Banaras Beads Ltd

About

Banaras Beads is engaged in the business of Handicraft items like Glass Beads Necklaces, Imitation Jewellary.

  • Market Cap 42.0 Cr.
  • Current Price 63.2
  • High / Low 100 / 44.0
  • Stock P/E 20.0
  • Book Value 75.4
  • Dividend Yield 0.00 %
  • ROCE 6.23 %
  • ROE 4.61 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 0.84 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of -3.72% over past five years.
  • Company has a low return on equity of 4.15% for last 3 years.
  • Earnings include an other income of Rs.1.62 Cr.
  • Debtor days have increased from 22.22 to 47.79 days.
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Quarterly Results

Figures in Rs. Crores

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
4.21 3.15 4.81 3.70 10.27 6.26 5.55 3.97 6.70 6.21 3.59 3.39
3.64 2.79 3.95 3.11 9.00 5.48 4.41 3.15 5.57 5.11 3.27 3.12
Operating Profit 0.57 0.36 0.86 0.59 1.27 0.78 1.14 0.82 1.13 1.10 0.32 0.27
OPM % 13.54% 11.43% 17.88% 15.95% 12.37% 12.46% 20.54% 20.65% 16.87% 17.71% 8.91% 7.96%
Other Income 0.26 0.24 0.21 0.22 0.21 0.22 0.26 0.35 0.38 0.29 0.46 0.49
Interest 0.02 0.13 0.13 0.03 0.01 0.01 0.06 0.01 0.05 0.12 0.03 0.03
Depreciation 0.36 0.38 0.38 0.32 0.30 0.36 0.36 0.37 0.37 0.37 0.35 0.32
Profit before tax 0.45 0.09 0.56 0.46 1.17 0.63 0.98 0.79 1.09 0.90 0.40 0.41
Tax % 22.22% 33.33% 28.57% 26.09% 24.79% 31.75% 29.59% 22.78% 20.18% 33.33% 20.00% 24.39%
Net Profit 0.35 0.07 0.40 0.35 0.88 0.42 0.69 0.61 0.87 0.60 0.31 0.32
EPS in Rs 0.53 0.11 0.60 0.53 1.33 0.63 1.04 0.92 1.31 0.90 0.47 0.48

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
33.27 38.63 33.86 27.68 26.57 23.57 24.74 27.32 23.78 17.31 25.78 20.47 19.89
29.63 32.46 28.30 23.62 21.79 19.59 21.98 23.58 20.50 14.74 21.91 17.12 17.07
Operating Profit 3.64 6.17 5.56 4.06 4.78 3.98 2.76 3.74 3.28 2.57 3.87 3.35 2.82
OPM % 10.94% 15.97% 16.42% 14.67% 17.99% 16.89% 11.16% 13.69% 13.79% 14.85% 15.01% 16.37% 14.18%
Other Income 1.65 0.32 1.56 1.67 1.22 1.19 6.30 1.32 0.96 0.84 0.82 1.48 1.62
Interest 0.11 0.18 0.32 0.81 1.04 0.19 0.67 0.15 0.08 0.30 0.11 0.20 0.23
Depreciation 0.50 0.76 0.83 0.89 1.46 2.35 2.13 2.10 1.84 1.52 1.35 1.46 1.41
Profit before tax 4.68 5.55 5.97 4.03 3.50 2.63 6.26 2.81 2.32 1.59 3.23 3.17 2.80
Tax % 2.99% 10.81% 20.77% 17.87% 26.29% 38.78% 30.99% 40.57% 40.52% 27.67% 27.55% 24.61%
Net Profit 4.54 4.95 4.73 3.31 2.58 1.61 4.32 1.67 1.38 1.16 2.34 2.39 2.10
EPS in Rs 6.84 7.46 7.13 4.99 3.89 2.43 6.51 2.52 2.08 1.75 3.53 3.60 3.16
Dividend Payout % 0.00% 0.00% 55.90% 49.92% 51.24% 41.06% 38.25% 39.58% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years:-6%
5 Years:-4%
3 Years:-5%
TTM:-24%
Compounded Profit Growth
10 Years:-8%
5 Years:17%
3 Years:18%
TTM:-19%
Stock Price CAGR
10 Years:7%
5 Years:9%
3 Years:10%
1 Year:21%
Return on Equity
10 Years:5%
5 Years:4%
3 Years:4%
Last Year:5%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
6.61 6.61 6.61 6.61 6.61 6.61 6.61 6.61 6.61 6.61 6.61 6.61
Reserves 25.52 28.62 30.29 31.45 32.50 33.25 35.57 37.01 37.60 38.75 41.05 43.43
Borrowings 2.14 5.93 6.37 4.81 0.44 14.94 5.09 1.10 1.90 0.84 0.00 4.33
5.51 3.71 3.90 3.32 5.34 3.86 5.21 3.07 2.74 1.91 2.16 1.72
Total Liabilities 39.78 44.87 47.17 46.19 44.89 58.66 52.48 47.79 48.85 48.11 49.82 56.09
3.57 5.45 4.95 11.07 14.10 14.13 13.78 12.61 11.26 9.80 19.35 18.16
CWIP 12.84 0.99 2.88 1.70 0.14 0.00 0.00 0.00 8.84 9.04 0.00 0.00
Investments 0.87 0.47 0.57 0.12 0.11 6.19 3.67 3.19 3.12 3.15 4.89 3.12
22.50 37.96 38.77 33.30 30.54 38.34 35.03 31.99 25.63 26.12 25.58 34.81
Total Assets 39.78 44.87 47.17 46.19 44.89 58.66 52.48 47.79 48.85 48.11 49.82 56.09

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
3.15 2.82 3.16 -3.47 7.55 1.00 2.72 5.49 4.43 0.33 3.64 -5.72
-3.63 -3.59 -0.75 8.04 -1.75 -7.34 3.79 0.72 -8.37 0.51 -2.85 2.89
2.13 3.89 -1.71 -4.72 -4.58 12.87 -12.96 -4.06 0.08 -1.14 -0.90 4.27
Net Cash Flow 1.65 3.12 0.70 -0.15 1.22 6.53 -6.45 2.15 -3.86 -0.30 -0.11 1.44

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 23.48 22.39 14.34 13.32 9.07 8.52 19.77 9.62 12.13 14.76 4.11 47.79
Inventory Days 219.92 190.46 153.35 510.31 300.16 550.47 468.58 317.59 442.72 857.06 482.69
Days Payable 58.45 22.98 10.25 23.00 15.84 11.46 31.57 23.01 10.70 16.82 5.54
Cash Conversion Cycle 184.96 189.88 157.43 500.62 293.38 547.53 456.78 304.20 444.15 855.01 481.25 47.79
Working Capital Days 97.64 107.71 123.21 243.42 173.91 241.27 262.02 213.50 215.65 329.58 211.38 412.61
ROCE % 15.40% 15.17% 12.98% 11.28% 11.02% 5.96% 4.21% 6.26% 5.26% 4.09% 7.31% 6.23%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
57.80 57.80 57.80 57.80 57.80 57.80 57.80 57.80 57.80 57.80 57.80 57.80
42.20 42.20 42.20 42.20 42.20 42.20 42.20 42.20 42.20 42.20 42.20 42.20

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