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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Kalyani Forge Ltd

About the Company - Kalyani Forge Ltd

Kalyani Forge Ltd. is a Public Limited Listed company incorporated on 29/01/1979 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L28910MH1979PLC020959 and registration number is 020959. 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. 246.50 Cr. and Equity Capital is Rs. 3.64 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
ForgingsShangrila Gardens, �C� Wing, 1st Floor, Pune Maharashtra 411001companysecretary@kforge.com
http://www.kalyaniforge.co.in
Management
NamePosition Held
Mrs. Rohini G KalyaniExecutive Chairperson
Mr. Viraj G KalyaniExecutive Director
Mr. Abhijit SenIndependent Director
Mr. Pradip P NadkarniIndependent Director
Mr. Gaurishankar N KalyaniNon Executive Director
Mr. Adit M RathiIndependent Director

Kalyani Forge Ltd. Share Price Update

Share PriceValue
Today₹412.00
Previous Day₹413.00

Basic Stock Data of Kalyani Forge Ltd

Market Cap 156 Cr.
Current Price 427
High / Low573/205
Stock P/E33.8
Book Value 296
Dividend Yield0.70 %
ROCE6.25 %
ROE3.52 %
Face Value 10.0

Data Source: screener.in

Kalyani Forge Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales40.0256.0966.8856.0262.9361.1566.4058.6373.5470.0864.4259.3560.91
Expenses39.3150.6962.2351.5457.3956.4662.4255.9771.9364.1960.1254.2456.22
Operating Profit0.715.404.654.485.544.693.982.661.615.894.305.114.69
OPM %1.77%9.63%6.95%8.00%8.80%7.67%5.99%4.54%2.19%8.40%6.67%8.61%7.70%
Other Income0.360.680.110.250.090.150.821.850.061.361.900.321.08
Interest0.571.170.520.721.050.801.060.730.561.100.981.211.45
Depreciation3.233.173.153.103.123.083.043.082.952.652.502.532.72
Profit before tax-2.731.741.090.911.460.960.700.70-1.843.502.721.691.60
Tax %16.12%-47.70%133.03%12.09%25.34%50.00%-10.00%-65.71%41.85%20.57%72.06%39.05%18.12%
Net Profit-2.292.57-0.360.801.090.480.761.15-1.082.770.761.031.30
EPS in Rs-6.297.06-0.992.203.001.322.093.16-2.977.612.092.833.57

Kalyani Forge Ltd Quarterly Chart

Kalyani Forge Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales278261205241231227259286201181246267255
Expenses238228182226215212237261193168228252235
Operating Profit4033241416152226813191420
OPM %14%13%11%6%7%7%8%9%4%7%8%5%8%
Other Income1222357631155
Interest9856546853435
Depreciation12131313121013151413121110
Profit before tax20147-325910-8-24510
Tax %32%36%33%24%46%33%29%28%15%15%22%29%
Net Profit1395-21377-7-2346
EPS in Rs36.8624.2713.14-6.213.029.5718.0319.13-19.05-4.848.609.9216.10
Dividend Payout %7%10%19%0%66%21%19%21%-5%-31%35%30%

Kalyani Forge Ltd Profit & Loss Yearly Chart

Kalyani Forge Ltd Growth

Compounded Sales Growth
10 Years:0%
5 Years:1%
3 Years:10%
TTM:-9%
Compounded Profit Growth
10 Years:-8%
5 Years:-11%
3 Years:36%
TTM:-4%
Stock Price CAGR
10 Years:15%
5 Years:10%
3 Years:33%
1 Year:74%
Return on Equity
10 Years:2%
5 Years:1%
3 Years:2%
Last Year:4%

Kalyani Forge Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital4444444444444
Reserves889599949498103108989799102104
Borrowings72696047416363473127263857
Other Liabilities54514857607165695156546272
Total Liabilities217219210201199236235227184183183206237
Fixed Assets82837961646084786553443941
CWIP5714178305011239
Investments0000000000000
Other Assets130128117123127147146148118129137164187
Total Assets217219210201199236235227184183183206237

Kalyani Forge Ltd Reserves and Borrowings Chart

Kalyani Forge Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 333019251915123024711-2
Cash from Investing Activity -15-24-6-2-5-41-2-7-1-1-4-6
Cash from Financing Activity -12-11-15-20-1119-8-25-23-7-58
Net Cash Flow7-5-233-72-2-0-12-1

Kalyani Forge Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days8284949298999996103135108105
Inventory Days859213096117156139123143178135173
Days Payable868810611812814614312212314195104
Cash Conversion Cycle818811870871099497123172148173
Working Capital Days706889717684928297137112131
ROCE %19%13%8%2%5%6%9%10%-2%1%6%6%

Kalyani Forge Ltd Financial Efficiency Indicators Chart

Kalyani Forge Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters58.61%58.61%58.61%58.61%58.61%58.61%58.61%58.71%58.71%58.71%58.71%58.71%
Public41.39%41.39%41.39%41.39%41.39%41.39%41.38%41.28%41.29%41.28%41.28%41.29%
No. of Shareholders4,2174,3254,1984,2904,2464,2384,2984,9335,0074,9495,5965,530

Kalyani Forge Ltd Shareholding Pattern Chart

No. of Kalyani Forge Ltd Shareholders

This stock is not held by any mutual fund

Kalyani Forge Ltd ROCE Trend

Kalyani Forge Ltd EPS Trend

Kalyani Forge Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)9.928.61-4.84-19.0419.14
Diluted EPS (Rs.)9.928.61-4.84-19.0419.14
Cash EPS (Rs.)40.6742.5230.4019.1360.46
Book Value[Excl.RevalReserv]/Share (Rs.)289.86282.88275.33280.63306.58
Book Value[Incl.RevalReserv]/Share (Rs.)289.86282.88275.33280.63306.58
Dividend / Share (Rs.)3.003.001.501.004.00
Revenue From Operations / Share (Rs.)732.82677.39496.79552.21786.90
PBDIT / Share (Rs.)58.9454.9337.2430.5988.65
PBIT / Share (Rs.)28.1921.022.00-7.5747.33
PBT / Share (Rs.)13.9211.05-5.69-22.3426.48
Net Profit / Share (Rs.)9.918.61-4.84-19.0319.14
PBDIT Margin (%)8.048.107.495.5411.26
PBIT Margin (%)3.843.100.40-1.376.01
PBT Margin (%)1.891.63-1.14-4.043.36
Net Profit Margin (%)1.351.27-0.97-3.442.43
Return on Networth / Equity (%)3.423.04-1.75-6.786.24
Return on Capital Employeed (%)9.076.980.68-2.5314.16
Return On Assets (%)1.751.70-0.96-3.753.06
Long Term Debt / Equity (X)0.010.000.000.010.05
Total Debt / Equity (X)0.360.250.260.240.33
Asset Turnover Ratio (%)1.371.340.980.971.24
Current Ratio (X)1.691.741.581.461.36
Quick Ratio (X)0.931.080.990.930.90
Inventory Turnover Ratio (X)2.652.802.172.303.08
Dividend Payout Ratio (NP) (%)30.2417.42-20.66-25.2923.10
Dividend Payout Ratio (CP) (%)7.373.523.2825.157.31
Earning Retention Ratio (%)69.7682.58120.66125.2976.90
Cash Earning Retention Ratio (%)92.6396.4896.7274.8592.69
Interest Coverage Ratio (X)6.365.514.842.074.25
Interest Coverage Ratio (Post Tax) (X)2.611.860.37-0.281.92
Enterprise Value (Cr.)113.5187.8193.6152.33134.49
EV / Net Operating Revenue (X)0.420.350.510.260.46
EV / EBITDA (X)5.294.396.914.704.17
MarketCap / Net Operating Revenue (X)0.300.270.380.160.35
Retention Ratios (%)69.7582.57120.66125.2976.89
Price / BV (X)0.760.640.700.320.91
Price / Net Operating Revenue (X)0.300.270.380.160.35
EarningsYield0.040.04-0.02-0.210.06

Kalyani Forge Ltd Profitability Ratios (%)

Kalyani Forge Ltd Liquidity Ratios

Kalyani Forge Ltd Liquidity Ratios (%)

Kalyani Forge Ltd Interest Coverage Ratios (%)

Kalyani Forge Ltd Valuation Ratios

Fair Value of Kalyani Forge Ltd Stock

Fair Value: ₹354.63

The stock is overvalued by 16.95% compared to the current price ₹427

*Investments are subject to market risks

Strength and Weakness of Kalyani Forge Ltd Stock

StrengthWeakness
  1. The company has higher reserves (98.38 cr) compared to borrowings (49.31 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (241.38 cr) and profit (5.62 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 54.07 and average Dividend Yield of 2.40%.
  2. The stock has a low average ROCE of 6.92%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 92.42, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 113.33, which may not be favorable.

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 Kalyani Forge 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