Bhartiya International Ltd

About [ edit ]

Bhartiya International is engaged in the business of manufacturing and trading of leather products & textile products.

  • Market Cap 296 Cr.
  • Current Price 243
  • High / Low 265 / 101
  • Stock P/E 134
  • Book Value 236
  • Dividend Yield 0.00 %
  • ROCE 7.98 %
  • ROE 7.70 %
  • Face Value 10.0

Pros

  • Stock is trading at 1.03 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 6.27% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 6.49% for last 3 years.
  • Contingent liabilities of Rs.98.41 Cr.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
115.63 128.77 193.86 164.48 122.18 130.87 204.93 143.15 95.72 41.73 159.99 99.65
106.19 116.89 172.10 152.92 110.90 117.45 181.83 133.81 87.98 57.14 131.34 89.52
Operating Profit 9.44 11.88 21.76 11.56 11.28 13.42 23.10 9.34 7.74 -15.41 28.65 10.13
OPM % 8.16% 9.23% 11.22% 7.03% 9.23% 10.25% 11.27% 6.52% 8.09% -36.93% 17.91% 10.17%
Other Income -0.51 1.31 0.64 0.75 1.43 0.76 0.77 0.79 0.77 0.75 0.75 0.74
Interest 5.03 5.10 8.95 6.21 8.51 5.66 6.26 5.70 5.34 5.42 8.09 3.49
Depreciation 1.51 1.62 1.67 1.87 1.77 1.90 1.97 1.98 2.88 2.17 2.04 2.20
Profit before tax 2.39 6.47 11.78 4.23 2.43 6.62 15.64 2.45 0.29 -22.25 19.27 5.18
Tax % 43.93% 31.53% 36.84% 33.81% 35.39% 33.99% 5.05% 24.08% -48.28% 20.81% 16.35% 36.87%
Net Profit 1.34 4.43 7.45 2.80 1.57 4.37 14.84 1.86 0.44 -17.62 16.12 3.27
EPS in Rs 1.10 3.64 6.11 2.30 1.29 3.58 12.17 1.52 0.36 -14.44 13.21 2.68

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
140 164 167 207 247 319 424 445 473 518 609 575 397
135 166 155 187 224 293 390 405 438 476 550 517 366
Operating Profit 6 -1 12 20 23 26 34 40 35 42 59 58 31
OPM % 4% -1% 7% 10% 9% 8% 8% 9% 7% 8% 10% 10% 8%
Other Income 11 15 2 2 2 7 3 3 6 5 4 3 3
Interest 10 4 4 9 11 17 11 16 16 20 31 27 22
Depreciation 1 1 1 2 2 3 4 4 5 6 7 9 9
Profit before tax 5 8 8 11 12 13 21 23 19 20 25 25 2
Tax % 50% 36% 35% 35% 32% 35% 34% 36% 35% 36% 35% 14%
Net Profit 3 5 6 7 8 9 14 15 12 13 16 22 2
EPS in Rs 3.46 6.27 5.85 7.04 7.50 7.81 12.55 12.61 10.63 10.78 13.33 17.63 1.81
Dividend Payout % 29% 16% 17% 14% 13% 13% 8% 10% 11% 11% 9% 0%
Compounded Sales Growth
10 Years:13%
5 Years:6%
3 Years:7%
TTM:-34%
Compounded Profit Growth
10 Years:15%
5 Years:9%
3 Years:21%
TTM:-90%
Stock Price CAGR
10 Years:16%
5 Years:-13%
3 Years:-14%
1 Year:122%
Return on Equity
10 Years:7%
5 Years:7%
3 Years:6%
Last Year:8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
8 9 9 10 11 11 11 12 12 12 12 12 12
Reserves 94 101 108 118 128 136 149 176 194 238 257 277 276
Borrowings 56 38 63 68 98 151 192 220 258 328 341 405 404
40 28 35 40 49 51 66 87 101 118 110 75 124
Total Liabilities 198 176 216 237 286 348 419 495 565 696 720 770 816
23 24 38 40 56 56 60 69 82 87 104 112 108
CWIP 4 9 2 8 0 4 6 9 6 20 3 3 3
Investments 70 72 71 70 69 60 62 61 71 72 66 66 66
100 72 105 119 161 229 291 357 406 517 547 589 640
Total Assets 198 176 216 237 286 348 419 495 565 696 720 770 816

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
26 18 -18 4 -14 -40 -27 -23 2 -49 23 -7
-22 -8 -5 -6 -8 6 -5 -14 -24 -20 2 -8
3 -17 23 2 24 42 30 34 40 52 -17 39
Net Cash Flow 7 -7 1 -0 3 8 -1 -3 18 -17 8 23

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 12% 8% 7% 11% 11% 12% 10% 10% 8% 8% 9% 8%
Debtor Days 18 9 18 12 40 21 44 47 45 68 43 49
Inventory Turnover 2.04 2.70 2.22 1.89 1.87 1.59 1.53 1.19 1.12 1.00 0.96 0.80

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
47.57 47.56 47.55 47.52 47.51 47.51 47.51 50.48 52.41 57.38 57.38 57.38
0.21 0.21 0.28 6.12 8.40 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.26 0.24 0.23 0.23 0.19 8.59 8.60 8.55 8.55 8.55 8.55 8.55
0.34 0.33 0.33 0.33 0.33 0.34 0.35 0.35 0.35 0.35 0.42 0.42
51.62 51.66 51.61 45.81 43.58 43.57 43.54 40.61 38.69 33.71 33.65 33.65

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