Nitta Gelatin India Ltd

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

Pros:
Stock is trading at 0.54 times its book value
Company has been maintaining a healthy dividend payout of 35.43%
Cons:
Company has low interest coverage ratio.
The company has delivered a poor growth of 1.12% over past five years.
Company has a low return on equity of 5.21% for last 3 years.
Contingent liabilities of Rs.45.98 Cr.

Peer Comparison Sector: Chemicals // Industry: Chemicals

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Mar 2019 Jun 2019
77.96 87.12 88.11
70.36 76.95 80.28
Operating Profit 7.60 10.17 7.83
OPM % 9.75% 11.67% 8.89%
Other Income 0.26 0.02 1.67
Interest 1.54 2.83 2.03
Depreciation 3.54 3.91 3.83
Profit before tax 2.78 3.45 3.64
Tax % 29.86% 53.33% 26.37%
Net Profit 1.64 1.18 2.43
Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
146.39 182.63 189.09 202.49 244.10 302.85 286.57 353.73 356.76 355.72 342.13 303.03
132.65 151.79 156.65 190.60 222.90 260.48 270.83 330.17 320.61 320.09 313.10 273.00
Operating Profit 13.74 30.84 32.44 11.89 21.20 42.37 15.74 23.56 36.15 35.63 29.03 30.03
OPM % 9.39% 16.89% 17.16% 5.87% 8.68% 13.99% 5.49% 6.66% 10.13% 10.02% 8.49% 9.91%
Other Income 4.86 5.00 8.03 2.71 1.25 2.01 0.26 1.96 2.33 9.05 4.59 0.92
Interest 4.21 3.66 1.91 3.13 6.43 8.84 8.03 9.80 7.57 6.99 6.71 8.70
Depreciation 6.89 6.87 7.92 9.04 9.81 15.71 16.52 14.33 12.76 13.71 15.03 14.92
Profit before tax 7.50 25.31 30.64 2.43 6.21 19.83 -8.55 1.39 18.15 23.98 11.88 7.33
Tax % 8.53% 38.13% 17.46% 28.40% 24.15% 54.72% 23.39% 358.27% 52.78% 48.96% 61.28% 32.74%
Net Profit 6.83 15.55 25.21 1.69 4.69 10.74 -6.09 -1.42 10.73 14.17 4.45 3.47
EPS in Rs 5.90 13.50 21.76 1.01 3.70 9.08 0.00 0.00 10.26 15.60 4.91 3.82
Dividend Payout % 18.45% 16.21% 19.99% 198.82% 71.64% 31.28% -0.00% -63.94% 21.16% 16.02% 51.01% 39.25%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:5.19%
5 Years:1.12%
3 Years:-5.30%
TTM:-11.43%
Compounded Profit Growth
10 Years:-14.15%
5 Years:%
3 Years:-31.96%
TTM:-24.04%
Return on Equity
10 Years:5.69%
5 Years:4.76%
3 Years:5.21%
Last Year:2.26%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
8.40 8.40 8.40 8.40 8.40 8.40 9.08 9.08 24.88 9.08 9.08 9.08
Reserves 65.21 77.81 97.14 94.91 95.69 105.09 99.61 99.08 105.33 124.47 139.47 141.48
Borrowings 23.58 8.19 0.26 47.17 59.88 57.22 68.39 65.63 76.48 108.67 103.58 107.95
14.55 24.10 31.47 35.00 42.03 54.04 54.95 52.47 70.09 61.65 68.58 69.46
Total Liabilities 111.74 118.50 137.27 185.48 206.00 224.75 232.03 226.26 260.98 303.87 320.71 327.97
56.34 61.46 72.34 79.18 121.88 116.68 125.38 117.72 119.99 110.27 113.38 122.24
CWIP 2.03 3.98 7.99 34.55 6.56 8.51 8.58 8.80 8.55 12.82 10.28 3.57
Investments 0.10 0.10 0.15 0.50 0.82 0.82 0.82 0.77 0.74 0.90 0.89 0.92
53.27 52.96 56.79 71.25 76.74 98.74 97.25 98.97 131.70 179.88 196.16 201.24
Total Assets 111.74 118.50 137.27 185.48 206.00 224.75 232.03 226.26 260.98 303.87 320.71 327.97

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
17.65 35.07 38.55 1.72 20.04 16.92 23.51 20.46 20.39 11.48 26.88 21.43
-7.92 -15.70 -22.67 -41.84 -20.00 -13.40 -24.50 -8.21 -13.53 -3.43 -7.44 -13.85
-9.94 -20.07 -12.54 37.32 0.30 -2.99 0.30 -11.84 18.45 -5.40 -19.94 -6.26
Net Cash Flow -0.21 -0.70 3.34 -2.80 0.34 0.53 -0.69 0.41 25.32 2.65 -0.49 1.32

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 12.11% 30.24% 32.52% 3.77% 7.99% 17.17% -0.29% 6.46% 13.51% 13.80% 7.51% 6.21%
Debtor Days 27.48 23.52 23.09 25.99 26.20 31.41 28.39 22.89 20.86 53.80 65.58 76.45
Inventory Turnover 4.05 5.52 6.18 5.77 5.79 6.20 5.38 6.57 6.13 5.26 4.67 4.25