Garware Marine Industries Ltd

Garware Marine Industries Ltd

₹ 10.6 4.33%
28 Mar - close price
About

Incorporated in 1975, Garware Marine Industries Ltd is engaged in the business of repair of vessels.

Key Points

Business Overview:[1]
Company was in the business of manufacturing and marketing of fishing nets made from Nylon Yarn. However, as a result of a severe and long downturn in the Industry, company suspended all manufacturing activity in 2013 and decided to concentrate its efforts on the Ship repair division. Subsequently, company now carries out ship repairs for a few Shipowners and for other workshops.

  • Market Cap 6.12 Cr.
  • Current Price 10.6
  • High / Low 14.3 / 5.46
  • Stock P/E
  • Book Value 17.6
  • Dividend Yield 0.00 %
  • ROCE 1.26 %
  • ROE 1.26 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 0.60 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 1.19% over past five years.
  • Promoter holding is low: 37.7%
  • Company has a low return on equity of 1.15% over last 3 years.
  • Company has high debtors of 1,373 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Ship Building Industry: Miscellaneous

Loading peers table ...

Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
0.25 0.29 0.38 0.46 0.47 0.27 0.32 0.37 0.35 0.19 0.20 0.16 0.15
0.25 0.44 0.21 0.28 0.80 0.28 0.22 0.33 0.31 0.25 0.20 0.18 0.18
Operating Profit 0.00 -0.15 0.17 0.18 -0.33 -0.01 0.10 0.04 0.04 -0.06 0.00 -0.02 -0.03
OPM % 0.00% -51.72% 44.74% 39.13% -70.21% -3.70% 31.25% 10.81% 11.43% -31.58% 0.00% -12.50% -20.00%
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.05
Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit before tax 0.00 -0.15 0.17 0.18 -0.33 -0.01 0.10 0.04 0.04 -0.06 0.00 -0.02 0.02
Tax % 46.67% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00 -0.08 0.17 0.18 -0.33 -0.01 0.10 0.04 0.04 -0.06 0.00 -0.02 0.02
EPS in Rs 0.00 -0.14 0.29 0.31 -0.57 -0.02 0.17 0.07 0.07 -0.10 0.00 -0.03 0.03
Raw PDF

Profit & Loss

Figures in Rs. Crores

Jun 2012 Jun 2013 Jun 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
11.10 9.33 1.60 0.93 1.16 0.88 1.15 1.25 1.12 1.30 1.58 1.22 0.70
10.63 9.51 8.97 1.70 1.88 1.54 0.95 1.02 1.04 1.15 1.57 1.10 0.81
Operating Profit 0.47 -0.18 -7.37 -0.77 -0.72 -0.66 0.20 0.23 0.08 0.15 0.01 0.12 -0.11
OPM % 4.23% -1.93% -460.62% -82.80% -62.07% -75.00% 17.39% 18.40% 7.14% 11.54% 0.63% 9.84% -15.71%
0.35 0.52 4.07 0.20 0.81 0.28 0.14 0.02 0.02 0.01 0.01 0.00 0.05
Interest 0.22 0.13 0.10 0.04 0.06 0.05 0.03 0.02 0.01 0.01 0.00 0.00 0.00
Depreciation 0.37 0.34 0.02 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit before tax 0.23 -0.13 -3.42 -0.62 0.03 -0.43 0.31 0.23 0.09 0.15 0.02 0.12 -0.06
Tax % 0.00% 0.00% 3.80% -22.58% 66.67% -18.60% 90.32% 4.35% 11.11% 6.67% 0.00% 0.00%
0.23 -0.13 -3.29 -0.76 0.00 -0.51 0.03 0.22 0.08 0.14 0.01 0.12 -0.06
EPS in Rs 0.40 -0.23 -5.71 -1.32 0.00 -0.88 0.05 0.38 0.14 0.24 0.02 0.21 -0.10
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: -20%
5 Years: 1%
3 Years: 3%
TTM: -47%
Compounded Profit Growth
10 Years: -6%
5 Years: 32%
3 Years: 14%
TTM: -135%
Stock Price CAGR
10 Years: -2%
5 Years: 30%
3 Years: 32%
1 Year: 85%
Return on Equity
10 Years: -2%
5 Years: 2%
3 Years: 1%
Last Year: 1%

Balance Sheet

Figures in Rs. Crores

Jun 2012 Jun 2013 Jun 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 5.77 5.77 5.77 5.77 5.77 5.77 5.77 5.77 5.77 5.77 5.77 5.77 5.77
Reserves 4.05 3.92 0.63 -0.13 -0.13 -0.64 1.73 0.50 -0.72 -0.02 5.42 2.14 4.41
0.03 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.91 3.17 1.48 0.91 0.60 0.63 0.92 0.84 0.69 0.70 0.29 0.31 0.35
Total Liabilities 13.76 12.87 7.88 6.55 6.24 5.76 8.42 7.11 5.74 6.45 11.48 8.22 10.53
3.89 3.95 0.04 0.02 0.02 0.01 0.02 0.02 0.01 0.01 0.02 0.02 0.02
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.90 0.90 0.90 0.90 0.89 0.84 3.09 1.64 0.38 0.93 6.54 2.95 5.28
8.97 8.02 6.94 5.63 5.33 4.91 5.31 5.45 5.35 5.51 4.92 5.25 5.23
Total Assets 13.76 12.87 7.88 6.55 6.24 5.76 8.42 7.11 5.74 6.45 11.48 8.22 10.53

Cash Flows

Figures in Rs. Crores

Jun 2012 Jun 2013 Jun 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0.43 0.14 -6.18 -0.49 -0.43 -0.42 -0.18 0.26 -0.01 0.22 0.10 -0.08
-0.17 -0.39 6.54 0.01 0.65 0.15 0.04 0.20 0.02 0.01 0.00 0.00
-0.30 0.28 0.00 0.10 -0.07 -0.05 0.23 -0.14 -0.14 -0.02 -0.50 0.00
Net Cash Flow -0.04 0.03 0.36 -0.38 0.16 -0.32 0.09 0.32 -0.14 0.21 -0.41 -0.08

Ratios

Figures in Rs. Crores

Jun 2012 Jun 2013 Jun 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 143.70 187.39 736.84 1,310.86 1,135.91 1,650.80 1,333.04 1,302.32 1,463.26 1,238.19 995.66 1,373.24
Inventory Days 147.44 85.40 831.86 0.00
Days Payable 38.67 49.34 432.91
Cash Conversion Cycle 252.48 223.45 1,135.80 1,310.86 1,135.91 1,650.80 1,333.04 1,302.32 1,463.26 1,238.19 995.66 1,373.24
Working Capital Days 155.86 176.05 1,033.41 1,668.01 1,315.26 1,899.66 1,488.57 1,351.96 1,518.66 1,285.92 1,030.32 1,388.20
ROCE % 4.63% 0.00% -88.32% -6.39% -9.04% -9.66% 3.48% 3.63% 1.77% 2.96% 0.24% 1.26%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
37.72% 37.72% 37.72% 37.72% 37.72% 37.72% 37.72% 37.72% 37.72% 37.72% 37.72% 37.72%
2.43% 2.43% 2.43% 2.43% 2.43% 2.43% 2.43% 2.43% 2.43% 2.43% 2.43% 2.43%
59.85% 59.85% 59.85% 59.85% 59.85% 59.85% 59.84% 59.85% 59.84% 59.84% 59.84% 59.84%
No. of Shareholders 6,3146,3756,4576,7476,8056,7586,7196,7756,7866,7626,8436,818

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents