Dolfin Rubbers Ltd

Dolfin Rubbers Ltd

₹ 130 0.27%
30 May - close price
About

Dolfin Rubbers is engaged in manufacturing of all types of auto and animal driven (ADV) tubes supporting the tyre tube industry. [1]

Key Points

Products
The Co manufacturers a wide range of butyl rubber tubes, suitable for tyre of vehicle viz., two-wheeler, three-wheeler, cars, jeeps, heavy commercial vehicles such as buses, trucks, tractors etc. [1]

Presence
The Co has a wide network of distributors established across 27 states and union territories of India. Its products are also available in Bangladesh, Bhutan, Egypt, Nepal etc. [2]

<pre><code> **Automotive Tyres** </code></pre>

The Co has started the production of automotive tyres (both Tubeless and Tube type) from moped Scooter onwards to Giant Vehicles in its existing plant of Automotive tubes with the addition of new machineries. [3]

<pre><code> **Revenue** </code></pre>

The Co derives 100% of its revenue from domestic sales of Auto Tubes and its allied products.[4]

KMP Changes
Mr. Kanwaljit Singh resigned from the post of Managing Director and KMP w.e.f. August 1st, 2020. [5]

Promoter Shareholding
The promoters of the Co have increased their stake in the Co by ~2% between March 2020 and Sept 2021. [6][7]

  • Market Cap 131 Cr.
  • Current Price 130
  • High / Low 167 / 79.0
  • Stock P/E 39.5
  • Book Value 24.6
  • Dividend Yield 0.00 %
  • ROCE 15.5 %
  • ROE 14.3 %
  • Face Value 10.0

Pros

Cons

  • Promoter holding is low: 36.1%
  • Company might be capitalizing the interest cost

* 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: Tyres Industry: Tyres

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Quarterly Results

Figures in Rs. Crores

Jun 2022 Sep 2022 Dec 2022 Mar 2023
23.27 24.39 22.60 31.39
21.90 22.88 21.00 29.49
Operating Profit 1.37 1.51 1.60 1.90
OPM % 5.89% 6.19% 7.08% 6.05%
0.06 0.02 0.01 0.05
Interest 0.00 0.18 0.21 0.32
Depreciation 0.32 0.32 0.32 0.33
Profit before tax 1.11 1.03 1.08 1.30
Tax % -2.70% 29.13% 58.33% 23.08%
Net Profit 1.13 0.74 0.45 0.99
EPS in Rs 1.13 0.74 0.45 0.99
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
17 19 22 54 70 77 82 84 102
16 18 21 52 67 73 78 78 95
Operating Profit 1 1 1 3 3 4 5 6 7
OPM % 5% 5% 5% 5% 5% 5% 6% 7% 6%
-0 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 1 1
Depreciation 0 0 0 1 1 1 1 1 1
Profit before tax 0 1 1 2 3 3 4 4 5
Tax % 22% 17% 30% 27% 36% 26% 30% 27% 27%
Net Profit 0 0 0 1 2 3 3 3 3
EPS in Rs 2.33 2.59 2.50 1.77 1.87 2.56 2.84 2.77 3.30
Dividend Payout % 0% 0% 0% 0% 0% 29% 32% 0% 36%
Compounded Sales Growth
10 Years: %
5 Years: 13%
3 Years: 10%
TTM: 22%
Compounded Profit Growth
10 Years: %
5 Years: 20%
3 Years: 9%
TTM: 19%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 63%
1 Year: 65%
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 14%
Last Year: 14%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1 1 1 6 8 8 8 8 10
Reserves 1 2 2 2 8 10 12 14 15
3 3 4 4 2 4 11 10 13
4 4 4 8 8 9 10 15 20
Total Liabilities 9 10 12 20 25 31 40 47 58
3 3 3 9 9 11 18 19 20
CWIP 0 0 0 0 2 4 0 1 2
Investments 0 0 0 0 0 0 0 0 0
6 7 9 11 14 16 23 27 36
Total Assets 9 10 12 20 25 31 40 47 58

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0 0 0 2 -2 2 2 1
0 0 0 -1 -3 -4 -2 4
0 0 0 -0 5 2 1 -5
Net Cash Flow 0 0 0 0 -0 0 0 0

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 56 43 59 54 49 54 54 51 54
Inventory Days 71 96 90 15 24 24 52 92 94
Days Payable 69 71 61 45 19 26 21 22 39
Cash Conversion Cycle 59 68 88 24 54 52 86 121 109
Working Capital Days 52 65 79 21 36 46 70 55 89
ROCE % 15% 14% 21% 18% 16% 15% 15%

Shareholding Pattern

Numbers in percentages

2 Recently
Oct 2018 Mar 2019 Sep 2019 Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
41.38 30.38 31.34 31.79 31.81 33.06 33.76 35.56 35.69 35.89 36.00 36.10
58.62 69.62 68.66 68.21 68.19 66.94 66.24 64.44 64.31 64.11 64.01 63.90

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