Price
Financials
Standalone, Rs crore| Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 49.91 | 60.32 | 57.77 | 60.32 | 82.32 | 56.72 | 41.73 | 67.98 | 93.59 | 52.33 | 55.20 | 62.61 |
| Expenses | 52.30 | 65.78 | 69.39 | 61.83 | 108.82 | 58.30 | 42.88 | 68.77 | 164.47 | 53.87 | 58.88 | 64.64 |
| Operating Profit | -2.39 | -5.46 | -11.62 | -1.51 | -26.50 | -1.58 | -1.15 | -0.79 | -70.88 | -1.54 | -3.68 | -2.03 |
| OPM % | -4.79% | -9.05% | -20.11% | -2.50% | -32.19% | -2.79% | -2.76% | -1.16% | -75.73% | -2.94% | -6.67% | -3.24% |
| Other Income | 4.36 | 0.38 | 16.78 | 5.80 | 56.85 | 10.33 | 6.37 | 5.89 | 149.09 | 3.98 | 7.54 | 7.28 |
| Interest | 0.49 | 0.85 | 0.85 | 0.92 | 1.07 | 1.06 | 0.98 | 1.45 | 29.41 | 1.43 | 1.23 | 1.27 |
| Depreciation | 0.48 | 0.55 | 0.55 | 0.54 | 0.50 | 0.44 | 0.46 | 0.46 | 0.41 | 0.43 | 0.42 | 0.42 |
| Profit before tax | 1.00 | -6.48 | 3.76 | 2.83 | 28.78 | 7.25 | 3.78 | 3.19 | 48.39 | 0.58 | 2.21 | 3.56 |
| Tax % | 50.00% | 0.00% | 25.27% | 21.20% | -4.55% | 30.34% | 21.16% | 10.97% | 6.14% | 0.00% | 24.43% | -4.21% |
| Net Profit | 0.50 | -6.48 | 2.81 | 2.23 | 30.10 | 5.05 | 2.98 | 2.83 | 45.42 | 0.58 | 1.67 | 3.72 |
| EPS in Rs | 0.65 | -8.39 | 3.64 | 2.89 | 38.96 | 6.54 | 3.86 | 3.66 | 58.79 | 0.75 | 2.16 | 4.81 |
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 182 | 209 | 147 | 185 | 190 | 136 | 113 | 179 | 155 | 261 | 260 | 253 |
| Expenses | 188 | 205 | 158 | 197 | 190 | 141 | 120 | 192 | 183 | 306 | 333 | 260 |
| Operating Profit | -6 | 4 | -10 | -12 | 1 | -5 | -7 | -14 | -27 | -45 | -73 | -7 |
| OPM % | -3.4% | 2.1% | -7% | -6% | 0.5% | -3.8% | -6% | -8% | -18% | -17% | -28% | -2.9% |
| Other Income | 41 | 14 | 24 | 19 | 8 | 12 | 12 | 20 | 32 | 80 | 172 | 11 |
| Interest | 6 | 9 | 3 | 3 | 3 | 3 | 2 | 3 | 3 | 6 | 34 | 7 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 2 |
| Profit before tax | 27 | 8 | 9 | 3 | 4 | 2 | 0 | 0 | -1 | 27 | 63 | -5 |
| Tax % | 32% | 28% | 14% | 18% | 26% | 58% | 32% | -106% | 83% | 1% | 10% | -84% |
| Net Profit | 18 | 6 | 8 | 2 | 3 | 1 | 0 | 1 | -1 | 27 | 56 | -1 |
| EPS in Rs | 2.38 | 3.54 | 1.22 | 0.23 | 1.28 | -1.42 | 34.83 | 72.85 | -1.13 | |||
| Dividend Payout % | 6% | 18% | 1% | 10% | 14% | 21% | 43% | 8% | 0% | 7% | 3% | -209% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 2% | 18% | 18% | -3% | ||
| Compounded Profit Growth | 16% | 66% | 45% | -83% | ||
| Stock Price CAGR | -3% | % | % | % | ||
| Return on Equity | 3% | 5% | 9% | 3% |
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 9 | 8 | 8 | 8 | 8 | 8 | 7 | 7 | 7 |
| Reserves | 92 | 94 | 102 | 143 | 134 | 133 | 133 | 134 | 133 | 207 | 267 | 259 |
| Borrowings | 38 | 23 | 25 | 2 | 7 | 0 | 0 | 0 | 16 | 23 | 40 | 49 |
| Other Liabilities | 45 | 46 | 40 | 55 | 82 | 65 | 65 | 81 | 88 | 124 | 128 | 150 |
| Total Liabilities | 179 | 167 | 171 | 209 | 231 | 206 | 206 | 223 | 245 | 361 | 442 | 465 |
| Fixed Assets | 18 | 12 | 13 | 20 | 28 | 25 | 24 | 22 | 19 | 18 | 16 | 16 |
| CWIP | 0 | 0 | 2 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 8 | 4 | 3 | 2 | 2 | 65 | 78 | 91 | 100 | 202 | 227 | 221 |
| Other Assets | 153 | 151 | 154 | 184 | 202 | 116 | 104 | 110 | 125 | 141 | 198 | 228 |
| Total Assets | 179 | 167 | 171 | 209 | 231 | 206 | 206 | 223 | 245 | 361 | 442 | 465 |
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 5 | 8 | -12 | 24 | 33 | 13 | 6 | 6 | -13 | 23 | 15 | -4 |
| Cash from Investing Activity | -5 | 11 | 7 | -33 | -13 | -21 | -3 | -3 | 11 | -19 | 1 | -0 |
| Cash from Financing Activity | 2 | -22 | -1 | 18 | -9 | -11 | -2 | -2 | 2 | -5 | -18 | 2 |
| Net Cash Flow | 2 | -3 | -6 | 9 | 11 | -19 | 1 | 2 | 0 | -0 | -2 | -3 |
| Free Cash Flow | 1 | 14 | -16 | 14 | 30 | 15 | 5 | 4 | 0 | 28 | 21 | -6 |
| CFO/OP | -112% | 215% | 86% | -186% | 3,957% | -270% | -91% | -51% | 46% | -51% | -37% | 45% |
| Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 161 | 137 | 162 | 171 | 146 | 161 | 157 | 108 | 140 | 121 | 149 | 152 |
| Inventory Days | 131 | 120 | 216 | 85 | 99 | 106 | 135 | 76 | 124 | 59 | 56 | 100 |
| Days Payable | 90 | 84 | 91 | 57 | 120 | 132 | 169 | 125 | 152 | 103 | 119 | 156 |
| Cash Conversion Cycle | 202 | 173 | 287 | 199 | 125 | 134 | 124 | 59 | 112 | 78 | 85 | 96 |
| Working Capital Days | 188 | 166 | 273 | 224 | 182 | 123 | 110 | 40 | 73 | 10 | 35 | 37 |
| ROCE % | 13% | 9% | 3% | -1% | 7% | 6% | 1% | -1% | -3% | 5% | 31% | 3% |
| Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 66.77% | 66.77% | 66.77% | 90.23% | 90.23% | 90.23% | 90.23% | 90.23% | 90.23% | 90.23% | 90.23% | 90.23% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 33.21% | 33.21% | 33.20% | 9.75% | 9.75% | 9.75% | 9.75% | 9.74% | 9.75% | 9.75% | 9.75% | 9.88% |
| No. of Shareholders | 4,251 | 4,080 | 3,770 | 3,643 | 3,567 | 3,559 | 3,282 | 3,214 | 3,153 | 3,059 | 3,043 | 3,000 |
Fundamentals
Market Cap₹ 179 Cr.
Current Price₹ 232
Stock P/E22.6
Book Value₹ 344
ROCE3.35 %
ROE2.94 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-3%
Compounded Profit Growth (TTM)-83%
Standalone figures.
Valuation
Market capRs 169 Cr
Enterprise valueRs 216 Cr
P/E (TTM)3.29x
Price to book0.64x
Price to sales0.64x
EV / EBITDA2.41x
EV / EBIT2.45x
EV / sales0.82x
Earnings yield30.40%
Dividend yield1.08%
P/E, 3-year average5.00x
P/B, 3-year average0.76x
P/E, 5-year average35.78x
P/B, 5-year average0.77x
Profitability
Operating margin (excl. other income)-2.86%
Operating margin (incl. other income)1.35%
EBITDA margin34.03%
Pre-tax margin20.76%
Net profit margin19.49%
Net margin, latest quarter5.94%
ROE-0.32%
ROCE0.55%
ROA-0.19%
ROE, 3-year average12.62%
ROCE, 3-year average17.46%
ROA, 3-year average7.57%
ROE, 5-year average7.56%
ROCE, 5-year average11.36%
ROA, 5-year average4.54%
ROIC (approx.)4.55%
Tax rate83.83%
Other income / net worth4.00%
Growth
Sales growth (latest year)-2.81%
Profit growth (latest year)-101.55%
Sales CAGR, 3 years17.62%
Sales CAGR, 5 years17.50%
Sales growth QoQ13.42%
Profit growth QoQ122.75%
Sales growth YoY (latest quarter)-7.90%
Profit growth YoY (latest quarter)31.45%
Per share
EPS (TTM)Rs 70.51
EPS (latest year)Rs -1.19
EPS (latest quarter)Rs 5.10
EPS, 3-year averageRs 37.65
EPS, 5-year averageRs 22.56
Book value per shareRs 365.13
Sales per shareRs 361.84
Cash flow per shareRs -5.69
Free cash flow per shareRs -8.23
Dividend per share (latest year)Rs 2.50
Dividend per share, 3-year averageRs 2.50
Dividend per share, 5-year averageRs 1.90
Dividends
Dividend payout, 3-year average5.00%
Dividend payout, 5-year average6.03%
Efficiency
Asset turnover0.54x
Fixed asset turnover16.22x
Inventory turnover4.30x
Inventory days85 days
Debtor days152 days
Debtors turnover2.40x
Creditor days156 days
Cash conversion cycle96 days
Working capital days37 days
Leverage
Total debtRs 49 Cr
Cash and bankRs 2 Cr
Net debtRs 47 Cr
Debt to equity0.19x
Net debt / EBITDA0.52x
Interest coverage2.64x
Owners' fund to total sources57.22%
Debt to assets10.59%
Cash flow
Cash from Operating Activity (latest year)Rs -4 Cr
Cash from Investing Activity (latest year)Rs -0 Cr
Cash from Financing Activity (latest year)Rs 2 Cr
Net Cash Flow (latest year)Rs -3 Cr
Free cash flow (latest year)Rs -6 Cr
FCFE (approx.: FCF + change in debt)Rs 3 Cr
Cash from ops / profit, 5 years0.33x
Statement figures
Net sales (TTM)Rs 264 Cr
Net sales (latest year)Rs 253 Cr
Sales (latest quarter)Rs 63 Cr
Operating profit excl. other income (latest year)Rs -7 Cr
Operating profit (latest quarter)Rs -2 Cr
Other income (TTM)Rs 168 Cr
EBITDA (TTM)Rs 90 Cr
PBDT (TTM)Rs 56 Cr
Profit before tax (TTM)Rs 55 Cr
Tax (latest year)Rs -5 Cr
Net profit (TTM)Rs 51 Cr
Net profit (latest year)Rs -1 Cr
Net profit (latest quarter)Rs 4 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 33 Cr
Cost of goods sold (latest year)Rs 211 Cr
Total expenditure (latest year)Rs 260 Cr
Total income (latest year)Rs 263 Cr
Share capitalRs 7 Cr
ReservesRs 259 Cr
Shareholders' fundsRs 266 Cr
Total assetsRs 465 Cr
Net blockRs 16 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 221 Cr
ReceivablesRs 105 Cr
InventoryRs 49 Cr
Other liabilitiesRs 150 Cr
Shares outstanding (crore)0.73
Ownership
Promoter holding90.23% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 3.3 is at the 17th percentile of its own 2.0-year range
(median 3.8, low 2.8, high 7.5).
P/B 0.62 is at the 16th percentile (median 0.79).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | ECEIND | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -4.7% | -2.8% | -2.0 pts |
| 1 month | -34.9% | -6.8% | -28.1 pts |
| 3 months | +3.0% | -7.6% | +10.6 pts |
| 6 months | -11.3% | +0.4% | -11.7 pts |
| 1 year | -47.4% | -9.9% | -37.5 pts |
| 2 years | -1.6% | -13.6% | +11.9 pts |
| 3 years | +36.3% | +14.2% | +22.1 pts |
| 5 years | +157.1% | +27.9% | +129.2 pts |
Red flags
F-score 2 of 8| explain | Weak cash conversion Cash from operations was 41% of net profit over the last 3 years |
| look | Inventory outrunning sales Inventory grew 71% vs sales -3% in 2019 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Dec 2018Sales ₹63 Cr -7.9% vs Dec 2017.
Net profit ₹4 Cr +31.4%.
Activity
CompareNo listed peers in this industry.
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2018-09-18 | Annual General Meeting/Dividend- Rs 2.50 Per Share | |
| 2017-09-21 | Annual General Meeting/ Dividend - Rs 2.50 Per Share | |
| 2016-09-19 | Annual General Meeting | |
| 2014-09-11 | Annual General Meeting / Dividend - Re 0.10/- Per Share | |
| 2013-09-12 | Annual General Meeting And Dividend Re.0.25 Per Share | |
| 2012-09-20 | Annual General Meeting And Dividend Re.0.50 Per Share | |
| 2011-09-14 | Dividend-Re.0.25 Per Share | |
| 2010-09-21 | Dividend-Re.0.25 Per Share | |
| 2010-05-26 | Rights 1:1 @ Premium Rs.90/- | |
| 2009-09-01 | Dividend-Rs.2.50 Pr Share | |
| 2008-08-18 | Agm/Dividend - 25% |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of ECE Industries Ltd?
ECE Industries Ltd (ECEIND) has a market capitalisation of Rs 179 Cr. at the 2019-05-09 close.
What is the P/E ratio of ECE Industries Ltd?
ECE Industries Ltd trades at a P/E of 22.6 on trailing twelve-month profit, at the 2019-05-09 close.
What were ECE Industries Ltd's latest quarterly results?
In the Dec 2018 quarter, ECE Industries Ltd sales was Rs 63 Cr (-7.9% vs Dec 2017) and net profit was Rs 4 Cr.