D&H India Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:08 am

Market Cap	133 Cr.
Current Price	162
High / Low	196/76.0
Stock P/E	44.3
Book Value	53.0
Dividend Yield	0.00 %
ROCE	9.89 %
ROE	6.70 %
Face Value	10.0
PEG Ratio	1.08

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

Stock P/E Current Price Intrinsic Value

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Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
GEE Ltd	373 Cr.	143	203/85.0	41.3	78.6	0.00 %	9.30 %	6.50 %	2.00
D&H India Ltd	133 Cr.	162	196/76.0	44.3	53.0	0.00 %	9.89 %	6.70 %	10.0
Esab India Ltd	9,396 Cr.	6,104	6,999/4,619	55.3	226	1.82 %	75.9 %	56.9 %	10.0
Ador Welding Ltd	1,982 Cr.	1,139	1,770/1,107	26.5	351	1.62 %	24.2 %	18.3 %	10.0
Industry Average	2,971.00 Cr	1,887.00		41.85	177.15	0.86%	29.82%	22.10%	8.00

All Competitor Stocks of

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	15.97	20.16	23.70	30.90	32.33	30.43	36.49	39.44	33.25	35.50	42.90	46.18	44.47
Expenses	14.99	19.12	22.39	29.45	30.20	28.31	33.83	36.97	31.41	33.40	40.17	43.35	41.70
Operating Profit	0.98	1.04	1.31	1.45	2.13	2.12	2.66	2.47	1.84	2.10	2.73	2.83	2.77
OPM %	6.14%	5.16%	5.53%	4.69%	6.59%	6.97%	7.29%	6.26%	5.53%	5.92%	6.36%	6.13%	6.23%
Other Income	0.02	0.06	0.20	0.23	0.05	0.04	0.02	0.05	0.02	0.02	0.02	0.12	0.01
Interest	0.38	0.28	0.35	0.41	0.46	0.53	0.56	0.53	0.69	0.72	0.81	0.78	1.01
Depreciation	0.43	0.46	0.45	0.28	0.40	0.43	0.44	0.47	0.47	0.47	0.51	0.63	0.68
Profit before tax	0.19	0.36	0.71	0.99	1.32	1.20	1.68	1.52	0.70	0.93	1.43	1.54	1.09
Tax %	-10.53%	-19.44%	5.63%	-11.11%	6.82%	19.17%	34.52%	38.82%	12.86%	44.09%	30.07%	64.29%	27.52%
Net Profit	0.21	0.43	0.67	1.10	1.23	0.97	1.10	0.92	0.62	0.53	1.01	0.55	0.79
EPS in Rs	0.28	0.58	0.91	1.49	1.66	1.31	1.41	1.18	0.76	0.65	1.23	0.67	0.96

Last Updated: October 7, 2024, 8:16 am

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	TTM
Sales	69	71	66	63	60	69	79	79	68	91	139	158	169
Expenses	64	66	63	59	56	65	74	77	66	86	129	148	159
Operating Profit	5	5	3	3	4	3	6	2	2	5	9	10	10
OPM %	8%	7%	5%	5%	6%	5%	7%	2%	3%	5%	7%	6%	6%
Other Income	0	0	1	0	0	0	0	-0	0	0	0	0	0
Interest	1	1	1	1	2	2	2	2	1	1	2	3	3
Depreciation	1	1	2	2	2	2	2	2	2	2	2	2	2
Profit before tax	4	3	2	0	0	0	2	-2	-1	2	6	5	5
Tax %	33%	35%	27%	38%	42%	40%	22%	-9%	-18%	-7%	26%	41%
Net Profit	3	2	1	0	0	0	2	-2	-1	2	4	3	3
EPS in Rs	3.50	2.65	1.59	0.39	0.39	0.26	2.58	-2.32	-1.05	3.24	5.42	3.30	3.51
Dividend Payout %	14%	19%	31%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-33.33%	-50.00%	-100.00%	-200.00%	50.00%	300.00%	100.00%	-25.00%
Change in YoY Net Profit Growth (%)	0.00%	-16.67%	-50.00%	-100.00%	250.00%	250.00%	-200.00%	-125.00%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	8%
5 Years:	15%
3 Years:	33%
TTM:	27%

Compounded Profit Growth
10 Years:	3%
5 Years:	6%
3 Years:	75%
TTM:	-5%

Stock Price CAGR
10 Years:	26%
5 Years:	55%
3 Years:	94%
1 Year:	107%

Return on Equity
10 Years:	3%
5 Years:	4%
3 Years:	9%
Last Year:	7%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 1:54 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	7	7	7	7	7	7	7	7	7	7	8	8	8
Reserves	20	21	22	22	23	23	25	23	22	24	30	34	35
Borrowings	4	5	10	14	15	13	16	16	15	18	28	45	52
Other Liabilities	13	21	17	15	16	19	17	15	12	16	19	14	18
Total Liabilities	45	54	56	59	60	63	65	61	56	66	85	101	114
Fixed Assets	16	20	22	22	21	19	18	16	14	17	21	29	39
CWIP	0	1	0	0	0	0	0	0	1	0	0	4	0
Investments	0	0	0	0	0	0	0	0	0	0	0	0	1
Other Assets	28	33	34	37	39	43	47	45	41	49	63	68	74
Total Assets	45	54	56	59	60	63	65	61	56	66	85	101	114

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 +	4	4	1	-1	2	2	-1	-0	2	1	5	-0
Cash from Investing Activity +	-0	-6	-1	-0	-2	0	0	1	-1	-5	-9	-14
Cash from Financing Activity +	-1	-1	1	2	-1	-3	1	-1	-2	4	4	15
Net Cash Flow	2	-2	0	0	-0	-0	-0	-0	-0	-0	0	0

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	1.00	0.00	-7.00	-11.00	-11.00	-10.00	-10.00	-14.00	-13.00	-13.00	-19.00	-35.00

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	71	68	64	85	81	80	76	74	88	73	74	80
Inventory Days	68	124	151	161	202	180	172	164	161	138	96	76
Days Payable	50	99	79	81	86	100	77	62	54	63	48	25
Cash Conversion Cycle	90	93	137	165	196	160	172	176	194	148	122	132
Working Capital Days	56	52	80	111	130	119	131	135	161	132	120	127
ROCE %	16%	12%	7%	5%	5%	4%	9%	1%	1%	8%	13%	10%

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	48.92%	48.92%	48.92%	48.92%	48.92%	51.46%	49.81%	52.26%	52.26%	52.26%	52.26%	52.26%
DIIs	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
Public	51.05%	51.05%	51.05%	51.05%	51.07%	48.51%	50.15%	47.71%	47.71%	47.71%	47.70%	47.71%
No. of Shareholders	4,059	3,815	3,802	3,849	4,190	4,303	3,983	4,214	4,331	4,794	4,881	4,839

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.)	3.42	5.56	2.99	-0.92	-2.34
Diluted EPS (Rs.)	3.42	5.43	2.99	-0.92	-2.34
Cash EPS (Rs.)	5.84	7.66	5.42	1.29	0.09
Book Value[Excl.RevalReserv]/Share (Rs.)	50.98	48.41	42.50	39.44	41.02
Book Value[Incl.RevalReserv]/Share (Rs.)	50.98	48.41	42.50	39.44	41.02
Revenue From Operations / Share (Rs.)	192.75	178.08	122.61	91.37	106.78
PBDIT / Share (Rs.)	11.82	12.23	7.15	2.91	2.71
PBIT / Share (Rs.)	9.29	9.99	4.97	0.56	0.29
PBT / Share (Rs.)	5.63	7.33	3.04	-1.28	-2.55
Net Profit / Share (Rs.)	3.30	5.42	3.24	-1.05	-2.32
NP After MI And SOA / Share (Rs.)	3.30	5.42	3.24	-1.05	-2.32
PBDIT Margin (%)	6.13	6.87	5.83	3.18	2.53
PBIT Margin (%)	4.81	5.61	4.05	0.61	0.27
PBT Margin (%)	2.92	4.11	2.48	-1.40	-2.39
Net Profit Margin (%)	1.71	3.04	2.64	-1.14	-2.17
NP After MI And SOA Margin (%)	1.71	3.04	2.64	-1.14	-2.17
Return on Networth / Equity (%)	6.48	11.19	7.63	-2.66	-5.66
Return on Capital Employeed (%)	13.31	16.24	9.61	1.17	0.64
Return On Assets (%)	2.68	4.97	3.63	-1.38	-2.83
Long Term Debt / Equity (X)	0.28	0.20	0.15	0.14	0.05
Total Debt / Equity (X)	1.06	0.56	0.64	0.47	0.47
Asset Turnover Ratio (%)	1.70	1.84	1.49	1.16	1.26
Current Ratio (X)	1.54	1.70	1.73	1.97	1.64
Quick Ratio (X)	0.97	0.94	0.78	0.87	0.68
Inventory Turnover Ratio (X)	4.47	4.06	2.82	1.93	2.15
Interest Coverage Ratio (X)	3.23	4.60	3.72	1.55	1.11
Interest Coverage Ratio (Post Tax) (X)	1.90	3.04	2.69	0.42	0.21
Enterprise Value (Cr.)	117.63	62.66	39.43	24.54	23.98
EV / Net Operating Revenue (X)	0.74	0.45	0.43	0.36	0.30
EV / EBITDA (X)	12.15	6.58	7.45	11.41	11.95
MarketCap / Net Operating Revenue (X)	0.46	0.30	0.21	0.16	0.13
Price / BV (X)	1.78	1.11	0.62	0.38	0.33
Price / Net Operating Revenue (X)	0.46	0.30	0.21	0.16	0.13
EarningsYield	0.03	0.10	0.12	-0.07	-0.16

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 160.46

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 21, 2024, is Overvalued by 0.95% compared to the current share price 162.00

Intrinsic Value of as of December 21, 2024 is: 226.14

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 21, 2024, is Undervalued by 39.59% compared to the current share price 162.00

Last 5 Year EPS CAGR: 40.93%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (24.92 cr) compared to borrowings (19.31 cr), indicating strong financial stability. The company has shown consistent growth in sales (90.85 cr) and profit (2.00 cr) over the years.	The stock has a low average ROCE of 7.58%, which may not be favorable. The stock has a high average Working Capital Days of 112.83, which may not be favorable. The stock has a high average Cash Conversion Cycle of 148.75, which may not be favorable.

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 :
1. Net Profit Margin: 1.71%
  - 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: 13.31% (Industry Average ROCE: 29.82%)
  - 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%: 6.48% (Industry Average ROE: 22.1%)
  - 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): 1.9
  - 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: 0.97
  - 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: 44.3 (Industry average Stock P/E: 41.85)
  - 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: 1.06
  - 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

D & H India Ltd. is a Public Limited Listed company incorporated on 30/03/1985 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L28900MH1985PLC035822 and registration number is 035822. Currently company belongs to the Industry of Welding Equipments. Company’s Total Operating Revenue is Rs. 90.73 Cr. and Equity Capital is Rs. 7.40 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Welding Equipments	A-204, Kailash Esplanade, Opp. Shreyas Cinema, Mumbai Maharashtra 400086	ho@dnhindia.com http://www.dnhindia.com

Management
Name	Position Held
Mr. Sunil Kathariya	Chairman & Ind.Director
Mr. Harsh Vora	Managing Director
Mr. Saurabh Vora	Whole Time Director
Mrs. Atithi Vora	Woman Non Executive Director
Mr. Eshanya Biharielall Guppta	Independent Director
Mr. Balraj Kishore Namdeo	Independent Director
Mrs. Suhani Doshi	Woman Non Executive Director
Mr. Rajendra Bandi	Independent Director
Mr. Somendra Sharma	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹160.46, which is 0.95% lower than the current market price of ₹162.00. The stock has a market capitalization of 133 Cr. and recorded a high/low of 196/76.0 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹35 Cr and total liabilities of ₹114 Cr.

What is the Market Cap of ?

The Market Cap of is 133 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 162.

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

In FY 2024-2025, the High / Low of stocks is 196/76.0.

What is the Stock P/E of ?

The Stock P/E of is 44.3.

What is the Book Value of ?

The Book Value of is 53.0.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 9.89 %.

What is the ROE of ?

The ROE of is 6.70 %.

What is the Face Value of ?

The Face Value of is 10.0.