Associated Stones Industries (KOTAH) Ltd
Mining
FV – Rs 1; 52wks H/L –47.70/10.88; TTQ – 6 Lacs; CMP – Rs 48 (As On February 22, 2017);
Market Cap – Rs 399 Crs
Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)
Equity Capital |
Net worth |
Long Term Debt | Total Sales |
PAT | BV (Rs) |
EPS (Rs) |
P/E |
Industry P/E |
P/BV |
Promoter’s Stake |
Beta |
| 6.63 | 192 | 128 | 202 | 7.76 | 29 | 1.17 | 41 | 13.19 | 1.7 | 70.4 | – |
Consolidated Financials and Valuations for H1 FY17
Equity Capital |
Net worth |
Long Term Debt | Total Sales |
PAT | BV (Rs) |
EPS (Rs) |
P/E |
Industry P/E |
P/BV |
Promoter’s Stake |
Beta |
| 6.63 | 212 | 22 | 212 | 10.29 | 32 | 2 | 24 | 13.19 | 70.4 | – |
*On 26/11/2015 there was a stock split from Rs.5 to Rs.1
*On 29/9/2016 there was a bonus issue of 1:4 equity shares of Rs.1 each
Valuation Parameters:
- Long Term Debt to Equity – 0.7
- ROE % – 4
- Market Cap/Sales – 2
Overview:
- Associated Stone Industries is the world’s largest stone mining companyand the only listed one in India. The end user of the industry is the Real estate, construction and Infrastructure.
- Established in 1945, during the time of the British Raj, Associated Stone Industries has a long and distinguished history of providing its customers with beautiful, sophisticated and exotic products.
- ASI still holds the largest quarries in the world spread across 10 sq kms at Ramganjmandi, situated in Rajasthan, the home of the most flawless Kotah Stone.
- Powered by a work force of 5000 dedicated, passionate and driven employees, ASI produces a staggering 15 Crore Sq.ft of Kota Stone each year.
- Unwilling to compromise on quality, ASI has equipped themselves with the best diamond tool units for cutting, sawing & shaping various natural stones, and produces some of the finest natural stones, all at par with global standards.
- The Company has sold Wind Power Unit of 1.125 MW at Tirupur District of Tamil Nadu in November, 2015.
The Company has acquired a foreign subsidiary in UAE, Al Rawasi Rock and Aggregates LLC, through its wholly owned subsidiary viz. ASI Global Ltd., Mauritius to tap the opportunity of huge volume of industrial, infrastructure, reclamation and other construction work currently underway in the Arabian Gulf region. The estimated reserve of quarry of this Company is around 200 million tones which is sufficient for about 45 years of its operations.
Management:
- Deeapk Jatia – CMD
- Pavan Soni – CFO
The Equity Capital is @ Rs 6.63 Crs consisting of 66283760 equity Shares of FV Rs 1 currently held as under
57.95% Of the Promoter’s Holding is pledged.
Major Non – Promoter Holdings:
| Non – Promoters | No. of shares held | % of shares held |
| Subramanian P | 859500 | 1.04 |
| Satjit Singh | 858075 | 1.04 |
| Mita Dipak Shah | 862500 | 1.04 |
| Halan Properties Private Ltd | 3812500 | 4.6 |
Consolidated Financial Trends (In Rs. Crs) :
| Particulars | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
| Equity Paid Up | 6.63 | 6.63 | 6.63 | 6.63 | 6.63 | 6.63 |
| Networth | 192 | 187 | 176 | 169 | 158 | 150 |
| Total Debt | 160 | 94 | 38 | 53 | 55 | 59 |
| Net Sales | 202 | 213 | 133 | 177 | 171 | 174 |
| Other Income | 5 | 4 | 3 | 2 | 1 | 2 |
| PAT | 7.76 | 14.45 | 10.07 | 13.01 | 9.43 | 11.67 |
| Book Value (Rs) | 29 | 28 | 27 | 25 | 24 | 23 |
| EPS (Rs) | 1.17 | 2.18 | 1.52 | 1.96 | 1.42 | 1.76 |
For the year under review, the production of Kotah Stone was 1207.40 Lacs sq. ft. as against 1172.77 Lacs sq. ft.
