Bhartiya International Ltd

Bhartiya International Ltd

₹ 332 -2.78%
04 Mar 4:01 p.m.
About

Incorporated in 1987, Bhartiya International manufactures and trades leather products
& textile products[1]

Key Points

Business Overview:[1][2]
Company sources leather from India, Europe, Middle East, Latin America and other Asia Pacific counties, and exports leather garments and accessories to US, Canada, Switzerland, Italy, France, Spain, and Austria, etc. Besides leather products, company also trades in textile apparels for which designing, raw material procurement and marketing activities are done in-house, while production is outsourced to manufacturers in China and Bangladesh.

  • Market Cap 403 Cr.
  • Current Price 332
  • High / Low 408 / 145
  • Stock P/E 7.53
  • Book Value 320
  • Dividend Yield 0.00 %
  • ROCE 13.4 %
  • ROE 17.6 %
  • Face Value 10.0

Pros

  • Stock is trading at 1.03 times its book value
  • Company has delivered good profit growth of 30.3% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 2.36% over past five years.
  • Company has a low return on equity of 3.87% over last 3 years.
  • Contingent liabilities of Rs.147 Cr.
  • Earnings include an other income of Rs.57.0 Cr.

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
135.56 142.74 114.03 214.55 208.36 156.57 226.19 233.72 191.91 146.78 171.87 227.65 198.35
126.82 137.49 111.05 197.69 211.61 170.89 215.00 206.66 172.81 131.09 158.54 201.80 184.29
Operating Profit 8.74 5.25 2.98 16.86 -3.25 -14.32 11.19 27.06 19.10 15.69 13.33 25.85 14.06
OPM % 6.45% 3.68% 2.61% 7.86% -1.56% -9.15% 4.95% 11.58% 9.95% 10.69% 7.76% 11.36% 7.09%
1.71 10.85 1.61 15.66 13.92 2.51 0.59 1.37 0.72 54.71 0.71 0.67 0.87
Interest 3.90 6.07 6.56 5.06 5.85 5.80 7.11 9.08 12.06 8.44 9.73 10.62 10.44
Depreciation 2.57 2.83 2.98 8.87 9.85 2.11 6.21 6.17 6.30 6.54 6.54 6.34 6.58
Profit before tax 3.98 7.20 -4.95 18.59 -5.03 -19.72 -1.54 13.18 1.46 55.42 -2.23 9.56 -2.09
Tax % 47.49% -7.78% 0.20% 19.42% -14.31% -5.83% -83.12% 26.10% 35.62% 1.23% -59.19% 41.53% -55.98%
2.09 7.76 -4.94 14.98 -5.74 -20.86 -2.82 9.73 0.93 54.73 -3.54 5.58 -3.26
EPS in Rs 1.72 6.37 -4.04 12.28 -4.71 -17.08 -2.31 7.98 0.77 44.85 -2.89 4.58 -2.66
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
251 303 414 558 622 642 711 748 721 548 694 799 745
224 277 377 508 569 598 661 688 661 521 684 712 676
Operating Profit 27 26 37 50 53 44 49 60 60 28 10 87 69
OPM % 11% 9% 9% 9% 9% 7% 7% 8% 8% 5% 1% 11% 9%
2 3 4 -1 -2 6 7 13 4 5 32 52 57
Interest 10 12 16 13 13 18 23 35 29 28 29 45 39
Depreciation 3 3 4 6 6 6 7 8 10 10 24 25 26
Profit before tax 16 14 21 30 32 26 26 29 26 -6 -11 68 61
Tax % 28% 30% 31% 28% 29% 31% 33% 33% 17% -5% -49% 9%
12 10 15 21 25 18 17 20 21 -6 -17 63 54
EPS in Rs 10.94 9.17 13.12 18.73 21.09 15.37 14.34 16.23 17.43 -5.04 -13.54 51.29 43.88
Dividend Payout % 9% 11% 8% 5% 6% 8% 8% 7% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 10%
5 Years: 2%
3 Years: 3%
TTM: -8%
Compounded Profit Growth
10 Years: 20%
5 Years: 30%
3 Years: 43%
TTM: 511%
Stock Price CAGR
10 Years: 5%
5 Years: 11%
3 Years: 30%
1 Year: 64%
Return on Equity
10 Years: 6%
5 Years: 5%
3 Years: 4%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 10 11 11 11 12 12 12 12 12 12 12 12 12
Reserves 121 131 145 166 200 244 359 383 335 328 311 376 378
77 104 171 204 222 265 348 383 441 437 478 501 544
42 44 53 92 110 98 191 140 117 126 142 123 195
Total Liabilities 250 290 380 473 544 619 910 917 904 903 943 1,012 1,129
48 66 66 67 75 87 97 114 125 187 194 199 188
CWIP 9 0 4 6 9 8 25 10 11 8 8 0 2
Investments 41 41 39 38 38 43 127 123 47 38 6 54 46
151 184 272 362 422 481 661 670 721 669 735 758 894
Total Assets 250 290 380 473 544 619 910 917 904 903 943 1,012 1,129

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
2 -6 -21 -21 -12 -2 -56 8 -7 26 46 12
-8 -9 -2 -8 -14 -21 -28 -1 -12 -24 -46 -22
7 18 51 22 23 45 65 3 31 -35 16 -14
Net Cash Flow 2 4 27 -7 -2 22 -20 10 12 -32 16 -25

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 36 45 25 60 53 52 98 60 64 93 68 59
Inventory Days 242 211 238 204 243 248 280 327 369 464 401 423
Days Payable 68 56 42 57 61 51 122 83 67 113 101 74
Cash Conversion Cycle 211 200 221 207 235 249 256 304 366 444 367 408
Working Capital Days 145 150 157 153 170 190 220 222 250 339 276 268
ROCE % 13% 12% 13% 13% 12% 9% 8% 9% 7% 3% 2% 13%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
57.38% 57.36% 57.36% 57.36% 57.36% 57.36% 57.36% 57.36% 57.36% 57.36% 57.35% 57.35%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8.64% 8.61% 8.53% 8.36%
8.55% 8.65% 8.65% 8.65% 8.65% 8.64% 8.64% 8.64% 0.00% 0.00% 0.00% 0.00%
0.42% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
33.65% 34.00% 34.00% 34.00% 34.00% 34.00% 33.99% 34.00% 34.00% 34.03% 34.13% 34.29%
No. of Shareholders 4,9345,6865,6926,5176,5316,6906,4236,2396,1226,4376,1576,120

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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