Voith Paper Fabrics India Ltd

About [ edit ]

Voith Paper Fabrics India is primarily involved in the business of manufacturing and selling of paper machine clothing for pulp, paper and board industry.

  • Market Cap 527 Cr.
  • Current Price 1,200
  • High / Low 1,275 / 925
  • Stock P/E 19.5
  • Book Value 590
  • Dividend Yield 0.42 %
  • ROCE 14.5 %
  • ROE 11.0 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of 9.43% over past five years.
  • Company has a low return on equity of 11.19% for last 3 years.
  • Dividend payout has been low at 8.85% of profits over last 3 years

Peer comparison

Sector: Textiles Industry: Textiles - Products

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Quarterly Results

Figures in Rs. Crores

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
25.52 27.16 27.43 31.92 25.42 30.53 35.10 26.55 23.10 33.65 30.67 31.12
18.54 20.15 20.19 23.86 18.12 22.87 25.22 19.75 17.17 23.29 20.15 22.43
Operating Profit 6.98 7.01 7.24 8.06 7.30 7.66 9.88 6.80 5.93 10.36 10.52 8.69
OPM % 27.35% 25.81% 26.39% 25.25% 28.72% 25.09% 28.15% 25.61% 25.67% 30.79% 34.30% 27.92%
Other Income 2.20 2.21 2.05 2.29 2.45 1.47 2.11 2.29 2.12 2.10 1.99 1.60
Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 1.43 1.43 1.38 1.32 1.46 1.55 1.68 1.91 1.93 1.87 1.85 1.86
Profit before tax 7.75 7.79 7.91 9.03 8.29 7.58 10.31 7.18 6.12 10.59 10.66 8.43
Tax % 29.29% 27.98% 26.68% 31.12% 29.19% 23.48% 26.29% 26.74% 25.65% 24.93% 25.05% 21.83%
Net Profit 5.48 5.60 5.80 6.21 5.88 5.80 7.61 5.26 4.55 7.94 7.99 6.59
EPS in Rs 12.48 12.75 13.20 14.14 13.39 13.20 17.32 11.97 10.36 18.08 18.19 15.00

Profit & Loss

Figures in Rs. Crores

Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
47 51 54 58 59 102 76 82 94 112 118 119
37 40 42 45 46 77 55 56 69 83 86 83
Operating Profit 10 11 12 13 14 25 21 25 25 29 32 36
OPM % 21% 22% 22% 22% 23% 24% 27% 31% 26% 26% 27% 30%
Other Income 4 4 7 9 8 14 8 8 9 9 8 8
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 3 3 3 3 3 6 5 6 6 6 7 8
Profit before tax 11 13 17 19 19 33 24 27 28 32 33 36
Tax % 36% 33% 30% 30% 34% 35% 34% 35% 34% 29% 26% 24%
Net Profit 7 9 12 13 13 21 15 18 18 23 25 27
EPS in Rs 16.19 19.51 26.25 29.64 29.28 48.67 35.22 40.25 41.25 52.59 55.87 61.63
Dividend Payout % 25% 15% 11% 10% 10% 9% 11% 10% 22% 10% 9% 8%
Compounded Sales Growth
10 Years:9%
5 Years:9%
3 Years:8%
TTM:1%
Compounded Profit Growth
10 Years:12%
5 Years:12%
3 Years:14%
TTM:8%
Stock Price CAGR
10 Years:18%
5 Years:16%
3 Years:16%
1 Year:23%
Return on Equity
10 Years:11%
5 Years:11%
3 Years:11%
Last Year:11%

Balance Sheet

Figures in Rs. Crores

Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
4 4 4 4 4 4 4 4 4 4 4 4
Reserves 84 91 101 113 124 143 156 173 190 208 230 255
Borrowings 0 0 0 0 0 0 0 0 0 0 0 0
10 13 14 15 18 19 18 16 20 24 23 24
Total Liabilities 99 108 119 132 146 166 179 194 214 236 257 284
27 25 23 21 19 35 46 42 37 50 68 65
CWIP 0 0 0 10 17 8 1 1 10 23 12 12
Investments 0 0 0 0 0 0 0 0 0 0 0 0
72 84 96 100 111 123 131 151 167 163 178 207
Total Assets 99 108 119 132 146 166 179 194 214 236 257 284

Cash Flows

Figures in Rs. Crores

Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
3 10 14 9 6 16 11 15 23 17 20 28
-1 -9 -12 -7 45 -47 -25 -11 -19 -5 -24 -27
-2 -2 -2 -2 -2 -2 -2 -2 -2 -5 -3 -2
Net Cash Flow -0 -1 0 1 50 -32 -16 1 2 7 -6 -1

Ratios

Figures in Rs. Crores

Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 13% 14% 17% 16% 16% 24% 15% 16% 15% 16% 15% 15%
Debtor Days 77 73 74 78 101 60 92 91 69 56 54 60
Inventory Turnover 1.29 1.52 1.82 2.04 2.38 3.95 2.47 2.62 3.87 4.26 3.04 2.09

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
74.04 74.04 74.04 74.04 74.04 74.04 74.04 74.04 74.04 74.04 74.04 74.04
0.00 0.00 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1.19 1.19 1.18 1.19 1.19 1.20 1.19 1.19 1.19 1.19 1.19 1.18
24.77 24.77 24.71 24.77 24.77 24.76 24.77 24.77 24.77 24.77 24.77 24.77

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