20 Microns Ltd

20 Microns is engaged in Business of Industrial Micronised Minerals and Speciality Chemicals.(Source : 201903 Annual Report Page No: 75)

Pros:
Company has reduced debt.
Stock is trading at 0.68 times its book value
Company has good consistent profit growth of 122.56% over 5 years
Cons:
The company has delivered a poor growth of 8.60% over past five years.
Promoters have pledged 54.72% of their holding.
Company's cost of borrowing seems high
Promoter holding has decreased by -6.74% over last 3 years.

Peer Comparison Sector: Mining & Mineral products // Industry: Mining / Minerals / Metals

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
85.21 88.29 97.37 97.43 92.65 101.13 107.83 108.11 103.14 116.59 127.81 131.20
74.12 80.50 85.21 83.63 79.26 88.25 91.79 92.63 89.24 100.48 109.41 115.87
Operating Profit 11.09 7.79 12.16 13.80 13.39 12.88 16.04 15.48 13.90 16.11 18.40 15.33
OPM % 13.01% 8.82% 12.49% 14.16% 14.45% 12.74% 14.88% 14.32% 13.48% 13.82% 14.40% 11.68%
Other Income 0.49 0.61 0.35 0.53 1.04 0.14 1.14 0.91 0.07 0.53 0.48 1.31
Interest 5.58 5.31 5.42 5.52 5.27 5.18 5.17 5.11 5.42 5.16 4.86 5.07
Depreciation 2.21 2.22 2.24 2.27 2.30 2.30 2.29 2.36 2.35 2.37 2.45 3.04
Profit before tax 3.79 0.87 4.85 6.54 6.86 5.54 9.72 8.92 6.20 9.11 11.57 8.53
Tax % 35.36% 21.84% 35.67% 32.42% 27.11% 39.35% 33.33% 38.79% 35.81% 36.22% 30.86% 28.25%
Net Profit 2.45 0.68 3.13 4.42 5.01 3.37 6.48 5.46 3.97 5.80 8.01 6.12
EPS in Rs 0.69 0.19 0.89 1.25 1.42 0.95 1.84 1.55 1.12 1.64 2.27 1.73
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
106.25 136.63 175.18 234.01 261.54 275.31 288.39 311.12 332.77 356.95 384.66 435.66 478.74
91.14 120.04 155.40 209.83 230.58 242.13 265.00 287.83 291.34 308.20 332.32 373.92 415.00
Operating Profit 15.11 16.59 19.78 24.18 30.96 33.18 23.39 23.29 41.43 48.75 52.34 61.74 63.74
OPM % 14.22% 12.14% 11.29% 10.33% 11.84% 12.05% 8.11% 7.49% 12.45% 13.66% 13.61% 14.17% 13.31%
Other Income 0.11 -2.20 3.21 0.98 4.29 -4.50 8.46 6.45 4.22 2.30 1.95 2.43 2.39
Interest 5.25 7.88 8.04 10.62 14.09 15.55 21.69 24.92 24.18 22.74 21.39 20.86 20.51
Depreciation 3.73 4.04 4.75 5.33 6.32 7.48 10.08 9.45 9.31 8.98 9.11 9.37 10.21
Profit before tax 6.24 2.47 10.20 9.21 14.84 5.65 0.08 -4.63 12.16 19.33 23.79 33.94 35.41
Tax % 26.44% 45.75% 28.43% 40.28% 27.36% 42.48% -62.50% 12.10% 23.11% 31.97% 33.29% 36.00%
Net Profit 4.59 1.34 7.30 5.50 10.78 3.24 0.13 -4.07 9.34 13.16 15.88 21.71 23.90
EPS in Rs 0.47 2.46 1.79 3.61 0.47 0.04 0.00 2.65 3.73 4.50 6.15 6.76
Dividend Payout % 0.00% 0.00% 19.63% 39.08% 23.93% 48.86% 0.00% -0.00% 0.00% 0.00% 16.66% 0.00%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.29%
5 Years:8.60%
3 Years:9.40%
TTM:16.85%
Compounded Profit Growth
10 Years:18.77%
5 Years:122.56%
3 Years:35.65%
TTM:12.52%
Stock Price CAGR
10 Years:3.39%
5 Years:1.19%
3 Years:-4.28%
1 Year:-25.35%
Return on Equity
10 Years:11.01%
5 Years:10.84%
3 Years:14.15%
Last Year:15.33%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
12.44 14.21 14.33 14.33 14.33 15.83 16.91 16.91 17.64 17.64 17.64 17.64 17.64
Reserves 15.77 21.49 27.27 30.27 38.05 51.45 57.50 52.77 66.37 99.67 115.14 134.44 148.31
Borrowings 46.52 58.62 84.35 81.42 144.67 148.49 162.01 152.80 155.18 145.14 128.56 116.61 96.99
22.96 26.65 29.66 66.61 48.38 53.40 74.82 96.55 82.75 85.29 96.41 100.86 121.15
Total Liabilities 97.69 120.97 155.61 192.63 245.43 269.17 311.24 319.03 321.94 347.74 357.75 369.55 384.09
50.23 51.48 61.29 70.34 74.01 139.42 146.90 142.81 140.05 156.04 164.07 174.60 177.97
CWIP 0.88 4.60 4.82 5.70 35.67 3.44 10.73 7.09 2.45 7.02 7.88 2.71 5.88
Investments 0.69 0.91 7.19 7.19 7.38 7.38 7.38 7.38 7.38 19.54 21.69 20.61 20.61
45.89 63.98 82.31 109.40 128.37 118.93 146.23 161.75 172.06 165.14 164.11 171.63 179.63
Total Assets 97.69 120.97 155.61 192.63 245.43 269.17 311.24 319.03 321.94 347.74 357.75 369.55 384.09

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
7.13 0.34 3.29 7.35 11.78 40.59 23.12 24.45 18.41 52.96 49.86 45.52
-4.42 -8.99 -19.67 -14.80 -39.71 -36.13 -19.12 -3.93 1.19 -20.05 -11.39 -12.18
-1.59 10.55 17.87 8.01 28.64 -6.78 -3.02 -13.52 -25.02 -32.19 -40.75 -34.16
Net Cash Flow 1.12 1.90 1.49 0.56 0.71 -2.32 0.98 7.00 -5.43 0.72 -2.28 -0.82

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 16.84% 16.61% 15.53% 16.19% 17.88% 14.45% 9.75% 8.52% 15.38% 16.85% 17.87% 20.76%
Debtor Days 68.33 62.22 59.76 61.70 61.87 59.59 66.52 50.00 59.95 53.89 58.54 56.44
Inventory Turnover 9.72 8.57 6.76 6.51 6.00 5.96 5.65 5.14 5.23 5.79 6.32 6.53