SAGAR CEMENTS LTD
Q2 FY 21 RESULTS REVIEW
DT 02 11 20
COMPANY OVERVIEW
Sagar Cements Ltd is one of the most modern mini cement plants in the state of Andhra Pradesh. The Product range of the company includes: Cements of OPC: 53 grade, OPC: 43 grade, SRC, IRS T-40 Super grade, Portland Pozzolona Cement and Portland Slag Cement
Management
K Thanu Pillai Chairman & Ind.Director
S Anand Reddy Managing Director
S Sreekanth Reddy Joint Managing Director
QUARTERLY RESULTS
|
Sagar Cements (in Rs. Cr.) |
Sep '20 |
Jun '20 |
Sep '19 |
YOY |
QOQ |
|
Net Sales |
242 |
195 |
192 |
26.01 |
24.25 |
|
Raw Materials |
34.59 |
24.38 |
40.14 |
-13.83 |
41.88 |
|
Traded Goods |
7.74 |
4.99 |
18.04 |
-57.1 |
55.11 |
|
Increase/Decrease in Stocks |
-3.96 |
8.02 |
-22.87 |
-82.68 |
-149.38 |
|
Power & Fuel |
40.65 |
31.55 |
60.62 |
-32.94 |
28.84 |
|
Employees Cost |
18.18 |
12.4 |
12.98 |
40.06 |
46.61 |
|
depreciation |
14.09 |
13.9 |
13.43 |
4.91 |
1.37 |
|
Other Expenses |
64.71 |
46.34 |
56.67 |
14.19 |
39.64 |
|
P/L Before Other Inc. , Int., Excpt. Items & Tax |
66.11 |
53.27 |
13.12 |
403.89 |
24.1 |
|
Other Income |
6.02 |
4.28 |
3 |
100.67 |
40.65 |
|
P/L Before Int., Excpt. Items & Tax |
72.13 |
57.55 |
16.12 |
347.46 |
25.33 |
|
Interest |
6.05 |
6.82 |
8.98 |
-32.63 |
-11.29 |
|
P/L Before Tax |
66.08 |
50.73 |
7.14 |
825.49 |
30.26 |
|
Tax |
22.06 |
16.74 |
1.02 |
2062.75 |
31.78 |
|
Net Profit |
44 |
34 |
6 |
619.28 |
29.51 |
|
Equity Share Capital |
23.5 |
22.28 |
21.95 |
7.06 |
5.48 |
|
Basic EPS |
18.94 |
15.26 |
2.84 |
566.9 |
24.12 |
|
MP |
733 |
||||
|
PE |
9.19007 |
||||
|
VOLUMES |
33704 |
||||
|
52 Wk L/H |
246 |
828.95 |
Market Depth
BUY 3491.00
SELL 1713.00
MONTHLY
TECHNICAL RATING
Bullish
|
Annual |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Sales |
1,175 |
1,217 |
1,038 |
813 |
753 |
|
Other Income |
4 |
2 |
7 |
3 |
4 |
|
Total Income |
1,179 |
1,220 |
1,045 |
817 |
757 |
|
Total Expenditure |
1,068 |
1,133 |
940 |
751 |
665 |
|
EBIT |
110 |
86 |
104 |
66 |
92 |
|
Interest |
60 |
63 |
59 |
62 |
41 |
|
Tax |
23 |
9 |
19 |
8 |
6 |
|
Net Profit |
26 |
13 |
26 |
-3 |
44 |
|
CASH FLOWS |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Operating Activities |
202 |
133 |
149 |
100 |
128 |
|
Investing Activities |
-226 |
-186 |
-194 |
-150 |
-110 |
|
Financing Activities |
9 |
30 |
-76 |
208 |
-235 |
|
Others |
0 |
0 |
0 |
0 |
0 |
|
Net Cash Flow |
-15 |
-23 |
-120 |
158 |
-217 |
|
Per Share Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Basic EPS (Rs.) |
12.36 |
6.66 |
12.87 |
-2.19 |
25.46 |
|
Diluted Eps (Rs.) |
12.36 |
6.66 |
12.87 |
-2.19 |
25.46 |
|
Book Value [Excl. Reval Reserve]/Share (Rs.) |
458.07 |
413.64 |
381.96 |
374 |
315.74 |
|
Dividend/Share (Rs.) |
2.5 |
2.5 |
4 |
1.5 |
5 |
|
Face Value |
10 |
10 |
10 |
10 |
10 |
|
Margin Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Gross Profit Margin (%) |
16.12 |
12.5 |
15.27 |
13.99 |
16.88 |
|
Operating Margin (%) |
9.41 |
7.11 |
10.11 |
8.14 |
12.27 |
|
Net Profit Margin (%) |
2.25 |
1.11 |
2.52 |
-0.48 |
5.87 |
|
Return Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Return on Networth / Equity (%) |
2.76 |
1.61 |
3.37 |
-0.51 |
8.06 |
|
ROCE (%) |
7.7 |
6.89 |
8.7 |
5.55 |
9.84 |
|
Return On Assets (%) |
1.37 |
0.77 |
1.67 |
-0.25 |
3.49 |
|
Leverage Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Debt to Equity (x) |
0.44 |
0.53 |
0.57 |
0.58 |
0.7 |
|
Interest Coverage Ratios (%) |
1.81 |
1.37 |
1.77 |
1.07 |
2.21 |
|
Growth Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
3 Yr CAGR Sales (%) |
13.03 |
17.35 |
29.24 |
38.47 |
43.73 |
|
3 Yr CAGR Net Profit (%) |
89.15 |
-32.54 |
9.05 |
-41.4 |
10.13 |
|
HISTORICAL PRICES |
THEN PRICE |
CUR MP |
DIFF% |
|
3Y BEF |
856.05 |
759 |
-11.34 |
|
2Y BEF |
602.65 |
759 |
25.94 |
|
1Y BEF |
600.8 |
759 |
26.33 |
|
3M BEF |
492.85 |
759 |
54 |
|
Type |
Dividend% |
Ex-Dividend date |
|
Interim |
20 |
Nov 03, 2020 |
|
Final |
25 |
Sep 01, 2020 |
|
Final |
25 |
Jul 16, 2019 |
|
Final |
15 |
Sep 18, 2018 |
|
Interim |
25 |
Nov 07, 2017 |
|
Share Holding Pattern in (%) |
||||
|
Standalone |
Sep-20 |
Jun-20 |
Mar-20 |
Dec-19 |
|
Promoters |
50.16 |
50.9 |
50.79 |
50.06 |
|
Pledged |
0 |
6.66 |
6.68 |
6.87 |
|
FII/FPI |
2.73 |
2.88 |
3.04 |
3.05 |
|
Total DII |
40.23 |
38.73 |
39.05 |
39.6 |
|
Fin.Insts |
0.02 |
0.03 |
0.02 |
0.02 |
|
Insurance Co |
1.43 |
1.51 |
1.51 |
1.53 |
|
MF |
10.92 |
11.17 |
11.17 |
11.31 |
|
Others DIIs |
27.86 |
26.02 |
26.35 |
26.74 |
|
Others |
6.88 |
7.49 |
7.12 |
7.28 |
|
Total |
100 |
100 |
100 |
99.99 |
STRENGTHS
Company with high TTM EPS Growth
Strong QoQ EPS Growth in recent results
Good quarterly growth in the recent results
Growth in Net Profit with increasing Profit Margin (QoQ)
Growth in Quarterly Net Profit with increasing Profit Margin (YoY)
Company with Low Debt
Increasing profits every quarter for the past 3 quarters
Company able to generate Net Cash - Improving Net Cash Flow for last 2 years
Book Value per share Improving for last 2 years
Company with Zero Promoter Pledge
Company with decreasing Promoter pledge
Recent Results : Growth in Operating Profit with increase in operating margins (YoY)
Stock gained more than 20% in one month
Companies with rising net profit margins - quarterly as well as TTM basis
Strong Momentum: Price above short, medium and long term moving averages
WEAKNESSES
MFs decreased their shareholding last quarter
Promoter decreasing their shareholding
OPPORTUNITIES
Brokers upgraded recommendation or target price in the past three months
Highest Recovery from 52 Week Low
RSI indicating price strength
THREATS
Increasing Trend in Non-Core Income
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