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Last Updated on: 22 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 543725 | NSE: ELIN

Fundamental Analysis of Elin Electronics Ltd

Share Price and Basic Stock Data

Last Updated: July 22, 2024, 10:02 pm

Market Cap 951 Cr.
Current Price 192
High / Low222/129
Stock P/E68.5
Book Value 101
Dividend Yield0.52 %
ROCE5.12 %
ROE2.78 %
Face Value 5.00
PEG Ratio-1.90

Data Source: screener.in

Competitors of Elin Electronics Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Elin Electronics Ltd 951 Cr. 192222/12968.5 1010.52 %5.12 %2.78 % 5.00
CWD Ltd 251 Cr. 6961,095/532222 63.70.00 %10.0 %5.16 % 10.0
Calcom Vision Ltd 182 Cr. 135205/118138 56.60.00 %6.48 %1.89 % 10.0
Whirlpool of India Ltd 25,892 Cr. 2,0382,199/1,186113 2910.25 %9.07 %6.36 % 10.0
Voltas Ltd 49,055 Cr. 1,4831,560/757198 1760.37 %8.51 %4.40 % 1.00
Industry Average24,248.91 Cr1,764.56113.21119.150.23%17.75%15.27%6.09

Quarterly Result

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales258.52316.99294.12310.34202.25268.72253.83273.34236.71277.83
Expenses242.42291.85282.94279.00189.05259.88244.03263.49228.22265.43
Operating Profit16.1025.1411.1831.3413.208.849.809.858.4912.40
OPM %6.23%7.93%3.80%10.10%6.53%3.29%3.86%3.60%3.59%4.46%
Other Income0.100.140.230.060.141.842.732.111.952.32
Interest2.873.773.304.123.102.552.751.331.892.15
Depreciation3.673.764.294.074.395.864.854.764.777.47
Profit before tax9.6617.753.8223.215.852.274.935.873.785.10
Tax %28.26%27.21%18.06%25.85%21.71%29.52%23.53%33.22%29.89%30.78%
Net Profit6.9312.923.1317.214.591.603.773.922.643.54
EPS in Rs1.633.030.744.040.920.320.760.790.530.71

Last Updated: July 11, 2024, 9:28 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: July 11, 2024, 9:28 am

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales4948297868621,0941,0751,042
Expenses4577717307961,0151,0101,001
Operating Profit38575567796541
OPM %8%7%7%8%7%6%4%
Other Income1112129
Interest913121013138
Depreciation12172012141922
Profit before tax17282447533620
Tax %24%19%24%27%26%25%30%
Net Profit15231935392714
EPS in Rs24.3736.0126.1849.139.205.402.79
Dividend Payout %0%0%0%0%10%18%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)53.33%-17.39%84.21%11.43%-30.77%-48.15%
Change in YoY Net Profit Growth (%)0.00%-70.72%101.60%-72.78%-42.20%-17.38%

Growth

Compounded Sales Growth
10 Years:%
5 Years:5%
3 Years:7%
TTM:-3%
Compounded Profit Growth
10 Years:%
5 Years:-9%
3 Years:-26%
TTM:-48%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:28%
Return on Equity
10 Years:%
5 Years:8%
3 Years:7%
Last Year:3%

Last Updated: July 17, 2024, 4:31 pm

Balance Sheet

Last Updated: July 11, 2024, 9:28 am

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital6577202424
Reserves139185202255283469479
Borrowings6286701141037812
Other Liabilities7110984132127163154
Total Liabilities278385363508533734669
Fixed Assets84122134161188232224
CWIP20000012
Investments2613241412763
Other Assets165250205333343475370
Total Assets278385363508533734669

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 442783-34576243
Cash from Investing Activity -30-30-43-5-28-19736
Cash from Financing Activity -5-4-3334-30131-79
Net Cash Flow9-77-4-1-4-0

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-24.00-29.00-15.00-47.00-24.00-13.0029.00

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 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days61614277596770
Inventory Days56495367545752
Days Payable64554561445851
Cash Conversion Cycle53555083686571
Working Capital Days50503978666286
ROCE %17%13%17%17%10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters32.93%32.97%32.97%32.98%32.99%33.41%
FIIs6.21%2.76%1.46%1.02%0.56%0.35%
DIIs13.15%18.76%14.38%13.66%11.93%11.90%
Public47.71%45.51%51.20%52.32%54.53%54.34%
No. of Shareholders1,14,47687,49788,00386,22583,78278,607

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Infrastructure Fund2,622,9511.3842.491,170,0002024-07-20124.18%
SBI Magnum Childrens Benefit Fund - Investment Plan1,170,0000.9418.951,170,0002024-07-200%
Kotak Business Cycle Fund935,3110.6115.151,170,0002024-07-20-20.06%
SBI Multi Asset Allocation Fund681,5400.2412.371,170,0002024-07-20-41.75%
SBI Magnum Children Benefit Plan70,0001.121.271,170,0002024-07-20-94.02%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue5.005.005.0010.0010.00
Basic EPS (Rs.)2.906.299.5939.0127.30
Diluted EPS (Rs.)2.906.299.5939.0127.30
Cash EPS (Rs.)7.459.4713.1172.5357.08
Book Value[Excl.RevalReserv]/Share (Rs.)104.97102.8974.22345.78306.77
Book Value[Incl.RevalReserv]/Share (Rs.)104.97102.8974.22345.78306.77
Revenue From Operations / Share (Rs.)217.36224.39267.811266.951154.13
PBDIT / Share (Rs.)10.3614.0619.57101.1982.83
PBIT / Share (Rs.)5.8010.1716.0667.6753.05
PBT / Share (Rs.)4.117.4512.9553.4535.92
Net Profit / Share (Rs.)2.895.599.5939.0127.30
NP After MI And SOA / Share (Rs.)2.895.599.5939.0127.30
PBDIT Margin (%)4.766.267.307.987.17
PBIT Margin (%)2.664.535.995.344.59
PBT Margin (%)1.883.314.834.213.11
Net Profit Margin (%)1.332.493.583.072.36
NP After MI And SOA Margin (%)1.332.493.583.072.36
Return on Networth / Equity (%)2.755.4312.9211.288.89
Return on Capital Employeed (%)5.398.9518.8716.8914.46
Return On Assets (%)2.073.657.355.615.11
Long Term Debt / Equity (X)0.000.080.110.150.19
Total Debt / Equity (X)0.020.150.330.390.28
Asset Turnover Ratio (%)1.481.701.981.900.00
Current Ratio (X)2.742.431.741.601.87
Quick Ratio (X)2.031.781.091.031.17
Inventory Turnover Ratio (X)6.346.425.775.770.00
Interest Coverage Ratio (X)6.125.166.297.124.84
Interest Coverage Ratio (Post Tax) (X)2.713.054.083.742.59
Enterprise Value (Cr.)615.19556.890.000.000.00
EV / Net Operating Revenue (X)0.590.510.000.000.00
EV / EBITDA (X)12.398.270.000.000.00
MarketCap / Net Operating Revenue (X)0.610.530.000.000.00
Price / BV (X)1.271.170.000.000.00
Price / Net Operating Revenue (X)0.610.530.000.000.00
EarningsYield0.020.040.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 193.33

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: 0.70% compared to the current price 192

Intrinsic Value: 123.55

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.

Overvalued: 35.65% compared to the current price 192

Last 5 Year EPS CAGR: -36.10%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (287.43 cr) compared to borrowings (75.00 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (424.86 cr) and profit (32.14 cr) over the years.
  1. The stock has a low average ROCE of 10.57%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 61.57, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 63.57, 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 Elin Electronics Ltd:
    1. Net Profit Margin: 1.33%
      • 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: 5.39% (Industry Average ROCE: 17.75%)
      • 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%: 2.75% (Industry Average ROE: 15.27%)
      • 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): 2.71
      • 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: 2.03
      • 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: 68.5 (Industry average Stock P/E: 113.21)
      • 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: 0.02
      • 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

Elin Electronics Ltd. is a Public Limited Listed company incorporated on 26/03/1982 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is U29304WB1982PLC034725 and registration number is 034725. Currently Company is involved in the business activities of Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment. Company’s Total Operating Revenue is Rs. 891.61 Cr. and Equity Capital is Rs. 21.29 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Consumer Electronics143, Cotton Street, Kolkata West Bengal 700007rkc@elinindia.com
http://www.elinindia.com
Management
NamePosition Held
Mr. Mangi Lall SethiaChairman & Wholetime Director
Mr. Kamal SethiaManaging Director
Mr. Sanjeev SethiaWhole Time Director
Mr. Sumit SethiaWhole Time Director
Mr. Ashis Chandra GuhaIndependent Director
Mr. Shanti Lal SarnotIndependent Director
Mr. Kamal Singh BaidIndependent Director
Ms. Shilpa BaidIndependent Director

FAQ

What is the latest fair value of Elin Electronics Ltd?

The latest fair value of Elin Electronics Ltd is ₹193.33.

What is the Market Cap of Elin Electronics Ltd?

The Market Cap of Elin Electronics Ltd is 951 Cr..

What is the current Stock Price of Elin Electronics Ltd as on 22 July 2024?

The current stock price of Elin Electronics Ltd as on 22 July 2024 is 192.

What is the High / Low of Elin Electronics Ltd stocks in FY 2024?

In FY 2024, the High / Low of Elin Electronics Ltd stocks is 222/129.

What is the Stock P/E of Elin Electronics Ltd?

The Stock P/E of Elin Electronics Ltd is 68.5.

What is the Book Value of Elin Electronics Ltd?

The Book Value of Elin Electronics Ltd is 101.

What is the Dividend Yield of Elin Electronics Ltd?

The Dividend Yield of Elin Electronics Ltd is 0.52 %.

What is the ROCE of Elin Electronics Ltd?

The ROCE of Elin Electronics Ltd is 5.12 %.

What is the ROE of Elin Electronics Ltd?

The ROE of Elin Electronics Ltd is 2.78 %.

What is the Face Value of Elin Electronics Ltd?

The Face Value of Elin Electronics Ltd is 5.00.

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 Elin Electronics 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