ISMT Ltd.

Financial

	ISMT	APL Apollo Tubes	Hi-Tech Pipes
Operational Metrics
Steel Sector
Capacity Utilization - Steel	67.0 %	n/a	n/a
Manufacturing Capacity - Steel	350000.0 Ths Tonnes	n/a	n/a
Realization/Tonne - Steel	71416.07 Rs/MT	n/a	n/a
Steel Tubes & Pipes
Capacity Utilization - Steel Pipes	49.0 %	n/a	n/a
Realization/Tonne - Steel Pipes	134193.06 Rs/MT	n/a	63951.6 Rs/MT
Unclassified
Manufacturing Capacity - Steel Tubes	371000.0 MTPA	3600000.0 MTPA	n/a
Financials
5 yr Average ROE	49.9 %	20.13 %	13.22 %
5yr average Equity Multiplier	-0.71	2.38	2.96
5yr Average Asset Turnover Ratio	0.86	2.43	2.42
5yr Avg Net Profit Margin	11.0 %	3.62 %	1.83 %
Price to Book	2.01	13.16	4.25
P/E	19.42	56.52	39.47
5yr Avg Cash Conversion Cycle	20.0 Days	-4.11 Days	49.0 Days
Inventory Days	56.18 Days	29.95 Days	45.52 Days
Days Receivable	27.02 Days	5.2 Days	27.0 Days
Days Payable	42.21 Days	35.18 Days	17.13 Days
5yr Average Interest Coverage Ratio	39.87	9.92	2.21
5yr Avg ROCE	0.4 %	24.26 %	21.49 %
5yr Avg Operating Profit Margin	5.93 %	6.94 %	5.15 %
5 yr average Debt to Equity	-1.14	0.47	1.47
5yr CAGR Net Profit	n/a	34.06 %	6.68 %
5yr Average Return on Assets	17.98 %	8.85 %	4.43 %
Shareholdings
Promoter Holding	74.95 %	29.44 %	53.2 %
Share Pledged by Promoters	0.02 %	0.0	2.88 %
Change in Promoter Holding (3 Yrs)	23.24 %	-7.56 %	-9.28 %
Change in Mutual Fund Holding (3 Yrs)	-0.01 %	3.35 %	8.0 %

Business

	ISMT	APL Apollo Tubes	Hi-Tech Pipes
Product Wise Break-Up	Product Wise Break-Up Tube Segment 81.67 Steel products 18.33 Galvanized tubes 0 Pre-galvanized tubes (GP) 0 Black round pipes 0 Hollow sections 0 Flat Steel & Coated Products 0 Steel Tubes & Pipes 0	Product Wise Break-Up Steel Tubes & Pipes 0 Hollow sections 68.0 Tube Segment 0 Black round pipes 0 Galvanized tubes 0 Flat Steel & Coated Products 0 Steel products 0 Pre-galvanized tubes (GP) 26.0 Others 6.0	Product Wise Break-Up Steel Tubes & Pipes 65.0 Hollow sections 0 Tube Segment 0 Black round pipes 0 Galvanized tubes 0 Flat Steel & Coated Products 33.0 Steel products 0 Pre-galvanized tubes (GP) 0 Others 2.0
Location Wise Break-Up	Location Wise Break-Up India 88.5 Rest of the World 11.5	Location Wise Break-Up Rest of the World 0.01 India 99.99	Location Wise Break-Up Rest of the World 0 India 97.12 Others 2.88
Operating Profit Break-Up	Operating Profit Break-Up TUBE SEGMENT 87.16 STEEL SEGMENT 12.84 Apollo Standard 0 Apollo Z 0 Apollo Galv 0 Apollo Tricoat 0 Apollo Structural 0	Operating Profit Break-Up Apollo Tricoat 24.27 Apollo Galv 6.38 TUBE SEGMENT 0 Apollo Structural 38.48 Apollo Standard 0 Apollo Z 30.87 STEEL SEGMENT 0	-
Raw Material Break-Up	Raw Material Break-Up Steel Bars/Rods 52.38 Pig Iron 41.09 Ferro Alloys 6.53	-	-
Asset Break-Up	Asset Break-Up TUBE SEGMENT 74.47 STEEL SEGMENT 25.17 Others 0.36	-	-