Shree Ajit Pulp and Paper Ltd

About [ edit ]

Shree Ajit Pulp and Paper is engaged in the manufacturing of Kraft Paper (Testliner / Multilayer Testliner) which is mainly used for manufacturing of corrugated boxes.

  • Market Cap 128 Cr.
  • Current Price 240
  • High / Low 256 / 122
  • Stock P/E 5.97
  • Book Value 275
  • Dividend Yield 0.31 %
  • ROCE 16.7 %
  • ROE 14.9 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.87 times its book value
  • Company has delivered good profit growth of 22.89% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 3.46% over past five years.

Peer comparison

Sector: Paper Industry: Paper

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
66.17 69.55 75.74 61.35 63.06 62.46 64.02 52.41 61.52 27.74 65.56 80.96
57.39 57.22 60.29 51.11 56.88 54.07 55.51 47.70 48.86 24.66 56.76 65.29
Operating Profit 8.78 12.33 15.45 10.24 6.18 8.39 8.51 4.71 12.66 3.08 8.80 15.67
OPM % 13.27% 17.73% 20.40% 16.69% 9.80% 13.43% 13.29% 8.99% 20.58% 11.10% 13.42% 19.36%
Other Income 0.21 0.03 0.57 0.40 0.40 0.14 0.27 0.58 0.11 0.12 0.08 0.38
Interest 1.43 1.82 1.15 1.01 1.17 1.29 1.26 0.88 0.97 0.77 0.79 0.64
Depreciation 1.68 1.67 1.70 1.80 1.84 1.82 1.88 1.94 1.92 1.90 1.91 1.87
Profit before tax 5.88 8.87 13.17 7.83 3.57 5.42 5.64 2.47 9.88 0.53 6.18 13.54
Tax % 37.76% 31.12% 35.46% 15.45% 24.37% 32.29% -31.38% 28.34% 28.14% 43.40% 28.48% 28.36%
Net Profit 3.66 6.12 8.51 6.62 2.70 3.66 7.40 1.77 7.10 0.29 4.42 9.71
EPS in Rs 6.83 11.42 15.89 12.36 5.04 6.83 13.81 3.30 13.25 0.54 8.25 18.13
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
42 52 130 151 174 205 203 237 209 249 270 240 236
38 47 111 132 147 179 183 209 190 226 225 206 196
Operating Profit 4 5 20 18 27 26 20 28 19 24 44 34 40
OPM % 9% 9% 15% 12% 16% 13% 10% 12% 9% 9% 16% 14% 17%
Other Income 0 -0 0 0 0 0 0 0 0 -0 1 1 1
Interest 0 0 4 4 4 4 5 5 4 6 5 4 3
Depreciation 1 1 3 3 4 5 5 5 5 6 7 8 8
Profit before tax 3 4 13 11 20 18 10 18 9 11 33 23 30
Tax % 38% 35% 32% 31% 30% 33% 27% 34% 29% 32% 28% 15%
Net Profit 2 2 9 8 14 12 7 12 6 8 24 20 22
EPS in Rs 2.80 3.96 15.21 14.34 26.34 21.92 13.27 21.99 12.02 14.32 44.71 37.21 40.17
Dividend Payout % 8% 6% 2% 2% 2% 2% 4% 3% 6% 5% 2% 2%
Compounded Sales Growth
10 Years:%
5 Years:3%
3 Years:5%
TTM:-3%
Compounded Profit Growth
10 Years:%
5 Years:23%
3 Years:46%
TTM:39%
Stock Price CAGR
10 Years:%
5 Years:17%
3 Years:9%
1 Year:36%
Return on Equity
10 Years:%
5 Years:14%
3 Years:15%
Last Year:15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
5 5 5 5 5 5 5 5 5 5 5 5 5
Reserves 7 9 30 38 52 63 70 81 88 95 118 138 142
Borrowings 2 5 36 37 35 43 41 33 44 51 36 30 17
7 10 21 26 24 30 33 38 36 36 40 37 46
Total Liabilities 21 29 93 107 116 142 149 157 173 187 199 210 210
10 11 54 61 61 89 91 91 89 111 127 134 130
CWIP 1 1 2 2 9 3 3 1 6 2 3 3 3
Investments 0 0 0 1 2 0 0 0 5 5 8 8 7
11 18 37 43 45 51 54 65 73 69 62 65 70
Total Assets 21 29 93 107 116 142 149 157 173 187 199 210 210

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
4 1 15 14 17 14 16 17 14 18 45 32
-2 -2 -7 -12 -14 -16 -9 -4 -27 -18 -24 -14
-2 2 -8 -3 -6 2 -8 -13 13 1 -21 -10
Net Cash Flow -0 2 0 -1 -3 -0 -1 -0 0 0 0 8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 24% 19% 27% 21% 13% 19% 10% 12% 25% 17%
Debtor Days 48 46 42 43 47 50 46 61 55 60 43 51
Inventory Turnover 7.67 9.72 9.05 10.58 8.97 9.50 8.29 8.80 8.11 7.75

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
57.72 57.72 49.28 55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60 55.60
42.28 42.28 50.72 44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.40 44.40

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