Stock P/E, Current Price, and Intrinsic Value Over Time
Competitors of Hind Rectifiers Ltd
Stock Name
Market Cap
Current Price
High / Low
Stock P/E
Book Value
Dividend Yield
ROCE
ROE
Face Value
Industry Average
0 Cr
0
0
0
0%
0%
0%
0
Quarterly Result
Month
Dec 2020
Mar 2021
Jun 2021
Sep 2021
Dec 2021
Mar 2022
Jun 2022
Sep 2022
Dec 2022
Mar 2023
Jun 2023
Sep 2023
Dec 2023
Sales
81.00
75.57
73.45
102.12
94.19
102.34
72.64
77.64
97.23
111.59
97.58
131.98
136.63
Expenses
76.15
71.39
68.36
94.67
89.53
97.36
72.91
79.84
90.68
100.57
90.95
121.37
123.15
Operating Profit
4.85
4.18
5.09
7.45
4.66
4.98
-0.27
-2.20
6.55
11.02
6.63
10.61
13.48
OPM %
5.99%
5.53%
6.93%
7.30%
4.95%
4.87%
-0.37%
-2.83%
6.74%
9.88%
6.79%
8.04%
9.87%
Other Income
0.04
0.10
0.05
0.10
0.04
0.16
0.02
0.06
0.04
-10.63
0.06
0.10
-6.91
Interest
2.26
2.10
1.77
1.68
1.67
1.76
1.72
2.15
1.99
2.27
2.52
2.84
3.23
Depreciation
0.96
1.05
1.06
1.08
1.14
1.21
1.24
1.28
1.25
1.37
1.55
1.88
2.02
Profit before tax
1.67
1.13
2.31
4.79
1.89
2.17
-3.21
-5.57
3.35
-3.25
2.62
5.99
1.32
Tax %
25.15%
23.89%
33.33%
29.44%
30.69%
28.11%
29.28%
27.29%
27.76%
24.31%
27.86%
33.72%
-14.39%
Net Profit
1.25
0.85
1.55
3.38
1.31
1.56
-2.27
-4.06
2.42
-2.46
1.90
3.98
1.52
EPS in Rs
0.75
0.51
0.94
2.04
0.79
0.94
-1.37
-2.45
1.46
-1.44
1.11
2.32
0.89
Last Updated: August 10, 2024, 11:15 am
Quarterly Chart
Profit & Loss - Annual Report
Last Updated: August 9, 2024, 6:44 pm
Month
Mar 2012
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2017
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
TTM
Sales
118
136
97
94
94
111
126
255
300
305
372
359
438
Expenses
102
122
100
96
92
107
116
229
262
285
349
344
404
Operating Profit
16
14
-4
-2
2
5
10
26
38
20
23
15
35
OPM %
13%
10%
-4%
-3%
2%
4%
8%
10%
13%
7%
6%
4%
8%
Other Income
0
0
0
0
1
-7
0
1
0
0
0
-10
-10
Interest
2
1
2
2
3
5
6
8
8
9
7
8
10
Depreciation
2
2
2
1
2
2
2
3
4
4
4
5
6
Profit before tax
12
11
-7
-6
-2
-10
2
17
26
7
11
-9
9
Tax %
12%
9%
30%
40%
31%
27%
35%
29%
30%
28%
30%
27%
Net Profit
11
10
-5
-4
-2
-7
1
12
18
5
8
-6
6
EPS in Rs
6.43
6.10
-2.97
-2.15
-0.91
-4.29
0.79
7.12
11.16
3.22
4.71
-3.71
3.45
Dividend Payout %
23%
24%
-6%
0%
0%
0%
0%
6%
7%
12%
8%
0%
Profit & Loss Yearly Chart
YoY Net Profit Growth
Year
2012-2013
2013-2014
2014-2015
2015-2016
2016-2017
2017-2018
2018-2019
2019-2020
2020-2021
2021-2022
2022-2023
YoY Net Profit Growth (%)
-9.09%
-150.00%
20.00%
50.00%
-250.00%
114.29%
1100.00%
50.00%
-72.22%
60.00%
-175.00%
Change in YoY Net Profit Growth (%)
0.00%
-140.91%
170.00%
30.00%
-300.00%
364.29%
985.71%
-1050.00%
-122.22%
132.22%
-235.00%
Growth
Compounded Sales Growth
10 Years:
18%
5 Years:
15%
3 Years:
19%
TTM:
45%
Compounded Profit Growth
10 Years:
19%
5 Years:
9%
3 Years:
48%
TTM:
182%
Stock Price CAGR
10 Years:
33%
5 Years:
49%
3 Years:
64%
1 Year:
155%
Return on Equity
10 Years:
7%
5 Years:
10%
3 Years:
9%
Last Year:
15%
Last Updated: September 6, 2024, 6:16 pm
Balance Sheet
Last Updated: August 9, 2024, 6:44 pm
Month
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2017
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Equity Capital
3
3
3
3
3
3
3
3
3
3
3
3
Reserves
67
63
60
59
50
63
75
92
96
104
108
121
Borrowings
19
23
26
32
41
51
64
90
84
75
105
135
Other Liabilities
24
25
26
30
19
35
43
57
57
64
76
71
Total Liabilities
114
113
116
123
113
153
185
243
241
246
292
331
Fixed Assets
17
16
18
21
20
27
26
33
41
48
80
90
CWIP
0
0
1
2
5
4
14
18
20
28
21
22
Investments
0
0
0
0
0
0
0
6
0
0
0
0
Other Assets
97
97
96
101
88
121
144
185
180
170
192
219
Total Assets
114
113
116
123
113
153
185
243
241
246
292
331
Reserves and Borrowings Chart
Cash Flow
Month
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2017
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Cash from Operating ActivityÂ
6
-1
2
5
-3
-4
6
4
22
36
33
34
Cash from Investing ActivityÂ
-4
-1
-3
-5
-4
-10
-10
-22
-8
-20
-29
-19
Cash from Financing ActivityÂ
0
-1
0
3
4
15
3
19
-15
-17
-4
-14
Net Cash Flow
3
-3
-0
4
-3
1
-1
1
-1
-0
0
0
Free Cash Flow
Month
Mar 2012
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2017
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Free Cash Flow
16.00
-5.00
-27.00
-28.00
-30.00
-36.00
-41.00
-38.00
-52.00
-64.00
-52.00
-90.00
Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)
Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.
Free Cash Flow Chart
Financial Efficiency Indicators
Month
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2017
Mar 2018
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Debtor Days
153
200
221
174
117
161
90
99
105
66
69
63
Inventory Days
100
147
117
180
126
143
106
121
106
97
121
92
Days Payable
56
89
97
124
57
115
65
69
65
60
69
45
Cash Conversion Cycle
197
258
241
230
185
188
132
151
146
104
120
110
Working Capital Days
173
243
228
224
172
192
120
141
145
103
116
100
ROCE %
14%
-6%
-4%
1%
3%
8%
19%
21%
9%
10%
5%
16%
Financial Efficiency Indicators Chart
Share Holding Pattern
Month
Sep 2021
Dec 2021
Mar 2022
Jun 2022
Sep 2022
Dec 2022
Mar 2023
Jun 2023
Sep 2023
Dec 2023
Mar 2024
Jun 2024
Promoters
42.25%
42.25%
42.25%
42.25%
42.25%
42.25%
44.08%
44.08%
44.08%
44.08%
44.05%
44.05%
FIIs
4.97%
6.39%
6.47%
6.47%
6.47%
6.47%
6.26%
6.26%
6.26%
5.72%
5.76%
5.82%
DIIs
0.02%
0.02%
0.02%
0.02%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
Public
52.76%
51.34%
51.26%
51.26%
51.26%
51.26%
49.64%
49.64%
49.65%
50.18%
50.16%
50.13%
No. of Shareholders
10,004
9,432
9,608
9,652
9,553
9,136
8,921
7,983
7,580
8,403
9,936
10,997
Shareholding Pattern Chart
No. of Shareholders
This stock is not held by any mutual fund
ROCE Trend
EPS Trend
Key Financial Ratios
Month
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
FaceValue
2.00
2.00
2.00
2.00
2.00
Basic EPS (Rs.)
7.30
-3.84
4.71
3.22
11.16
Diluted EPS (Rs.)
7.28
-3.84
4.68
3.22
11.16
Cash EPS (Rs.)
11.64
-0.71
7.42
5.53
13.62
Book Value[Excl.RevalReserv]/Share (Rs.)
72.66
65.24
64.87
60.24
57.74
Book Value[Incl.RevalReserv]/Share (Rs.)
72.66
65.24
64.87
60.24
57.74
Dividend / Share (Rs.)
1.20
0.00
0.40
0.40
0.80
Revenue From Operations / Share (Rs.)
301.99
209.71
224.65
184.20
180.89
PBDIT / Share (Rs.)
26.17
8.96
13.60
12.02
22.72
PBIT / Share (Rs.)
21.83
5.96
10.89
9.71
20.26
PBT / Share (Rs.)
10.32
-5.07
6.74
4.45
15.84
Net Profit / Share (Rs.)
7.30
-3.72
4.71
3.22
11.16
PBDIT Margin (%)
8.66
4.27
6.05
6.52
12.55
PBIT Margin (%)
7.22
2.84
4.84
5.26
11.19
PBT Margin (%)
3.41
-2.41
2.99
2.41
8.75
Net Profit Margin (%)
2.41
-1.77
2.09
1.74
6.16
Return on Networth / Equity (%)
10.04
-5.69
7.25
5.34
19.32
Return on Capital Employeed (%)
23.65
7.21
13.47
13.79
29.15
Return On Assets (%)
3.77
-2.17
3.16
2.21
7.61
Long Term Debt / Equity (X)
0.18
0.21
0.19
0.11
0.15
Total Debt / Equity (X)
1.04
0.93
0.69
0.77
0.88
Asset Turnover Ratio (%)
1.66
1.33
1.53
1.26
1.40
Current Ratio (X)
1.21
1.23
1.47
1.40
1.39
Quick Ratio (X)
0.64
0.61
0.77
0.85
0.84
Inventory Turnover Ratio (X)
4.03
3.42
3.98
3.32
3.59
Dividend Payout Ratio (NP) (%)
0.00
0.00
8.49
24.85
3.58
Dividend Payout Ratio (CP) (%)
0.00
0.00
5.39
14.47
2.93
Earning Retention Ratio (%)
0.00
0.00
91.51
75.15
96.42
Cash Earning Retention Ratio (%)
0.00
0.00
94.61
85.53
97.07
Interest Coverage Ratio (X)
3.52
1.89
3.27
2.28
5.14
Interest Coverage Ratio (Post Tax) (X)
2.53
1.54
2.13
1.61
3.53
Enterprise Value (Cr.)
1159.34
436.09
380.72
272.61
276.81
EV / Net Operating Revenue (X)
2.24
1.21
1.02
0.89
0.92
EV / EBITDA (X)
25.85
28.41
16.89
13.70
7.36
MarketCap / Net Operating Revenue (X)
1.99
0.92
0.82
0.64
0.65
Retention Ratios (%)
0.00
0.00
91.50
75.14
96.41
Price / BV (X)
8.29
2.98
2.86
1.98
2.04
Price / Net Operating Revenue (X)
1.99
0.92
0.82
0.64
0.65
EarningsYield
0.01
-0.01
0.02
0.02
0.09
Profitability Ratios (%)
Liquidity Ratios
Liquidity Ratios (%)
Interest Coverage Ratios (%)
Valuation Ratios
Fair Value
Fair Value: ₹689.13
Calculation basis:
Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.
Overvalued: 24.02% compared to the current price ₹907.00
Intrinsic Value: 544.92
Calculation basis:
Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.
This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.
Overvalued: 39.92% compared to the current price ₹907.00
Last 5 Year EPS CAGR: -20.93%
*Investments are subject to market risks
Strength and Weakness
Strength
Weakness
The company has higher reserves (79.83 cr) compared to borrowings (62.08 cr), indicating strong financial stability.
The company has shown consistent growth in sales (215.77 cr) and profit (4.69 cr) over the years.
The stock has a low average ROCE of 8.00%, which may not be favorable.
The stock has a high average Working Capital Days of 163.08, which may not be favorable.
The stock has a high average Cash Conversion Cycle of 171.83, which may not be favorable.
Stock Analysis
Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Hind Rectifiers Ltd:
Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
ROE%: 10.04% (Industry Average ROE: 0%)
ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
Stock P/E: 64.4 (Industry average Stock P/E: 0)
Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
Total Debt / Equity: 1.04
Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions. Stock Rating:
About the Company - Qualitative Analysis
Hind Rectifiers Ltd. is a Public Limited Listed company incorporated on 25/04/1958 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L28900MH1958PLC011077 and registration number is 011077. Currently Company is involved in the business activities of Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus. Company’s Total Operating Revenue is Rs. 372.10 Cr. and Equity Capital is Rs. 3.31 Cr. for the Year ended 31/03/2022.
Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Hind Rectifiers Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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