Bannari Amman Sugars Ltd
Bannari Amman Sugars Limited is one of the leading sugar manufacturers in India. It has three sugar factories with cogeneration plants in Tamilnadu and two sugar factories with co-generation plants in Karnataka. It has two distillery units one in Tamilnadu and another in Karnataka. It has a Granite Processing unit in Tamilnadu. The company also has windmills which are located in the southern part of Tamilnadu. [1]
- Market Cap ₹ 3,159 Cr.
- Current Price ₹ 2,518
- High / Low ₹ 3,086 / 2,355
- Stock P/E 20.6
- Book Value ₹ 1,275
- Dividend Yield 0.50 %
- ROCE 11.9 %
- ROE 9.64 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Debtor days have improved from 40.4 to 20.4 days.
- Company's working capital requirements have reduced from 214 days to 146 days
Cons
- Company has a low return on equity of 7.50% over last 3 years.
- Company might be capitalizing the interest cost
- Dividend payout has been low at 13.4% of profits 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.
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,182 | 1,337 | 651 | 930 | 1,456 | 1,752 | 1,481 | 1,125 | 1,609 | 1,563 | 1,998 | 2,526 | 2,620 | |
956 | 1,052 | 503 | 802 | 1,251 | 1,404 | 1,270 | 943 | 1,378 | 1,352 | 1,780 | 2,221 | 2,283 | |
Operating Profit | 227 | 285 | 148 | 128 | 204 | 348 | 211 | 182 | 231 | 211 | 218 | 304 | 337 |
OPM % | 19% | 21% | 23% | 14% | 14% | 20% | 14% | 16% | 14% | 13% | 11% | 12% | 13% |
3 | -6 | -2 | 16 | 3 | 6 | 5 | 8 | 4 | 9 | 3 | 39 | 7 | |
Interest | 51 | 45 | 62 | 93 | 116 | 97 | 34 | 30 | 44 | 39 | 32 | 49 | 41 |
Depreciation | 67 | 60 | 52 | 51 | 62 | 69 | 70 | 67 | 65 | 66 | 68 | 74 | 66 |
Profit before tax | 112 | 174 | 32 | 0 | 30 | 187 | 112 | 93 | 126 | 115 | 122 | 220 | 237 |
Tax % | 6% | 18% | 11% | -209% | -7% | 22% | 22% | 18% | 24% | 20% | 34% | 35% | |
106 | 142 | 29 | 1 | 32 | 145 | 87 | 76 | 96 | 92 | 80 | 143 | 153 | |
EPS in Rs | 92.37 | 124.56 | 25.08 | 0.90 | 27.73 | 115.77 | 69.59 | 60.56 | 76.27 | 73.48 | 63.78 | 114.35 | 122.15 |
Dividend Payout % | 11% | 10% | 50% | 278% | 27% | 11% | 14% | 17% | 13% | 14% | 16% | 11% |
Compounded Sales Growth | |
---|---|
10 Years: | 7% |
5 Years: | 11% |
3 Years: | 16% |
TTM: | 24% |
Compounded Profit Growth | |
---|---|
10 Years: | 0% |
5 Years: | 10% |
3 Years: | 14% |
TTM: | 44% |
Stock Price CAGR | |
---|---|
10 Years: | 13% |
5 Years: | 11% |
3 Years: | 22% |
1 Year: | -17% |
Return on Equity | |
---|---|
10 Years: | 7% |
5 Years: | 7% |
3 Years: | 8% |
Last Year: | 10% |
Balance Sheet
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 11 | 11 | 11 | 11 | 11 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
Reserves | 804 | 931 | 943 | 940 | 920 | 1,055 | 1,123 | 1,183 | 1,262 | 1,344 | 1,411 | 1,539 | 1,587 |
495 | 458 | 1,052 | 1,221 | 1,534 | 1,038 | 508 | 769 | 996 | 872 | 961 | 581 | 374 | |
252 | 315 | 274 | 232 | 355 | 297 | 143 | 237 | 164 | 163 | 184 | 226 | 262 | |
Total Liabilities | 1,563 | 1,715 | 2,281 | 2,405 | 2,821 | 2,402 | 1,786 | 2,202 | 2,434 | 2,390 | 2,569 | 2,359 | 2,235 |
686 | 669 | 632 | 917 | 1,138 | 1,103 | 1,082 | 1,026 | 1,004 | 954 | 1,049 | 1,079 | 1,061 | |
CWIP | 23 | 33 | 268 | 22 | 15 | 34 | 4 | 24 | 90 | 145 | 61 | 22 | 64 |
Investments | 1 | 0 | 0 | 0 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 2 | 3 |
853 | 1,013 | 1,381 | 1,466 | 1,667 | 1,263 | 699 | 1,151 | 1,340 | 1,291 | 1,458 | 1,257 | 1,107 | |
Total Assets | 1,563 | 1,715 | 2,281 | 2,405 | 2,821 | 2,402 | 1,786 | 2,202 | 2,434 | 2,390 | 2,569 | 2,359 | 2,235 |
Cash Flows
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
171 | 158 | -255 | 20 | 178 | 645 | 588 | -192 | -57 | 236 | 33 | 502 | |
-40 | -57 | -253 | -74 | -275 | -52 | -16 | -27 | -106 | -61 | -75 | -57 | |
-129 | -103 | 509 | 61 | 107 | -604 | -579 | 219 | 167 | -179 | 42 | -443 | |
Net Cash Flow | 1 | -1 | 0 | 7 | 10 | -11 | -6 | 0 | 4 | -5 | -0 | 3 |
Ratios
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 29 | 27 | 23 | 16 | 33 | 24 | 17 | 42 | 43 | 38 | 63 | 20 |
Inventory Days | 320 | 348 | 1,542 | 757 | 485 | 296 | 188 | 529 | 330 | 339 | 255 | 205 |
Days Payable | 48 | 60 | 97 | 39 | 50 | 27 | 28 | 95 | 21 | 20 | 22 | 17 |
Cash Conversion Cycle | 301 | 315 | 1,468 | 734 | 468 | 293 | 176 | 476 | 352 | 356 | 296 | 209 |
Working Capital Days | 165 | 178 | 602 | 465 | 278 | 164 | 114 | 274 | 255 | 260 | 234 | 146 |
ROCE % | 13% | 17% | 6% | 4% | 6% | 12% | 8% | 7% | 8% | 7% | 7% | 12% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 21 Nov
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 4 Nov
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
3 Nov - Advertisements published in Business Standard and Makkal Kual newspapers on 02.11.2023 in connection with the mandatory transfer of equity shares of the company to Investor …
- Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Oct
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 26 Oct
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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FY22 Business Segments
Sugar (84% of revenue)- [1]
It has an installed capacity of 23700 Tons per day (TCD) for cane crushing across all 5 units. 3 facilities are located in Tamilnadu and 2 in Karnataka. It established its first sugar factory in the year 1986 with a crushing capacity of 1250 TCPD.[2][3] In the sugar business it sells sugar (77% revenue) and other by-products like Molasses, Bagasse, Bioproducts, fertilizer & pesticides. (together generates 7% of total revenue). [4]