Nirlon Ltd

About [ edit ]

Nirlon Ltd is in business of development and management of the Industrial Park / Information Technology (IT) Park, i.e. Nirlon Knowledge Park (NKP) - Goregaon (East), Mumbai#

It was a pioneer in manufacturing of synthetic yarns and industrial rubber products. However, from 1988 to 2006, Nirlon successfully underwent bankruptcy restructuring. Nirlon commenced development of Nirlon Knowledge Park in 2006.#

Key Points [ edit ]
  • Market Cap 2,565 Cr.
  • Current Price 285
  • High / Low 299 / 203
  • Stock P/E 20.0
  • Book Value 56.9
  • Dividend Yield 0.26 %
  • ROCE 13.5 %
  • ROE 27.3 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 31.45% CAGR over last 5 years
  • Company's median sales growth is 15.84% of last 10 years

Cons

  • The company has delivered a poor sales growth of 5.34% over past five years.
  • Company might be capitalizing the interest cost

Peer comparison

Sector: Realty Industry: Construction

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
74 71 73 78 77 75 76 77 82 80 80 80
22 17 16 17 22 17 19 20 23 19 19 19
Operating Profit 52 54 56 61 55 58 56 57 59 60 61 61
OPM % 70% 76% 78% 78% 71% 78% 74% 74% 72% 76% 76% 76%
Other Income 1 1 0 0 0 0 0 0 0 0 1 0
Interest 16 17 17 18 18 10 11 6 5 4 3 3
Depreciation 26 15 15 15 15 13 13 13 14 12 12 13
Profit before tax 10 23 25 28 23 36 32 38 41 45 46 46
Tax % 48% 36% 37% 35% 34% 28% 15% 28% 28% 28% 28% 28%
Net Profit 5 15 16 18 15 26 27 27 29 32 33 33
EPS in Rs 0.59 1.66 1.75 2.02 1.64 2.85 3.02 3.03 3.26 3.60 3.71 3.64

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
8 54 111 138 160 202 239 289 288 291 299 310 322
27 32 48 52 42 47 55 67 66 69 72 78 81
Operating Profit -18 23 63 85 117 154 184 222 222 222 226 232 242
OPM % -218% 42% 56% 62% 73% 77% 77% 77% 77% 76% 76% 75% 75%
Other Income 29 -1 42 1 14 6 9 -1 5 1 1 0 2
Interest 5 22 58 71 65 78 76 72 78 66 70 32 15
Depreciation 2 18 46 49 43 49 69 80 71 72 59 53 50
Profit before tax 4 -18 0 -34 23 34 48 69 78 85 99 146 178
Tax % 17% -3% 28% 42% 47% 6% 32% 37% 35% 35% 36% 25%
Net Profit 3 -18 0 -20 12 32 33 44 51 56 64 109 128
EPS in Rs -2.74 1.68 3.51 3.62 4.83 5.67 6.18 7.07 12.15 14.21
Dividend Payout % 0% 0% 0% 0% 0% 21% 21% 16% 13% 12% 11% 6%
Compounded Sales Growth
10 Years:19%
5 Years:5%
3 Years:3%
TTM:6%
Compounded Profit Growth
10 Years:24%
5 Years:31%
3 Years:29%
TTM:35%
Stock Price CAGR
10 Years:20%
5 Years:5%
3 Years:11%
1 Year:32%
Return on Equity
10 Years:4%
5 Years:10%
3 Years:22%
Last Year:27%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
58 58 58 72 72 89 90 90 90 90 90 90 90
Reserves 70 52 52 1,596 1,589 1,655 1,330 1,366 283 207 262 364 423
Borrowings 371 518 594 576 685 661 715 663 608 611 853 989 989
85 143 126 110 138 173 252 253 210 212 251 345 373
Total Liabilities 584 770 829 2,355 2,483 2,579 2,387 2,371 1,191 1,120 1,457 1,788 1,875
212 637 754 2,205 2,144 2,395 2,299 2,251 1,026 835 791 741 730
CWIP 317 95 32 116 296 131 7 26 55 141 559 948 1,039
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
56 38 44 34 43 53 80 94 109 143 106 99 107
Total Assets 584 770 829 2,355 2,483 2,579 2,387 2,371 1,191 1,120 1,457 1,788 1,875

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-3 81 76 87 140 175 205 205 217 212 224 311
-194 -187 -84 -72 -158 -142 -162 -75 -63 -118 -405 -325
193 101 6 -18 28 -39 -39 -136 -140 -74 148 22
Net Cash Flow -4 -4 -1 -4 10 -5 4 -6 14 20 -33 8

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 1% 1% 3% 3% 3% 5% 5% 7% 10% 16% 16% 14%
Debtor Days 50 20 11 3 4 6 5 5 5 3 3 5
Inventory Turnover 2.71 5.31 11.35 15.17

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
71.50 71.46 71.42 71.35 71.29 71.25 71.19 71.15 70.60 70.55 70.51 70.49
10.53 10.78 11.26 11.29 11.50 11.63 11.85 11.95 12.81 12.90 12.93 13.15
0.04 0.03 0.03 0.21 0.29 0.35 0.36 0.37 0.37 0.38 0.38 0.38
0.00 0.00 0.00 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20
17.94 17.73 17.29 16.96 16.72 16.57 16.40 16.33 16.03 15.98 15.98 15.78

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