Bhartiya International Ltd

About [ edit ]

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

  • Market Cap 249 Cr.
  • Current Price 204
  • High / Low 252 / 80.0
  • Stock P/E
  • Book Value 270
  • Dividend Yield 0.00 %
  • ROCE 6.95 %
  • ROE 5.74 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.76 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 5.25% over past five years.
  • Company has a low return on equity of 5.54% for last 3 years.
  • Contingent liabilities of Rs.98.41 Cr.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.7.90 Cr.
  • Dividend payout has been low at 5.25% of profits over last 3 years
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
143.68 245.13 205.01 154.18 170.41 246.50 176.59 127.20 63.77 206.32 135.56
134.69 222.45 189.54 146.91 156.92 226.78 167.48 116.77 86.03 184.17 126.82
Operating Profit 8.99 22.68 15.47 7.27 13.49 19.72 9.11 10.43 -22.26 22.15 8.74
OPM % 6.26% 9.25% 7.55% 4.72% 7.92% 8.00% 5.16% 8.20% -34.91% 10.74% 6.45%
Other Income 4.02 3.71 -0.71 6.55 0.96 1.34 1.13 4.34 0.86 0.99 1.71
Interest 5.49 9.44 6.60 9.00 5.90 6.56 5.75 6.71 5.67 8.22 3.90
Depreciation 1.75 1.80 2.02 2.55 2.20 2.23 2.14 3.40 2.53 2.40 2.57
Profit before tax 5.77 15.15 6.14 2.27 6.35 12.27 2.35 4.66 -29.60 12.52 3.98
Tax % 36.22% 29.77% 22.48% 69.60% 41.26% 7.01% 28.51% 4.29% 15.00% 27.08% 47.49%
Net Profit 3.67 10.65 4.77 0.70 3.72 11.40 1.68 4.46 -25.15 9.14 2.10
EPS in Rs 3.01 8.74 3.91 0.57 3.05 9.35 1.38 3.66 -20.61 7.49 1.72

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
169 192 179 251 303 414 558 622 642 711 748 721 533
161 188 177 224 277 377 509 569 598 661 688 661 514
Operating Profit 8 4 3 27 26 37 49 53 44 49 60 60 19
OPM % 5% 2% 1% 11% 9% 9% 9% 9% 7% 7% 8% 8% 4%
Other Income 12 14 18 2 3 4 -0 -2 6 7 13 4 8
Interest 12 6 8 10 12 16 13 13 18 23 35 29 24
Depreciation 2 3 3 3 3 4 6 6 6 7 8 10 11
Profit before tax 6 9 10 16 14 21 30 32 26 26 29 26 -8
Tax % 51% 42% 34% 28% 30% 31% 28% 29% 31% 33% 33% 17%
Net Profit 2 5 6 11 10 15 21 25 18 17 20 21 -9
EPS in Rs 2.82 5.30 6.74 10.94 9.17 13.12 18.73 21.09 15.37 14.34 16.23 17.43 -7.74
Dividend Payout % 35% 19% 15% 9% 11% 8% 5% 6% 8% 8% 7% 0%
Compounded Sales Growth
10 Years:14%
5 Years:5%
3 Years:4%
TTM:-29%
Compounded Profit Growth
10 Years:17%
5 Years:-2%
3 Years:6%
TTM:-154%
Stock Price CAGR
10 Years:13%
5 Years:-17%
3 Years:-20%
1 Year:115%
Return on Equity
10 Years:8%
5 Years:7%
3 Years:6%
Last Year:6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 89 96 106 120 131 145 163 200 222 359 383 335 317
Borrowings 64 46 66 77 104 171 204 222 265 348 383 441 444
41 28 33 43 44 53 95 110 120 191 140 117 179
Total Liabilities 202 179 215 250 290 380 473 544 619 910 917 904 953
32 33 46 48 66 66 67 75 87 97 114 125 120
CWIP 5 10 3 9 0 4 6 9 8 25 10 11 13
Investments 44 45 43 41 41 39 38 38 43 127 123 47 32
121 91 123 151 184 272 362 422 481 661 670 721 788
Total Assets 202 179 215 250 290 380 473 544 619 910 917 904 953

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
19 25 -13 2 -6 -21 -21 -12 -2 -56 8 -7
-14 -10 -6 -8 -9 -2 -8 -14 -21 -28 -1 -12
2 -18 16 7 18 51 22 23 45 65 3 31
Net Cash Flow 6 -3 -3 2 4 27 -7 -2 22 -20 10 12

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 % 13% 10% 10% 14% 12% 13% 13% 13% 9% 8% 9% 7%
Debtor Days 31 20 27 36 45 25 60 53 52 98 60 64
Inventory Turnover 1.80 2.03 1.70 1.69 1.87 1.87 1.94 1.72 1.55 1.45 1.21 1.03

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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