Fiberweb (India) Ltd

Fiberweb (India) Limited is engaged in the business of manufacture of Spunbond Nonwoven Fabrics from polypropylene.

Pros:
Company is virtually debt free.
Stock is trading at 1.01 times its book value
Company has good consistent profit growth of 238.44% over 5 years
Cons:
Tax rate seems low
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Textiles // Industry: Textiles - Products

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
17.88 13.00 22.06 26.50 42.74 32.38 47.10 60.80 65.75 48.41 31.94 35.10
14.31 10.00 18.43 21.67 37.28 26.94 39.75 52.44 57.04 41.52 25.22 27.63
Operating Profit 3.57 3.00 3.63 4.83 5.46 5.44 7.35 8.36 8.71 6.89 6.72 7.47
OPM % 19.97% 23.08% 16.46% 18.23% 12.77% 16.80% 15.61% 13.75% 13.25% 14.23% 21.04% 21.28%
Other Income -0.06 0.14 0.00 0.12 -0.21 0.00 0.16 0.01 -0.14 0.01 0.31 -0.31
Interest 0.01 0.01 0.01 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.10 0.81 0.81 0.91 0.16 0.76 0.76 0.77 0.96 1.24 1.24 1.03
Profit before tax 3.40 2.32 2.81 4.04 5.08 4.68 6.75 7.60 7.61 5.66 5.79 6.13
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Profit 3.39 2.32 2.81 4.04 5.08 4.68 6.75 7.60 7.61 5.66 5.80 6.13
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Dec 2006 Dec 2007 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
32 32 39 30 45 44 51 65 68 62 104 206 181
32 31 40 28 42 41 48 63 66 54 87 176 151
Operating Profit 0 1 -1 2 2 3 3 1 2 8 17 30 30
OPM % 1% 4% -3% 8% 6% 7% 6% 2% 3% 13% 16% 15% 16%
Other Income 0 -50 39 0 -39 1 -2 0 0 3 0 0 -0
Interest 1 0 0 0 1 0 0 0 0 0 0 0 0
Depreciation 3 1 3 2 1 1 2 2 0 3 3 3 4
Profit before tax -3 -51 34 0 -39 3 -1 -1 2 7 14 27 25
Tax % -1% -0% 0% 0% -0% 0% -0% -0% 0% 0% 0% 0%
Net Profit -3 -51 34 0 -39 3 -1 -1 2 7 14 27 25
EPS in Rs 0.00 0.00 12.54 0.18 0.00 1.16 0.00 0.00 0.93 2.82 5.36 9.25
Dividend Payout % -0% -0% 0% 0% -0% 0% -0% -0% 0% 0% 0% 5%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:20.43%
5 Years:32.12%
3 Years:44.50%
TTM:-0.99%
Compounded Profit Growth
10 Years:%
5 Years:238.44%
3 Years:135.49%
TTM:4.52%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
TTM:28.23%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Dec 2006 Dec 2007 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
11 11 11 11 11 11 11 11 11 13 13 29
Reserves -31 -83 -48 -48 -87 -84 -85 -86 -84 -73 61 86
Borrowings 111 109 94 94 131 131 132 123 122 104 0 0
1 1 1 2 7 21 22 23 24 18 18 38
Total Liabilities 93 38 58 60 62 79 79 72 73 62 92 153
74 25 45 44 43 57 56 54 54 41 39 84
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 1 0 0 0 0 0 0 0 0 0 0 1
18 13 13 16 19 21 24 18 18 21 53 68
Total Assets 93 38 58 60 62 79 79 72 73 62 92 153

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Dec 2006 Dec 2007 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
2 1 19 2 3 4 -2 5 1 6 5 16
-0 -0 -1 -0 -1 -0 -0 4 1 13 -6 -47
-1 -2 -16 -0 -6 -1 1 -9 -0 -17 16 14
Net Cash Flow 1 -0 2 2 -4 3 -2 -0 2 2 15 -17

Ratios Standalone / View Consolidated

Dec 2006 Dec 2007 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % -3% -0% 74% 1% 2% 5% 1% -1% 5% 10% 25% 28%
Debtor Days 24 12 18 36 5 27 15 24 17 31 47 71
Inventory Turnover 2.82 3.08 4.70 4.60 6.06 6.85 7.45 7.88 8.55 7.77 11.62 15.96