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×

anugraha valve castings Limited

410.00
-3.07 %
Scrip Name
ANUGRAHA
ISIN No.
INE629Z01015
PAN No.
AACCA2285Q
Face Value
10
No. of Outstanding Shares
3,526,504
Market Capitalization
144.59 Crore

ANUGRAHA VALVE CASTINGS LIMITED UNLISTED SHARE


ABOUT ANUGRAHA VALVE CASTINGS LIMITED


ANUGRAHA VALVE CASTINGS LIMITED is one of the leading manufacturers and exporters of Stainless Steel and Alloy Steel Castings in India. The company’s customer base represents various industries including Petroleum, Engineering, Refinery, Oil, Gas & Chemical.


Anugraha Valve Castings Limited has a wide-ranging product portfolio which comprises Gate Valve, Swing Check Valve, Globe Valve, Control Valve, Strainer Valve, Knife Gate Valve, Ball Valve, Safety Relief Valve, Butterfly Valve, Flame Arrester Valve, and Plug Valve. The company mainly focuses on manufacturing Industrial Valve Castings of sizes ranging from 0.5 inches to 32 inches. In addition, the company’s product range is not limited to Stainless Steel, the company also produces products of Carbon, Low Alloy Steel, High Alloy Steel, Nickel-based Alloy, Duplex, and Super Duplex Steel.


The company has four manufacturing units and one modern machine shop, all are situated in Coimbatore. Apart from this, it owns 6 wind turbine generators with a capacity of 6,850 MVA and a solar plant with a capacity of 500 KW.


The company exports over 600 Metric Tons of its products every year in raw or fully machined conditions. It exports over US$ 36 million of steel castings per annum.


INCORPORATION DETAILS


CIN

U27109TZ1992PLC003873

Registration Date

27 August 1992

Category/Sub-category of the Company

A company having a share capital

Address of the Registered office and contact details

S.F.No.391/2, Sengoda Gounden Pudur, Arasur Village, Coimbatore - 641 407

Ph.no. 0422-2360124;

Email: anugraha@anugrahavalvecastings.com

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

M/s. S.K.D.C. Consultants Limited,

PB No.2016, ''Kanapathy Towers'', 3rd Floor,

1391/a1, Sathy Road, Ganapathy Post,

Coimbatore Tamilnadu - 641 006,

Phone: +91 422 4958995, 2539835

 

PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to the total turnover of the Company

Industrial Valve Castings (Iron and Steel in Primary Forms n.e.c.)

3309

98.23%


BOARD OF DIRECTORS

Shri R. Baskaran (Chairman & Managing Director)

Shri B. Anandkumar (Joint Managing Director)

Shri R.P. Joshua (Independent Director)

Shri S. Ponraj (Independent Director)

Shri Ramnath Dureja (Non-Executive Director)

Shri Ajay J Shah (Non-Executive Director)

 

PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

ANUGRAHA VALVE CASTINGS LIMITED does not have any subsidiary or associate company.





SHAREHOLDING PATTERN

(As of 31-03-2021)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1

Baskaran R

8,34,231

23.66%

2

Grahalakshmi B

7,00,490

19.86%

3

Anand Kumar B

6,63,862

18.82%

4

Kvitha. A

6,18,357

17.53%

5

Nikita .A

2,09,761

5.95%

6

Public Shareholding

4,99,803

14.17%

 

Total

35,26,504

100.00%


INDUSTRY OUTLOOK

 

India became the world’s second-largest steel producer in 2019 with crude steel production of 111.2 Million Tonnes (MT). India overtook Japan to become the world’s second-largest steel producer in  2019. In FY 2020, the production of crude steel in India was 108.5 MT, and finished steel production was 101.03 MT. India’s cumulative production of crude steel and finished steel from April 2020 to January 2021 was 87.21 MT, and 76.04 MT respectively. Export of finished steel stood at 8.42 MT and import at 6.69 MT in FY 2020. From April 2020 to January 2021, the Export and import of finished steel stood at 8.84 MT and 3.79 MT, respectively.


The steel industry suffered a  setback due to the  COVID19  pandemic outbreak and the consequent lockdowns. The industry’s key customer sectors like automobiles, construction, and oil  &  gas drillers struggled hard to survive due to prolonged shutdowns,  disrupted supply chains,  collapsing confidence, and delayed investment and construction projects, as well as a decline in consumption activity across the globe.


The government of India has taken various steps to boost the sector, this includes the introduction of National Steel Policy 2017 and has allowed 100% Foreign Direct  Investment (FDI) in the steel industry under the automatic route. Moreover, the Directorate General of Foreign Trade (DGFT), in October 2020, announced that steel manufacturers in India can avail of duty drawback benefits on steel supplied through their distributors, service centers, dealers, and stockyards. The Central Government of India has also introduced Steel Scrap Recycling Policy, which is mainly aimed to reduce imports.


However, Some recent policy decisions of the Indian government can negatively impact small and mid-sized steel producers. The Ministry of Urban Development has announced that Central Public Works Department (CPWD) will be buying rebars from the sponge EAF units with a minimum EAF size of 100 tonnes. This means, only EAS-based plants with a capacity of 100 Tonnes or more will be able to participate in the purchase program of CPWD, and the remaining steel producers, will not be able to participate.


KEY FINANCIALS OF ANUGRAHA VALVE CASTINGS LIMITED(In Rs. Lakhs)

                                             

STATEMENT OF PROFIT AND LOSS (in Rs. Lakhs)




2021

2020

2019

2018


Revenue from Operations

21518

24344.7

22673.74

19106.99


Other Income

112.84

912.08

610.97

611.46


Total Revenue

21630.84

25256.78

23284.71

19718.45


 change %

-14.36%

8.47%

18.09%



EBIT

1838.81

1804.88

1106.02

1089.67


EBITDA

2771.81

2697.94

1851.99

1816.5


Change %

2.74%

45.68%

1.95%



EBITDA Margin

12.81%

10.68%

7.95%

9.21%


DEP

933

893.06

745.97

726.83


FINANCE COST

57.23

532

50.02

10.36


PBT

1781.58

1272.88

1056

1079.31


Tax Expense I Current Taxes

321.15

95.55

-217.29

187


Deferred taxes

64.71

34.02

-51.39

-10.8


Total  Tax Expense

385.86

129.57

-268.68

176.2


PAT

1395.72

1143.31

1324.68

903.11


Share of profits of associate

NA

NA

NA

NA


Total Profit for the period

1395.72

1143.31

1324.68

903.11


Profit Margin

6.45%

4.53%

5.69%

4.58%


No of Shares

3526504

3526504

3526504

3526504


EPS( in Rs.)

39.58

32.42

37.56

25.61



 

DIVIDEND POLICY


Particulars

2021

2020

2019

2018

EPS( in Rs.)

39.58

32.42

37.56

25.61

Dividend ( in Rs.)

2

2

2

NA

Payout ratio

5.1%

6.2%

5.3%

NA

 

BALANCE SHEET OF ANUGRAHA VALVE CASTINGS LIMITED (In Rs. Lakhs)


BALANCE SHEET AS AT 31st MARCH 2021

Particulars

2021

2020

ASSETS



NON CURRENT ASSETS



Tangible assets

13560.91

13957.66

Intangible assets

0

0

Capital work-in-progress

68.36

96.08

Intangible Asset under Development

0

0

Non Current Investments

0

0

Long term Loans and Advances

836.76

932.3

TOTAL NON CURRENT ASSETS

14466.03

14986.04

CURRENT ASSETS



Inventories

3628.54

3870

Investments

0

0

Trade receivables

5956.6

5692.56

Cash and cash equivalent

759.26

594.6

Short-term loans and advances


1.14

Other current assets

1805.12

1991.22

TOTAL CURRENT ASSETS

12149.52

12149.52

TOTAL ASSETS

26642.55

27135.56

EQUITY AND LIABILITIES



EQUITY



Equity Share Capital

352.65

352.65

Reserves and Surplus

20214.52

18818.8

TOTAL EQUITY

20567.17

19171.45

LIABILITIES



NON CURRENT LIABILITIES



Long term borrowings

0

1021.24

Deferred Tax Liablities

1099.02

1034.31

TOTAL NON CURRENT LIABILITIES

1099.02

2055.55

CURRENT LIABILITIES



Borrowings

2504.55

3472.86

Trade payables

899.53

1169.02

Other current liabilities

284.24

737.33

Short term provisions

1334.04

529.35

TOTAL CURRENT LIABILITIES

5022.36

5908.56

TOTAL LIABILITIES

6121.38

7964.11

TOTAL EQUITY AND LIABILITIES

26642.55

27135.56

 

RATIO ANALYSIS



Particulars

2021

2020

ROE

6.79%

5.96%

Capital Employed (In Rs.)

21620.19

21227

ROCE

8.51%

8.50%

ROA

5.24%

4.21%

Debt to Equity

0.30

0.42

Current Ratio

2.42

2.06

Dividend Yield Ratio

0.7%

NA

EPS

39.58

32.42

Book Value Per Share  (In Rs.)

583.22

543.64

P/B Multiple

0.51

NA

P/E Multiple

7.58

NA

 

PERFORMANCE OF THE COMPANY

Revenue from Operations of the company has reduced by 14.46% from Rs.25256.78 lakhs in FY 2020 to Rs. 21630.84 lakhs in FY 2021.

Revenue from core operation has reduced by 11% from Rs.22630.4 lakhs in FY 2020 to Rs. 20111.01 lakhs in FY 2021.


EBITDA of the company has increased by 2.74% from Rs. 2697.94 lakhs in FY 2020 to Rs.2771.81lakhs in FY 2021. EBITDA margins have grown from 10.68% in FY 2020 to 12.81% in FY 2021. It clearly states that the company’s efficiency has been improved.


Profit after Tax of the company has increased from Rs. 1,143.3168 lakhs in FY 2020 to Rs. 1,395.72 lakhs in FY 2021. The increase in profit was mainly due to a heavy decrease in finance costs in FY 2021.


The Term Loan has been paid in full in the year 2021 and the same has led to a decrease in finance costs.


The Current Ratio of the company as of 31st March 2021 was 2.42. The company is maintaining its working capital effectively.


Debt to Equity ratio of the company as of 31st March 2021was 0.30.


There has been an improvement in ROE and ROCE both standing at 6.79% and 8.51% respectively.


Anugraha Valve Castings Limited has given a total (interim+final) divided of Rs. 2 per equity share for the FY 2021.



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