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Last Updated on: 21 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 504220 | NSE: WSI

Fundamental Analysis of WS Industries (India) Ltd

Basic Stock Data

Last Updated: July 20, 2024, 10:25 pm

Market Cap 814 Cr.
Current Price 162
High / Low194/93.4
Stock P/E17.1
Book Value 27.3
Dividend Yield0.00 %
ROCE25.2 %
ROE46.9 %
Face Value 10.0
PEG Ratio0.17

Data Source: screener.in

Competitors of WS Industries (India) Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Urja Global Ltd 1,077 Cr. 20.541.8/8.78528 3.310.00 %1.84 %1.18 % 1.00
Kirloskar Electric Company Ltd 1,607 Cr. 242255/96.4114 12.40.00 %18.3 %16.2 % 10.0
Amalgamated Electricity Company Ltd 15.2 Cr. 54.7111/28.1 0.860.00 %%% 5.00
Salzer Electronics Ltd 1,500 Cr. 863966/31534.7 2680.29 %12.9 %10.1 % 10.0
Servotech Power Systems Ltd 2,478 Cr. 111130/69.5219 5.930.04 %11.3 %10.8 % 1.00
Industry Average14,107.73 Cr694.63111.7772.410.07%14.45%16.16%5.59

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales-0-0-0-0-0042551468111089
Expenses6200006215341689581
Operating Profit-6-2-0-0-0-0-24-2513158
OPM %-91%-45%15%-4%11%16%14%9%
Other Income1-0-11-475161341000
Interest-0-022-0-01122122
Depreciation-0-0-0-0-0-00000000
Profit before tax-5-2-12-49416-26-0511146
Tax %-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-176%
Net Profit-5-2-12-49416-26-05111417
EPS in Rs-2.06-0.78-4.73-18.751.635.27-0.701.68-0.101.112.432.963.31

Last Updated: July 11, 2024, 7:40 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: July 10, 2024, 11:23 pm

MonthSep 2013Sep 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales20711813722000080326
Expenses2561603030221220577179285
Operating Profit-49-42-16-23-202-219-57-7-1041
OPM %-24%-35%-120%-328%-1,014%68%-66,503%-26,919%0%13%
Other Income134-11-4244090-2-55242
Interest66482554-0500446
Depreciation161061299940001
Profit before tax3-101-47-44-932-224-61-8-592036
Tax %358%1%2%-1%-1%0%0%0%0%0%0%-29%
Net Profit-7-101-46-45-932-224-61-8-592047
EPS in Rs-3.96-47.90-22.10-20.62-4.4115.12-85.38-23.14-3.19-22.624.709.33
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)2.17%80.00%455.56%-800.00%72.77%86.89%-637.50%133.90%135.00%
Change in YoY Net Profit Growth (%)0.00%77.83%375.56%-1255.56%872.77%14.12%-724.39%771.40%1.10%

Growth

Compounded Sales Growth
10 Years:5%
5 Years:297%
3 Years:%
TTM:310%
Compounded Profit Growth
10 Years:9%
5 Years:17%
3 Years:110%
TTM:257%
Stock Price CAGR
10 Years:26%
5 Years:197%
3 Years:213%
1 Year:81%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:47%

Last Updated: July 17, 2024, 6:29 pm

Balance Sheet

Last Updated: July 10, 2024, 11:23 pm

MonthSep 2013Sep 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital212121212121262626264250
Reserves-50-85-140-183-194-161-107-111-120-492387
Preference Capital13131313131313131300
Borrowings270284318317293293484101115876474
Other Liabilities13819719320018110472585117110138
Total Liabilities379416393355302257476737382239349
Fixed Assets149201186170938442600025151
CWIP111111100000
Investments000000000000
Other Assets22821420618420817249737382215198
Total Assets379416393355302257476737382239349

Reserves and Borrowings Chart

Cash Flow

MonthSep 2013Sep 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity -12330-24-66-15-118-12-7-16-105113
Cash from Investing Activity 1354-0130-350-714223-127
Cash from Financing Activity -12-2524-4-4101531014-1036250
Net Cash Flow-09-0-105-51-2-022-2036

Free Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2013Sep 2014
Free Cash Flow-347.00-353.00-326.00-304.00-716.00-171.00-135.00-88.00-64.00-33.00-332.00-338.00

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

MonthSep 2013Sep 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days871471,2041,8635,8984599,36814,93038695
Inventory Days1961631,56712,708393,2292525
Days Payable802091,89414,9041,21679,06519261
Cash Conversion Cycle203101877-3334,720-75,3779,36814,93021959
Working Capital Days59-211-3,354-14,054-59,894-42,699-125,505-45,190-5018
ROCE %-20%-19%-8%-16%-3%21%-75%-27%-21%-1%1%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024May 2024
Promoters37.69%37.69%37.69%0.96%63.11%55.31%55.14%57.45%57.68%57.60%58.53%58.32%
FIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.00%
DIIs1.30%0.27%0.27%0.23%0.23%0.20%0.17%0.16%0.15%0.15%0.14%0.13%
Public61.01%62.03%62.03%98.81%36.66%44.49%44.68%42.38%42.16%42.24%41.31%41.53%
No. of Shareholders7,6637,6377,5177,4497,3057,2767,2207,7968,3298,71713,68014,990

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)10.005.86-22.98-3.59-23.54
Diluted EPS (Rs.)9.245.59-22.98-3.59-23.54
Cash EPS (Rs.)9.474.75-22.62-3.19-21.53
Book Value[Excl.RevalReserv]/Share (Rs.)27.3110.74-8.82-35.56-32.39
Book Value[Incl.RevalReserv]/Share (Rs.)27.3115.54-8.82-35.56-32.39
Revenue From Operations / Share (Rs.)64.8519.060.000.000.07
PBDIT / Share (Rs.)8.660.78-0.16-2.51-0.33
PBIT / Share (Rs.)8.510.73-0.16-2.51-1.94
PBT / Share (Rs.)7.220.76-1.50-2.51-1.95
Net Profit / Share (Rs.)9.334.70-22.62-3.19-23.14
NP After MI And SOA / Share (Rs.)9.334.70-22.62-3.19-23.14
PBDIT Margin (%)13.354.100.000.00-428.04
PBIT Margin (%)13.133.840.000.00-2453.77
PBT Margin (%)11.134.000.000.00-2461.66
Net Profit Margin (%)14.3824.650.000.00-29226.83
NP After MI And SOA Margin (%)14.3824.650.000.00-29226.83
Return on Networth / Equity (%)34.1643.730.000.000.00
Return on Capital Employeed (%)20.733.02-1.748.187.05
Return On Assets (%)13.448.21-74.22-11.52-82.78
Long Term Debt / Equity (X)0.340.79-1.530.000.00
Total Debt / Equity (X)0.511.43-3.22-1.23-0.18
Asset Turnover Ratio (%)1.110.490.000.000.00
Current Ratio (X)1.220.731.460.470.50
Quick Ratio (X)1.080.701.460.470.50
Inventory Turnover Ratio (X)14.860.000.000.000.00
Interest Coverage Ratio (X)7.300.76-0.120.00-54.26
Interest Coverage Ratio (Post Tax) (X)8.950.72-0.120.00-311.06
Enterprise Value (Cr.)782.59200.3294.80144.9832.32
EV / Net Operating Revenue (X)2.402.510.000.00155.47
EV / EBITDA (X)17.9661.20-216.94-21.97-36.32
MarketCap / Net Operating Revenue (X)2.301.740.000.0019.96
Price / BV (X)5.463.09-1.30-0.18-0.04
Price / Net Operating Revenue (X)2.301.740.000.0020.00
EarningsYield0.060.14-1.98-0.47-14.64

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 223.32

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: 37.85% compared to the current price 162

Intrinsic Value: 450.67

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: 178.19% compared to the current price 162

Last 5 Year EPS CAGR: 101.80%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -39.33, which is a positive sign.
  1. The stock has a low average ROCE of -14.00%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 89.83, which may not be favorable.
  3. The company has higher borrowings (234.67) compared to reserves (-90.83), which may suggest financial risk.
  4. The company has not shown consistent growth in sales (62.92) and profit (-38.50).

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 WS Industries (India) Ltd:
    1. Net Profit Margin: 14.38%
      • 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: 20.73% (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%: 34.16% (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): 8.95
      • 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: 1.08
      • 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: 17.1 (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: 0.51
      • 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

W S Industries (India) Ltd. is a Public Limited Listed company incorporated on 23/08/1961 and has its registered office in the State of Tamil Nadu, India. Company’s Corporate Identification Number(CIN) is L29142TN1961PLC004568 and registration number is 004568. Currently Company is involved in the business activities of Manufacture of other porcelain and ceramic products. Company’s Total Operating Revenue is Rs. 0.00 Cr. and Equity Capital is Rs. 26.26 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Electric Equipment - General108, Mount Poonamallee Road, Porur, Chennai (Madras) Tamil Nadu 600116sectl@wsinsulators.com
http://www.wsindustries.in
Management
NamePosition Held
Mr. S NagarajanExecutive Chairman
Mr. R KarthikIndependent Director
Mr. J SridharanIndependent Director
Ms. Suguna RaghavanIndependent Director
Mr. C K VenkatachalamManaging Director
Mr. S AnandavadivelJoint Managing Director
Mr. K V PrakashWhole Time Director
Ms. Revathi RaghunathanIndependent Director

FAQ

What is the latest fair value of WS Industries (India) Ltd?

The latest fair value of WS Industries (India) Ltd is ₹223.32.

What is the Market Cap of WS Industries (India) Ltd?

The Market Cap of WS Industries (India) Ltd is 814 Cr..

What is the current Stock Price of WS Industries (India) Ltd as on 21 July 2024?

The current stock price of WS Industries (India) Ltd as on 21 July 2024 is 162.

What is the High / Low of WS Industries (India) Ltd stocks in FY 2024?

In FY 2024, the High / Low of WS Industries (India) Ltd stocks is 194/93.4.

What is the Stock P/E of WS Industries (India) Ltd?

The Stock P/E of WS Industries (India) Ltd is 17.1.

What is the Book Value of WS Industries (India) Ltd?

The Book Value of WS Industries (India) Ltd is 27.3.

What is the Dividend Yield of WS Industries (India) Ltd?

The Dividend Yield of WS Industries (India) Ltd is 0.00 %.

What is the ROCE of WS Industries (India) Ltd?

The ROCE of WS Industries (India) Ltd is 25.2 %.

What is the ROE of WS Industries (India) Ltd?

The ROE of WS Industries (India) Ltd is 46.9 %.

What is the Face Value of WS Industries (India) Ltd?

The Face Value of WS Industries (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 WS Industries (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