Shree Ajit Pulp and Paper Ltd

₹ 277 1.50%
27 Jan - close price
About

Shree Ajit Pulp And Paper Ltd, incorporated in 1995, is engaged in the manufacturing of Kraft Paper which is mainly used for manufacturing of corrugated boxes. [1]

Key Points

Products
The company produces M. G. Kraft paper and Multi-layer Test Liner by using Waste Paper as raw material. The products - Fluting Medium, Test Liner & Semi Kraft Liner is available in Natural Shade, while Test Liner and Semi Kraft Liner is available in Ajit Gold Shade. This product is mainly used for making Corrugated Boxes, Duplex Cartons, Corrugated small e-flute etc. as packaging material. [1] [2]

  • Market Cap 148 Cr.
  • Current Price 277
  • High / Low 390 / 253
  • Stock P/E 10.3
  • Book Value 367
  • Dividend Yield 0.36 %
  • ROCE 18.4 %
  • ROE 13.9 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.75 times its book value

Cons

  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 2.12% of profits 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: Paper Industry: Paper

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
64.02 52.41 61.52 27.74 65.56 80.96 92.35 87.01 101.61 106.79 122.84 103.27 106.23
55.50 47.67 48.83 24.25 56.32 65.29 75.39 71.43 90.62 96.93 113.28 95.75 100.10
Operating Profit 8.52 4.74 12.69 3.49 9.24 15.67 16.96 15.58 10.99 9.86 9.56 7.52 6.13
OPM % 13.31% 9.04% 20.63% 12.58% 14.09% 19.36% 18.36% 17.91% 10.82% 9.23% 7.78% 7.28% 5.77%
0.02 0.57 0.09 0.11 0.07 0.13 0.23 0.30 0.35 0.16 0.12 0.00 0.27
Interest 1.26 0.88 0.97 0.77 0.79 0.64 1.32 0.61 0.66 0.79 2.48 2.03 1.18
Depreciation 1.88 1.94 1.92 1.90 1.91 1.87 1.83 1.83 1.85 1.84 1.80 1.82 1.81
Profit before tax 5.40 2.49 9.89 0.93 6.61 13.29 14.04 13.44 8.83 7.39 5.40 3.67 3.41
Tax % -32.78% 28.11% 28.01% 24.73% 26.63% 28.89% 31.34% 29.17% 29.33% 28.82% 25.37% 28.61% 28.15%
Net Profit 7.16 1.80 7.12 0.70 4.86 9.46 9.63 9.51 6.25 5.26 4.04 2.62 2.46
EPS in Rs 13.37 3.36 13.29 1.31 9.07 17.66 17.98 17.75 11.67 9.82 7.54 4.89 4.59
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
130 155 174 190 189 222 209 249 270 240 267 418 439
111 137 147 164 169 195 190 225 225 206 221 372 406
Operating Profit 20 18 27 25 19 27 19 24 44 34 45 46 33
OPM % 15% 12% 16% 13% 10% 12% 9% 10% 16% 14% 17% 11% 8%
0 0 0 0 0 0 0 -0 0 1 1 1 1
Interest 4 4 4 3 4 4 4 6 5 4 4 5 6
Depreciation 3 3 4 5 5 5 5 6 7 8 8 7 7
Profit before tax 13 11 20 18 10 18 9 12 33 23 35 35 20
Tax % 32% 31% 30% 32% 28% 33% 29% 31% 29% 15% 29% 29%
Net Profit 9 8 14 12 7 12 6 8 23 20 25 25 14
EPS in Rs 15.25 14.36 26.30 22.74 13.29 22.59 11.95 15.40 43.18 36.68 46.02 46.76 26.84
Dividend Payout % 2% 2% 2% 2% 4% 3% 6% 5% 2% 2% 2% 2%
Compounded Sales Growth
10 Years: 10%
5 Years: 15%
3 Years: 16%
TTM: 21%
Compounded Profit Growth
10 Years: 13%
5 Years: 31%
3 Years: 3%
TTM: -59%
Stock Price CAGR
10 Years: %
5 Years: 6%
3 Years: 20%
1 Year: -24%
Return on Equity
10 Years: 15%
5 Years: 15%
3 Years: 15%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
5 5 5 5 5 5 5 5 5 5 5 5 5
Reserves 30 38 52 64 70 82 88 96 119 138 162 187 191
37 37 35 38 34 27 44 51 36 30 24 46 134
21 26 24 29 32 34 36 36 40 37 54 48 49
Total Liabilities 93 107 116 136 142 148 173 188 200 210 246 286 380
54 61 61 83 85 82 89 111 127 134 129 128 155
CWIP 2 2 9 3 1 1 6 2 3 3 1 3 86
Investments 1 1 3 3 4 5 6 6 9 9 9 9 9
37 42 44 47 51 60 73 68 61 65 107 146 130
Total Assets 93 107 116 136 142 148 173 188 200 210 246 286 380

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
16 14 17 17 15 16 14 18 45 32 25 -7
-8 -12 -13 -17 -7 -4 -27 -18 -24 -14 0 -15
-8 -3 -6 -0 -8 -12 13 1 -21 -10 -10 16
Net Cash Flow 0 -1 -2 -0 -1 0 0 -0 0 8 15 -7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 42 41 47 50 48 61 55 60 43 51 58 49
Inventory Days 47 53 51 44 59 43 57 50 56 53 78 73
Days Payable 53 59 39 30 37 37 45 35 40 42 57 32
Cash Conversion Cycle 36 36 60 64 70 66 67 75 58 62 79 90
Working Capital Days 23 22 32 40 48 53 60 56 41 47 61 75
ROCE % 24% 19% 27% 21% 13% 20% 10% 12% 24% 17% 21% 18%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60 56.30
44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.41 43.70

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