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Last Updated on: 21 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 539018 | NSE: BEEKAY

Fundamental Analysis of Beekay Steel Industries Ltd

Basic Stock Data

Last Updated: July 19, 2024, 10:13 pm

Market Cap 1,364 Cr.
Current Price 715
High / Low845/537
Stock P/E10.3
Book Value 494
Dividend Yield0.14 %
ROCE14.6 %
ROE15.2 %
Face Value 10.0
PEG Ratio0.92

Data Source: screener.in

Competitors of Beekay Steel Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Aerpace Industries Ltd 504 Cr. 36.936.9/2.53 0.940.00 %12.7 %15.8 % 1.00
Bonlon Industries Ltd 48.2 Cr. 34.056.0/26.420.7 55.70.00 %4.43 %2.99 % 10.0
SAL Steel Ltd 172 Cr. 20.330.6/13.8367 4.950.00 %8.02 %1.12 % 10.0
Tata Steel Ltd 1,96,953 Cr. 158185/11430.8 73.72.28 %7.02 %6.55 % 1.00
JSW Steel Ltd 2,17,511 Cr. 889959/72331.2 3180.82 %13.3 %11.8 % 1.00
Industry Average33,606.52 Cr335.2160.80134.350.30%8.80%7.13%7.00

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales314281292343383335258249286269248230253
Expenses265209244282338263231223245228221195220
Operating Profit49724860457227264141283534
OPM %16%26%16%18%12%21%11%11%14%15%11%15%13%
Other Income03201034611515910
Interest4333322323333
Depreciation8545755675559
Profit before tax38674253446824233248353631
Tax %15%25%28%26%17%25%29%26%25%18%19%23%-22%
Net Profit32503039375117172440292737
EPS in Rs16.7626.3715.9720.6319.2126.659.018.9312.6720.7615.0214.3119.62

Last Updated: July 11, 2024, 8:04 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: July 11, 2024, 12:45 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales5715495195197219789658128741,2961,1281,000
Expenses5184904594546378457856887391,073961864
Operating Profit5259606584134180124134223167137
OPM %9%11%12%13%12%14%19%15%15%17%15%14%
Other Income2222310225171349
Interest172021211918161010121012
Depreciation91316161515162322222324
Profit before tax282924305311015093107207147150
Tax %33%37%36%35%35%36%35%16%25%24%26%11%
Net Profit191816193471987880157109133
EPS in Rs9.979.568.1810.1218.0837.1251.5240.9742.1982.1757.2569.72
Dividend Payout %0%0%12%10%6%3%4%2%2%1%2%1%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-5.26%-11.11%18.75%78.95%108.82%38.03%-20.41%2.56%96.25%-30.57%22.02%
Change in YoY Net Profit Growth (%)0.00%-5.85%29.86%60.20%29.88%-70.80%-58.44%22.97%93.69%-126.82%52.59%

Growth

Compounded Sales Growth
10 Years:6%
5 Years:1%
3 Years:5%
TTM:-11%
Compounded Profit Growth
10 Years:22%
5 Years:6%
3 Years:19%
TTM:30%
Stock Price CAGR
10 Years:%
5 Years:24%
3 Years:25%
1 Year:28%
Return on Equity
10 Years:18%
5 Years:17%
3 Years:17%
Last Year:15%

Last Updated: July 16, 2024, 4:44 pm

Balance Sheet

Last Updated: July 11, 2024, 12:45 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital191919191919191919191919
Reserves130148161178213281377451529685792924
Borrowings14116817416418618212189155276243224
Other Liabilities154131174148104112958274716995
Total Liabilities4444675285105215956126407781,0501,1231,262
Fixed Assets127190198192189187208213207197250322
CWIP61272124232523212223213273
Investments00000003576105211186
Other Assets256249309294309382381372473724448480
Total Assets4444675285105215956126407781,0501,1231,262

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 633837453748568095-106404129
Cash from Investing Activity -50-42-18-12-11-15-36-60-58-30-370-90
Cash from Financing Activity -144-17-34-21-39-19-18-13110-37-38
Net Cash Flow-1-12-15-61224-25-31

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-89.00-109.00-114.00-99.00-102.00-48.0059.0035.00-21.00-53.00-76.00-87.00

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

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days494844455643494543664557
Inventory Days100949513913611796133167164126121
Days Payable697345865625202220231618
Cash Conversion Cycle79689498135135125155191207156159
Working Capital Days937792110117113109118136156120117
ROCE %18%16%16%13%14%19%29%33%19%18%24%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters69.15%69.15%69.15%69.15%69.15%69.15%69.15%69.15%71.49%71.49%71.49%71.49%
Public30.85%30.85%30.85%30.85%30.85%30.84%30.86%30.84%28.49%28.50%28.50%28.50%
No. of Shareholders1,9962,5292,5152,9543,4903,7914,0414,1644,2015,6295,9106,795

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)68.3655.0182.8842.7741.17
Diluted EPS (Rs.)68.3655.0182.8842.7741.17
Cash EPS (Rs.)81.8869.0093.3953.8753.01
Book Value[Excl.RevalReserv]/Share (Rs.)501.28424.37370.41288.62246.89
Book Value[Incl.RevalReserv]/Share (Rs.)501.28424.37370.41288.62246.89
Revenue From Operations / Share (Rs.)524.07591.08679.08457.97425.32
PBDIT / Share (Rs.)97.0094.30125.8873.1065.97
PBIT / Share (Rs.)82.9379.96114.5761.3853.89
PBT / Share (Rs.)76.7774.70108.2056.1148.53
Net Profit / Share (Rs.)67.8154.6682.0842.1540.93
NP After MI And SOA / Share (Rs.)68.2954.9982.6142.6041.13
PBDIT Margin (%)18.5015.9518.5315.9615.51
PBIT Margin (%)15.8213.5216.8713.4012.67
PBT Margin (%)14.6412.6315.9312.2511.41
Net Profit Margin (%)12.939.2412.089.209.62
NP After MI And SOA Margin (%)13.039.3012.169.309.67
Return on Networth / Equity (%)13.6212.9522.3014.7516.65
Return on Capital Employeed (%)14.7815.8924.8519.5219.23
Return On Assets (%)10.199.3214.9710.4212.22
Long Term Debt / Equity (X)0.100.150.210.040.05
Total Debt / Equity (X)0.230.270.380.280.18
Asset Turnover Ratio (%)0.831.041.421.231.29
Current Ratio (X)2.613.453.282.953.63
Quick Ratio (X)1.562.071.671.571.58
Inventory Turnover Ratio (X)2.632.572.822.232.23
Dividend Payout Ratio (NP) (%)0.001.811.202.344.85
Dividend Payout Ratio (CP) (%)0.001.441.061.833.75
Earning Retention Ratio (%)0.0098.1998.8097.6695.15
Cash Earning Retention Ratio (%)0.0098.5698.9498.1796.25
Interest Coverage Ratio (X)15.7317.9319.7613.8712.32
Interest Coverage Ratio (Post Tax) (X)12.0011.3913.898.878.64
Enterprise Value (Cr.)1294.03993.981058.30666.58396.06
EV / Net Operating Revenue (X)1.290.880.810.760.48
EV / EBITDA (X)6.995.524.404.783.14
MarketCap / Net Operating Revenue (X)1.070.680.600.620.38
Retention Ratios (%)0.0098.1898.7997.6595.14
Price / BV (X)1.120.951.120.980.66
Price / Net Operating Revenue (X)1.070.680.600.620.38
EarningsYield0.120.130.190.140.25

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 774.49

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.

Undervalued: 8.32% compared to the current price 715

Intrinsic Value: 861.38

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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 20.47% compared to the current price 715

Last 5 Year EPS CAGR: 11.22%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 19.50%, which is a positive sign.
  2. The company has higher reserves (405.75 cr) compared to borrowings (176.92 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (542.58 cr) and profit (94.00 cr) over the years.
  1. The stock has a high average Working Capital Days of 113.17, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 133.50, 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 Beekay Steel Industries Ltd:
    1. Net Profit Margin: 12.93%
      • 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: 14.78% (Industry Average ROCE: %)
      • 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%: 13.62% (Industry Average ROE: %)
      • 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): 12.00
      • 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: 1.56
      • 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: 10.3 (Industry average Stock P/E: )
      • 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: 0.23
      • 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

Beekay Steel Industries Ltd. is a Public Limited Listed company incorporated on 28/03/1981 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L27106WB1981PLC033490 and registration number is 033490. Currently Company is involved in the business activities of Manufacture of hot-rolled and cold-rolled products of steel. Company’s Total Operating Revenue is Rs. 1296.43 Cr. and Equity Capital is Rs. 19.09 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
SteelLansdowne Towers, 4th Floor, Kolkata West Bengal 700020secretarial@beekaysteel.com
http://www.beekaysteel.com
Management
NamePosition Held
Mr. Suresh Chand BansalExecutive Chairman
Mr. Mukesh Chand BansalExecutive Director
Mr. Vikas BansalExecutive Director
Mr. Manav BansalWholeTime Director & CFO
Mr. Gautam BansalWhole Time Director
Mr. Vijay Kumar BansalNon Executive Director
Mr. Bhal Chandra KhaitanIndependent Director
Mr. Ravishankar SridharanIndependent Director
Mr. Srikumar BanerjeeIndependent Director
Mrs. Shyanthi DasguptaIndependent Director
Mr. Bharat Kumar NadhaniIndependent Director
Mr. Pranab Kumar ChakrabartyIndependent Director

FAQ

What is the latest fair value of Beekay Steel Industries Ltd?

The latest fair value of Beekay Steel Industries Ltd is ₹774.49.

What is the Market Cap of Beekay Steel Industries Ltd?

The Market Cap of Beekay Steel Industries Ltd is 1,364 Cr..

What is the current Stock Price of Beekay Steel Industries Ltd as on 21 July 2024?

The current stock price of Beekay Steel Industries Ltd as on 21 July 2024 is 715.

What is the High / Low of Beekay Steel Industries Ltd stocks in FY 2024?

In FY 2024, the High / Low of Beekay Steel Industries Ltd stocks is 845/537.

What is the Stock P/E of Beekay Steel Industries Ltd?

The Stock P/E of Beekay Steel Industries Ltd is 10.3.

What is the Book Value of Beekay Steel Industries Ltd?

The Book Value of Beekay Steel Industries Ltd is 494.

What is the Dividend Yield of Beekay Steel Industries Ltd?

The Dividend Yield of Beekay Steel Industries Ltd is 0.14 %.

What is the ROCE of Beekay Steel Industries Ltd?

The ROCE of Beekay Steel Industries Ltd is 14.6 %.

What is the ROE of Beekay Steel Industries Ltd?

The ROE of Beekay Steel Industries Ltd is 15.2 %.

What is the Face Value of Beekay Steel Industries Ltd?

The Face Value of Beekay Steel Industries Ltd is 10.0.

About the Author

Author Avatar
Getaka

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 Beekay Steel Industries 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