Premco Global Ltd

Premco Global is an India-based holding company. The Company is engaged in manufacturing of woven and knitted elastic tapes, and other activities.

Pros:
Company is virtually debt free.
Stock is trading at 0.44 times its book value
Company has been maintaining a healthy dividend payout of 146.83%
Cons:
Company has low interest coverage ratio.
The company has delivered a poor growth of -5.28% over past five years.
Company has a low return on equity of 7.49% for last 3 years.
Contingent liabilities of Rs.13.24 Cr.

Peer Comparison Sector: Textiles // Industry: Textiles - Processing

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
21.08 14.36 15.58 20.12 13.03 11.70 17.11 16.99 12.74 9.28 11.35 10.71
15.37 11.59 11.24 16.98 11.51 10.09 17.52 14.12 12.22 10.92 12.58 11.37
Operating Profit 5.71 2.77 4.34 3.14 1.52 1.61 -0.41 2.87 0.52 -1.64 -1.23 -0.66
OPM % 27.09% 19.29% 27.86% 15.61% 11.67% 13.76% -2.40% 16.89% 4.08% -17.67% -10.84% -6.16%
Other Income 1.27 0.93 0.40 0.95 1.51 0.41 0.85 1.29 1.58 -1.91 0.83 1.71
Interest 0.28 0.36 0.32 0.38 0.20 0.14 0.12 0.18 0.19 0.24 0.19 0.39
Depreciation 0.60 0.59 0.60 0.46 0.72 0.60 0.13 0.53 0.54 0.53 0.11 0.42
Profit before tax 6.10 2.75 3.82 3.25 2.11 1.28 0.19 3.45 1.37 -4.32 -0.70 0.24
Tax % 32.46% 30.18% 34.03% 22.15% 23.70% 31.25% 84.21% 23.77% -1.46% 34.26% -44.29% 20.83%
Net Profit 4.13 1.92 2.52 2.53 1.61 0.88 0.03 2.62 1.39 -2.84 -1.00 0.19
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
24.21 29.88 28.00 43.11 33.77 52.85 66.04 72.28 73.93 69.86 61.96 50.36 44.08
21.76 26.85 25.84 38.97 30.73 44.08 52.31 52.03 53.77 52.16 56.11 50.75 47.09
Operating Profit 2.45 3.03 2.16 4.14 3.04 8.77 13.73 20.25 20.16 17.70 5.85 -0.39 -3.01
OPM % 10.12% 10.14% 7.71% 9.60% 9.00% 16.59% 20.79% 28.02% 27.27% 25.34% 9.44% -0.77% -6.83%
Other Income -0.16 0.55 0.79 0.19 0.11 0.61 1.13 1.79 2.59 3.49 3.72 2.71 2.21
Interest 0.46 0.58 0.37 1.29 1.02 0.95 1.09 1.09 1.03 1.22 0.83 0.80 1.01
Depreciation 0.80 0.79 0.79 1.01 1.04 1.08 1.28 2.37 2.21 2.35 1.91 1.72 1.60
Profit before tax 1.03 2.21 1.79 2.03 1.09 7.35 12.49 18.58 19.51 17.62 6.83 -0.20 -3.41
Tax % 54.37% 36.65% 41.34% 33.00% 44.95% 29.80% 34.99% 35.09% 35.11% 33.20% 25.77% 180.00%
Net Profit 0.47 1.40 1.05 1.36 0.61 5.17 8.12 12.06 12.66 11.77 5.06 0.16 -2.26
EPS in Rs 1.38 4.45 3.29 4.32 1.84 16.03 24.18 35.85 37.68 35.62 15.31 0.48
Dividend Payout % 75.83% 25.80% 34.40% 26.56% 59.21% 11.00% 8.15% 7.41% 7.82% 8.41% 19.57% 412.50%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:5.36%
5 Years:-5.28%
3 Years:-12.01%
TTM:-25.07%
Compounded Profit Growth
10 Years:-17.86%
5 Years:-52.29%
3 Years:-74.84%
TTM:-143.97%
Return on Equity
10 Years:15.37%
5 Years:14.36%
3 Years:7.49%
Last Year:0.30%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
2.97 3.01 3.01 3.01 3.01 3.16 3.31 3.31 3.30 3.30 3.30 3.30
Reserves 10.07 11.19 11.83 12.77 12.97 17.73 25.47 35.89 47.43 59.23 63.11 64.06
Borrowings 1.76 1.42 3.81 6.67 6.95 8.19 6.13 3.31 4.07 10.12 3.12 2.68
6.85 6.61 6.99 5.67 7.22 8.84 10.23 9.03 7.75 11.11 9.55 7.31
Total Liabilities 21.65 22.23 25.64 28.12 30.15 37.92 45.14 51.54 62.55 83.76 79.08 77.35
10.11 9.94 10.43 13.65 12.90 13.22 12.69 10.10 9.71 11.26 11.43 10.74
CWIP 0.00 0.00 0.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.34 0.33 0.32 0.32 0.38 0.54 4.45 10.32 22.55 30.61 26.16 17.73
11.20 11.96 14.82 14.15 16.87 24.16 28.00 31.12 30.29 41.89 41.49 48.88
Total Assets 21.65 22.23 25.64 28.12 30.15 37.92 45.14 51.54 62.55 83.76 79.08 77.35

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
2.95 1.84 0.28 2.73 1.59 0.78 9.45 10.82 15.97 3.82 2.29 -6.21
-1.04 -0.49 -1.30 -4.08 -0.58 -1.53 -4.52 -5.89 -13.64 -7.10 5.07 9.45
-1.91 -1.14 1.66 0.89 -0.76 0.06 -3.40 -4.78 -1.96 3.28 -9.12 -1.43
Net Cash Flow 0.00 0.21 0.64 -0.46 0.25 -0.69 1.53 0.16 0.37 0.00 -1.76 1.81

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 13.75% 18.67% 12.61% 15.72% 10.49% 32.03% 42.32% 49.29% 41.87% 25.28% 8.27% 1.09%
Debtor Days 62.11 54.11 60.23 40.05 53.39 72.65 62.95 51.66 47.10 65.73 78.23 89.80
Inventory Turnover 5.06 7.81 7.34 8.18 4.72 5.37 5.89 5.52 4.92 4.62 5.02 5.36