Suryalata Spinning Mills Ltd

Suryalata Spinning Mills Ltd

₹ 355 -0.45%
28 Mar - close price
About

Incorporated in 1983, Suryalata Spinning
Mills Ltd manufactures Synthetic Yarns
suitable for suiting, shirting and knitting[1]

Key Points

Business Overview:[1][2]
SSML is an ISO 9001:2015 certified
organization which is in the business
of developing, manufacturing, marketing
of yarn products viz. Synthetic Ring Spun Yarns for Knitting, Weaving, and technical applications. It also produces Specialized Yarns like Slub Yarns, Fancy Yarns, and Micro Yarns as per market requirement

  • Market Cap 152 Cr.
  • Current Price 355
  • High / Low 1,635 / 349
  • Stock P/E 10.6
  • Book Value 546
  • Dividend Yield 0.84 %
  • ROCE 17.1 %
  • ROE 14.8 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.65 times its book value
  • Company has delivered good profit growth of 31.4% CAGR over last 5 years
  • Company's working capital requirements have reduced from 48.6 days to 28.3 days

Cons

  • The company has delivered a poor sales growth of 7.76% over past five years.
  • Contingent liabilities of Rs.50.2 Cr.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 36.0% of their holding.

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
91.88 91.49 94.68 121.78 127.80 136.08 133.50 115.85 123.59 106.31 101.54 108.87 113.57
76.54 64.87 83.47 107.20 108.09 102.47 115.95 100.32 110.78 95.40 94.35 99.62 106.36
Operating Profit 15.34 26.62 11.21 14.58 19.71 33.61 17.55 15.53 12.81 10.91 7.19 9.25 7.21
OPM % 16.70% 29.10% 11.84% 11.97% 15.42% 24.70% 13.15% 13.41% 10.36% 10.26% 7.08% 8.50% 6.35%
0.16 0.40 0.24 0.24 0.28 0.93 0.24 1.18 0.75 1.67 1.04 0.06 1.16
Interest 2.99 3.58 2.64 1.92 1.91 2.32 1.71 1.27 1.30 1.01 1.39 1.59 2.12
Depreciation 2.98 2.71 2.75 2.80 2.98 2.90 2.96 3.17 3.06 2.88 2.91 3.08 3.54
Profit before tax 9.53 20.73 6.06 10.10 15.10 29.32 13.12 12.27 9.20 8.69 3.93 4.64 2.71
Tax % 28.02% 29.04% 29.21% 29.11% 29.14% 12.69% 25.15% 25.18% 25.22% 40.85% 25.19% 25.22% 25.09%
6.86 14.71 4.29 7.16 10.70 25.60 9.82 9.18 6.88 5.14 2.94 3.47 2.03
EPS in Rs 16.08 34.47 10.05 16.78 25.08 60.00 23.01 21.51 16.12 12.05 6.89 8.13 4.76
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
250 266 346 360 347 341 330 390 370 277 480 479 430
241 255 332 338 319 316 305 349 329 228 401 422 396
Operating Profit 9 11 14 22 29 25 25 41 41 48 79 57 35
OPM % 4% 4% 4% 6% 8% 7% 7% 10% 11% 17% 16% 12% 8%
11 17 21 16 3 5 2 1 1 1 2 4 4
Interest 7 9 12 11 9 8 7 10 11 11 9 5 6
Depreciation 6 7 9 9 8 8 8 8 11 11 11 12 12
Profit before tax 7 12 13 19 15 14 12 23 20 26 61 43 20
Tax % 36% 32% 34% 34% 34% 36% 36% 39% 29% 29% 21% 28%
4 8 9 13 10 9 8 14 14 19 48 31 14
EPS in Rs 11.54 22.06 24.13 29.65 22.52 20.69 18.49 33.35 33.07 43.99 111.91 72.72 31.83
Dividend Payout % 13% 7% 6% 6% 1% 7% 8% 5% 3% 5% 3% 4%
Compounded Sales Growth
10 Years: 6%
5 Years: 8%
3 Years: 9%
TTM: -15%
Compounded Profit Growth
10 Years: 14%
5 Years: 31%
3 Years: 30%
TTM: -72%
Stock Price CAGR
10 Years: 21%
5 Years: 21%
3 Years: 39%
1 Year: -35%
Return on Equity
10 Years: 15%
5 Years: 17%
3 Years: 19%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 4 4 4 4 4 4 4 4 4 4 4 4 4
Reserves 39 46 53 72 81 89 97 111 125 144 191 222 229
Preference Capital 7 7 7 2 5 0 5 5 5 4 4 4
84 129 108 114 87 86 64 121 96 79 73 65 96
33 46 62 41 43 38 45 50 46 50 53 49 48
Total Liabilities 160 224 227 230 215 217 210 287 271 277 321 340 378
89 141 134 139 134 132 128 203 196 188 200 194 247
CWIP 11 0 0 2 5 6 13 0 0 1 1 10 8
Investments 0 0 0 0 0 0 0 0 0 0 0 1 1
60 84 93 89 76 79 69 83 75 88 120 134 121
Total Assets 160 224 227 230 215 217 210 287 271 277 321 340 378

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
19 9 36 20 40 22 26 21 40 34 51 75
-8 -44 -3 -16 -8 -8 -6 -70 -3 -6 -34 -59
-12 35 -33 -5 -32 -13 -20 48 -37 -28 -15 -14
Net Cash Flow -1 0 0 -0 -0 0 -0 -0 0 -0 3 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 37 54 37 37 29 33 29 32 24 22 22 16
Inventory Days 28 32 31 31 29 33 30 35 41 114 48 29
Days Payable 15 6 11 5 6 5 7 4 5 6 3 2
Cash Conversion Cycle 50 80 58 63 52 61 53 62 61 131 67 43
Working Capital Days 48 52 31 41 33 37 35 41 37 75 43 28
ROCE % 10% 13% 14% 16% 13% 12% 11% 16% 13% 16% 28% 17%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
70.36% 70.36% 70.36% 70.36% 70.36% 70.36% 70.36% 70.36% 70.36% 70.36% 70.36% 70.36%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
29.62% 29.62% 29.62% 29.62% 29.62% 29.62% 29.62% 29.61% 29.62% 29.62% 29.61% 29.61%
No. of Shareholders 2,5152,5143,2333,0593,1063,2253,3113,3305,0137,3197,3777,015

* 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.

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