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Last Updated on: 21 June, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 520113 | NSE: VESUVIUS

Fundamental Analysis of Vesuvius India Ltd

Basic Stock Data

Last Updated: June 20, 2024, 10:19 pm

Market Cap 10,935 Cr.
Current Price 5,395
High / Low6,000/2,219
Stock P/E45.9
Book Value 588
Dividend Yield0.24 %
ROCE26.1 %
ROE19.4 %
Face Value 10.0
PEG Ratio1.31

Competitors of Vesuvius India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Associated Ceramics Ltd 99.1 Cr. 3301,408/108115 71.40.00 %6.16 %3.45 % 10.0
Industry Average99.10 Cr330.00115.0071.400.00%6.16%3.45%10.00

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales249272268259312330353348368405413417453
Expenses225244240239278289303309313335331337358
Operating Profit24282820334150405570828095
OPM %9%10%10%8%11%12%14%11%15%17%20%19%21%
Other Income45555567118878
Interest-0-0-0-0-0-0-0-0-0-0000
Depreciation667877898891110
Profit before tax22262618323949375870817692
Tax %25%26%26%26%25%25%26%26%25%25%25%25%25%
Net Profit16191913242936284352605769
EPS in Rs7.959.559.566.4711.6414.5017.7813.6221.3625.7429.7028.1233.89

Last Updated: June 10, 2024, 6:59 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 6:20 am

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023TTM
Sales5646026527008229119258877921,0471,3431,6031,689
Expenses4664895525746707457777667149471,1781,3141,362
Operating Profit9811210112615216714812177100165289327
OPM %17%19%15%18%18%18%16%14%10%10%12%18%19%
Other Income2591013923292120233532
Interest1101111111121
Depreciation16181923273028272627303639
Profit before tax8399901121361451421237292157285320
Tax %33%34%34%35%35%35%35%31%26%26%26%25%
Net Profit56655974899493865368117213238
EPS in Rs27.4732.1129.1536.2643.7946.5445.5942.1526.1433.5357.54104.92117.45
Dividend Payout %16%15%24%17%15%15%15%21%27%24%14%12%

Profit & Loss Yearly Chart

Unable to calculate Year-wise YoY Net Profit Growth.

Growth

Compounded Sales Growth
10 Years:10%
5 Years:12%
3 Years:27%
TTM:21%
Compounded Profit Growth
10 Years:12%
5 Years:18%
3 Years:59%
TTM:75%
Stock Price CAGR
10 Years:24%
5 Years:38%
3 Years:72%
1 Year:137%
Return on Equity
10 Years:13%
5 Years:12%
3 Years:14%
Last Year:19%

Last Updated: June 16, 2024, 4:47 pm

Balance Sheet

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Equity Capital202020202020202020202020
Reserves3233774194775626417177848228769771,173
Borrowings0000000000013
Other Liabilities117120139147161193188177216292333382
Total Liabilities4605185786447438549259811,0581,1881,3311,589
Fixed Assets117134132131124113121124120116194316
CWIP22520141638262821273886
Investments000000000000
Other Assets3213794264996037037798299171,0451,0981,187
Total Assets4605185786447438549259811,0581,1881,3311,589

Reserves and Borrowings Chart

Cash Flow

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Cash from Operating Activity 506465545019195741022712882
Cash from Investing Activity -20-53-28-21212-310297-503-39-6-37
Cash from Financing Activity -10-11-14-15-15-16-17-17-14-14-16-18
Net Cash Flow201231856177-231354-415-2610628

Free Cash Flow

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Free Cash Flow98.00112.00101.00126.00152.00167.00148.00121.0077.00100.00165.00276.00

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

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Debtor Days10810810511811988727775575774
Inventory Days59656968776984779112492105
Days Payable88838797981119889122130112118
Cash Conversion Cycle799187909846586544523860
Working Capital Days8488829110259586351554165
ROCE %26%27%22%24%25%24%20%16%9%11%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters55.57%55.57%55.57%55.57%55.57%55.57%55.57%55.57%55.57%55.57%55.57%55.57%
FIIs1.89%1.84%1.94%0.65%0.55%0.60%0.83%0.86%0.84%0.77%1.26%1.73%
DIIs22.48%22.12%23.86%25.18%25.17%24.47%24.10%23.21%23.30%23.20%23.28%23.26%
Public20.07%20.47%18.63%18.61%18.71%19.37%19.50%20.37%20.29%20.46%19.90%19.43%
No. of Shareholders13,52215,22414,48014,96614,97315,37216,49016,82616,97517,28720,53121,474

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Multi Cap Fund1,626,6022.24577.4194,1772024-06-191627.18%
HDFC Mid-Cap Opportunities Fund - Regular Plan736,3020.44261.3794,1772024-06-19681.83%
Axis Small Cap Fund690,2961.25245.0494,1772024-06-19632.98%
HDFC Small Cap Fund - Regular Plan389,7840.48138.3794,1772024-06-19313.88%
HDFC Multi Cap Fund387,7731.17137.6594,1772024-06-19311.75%
Nippon India Small Cap Fund288,0000.22102.2394,1772024-06-19205.81%
Tata Small Cap Fund231,2561.3482.0994,1772024-06-19145.55%
Tata Mid Cap Growth Fund - Regular Plan94,1771.0433.4394,1772024-06-190%
HDFC Retirement Savings Fund - Hybrid Equity - Regular Plan36,0000.9712.7894,1772024-06-19-61.77%
WhiteOak Capital Flexi Cap Fund30,8900.3710.9794,1772024-06-19-67.2%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthDec 23Dec 22Dec 21Dec 20Dec 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)104.9257.5433.5326.1342.15
Diluted EPS (Rs.)104.9257.5433.5326.1342.15
Cash EPS (Rs.)122.5972.2446.9939.0655.22
Book Value[Excl.RevalReserv]/Share (Rs.)587.95491.52441.53414.68396.28
Book Value[Incl.RevalReserv]/Share (Rs.)587.95491.52441.53414.68396.28
Dividend / Share (Rs.)12.758.258.007.007.00
Revenue From Operations / Share (Rs.)789.72661.37515.84389.91436.96
PBDIT / Share (Rs.)158.5091.9858.5748.1773.87
PBIT / Share (Rs.)140.8077.2745.1035.2560.79
PBT / Share (Rs.)140.5977.2745.1035.2560.79
Net Profit / Share (Rs.)104.9057.5333.5226.1342.14
PBDIT Margin (%)20.0713.9011.3512.3516.90
PBIT Margin (%)17.8211.688.749.0313.91
PBT Margin (%)17.8011.688.749.0313.91
Net Profit Margin (%)13.288.696.496.709.64
Return on Networth / Equity (%)17.8411.707.596.3010.63
Return on Capital Employeed (%)23.2215.339.958.2815.00
Return On Assets (%)13.408.775.725.018.71
Asset Turnover Ratio (%)1.101.070.930.770.93
Current Ratio (X)3.103.343.654.464.92
Quick Ratio (X)2.382.672.853.864.24
Inventory Turnover Ratio (X)2.642.452.692.802.94
Dividend Payout Ratio (NP) (%)7.8613.9020.8826.7820.02
Dividend Payout Ratio (CP) (%)6.7211.0714.8917.9215.28
Earning Retention Ratio (%)92.1486.1079.1273.2279.98
Cash Earning Retention Ratio (%)93.2888.9385.1182.0884.72
Interest Coverage Ratio (X)748.260.000.000.000.00
Interest Coverage Ratio (Post Tax) (X)496.210.000.000.000.00
Enterprise Value (Cr.)6817.432711.201644.131658.001763.03
EV / Net Operating Revenue (X)4.252.021.572.091.99
EV / EBITDA (X)21.1914.5213.8316.9511.76
MarketCap / Net Operating Revenue (X)4.542.442.102.802.52
Retention Ratios (%)92.1386.0979.1173.2179.97
Price / BV (X)6.103.292.452.632.77
Price / Net Operating Revenue (X)4.542.442.102.802.52
EarningsYield0.020.030.030.020.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 5,248.47

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.

Overvalued: 2.72% compared to the current price 5395

Intrinsic Value: 7,088.30

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: 31.39% compared to the current price ₹5395

Last 5 Year EPS CAGR: 35.05%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 18.42%, which is a positive sign.
  2. The company has higher reserves (679.00 cr) compared to borrowings (1.08 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (527.62 cr) and profit (142.77 cr) over the years.
  1. The stock has a high average Working Capital Days of 69.92, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 67.33, 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 Vesuvius India Ltd:
    1. Net Profit Margin: 13.28%
      • 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: 23.22% (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%: 17.84% (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): 496.21
      • 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: 2.38
      • 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: 45.9 (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: N/A
      • 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

Vesuvius India Ltd. is a Public Limited Listed company incorporated on 06/09/1991 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L26933WB1991PLC052968 and registration number is 052968. Currently company belongs to the Industry of Refractories. Company’s Total Operating Revenue is Rs. 1047.16 Cr. and Equity Capital is Rs. 20.30 Cr. for the Year ended 31/12/2021.
INDUSTRYADDRESSCONTACT
RefractoriesP-104, Taratala Road, Kolkata West Bengal 700088vesuviusindia@vesuvius.com
http://www.vesuviusindia.in
Management
NamePosition Held
Mr. Biswadip GuptaChairman
Mr. Nitin JainManaging Director
Mr. Sudipto SarkarDirector
Mr. Pascal GenestDirector
Ms. Nayantara PalchoudhuriDirector
Mr. Patrick AndreDirector
Mr. Henry KnowlesDirector

FAQ

What is the latest fair value of Vesuvius India Ltd?

The latest fair value of Vesuvius India Ltd is ₹5248.47.

What is the Market Cap of Vesuvius India Ltd?

The Market Cap of Vesuvius India Ltd is 10,935 Cr..

What is the current Stock Price of Vesuvius India Ltd as on 21 June 2024?

The current stock price of Vesuvius India Ltd as on 21 June 2024 is ₹5,395.

What is the High / Low of Vesuvius India Ltd stocks in FY 2024?

In FY 2024, the High / Low of Vesuvius India Ltd stocks is 6,000/2,219.

What is the Stock P/E of Vesuvius India Ltd?

The Stock P/E of Vesuvius India Ltd is 45.9.

What is the Book Value of Vesuvius India Ltd?

The Book Value of Vesuvius India Ltd is 588.

What is the Dividend Yield of Vesuvius India Ltd?

The Dividend Yield of Vesuvius India Ltd is 0.24 %.

What is the ROCE of Vesuvius India Ltd?

The ROCE of Vesuvius India Ltd is 26.1 %.

What is the ROE of Vesuvius India Ltd?

The ROE of Vesuvius India Ltd is 19.4 %.

What is the Face Value of Vesuvius India Ltd?

The Face Value of Vesuvius India 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 Vesuvius India 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