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 ₹ 448 Cr.
- Current Price ₹ 435
- High / Low ₹ 516 / 114
- Stock P/E 51.2
- Book Value ₹ 70.4
- Dividend Yield 0.00 %
- ROCE 10.8 %
- ROE 12.1 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 39.7% CAGR over last 5 years
Cons
- Stock is trading at 6.18 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 34.9%
- Company has a low return on equity of 12.2% over last 3 years.
- Debtor days have increased from 34.8 to 54.5 days.
- Working capital days have increased from 112 days to 162 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: Textiles Industry: Textiles - Cotton/Blended
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 108 | 121 | 121 | 94 | 115 | 141 | 169 | 256 | 299 | |
| 99 | 113 | 113 | 88 | 105 | 126 | 159 | 229 | 270 | |
| Operating Profit | 9 | 8 | 8 | 6 | 10 | 14 | 10 | 26 | 29 |
| OPM % | 9% | 7% | 6% | 6% | 9% | 10% | 6% | 10% | 10% |
| 0 | 0 | -0 | 0 | 0 | 0 | 1 | 1 | 2 | |
| Interest | 5 | 3 | 3 | 2 | 2 | 2 | 4 | 9 | 10 |
| Depreciation | 4 | 4 | 3 | 3 | 3 | 3 | 5 | 10 | 9 |
| Profit before tax | 1 | 1 | 2 | 1 | 5 | 9 | 3 | 8 | 11 |
| Tax % | 14% | 11% | 34% | 28% | 29% | 25% | 25% | 21% | |
| 1 | 1 | 1 | 1 | 4 | 7 | 2 | 7 | 9 | |
| EPS in Rs | 2.83 | 4.62 | 4.74 | 3.44 | 15.71 | 6.64 | 1.88 | 6.51 | 8.51 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 30% |
| TTM: | 43% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 40% |
| 3 Years: | 20% |
| TTM: | 163% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 273% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 12% |
| Last Year: | 12% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 10 | 10 | 10 | 10 |
| Reserves | 13 | 13 | 15 | 15 | 19 | 28 | 32 | 58 | 62 |
| 28 | 42 | 34 | 29 | 36 | 31 | 98 | 122 | 94 | |
| 7 | 8 | 4 | 6 | 6 | 13 | 9 | 8 | 9 | |
| Total Liabilities | 51 | 66 | 55 | 53 | 64 | 83 | 149 | 198 | 176 |
| 30 | 27 | 24 | 22 | 25 | 23 | 77 | 72 | 69 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 19 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 1 | 1 |
| 21 | 39 | 31 | 31 | 39 | 41 | 68 | 125 | 106 | |
| Total Assets | 51 | 66 | 55 | 53 | 64 | 83 | 149 | 198 | 176 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| 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
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 54 |
| Inventory Days | 52 | 106 | 74 | 97 | 119 | 64 | 116 | 121 |
| Days Payable | 8 | 17 | 3 | 16 | 3 | 8 | 4 | 2 |
| Cash Conversion Cycle | 67 | 111 | 99 | 116 | 140 | 77 | 141 | 174 |
| Working Capital Days | 46 | 76 | 68 | 89 | 106 | 48 | 128 | 162 |
| ROCE % | 9% | 9% | 6% | 14% | 18% | 6% | 11% |
Documents
Announcements
-
Press Release
11 December 2024 - B Cotspin India Limited has informed regarding a press release dated December 11, 2024, titled "Receipt of an Order".
-
Press Release
5 December 2024 - B Cotspin India Limited has informed regarding a press release dated December 05, 2024, titled "Receipt of an order".
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Financial Result Updates
13 November 2024 - B Cotspin India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2024.
-
Board Meeting Intimation
8 November 2024 - B COTSPIN INDIA LIMITED has informed about Board Meeting to be held on 13-Nov-2024 to inter-alia consider and approve the Unaudited Financial results of the …
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Updates
11 October 2024 - B Cotspin India Limited has informed regarding 'Non Applicability of Corporate Governance Report for the quarter ended on September 30, 2024'.
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