Shree Ajit Pulp and Paper Ltd

₹ 278 -1.12%
25 Nov - close price
shreeajit.com BSE: 538795
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]

Website BSE
  • Market Cap ₹ 149 Cr.
  • Current Price ₹ 278
  • High / Low ₹ 414 / 253
  • Stock P/E 12.6
  • Book Value ₹ 359
  • Dividend Yield 0.36 %
  • ROCE 17.0 %
  • ROE 12.2 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.78 times its book value

Cons

  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 2.24% 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

Consolidated Figures in Rs. Crores / View Standalone

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
55.51 47.70 48.86 24.66 56.76 65.29 75.46 72.23 90.95 96.94 115.70 95.84 100.24
Operating Profit 8.51 4.71 12.66 3.08 8.80 15.67 16.89 14.78 10.66 9.85 7.14 7.43 5.99
OPM % 13.29% 8.99% 20.58% 11.10% 13.42% 19.36% 18.29% 16.99% 10.49% 9.22% 5.81% 7.19% 5.64%
0.27 0.58 0.11 0.12 0.08 0.38 0.24 0.31 0.36 0.26 0.13 0.01 0.28
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 5.64 2.47 9.88 0.53 6.18 13.54 13.98 12.65 8.51 7.48 2.99 3.59 3.28
Tax % -31.38% 28.34% 28.14% 43.40% 28.48% 28.36% 31.55% 30.99% 30.43% 28.48% 45.82% 29.25% 29.27%
Net Profit 7.40 1.77 7.10 0.29 4.42 9.71 9.57 8.73 5.92 5.35 1.62 2.54 2.33
EPS in Rs 13.81 3.30 13.25 0.54 8.25 18.13 17.87 16.30 11.05 9.99 3.02 4.74 4.35
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
130 151 174 205 203 237 209 249 270 240 267 418 439
111 132 147 179 183 209 190 226 225 206 222 376 409
Operating Profit 20 18 27 26 20 28 19 24 44 34 45 43 30
OPM % 15% 12% 16% 13% 10% 12% 9% 10% 16% 14% 17% 10% 7%
0 0 0 0 0 0 0 -0 1 1 1 1 1
Interest 4 4 4 4 5 5 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 11 33 23 34 32 17
Tax % 32% 31% 30% 33% 27% 34% 29% 32% 28% 15% 30% 32%
Net Profit 9 8 14 12 7 12 6 8 24 20 24 22 12
EPS in Rs 15.21 14.34 26.34 21.92 13.27 21.99 12.02 14.32 44.71 37.21 44.80 40.36 22.10
Dividend Payout % 2% 2% 2% 2% 4% 3% 6% 5% 2% 2% 2% 2%
Compounded Sales Growth
10 Years: 11%
5 Years: 15%
3 Years: 16%
TTM: 21%
Compounded Profit Growth
10 Years: 11%
5 Years: 27%
3 Years: -3%
TTM: -65%
Stock Price CAGR
10 Years: %
5 Years: 8%
3 Years: 17%
1 Year: -16%
Return on Equity
10 Years: 14%
5 Years: 14%
3 Years: 14%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 63 70 81 88 95 118 138 161 182 187
36 37 35 43 41 33 44 51 36 30 24 46 134
21 26 24 30 33 38 36 36 40 37 54 48 49
Total Liabilities 93 107 116 142 149 157 173 187 199 210 245 282 375
54 61 61 89 91 91 89 111 127 134 129 128 155
CWIP 2 2 9 3 3 1 6 2 3 3 1 3 86
Investments 0 1 2 0 0 0 5 5 8 8 7 4 3
37 43 45 51 54 65 73 69 62 65 108 147 131
Total Assets 93 107 116 142 149 157 173 187 199 210 245 282 375

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
15 14 17 14 16 17 14 18 45 32 25 -7
-7 -12 -14 -16 -9 -4 -27 -18 -24 -14 0 -15
-8 -3 -6 2 -8 -13 13 1 -21 -10 -10 16
Net Cash Flow 0 -1 -3 -0 -1 -0 0 0 0 8 15 -7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 43 47 50 46 61 55 60 43 51 58 49
Inventory Days 47 53 51 43 56 42 57 50 56 53 78 73
Days Payable 53 59 35 31 36 40 45 35 40 42 57 32
Cash Conversion Cycle 36 37 63 61 66 63 67 75 58 62 79 90
Working Capital Days 23 23 32 39 46 50 60 56 41 47 61 75
ROCE % 19% 27% 21% 13% 19% 10% 12% 25% 17% 21% 17%

Shareholding Pattern

Numbers in percentages

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60
44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.41

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