Vikram Thermo(India)

₹209.7 3.8 | 1.9%

WEBSITE BSE:530477 NSE : VIKRAM THERM 18 May, 12:50

Market Cap ₹658 Cr.

Stock P/E 27.0

P/B 6.1

Current Price ₹209.7

Book Value ₹ 34.6

Face Value 10

52W High ₹235.1

Dividend Yield 0.24%

52W Low ₹ 73

Edit Ratio

Vikram Thermo(India) Research see more...

Overview Inc. Year: 1994Industry: Chemicals

Vikram Thermo (India) Ltd is a leading company based in India, specializing in thermal engineering and solutions. With a rich history spanning several decades, the company has established itself as a reliable provider of thermal systems and equipment. Vikram Thermo offers a diverse range of products and services, catering to various industries such as power generation, oil and gas, chemical processing, and manufacturing. The company's expertise lies in designing, manufacturing, and commissioning thermal equipment like boilers, heat exchangers, and pressure vessels. They also provide comprehensive solutions for energy conservation, waste heat recovery, and environmental sustainability. Vikram Thermo is known for its commitment to quality, innovation, and customer satisfaction. They have a team of highly skilled professionals who ensure that their products and services meet the highest industry standards. Vikram Thermo (India) Ltd has earned a reputation for delivering reliable and efficient thermal solutions, contributing to the growth and success of numerous businesses across India and beyond.

Vikram Thermo(India) Share Price

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Peer Comparison

Vikram Thermo(India) Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	22	19	24	25	29	27	30	30	34	32
Other Income	1	1	0	0	1	0	0	0	0	0
Total Income	22	20	25	25	30	27	31	30	34	32
Total Expenditure	20	17	20	18	22	22	24	21	22	22
Operating Profit	3	3	4	7	8	6	7	9	12	10
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	2	2	3	6	7	4	5	8	11	9
Provision for Tax	0	1	1	2	2	1	2	2	3	2
Profit After Tax	1	2	2	4	5	3	4	6	8	6
Adjustments	0	-0	0	-0	0	0	0	0	0	0
Profit After Adjustments	1	2	2	4	5	3	4	6	8	6
Adjusted Earnings Per Share	0.4	2.4	0.8	1.4	1.7	1.1	1.2	1.8	2.6	2.1

Vikram Thermo(India) Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	38	43	37	38	45	49	58	56	74	93	112	126
Other Income	0	1	1	0	0	0	0	0	0	1	1	0
Total Income	38	44	38	39	46	49	59	56	74	93	113	127
Total Expenditure	29	35	33	31	37	43	49	44	55	78	85	89
Operating Profit	9	9	6	8	9	5	9	12	19	15	27	38
Interest	0	0	0	0	0	1	1	1	1	1	1	0
Depreciation	1	1	1	1	1	2	2	2	2	3	3	4
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	8	8	5	6	7	3	6	9	16	12	23	33
Provision for Tax	3	3	2	2	3	1	2	2	4	3	6	9
Profit After Tax	6	6	3	4	5	2	4	7	12	9	17	24
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	6	6	3	4	5	2	4	7	12	9	17	24
Adjusted Earnings Per Share	2	2	1.1	1.5	1.7	0.8	1.6	2.3	3.8	2.8	5.4	7.7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	20%	26%	18%	11%
Operating Profit CAGR	80%	31%	40%	12%
PAT CAGR	89%	34%	53%	11%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	165%	2%	23%	13%
ROE Average	21%	18%	16%	16%
ROCE Average	25%	21%	19%	21%

Vikram Thermo(India) Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	22	26	29	32	37	39	43	55	66	73	90
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	4	5	6	3	7	9	7
Other Non-Current Liabilities	1	1	1	2	3	2	6	6	2	7	3
Total Current Liabilities	8	9	10	6	12	15	16	17	25	22	33
Total Liabilities	30	36	41	41	57	60	70	81	100	111	133
Fixed Assets	9	9	10	17	21	30	34	34	32	53	61
Other Non-Current Assets	4	7	9	1	9	5	4	11	19	6	6
Total Current Assets	18	20	22	22	27	26	32	35	49	51	66
Total Assets	30	36	41	41	57	60	70	81	100	111	133

Vikram Thermo(India) Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	3	3	3	0	0	0	3	2	0	1
Cash Flow from Operating Activities	5	5	2	2	6	3	4	13	15	6	13
Cash Flow from Investing Activities	-4	-4	-3	-1	-10	-8	-2	-10	-19	-7	-13
Cash Flow from Financing Activities	-0	-1	1	-4	4	4	1	-4	3	3	1
Net Cash Inflow / Outflow	1	0	-0	-2	-0	-0	3	-1	-1	1	2
Closing Cash & Cash Equivalent	3	3	3	0	0	0	3	2	0	1	3

Vikram Thermo(India) Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	2.01	2.05	1.12	1.52	1.69	0.84	1.59	2.31	3.85	2.77	5.39
CEPS(Rs)	2.3	2.35	1.43	1.97	2.17	1.4	2.24	2.94	4.49	3.66	6.42
DPS(Rs)	1.5	1.5	0.75	1.5	1.65	0.5	1.5	1.5	1.5	0.3	0.5
Book NAV/Share(Rs)	7.78	9.47	10.38	11.54	13.38	13.86	15.37	17.39	20.95	23.43	28.6
Core EBITDA Margin(%)	22.12	18.32	11.35	18.06	16.93	10.26	15.01	21.16	24.59	15.86	23.36
EBIT Margin(%)	20.62	18.08	11.89	15.51	14.74	7.61	12.54	18.34	22.47	13.66	21.7
Pre Tax Margin(%)	20.42	18	11.5	15.14	14.52	6.24	10.58	16.91	21.73	12.71	20.65
PAT Margin (%)	13.66	12.11	7.62	9.98	9.43	4.7	7.6	12.96	16.4	9.39	15.16
Cash Profit Margin (%)	15.57	13.91	9.75	12.95	12.12	7.81	10.73	16.5	19.11	12.4	18.04
ROA(%)	20.5	17.24	8.17	10.44	9.63	3.99	6.78	9.59	13.4	8.26	13.89
ROE(%)	29.01	23.74	11.26	13.87	13.54	6.17	10.86	14.85	20.07	12.49	20.73
ROCE(%)	40.58	32.92	15.97	20.13	19.36	8.1	13.59	17.48	24.24	15.38	24.63
Receivable days	78.14	76.2	108.07	119.84	105.57	120.54	127.41	136.17	98.28	85.9	93.26
Inventory Days	29.48	29.73	37.76	34.33	36.86	41.7	31.97	41	40.84	40.86	35.3
Payable days	85.39	83.67	91.56	95.22	87.13	75.34	56.58	85.97	88.5	59.45	65.82
PER(x)	4.49	5.15	13.17	8.29	14.06	24.89	9.45	6.15	8.52	14.11	11.33
Price/Book(x)	1.16	1.11	1.42	1.09	1.77	1.51	0.98	0.82	1.57	1.67	2.14
Dividend Yield(%)	3.32	2.85	1.02	2.38	1.39	0.48	2	2.11	0.91	0.15	0.82
EV/Net Sales(x)	0.64	0.65	1.13	0.92	1.59	1.44	0.91	0.87	1.53	1.47	1.85
EV/Core EBITDA(x)	2.6	2.98	7.33	4.49	8.25	13.09	5.81	3.97	6.09	8.8	7.54
Net Sales Growth(%)	4.47	14.72	-13.96	3.27	17.75	7.41	19.82	-4.1	31.77	25.79	20.49
EBIT Growth(%)	-1.76	0.52	-42.96	35.61	11.56	-48.39	92.23	40.26	61.46	-23.53	91.36
PAT Growth(%)	-2.67	1.63	-45.42	36.06	10.95	-50.21	88.94	63.41	66.72	-27.98	94.63
EPS Growth(%)	-2.67	1.63	-45.42	36.06	10.95	-50.21	88.94	45.46	66.72	-27.98	94.63
Debt/Equity(x)	0.09	0.07	0.13	0.02	0.16	0.31	0.33	0.11	0.16	0.2	0.21
Current Ratio(x)	2.14	2.27	2.1	3.56	2.25	1.76	2.01	2.1	1.92	2.36	2.02
Quick Ratio(x)	1.72	1.78	1.68	2.96	1.72	1.42	1.69	1.66	1.56	1.82	1.71
Interest Cover(x)	101.99	247.4	29.82	42.15	67.71	5.56	6.4	12.84	30.11	14.32	20.7
Total Debt/Mcap(x)	0.08	0.06	0.09	0.02	0.09	0.2	0.33	0.13	0.1	0.12	0.1

Vikram Thermo(India) Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	65.57	65.58	65.58	65.58	65.58	65.58	65.58	65.94	65.94	65.94
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	34.43	34.42	34.42	34.42	34.42	34.42	34.42	34.06	34.06	34.06
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.41	0.41	2.06	2.06	2.06	2.06	2.06	2.07	2.07	2.07
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.22	0.22	1.08	1.08	1.08	1.08	1.08	1.07	1.07	1.07
Others	0	0	0	0	0	0	0	0	0	0
Total	0.63	0.63	3.14	3.14	3.14	3.14	3.14	3.14	3.14	3.14

Pros

Company has delivered good profit growth of 53% CAGR over last 5 years
Company has reduced debt.
Company is almost debt free.

Cons

Debtor days have increased from 59.45 to 65.82days.
Stock is trading at 6.1 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.