Arex Industries Ltd

Arex Industries Ltd

₹ 144 -4.80%
23 Feb - close price
About

Incorporated in 1989, Arex Industries Ltd manufactures and trades in woven and printed labels used by garment manufacturers

Key Points

Product Profile:[1]
Company provides 414 million Woven Labels annually of Satin or Taffeta quality in White, Black or Colored Warp-base in 12 Colors. These labels are provided in range of finishes viz., End Fold, Center Fold, Miter Fold, Manhattan Fold, Starched, Specially Coated, Self Adhesive, Thermo Adhesive, Laser Cut, Die Cut, Filled In, Comfort Soft

  • Market Cap 56.9 Cr.
  • Current Price 144
  • High / Low 156 / 76.0
  • Stock P/E 21.2
  • Book Value 76.1
  • Dividend Yield 0.00 %
  • ROCE 5.52 %
  • ROE 2.19 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 3.63% over past five years.
  • Company has a low return on equity of 4.10% over last 3 years.
  • Promoters have pledged 42.3% of their holding.

* 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 - Processing

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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
14.62 13.33 12.99 14.36 13.07 12.01 10.96 11.19 10.87 11.68 12.80 13.05
11.11 10.48 10.16 11.25 10.67 9.73 9.71 9.26 9.40 9.82 10.40 9.53
Operating Profit 3.51 2.85 2.83 3.11 2.40 2.28 1.25 1.93 1.47 1.86 2.40 3.52
OPM % 24.01% 21.38% 21.79% 21.66% 18.36% 18.98% 11.41% 17.25% 13.52% 15.92% 18.75% 26.97%
0.04 0.00 0.00 -0.01 0.07 0.04 0.00 0.02 0.07 0.00 0.00 0.00
Interest 0.62 0.63 0.50 0.53 0.45 0.51 0.49 0.45 0.36 0.40 0.36 0.32
Depreciation 1.20 1.12 1.11 1.12 1.14 1.07 1.08 1.08 1.00 1.07 1.10 1.08
Profit before tax 1.73 1.10 1.22 1.45 0.88 0.74 -0.32 0.42 0.18 0.39 0.94 2.12
Tax % 5.20% 29.09% 29.51% 4.83% 25.00% 33.78% 21.88% 28.57% 0.00% 28.21% 18.09% 30.66%
1.64 0.79 0.86 1.38 0.67 0.49 -0.25 0.29 0.17 0.28 0.77 1.47
EPS in Rs 4.14 2.00 2.17 3.49 1.69 1.24 -0.63 0.73 0.43 0.71 1.95 3.71
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
21.93 25.99 31.70 33.04 32.15 34.94 37.66 40.72 47.17 40.88 53.75 45.02 48.40
15.62 19.17 23.16 25.22 24.44 26.45 29.62 31.10 37.89 34.02 42.53 38.20 39.15
Operating Profit 6.31 6.82 8.54 7.82 7.71 8.49 8.04 9.62 9.28 6.86 11.22 6.82 9.25
OPM % 28.77% 26.24% 26.94% 23.67% 23.98% 24.30% 21.35% 23.62% 19.67% 16.78% 20.87% 15.15% 19.11%
0.13 0.03 -0.13 0.08 0.06 -0.06 0.11 0.42 0.15 0.08 0.04 0.23 0.07
Interest 1.58 1.38 1.07 0.77 0.72 1.02 1.09 2.54 3.13 2.98 2.11 1.81 1.44
Depreciation 4.83 4.44 4.05 3.13 2.54 2.51 2.54 4.02 4.85 4.76 4.49 4.23 4.25
Profit before tax 0.03 1.03 3.29 4.00 4.51 4.90 4.52 3.48 1.45 -0.80 4.66 1.01 3.63
Tax % -1,133.33% 31.07% 33.13% 32.50% 36.36% 34.29% 23.67% 27.59% 38.62% -25.00% 20.60% 30.69%
0.37 0.71 2.20 2.69 2.87 3.22 3.45 2.52 0.88 -1.00 3.70 0.70 2.69
EPS in Rs 0.93 1.79 5.56 6.80 7.25 8.13 8.71 6.37 2.22 -2.53 9.35 1.77 6.80
Dividend Payout % 96.32% 50.20% 16.20% 13.25% 41.39% 24.60% 22.96% 31.43% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 6%
5 Years: 4%
3 Years: -2%
TTM: 2%
Compounded Profit Growth
10 Years: -1%
5 Years: -29%
3 Years: -10%
TTM: 124%
Stock Price CAGR
10 Years: 26%
5 Years: 14%
3 Years: 40%
1 Year: 51%
Return on Equity
10 Years: 10%
5 Years: 5%
3 Years: 4%
Last Year: 2%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 3.96 3.96 3.96 3.96 3.96 3.96 3.96 3.96 3.96 3.96 3.96 3.96 3.96
Reserves 8.45 8.75 10.53 12.79 14.23 17.67 20.21 21.76 21.69 20.70 24.41 25.11 26.16
12.78 8.97 8.85 5.57 10.30 12.97 29.96 35.38 32.00 31.06 23.32 17.75 13.73
4.62 4.38 3.67 2.80 4.99 3.39 5.35 6.42 6.53 6.94 6.77 5.88 8.15
Total Liabilities 29.81 26.06 27.01 25.12 33.48 37.99 59.48 67.52 64.18 62.66 58.46 52.70 52.00
18.14 14.88 15.07 13.68 17.68 20.15 17.78 46.36 43.21 39.41 36.14 33.39 31.88
CWIP 0.00 0.11 0.35 0.00 1.80 0.00 23.85 0.00 0.00 0.00 0.49 0.00 0.06
Investments 0.02 0.02 0.02 0.03 1.03 1.26 0.12 0.02 0.00 1.01 0.00 0.00 0.00
11.65 11.05 11.57 11.41 12.97 16.58 17.73 21.14 20.97 22.24 21.83 19.31 20.06
Total Assets 29.81 26.06 27.01 25.12 33.48 37.99 59.48 67.52 64.18 62.66 58.46 52.70 52.00

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
3.84 6.70 4.30 4.83 7.16 2.59 7.73 6.83 9.79 7.48 10.46 8.12
-0.37 -1.25 -4.39 -1.32 -9.29 -3.28 -22.81 -8.17 -1.57 -1.86 -0.60 -0.73
-3.34 -5.59 0.10 -3.45 2.05 1.02 14.94 1.07 -8.19 -5.65 -9.85 -7.38
Net Cash Flow 0.13 -0.14 0.01 0.06 -0.08 0.33 -0.15 -0.26 0.02 -0.03 0.01 0.00

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 81.55 75.56 68.62 62.53 80.27 82.21 79.96 94.12 82.64 103.21 64.10 66.00
Inventory Days 209.53 134.57 110.40 107.11 137.21 139.33 126.72 201.12 198.88 224.84 228.87 234.62
Days Payable 26.75 12.60 6.63 3.77 19.66 17.54 31.68 81.26 100.09 107.42 92.02 82.34
Cash Conversion Cycle 264.33 197.52 172.39 165.87 197.82 204.00 175.00 213.98 181.42 220.64 200.95 218.28
Working Capital Days 80.56 54.07 69.66 80.98 70.50 91.30 90.91 98.87 86.51 135.00 100.64 111.15
ROCE % 6.20% 10.33% 20.35% 20.81% 20.55% 19.21% 12.62% 9.86% 7.65% 3.78% 12.64% 5.52%

Shareholding Pattern

Numbers in percentages

3 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
61.60% 61.60% 61.60% 61.90% 61.90% 61.90% 61.90% 66.65% 66.65% 70.53% 70.53% 70.53%
38.40% 38.40% 38.40% 38.10% 38.10% 38.10% 38.09% 33.34% 33.34% 29.45% 29.46% 29.46%
No. of Shareholders 2,6662,6572,6252,5852,4642,4402,4102,4152,4382,3862,4002,265

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