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Last Updated on: 20 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 515147 | NSE: HALDYNGL

Haldyn Glass Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 19, 2024, 5:24 pm

Market Cap 847 Cr.
Current Price 158
High / Low189/118
Stock P/E37.1
Book Value 38.5
Dividend Yield0.44 %
ROCE12.9 %
ROE9.75 %
Face Value 1.00
PEG Ratio1.66

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Haldyn Glass Ltd

Competitors of Haldyn Glass Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Haldyn Glass Ltd 847 Cr. 158189/11837.1 38.50.44 %12.9 %9.75 % 1.00
Hindusthan National Glass & Industries Ltd 208 Cr. 23.631.5/15.81.22 86.30.00 %19.9 %% 2.00
Industry Average527.50 Cr90.8019.1662.400.22%16.40%9.75%1.50

All Competitor Stocks of Haldyn Glass Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales44.4353.4259.8955.0176.4080.7588.5773.8172.9246.4395.2284.2186.84
Expenses39.6548.4153.4955.1769.6572.8979.1467.9861.6047.7279.0470.6374.55
Operating Profit4.785.016.40-0.166.757.869.435.8311.32-1.2916.1813.5812.29
OPM %10.76%9.38%10.69%-0.29%8.84%9.73%10.65%7.90%15.52%-2.78%16.99%16.13%14.15%
Other Income0.750.921.193.933.754.501.392.113.957.860.228.973.46
Interest0.120.100.140.190.190.160.360.510.711.142.295.393.51
Depreciation1.711.682.101.711.811.871.802.062.173.356.127.156.26
Profit before tax3.704.155.351.878.5010.338.665.3712.392.087.9910.015.98
Tax %25.95%33.98%27.29%-63.10%22.47%22.27%33.83%-22.16%26.15%-38.94%27.78%32.57%14.88%
Net Profit2.162.753.863.056.598.035.736.569.152.895.776.765.10
EPS in Rs0.400.510.720.571.231.491.071.221.700.541.071.260.95

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales141172166223229178213320299313
Expenses123145160197202157196289258272
Operating Profit1827726282116314141
OPM %13%16%4%12%12%12%8%10%14%13%
Other Income2351256112121
Interest111011121112
Depreciation81111111310781923
Profit before tax1117016151414333226
Tax %38%37%355%22%32%30%18%18%24%
Net Profit711-068712272521
EPS in Rs1.242.00-0.091.031.531.392.205.014.573.82
Dividend Payout %40%28%-329%58%39%43%27%12%15%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)57.14%-100.00%33.33%-12.50%71.43%125.00%-7.41%
Change in YoY Net Profit Growth (%)0.00%-157.14%133.33%-45.83%83.93%53.57%-132.41%

Haldyn Glass Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2016-2017 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:%
5 Years:6%
3 Years:19%
TTM:32%
Compounded Profit Growth
10 Years:%
5 Years:23%
3 Years:35%
TTM:-6%
Stock Price CAGR
10 Years:19%
5 Years:39%
3 Years:62%
1 Year:5%
Return on Equity
10 Years:%
5 Years:9%
3 Years:11%
Last Year:10%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 2:35 pm

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital5555555555
Reserves115128125128133139148172194202
Borrowings18238261247123124
Other Liabilities3834333333363647127145
Total Liabilities176170166175173186202271450476
Fixed Assets8475665950454557240244
CWIP211100012393
Investments0222422181729354348
Other Assets71727493104124127156158181
Total Assets176170166175173186202271450476

Reserves and Borrowings Chart

Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +1421971622103119
Cash from Investing Activity +-49-1-5-21-1-12-58-86
Cash from Financing Activity +9-21-33-10-2-13065
Net Cash Flow-25-127620-33-2

Free Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow0.0025.004.0018.0026.0015.004.00-16.00-82.00

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 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days716276828694916878
Inventory Days2802151621108520317875238
Days Payable101447059661189896209
Cash Conversion Cycle25023316813310617917246107
Working Capital Days87909685871011035446
ROCE %14%1%13%13%10%10%18%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters56.99%57.20%57.68%57.93%57.93%57.93%58.11%58.14%58.14%58.14%58.14%58.14%
FIIs0.04%0.04%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%1.17%1.51%1.74%
Public42.97%42.76%42.32%42.07%42.07%42.08%41.90%41.86%41.87%40.69%40.36%40.12%
No. of Shareholders16,65617,66718,55917,87820,75322,88121,73820,89822,52623,18821,93821,898

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)4.575.012.201.391.53
Diluted EPS (Rs.)4.564.982.201.391.53
Cash EPS (Rs.)7.065.113.363.784.36
Book Value[Excl.RevalReserv]/Share (Rs.)37.1332.9828.5526.8025.83
Book Value[Incl.RevalReserv]/Share (Rs.)37.1332.9828.5526.8025.83
Revenue From Operations / Share (Rs.)55.5859.4639.5833.1042.67
PBDIT / Share (Rs.)10.306.443.954.655.37
PBIT / Share (Rs.)6.815.042.622.742.97
PBT / Share (Rs.)5.034.812.512.662.86
Net Profit / Share (Rs.)3.563.712.021.871.96
NP After MI And SOA / Share (Rs.)4.575.012.201.391.53
PBDIT Margin (%)18.5310.839.9914.0512.59
PBIT Margin (%)12.248.476.608.276.95
PBT Margin (%)9.058.096.348.026.71
Net Profit Margin (%)6.416.235.105.634.58
NP After MI And SOA Margin (%)8.228.425.554.213.59
Return on Networth / Equity (%)12.3015.187.705.205.94
Return on Capital Employeed (%)11.9012.998.599.6710.83
Return On Assets (%)5.469.915.854.024.76
Long Term Debt / Equity (X)0.330.140.000.000.00
Total Debt / Equity (X)0.600.240.040.020.01
Asset Turnover Ratio (%)0.821.351.050.941.26
Current Ratio (X)0.961.883.123.463.77
Quick Ratio (X)0.661.542.322.663.04
Inventory Turnover Ratio (X)2.533.612.242.463.65
Dividend Payout Ratio (NP) (%)15.3111.9827.2743.0539.10
Dividend Payout Ratio (CP) (%)8.679.3516.9518.1415.22
Earning Retention Ratio (%)84.6988.0272.7356.9560.90
Cash Earning Retention Ratio (%)91.3390.6583.0581.8684.78
Interest Coverage Ratio (X)5.8128.5638.3556.7551.77
Interest Coverage Ratio (Post Tax) (X)3.0117.4420.6123.7619.85
Enterprise Value (Cr.)902.52354.48204.61136.5083.30
EV / Net Operating Revenue (X)3.021.110.960.760.36
EV / EBITDA (X)16.3010.249.635.462.88
MarketCap / Net Operating Revenue (X)2.661.061.080.960.43
Retention Ratios (%)84.6888.0172.7256.9460.89
Price / BV (X)3.981.901.491.190.72
Price / Net Operating Revenue (X)2.661.061.080.960.43
EarningsYield0.030.070.050.040.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Haldyn Glass Ltd as of November 20, 2024 is: 139.88

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.

As of November 20, 2024, Haldyn Glass Ltd is Overvalued by 11.47% compared to the current share price 158.00

Intrinsic Value of Haldyn Glass Ltd as of November 20, 2024 is: 171.22

Calculation basis:

  • Intrinsic 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 intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 20, 2024, Haldyn Glass Ltd is Undervalued by 8.37% compared to the current share price 158.00

Last 5 Year EPS CAGR: 22.41%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (148.40 cr) compared to borrowings (34.50 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (225.40 cr) and profit (17.80 cr) over the years.
  1. The stock has a low average ROCE of 10.22%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 83.22, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 154.89, 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 Haldyn Glass Ltd:
    1. Net Profit Margin: 6.41%
      • 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: 11.9% (Industry Average ROCE: 16.4%)
      • 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%: 12.3% (Industry Average ROE: 4.88%)
      • 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): 3.01
      • 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: 0.66
      • 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: 37.1 (Industry average Stock P/E: 19.16)
      • 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: 0.6
      • 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

Haldyn Glass Ltd. is a Public Limited Listed company incorporated on 25/04/1991 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L51909GJ1991PLC015522 and registration number is 015522. Currently Company is involved in the business activities of Manufacture of hollow glassware (bottles, jars etc.) for the conveyance or packing of goods. Company’s Total Operating Revenue is Rs. 212.76 Cr. and Equity Capital is Rs. 5.38 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Glass & Glass ProductsVillage Gavasad, Taluka Padra, Vadodra District Gujarat 391430baroda@haldynglass.com
http://www.haldynglass.com
Management
NamePosition Held
Mr. Narendra ShettyExecutive Chairman
Mr. Tarun ShettyManaging Director
Mrs. Kishori UdeshiDirector
Mr. Sikandar TalwarDirector
Mr. Rohan AjilaDirector
Mr. G PadbhanabhanDirector
Mr. Ajit ShahDirector
Ms. Mona CheriyanDirector

FAQ

What is the latest intrinsic value of Haldyn Glass Ltd?

The latest intrinsic value of Haldyn Glass Ltd as on 20 November 2024 is ₹139.88, which is 11.47% lower than the current market price of ₹158.00.

What is the Market Cap of Haldyn Glass Ltd?

The Market Cap of Haldyn Glass Ltd is 847 Cr..

What is the current Stock Price of Haldyn Glass Ltd as on 20 November 2024?

The current stock price of Haldyn Glass Ltd as on 20 November 2024 is ₹158.

What is the High / Low of Haldyn Glass Ltd stocks in FY 2024?

In FY 2024, the High / Low of Haldyn Glass Ltd stocks is 189/118.

What is the Stock P/E of Haldyn Glass Ltd?

The Stock P/E of Haldyn Glass Ltd is 37.1.

What is the Book Value of Haldyn Glass Ltd?

The Book Value of Haldyn Glass Ltd is 38.5.

What is the Dividend Yield of Haldyn Glass Ltd?

The Dividend Yield of Haldyn Glass Ltd is 0.44 %.

What is the ROCE of Haldyn Glass Ltd?

The ROCE of Haldyn Glass Ltd is 12.9 %.

What is the ROE of Haldyn Glass Ltd?

The ROE of Haldyn Glass Ltd is 9.75 %.

What is the Face Value of Haldyn Glass Ltd?

The Face Value of Haldyn Glass Ltd is 1.00.

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 Haldyn Glass 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