AKI India Ltd

AKI India Ltd

₹ 23.5 -1.34%
12 Jul - close price
About

Incorporated in 1994, AKI India Ltd designs, manufactures and exports leather products[1]

Key Points

Business Overview:[1][2]
AKIIL processes hides into finished leather and upholstery, and manufactures leather products such as footwear, horse bridles, browbands, crown pieces, pony articles and saddle girths, etc. It also designs and manufactures leather products for equestrian sports, horse covers, leather bags, belts and finished leather. Company takes technical assistance from Horse Riding Group from Germany for making of Leather Saddlery & Harness Goods

  • Market Cap 201 Cr.
  • Current Price 23.5
  • High / Low 32.5 / 10.6
  • Stock P/E 148
  • Book Value 5.99
  • Dividend Yield 0.00 %
  • ROCE 6.00 %
  • ROE 3.65 %
  • Face Value 2.00

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 3.92 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 10.3% over past five years.
  • Company has a low return on equity of 5.86% over last 3 years.
  • Earnings include an other income of Rs.3.00 Cr.
  • Promoter holding has decreased over last 3 years: -18.6%
  • Working capital days have increased from 162 days to 230 days

* 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: Leather Industry: Leather / Leather Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
21.49 18.92 11.85 16.87 12.23 14.52 13.19 16.01 17.57 18.06
21.25 14.46 11.70 15.58 11.52 13.66 12.54 15.41 17.12 17.26
Operating Profit 0.24 4.46 0.15 1.29 0.71 0.86 0.65 0.60 0.45 0.80
OPM % 1.12% 23.57% 1.27% 7.65% 5.81% 5.92% 4.93% 3.75% 2.56% 4.43%
2.06 1.45 0.38 0.68 0.79 0.50 0.73 0.59 0.94 0.75
Interest 0.61 0.42 0.33 0.44 0.55 0.67 0.53 0.44 0.49 0.33
Depreciation 0.92 0.43 0.46 0.47 0.48 0.48 0.40 0.47 0.47 0.51
Profit before tax 0.77 5.06 -0.26 1.06 0.47 0.21 0.45 0.28 0.43 0.71
Tax % 27.27% 33.20% 0.00% 23.58% 38.30% -9.52% 31.11% 32.14% 32.56% 19.72%
0.55 3.38 -0.26 0.81 0.29 0.23 0.31 0.19 0.29 0.57
EPS in Rs 0.08 0.50 -0.04 0.12 0.04 0.03 0.05 0.03 0.04 0.07
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
10.97 12.76 29.99 38.64 40.24 42.12 39.74 41.04 44.79 60.90 55.44 64.84
10.57 12.75 29.50 37.58 39.25 41.29 38.67 38.98 43.22 58.57 52.43 62.33
Operating Profit 0.40 0.01 0.49 1.06 0.99 0.83 1.07 2.06 1.57 2.33 3.01 2.51
OPM % 3.65% 0.08% 1.63% 2.74% 2.46% 1.97% 2.69% 5.02% 3.51% 3.83% 5.43% 3.87%
0.00 0.86 1.76 2.01 2.36 3.16 3.19 2.05 3.73 3.04 2.35 3.00
Interest 0.00 0.22 1.59 1.59 1.71 1.34 1.50 1.30 1.33 1.39 1.99 1.79
Depreciation 0.00 0.27 1.38 1.39 1.39 1.42 1.63 1.75 2.27 2.23 1.90 1.85
Profit before tax 0.40 0.38 -0.72 0.09 0.25 1.23 1.13 1.06 1.70 1.75 1.47 1.87
Tax % 0.00% 23.68% 11.11% -66.67% 36.00% 73.98% 55.75% 29.25% 48.24% 5.71% 27.21% 27.27%
0.40 0.29 -0.63 0.14 0.15 0.31 0.50 0.75 0.89 1.65 1.08 1.36
EPS in Rs 0.71 0.52 -0.64 0.14 0.05 0.06 0.07 0.11 0.13 0.25 0.16 0.16
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: 10%
3 Years: 13%
TTM: 17%
Compounded Profit Growth
10 Years: %
5 Years: 22%
3 Years: 40%
TTM: 26%
Stock Price CAGR
10 Years: %
5 Years: 78%
3 Years: 137%
1 Year: 4%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 6%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 0.87 0.87 1.50 1.50 5.00 7.50 10.30 10.30 10.30 10.30 13.39 17.15
Reserves 1.29 1.87 1.33 1.48 1.63 1.01 1.64 2.40 2.53 3.77 1.54 34.26
5.37 8.27 21.17 22.76 20.89 17.68 21.37 21.63 27.87 29.43 29.51 18.07
4.51 4.10 12.65 13.36 12.41 10.25 12.16 16.05 16.17 16.99 17.31 32.85
Total Liabilities 12.04 15.11 36.65 39.10 39.93 36.44 45.47 50.38 56.87 60.49 61.75 102.33
2.16 4.97 9.34 9.88 9.34 7.14 12.29 10.85 15.12 13.73 12.16 12.73
CWIP 0.00 0.23 1.11 1.87 2.00 4.00 0.91 7.03 2.31 2.51 4.47 7.00
Investments 1.00 0.95 0.95 0.95 0.95 1.09 2.54 2.54 2.49 2.48 2.48 2.48
8.88 8.96 25.25 26.40 27.64 24.21 29.73 29.96 36.95 41.77 42.64 80.12
Total Assets 12.04 15.11 36.65 39.10 39.93 36.44 45.47 50.38 56.87 60.49 61.75 102.33

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0.00 1.04 -0.67 3.14 0.00 7.38 -4.92 0.76 3.67 -17.59
0.00 -2.68 -0.98 0.48 0.00 -6.37 -1.68 -0.99 -2.40 -17.80
0.00 1.26 1.37 -4.15 0.00 -0.75 6.49 0.34 -1.10 35.65
Net Cash Flow 0.00 -0.39 -0.28 -0.53 0.00 0.26 -0.10 0.11 0.17 0.27

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 137.75 151.32 144.10 118.55 106.22 86.83 98.00 83.25 131.20 106.26 115.68 103.30
Inventory Days 89.78 134.46 120.83 134.39 119.57 166.35 197.35 161.29 131.86 167.41 196.65
Days Payable 133.93 180.30 148.37 132.16 103.91 134.78 186.18 159.46 124.33 145.23 145.81
Cash Conversion Cycle 137.75 107.17 98.26 91.02 108.44 102.48 129.57 94.41 133.03 113.79 137.86 154.14
Working Capital Days 143.07 122.72 118.18 90.59 111.93 107.28 146.96 97.92 151.66 125.08 132.20 229.73
ROCE % 5.21% 5.50% 6.76% 7.36% 9.68% 8.84% 6.98% 6.08% 6.51% 7.87% 6.00%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
72.81% 72.81% 72.81% 72.81% 72.81% 72.81% 72.81% 68.94% 68.64% 68.64% 53.57% 54.24%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.50% 3.39%
27.19% 27.19% 27.19% 27.20% 27.20% 27.20% 27.20% 31.06% 31.36% 31.36% 42.93% 42.37%
No. of Shareholders 484749611231301502,6775,4694,4094,9676,853

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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