Nitta Gelatin India Ltd

Nitta Gelatin India operates in the business of manufacture and sale of ossein, gelatin, collagen peptide.

Pros:
Stock is trading at 0.80 times its book value
Company has been maintaining a healthy dividend payout of 23.55%
Cons:
The company has delivered a poor growth of 2.55% over past five years.
Company has a low return on equity of 8.21% for last 3 years.
Contingent liabilities of Rs.47.11 Cr.
Company might be capitalizing the interest cost

Peer Comparison Sector: Chemicals // Industry: Chemicals

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Operating Profit
OPM %
Other Income
Interest
Depreciation
Profit before tax
Tax %
Net Profit

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

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
130.54 146.39 182.63 189.09 202.49 244.10 302.85 286.57 353.73 356.76 355.72 343.53
115.71 132.65 151.79 156.65 190.60 222.90 260.48 270.83 330.17 320.61 320.09 313.83
Operating Profit 14.83 13.74 30.84 32.44 11.89 21.20 42.37 15.74 23.56 36.15 35.63 29.70
OPM % 11.36% 9.39% 16.89% 17.16% 5.87% 8.68% 13.99% 5.49% 6.66% 10.13% 10.02% 8.65%
Other Income 3.43 4.86 5.00 8.03 2.71 1.25 2.01 0.26 1.96 2.33 9.05 4.00
Interest 3.87 4.21 3.66 1.91 3.13 6.43 8.84 8.03 9.80 7.57 6.99 6.71
Depreciation 7.11 6.89 6.87 7.92 9.04 9.81 15.71 16.52 14.33 12.76 13.71 15.03
Profit before tax 7.28 7.50 25.31 30.64 2.43 6.21 19.83 -8.55 1.39 18.15 23.98 11.96
Tax % 17.99% 8.53% 38.13% 17.46% 28.40% 24.15% 54.72% 23.39% 358.27% 52.78% 48.96% 67.64%
Net Profit 5.96 6.83 15.55 25.21 1.69 4.69 10.74 -6.09 -1.42 10.73 14.17 6.78
EPS in Rs 5.20 5.90 13.50 21.76 1.01 3.70 9.08 0.00 0.00 10.26 15.60 7.47
Dividend Payout % 14.09% 18.45% 16.21% 19.99% 198.82% 71.64% 31.28% -0.00% -63.94% 21.16% 16.02% 33.48%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:8.90%
5 Years:2.55%
3 Years:-0.97%
TTM:-3.43%
Compounded Profit Growth
10 Years:-0.18%
5 Years:-8.86%
3 Years:%
TTM:-52.15%
Return on Equity
10 Years:7.40%
5 Years:3.93%
3 Years:8.21%
Last Year:5.03%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
8.40 8.40 8.40 8.40 8.40 8.40 8.40 9.08 9.08 24.88 9.08 9.08
Reserves 60.33 65.21 77.81 97.14 94.91 95.69 105.09 99.61 99.08 105.33 124.47 126.72
Borrowings 28.73 23.58 8.19 0.26 47.17 59.88 57.22 68.39 65.63 76.48 108.67 100.18
13.22 14.55 24.10 31.47 35.00 42.03 54.04 54.95 52.47 70.09 61.65 62.49
Total Liabilities 110.68 111.74 118.50 137.27 185.48 206.00 224.75 232.03 226.26 260.98 303.87 298.47
55.16 56.34 61.46 72.34 79.18 121.88 116.68 125.38 117.72 119.99 110.27 113.38
CWIP 1.47 2.03 3.98 7.99 34.55 6.56 8.51 8.58 8.80 8.55 12.82 10.28
Investments 0.09 0.10 0.10 0.15 0.50 0.82 0.82 0.82 0.77 0.74 0.90 0.89
53.96 53.27 52.96 56.79 71.25 76.74 98.74 97.25 98.97 131.70 179.88 173.92
Total Assets 110.68 111.74 118.50 137.27 185.48 206.00 224.75 232.03 226.26 260.98 303.87 298.47

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
11.22 17.65 35.07 38.55 1.72 20.04 16.92 23.51 20.46 20.39 11.48 27.02
-3.22 -7.92 -15.70 -22.67 -41.84 -20.00 -13.40 -24.50 -8.21 -13.53 -3.43 -7.57
-7.01 -9.94 -20.07 -12.54 37.32 0.30 -2.99 0.30 -11.84 18.45 -5.40 -19.94
Net Cash Flow 0.99 -0.21 -0.70 3.34 -2.80 0.34 0.53 -0.69 0.41 25.32 2.65 -0.49

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 11.97% 12.11% 30.24% 32.52% 3.77% 7.99% 17.17% -0.29% 6.46% 13.51% 13.80% 7.81%
Debtor Days 20.44 27.48 23.52 23.09 25.99 26.20 31.41 28.39 22.89 20.86 53.80 65.31
Inventory Turnover 3.66 4.05 5.52 6.18 5.77 5.79 6.20 5.38 6.57 6.13 5.26 4.68