Dalmia Refractories Ltd.

•

₹ 1120.22%

2015-01-29

dalmiarefractories.comBSE: -NSE: DALMIAREF

Market Cap₹ 35 Cr.

Current Price₹ 112

High / Low₹ 117 / 112

Stock P/E5.2

Book Value₹ 775

Price to Book0.15

Dividend Yield0.89 %

ROCE5.9 %

ROE3.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.68x)

CONS

Receivables are growing faster than sales - a possible quality concern
Company has a low return on capital employed of 6.3%
Company has a low return on equity of 4.8% over last 3 years
Debtor days have increased from 54 to 75
Though reporting repeated profits, the company pays out little dividend (4.6%)
Company's return on assets is weak at 1.3%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Capital GoodsCapital GoodsRefractories

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	VESUVIUS	433.00	0.00	8788.20	0.35	58.51	-7.13	536.17	2.41	23.15	16.16
2.	RHIM	375.00	0.00	7743.80	0.67	64.61	83.19	1013.97	5.59	7.24	13.58
3.	RPEL	1636.15	119.84	7513.52	0.06	19.57	67.60	86.91	48.72	31.26	29.62
4.	IFGLEXPOR	221.05	38.91	1593.30	0.97	170.60	1478.17	5123.70	1028.54	4.62	7.22
5.	ORIENTCER	42.84	19.62	512.53	0.82	8.57	99.19	100.65	2.23	6.18	16.11
6.	DALMIAREF	112.50	5.17	35.46	0.89	—	—	—	—	5.89	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021
	241	450	395
	226	404	361
Operating Profit	20	50	37
OPM %	8	11	9
Other Income	5	3	3
Interest	3	8	9
Depreciation	11	18	16
	6	23	11
Tax %	33	31	41
Net Profit	4	16	7
EPS	18	56	22
Dividend Payout %	6	3	5
Minority Interest	2	2	0
Share of Associates	0	0	0
Adjusted EPS	18	56	22
Minority Interest	2	2	0
Share of Associates	0	0	0
Adjusted EPS	18	56	22

Mar 2019

: 241
: 226
Operating Profit: 20
OPM %: 8
Other Income: 5
Interest: 3
Depreciation: 11
: 6
Tax %: 33
Net Profit: 4
EPS: 18
Dividend Payout %: 6
Minority Interest: 2
Share of Associates: 0
Adjusted EPS: 18
Minority Interest: 2
Share of Associates: 0
Adjusted EPS: 18

Mar 2020

: 450
: 404
Operating Profit: 50
OPM %: 11
Other Income: 3
Interest: 8
Depreciation: 18
: 23
Tax %: 31
Net Profit: 16
EPS: 56
Dividend Payout %: 3
Minority Interest: 2
Share of Associates: 0
Adjusted EPS: 56
Minority Interest: 2
Share of Associates: 0
Adjusted EPS: 56

Mar 2021

: 395
: 361
Operating Profit: 37
OPM %: 9
Other Income: 3
Interest: 9
Depreciation: 16
: 11
Tax %: 41
Net Profit: 7
EPS: 22
Dividend Payout %: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 22
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 22

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 74%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 5%
Last Year:: 3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021
LIABILITIES	-	-	-
Equity Capital	3	3	3
	186	161	241
	38	48	39
Trade Payables	63	71	111
	192	154	159
Total Liabilities	483	437	554
ASSETS	-	-	-
	208	216	206
Capital Work in Progress	17	1	2
	69	34	111
	75	84	85
	61	72	92
Cash & Bank	33	11	37
	20	19	22
Total Assets	483	437	554
Total Debt	138	150	139
Net Working Capital	21	33	47
Contingent Liabilities	8	99	97
Book Value per Share	599.77	521.44	775.28
Face Value	10.00	10.00	10.00
Total Debt	138	150	139
Net Working Capital	21	33	47
Contingent Liabilities	8	99	97
Book Value per Share	599.77	521.44	775.28
Face Value	10.00	10.00	10.00

Mar 2019

Equity Capital: 3
: 186
: 38
Trade Payables: 63
: 192
Total Liabilities: 483
: 208
Capital Work in Progress: 17
: 69
: 75
: 61
Cash & Bank: 33
: 20
Total Assets: 483
Total Debt: 138
Net Working Capital: 21
Contingent Liabilities: 8
Book Value per Share: 599.77
Face Value: 10.00
Total Debt: 138
Net Working Capital: 21
Contingent Liabilities: 8
Book Value per Share: 599.77
Face Value: 10.00

Mar 2020

Equity Capital: 3
: 161
: 48
Trade Payables: 71
: 154
Total Liabilities: 437
: 216
Capital Work in Progress: 1
: 34
: 84
: 72
Cash & Bank: 11
: 19
Total Assets: 437
Total Debt: 150
Net Working Capital: 33
Contingent Liabilities: 99
Book Value per Share: 521.44
Face Value: 10.00
Total Debt: 150
Net Working Capital: 33
Contingent Liabilities: 99
Book Value per Share: 521.44
Face Value: 10.00

Mar 2021

Equity Capital: 3
: 241
: 39
Trade Payables: 111
: 159
Total Liabilities: 554
: 206
Capital Work in Progress: 2
: 111
: 85
: 92
Cash & Bank: 37
: 22
Total Assets: 554
Total Debt: 139
Net Working Capital: 47
Contingent Liabilities: 97
Book Value per Share: 775.28
Face Value: 10.00
Total Debt: 139
Net Working Capital: 47
Contingent Liabilities: 97
Book Value per Share: 775.28
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021
	16	2	53
Cash from Investing	-97	-26	-9
Cash from Financing	110	2	-19
	30	-22	25
Free Cash Flow	16	-8	46
OCF / Net Profit	4.17	0.15	7.93
Cumulative 5-Year FCF	0	0	0
OCF / Net Profit	4.17	0.15	7.93
Cumulative 5-Year FCF	0	0	0

Mar 2019

: 16
Cash from Investing: -97
Cash from Financing: 110
: 30
Free Cash Flow: 16
OCF / Net Profit: 4.17
Cumulative 5-Year FCF: 0
OCF / Net Profit: 4.17
Cumulative 5-Year FCF: 0

Mar 2020

: 2
Cash from Investing: -26
Cash from Financing: 2
: -22
Free Cash Flow: -8
OCF / Net Profit: 0.15
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.15
Cumulative 5-Year FCF: 0

Mar 2021

: 53
Cash from Investing: -9
Cash from Financing: -19
: 25
Free Cash Flow: 46
OCF / Net Profit: 7.93
Cumulative 5-Year FCF: 0
OCF / Net Profit: 7.93
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021
PER SHARE	-	-	-
EPS (₹)	17.91	56.48	21.77
Book Value (₹)	599.77	521.44	775.28
Dividend per Share (₹)	1.00	1.50	1.00
Cash EPS (₹)	46.71	107.60	71.62
PROFITABILITY	-	-	-
Operating Margin %	6.29%	10.29%	8.60%
Net Margin %	1.64%	3.58%	1.69%
ROE %	1.97%	9.13%	3.25%
ROCE %	3.19%	9.92%	5.89%
	1.01%	3.51%	1.34%
EFFICIENCY	-	-	-
Debtor Days	64	54	75
Inventory Days	96	64	78
Payable Days	124	92	134
	36	26	19
FINANCIAL HEALTH	-	-	-
Debt to Equity (x)	0.73x	0.91x	0.57x
Interest Coverage (x)	2.87x	3.79x	2.22x
	1.13x	1.22x	1.25x
GROWTH	-	-	-
Revenue Growth %	35.25%	86.44%	-12.31%
Operating Profit Growth %	2240.95%	151.10%	-26.41%
Net Profit Growth %	161.89%	308.78%	-58.77%
	194.09%	215.35%	-61.46%
VALUATION	-	-	-
P/E (x)	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x
Dividend Yield %	0.00%	0.00%	0.00%
	5.50x	2.85x	2.90x

Mar 2019

EPS (₹): 17.91
Book Value (₹): 599.77
Dividend per Share (₹): 1.00
Cash EPS (₹): 46.71
Operating Margin %: 6.29%
Net Margin %: 1.64%
ROE %: 1.97%
ROCE %: 3.19%
: 1.01%
Debtor Days: 64
Inventory Days: 96
Payable Days: 124
: 36
Debt to Equity (x): 0.73x
Interest Coverage (x): 2.87x
: 1.13x
Revenue Growth %: 35.25%
Operating Profit Growth %: 2240.95%
Net Profit Growth %: 161.89%
: 194.09%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 5.50x

Mar 2020

EPS (₹): 56.48
Book Value (₹): 521.44
Dividend per Share (₹): 1.50
Cash EPS (₹): 107.60
Operating Margin %: 10.29%
Net Margin %: 3.58%
ROE %: 9.13%
ROCE %: 9.92%
: 3.51%
Debtor Days: 54
Inventory Days: 64
Payable Days: 92
: 26
Debt to Equity (x): 0.91x
Interest Coverage (x): 3.79x
: 1.22x
Revenue Growth %: 86.44%
Operating Profit Growth %: 151.10%
Net Profit Growth %: 308.78%
: 215.35%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 2.85x

Mar 2021

EPS (₹): 21.77
Book Value (₹): 775.28
Dividend per Share (₹): 1.00
Cash EPS (₹): 71.62
Operating Margin %: 8.60%
Net Margin %: 1.69%
ROE %: 3.25%
ROCE %: 5.89%
: 1.34%
Debtor Days: 75
Inventory Days: 78
Payable Days: 134
: 19
Debt to Equity (x): 0.57x
Interest Coverage (x): 2.22x
: 1.25x
Revenue Growth %: -12.31%
Operating Profit Growth %: -26.41%
Net Profit Growth %: -58.77%
: -61.46%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 2.90x

Shareholding Pattern

Numbers in percentages

TRADES

	Dec 2012	Mar 2013	Jun 2013	Sep 2013	Dec 2013	Mar 2014	Jun 2014	Sep 2014
	64.83	64.83	64.83	64.83	64.83	64.83	64.83	64.83
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public	35.13	35.13	35.13	35.13	35.13	35.13	35.13	35.13

Dec 2012

: 64.83
FIIs: 0.00
: 0.04
Government: 0.00
Public: 35.13

Mar 2013

: 64.83
FIIs: 0.00
: 0.04
Government: 0.00
Public: 35.13

Jun 2013

: 64.83
FIIs: 0.00
: 0.04
Government: 0.00
Public: 35.13

Sep 2013

: 64.83
FIIs: 0.00
: 0.04
Government: 0.00
Public: 35.13

Dec 2013

: 64.83
FIIs: 0.00
: 0.04
Government: 0.00
Public: 35.13

Mar 2014

: 64.83
FIIs: 0.00
: 0.04
Government: 0.00
Public: 35.13

Jun 2014

: 64.83
FIIs: 0.00
: 0.04
Government: 0.00
Public: 35.13

Sep 2014

: 64.83
FIIs: 0.00
: 0.04
Government: 0.00
Public: 35.13

Documents

Announcements

Nothing filed yet.

Annual Reports

Nothing filed yet.

Credit Ratings

Nothing filed yet.

Concalls

Nothing filed yet.