Associated Ceramics

₹240 -4.9 | 2%

WEBSITE BSE:531168 NSE : ASSOC CERAMI 26 Dec, 16:01

Market Cap ₹49 Cr.

Stock P/E 57.3

P/B 2.2

Current Price ₹240

Book Value ₹ 110

Face Value 10

52W High ₹1408.2

Dividend Yield 0%

52W Low ₹ 240

Edit Ratio

Associated Ceramics Research see more...

Overview Inc. Year: 1970Industry: Refractories

Associated Ceramics Limited is a public limited company that was incorporated in 1970 as a subsidiary of W.H. Brady & Co. Ltd. The company is one of India’s leading manufacturers of material handling equipment, such as cranes, hoists, winches, pulleys, trolleys, pallet trucks, etc. It caters to various industries, such as steel, cement, power, oil and gas, mining, defence, and others. The company’s promoters are Pavan G. Morarka, Vaibhav Morarka, Kaushik D. Shah, and W.H. Brady & Co. Ltd, who together hold 73.98% of the company’s shares. Pavan G. Morarka is also the chairman and managing director of the company, while Vaibhav Morarka is an executive director. The company’s management team also includes Rajiv Bakshi, Rajender Kumar Sharma, Mita Jha, and H.S. Bindra as directors. The company’s website is bradymorris.in.

Associated Ceramics Share Price

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Price: NSE50 DMA200 DMAVolume

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Peer Comparison

Associated Ceramics Quarterly Results

#(Fig in Cr.)	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Net Sales	10	15	13	19	8	9	13	10	9	12
Other Income	0	0	0	0	0	0	0	0	0	0
Total Income	10	15	13	19	8	9	13	11	9	12
Total Expenditure	8	14	10	16	8	7	11	10	7	11
Operating Profit	2	0	3	3	0	3	2	1	2	1
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	1	1	1	1	1	1	1
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	1	0	3	2	-0	1	1	-0	2	0
Provision for Tax	0	0	0	2	-0	0	0	0	0	0
Profit After Tax	1	0	3	0	-0	1	1	-0	1	0
Adjustments	0	0	0	-0	0	-0	0	0	-0	0
Profit After Adjustments	1	0	3	0	-0	1	1	-0	1	0
Adjusted Earnings Per Share	6.4	0.6	13.2	2.2	-1.7	4.8	3.5	-2.4	5.7	0.4

Associated Ceramics Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	18	17	25	20	17	27	34	31	38	56	41	44
Other Income	0	0	0	0	1	1	1	1	0	1	1	0
Total Income	18	17	25	20	18	28	35	32	39	56	41	45
Total Expenditure	18	16	23	21	17	25	30	27	32	48	36	39
Operating Profit	1	1	2	-1	0	3	5	5	6	8	6	6
Interest	0	0	0	1	1	0	0	0	0	1	0	0
Depreciation	1	1	1	2	2	1	1	1	1	2	4	4
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	-0	0	0	0
Profit Before Tax	0	0	1	-4	-2	2	3	4	5	6	2	3
Provision for Tax	0	0	2	-1	0	-0	0	-0	1	2	1	0
Profit After Tax	0	0	-1	-3	-2	2	3	5	4	5	1	2
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	0	0	-1	-3	-2	2	3	5	4	5	1	2
Adjusted Earnings Per Share	0.4	1	-4.1	-13.8	-8.8	8.2	14.2	19.9	20.5	22.4	4.2	7.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-27%	10%	9%	9%
Operating Profit CAGR	-25%	6%	15%	20%
PAT CAGR	-80%	-42%	-13%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-60%	NA%	NA%	NA%
ROE Average	3%	14%	18%	6%
ROCE Average	7%	15%	17%	8%

Associated Ceramics Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	19	19	18	14	12	14	17	22	26	30	21
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	3	3	3	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	2	1	1	1	1	0	0	0	1
Total Current Liabilities	6	11	15	16	12	10	11	10	8	17	25
Total Liabilities	25	30	37	33	27	24	28	32	34	47	48
Fixed Assets	5	5	12	13	11	10	10	9	11	25	25
Other Non-Current Assets	0	0	2	1	1	1	1	3	6	2	2
Total Current Assets	19	24	24	20	16	13	18	19	17	20	21
Total Assets	25	30	37	33	27	24	28	32	34	47	48

Associated Ceramics Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	1	1	2	0	0	0	0	1	0	1	1
Cash Flow from Operating Activities	2	-1	-1	0	4	9	-0	0	8	9	16
Cash Flow from Investing Activities	-0	-1	-9	1	-0	-0	-1	-2	-5	-12	-7
Cash Flow from Financing Activities	-1	2	9	-1	-3	-9	2	2	-3	3	-9
Net Cash Inflow / Outflow	0	1	-2	-0	0	-0	1	-0	1	-0	-0
Closing Cash & Cash Equivalent	1	2	0	0	0	0	1	0	1	1	0

Associated Ceramics Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	0.37	1	-4.13	-13.85	-8.77	8.22	14.25	19.86	20.47	22.38	4.19
CEPS(Rs)	3.23	3.66	0.65	-6.03	-1.93	14.05	19.79	24.8	25.32	30.04	21.6
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	71.38	72.04	67.83	52.27	43.5	51.72	65.97	85.79	115.11	137.48	103.81
Core EBITDA Margin(%)	2.81	3.96	7.72	-5.43	-2.48	9.3	11.65	14.72	15.84	13.68	12.22
EBIT Margin(%)	1.31	2.05	4.06	-11.97	-6.07	7.95	11.1	14.2	14.23	11.97	5.27
Pre Tax Margin(%)	0.71	1.53	2.45	-17.24	-11.23	6.22	9.78	13.45	13.93	11.06	4.25
PAT Margin (%)	0.43	1.23	-3.4	-14.78	-11.68	6.86	9.63	14.53	10.91	8.2	2.11
Cash Profit Margin (%)	3.71	4.49	0.54	-6.43	-2.57	11.73	13.38	18.14	13.49	11.01	10.89
ROA(%)	0.31	0.84	-2.81	-8.96	-6.64	7.31	12.41	15.15	12.84	11.31	1.81
ROE(%)	0.52	1.4	-5.91	-23.06	-18.32	17.27	24.21	26.18	19.4	17.72	3.47
ROCE(%)	1.3	1.87	4.42	-9.18	-4.32	11.68	20.75	18.49	19.48	20.36	6.56
Receivable days	95.87	85.7	48.78	90.35	129.81	56.6	40.98	73.88	52.04	29.55	54.04
Inventory Days	232.68	251.83	212.78	238.42	204.77	107.02	98.9	115.61	96.12	71.74	82.17
Payable days	133.19	107.22	92.4	142.43	164.48	76.76	80.96	68.69	66.41	51.78	90.27
PER(x)	0	0	0	0	0	0	0	0	0	0.63	168.11
Price/Book(x)	0	0	0	0	0	0	0	0	0	0.1	6.78
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.21	0.31	0.64	0.85	0.83	0.2	0.21	0.3	0.16	0.19	3.61
EV/Core EBITDA(x)	4.13	6.32	7.25	-21.01	40.71	1.81	1.44	1.72	0.94	1.27	25.7
Net Sales Growth(%)	11.59	-7.84	50.61	-22.16	-14.23	63.53	23.44	-7.54	22.8	45.41	-27.32
EBIT Growth(%)	-46.53	46.47	195.83	-327.16	59.39	309.06	72.31	18.3	23.08	22.25	-68.01
PAT Growth(%)	25	170.36	-511.65	-235.18	36.66	193.74	73.28	39.41	-7.8	9.33	-81.28
EPS Growth(%)	25	170.36	-511.65	-235.18	36.66	193.74	73.28	39.41	3.03	9.33	-81.28
Debt/Equity(x)	0.05	0.16	0.69	0.89	0.84	0.11	0.22	0.26	0.12	0.21	0.33
Current Ratio(x)	3.03	2.17	1.58	1.28	1.32	1.33	1.68	1.99	2.22	1.23	0.83
Quick Ratio(x)	1.44	0.76	0.45	0.56	0.63	0.52	0.71	1.03	0.8	0.56	0.54
Interest Cover(x)	2.18	3.94	2.52	-2.27	-1.17	4.6	8.43	18.82	46.17	13.17	5.19
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	2.19	0.05

Associated Ceramics Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	55.33	55.33	55.33	55.33	55.33	55.33	55.33	55.33	55.33	55.35
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	44.67	44.67	44.67	44.67	44.67	44.67	44.67	44.67	44.67	44.65
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Others	0	0	0	0	0	0	0	0	0	0
Total	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2

Pros

Company is almost debt free.

Cons

Company has a low return on equity of 14% over the last 3 years.
Debtor days have increased from 51.78 to 90.27days.
The company has delivered a poor profit growth of -12% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Associated Ceramics News

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Associated Ceramics

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Associated Ceramics Research see more...

Overview Inc. Year: 1970Industry: Refractories

Associated Ceramics Share Price

Alert Data

Quarterly Price

Peer Comparison

Associated Ceramics Quarterly Results

Associated Ceramics Profit & Loss

Growth Rates

Associated Ceramics Balance Sheet

Associated Ceramics Cash Flow

Associated Ceramics Ratios

Associated Ceramics Shareholding Pattern

Associated Ceramics News

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