Asian Tea & Exports Ltd

₹ 12.7 -1.78%
31 Jan - close price
About

Incorporated in 1987, Asian Tea & Exports Limited is Kolkata based company promoted by Garg family and is engaged in trading/exporting of agro commodities including tea, rice, Sugar & pulses.
Converted into Public Limited company in 1994, it exports tea to countries like China, Russia, Vietnam Iran through its associate company Asian Tea Company Private Limited. [1]

Key Points

Leading House of Tea
Asian Tea & Exports is a leading house of Tea and is engaged in tea plantations, manufacturing, exporting and trading of Tea. It is recognised as Star Export House by the Government of India. [1]

  • Market Cap 25.3 Cr.
  • Current Price 12.7
  • High / Low 23.2 / 10.7
  • Stock P/E 5.65
  • Book Value 30.3
  • Dividend Yield 0.00 %
  • ROCE 7.62 %
  • ROE 5.72 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.42 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Company has a low return on equity of 7.35% over last 3 years.
  • Contingent liabilities of Rs.303 Cr.
  • Promoters have pledged 54.2% of their holding.
  • Earnings include an other income of Rs.5.06 Cr.
  • Company has high debtors of 156 days.
  • Working capital days have increased from 141 days to 246 days

* 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
34.29 63.69 10.35 10.92 17.74 21.90 67.52 16.34 10.63 9.65 44.92 6.74 10.55
33.19 62.75 6.92 12.16 18.56 19.33 66.19 15.52 11.15 8.04 43.37 6.74 10.83
Operating Profit 1.10 0.94 3.43 -1.24 -0.82 2.57 1.33 0.82 -0.52 1.61 1.55 0.00 -0.28
OPM % 3.21% 1.48% 33.14% -11.36% -4.62% 11.74% 1.97% 5.02% -4.89% 16.68% 3.45% 0.00% -2.65%
1.48 1.53 -2.14 1.87 3.57 0.41 -0.06 0.46 1.04 1.10 0.56 1.54 1.86
Interest 0.90 0.82 2.59 0.42 0.71 1.29 1.04 0.83 0.85 0.76 0.90 0.74 0.60
Depreciation 0.04 0.06 0.05 0.04 0.04 0.04 0.05 0.03 0.03 0.03 0.04 0.04 0.04
Profit before tax 1.64 1.59 -1.35 0.17 2.00 1.65 0.18 0.42 -0.36 1.92 1.17 0.76 0.94
Tax % 15.85% 5.03% -3.70% 0.00% 0.50% 9.09% 105.56% 9.52% 8.33% 0.52% 22.22% 2.63% 2.13%
Net Profit 1.38 1.52 -1.40 0.18 1.99 1.50 0.00 0.38 -0.33 1.91 0.91 0.74 0.92
EPS in Rs 0.69 0.76 -0.70 0.09 1.00 0.75 0.00 0.19 -0.16 0.96 0.46 0.37 0.46
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
136.32 121.48 144.02 59.49 30.19 29.45 20.12 10.59 152.83 236.35 118.06 81.55 71.86
132.79 116.78 137.07 58.79 29.45 29.90 19.75 10.89 150.05 228.70 116.21 78.09 68.98
Operating Profit 3.53 4.70 6.95 0.70 0.74 -0.45 0.37 -0.30 2.78 7.65 1.85 3.46 2.88
OPM % 2.59% 3.87% 4.83% 1.18% 2.45% -1.53% 1.84% -2.83% 1.82% 3.24% 1.57% 4.24% 4.01%
0.88 0.53 0.66 1.80 1.79 2.99 1.56 2.05 1.32 1.78 5.80 3.15 5.06
Interest 2.46 3.51 4.03 0.30 0.89 0.64 0.57 0.57 2.17 5.77 3.47 3.33 3.00
Depreciation 0.09 0.27 0.31 0.29 0.31 0.21 0.16 0.13 0.13 0.19 0.17 0.14 0.15
Profit before tax 1.86 1.45 3.27 1.91 1.33 1.69 1.20 1.05 1.80 3.47 4.01 3.14 4.79
Tax % 34.95% 33.79% 33.33% 15.71% 7.52% 3.55% -4.17% 12.38% 30.00% 20.17% 8.73% 8.60%
Net Profit 1.21 0.96 2.18 1.61 1.23 1.63 1.26 0.92 1.27 2.77 3.67 2.87 4.48
EPS in Rs 0.60 0.48 0.76 0.80 0.62 0.82 0.63 0.46 0.64 1.38 1.84 1.44 2.25
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: -4%
5 Years: 32%
3 Years: -19%
TTM: -38%
Compounded Profit Growth
10 Years: 12%
5 Years: 18%
3 Years: 31%
TTM: 189%
Stock Price CAGR
10 Years: 1%
5 Years: -1%
3 Years: 29%
1 Year: -43%
Return on Equity
10 Years: 5%
5 Years: 6%
3 Years: 7%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 20.00 20.00
Reserves 17.56 18.27 19.55 20.26 21.17 22.54 23.56 24.26 25.26 27.84 31.34 39.05 40.65
29.74 31.72 17.31 5.31 5.44 1.65 6.85 7.71 42.11 30.49 32.08 37.40 33.27
3.46 2.67 12.82 19.11 4.46 2.39 1.86 3.52 15.07 17.15 8.77 19.53 6.72
Total Liabilities 60.76 62.66 59.68 54.68 41.07 36.58 42.27 45.49 92.44 85.48 82.19 115.98 100.64
11.80 13.17 12.99 12.53 12.00 11.19 10.80 10.52 10.30 10.13 9.79 9.61 9.69
CWIP 0.48 0.00 2.40 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00
Investments 6.42 8.53 6.75 10.55 12.49 14.04 16.31 18.17 18.53 19.68 22.66 25.99 27.59
42.06 40.96 37.54 31.60 16.58 11.35 15.16 16.79 63.61 55.67 49.74 80.38 63.36
Total Assets 60.76 62.66 59.68 54.68 41.07 36.58 42.27 45.49 92.44 85.48 82.19 115.98 100.64

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-1.47 2.42 12.56 17.15 -0.89 2.83 -9.51 -3.25 -50.12 31.78 -2.96 -8.81
-0.59 -4.13 2.74 -4.25 -0.94 1.04 5.14 1.68 17.72 -15.03 5.49 -6.44
0.74 1.97 -14.47 -12.01 0.22 -3.73 4.63 0.28 32.24 -16.08 -1.87 17.01
Net Cash Flow -1.32 0.26 0.83 0.89 -1.62 0.14 0.26 -1.29 -0.16 0.67 0.66 1.75

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 56.25 59.04 54.08 119.27 48.00 29.13 59.14 156.82 29.28 21.05 33.42 156.20
Inventory Days 45.45 56.89 30.95 35.12 119.09 55.65 53.62 148.09 94.22 12.60 31.90 45.13
Days Payable 5.85 3.58 22.90 114.50 51.43 22.26 23.09 90.95 36.72 21.55 25.78 86.95
Cash Conversion Cycle 95.85 112.35 62.13 39.90 115.66 62.51 89.67 213.97 86.78 12.10 39.55 114.38
Working Capital Days 100.89 109.55 65.36 58.04 128.03 87.75 196.65 418.77 102.55 57.70 118.41 245.94
ROCE % 7.44% 8.44% 13.65% 5.31% 5.10% 3.93% 4.77% 3.88% 6.65% 12.68% 10.51% 7.62%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
65.68 65.68 65.68 65.68 65.68 65.68 66.44 72.42 66.76 66.76 66.75 66.75
0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.07 0.07 0.07 0.07 0.07
34.18 34.18 34.18 34.18 34.18 34.18 33.42 27.51 33.17 33.17 33.18 33.17

* 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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