DCM Shriram Industries Ltd

About

DCM Shriram Industries Ltd is primarily engaged in production and sale of sugar, alcohol, power, chemicals and industrial fibers.

  • Market Cap 317 Cr.
  • Current Price 182
  • High / Low 196 / 84.0
  • Stock P/E 3.91
  • Book Value 338
  • Dividend Yield 2.75 %
  • ROCE 13.4 %
  • ROE 18.4 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.54 times its book value

Cons

  • The company has delivered a poor growth of 6.69% over past five years.
  • Tax rate seems low
  • Contingent liabilities of Rs.109.54 Cr.
  • Dividend payout has been low at 11.63% of profits over last 3 years

Peer comparison

Sector: Sugar Industry: Sugar

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
465 415 404 405 398 392 543 462 401 536
427 377 391 377 361 336 529 425 378 463
Operating Profit 37 38 13 29 37 56 14 37 23 72
OPM % 8% 9% 3% 7% 9% 14% 3% 8% 6% 13%
Other Income 7 6 3 4 4 6 5 9 4 2
Interest 8 5 3 8 11 14 9 11 11 10
Depreciation 5 5 5 5 6 6 6 11 8 28
Profit before tax 31 34 8 20 26 42 4 25 8 37
Tax % 25% 25% -112% 51% 34% 35% -501% -4% 37% 34%
Net Profit 23 25 16 10 17 28 25 26 5 25
EPS in Rs 13.48 14.54 9.33 5.56 9.71 15.89 14.58 14.93 2.93 14.09
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
796 835 890 992 1,095 1,313 1,298 1,216 1,494 1,704 1,689 1,795 1,941
744 772 870 948 1,026 1,221 1,235 1,133 1,301 1,604 1,572 1,648 1,795
Operating Profit 52 64 20 44 69 92 64 83 194 101 117 147 147
OPM % 7% 8% 2% 4% 6% 7% 5% 7% 13% 6% 7% 8% 8%
Other Income 44 36 24 -7 15 16 8 11 16 17 20 22 20
Interest 35 23 33 42 42 40 41 35 38 28 24 45 41
Depreciation 17 19 20 22 21 22 18 19 19 19 21 28 52
Profit before tax 43 57 -9 -27 20 46 13 40 153 70 92 97 74
Tax % 34% 32% 42% 36% 43% 36% 60% 15% 20% 16% 19% 1%
Net Profit 40 39 -6 -18 6 32 7 34 122 59 75 96 81
EPS in Rs 22.78 22.51 -3.57 -10.36 3.41 18.32 3.86 19.59 69.89 33.72 43.03 55.11 46.53
Dividend Payout % 9% 20% 0% 0% 44% 19% 26% 15% 14% 12% 14% 9%
Compounded Sales Growth
10 Years:8%
5 Years:7%
3 Years:6%
TTM:21%
Compounded Profit Growth
10 Years:10%
5 Years:71%
3 Years:-7%
TTM:15%
Stock Price CAGR
10 Years:8%
5 Years:15%
3 Years:-18%
1 Year:20%
Return on Equity
10 Years:13%
5 Years:19%
3 Years:16%
Last Year:18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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
17 17 17 17 17 17 17 17 17 17 17 17 17
Reserves 205 231 221 200 201 224 222 250 383 417 481 542 570
Borrowings 294 299 308 383 407 298 419 408 409 419 466 613 442
212 269 272 307 314 419 345 397 349 267 380 436 419
Total Liabilities 729 817 818 908 940 959 1,004 1,073 1,157 1,121 1,344 1,609 1,448
278 280 293 286 291 293 319 321 329 330 390 456 448
CWIP 20 29 14 18 15 18 9 8 3 18 23 34 48
Investments 15 14 13 38 11 29 21 18 35 23 40 27 54
416 495 498 567 623 618 655 726 790 749 892 1,092 899
Total Assets 729 817 818 908 940 959 1,004 1,073 1,157 1,121 1,344 1,609 1,448

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
100 50 49 17 19 186 -46 68 74 63 84 38
-47 -25 -24 -42 -3 -39 -25 -18 -20 -33 -103 -62
-49 -25 -26 34 -19 -152 71 -48 -54 -27 17 62
Net Cash Flow 4 -0 -1 8 -4 -5 1 1 -0 4 -3 37

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 % 16% 15% 4% 5% 9% 15% 9% 11% 26% 12% 13% 13%
Debtor Days 33 28 27 33 32 31 27 34 36 35 41 38
Inventory Turnover 1.75 1.70 1.77 1.86 1.89 2.24 2.27 1.79 1.82 2.43 2.07 1.95

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
44.52 44.52 44.52 46.37 46.37 46.47 46.63 46.75 46.86 46.88 46.88 47.43
0.00 0.09 0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
7.15 7.15 7.15 7.15 7.15 7.15 7.15 7.15 7.04 6.69 6.69 6.69
48.33 48.24 48.24 46.49 46.48 46.38 46.22 46.10 46.10 46.42 46.42 45.88

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