Swasti Vinayaka Synthetics Ltd

Swasti Vinayaka Synthetics is engaged interalia, in the business of manufacturing of wide range of shirting fabrics comprising of cotton, linen, lycra, polyester, viscose and their blends.

Pros:
Stock is providing a good dividend yield of 3.44%.
Company has been maintaining a healthy dividend payout of 49.89%
Cons:
The company has delivered a poor growth of 3.70% over past five years.

Peer Comparison Sector: Trading // Industry: Trading

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Quarterly Results Figures in Rs. Crores

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
4.19 4.05 3.85 3.77 4.92 4.39 4.11 4.03 6.51 5.24 4.86 4.94
3.67 3.50 3.31 3.25 3.62 3.95 3.69 3.65 4.91 4.61 4.29 4.29
Operating Profit 0.52 0.55 0.54 0.52 1.30 0.44 0.42 0.38 1.60 0.63 0.57 0.65
OPM % 12.41% 13.58% 14.03% 13.79% 26.42% 10.02% 10.22% 9.43% 24.58% 12.02% 11.73% 13.16%
Other Income 0.04 0.00 0.00 0.00 0.01 0.14 0.16 0.25 0.03 0.03 0.16 0.15
Interest 0.13 0.07 0.07 0.06 0.08 0.04 0.02 0.05 0.11 0.05 0.07 0.06
Depreciation 0.13 0.12 0.12 0.12 0.13 0.12 0.12 0.12 0.12 0.10 0.10 0.10
Profit before tax 0.30 0.36 0.35 0.34 1.10 0.42 0.44 0.46 1.40 0.51 0.56 0.64
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 0.30 0.36 0.35 0.34 1.10 0.42 0.44 0.46 1.41 0.51 0.55 0.64
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Dec 2006 Dec 2007 Dec 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
13.94 15.22 16.55 20.00 15.88 16.16 16.10 15.59 16.06 16.09 16.52 19.31 21.55
12.68 12.78 14.63 19.36 14.37 14.80 14.34 14.12 14.29 13.75 13.68 16.21 18.10
Operating Profit 1.26 2.44 1.92 0.64 1.51 1.36 1.76 1.47 1.77 2.34 2.84 3.10 3.45
OPM % 9.04% 16.03% 11.60% 3.20% 9.51% 8.42% 10.93% 9.43% 11.02% 14.54% 17.19% 16.05% 16.01%
Other Income 0.09 0.17 0.31 0.43 0.16 0.22 0.03 0.02 0.40 0.08 0.08 0.32 0.37
Interest 0.20 0.90 0.69 0.87 0.61 0.43 0.25 0.18 0.28 0.41 0.28 0.22 0.29
Depreciation 0.50 0.62 0.67 0.86 0.44 0.36 0.36 0.34 0.69 0.66 0.49 0.47 0.42
Profit before tax 0.65 1.09 0.87 -0.66 0.62 0.79 1.18 0.97 1.20 1.35 2.15 2.73 3.11
Tax % 1.54% 0.92% 1.15% -50.00% 30.65% 20.25% 32.20% 50.52% 37.50% 34.07% 43.72% 24.54%
Net Profit 0.64 1.08 0.86 -0.99 0.43 0.63 0.80 0.47 0.75 0.88 1.21 2.06 3.11
EPS in Rs 0.08 0.14 0.11 0.00 0.05 0.08 0.11 0.06 0.09 0.11 0.17 0.29
Dividend Payout % 87.50% 64.81% 81.40% -35.35% 65.12% 55.56% 43.75% 89.36% 65.33% 63.64% 52.07% 33.98%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:2.41%
5 Years:3.70%
3 Years:6.34%
TTM:23.50%
Compounded Profit Growth
10 Years:3.02%
5 Years:20.82%
3 Years:40.05%
TTM:28.51%
Return on Equity
10 Years:8.50%
5 Years:13.19%
3 Years:16.41%
Last Year:22.66%

Balance Sheet Figures in Rs. Crores

Dec 2006 Dec 2007 Dec 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00
Reserves 1.90 2.16 2.20 0.79 0.90 1.12 0.69 0.67 0.83 1.04 1.48 2.70 4.58
Borrowings 5.34 8.97 9.05 8.47 5.35 2.13 1.56 0.84 2.42 0.80 1.45 1.84 0.67
2.35 1.92 2.93 3.88 6.19 5.85 5.56 5.06 6.45 7.30 8.19 10.36 10.39
Total Liabilities 16.59 20.05 21.18 20.14 19.44 16.10 14.81 13.57 16.70 16.14 18.12 21.90 22.64
7.38 7.71 7.71 6.90 6.72 6.50 5.80 4.87 5.60 4.97 4.80 4.29 4.56
CWIP 0.58 0.12 0.00 0.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.01 0.08 0.11 0.11 0.11 0.01 0.01 0.26 0.83 0.83 0.83 1.78 1.80
8.62 12.14 13.36 13.03 12.61 9.59 9.00 8.44 10.27 10.34 12.49 15.83 16.28
Total Assets 16.59 20.05 21.18 20.14 19.44 16.10 14.81 13.57 16.70 16.14 18.12 21.90 22.64

Cash Flows Figures in Rs. Crores

Dec 2006 Dec 2007 Dec 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
1.43 -1.63 1.89 1.85 1.95 3.94 1.34 2.75 2.71 3.22 3.30 3.43
-3.95 -0.06 -0.37 0.16 -0.08 0.04 0.30 -0.24 -2.02 -0.04 -0.31 -0.98
2.77 1.68 -1.43 -2.20 -1.83 -4.05 -1.65 -2.49 -0.72 -3.17 -2.77 -2.33
Net Cash Flow 0.25 -0.01 0.09 -0.19 0.04 -0.07 -0.01 0.02 -0.03 0.01 0.22 0.12

Ratios

Dec 2006 Dec 2007 Dec 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 6.75% 15.08% 8.63% 1.22% 8.20% 9.02% 14.67% 12.95% 15.78% 18.44% 25.89% 27.48%
Debtor Days 13.88 35.49 36.61 54.38 72.17 58.27 53.96 54.55 55.45 55.58 58.33 74.85
Inventory Turnover 2.54 2.40 2.27 2.93 2.66 3.34 4.36 5.01 5.09 4.53 4.10 3.86