Butterfly Gandhimathi Appliances Ltd

Butterfly Gandhimathi Appliances Ltd

₹ 757 1.29%
21 Jun - close price
About

Butterfly Gandhimathi Appliances manufactures LPG Stoves, Mixer Grinders, Table Top Wet Grinders and Stainless Steel and Aluminium Pressure Cookers amongst others. Established in 1986, It is one of the largest Kitchen Appliances companies in India. It is a market leader for SS LPG Stoves & Table Top Wet Grinders and a major supplier of Mixer Grinders & Pressure Cookers. [1]

Key Points

Background
Founded in 1986, Butterfly is one of the most renowned domestic kitchen and electrical appliances brands in India. It was the first company in India to introduce stainless steel pressure cookers, stainless steel LPG stoves and vacuum flasks with high heat retention capacity.[1]

  • Market Cap 1,354 Cr.
  • Current Price 757
  • High / Low 1,308 / 675
  • Stock P/E 165
  • Book Value 163
  • Dividend Yield 0.00 %
  • ROCE 4.85 %
  • ROE 2.83 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 7.45% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 10.3% over last 3 years.
  • Dividend payout has been low at 11.1% of profits over last 3 years
  • Company's cost of borrowing seems high

* 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

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
206 137 387 258 190 254 368 248 187 219 308 238 166
193 129 342 238 207 228 327 227 179 199 283 236 186
Operating Profit 13 7 46 20 -17 26 41 22 8 20 25 2 -20
OPM % 6% 5% 12% 8% -9% 10% 11% 9% 4% 9% 8% 1% -12%
1 0 0 0 -6 0 4 2 1 1 1 1 -1
Interest 2 2 3 3 3 2 2 2 1 1 2 2 1
Depreciation 4 4 4 4 3 4 4 4 4 4 5 5 5
Profit before tax 7 1 39 14 -30 20 39 18 3 16 19 -3 -27
Tax % -33% 31% 35% 35% 35% 35% 35% 35% 50% 6% 25% 22% 26%
9 1 25 9 -19 13 25 12 2 15 15 -2 -20
EPS in Rs 4.95 0.53 14.25 5.08 -10.84 7.41 14.06 6.57 0.87 8.24 8.16 -1.21 -11.05
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
724 762 526 898 401 538 650 676 862 960 1,057 931
661 707 487 838 421 504 605 636 782 901 959 904
Operating Profit 63 55 40 60 -20 35 46 41 80 59 97 27
OPM % 9% 7% 8% 7% -5% 6% 7% 6% 9% 6% 9% 3%
4 6 4 5 2 2 2 1 2 -5 7 3
Interest 15 22 30 34 23 18 22 24 17 14 7 6
Depreciation 4 5 10 12 12 12 13 14 16 15 16 18
Profit before tax 48 34 4 19 -53 6 12 4 48 25 80 6
Tax % 30% 35% 33% 35% 3% 18% 23% 4% 25% 35% 36% -31%
33 22 3 12 -52 5 10 4 36 16 52 7
EPS in Rs 18.69 12.53 1.58 6.93 -28.95 2.69 5.35 2.23 20.22 9.02 28.90 4.13
Dividend Payout % 13% 0% 0% 18% 0% 0% 0% 0% 15% 33% 0% 0%
Compounded Sales Growth
10 Years: 2%
5 Years: 7%
3 Years: 3%
TTM: -12%
Compounded Profit Growth
10 Years: -10%
5 Years: -3%
3 Years: -39%
TTM: -84%
Stock Price CAGR
10 Years: 10%
5 Years: 36%
3 Years: 3%
1 Year: -34%
Return on Equity
10 Years: 4%
5 Years: 10%
3 Years: 10%
Last Year: 3%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 18 18 18 18 18 18 18 18 18 18 18 18
Reserves 183 206 208 217 157 162 172 175 206 217 268 274
43 186 190 205 158 208 154 170 29 53 5 1
297 241 153 147 85 79 121 129 235 230 212 243
Total Liabilities 542 651 569 587 418 468 464 492 489 518 503 536
98 159 172 170 167 166 167 169 163 164 163 160
CWIP 4 4 3 3 4 2 7 3 3 6 4 6
Investments 0 0 0 0 0 0 0 0 0 0 0 32
440 487 394 415 247 300 290 320 322 348 336 338
Total Assets 542 651 569 587 418 468 464 492 489 518 503 536

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
26 -77 45 24 145 -35 82 17 207 -21 122 37
-24 -65 -21 -9 -10 -9 -19 -13 -11 -18 -29 -21
23 116 -28 -17 -116 32 -77 -7 -164 7 -61 -8
Net Cash Flow 24 -26 -5 -2 18 -12 -13 -2 32 -32 31 8

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 99 134 134 105 80 89 66 63 31 35 43 52
Inventory Days 122 123 204 76 161 147 136 162 128 120 68 82
Days Payable 169 153 143 65 88 66 95 83 118 79 68 76
Cash Conversion Cycle 51 104 195 116 152 170 107 142 42 76 43 58
Working Capital Days 50 106 151 102 102 120 84 90 17 40 24 35
ROCE % 30% 17% 8% 13% -8% 7% 10% 8% 21% 17% 30%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
64.78% 64.78% 64.78% 62.79% 88.78% 82.78% 82.78% 75.00% 75.00% 75.00% 75.00% 75.00%
0.06% 0.68% 0.89% 1.55% 0.03% 0.03% 0.03% 0.03% 0.00% 0.00% 0.00% 0.00%
8.65% 9.07% 9.54% 9.50% 0.72% 5.43% 5.61% 5.84% 6.33% 6.52% 6.47% 6.33%
26.52% 25.47% 24.79% 26.16% 10.47% 11.76% 11.58% 19.14% 18.68% 18.48% 18.53% 18.67%
No. of Shareholders 27,55927,36526,17022,10819,67819,90719,28118,93119,33119,34215,25816,024

* 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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