Aarvee Denims & Exports Ltd

₹ 28.2 8.90%
05 Dec 4:10 p.m.
About

Aarvee Denims & Exports Limited is engaged in the manufacturing and selling of denim and non denim fabrics. [1]

Key Points

Business Segments
The Company had two business segments as of March, 2021:
Textile - wide range of denims and non-denim fabrics, it also sources yarn from local markets for a variety of denim products, selling surplus yarn in the local market (cotton and texturised yarn) and Windmill.[1] [2][3][4]

  • Market Cap 65.6 Cr.
  • Current Price 28.2
  • High / Low 33.4 / 16.4
  • Stock P/E
  • Book Value 42.2
  • Dividend Yield 0.00 %
  • ROCE -5.99 %
  • ROE -29.5 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.67 times its book value
  • Debtor days have improved from 194 to 144 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -13.0% over past five years.
  • Company has a low return on equity of -25.1% over last 3 years.
  • Contingent liabilities of Rs.29.8 Cr.
  • Promoters have pledged 51.0% of their holding.
  • Earnings include an other income of Rs.23.6 Cr.

* 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.

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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
168 111 118 4 44 85 136 80 118 117 112 108 55
162 97 100 8 41 84 154 78 124 120 113 107 66
Operating Profit 6 14 18 -5 3 2 -17 3 -7 -3 -1 1 -11
OPM % 4% 12% 15% -130% 6% 2% -13% 3% -6% -3% -1% 1% -20%
0 1 0 0 5 5 2 4 5 2 14 6 0
Interest 13 13 14 11 14 14 12 12 11 10 10 10 11
Depreciation 10 10 10 7 8 8 7 7 7 6 6 7 7
Profit before tax -16 -8 -6 -23 -13 -15 -35 -13 -19 -18 -2 -9 -29
Tax % -3% -2% 228% -7% 13% 63% 37% 77% 35% 21% -421% -11% 39%
Net Profit -17 -8 8 -25 -12 -6 -22 -3 -12 -14 -12 -10 -17
EPS in Rs -7.09 -3.49 3.36 -10.63 -4.97 -2.42 -9.34 -1.22 -5.27 -5.98 -5.19 -4.28 -7.40
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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
495 661 723 685 746 841 844 827 752 565 265 421 392
413 578 601 609 679 764 772 747 669 529 285 431 406
Operating Profit 82 84 123 76 66 77 72 80 82 36 -20 -10 -14
OPM % 17% 13% 17% 11% 9% 9% 9% 10% 11% 6% -7% -2% -4%
4 1 2 2 3 -1 2 3 3 -0 12 25 24
Interest 19 37 38 39 35 37 38 43 49 53 51 43 42
Depreciation 24 26 31 33 31 31 33 33 34 38 28 25 25
Profit before tax 43 22 56 6 3 8 3 6 2 -56 -87 -54 -58
Tax % 22% 37% 20% 50% 95% 17% 35% 12% 37% 24% 27% 24%
Net Profit 33 14 45 3 0 7 2 6 1 -42 -64 -41 -54
EPS in Rs 14.25 5.98 19.19 1.36 0.08 3.00 0.75 2.39 0.46 -17.87 -27.36 -17.66 -22.85
Dividend Payout % 4% -0% 3% -0% -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: -4%
5 Years: -13%
3 Years: -18%
TTM: -7%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -16%
Stock Price CAGR
10 Years: -8%
5 Years: -9%
3 Years: 30%
1 Year: 26%
Return on Equity
10 Years: -3%
5 Years: -13%
3 Years: -25%
Last Year: -29%

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
23 23 23 23 23 23 23 23 23 23 23 23 23
Reserves 175 191 234 234 232 240 243 248 250 208 144 103 75
255 367 384 396 370 382 355 379 434 419 433 413 390
120 123 109 141 145 178 210 268 241 193 110 89 87
Total Liabilities 574 705 750 794 771 825 831 919 949 843 711 629 576
316 384 395 401 372 367 375 363 389 350 274 231 216
CWIP 9 8 8 0 2 1 5 -0 -0 -0 -0 1 1
Investments 0 -0 -0 -0 -0 -0 -0 0 0 -0 -0 -0 -0
249 313 347 393 397 457 451 556 560 492 437 397 358
Total Assets 574 705 750 794 771 825 831 919 949 843 711 629 576

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
60 47 53 68 47 75 110 38 51 65 45 13
-58 -82 -37 -23 -11 -38 -50 -19 -53 5 9 47
4 55 -36 -50 -36 -33 -63 -19 3 -70 -42 -63
Net Cash Flow 5 21 -19 -4 -0 4 -3 0 0 -1 12 -4

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 67 74 69 94 85 92 104 130 140 152 287 144
Inventory Days 139 108 157 164 132 127 114 146 189 234 283 204
Days Payable 75 62 55 83 74 90 109 151 167 167 160 100
Cash Conversion Cycle 131 121 170 175 143 129 109 125 161 219 410 247
Working Capital Days 86 100 116 129 112 109 103 130 160 195 362 216
ROCE % 15% 11% 15% 7% 6% 8% 6% 8% 8% -0% -7% -6%

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
65.80 65.80 65.80 65.80 65.80 65.80 65.80 65.80 65.80 65.80 65.80 65.80
2.15 2.11 2.11 2.11 2.11 2.11 2.11 2.11 2.11 2.11 2.11 2.10
32.05 32.09 32.09 32.09 32.09 32.09 32.09 32.09 32.10 32.10 32.10 32.10

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

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