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Adhunik Industries Limited, public limited company was incorporated in August 23, 1979. The Company is engaged in production of iron and steel related rolled products such as TMT bars, wire rods, H. B. Wire etc mainly used in construction industry. Besides, it has a manufacturing plant in Durgapur, West Bengal.
SEBI vide its letter-bearing no. SEBI/HO/ISD/OW/P/2017/18183 dated August 7, 2017 duly addressed to the three Stock Exchanges forwarded a list of 331 suspected shell companies as identified by Ministry of Corporate Affairs and directed the Stock Exchanges to identify the companies listed on their trading platform and place trading in all such listed securities in Stage VI of the Graded Surveillance Measure (GSM) with immediate effect. The Company was also aggrieved by the communication of Securities and Exchange Board of India (SEBI) addressed to the three stock exchanges on August 7, 2017 and the consequential order passed by National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on August 7, 2017 itself by placing securities of the Company in GSM Stage VI with effect from August 8, 2017. The Company had made a representation to SEBI on August 9, 2017 against the impugned communication of SEBI dated August 7, 2017 and also provided the required information asked by National Stock Exchange of India Limited (NSE) vide its communication dated August 9, 2017 and BSE Limited vide its communication dated August 10, 2017. Since no action was taken on the said representation dated August 9, 2017 and after providing required information to NSE and BSE, the Company had filed an appeal to Securities Appellate Tribunal (SAT). The SAT after hearing both the parties directed SEBI and the Stock Exchanges vide its order dated September 21,2017 to reverse their decisions dated August 7, 2017 which were all passed without hearing the appellant.
The Company had sought approval of shareholders by way of postal ballot on January 12, 2018 for enhancement of limit of related party transactions. However, due to frequent market fluctuations and volatility in the iron and steel market, the Company need to procure larger quantity of raw materials than the expected quantity from the related party M/s. Adhunik Alloys & Power Limited in order to keep the purchase of raw materials of the Company cost effective. Thus, the company exceeded the earlier limit approved of Rs.40,00,00,000/-. Further, pursuant to Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) 2015, the Company is seeking approval of shareholders for ratification of the same by way of postal ballot. The notice of postal ballot is approved by the Board of Directors in its meeting held on 16th May 2018.
SEBI had passed an interim order on 21st September 2018 against the Company on the basis of certain 'prima facie' observations in the matter of suspected shell companies and had advised the Company to submit their reply to the points contained in the Interim Order and also give an opportunity of personal hearing, if the Company wish to avail. The Company had filed its reply to the observations made in the Interim Order within the prescribed time. The Company had also requested SEBI to grant an opportunity of personal hearing in the matter and pursuant to that SEBI had granted the opportunity of personal hearing to the Company. During the course of said hearing, SEBI had sought certain additional documents from the Company, which it had submitted within the prescribed time limit. The Company had not received any further communication from SEBI against additional submission made by it post hearing in the subject matter.
Incredible Industries share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Market capitalization of Incredible Industries indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Incredible Industries is valued compared to its competitors.
Incredible Industries PE ratio helps investors understand what is the market value of each stock compared to Incredible Industries 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
The PEG ratio of Incredible Industries evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Return on Equity (ROE) measures how effectively Incredible Industries generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Return on Capital Employed (ROCE) evaluates the profitability of Incredible Industries in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Total debt of Incredible Industries shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
The Debt-to-Equity (DE) ratio of Incredible Industries compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
CAGR shows the consistent growth rate of Incredible Industries over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Technical analysis of Incredible Industries helps investors get an insight into when they can enter or exit the stock. Key components of Incredible Industries Technical Analysis include:
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Incredible Industries shares often struggle to rise above due to selling pressure.
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Incredible Industries ’s financial health and profitability.
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
The financials of Incredible Industries provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
The profit and loss statement of Incredible Industries highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Incredible Industries .
The balance sheet presents a snapshot of Incredible Industries ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
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