AB Cotspin India Ltd

AB Cotspin India Ltd

₹ 254 -2.80%
14 Jun 3:40 p.m.
About

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]

Key Points

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

  • Market Cap 261 Cr.
  • Current Price 254
  • High / Low 386 / 40.0
  • Stock P/E 39.0
  • Book Value 66.5
  • Dividend Yield 0.00 %
  • ROCE 12.6 %
  • ROE 15.7 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 39.7% CAGR over last 5 years

Cons

  • Stock is trading at 3.81 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 13.6% over last 3 years.

* 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

Loading peers table ...

Half Yearly Results

Figures in Rs. Crores

Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023 Mar 2024
75 63 78 71 98 111 145
69 55 72 68 90 100 130
Operating Profit 6 8 6 3 7 11 15
OPM % 8% 13% 8% 5% 7% 10% 10%
1 0 0 0 0 0 1
Interest 1 1 1 1 3 4 5
Depreciation 1 2 2 2 3 5 5
Profit before tax 4 5 4 1 2 3 6
Tax % 30% 25% 25% 40% 17% 25% 19%
3 4 3 1 1 2 5
EPS in Rs 10.97 5.26 2.86 0.56 1.31 1.92 4.59
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
108 121 121 94 115 141 169 256
99 113 113 88 105 126 159 229
Operating Profit 9 8 8 6 10 14 10 26
OPM % 9% 7% 6% 6% 9% 10% 6% 10%
0 0 -0 0 0 0 1 1
Interest 5 3 3 2 2 2 4 9
Depreciation 4 4 3 3 3 3 5 10
Profit before tax 1 1 2 1 5 9 3 8
Tax % 14% 11% 34% 28% 29% 25% 25% 21%
1 1 1 1 4 7 2 7
EPS in Rs 2.83 4.62 4.74 3.44 15.71 6.64 1.88 6.51
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 16%
3 Years: 30%
TTM: 51%
Compounded Profit Growth
10 Years: %
5 Years: 40%
3 Years: 20%
TTM: 247%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 470%
Return on Equity
10 Years: %
5 Years: 13%
3 Years: 14%
Last Year: 16%

Balance Sheet

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 3 3 3 3 3 10 10 10
Reserves 13 13 15 15 19 28 32 58
28 42 34 29 36 31 98 122
7 8 4 6 6 13 9 8
Total Liabilities 51 66 55 53 64 83 149 198
30 27 24 22 25 23 77 72
CWIP 0 0 0 0 0 19 0 0
Investments 0 0 0 0 0 0 4 1
21 39 31 31 39 41 68 125
Total Assets 51 66 55 53 64 83 149 198

Cash Flows

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
6 10 7 -0 14 -24 -32
-0 -0 -1 -5 -15 -41 -3
-6 -11 -7 5 2 64 35
Net Cash Flow 0 -1 -1 0 1 -1 -0

Ratios

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
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%

Shareholding Pattern

Numbers in percentages

Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024
34.91% 34.91% 34.91% 34.91% 34.91%
65.09% 65.09% 65.09% 65.09% 65.09%
No. of Shareholders 330286247171164

Documents