AB Cotspin India Ltd
Incorporated in 1997, A B Cotspin India Ltd is in the business of manufacturing of cotton yarn, knitted fabric, cottonseed oil and oil cakes[1]
- Market Cap ₹ 252 Cr.
- Current Price ₹ 244
- High / Low ₹ 386 / 40.0
- Stock P/E 75.5
- Book Value ₹ 43.8
- Dividend Yield 0.00 %
- ROCE 5.79 %
- ROE 4.74 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 5.58 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding is low: 34.9%
- Company has a low return on equity of 13.9% over last 3 years.
- 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: Textiles Industry: Textiles - Cotton/Blended
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|
108 | 121 | 121 | 94 | 115 | 141 | 169 | 209 | |
99 | 113 | 113 | 88 | 105 | 126 | 159 | 190 | |
Operating Profit | 9 | 8 | 8 | 6 | 10 | 14 | 10 | 18 |
OPM % | 9% | 7% | 6% | 6% | 9% | 10% | 6% | 9% |
0 | 0 | -0 | 0 | 0 | 0 | 1 | 1 | |
Interest | 5 | 3 | 3 | 2 | 2 | 2 | 4 | 7 |
Depreciation | 4 | 4 | 3 | 3 | 3 | 3 | 5 | 8 |
Profit before tax | 1 | 1 | 2 | 1 | 5 | 9 | 3 | 4 |
Tax % | 14% | 11% | 34% | 28% | 29% | 25% | 25% | |
1 | 1 | 1 | 1 | 4 | 7 | 2 | 3 | |
EPS in Rs | 2.83 | 4.62 | 4.74 | 3.44 | 15.71 | 6.64 | 1.88 | 3.23 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 7% |
3 Years: | 22% |
TTM: | 40% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 11% |
3 Years: | 31% |
TTM: | -5% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 496% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 12% |
3 Years: | 14% |
Last Year: | 5% |
Balance Sheet
Figures in Rs. Crores
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|
Equity Capital | 3 | 3 | 3 | 3 | 3 | 10 | 10 | 10 |
Reserves | 13 | 13 | 15 | 15 | 19 | 28 | 32 | 35 |
28 | 42 | 34 | 29 | 36 | 31 | 98 | 92 | |
7 | 8 | 4 | 6 | 6 | 13 | 9 | 11 | |
Total Liabilities | 51 | 66 | 55 | 53 | 64 | 83 | 149 | 149 |
30 | 27 | 24 | 22 | 25 | 23 | 77 | 76 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 19 | 0 | 0 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 5 |
21 | 39 | 31 | 31 | 39 | 41 | 68 | 68 | |
Total Assets | 51 | 66 | 55 | 53 | 64 | 83 | 149 | 149 |
Cash Flows
Figures in Rs. Crores
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|
6 | 10 | 7 | -0 | 14 | -24 | ||
-0 | -0 | -1 | -5 | -15 | -41 | ||
-6 | -11 | -7 | 5 | 2 | 64 | ||
Net Cash Flow | 0 | -1 | -1 | 0 | 1 | -1 |
Ratios
Figures in Rs. Crores
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|
Debtor Days | 23 | 22 | 28 | 35 | 23 | 21 | 29 |
Inventory Days | 52 | 106 | 74 | 97 | 119 | 64 | 116 |
Days Payable | 8 | 17 | 3 | 16 | 3 | 8 | 4 |
Cash Conversion Cycle | 67 | 111 | 99 | 116 | 140 | 77 | 141 |
Working Capital Days | 46 | 76 | 68 | 89 | 106 | 48 | 128 |
ROCE % | 9% | 9% | 6% | 14% | 18% | 6% |
Business Overview:[1]
a) ABCIL is in the business of cotton ginning, manufacturing & trading of cotton yarn and fabrics both combed and karded
b) It sells its products to textile in Punjab and Haryana
c) Company is also engaged in extraction of oil and production of cakes from cotton seeds (by-product of the ginning process)
d) It manufactures yarn in various types including 100% cotton yarn of counts 20-30s, double yarn of counts 20-30s, slub yarn, etc.
e) Company produces knitted fabrics, which includes combed, carded, and slub fabrics
f) The requirement of yarn of knitted fabric manufacturing unit is met in-house