HLE Glascoat Ltd: Share Price Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: December 17, 2024, 8:13 pm

Market Cap	2,712 Cr.
Current Price	398
High / Low	582/350
Stock P/E	90.8
Book Value	63.2
Dividend Yield	0.28 %
ROCE	13.1 %
ROE	8.62 %
Face Value	2.00
PEG Ratio	-7.64

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for HLE Glascoat Ltd

Competitors of HLE Glascoat Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
HLE Glascoat Ltd	2,712 Cr.	398	582/350	90.8	63.2	0.28 %	13.1 %	8.62 %	2.00
Harish Textile Engineers Ltd	31.4 Cr.	94.2	103/42.7		23.3	0.00 %	10.8 %	2.98 %	10.0
Disa India Ltd	2,450 Cr.	16,850	20,900/13,238	52.6	1,780	1.19 %	25.9 %	19.2 %	10.0
Cranex Ltd	81.3 Cr.	136	190/47.0	43.2	19.5	0.00 %	10.1 %	14.9 %	10.0
Concord Control Systems Ltd	1,059 Cr.	1,771	2,062/538	70.2	91.1	0.00 %	72.8 %	60.3 %	10.0
Industry Average	12,831.85 Cr	1,807.85		60.43	272.71	0.25%	19.11%	15.35%	5.77

All Competitor Stocks of HLE Glascoat Ltd

Quarterly Result

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	Jun 2024
Sales	124.24	124.02	154.74	249.23	204.42	214.53	214.23	298.34	197.19	224.42	239.23	306.90	227.07
Expenses	100.46	101.67	128.93	211.43	176.41	179.49	188.42	253.98	174.00	197.96	214.55	270.41	205.22
Operating Profit	23.78	22.35	25.81	37.80	28.01	35.04	25.81	44.36	23.19	26.46	24.68	36.49	21.85
OPM %	19.14%	18.02%	16.68%	15.17%	13.70%	16.33%	12.05%	14.87%	11.76%	11.79%	10.32%	11.89%	9.62%
Other Income	1.10	1.02	-4.30	1.10	3.50	2.94	2.47	2.94	0.68	1.52	0.59	1.97	1.78
Interest	2.24	2.28	3.74	4.85	3.86	4.91	5.32	8.95	4.78	5.77	9.70	10.34	9.44
Depreciation	2.17	2.25	2.57	4.23	5.83	5.47	5.61	5.79	5.96	6.07	7.33	6.95	7.26
Profit before tax	20.47	18.84	15.20	29.82	21.82	27.60	17.35	32.56	13.13	16.14	8.24	21.17	6.93
Tax %	30.68%	30.84%	48.95%	21.76%	29.51%	29.82%	29.22%	30.01%	29.17%	33.02%	27.43%	30.04%	21.79%
Net Profit	14.19	13.02	7.76	23.33	15.37	19.37	12.28	22.79	9.29	10.82	5.97	14.80	5.42
EPS in Rs	2.11	1.90	1.13	3.41	2.25	2.84	1.80	3.34	1.36	1.47	0.44	1.45	0.50

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: November 22, 2024, 2:20 pm

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	359	426	484	652	932	968	1,009
Expenses	313	354	392	541	793	854	892
Operating Profit	47	73	93	111	139	114	117
OPM %	13%	17%	19%	17%	15%	12%	12%
Other Income	2	5	4	-1	8	4	6
Interest	15	13	11	14	25	33	38
Depreciation	7	7	9	11	23	26	29
Profit before tax	28	57	77	84	99	59	56
Tax %	33%	31%	31%	31%	30%	30%
Net Profit	19	39	53	58	70	41	41
EPS in Rs	5.50	5.91	8.00	8.52	10.23	4.35	4.25
Dividend Payout %	0%	15%	10%	12%	11%	25%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	105.26%	35.90%	9.43%	20.69%	-41.43%
Change in YoY Net Profit Growth (%)	0.00%	-69.37%	-26.46%	11.26%	-62.12%

HLE Glascoat Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 5 years from 2019-2020 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	22%
3 Years:	26%
TTM:	8%

Compounded Profit Growth
10 Years:	%
5 Years:	12%
3 Years:	-15%
TTM:	-46%

Stock Price CAGR
10 Years:	35%
5 Years:	40%
3 Years:	-30%
1 Year:	-26%

Return on Equity
10 Years:	%
5 Years:	25%
3 Years:	19%
Last Year:	9%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 1:30 pm

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	6	13	13	14	14	14	14
Reserves	35	63	120	239	312	403	418
Borrowings	115	100	96	218	258	390	358
Other Liabilities	138	159	148	289	311	395	395
Total Liabilities	294	335	377	759	894	1,202	1,184
Fixed Assets	85	94	120	245	318	541	550
CWIP	4	10	3	31	3	19	31
Investments	0	0	0	0	0	0	0
Other Assets	205	231	254	483	573	641	603
Total Assets	294	335	377	759	894	1,202	1,184

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	49	45	48	1	5	94
Cash from Investing Activity +	-15	-19	-29	-146	-40	-45
Cash from Financing Activity +	-29	-30	-10	160	13	-18
Net Cash Flow	5	-5	9	14	-22	31

Free Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-68.00	-27.00	-3.00	-107.00	-119.00	-276.00

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 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	34	38	52	83	95	89
Inventory Days	244	264	228	307	229	259
Days Payable	119	130	111	150	98	92
Cash Conversion Cycle	159	172	168	240	226	256
Working Capital Days	45	42	62	104	112	116
ROCE %		42%	43%	30%	24%	13%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	70.32%	70.32%	70.32%	70.32%	70.32%	70.32%	70.32%	66.69%	66.69%	66.69%	66.69%	66.69%
FIIs	5.03%	5.02%	4.73%	4.32%	4.30%	4.31%	4.30%	4.25%	4.24%	4.29%	4.26%	4.07%
DIIs	0.85%	0.85%	0.87%	0.74%	0.71%	0.71%	0.53%	3.93%	3.95%	3.77%	3.57%	3.52%
Public	23.80%	23.81%	24.09%	24.61%	24.66%	24.65%	24.85%	25.13%	25.12%	25.25%	25.45%	25.72%
No. of Shareholders	33,875	33,637	42,120	48,869	58,274	61,585	65,161	75,762	79,751	81,753	81,053	83,993

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
DSP Small Cap Fund	2,401,016	0.58	96.41	2,401,016	2024-12-12	0%

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	10.00	10.00	10.00
Basic EPS (Rs.)	5.99	10.22	42.65	41.13	30.31
Diluted EPS (Rs.)	5.99	10.22	42.65	41.13	30.31
Cash EPS (Rs.)	9.84	13.55	50.87	47.40	36.07
Book Value[Excl.RevalReserv]/Share (Rs.)	70.93	46.10	177.17	93.28	49.91
Book Value[Incl.RevalReserv]/Share (Rs.)	70.93	46.10	177.17	93.28	49.91
Revenue From Operations / Share (Rs.)	141.79	136.46	477.71	370.53	329.80
PBDIT / Share (Rs.)	17.71	21.25	86.25	73.10	58.95
PBIT / Share (Rs.)	13.85	17.93	78.03	66.52	53.20
PBT / Share (Rs.)	8.60	14.55	61.75	59.07	43.74
Net Profit / Share (Rs.)	5.99	10.23	42.65	40.82	30.31
NP After MI And SOA / Share (Rs.)	4.35	10.23	42.60	40.01	29.57
PBDIT Margin (%)	12.48	15.57	18.05	19.72	17.87
PBIT Margin (%)	9.77	13.13	16.33	17.95	16.12
PBT Margin (%)	6.06	10.66	12.92	15.94	13.26
Net Profit Margin (%)	4.22	7.49	8.92	11.01	9.19
NP After MI And SOA Margin (%)	3.06	7.49	8.91	10.79	8.96
Return on Networth / Equity (%)	7.34	22.19	24.05	42.93	60.53
Return on Capital Employeed (%)	13.23	24.75	25.41	44.88	50.71
Return On Assets (%)	2.46	7.83	7.64	13.87	11.40
Long Term Debt / Equity (X)	0.36	0.31	0.53	0.45	0.85
Total Debt / Equity (X)	0.89	0.78	0.85	0.62	1.32
Asset Turnover Ratio (%)	0.92	1.13	1.15	1.17	1.26
Current Ratio (X)	1.27	1.41	1.40	1.36	1.15
Quick Ratio (X)	0.63	0.73	0.61	0.55	0.37
Inventory Turnover Ratio (X)	1.56	1.58	1.63	1.35	1.51
Dividend Payout Ratio (NP) (%)	25.29	9.77	9.25	6.17	6.76
Dividend Payout Ratio (CP) (%)	13.40	7.37	7.75	5.30	5.66
Earning Retention Ratio (%)	74.71	90.23	90.75	93.83	93.24
Cash Earning Retention Ratio (%)	86.60	92.63	92.25	94.70	94.34
Interest Coverage Ratio (X)	3.95	6.29	8.98	9.82	6.24
Interest Coverage Ratio (Post Tax) (X)	2.51	4.03	6.14	6.48	4.21
Enterprise Value (Cr.)	3183.84	3666.76	7596.79	3027.75	694.16
EV / Net Operating Revenue (X)	3.29	3.94	11.65	6.25	1.63
EV / EBITDA (X)	26.34	25.28	64.51	31.68	9.11
MarketCap / Net Operating Revenue (X)	2.88	3.69	11.39	6.13	1.45
Retention Ratios (%)	74.70	90.22	90.74	93.82	93.23
Price / BV (X)	6.89	10.92	30.72	24.39	9.80
Price / Net Operating Revenue (X)	2.88	3.69	11.39	6.13	1.45
EarningsYield	0.01	0.02	0.01	0.01	0.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of HLE Glascoat Ltd as of December 18, 2024 is: 496.05

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, HLE Glascoat Ltd is Undervalued by 24.64% compared to the current share price 398.00

Intrinsic Value of HLE Glascoat Ltd as of December 18, 2024 is: 437.10

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, HLE Glascoat Ltd is Undervalued by 9.82% compared to the current share price 398.00

Last 5 Year EPS CAGR: -11.88%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 25.33%, which is a positive sign. The company has higher reserves (227.14 cr) compared to borrowings (219.29 cr), indicating strong financial stability. The company has shown consistent growth in sales (546.00 cr) and profit (65.71 cr) over the years.	The stock has a high average Working Capital Days of 80.17, which may not be favorable. The stock has a high average Cash Conversion Cycle of 203.50, 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 HLE Glascoat Ltd:
1. Net Profit Margin: 4.22%
  - 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: 13.23% (Industry Average ROCE: 19.11%)
  - 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%: 7.34% (Industry Average ROE: 15.35%)
  - 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): 2.51
  - 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: 0.63
  - 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: 90.8 (Industry average Stock P/E: 60.43)
  - 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: 0.89
  - 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

HLE Glasscoat Ltd. is a Public Limited Listed company incorporated on 26/08/1991 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L26100GJ1991PLC016173 and registration number is 016173. Currently Company is involved in the business activities of Manufacture of organic and inorganic chemical compounds. Company’s Total Operating Revenue is Rs. 508.49 Cr. and Equity Capital is Rs. 13.65 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Engineering - Heavy	H - 106, Phase - IV, Anand Dist. Gujarat 388121	share@hleglascoat.com http://www.hleglascoat.com

Management
Name	Position Held
Mr. Yatish Parekh	Chairman & Ind.Director
Mr. Himanshu Patel	Managing Director
Mr. Harsh Patel	Executive Director
Mr. Aalap Patel	Executive Director
Mr. Nilesh Patel	Non Executive Director
Mr. Jayesh Shah	Independent Director
Mr. Sandeep Randery	Independent Director
Ms. Vijayanti Punjabi	Independent Woman Director

FAQ

What is the latest intrinsic value of HLE Glascoat Ltd?

The latest intrinsic value of HLE Glascoat Ltd as on 17 December 2024 is ₹496.05, which is 24.64% higher than the current market price of ₹398.00. The stock has a market capitalization of 2,712 Cr. and recorded a high/low of ₹582/350 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹418 Cr and total liabilities of ₹1,184 Cr.

What is the Market Cap of HLE Glascoat Ltd?

The Market Cap of HLE Glascoat Ltd is 2,712 Cr..

What is the current Stock Price of HLE Glascoat Ltd as on 17 December 2024?

The current stock price of HLE Glascoat Ltd as on 17 December 2024 is 398.

What is the High / Low of HLE Glascoat Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of HLE Glascoat Ltd stocks is 582/350.

What is the Stock P/E of HLE Glascoat Ltd?

The Stock P/E of HLE Glascoat Ltd is 90.8.

What is the Book Value of HLE Glascoat Ltd?

The Book Value of HLE Glascoat Ltd is 63.2.

What is the Dividend Yield of HLE Glascoat Ltd?

The Dividend Yield of HLE Glascoat Ltd is 0.28 %.

What is the ROCE of HLE Glascoat Ltd?

The ROCE of HLE Glascoat Ltd is 13.1 %.

What is the ROE of HLE Glascoat Ltd?

The ROE of HLE Glascoat Ltd is 8.62 %.

What is the Face Value of HLE Glascoat Ltd?

The Face Value of HLE Glascoat Ltd is 2.00.