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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Ganga Forging Ltd

About the Company - Ganga Forging Ltd

Ganga Forging Ltd. is a Public Limited Listed company incorporated on 29/12/1988 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L28910GJ1988PLC011694 and registration number is 011694. Currently Company is involved in the business activities of Forging, pressing, stamping and roll-forming of metal; powder metallurgy. Company’s Total Operating Revenue is Rs. 28.66 Cr. and Equity Capital is Rs. 10.60 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
ForgingsSr. No 55/1 P6/P1/P1, Near Shree Stamping, Rajkot Gondal National Highway, Rajkot Dist. Gujarat 360311info@gangaforging.com
http://www.gangaforging.com
Management
NamePosition Held
Mr. Hiralal TilvaChairman & Managing Director
Mr. Rakesh PatelManaging Director
Mrs. Sheetal ChaniaraWhole Time Director
Mrs. Parul PatelWhole Time Director
Mr. Ramesh DhinganiInd.& Non Exe.Director
Mr. Jasubhai PatelInd.& Non Exe.Director
Mr. Sagarkumar GovaniInd.& Non Exe.Director
Mr. Nayankumar VirpariaInd.& Non Exe.Director

Ganga Forging Ltd. Share Price Update

Share PriceValue
Today₹13.40
Previous Day₹13.65

Basic Stock Data of Ganga Forging Ltd

Market Cap 149 Cr.
Current Price 13.4
High / Low17.5/3.00
Stock P/E92.9
Book Value 1.23
Dividend Yield0.00 %
ROCE4.67 %
ROE9.28 %
Face Value 1.00

Data Source: screener.in

Ganga Forging Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales6.007.385.317.748.127.497.639.218.138.449.868.578.55
Expenses5.557.324.877.157.186.917.298.797.597.759.348.037.91
Operating Profit0.450.060.440.590.940.580.340.420.540.690.520.540.64
OPM %7.50%0.81%8.29%7.62%11.58%7.74%4.46%4.56%6.64%8.18%5.27%6.30%7.49%
Other Income0.000.290.270.740.02-0.020.000.090.000.350.000.030.01
Interest0.280.230.110.210.110.270.100.230.220.260.160.180.22
Depreciation0.220.220.220.220.220.220.220.220.220.210.220.220.22
Profit before tax-0.05-0.100.380.900.630.070.020.060.100.570.140.170.21
Tax %-40.00%250.00%2.63%1.11%-6.35%1,371.43%150.00%-50.00%40.00%-142.11%14.29%-29.41%-9.52%
Net Profit-0.070.150.370.890.66-0.89-0.010.090.071.370.120.220.23
EPS in Rs-0.010.010.030.080.06-0.08-0.000.010.010.130.010.020.02

Ganga Forging Ltd Quarterly Chart

Ganga Forging Ltd Profit & Loss

MonthMar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales8.9817.3624.8727.8823.6422.9828.8333.4135.00
Expenses8.1516.2222.9025.5324.3921.2826.2831.4132.71
Operating Profit0.831.141.972.35-0.751.702.552.002.29
OPM %9.24%6.57%7.92%8.43%-3.17%7.40%8.84%5.99%6.54%
Other Income0.010.020.030.170.100.101.260.570.38
Interest0.330.460.791.121.270.790.950.810.82
Depreciation0.300.410.500.740.880.870.880.880.87
Profit before tax0.210.290.710.66-2.800.141.980.880.98
Tax %42.86%72.41%35.21%21.21%24.64%-85.71%47.47%-88.64%
Net Profit0.110.090.460.52-2.120.251.031.661.78
EPS in Rs2.201.800.060.05-0.200.020.100.160.17
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Ganga Forging Ltd Profit & Loss Yearly Chart

Ganga Forging Ltd Growth

Compounded Sales Growth
10 Years:%
5 Years:6%
3 Years:12%
TTM:9%
Compounded Profit Growth
10 Years:%
5 Years:20%
3 Years:37%
TTM:316%
Stock Price CAGR
10 Years:%
5 Years:52%
3 Years:65%
1 Year:256%
Return on Equity
10 Years:%
5 Years:1%
3 Years:6%
Last Year:9%

Ganga Forging Ltd Balance Sheet

MonthMar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital0.350.355.577.957.9510.6010.6010.6010.60
Reserves0.870.963.026.174.050.121.052.743.00
Borrowings4.372.847.8312.6711.5710.5411.6714.3010.63
Other Liabilities2.705.428.758.479.489.697.737.0815.51
Total Liabilities8.299.5725.1735.2633.0530.9531.0534.7239.74
Fixed Assets1.951.899.3415.6815.0514.5513.9015.5516.41
CWIP0.000.000.000.000.360.002.210.750.00
Investments0.000.000.000.000.000.000.000.000.00
Other Assets6.347.6815.8319.5817.6416.4014.9418.4223.33
Total Assets8.299.5725.1735.2633.0530.9531.0534.7239.74

Ganga Forging Ltd Reserves and Borrowings Chart

Ganga Forging Ltd Cash Flow

MonthMar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 0.000.00-1.832.351.981.33-1.09
Cash from Investing Activity 0.000.00-6.91-0.60-0.03-1.69-0.56
Cash from Financing Activity 0.000.008.81-1.76-1.830.191.81
Net Cash Flow0.000.000.07-0.020.12-0.170.17

Ganga Forging Ltd Financial Efficiency Indicators

MonthMar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days144.2997.14119.32119.79135.56114.8461.0262.38
Inventory Days155.4687.56132.52204.65181.30182.42
Days Payable151.16159.41162.53183.9282.4375.71
Cash Conversion Cycle148.5925.2989.31119.79135.56135.56159.89169.09
Working Capital Days125.6039.5373.38127.51103.45113.88116.10134.92
ROCE %15.40%7.50%-6.08%4.33%9.78%4.67%

Ganga Forging Ltd Financial Efficiency Indicators Chart

No valid data available for the Shareholding

Ganga Forging Ltd Shareholding Pattern Chart

No. of Ganga Forging Ltd Shareholders

This stock is not held by any mutual fund

Ganga Forging Ltd ROCE Trend

Ganga Forging Ltd EPS Trend

Ganga Forging Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.0010.0010.0010.00
Basic EPS (Rs.)0.160.100.10-2.660.71
Diluted EPS (Rs.)0.160.100.10-2.660.71
Cash EPS (Rs.)0.230.180.92-1.551.58
Book Value[Excl.RevalReserv]/Share (Rs.)1.261.1011.4215.1017.76
Book Value[Incl.RevalReserv]/Share (Rs.)1.261.1011.4215.1017.76
Revenue From Operations / Share (Rs.)3.152.7021.6929.7735.08
PBDIT / Share (Rs.)0.190.281.74-0.823.16
PBIT / Share (Rs.)0.110.200.91-1.932.24
PBT / Share (Rs.)0.080.180.16-3.520.83
Net Profit / Share (Rs.)0.150.090.10-2.660.65
PBDIT Margin (%)6.1810.658.00-2.769.02
PBIT Margin (%)3.567.584.20-6.486.38
PBT Margin (%)2.636.880.75-11.842.37
Net Profit Margin (%)4.953.600.46-8.941.86
Return on Networth / Equity (%)12.428.870.88-17.633.69
Return on Capital Employeed (%)6.2411.585.92-9.499.18
Return On Assets (%)4.773.330.34-6.401.48
Long Term Debt / Equity (X)0.320.410.340.340.34
Total Debt / Equity (X)1.071.000.750.930.82
Asset Turnover Ratio (%)1.020.920.710.690.92
Current Ratio (X)1.161.191.050.981.20
Quick Ratio (X)0.440.450.520.540.64
Inventory Turnover Ratio (X)2.312.381.932.002.62
Interest Coverage Ratio (X)2.563.232.32-0.512.25
Interest Coverage Ratio (Post Tax) (X)2.431.301.14-0.661.47
Enterprise Value (Cr.)46.4493.2554.4920.2928.87
EV / Net Operating Revenue (X)1.393.252.370.851.04
EV / EBITDA (X)22.4530.5329.60-31.0411.48
MarketCap / Net Operating Revenue (X)0.962.851.980.380.61
Price / BV (X)2.427.003.760.761.22
Price / Net Operating Revenue (X)0.962.851.980.380.61
EarningsYield0.050.010.00-0.230.03

Ganga Forging Ltd Profitability Ratios (%)

Ganga Forging Ltd Liquidity Ratios

Ganga Forging Ltd Liquidity Ratios (%)

Ganga Forging Ltd Interest Coverage Ratios (%)

Ganga Forging Ltd Valuation Ratios

Fair Value of Ganga Forging Ltd Stock

Fair Value: ₹10.82

The stock is overvalued by 19.28% compared to the current price ₹13.4

*Investments are subject to market risks

Strength and Weakness of Ganga Forging Ltd Stock

StrengthWeakness
  1. The company has shown consistent growth in sales (24.77 cr) and profit (0.34 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 0.31 and average Dividend Yield of 0.16%.
  2. The stock has a low average ROCE of 4.45%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 104.30, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 122.89, which may not be favorable.
  5. The company has higher borrowings (9.60) compared to reserves (2.44), which may suggest financial risk.

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 Ganga Forging 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