VTM Ltd

VTM Ltd

₹ 73.4 -0.19%
23 Feb - close price
About

Incorporated in 1951, VTM Ltd is in the
business of weaving and caters to
special fabric manufacturing in fine counts
and complex specifications[1]

Key Points

Business Overview:[1][2]
VTM is a part of Thiagarajar group. It specializes in manufacturing of grey weaving requirements and Greige & Processed Fabrics, for export and domestic markets. Company deals in Speciality fabrics like Structured, Dobby, Plain, Twill, Satin and Jacquard designs produced from 38” to 144” width.

  • Market Cap 295 Cr.
  • Current Price 73.4
  • High / Low 79.0 / 44.1
  • Stock P/E 16.8
  • Book Value 63.3
  • Dividend Yield 0.95 %
  • ROCE 3.83 %
  • ROE 2.66 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Stock is trading at 1.16 times its book value
  • Company has been maintaining a healthy dividend payout of 26.6%
  • Debtor days have improved from 32.9 to 24.3 days.

Cons

  • The company has delivered a poor sales growth of 4.86% over past five years.
  • Company has a low return on equity of 3.92% over last 3 years.

* 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
45.38 42.63 27.57 51.66 60.19 54.33 54.72 51.46 49.33 53.21 46.11 47.06 51.03
39.12 38.19 23.69 45.26 53.93 47.73 48.38 47.89 46.65 48.63 39.46 38.70 44.18
Operating Profit 6.26 4.44 3.88 6.40 6.26 6.60 6.34 3.57 2.68 4.58 6.65 8.36 6.85
OPM % 13.79% 10.42% 14.07% 12.39% 10.40% 12.15% 11.59% 6.94% 5.43% 8.61% 14.42% 17.76% 13.42%
1.82 0.48 2.30 1.70 0.52 0.65 0.99 1.61 1.43 1.75 2.66 1.66 1.48
Interest 0.26 0.09 0.23 0.27 0.27 0.28 0.22 0.22 0.23 0.16 0.28 0.13 0.25
Depreciation 2.02 2.05 2.26 2.31 2.29 2.33 2.33 2.50 2.50 2.48 2.57 2.64 2.08
Profit before tax 5.80 2.78 3.69 5.52 4.22 4.64 4.78 2.46 1.38 3.69 6.46 7.25 6.00
Tax % 27.59% 2.52% 27.91% 26.99% 28.91% -12.28% 23.43% 37.80% 18.12% 23.85% 20.59% 30.62% 23.17%
4.20 2.71 2.66 4.02 3.00 5.21 3.66 1.54 1.13 2.82 5.12 5.04 4.61
EPS in Rs 1.04 0.67 0.66 1.00 0.75 1.30 0.91 0.38 0.28 0.70 1.27 1.25 1.15
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
117 143 169 168 154 150 165 160 161 143 194 209 197
103 121 147 155 140 140 150 145 144 126 171 192 171
Operating Profit 13 22 22 13 14 11 14 15 16 16 23 17 26
OPM % 12% 15% 13% 8% 9% 7% 9% 9% 10% 11% 12% 8% 13%
3 3 3 3 5 9 5 7 9 5 5 6 8
Interest 0 0 0 0 0 1 1 1 1 1 1 1 1
Depreciation 8 9 9 5 5 7 7 7 8 8 9 10 10
Profit before tax 8 16 16 11 14 12 12 14 16 12 18 12 23
Tax % 17% 23% 28% 28% 33% 34% 35% 27% 26% 21% 18% 26%
6 12 11 8 9 8 8 10 12 10 15 9 18
EPS in Rs 1.56 3.06 2.81 1.98 2.32 2.04 1.94 2.54 3.01 2.43 3.70 2.27 4.37
Dividend Payout % 26% 23% 25% 32% 32% 37% 39% 35% 30% 25% 24% 31%
Compounded Sales Growth
10 Years: 4%
5 Years: 5%
3 Years: 9%
TTM: -6%
Compounded Profit Growth
10 Years: -6%
5 Years: 4%
3 Years: -14%
TTM: 52%
Stock Price CAGR
10 Years: 17%
5 Years: 23%
3 Years: 45%
1 Year: 51%
Return on Equity
10 Years: 5%
5 Years: 4%
3 Years: 4%
Last Year: 3%

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 4 4 4 4 4 4 4 4 4 4 4 4 4
Reserves 92 101 109 115 121 175 182 193 199 215 230 241 251
1 2 2 7 4 10 11 8 10 10 7 4 7
13 10 13 12 12 21 17 15 24 20 23 20 33
Total Liabilities 110 118 129 139 141 210 214 221 237 249 264 269 295
53 56 49 47 44 91 85 88 96 99 97 95 93
CWIP 0 2 2 2 3 0 7 0 0 3 0 0 0
Investments 3 0 17 34 0 69 25 65 79 85 90 106 103
54 59 60 56 94 50 96 68 62 62 78 69 99
Total Assets 110 118 129 139 141 210 214 221 237 249 264 269 295

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
31 12 -0 -3 33 17 1 10 25 11 7 22
-7 -11 -0 -5 -2 -61 5 -3 -20 -9 -1 -13
-7 -4 1 1 1 4 -4 -7 -7 -1 -7 -7
Net Cash Flow 17 -3 0 -7 32 -39 3 -1 -2 1 -1 2

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 45 53 34 38 56 50 57 55 38 44 31 24
Inventory Days 71 67 75 72 82 74 74 94 102 91 116 76
Days Payable 11 8 10 7 7 15 11 6 29 6 25 13
Cash Conversion Cycle 105 112 100 103 130 108 120 143 110 128 122 87
Working Capital Days 83 96 75 81 106 89 102 113 89 120 111 87
ROCE % 8% 16% 14% 8% 9% 8% 5% 6% 7% 5% 6% 4%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 74.99% 74.99% 74.99% 75.00% 75.00% 75.00%
25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.01% 25.00% 25.00% 24.99% 25.00% 25.00%
No. of Shareholders 3,2724,3184,1384,0594,3465,4515,1144,7564,5784,4174,6754,304

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