Binny Ltd

₹ 141 -2.79%

08 Jul 2024

binnyltd.in BSE: 514215

About

Incorporated in 1969, Binny Ltd is in the business of real estate development^[1]

Key Points

Business Segments:^[1]
a) Real Estate business
b) Distillery

Website BSE

Market Cap ₹ 315 Cr.
Current Price ₹ 141
High / Low ₹ /
Stock P/E
Book Value ₹ 183
Dividend Yield 0.00 %
ROCE -6.38 %
ROE -5.94 %
Face Value ₹ 5.00

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.77 times its book value

Cons

Company has low interest coverage ratio.
Company has a low return on equity of 5.89% over last 3 years.
Contingent liabilities of Rs.378 Cr.
Company's cost of borrowing seems high
Promoter holding has decreased over last 3 years: -18.5%

* 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

Consumer Discretionary Realty Realty Residential, Commercial Projects

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	37.13	27.66	48.63	40.72	32.22	25.24	51.34	58.23	23.79	-70.32	19.47	8.37	12.02
	6.45	5.51	7.71	6.94	6.56	22.81	11.12	21.10	17.53	53.64	5.94	6.13	2.13
Operating Profit	30.68	22.15	40.92	33.78	25.66	2.43	40.22	37.13	6.26	-123.96	13.53	2.24	9.89
OPM %	82.63%	80.08%	84.15%	82.96%	79.64%	9.63%	78.34%	63.76%	26.31%		69.49%	26.76%	82.28%
	0.03	0.03	0.00	0.00	0.03	7.57	0.11	2.80	0.12	11.41	3.02	0.01	0.12
Interest	3.42	2.47	2.05	2.90	1.50	1.09	0.95	0.64	0.43	-1.70	0.01	0.05	0.03
Depreciation	0.01	0.08	0.08	0.08	0.09	4.03	7.27	0.20	7.34	-13.89	0.10	0.21	0.14
Profit before tax	27.28	19.63	38.79	30.80	24.10	4.88	32.11	39.09	-1.39	-96.96	16.44	1.99	9.84
Tax %	24.56%	50.43%	24.83%	26.72%	27.68%	300.00%	39.08%	52.14%	312.23%	-41.43%	74.15%	-23.12%	1.32%
	20.58	9.72	29.15	22.57	17.42	-9.77	19.56	18.72	-5.73	-56.78	4.25	2.44	9.71
EPS in Rs	9.23	4.36	13.07	10.12	7.81	-4.38	8.77	8.39	-2.57	-25.46	1.91	1.09	4.35
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	8	9	7	0	455	46	0	41	29	74	145	63	-30
	3	8	3	5	31	5	5	7	10	15	45	103	68
Operating Profit	4	1	4	-5	424	41	-4	34	19	59	99	-40	-98
OPM %	56%	14%	61%	-10,760%	93%	90%	-1,189%	83%	65%	79%	69%	-63%	323%
	1	-39	1	2	13	15	42	42	42	10	10	14	15
Interest	0	22	2	5	22	23	46	38	28	16	6	0	-2
Depreciation	0	0	1	0	0	0	0	0	0	0	4	1	-13
Profit before tax	5	-61	2	-9	415	34	-9	38	33	53	99	-27	-69
Tax %	15%	0%	19%	0%	33%	80%	73%	147%	38%	37%	40%	-10%
	4	-61	2	-9	279	7	-15	-18	20	33	59	-24	-40
EPS in Rs	1.97	-27.16	0.88	-3.91	125.21	2.93	-6.74	-7.99	9.09	15.01	26.63	-10.87	-18.11
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	21%
5 Years:	181%
3 Years:	29%
TTM:	-119%

Compounded Profit Growth
10 Years:	-2%
5 Years:	-18%
3 Years:	%
TTM:	-277%

Stock Price CAGR
10 Years:	6%
5 Years:	4%
3 Years:	-19%
1 Year:	%

Return on Equity
10 Years:	12%
5 Years:	4%
3 Years:	6%
Last Year:	-6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	11	11	11	11	11	11	11	11	11	11	11	11	11
Reserves	165	104	106	97	269	312	319	301	322	355	414	390	397
	158	119	138	138	214	360	331	339	266	1	20	1	1
	30	78	269	490	403	324	424	493	574	528	499	449	443
Total Liabilities	364	313	524	737	897	1,006	1,086	1,144	1,173	895	944	851	852
	300	300	3	2	2	2	2	2	1	2	33	3	2
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	29	0	0	0	2	0	0	0	1	1	1	0	0
	35	12	520	735	894	1,005	1,084	1,142	1,171	892	911	848	849
Total Assets	364	313	524	737	897	1,006	1,086	1,144	1,173	895	944	851	852

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-3	58	-10	11	10	-129	-171	29	16	316	74	13
	0	3	-0	-1	0	3	46	0	-0	-1	-35	-0
	2	-63	13	-12	-10	127	127	-31	-14	-315	-33	-19
Net Cash Flow	-1	-2	2	-2	-0	1	2	-2	2	-1	6	-6
Free Cash Flow	-3	58	-10	10	9	-129	-171	29	16	315	39	12
CFO/OP	-60%	4,465%	-226%	-220%	2%	8%	907%	145%	206%	553%	95%	-34%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	65	46	21	3,066	0	6	1,115	16	13	4	0	0
Inventory Days									32,749	15,225	13,683	18,898
Days Payable									81	23	0	0
Cash Conversion Cycle	65	46	21	3,066	0	6	1,115	16	32,680	15,206	13,683	18,898
Working Capital Days	193	73	-191	2,545,875	194	2,979	652,955	5,656	8,578	3,290	948	2,150
ROCE %	1%	0%	2%	-2%	118%	10%	6%	12%	10%	14%	26%	-6%

Insights

In beta

Mar 2013

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Land Bank Size (Perambur)
Acres

	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
			x	x	x	x	x	xx	xx	xx
xxx	xxx	x	x	x
		x.xx							xxx.xx	xx.xx
							xxx	xxx	xxx
							xx	xx
							xx	xxx

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Distillery Production Capacity
KLPD

Warehousing Capacity (Godowns)
Number

Additional Land Bank (Acquired/Agreement)
Acres

School Admissions (The Shriram Universal School)
Number

Residential Phase 1 Sales Progress
Percentage

SPR City Residential Tower Completion (Civil Structure)
Percentage

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	74.69%	74.68%	74.68%	74.68%	56.20%	56.20%	56.20%	56.20%	56.20%	56.20%	56.20%	56.20%
	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%
	0.58%	0.51%	0.34%	0.33%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%
	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%
	23.03%	23.10%	23.28%	23.27%	41.78%	41.79%	41.78%	41.79%	41.79%	41.79%	41.79%	41.79%
No. of Shareholders	11,355	11,476	11,563	11,930	11,928	11,567	11,664	11,640	11,720	11,749	11,750	11,750

	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	74.69%	74.69%	74.69%	74.69%	74.69%	74.69%	74.69%	74.68%	56.20%	56.20%	56.20%
	0.00%	0.00%	0.09%	0.08%	0.08%	0.08%	0.00%	0.04%	0.04%	0.04%	0.04%
	8.08%	3.73%	2.08%	2.08%	1.98%	1.71%	1.68%	0.51%	0.31%	0.31%	0.31%
	0.00%	0.00%	1.65%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%	1.66%
	17.23%	21.58%	21.49%	21.50%	21.60%	21.87%	21.98%	23.10%	41.79%	41.79%	41.79%
No. of Shareholders	9,372	9,826	10,203	10,035	9,920	10,211	10,723	11,476	11,567	11,720	11,750

* 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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Binny Ltd

Binny Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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