Bombay Dyeing & Manufacturing Company Ltd

Bombay Dyeing& Manufacturing Company is currently engaged primarily in the business of Real Estate Development, Polyester Staple Fibre and Retail / Textile.(Source : 201903 Annual Report Page No: 69)

Pros:
Company is expected to give good quarter
Company has good consistent profit growth of 118.88% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 74.97%
Company has been maintaining a healthy dividend payout of 17.60%
Cons:
Stock is trading at 9.86 times its book value
Tax rate seems low
** Remarks:
Some businesses are provided tax benefits to encourage their development
Return on equity is exceptional

Peer Comparison Sector: Textiles // Industry: Textiles - Processing

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
485 460 526 592 690 619 758 397 833 413 2,786 649
479 362 416 513 582 509 529 390 475 451 1,401 516
Operating Profit 6 99 110 79 108 110 229 7 358 -38 1,385 133
OPM % 1% 21% 21% 13% 16% 18% 30% 2% 43% -9% 50% 20%
Other Income 49 9 -42 3 64 8 -124 2 2 17 22 25
Interest 84 105 93 102 111 104 93 97 106 131 139 138
Depreciation 8 8 8 7 8 7 7 7 7 7 8 8
Profit before tax -37 -6 -33 -27 53 6 5 -96 246 -159 1,261 12
Tax % -0% -0% -90% -22% 0% 45% -121% 2% 0% -0% 1% -134%
Net Profit -37 -6 -63 -33 53 3 11 -94 246 -159 1,253 28
EPS in Rs -1.77 -0.27 -3.02 -1.58 2.56 0.16 0.53 -4.54 11.92 -7.72 60.68 1.34
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
923 1,258 1,591 1,854 2,225 2,325 2,654 2,376 1,843 1,924 2,662 4,430 4,681
861 1,278 1,355 1,638 1,963 2,034 2,410 2,122 1,651 1,691 2,077 2,724 2,844
Operating Profit 61 -20 236 215 262 291 244 254 192 232 585 1,706 1,837
OPM % 7% -2% 15% 12% 12% 13% 9% 11% 10% 12% 22% 39% 39%
Other Income 65 68 53 52 55 44 40 55 39 49 -106 50 67
Interest 73 187 207 179 181 175 191 227 283 368 413 490 514
Depreciation 35 56 60 62 61 62 60 47 34 32 30 30 30
Profit before tax 18 -194 22 26 75 98 33 35 -85 -119 37 1,236 1,360
Tax % 7% -1% 17% 19% 21% 23% 27% 30% -0% -25% 7% 0%
Net Profit 17 -195 18 21 59 76 24 25 -85 -148 34 1,230 1,368
EPS in Rs 0.74 0.00 0.87 0.94 2.71 3.50 1.04 1.03 0.00 0.00 1.67 59.55 66.22
Dividend Payout % 81% -2% 52% 66% 35% 27% 68% 67% -12% -10% 60% 3%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.41%
5 Years:10.78%
3 Years:33.95%
TTM:89.93%
Compounded Profit Growth
10 Years:23.53%
5 Years:118.88%
3 Years:149.98%
TTM:5238.54%
Return on Equity
10 Years:13.57%
5 Years:25.92%
3 Years:74.97%
Last Year:297.55%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
39 39 39 41 41 41 41 41 41 41 41 45
Reserves 357 332 172 1,061 1,751 1,646 1,422 1,531 1,271 294 595 139
Borrowings 1,413 1,711 1,775 1,241 1,295 1,248 1,435 1,726 2,431 2,542 2,803 3,968
312 465 452 460 629 985 865 695 650 761 707 1,030
Total Liabilities 2,121 2,547 2,437 2,802 3,716 3,919 3,764 3,993 4,393 3,638 4,147 5,178
937 981 952 897 929 908 858 838 590 572 556 528
CWIP 304 219 208 197 102 127 153 75 72 75 74 5
Investments 127 60 60 60 56 56 56 56 56 773 950 1,062
753 1,287 1,217 1,648 2,629 2,829 2,696 3,024 3,675 2,218 2,566 3,584
Total Assets 2,121 2,547 2,437 2,802 3,716 3,919 3,764 3,993 4,393 3,638 4,147 5,178

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
55 9 75 552 102 323 -14 45 -435 169 -451 -737
-252 -2 -12 32 4 -65 4 -87 42 120 559 102
214 63 -152 -597 -104 -232 -1 30 404 -254 -154 654
Net Cash Flow 18 70 -90 -14 2 26 -11 -12 11 36 -47 18

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 3% -0% 11% 9% 9% 9% 8% 8% 5% 9% 19% 45%
Debtor Days 113 118 146 24 23 34 27 41 47 26 29 90
Inventory Turnover 5.89 4.82 6.07 3.15 1.72 1.64 2.65 3.33 2.65 3.50 6.42 3.40