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Ashoka Metcast

BSE:540923
Snowflake Description

Mediocre balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
540923
BSE
₹26M
Market Cap
  1. Home
  2. IN
  3. Capital Goods
Company description

Ashoka Metcast Limited engages in the trading of steel, electronics, and other goods primarily in Gujarat. The last earnings update was 27 days ago. More info.


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540923 Share Price and Events
7 Day Returns
3.9%
BSE:540923
-3%
IN Trade Distributors
-2.5%
IN Market
1 Year Returns
-55.6%
BSE:540923
10.6%
IN Trade Distributors
5%
IN Market
540923 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ashoka Metcast (540923) 3.9% -6.3% 4.8% -55.6% - -
IN Trade Distributors -3% -0.5% 26.2% 10.6% 15.7% -49.5%
IN Market -2.5% -1.3% 5.7% 5% 23.4% 29.3%
1 Year Return vs Industry and Market
  • 540923 underperformed the Trade Distributors industry which returned 10.6% over the past year.
  • 540923 underperformed the Market in India which returned 5% over the past year.
Price Volatility
Industry
5yr Volatility vs Market
Related Companies

540923 Value

 Is Ashoka Metcast undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Ashoka Metcast. This is due to cash flow or dividend data being unavailable. The share price is ₹2.4.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ashoka Metcast's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ashoka Metcast's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:540923 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in INR ₹-0.83
BSE:540923 Share Price ** BSE (2019-12-06) in INR ₹2.4
India Trade Distributors Industry PE Ratio Median Figure of 88 Publicly-Listed Trade Distributors Companies 18.38x
India Market PE Ratio Median Figure of 2,636 Publicly-Listed Companies 12.76x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ashoka Metcast.

BSE:540923 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:540923 Share Price ÷ EPS (both in INR)

= 2.4 ÷ -0.83

-2.9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ashoka Metcast is loss making, we can't compare its value to the IN Trade Distributors industry average.
  • Ashoka Metcast is loss making, we can't compare the value of its earnings to the India market.
Price based on expected Growth
Does Ashoka Metcast's expected growth come at a high price?
Raw Data
BSE:540923 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Trade Distributors Industry PEG Ratio Median Figure of 47 Publicly-Listed Trade Distributors Companies 1.27x
India Market PEG Ratio Median Figure of 599 Publicly-Listed Companies 1.09x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Ashoka Metcast, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ashoka Metcast's assets?
Raw Data
BSE:540923 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in INR ₹18.81
BSE:540923 Share Price * BSE (2019-12-06) in INR ₹2.4
India Trade Distributors Industry PB Ratio Median Figure of 129 Publicly-Listed Trade Distributors Companies 0.69x
India Market PB Ratio Median Figure of 3,571 Publicly-Listed Companies 0.84x
BSE:540923 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:540923 Share Price ÷ Book Value per Share (both in INR)

= 2.4 ÷ 18.81

0.13x

* Primary Listing of Ashoka Metcast.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ashoka Metcast is good value based on assets compared to the IN Trade Distributors industry average.
X
Value checks
We assess Ashoka Metcast's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Trade Distributors industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Trade Distributors industry average (and greater than 0)? (1 check)
  5. Ashoka Metcast has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

540923 Future Performance

 How is Ashoka Metcast expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ashoka Metcast has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
17.3%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ashoka Metcast expected to grow at an attractive rate?
  • Unable to compare Ashoka Metcast's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Ashoka Metcast's earnings growth to the India market average as no estimate data is available.
  • Unable to compare Ashoka Metcast's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BSE:540923 Future Growth Rates Data Sources
Data Point Source Value (per year)
India Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Asia Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
India Market Earnings Growth Rate Market Cap Weighted Average 19.8%
India Market Revenue Growth Rate Market Cap Weighted Average 11.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:540923 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:540923 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-09-30 3 -1 -9
2019-06-30 1 -12 -5
2019-03-31 -23 -2
2018-03-31 192 -3
2017-03-31 1 -77 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Ashoka Metcast is high growth as no earnings estimate data is available.
  • Unable to determine if Ashoka Metcast is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:540923 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Ashoka Metcast Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:540923 Past Financials Data
Date (Data in INR Millions) EPS *
2019-09-30 -0.83
2019-06-30 -0.51
2019-03-31 -0.18
2018-03-31 -3.65
2017-03-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Ashoka Metcast will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Ashoka Metcast's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  2. Ashoka Metcast's competitive advantages and company strategy can generally be found in its financial reports archived here.
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Ashoka Metcast's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ashoka Metcast has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

540923 Past Performance

  How has Ashoka Metcast performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ashoka Metcast's growth in the last year to its industry (Trade Distributors).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ashoka Metcast does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Ashoka Metcast's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Ashoka Metcast's 1-year growth to the IN Trade Distributors industry average as it is not currently profitable.
Earnings and Revenue History
Ashoka Metcast's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ashoka Metcast Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:540923 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 2.82 -8.91 1.20
2019-06-30 1.41 -5.43 1.05
2019-03-31 -1.94 0.89
2018-03-31 191.73 -2.80 0.47
2017-03-31 0.99 0.11 0.04
2016-03-31 0.01
2015-03-31 0.07
2014-03-31 -0.11
2013-03-31 -0.02

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Ashoka Metcast has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Ashoka Metcast has efficiently used its assets last year compared to the IN Trade Distributors industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Ashoka Metcast improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Ashoka Metcast's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Trade Distributors industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ashoka Metcast has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

540923 Health

 How is Ashoka Metcast's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ashoka Metcast's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ashoka Metcast is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ashoka Metcast's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ashoka Metcast's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ashoka Metcast Company Filings, last reported 2 months ago.

BSE:540923 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 201.45 170.35 0.35
2019-06-30 201.45 170.35 0.35
2019-03-31 209.48 48.08 7.76
2018-03-31 211.42 55.44 73.84
2017-03-31 0.13 0.00 0.11
2016-03-31 0.02 1.04 0.10
2015-03-31 0.01 12.77 0.14
2014-03-31 -0.06 13.62 0.97
2013-03-31 0.05 4.35 0.31
  • Ashoka Metcast's level of debt (84.6%) compared to net worth is high (greater than 40%).
  • Ashoka Metcast had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Ashoka Metcast has less than a year of cash runway based on current free cash flow.
  • Ashoka Metcast has less than a year of cash runway if free cash flow continues to reduce at historical rates of -36% each year.
X
Financial health checks
We assess Ashoka Metcast's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ashoka Metcast has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

540923 Dividends

 What is Ashoka Metcast's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Ashoka Metcast dividends.
If you bought ₹2,000 of Ashoka Metcast shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Ashoka Metcast's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Ashoka Metcast's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:540923 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
India Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 25 Stocks 0.4%
India Market Average Dividend Yield Market Cap Weighted Average of 1391 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Ashoka Metcast has not reported any payouts.
  • Unable to verify if Ashoka Metcast's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Ashoka Metcast's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Ashoka Metcast has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Ashoka Metcast's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ashoka Metcast afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ashoka Metcast has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

540923 Management

 What is the CEO of Ashoka Metcast's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Shalin Shah
COMPENSATION ₹0
AGE 46
TENURE AS CEO 2.1 years
CEO Bio

Mr. Shalin Ashok Shah, B.E. (Civil), has been the Managing Director at Gujarat Natural Resources Limited since January 2010 and has been its Whole Time Director since October 2008. Mr. Shah has been Managing Director of Ashoka Metcast Limited since November 11, 2017 and serves as its Executive Director. He serves as a Non Executive Director at Lesha Industries Limited since July 21, 1995, and served as its Managing Director until October 11, 2017, and also served as its Executive Director. He served as the Compliance Officer of Gujarat Natural Resources Ltd., from January 2010 to November 14, 2014 and its Chief Legal Officer. He serves as a Director of Tanya Estates Private Limited. Mr. Shah served as a Director of TechnoCorp. infosystems Ltd., and Shree Ghantakarana RollingMills Pvt. Ltd.

CEO Compensation
  • Insufficient data for Shalin to compare compensation growth.
  • Insufficient data for Shalin to establish whether their remuneration is reasonable compared to companies of similar size in India.
Management Team

Shalin Shah

TITLE
MD & Executive Director
AGE
46
TENURE
2.1 yrs

Bhumika Thakkar

TITLE
Company Secretary
COMPENSATION
₹120K
TENURE
2.1 yrs
Board of Directors Tenure

Average tenure and age of the Ashoka Metcast board of directors in years:

2.1
Average Tenure
46
Average Age
  • The average tenure for the Ashoka Metcast board of directors is less than 3 years, this suggests a new board.
Board of Directors

Shalin Shah

TITLE
MD & Executive Director
AGE
46

Payal Pandya

TITLE
Non-Executive & Independent Director
AGE
32
TENURE
2.1 yrs

Chitra Thaker

TITLE
Non-Executive & Independent Director
TENURE
2.1 yrs

Leena Shah

TITLE
Director

Ashok Shah

TITLE
Non–Executive & Non–Independent Director
AGE
75
TENURE
2.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess Ashoka Metcast's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ashoka Metcast has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

540923 News

Simply Wall St News

540923 Company Info

Description

Ashoka Metcast Limited engages in the trading of steel, electronics, and other goods primarily in Gujarat. The company was incorporated in 2009 and is based in Ahmedabad, India.

Details
Name: Ashoka Metcast Limited
540923
Exchange: BSE
Founded: 2009
₹25,704,000
10,710,000
Website: http://www.ashokametcast.in
Address: Ashoka Metcast Limited
Ashoka Chambers,
7th Floor,
Ahmedabad,
Gujarat, 380006,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 540923 Equity Shares Mumbai Stock Exchange IN INR 05. Feb 2018
Number of employees
Current staff
Staff numbers
0
Ashoka Metcast employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/11 12:54
End of day share price update: 2019/12/06 00:00
Last earnings filing: 2019/11/14
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.