REMI EDELSTAHL TUBULARS LIMITED

Financials Remi Edelstahl Tubulars Limited

Equities

REMIEDEL6

INE158G01015

Iron & Steel

Market Closed - Bombay S.E. Other stock markets 06:00:53 2024-05-13 am EDT			5-day change	1st Jan Change
86.9 ^INR	-1.25%		-7.55%	+11.81%

Mar. 14	Crisil Keeps BB Rating on Remi Edelstahl Tubulars' Long-term Financing; Shares Drop 5%	MT
Jan. 30	Remi Edelstahl Tubulars Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023	CI

Valuation

Fiscal Period: März	2018	2019	2020	2021	2022	2023
Capitalization ¹	361.9	335	131.2	187.2	444.8	431.8
Enterprise Value (EV) ¹	870.4	773.2	416.2	544.6	757.3	673.8
P/E ratio	-18.6 x	287 x	91.9 x	86.9 x	69.8 x	302 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	0.61 x	0.27 x	0.12 x	0.23 x	0.42 x	0.32 x
EV / Revenue	1.46 x	0.62 x	0.4 x	0.66 x	0.72 x	0.5 x
EV / EBITDA	31.3 x	10.4 x	5.88 x	9.51 x	11.6 x	12.8 x
EV / FCF	-6.57 x	14.9 x	2.97 x	-8.62 x	-63.4 x	7.81 x
FCF Yield	-15.2%	6.7%	33.6%	-11.6%	-1.58%	12.8%
Price to Book	0.88 x	0.81 x	0.32 x	0.45 x	1.06 x	1.02 x
Nbr of stocks (in thousands)	10,982	10,982	10,982	10,982	10,982	10,982
Reference price ²	32.95	30.50	11.95	17.05	40.50	39.32
Announcement Date	10/22/18	9/3/19	9/3/20	9/3/21	9/1/22	8/31/23

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2018	2019	2020	2021	2022	2023
Net sales ¹	595.7	1,246	1,052	821.2	1,056	1,348
EBITDA ¹	27.78	74.7	70.76	57.25	65.45	52.45
EBIT ¹	-19.93	27.07	23.64	15.01	27.28	15.66
Operating Margin	-3.35%	2.17%	2.25%	1.83%	2.58%	1.16%
Earnings before Tax (EBT) ¹	-29.55	4.483	2.585	2.388	20.74	2.736
Net income ¹	-19.39	1.169	1.45	2.154	6.424	1.477
Net margin	-3.25%	0.09%	0.14%	0.26%	0.61%	0.11%
EPS ²	-1.770	0.1064	0.1300	0.1961	0.5800	0.1300
Free Cash Flow ¹	-132.5	51.79	139.9	-63.16	-11.94	86.25
FCF margin	-22.25%	4.16%	13.3%	-7.69%	-1.13%	6.4%
FCF Conversion (EBITDA)	-	69.33%	197.7%	-	-	164.44%
FCF Conversion (Net income)	-	4,430.52%	9,648.52%	-	-	5,839.79%
Dividend per Share	-	-	-	-	-	-
Announcement Date	10/22/18	9/3/19	9/3/20	9/3/21	9/1/22	8/31/23

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2018	2019	2020	2021	2022	2023
Net Debt ¹	509	438	285	357	313	242
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	18.3 x	5.866 x	4.027 x	6.241 x	4.775 x	4.614 x
Free Cash Flow ¹	-133	51.8	140	-63.2	-11.9	86.3
ROE (net income / shareholders' equity)	-4.61%	0.28%	0.35%	0.52%	1.54%	0.35%
ROA (Net income/ Total Assets)	-1.27%	1.6%	1.51%	1.06%	1.89%	1.12%
Assets ¹	1,528	73.14	96.08	203	340.5	132.3
Book Value Per Share ²	37.40	37.60	37.60	37.90	38.30	38.50
Cash Flow per Share ²	0.0600	0.1000	0.0800	0.0300	0.0700	0.0300
Capex ¹	8.02	14.9	16.9	8.98	6.92	5.24
Capex / Sales	1.35%	1.2%	1.61%	1.09%	0.65%	0.39%
Announcement Date	10/22/18	9/3/19	9/3/20	9/3/21	9/1/22	8/31/23

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Iron, Steel Mills & Foundries

	1st Jan change	Capi.
REMI EDELSTAHL TUBULARS LIMITED	+11.81%	11.57M
JSW STEEL LIMITED	-2.31%	24.86B
BAOSHAN IRON & STEEL CO., LTD.	+19.73%	21.11B
CHINA STEEL CORPORATION	-7.96%	11.66B
CITIC PACIFIC SPECIAL STEEL GROUP CO., LTD	+13.53%	11.18B
JINDAL STEEL & POWER LIMITED	+25.58%	11.17B
INNER MONGOLIA BAOTOU STEEL UNION CO., LTD.	+8.90%	10.12B
TERNIUM S.A.	+0.38%	8.28B
BHARAT FORGE LIMITED	+14.24%	7.79B
JINDAL STAINLESS LIMITED	+18.88%	6.78B

Iron, Steel Mills & Foundries

Stock Market
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REMIEDEL6 Stock
Financials Remi Edelstahl Tubulars Limited

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