Piccadily Agro Industries Ltd

Piccadily Agro Industries Ltd

₹ 709 0.82%
22 Jul 12:47 p.m.
About

Piccadily Agro Industries Ltd (PAIL), was incorporated in the year 1994 and started its commercial operations in 1997 as a sugar processing company. Later in 2007, PAIL has set up a distillery unit. At present the company is engaged in manufacturing sugar and distillery products at a manufacturing plant in Haryana. [1]

Key Points

Products and Revenue[1]
The Company derives 43% of income from sugar segment (Sugar, Molasses, Power and Bagasse) and 57% from distillery products (Liquor, Malt, Carbondioxide Gas, Ethanol and pet bottles) in FY23 as compared to 53.61% from sugar segment and 46.39% from distillery unit in FY22.

  • Market Cap 6,692 Cr.
  • Current Price 709
  • High / Low 903 / 65.2
  • Stock P/E 76.4
  • Book Value 36.0
  • Dividend Yield 0.03 %
  • ROCE 29.6 %
  • ROE 30.7 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 110% CAGR over last 5 years

Cons

  • Stock is trading at 19.6 times its book value
  • Debtor days have increased from 46.1 to 64.0 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
153 206 91 110 166 184 110 115 200 219 114 178 269
147 182 72 102 148 167 99 97 185 194 90 143 202
Operating Profit 6 24 19 8 18 18 12 18 15 25 24 34 67
OPM % 4% 11% 21% 7% 11% 10% 11% 15% 7% 11% 21% 19% 25%
2 0 0 0 0 0 0 0 0 0 0 29 1
Interest 3 3 4 3 3 3 3 4 3 4 5 3 4
Depreciation 3 3 4 4 4 4 4 4 4 6 4 4 4
Profit before tax 2 17 11 1 12 10 5 10 9 15 15 57 59
Tax % 32% 26% 22% 21% 41% 28% 17% 27% 42% 26% 26% 21% 27%
2 12 9 2 6 8 3 7 5 11 11 44 43
EPS in Rs 0.26 1.32 0.93 0.17 0.68 0.80 0.36 0.70 0.50 1.16 1.18 4.70 4.59
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
327 376 344 271 329 334 371 399 488 572 598 779
283 330 316 248 282 308 344 359 437 503 537 629
Operating Profit 44 46 28 23 47 26 27 40 52 69 62 150
OPM % 13% 12% 8% 9% 14% 8% 7% 10% 11% 12% 10% 19%
5 5 6 7 1 5 9 -1 3 1 1 30
Interest 10 8 9 15 17 16 17 15 16 14 13 16
Depreciation 8 10 11 11 13 13 13 13 13 15 16 18
Profit before tax 30 33 15 5 18 2 7 11 25 41 33 146
Tax % 31% 36% 39% 68% 57% -148% 21% -21% 29% 29% 30% 25%
21 21 9 2 8 5 2 19 18 29 22 110
EPS in Rs 2.21 2.25 0.94 0.16 0.84 0.48 0.23 2.03 1.90 3.10 2.37 11.63
Dividend Payout % 11% 0% 0% 0% 0% 0% 0% 10% 26% 3% 4% 0%
Compounded Sales Growth
10 Years: 8%
5 Years: 16%
3 Years: 17%
TTM: 30%
Compounded Profit Growth
10 Years: 15%
5 Years: 110%
3 Years: 70%
TTM: 292%
Stock Price CAGR
10 Years: 52%
5 Years: 161%
3 Years: 229%
1 Year: 947%
Return on Equity
10 Years: 12%
5 Years: 17%
3 Years: 20%
Last Year: 31%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 24 24 24 47 95 95 95 95 95 95 95 94
Reserves 81 102 110 86 59 64 55 75 91 112 137 245
104 90 85 156 128 144 131 126 125 135 154 172
85 99 130 102 141 156 189 166 198 187 207 228
Total Liabilities 293 315 349 391 423 458 470 461 509 529 593 739
134 136 149 162 156 152 148 141 135 144 195 218
CWIP 7 2 4 30 47 50 46 46 46 52 32 42
Investments 16 58 52 53 64 64 65 69 62 59 61 61
136 119 145 146 155 191 211 205 265 273 305 419
Total Assets 293 315 349 391 423 458 470 461 509 529 593 739

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
40 47 42 -6 98 41 58 -0 22 45 37 51
-30 -33 -22 -50 -46 -10 1 -8 0 -35 -52 -30
-8 -14 -22 54 -52 -30 -44 -4 -9 -22 12 -10
Net Cash Flow 2 1 -2 -2 0 1 15 -12 14 -12 -3 11

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 0 0 3 15 15 24 41 30 38 32 42 64
Inventory Days 210 159 189 222 233 215 182 201 215 185 201 200
Days Payable 93 89 160 134 152 175 214 172 174 123 140 113
Cash Conversion Cycle 118 70 33 103 96 63 9 58 79 94 103 151
Working Capital Days 51 26 23 57 8 22 -6 26 44 65 64 88
ROCE % 20% 20% 11% 8% 13% 6% 8% 10% 13% 17% 13% 30%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
70.90% 70.90% 70.96% 70.97% 70.97% 70.97% 70.97% 70.97% 70.97% 70.97% 70.97% 70.97%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.17%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.04% 0.10% 0.10%
29.10% 29.10% 29.04% 29.03% 29.02% 29.02% 29.02% 29.02% 29.03% 29.00% 28.92% 28.76%
No. of Shareholders 15,04717,70821,71029,28530,57729,04327,83827,43530,84152,07051,17271,833

* 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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