Kalyani Steels Ltd
Iron & steel
FV – Rs 5; 52wks H/L –205/107.4; TTQ – 12 K; CMP – Rs 183.5(As On July 8th 2016; 12:00) ;
Market Cap – Rs 801.03 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 |
| 21.86 | 589 | 110 | 1179 | 113.46 | 134 | 25.95 | 7.1 | 23.86 | 1.37 | 60.6 | 2.17 |
Standalone Financials and Valuations for Q4 FY16
Equity Capital |
Net worth |
Long Term Debt | Total Sales |
PAT | BV (Rs) |
TTM EPS (Rs) |
TTM P/E |
Industry P/E |
P/BV |
| 21.86 | 589 | 110 | 301 | 29.1 | 134 | 6.67 | 27.5 | 23.86 | 1.37 |
Valuation Parameters:
- Long Term Debt to Equity – 0.19
- ROE % – 19.26
- Market Cap/Sales – 0.68
Overview:
- Kalyani Steels Ltd is a supplier of forging quality steel for a range of automotive applications, such as crankshaft, camshaft, connecting rods, gears, transmission shafts, axle beams and steering knuckles.
- The Company’s steel is used in commercial vehicles, passenger cars, as well as construction equipment.
- The Company also manufactures rounds for seamless tubes and supplies steel to all seamless tube producers.
- The Company offers a range of carbon alloy steel and low electricity resistivity (LER) steel.
- The Company also supplies high quality medium carbon, high carbon, medium alloy and micro-alloyed steels for a range of applications in energy, railways, defense, fasteners and material handling, among others.
- The Company manages and operates the composite Steel manufacturing facility at Ginigera.
HOSPET STEELS is a World Class Steel plant set up by way of strategic alliance between M/s Mukand limited of Mumbai and M/s Kalyani Steels Limited of Pune.
The Company has increased its Equity stake in Lord Ganesha Minerals Private Limited (LGMPL) from existing 50% to 77.50% and as a result LGMPL has become a ‘Subsidiary’ of the Company.
Kalyani Steels look at price cuts after China’s yuan devaluation
(http://in.reuters.com/article/india-steel-idINKCN0QI0XQ20150813?type=companyNew)
Raw material cost to be higher in Q1 FY17
China dumping is hurting domestic industry badly, said RK Goyal, MD, Kalyani Steel, adding that cutting prices further would lead to additional losses.
Management:
- Mr. R. K. Goyal – CMD
- Mr. B.M. Maheshwari – CFO
Major Non-Promoter Holdings:
| Sr.No | Non – Promoters | No. of Shares held | % of shares held |
| 1 | Sadguru Investment & Trading Company | 1601428 | 3.67 |
| 2 | Gloxinia Investment & Finance Pvt Ltd | 500000 | 1.15 |
| 3 | Reliance Capital Trustee Co. Ltd | 545000 | 1.25 |
| Total | 2646428 | 6.06 |
Consolidated Financial Trends (In Rs.Crs) :
| Particulars |
FY16 |
FY15 | FY14 | FY13 | FY12 | FY11 |
| Equity Paid Up | 21.86 | 21.86 | 21.86 | 21.86 | 21.86 | 21.86 |
| Networth | 589 | 476 | 398 | 355 | 338 | 321 |
| Total Debt | 262 | 182 | 185 | 200 | 193 | 205 |
| Net Sales | 1179 | 1229 | 1128 | 816 | 1012 | 1253 |
| Other Income | 1.3 | 2.7 | 11.7 | 7 | 22 | 16 |
| PAT | 113.46 | 83.3 | 58.6 | 23.9 | 22 | 52 |
| Book Value (Rs) | 134 | 109 | 91 | 81 | 77 | 73 |
| EPS (Rs) | 25.95 | 19.1 | 13.4 | 5.5 | 5.0 | 11.9 |
