Carnation Industries Ltd: Share Price Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: December 13, 2024, 11:35 pm

Market Cap	4.86 Cr.
Current Price	14.0
High / Low	14.0/5.97
Stock P/E	2.42
Book Value	3.44
Dividend Yield	0.00 %
ROCE	%
ROE	%
Face Value	10.0
PEG Ratio	-0.11

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Carnation Industries Ltd

Competitors of Carnation Industries Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Gujarat Intrux Ltd	159 Cr.	463	647/230	18.0	179	3.67 %	17.0 %	12.3 %	10.0
Carnation Industries Ltd	4.86 Cr.	14.0	14.0/5.97	2.42	3.44	0.00 %	%	%	10.0
Captain Technocast Ltd	445 Cr.	436	450/96.2	87.1	28.3	0.00 %	19.4 %	16.9 %	10.0
Nelcast Ltd	1,123 Cr.	129	176/105	36.4	61.3	0.31 %	10.1 %	8.05 %	2.00
Kirloskar Industries Ltd	4,835 Cr.	4,660	6,699/3,300	24.7	6,643	0.28 %	10.7 %	5.40 %	10.0
Industry Average	6,077.44 Cr	1,057.85		37.42	807.81	0.63%	19.43%	14.17%	7.00

All Competitor Stocks of Carnation Industries Ltd

Quarterly Result

Month	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Sales	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Expenses	6.32	0.28	0.17	0.38	0.71	0.17	0.12	0.12	0.09	0.11	0.05	0.03	0.15
Operating Profit	-6.32	-0.28	-0.17	-0.38	-0.71	-0.17	-0.12	-0.12	-0.09	-0.11	-0.05	-0.03	-0.15
OPM %
Other Income	0.07	3.00	-2.23	-0.08	0.53	0.03	-0.05	-0.00	-0.27	-0.00	-0.00	-0.00	-0.00
Interest	0.09	0.07	0.06	0.06	0.10	0.03	0.07	0.07	0.06	0.06	0.06	-0.00	-0.00
Depreciation	0.01	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Profit before tax	-6.35	2.65	-2.46	-0.52	-0.28	-0.17	-0.24	-0.19	-0.42	-0.17	-0.11	-0.03	-0.15
Tax %	-0.00%	-0.00%	-0.00%	-0.00%	42.86%	11.76%	-0.00%	-5.26%	38.10%	11.76%	-0.00%	-0.00%	-0.00%
Net Profit	-6.35	2.64	-2.47	-0.53	-0.41	-0.20	-0.24	-0.19	-0.59	-0.20	-0.11	-0.03	-0.15
EPS in Rs	-18.37	7.64	-7.14	-1.53	-1.19	-0.58	-0.69	-0.55	-1.71	-0.58	-0.32	-0.09	-0.43

Last Updated: November 6, 2024, 7:05 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

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
Sales	90.27	97.16	96.44	97.24	81.65	50.06	6.80	-0.23	-0.01	0.00	0.00	0.00
Expenses	82.69	88.10	89.12	88.48	78.61	55.02	11.84	1.80	1.69	1.55	0.52	0.34
Operating Profit	7.58	9.06	7.32	8.76	3.04	-4.96	-5.04	-2.03	-1.70	-1.55	-0.52	-0.34
OPM %	8.40%	9.32%	7.59%	9.01%	3.72%	-9.91%	-74.12%
Other Income	1.44	1.17	2.61	1.09	3.67	3.60	2.46	4.34	-5.60	1.22	-0.28	0.00
Interest	5.60	5.59	6.54	5.46	5.29	4.03	1.03	1.94	0.44	0.29	0.23	0.11
Depreciation	2.06	1.80	1.62	1.38	1.20	1.21	1.01	0.02	0.02	0.02	0.02	0.02
Profit before tax	1.36	2.84	1.77	3.01	0.22	-6.60	-4.62	0.35	-7.76	-0.64	-1.05	-0.47
Tax %	16.18%	15.85%	20.90%	22.26%	-18.18%	-0.91%	1.52%	0.00%	0.00%	18.75%	16.19%	4.26%
Net Profit	1.15	2.38	1.40	2.34	0.27	-6.53	-4.68	0.34	-7.76	-0.76	-1.22	-0.49
EPS in Rs	3.33	6.88	4.05	6.77	0.78	-18.89	-13.54	0.98	-22.45	-2.20	-3.53	-1.42
Dividend Payout %	18.05%	11.63%	14.83%	10.35%	51.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	106.96%	-41.18%	67.14%	-88.46%	-2518.52%	28.33%	107.26%	-2382.35%	90.21%	-60.53%	59.84%
Change in YoY Net Profit Growth (%)	0.00%	-148.13%	108.32%	-155.60%	-2430.06%	2546.85%	78.93%	-2489.62%	2472.56%	-150.73%	120.36%

Carnation Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	%

Compounded Profit Growth
10 Years:	%
5 Years:	14%
3 Years:	21%
TTM:	345%

Stock Price CAGR
10 Years:	-5%
5 Years:	20%
3 Years:	40%
1 Year:	51%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 2:01 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	Sep 2024
Equity Capital	3.46	3.46	3.46	3.46	3.46	3.46	3.46	3.46	3.46	3.46	3.46	3.46	3.46
Reserves	9.60	11.66	12.81	14.86	15.11	8.43	3.88	3.93	-3.91	-4.66	-5.87	-6.36	-2.27
Borrowings	32.98	33.52	34.62	36.31	33.74	32.23	27.49	1.42	1.53	1.59	1.75	1.92	0.45
Other Liabilities	38.31	36.65	36.68	32.17	33.54	25.33	21.60	19.55	13.18	1.87	2.00	2.28	0.25
Total Liabilities	84.35	85.29	87.57	86.80	85.85	69.45	56.43	28.36	14.26	2.26	1.34	1.30	1.89
Fixed Assets	15.24	13.84	13.06	12.29	11.75	10.99	10.03	3.04	1.06	0.94	0.90	0.88	0.88
CWIP	0.26	0.26	0.00	0.00	0.32	0.63	0.63	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.05	0.03	0.03	0.01	0.01	0.01	0.00	0.00	0.00
Other Assets	68.85	71.19	74.51	74.51	73.73	57.80	45.74	25.31	13.19	1.31	0.44	0.42	1.01
Total Assets	84.35	85.29	87.57	86.80	85.85	69.45	56.43	28.36	14.26	2.26	1.34	1.30	1.89

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 Activity +	6.26	5.93	5.81	2.91	8.54	5.35	4.91	4.60	-3.77	-7.79	-0.04	-0.05
Cash from Investing Activity +	-1.22	-0.71	-0.90	-0.60	-0.95	0.30	0.83	23.64	11.12	1.02	0.06	0.00
Cash from Financing Activity +	-5.76	-3.91	-4.35	-2.44	-8.26	-5.54	-5.78	-28.21	-0.36	-0.22	-0.09	0.05
Net Cash Flow	-0.72	1.31	0.56	-0.13	-0.68	0.12	-0.03	0.03	6.99	-6.99	-0.07	0.00

Free 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
Free Cash Flow	-25.40	-24.46	-27.30	-27.55	-30.70	-37.19	-32.53	-3.45	-3.23	-3.14	-2.27	-2.26

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
Debtor Days	177.14	180.17	192.30	203.75	236.93	310.02	1,980.12	-29,533.26	-22,995.00
Inventory Days	79.24	60.37	77.58	64.74	82.85	55.49	92.24	-1,221.96	-2,190.00
Days Payable	249.51	244.12	245.86	239.32	309.27	288.37	1,452.84
Cash Conversion Cycle	6.87	-3.58	24.02	29.16	10.50	77.14	619.53	-30,755.22	-25,185.00
Working Capital Days	128.18	128.29	140.53	157.43	180.96	244.04	1,354.26	9,728.04	-251,485.00
ROCE %	15.09%	17.81%	16.70%	16.05%	10.32%	-5.33%	-10.31%	10.49%	-32.96%	-81.63%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoters	43.66%	43.66%	43.66%	43.66%	43.66%	43.67%	43.67%	43.67%	43.67%	43.67%	43.67%	43.67%
Public	56.34%	56.34%	56.34%	56.34%	56.34%	56.34%	56.33%	56.33%	56.33%	56.33%	56.33%	56.33%
No. of Shareholders	2,018	2,057	2,131	2,202	2,202	2,200	2,257	2,268	2,268	2,250	2,329	2,329

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	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	-1.43	-3.53	-2.20	-22.44	0.99
Diluted EPS (Rs.)	-1.43	-3.53	-2.20	-22.44	0.99
Cash EPS (Rs.)	-1.38	-3.48	-2.15	-22.38	2.68
Book Value[Excl.RevalReserv]/Share (Rs.)	-8.40	-6.97	-3.49	-1.31	21.38
Book Value[Incl.RevalReserv]/Share (Rs.)	-8.40	-6.97	-3.49	-1.31	21.38
Revenue From Operations / Share (Rs.)	0.00	0.00	0.00	0.00	22.63
PBDIT / Share (Rs.)	-0.99	-1.40	0.72	-4.64	7.01
PBIT / Share (Rs.)	-1.04	-1.44	0.67	-4.71	5.32
PBT / Share (Rs.)	-1.36	-2.12	-0.15	-5.98	-0.29
Net Profit / Share (Rs.)	-1.43	-3.53	-2.19	-22.44	0.98
PBDIT Margin (%)	0.00	0.00	0.00	0.00	30.99
PBIT Margin (%)	0.00	0.00	0.00	0.00	23.52
PBT Margin (%)	0.00	0.00	0.00	0.00	-1.28
Net Profit Margin (%)	0.00	0.00	0.00	0.00	4.36
Return on Networth / Equity (%)	0.00	0.00	0.00	0.00	4.62
Return on Capital Employeed (%)	13.98	24.82	34.86	-114.43	19.21
Return On Assets (%)	-37.80	-91.19	-33.58	-54.38	1.20
Long Term Debt / Equity (X)	0.00	0.00	-1.23	-3.36	0.17
Total Debt / Equity (X)	-0.65	-0.72	-1.32	-3.36	0.17
Asset Turnover Ratio (%)	0.00	0.00	0.00	0.00	0.18
Current Ratio (X)	0.06	0.08	0.73	1.02	1.33
Quick Ratio (X)	0.06	0.08	0.73	1.01	1.29
Inventory Turnover Ratio (X)	0.00	0.00	0.00	0.00	6.87
Interest Coverage Ratio (X)	-3.06	-2.07	0.87	-3.65	1.25
Interest Coverage Ratio (Post Tax) (X)	-3.40	-2.89	0.38	-3.70	1.18
Enterprise Value (Cr.)	4.43	3.08	3.21	-4.18	3.14
EV / Net Operating Revenue (X)	0.00	0.00	0.00	0.00	0.40
EV / EBITDA (X)	-12.91	-6.37	12.88	2.60	1.30
MarketCap / Net Operating Revenue (X)	0.00	0.00	0.00	0.00	0.24
Price / BV (X)	-0.87	-0.55	-1.43	-3.06	0.26
Price / Net Operating Revenue (X)	0.00	0.00	0.00	0.00	0.24
EarningsYield	-0.19	-0.90	-0.44	-5.58	0.17

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Carnation Industries Ltd as of December 18, 2024 is: 1.27

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.

As of December 18, 2024, Carnation Industries Ltd is Overvalued by 90.93% compared to the current share price 14.00

Default values used*: Default value of 15% for ROE is used

Intrinsic Value of Carnation Industries Ltd as of December 18, 2024 is: 0.99

Calculation basis:

Intrinsic 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.

As of December 18, 2024, Carnation Industries Ltd is Overvalued by 92.93% compared to the current share price 14.00

Default values used*: Default value of 15% for ROE is used

Last 5 Year EPS CAGR: -21.71%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
	The stock has a low average ROCE of -3.65%, which may not be favorable. The stock has a high average Working Capital Days of 61.54, which may not be favorable. The stock has a high average Cash Conversion Cycle of 59.05, which may not be favorable. The company has higher borrowings (18.43) compared to reserves (4.40), which may suggest financial risk. The company has not shown consistent growth in sales (43.28) and profit (-0.97).

Strength

Weakness

The stock has a low average ROCE of -3.65%, which may not be favorable.
The stock has a high average Working Capital Days of 61.54, which may not be favorable.
The stock has a high average Cash Conversion Cycle of 59.05, which may not be favorable.
The company has higher borrowings (18.43) compared to reserves (4.40), which may suggest financial risk.
The company has not shown consistent growth in sales (43.28) and profit (-0.97).

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 Carnation Industries Ltd:
1. Net Profit Margin: 0%
  - 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.
2. ROCE: 13.98% (Industry Average ROCE: 19.43%)
  - 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.
3. ROE%: 0% (Industry Average ROE: 14.17%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): -3.4
  - 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.
5. Quick Ratio: 0.06
  - 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.
6. Stock P/E: 2.42 (Industry average Stock P/E: 37.42)
  - 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.
7. Total Debt / Equity: -0.65
  - 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

Carnation Industries Ltd. is a Public Limited Listed company incorporated on 23/02/1983 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L27209WB1983PLC035920 and registration number is 035920. Currently Company is involved in the business activities of Casting of iron and steel. Company’s Total Operating Revenue is Rs. 0.00 Cr. and Equity Capital is Rs. 3.46 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Castings/Foundry	9/C, Kumar Para Road, Howrah West Bengal 711204	info@carnationindustries.com http://www.carnationindustries.com

Management
Name	Position Held
Dr. Sephali Roy	Chairman & Ind.Director
Mr. Ravindra Prakash Sehgal	Managing Director
Mr. Arun Kumar Bose	Non Executive Director
Mr. Subir Chatterjee	Independent Director

FAQ

What is the latest intrinsic value of Carnation Industries Ltd?

The latest intrinsic value of Carnation Industries Ltd as on 18 December 2024 is ₹1.27, which is 90.93% lower than the current market price of ₹14.00. The stock has a market capitalization of 4.86 Cr. and recorded a high/low of ₹14.0/5.97 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹-2.27 Cr and total liabilities of ₹1.89 Cr.

What is the Market Cap of Carnation Industries Ltd?

The Market Cap of Carnation Industries Ltd is 4.86 Cr..

What is the current Stock Price of Carnation Industries Ltd as on 18 December 2024?

The current stock price of Carnation Industries Ltd as on 18 December 2024 is 14.0.

What is the High / Low of Carnation Industries Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Carnation Industries Ltd stocks is 14.0/5.97.

What is the Stock P/E of Carnation Industries Ltd?

The Stock P/E of Carnation Industries Ltd is 2.42.

What is the Book Value of Carnation Industries Ltd?

The Book Value of Carnation Industries Ltd is 3.44.

What is the Dividend Yield of Carnation Industries Ltd?

The Dividend Yield of Carnation Industries Ltd is 0.00 %.

What is the ROCE of Carnation Industries Ltd?

The ROCE of Carnation Industries Ltd is %.

What is the ROE of Carnation Industries Ltd?

The ROE of Carnation Industries Ltd is %.

What is the Face Value of Carnation Industries Ltd?

The Face Value of Carnation Industries Ltd is 10.0.