Patspin India Ltd

Patspin India Ltd

₹ 13.3 1.84%
18 Jun - close price
About

Incorporated in 1991, Patspin India Ltd manufactures and exports of cotton yarn in medium, fine and superfine combed yarns

Key Points

Business Overview:[1]
Company is part of Kerala based GTN group which deals in spinning yarn, knitting, processing and garmenting. Primary business activity of PIL is production and sale of cotton yarn (counts ranging from 20s to 100s). In addition to this, PIL is also engaged in valueadding activities like TFO (Two-For-One) twisting and gassing of textile yarn

  • Market Cap 41.1 Cr.
  • Current Price 13.3
  • High / Low 18.6 / 10.2
  • Stock P/E
  • Book Value -7.72
  • Dividend Yield 0.00 %
  • ROCE -2.10 %
  • ROE %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -39.7% over past five years.
  • Promoters have pledged 36.3% of their holding.
  • Earnings include an other income of Rs.7.88 Cr.

* 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: Textiles Industry: Textiles - Cotton/Blended

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
44.39 31.96 42.57 36.04 32.76 30.01 13.54 8.64 22.69 13.45 10.75 10.03 9.61
42.79 29.07 35.19 28.88 30.82 29.23 16.77 11.81 25.15 14.91 11.01 11.20 10.57
Operating Profit 1.60 2.89 7.38 7.16 1.94 0.78 -3.23 -3.17 -2.46 -1.46 -0.26 -1.17 -0.96
OPM % 3.60% 9.04% 17.34% 19.87% 5.92% 2.60% -23.86% -36.69% -10.84% -10.86% -2.42% -11.67% -9.99%
0.11 0.03 0.07 0.07 0.06 0.03 0.18 8.89 -1.50 0.10 0.05 2.39 5.34
Interest 6.55 5.71 6.10 6.23 4.80 3.83 3.85 1.80 1.04 1.74 2.03 2.19 1.58
Depreciation 2.51 2.53 2.55 2.55 2.50 2.52 2.54 1.30 0.79 0.77 0.88 0.76 0.73
Profit before tax -7.35 -5.32 -1.20 -1.55 -5.30 -5.54 -9.44 2.62 -5.79 -3.87 -3.12 -1.73 2.07
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% 0.00%
-7.35 -5.32 -1.20 -1.55 -5.30 -5.54 -9.44 2.62 -5.79 -3.87 -3.12 -1.73 2.07
EPS in Rs -2.38 -1.72 -0.39 -0.50 -1.71 -1.79 -3.05 0.85 -1.87 -1.25 -1.01 -0.56 0.67
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
461.97 609.61 554.42 496.30 531.54 522.84 548.51 393.05 148.10 143.32 74.87 43.84
436.68 551.05 520.53 447.79 477.55 492.29 514.50 393.93 152.30 123.96 82.95 47.69
Operating Profit 25.29 58.56 33.89 48.51 53.99 30.55 34.01 -0.88 -4.20 19.36 -8.08 -3.85
OPM % 5.47% 9.61% 6.11% 9.77% 10.16% 5.84% 6.20% -0.22% -2.84% 13.51% -10.79% -8.78%
0.83 0.64 1.15 1.02 5.79 10.29 2.50 2.39 0.37 0.24 7.60 7.88
Interest 29.04 34.64 30.83 36.77 34.76 33.08 29.23 27.33 23.92 22.84 10.52 7.54
Depreciation 20.32 18.99 12.43 12.19 11.89 10.44 10.33 10.35 10.21 10.14 7.15 3.14
Profit before tax -23.24 5.57 -8.22 0.57 13.13 -2.68 -3.05 -36.17 -37.96 -13.38 -18.15 -6.65
Tax % 31.93% 23.70% 21.29% -36.84% 23.76% -61.94% 22.62% 33.59% 0.00% 0.00% 0.00% 0.00%
-15.82 4.25 -6.48 0.78 10.01 -4.35 -2.36 -24.02 -37.96 -13.38 -18.15 -6.65
EPS in Rs -5.12 1.37 -2.10 0.25 3.24 -1.41 -0.76 -7.77 -12.28 -4.33 -5.87 -2.15
Dividend Payout % 0.00% 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: -23%
5 Years: -40%
3 Years: -33%
TTM: -41%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 21%
TTM: 65%
Stock Price CAGR
10 Years: 3%
5 Years: 10%
3 Years: 21%
1 Year: 14%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 30.92 30.92 30.92 30.92 30.92 30.92 30.92 30.92 30.92 30.92 30.92 30.92
Reserves -23.03 -20.12 -26.73 -25.95 35.87 30.74 27.34 2.65 -37.39 -49.01 -68.71 -54.78
Preference Capital 17.81 20.51 20.51 20.51 0.00 13.26 14.22 15.98 17.95 18.45 20.51
301.72 301.50 259.06 228.79 246.85 193.64 166.61 132.36 146.01 144.94 76.68 73.35
76.54 79.40 84.71 88.40 68.08 102.60 123.15 104.49 88.31 79.52 58.81 38.91
Total Liabilities 386.15 391.70 347.96 322.16 381.72 357.90 348.02 270.42 227.85 206.37 97.70 88.40
207.52 195.95 191.01 184.85 227.35 211.95 200.16 190.41 177.62 167.48 68.59 64.56
CWIP 5.25 0.00 4.30 0.10 0.11 0.23 0.08 0.05 0.05 0.05 0.05 0.00
Investments 0.31 1.85 3.70 1.57 0.58 0.71 0.18 0.18 0.17 0.09 0.00 0.00
173.07 193.90 148.95 135.64 153.68 145.01 147.60 79.78 50.01 38.75 29.06 23.84
Total Assets 386.15 391.70 347.96 322.16 381.72 357.90 348.02 270.42 227.85 206.37 97.70 88.40

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
31.07 35.34 75.16 65.21 47.13 47.73 37.55 51.18 -0.99 -0.92 6.19 7.29
-11.49 -2.11 -11.75 0.46 11.59 7.19 2.80 2.18 0.67 -0.18 91.78 3.28
-21.21 -30.32 -67.42 -62.37 -59.32 -57.48 -38.74 -54.94 1.14 -0.61 -97.22 -11.22
Net Cash Flow -1.63 2.91 -4.01 3.30 -0.59 -2.56 1.61 -1.58 0.81 -1.71 0.75 -0.65

Ratios

Figures in Rs. Crores

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 37.02 18.79 12.88 10.98 29.03 30.43 38.54 22.77 26.12 20.93 9.02 0.50
Inventory Days 83.32 92.84 70.55 81.96 85.79 75.24 61.60 32.81 66.37 79.17 49.75 4.81
Days Payable 46.65 39.83 50.27 62.90 56.62 79.63 95.19 100.33 198.41 227.79 281.20 989.77
Cash Conversion Cycle 73.68 71.79 33.16 30.03 58.20 26.04 4.95 -44.76 -105.91 -127.69 -222.43 -984.46
Working Capital Days 47.84 45.07 15.73 2.48 42.31 30.09 18.24 -24.01 -86.75 -93.21 -133.77 -225.29
ROCE % 1.79% 12.30% 7.34% 13.96% 15.17% 7.19% 10.32% -4.21% -8.27% 6.25% -14.58%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00%
0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02% 0.02%
34.99% 34.99% 34.99% 34.99% 34.99% 34.99% 34.99% 34.98% 34.99% 34.98% 34.99% 34.99%
No. of Shareholders 14,56214,57214,68414,66214,56614,24214,02813,93613,92213,76013,81813,830

* 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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