South India Paper Mills Ltd

About [ edit ]

South India Paper Mills is primarily engaged in the business of manufacture of Paper, Paperboards, Cartons and Power Generation.

  • Market Cap 118 Cr.
  • Current Price 78.9
  • High / Low 103 / 32.6
  • Stock P/E 7.95
  • Book Value 118
  • Dividend Yield 1.90 %
  • ROCE 12.6 %
  • ROE 9.80 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.67 times its book value
  • Company has been maintaining a healthy dividend payout of 61.42%
  • Debtor days have improved from 71.36 to 49.81 days.

Cons

  • The company has delivered a poor sales growth of 3.23% over past five years.
  • Company has a low return on equity of 7.51% for last 3 years.

Peer comparison

Sector: Paper Industry: Paper

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
56.09 60.76 61.13 63.01 57.60 61.08 54.06 56.13 46.55 34.63 57.51 63.60
49.22 51.41 51.69 53.11 49.93 52.04 44.36 46.91 39.88 28.19 47.68 53.55
Operating Profit 6.87 9.35 9.44 9.90 7.67 9.04 9.70 9.22 6.67 6.44 9.83 10.05
OPM % 12.25% 15.39% 15.44% 15.71% 13.32% 14.80% 17.94% 16.43% 14.33% 18.60% 17.09% 15.80%
Other Income 0.12 0.17 0.26 0.14 0.24 0.14 0.13 0.21 0.11 0.14 3.14 0.10
Interest 1.05 1.20 1.17 1.04 1.05 1.07 1.12 0.98 0.95 1.08 0.98 1.05
Depreciation 1.79 2.34 2.35 2.43 2.38 2.40 2.41 2.43 2.53 2.40 2.41 2.45
Profit before tax 4.15 5.98 6.18 6.57 4.48 5.71 6.30 6.02 3.30 3.10 9.58 6.65
Tax % 22.65% 21.57% 21.84% 21.46% 17.86% 21.54% 36.03% 29.40% 3.64% 29.03% 26.93% 29.02%
Net Profit 3.21 4.69 4.83 5.16 3.68 4.48 4.03 4.25 3.19 2.20 7.00 4.73
EPS in Rs 2.14 3.13 3.22 3.44 2.45 2.99 2.69 2.83 2.13 1.47 4.67 3.15
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
124 127 165 170 168 142 185 206 195 134 241 216 202
108 102 140 147 141 128 155 170 164 122 204 182 169
Operating Profit 16 25 25 23 27 15 29 36 31 13 37 35 33
OPM % 13% 20% 15% 13% 16% 10% 16% 17% 16% 9% 15% 16% 16%
Other Income 1 0 1 6 1 1 1 9 1 2 1 1 3
Interest 2 2 2 3 2 2 2 2 4 5 5 4 4
Depreciation 4 5 5 6 7 7 8 8 10 9 10 10 10
Profit before tax 11 18 19 20 18 6 21 35 18 1 23 21 23
Tax % 22% 25% 26% 23% 26% 32% 35% 31% 34% -19% 21% 25%
Net Profit 8 14 14 15 14 4 14 24 12 1 18 16 17
EPS in Rs 9.25 10.27 9.10 2.59 9.02 16.06 7.97 0.63 12.25 10.63 11.42
Dividend Payout % 27% 16% 22% 21% 24% 58% 28% 19% 19% 158% 12% 14%
Compounded Sales Growth
10 Years:6%
5 Years:3%
3 Years:4%
TTM:-12%
Compounded Profit Growth
10 Years:1%
5 Years:3%
3 Years:10%
TTM:-9%
Stock Price CAGR
10 Years:6%
5 Years:-3%
3 Years:-14%
1 Year:34%
Return on Equity
10 Years:11%
5 Years:9%
3 Years:8%
Last Year:10%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
8 8 15 15 15 15 15 15 15 15 15 15 15
Reserves 48 59 62 74 84 85 93 112 126 125 141 154 161
Borrowings 26 18 21 14 13 15 17 34 45 53 38 42 33
25 26 29 32 30 38 37 55 44 42 45 42 49
Total Liabilities 106 111 127 135 141 153 162 216 230 235 239 253 258
61 61 65 79 77 80 79 114 136 130 132 128 123
CWIP 1 1 2 0 1 3 2 16 11 15 8 15 37
Investments 1 1 1 0 0 0 0 0 0 0 0 0 0
44 49 59 56 63 69 82 86 83 90 99 110 98
Total Assets 106 111 127 135 141 153 162 216 230 235 239 253 258

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
7 18 14 22 16 11 15 30 26 -2 39 42
-10 -7 -10 -12 -8 -12 -7 -44 -29 1 -12 -33
4 -10 -2 -12 -7 -0 -4 12 3 -2 -21 -3
Net Cash Flow 0 1 2 -3 2 -1 3 -2 1 -2 5 6

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 17% 25% 23% 19% 19% 7% 19% 20% 13% 2% 14% 13%
Debtor Days 62 48 41 43 43 69 60 64 56 104 60 50
Inventory Turnover 7.51 5.43 5.82 5.26 4.59 3.74 4.15 4.45 4.46 2.86 4.33 3.74

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
43.25 43.15 42.99 41.93 41.88 41.88 41.88 41.88 41.85 41.85 41.85 41.90
0.13 0.11 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1.76 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75
54.86 54.99 55.15 56.32 56.37 56.37 56.36 56.36 56.39 56.39 56.39 56.34

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