Butterfly Gandhimathi Appliances Ltd

Butterfly Gandhimathi Appliances Ltd

₹ 1,271 2.88%
29 Sep 2:35 p.m.
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

Brand and Market Share
It sells its products under the brand name of “Butterfly”. It is no.1 in India for SS LPG Stoves & Table Top Wet Grinders.
It is one of the top three players In India for Domestic Kitchen Appliances. [1]

  • Market Cap 2,273 Cr.
  • Current Price 1,271
  • High / Low 1,903 / 978
  • Stock P/E 42.8
  • Book Value 160
  • Dividend Yield 0.24 %
  • ROCE 30.3 %
  • ROE 19.8 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 60.7% CAGR over last 5 years

Cons

  • Stock is trading at 7.89 times its book value

* 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

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023
77 289 298 206 137 387 258 190 254 368 248 187 219
81 254 262 193 129 342 238 207 228 327 227 179 199
Operating Profit -4 34 36 13 7 46 20 -17 26 41 22 8 20
OPM % -5% 12% 12% 6% 5% 12% 8% -9% 10% 11% 9% 4% 9%
0 0 0 1 0 0 0 -6 0 4 2 1 1
Interest 6 5 4 2 2 3 3 3 2 2 2 1 1
Depreciation 4 4 4 4 4 4 4 3 4 4 4 4 4
Profit before tax -13 26 29 7 1 39 14 -30 20 39 18 3 16
Tax % 35% 35% 34% -33% 31% 35% 35% 35% 35% 35% 35% 50% 6%
-9 17 19 9 1 25 9 -19 13 25 12 2 15
EPS in Rs -4.82 9.62 10.47 4.95 0.53 14.25 5.08 -10.84 7.41 14.06 6.57 0.87 8.24
Raw PDF

Profit & Loss

Figures in Rs. Crores

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
582 724 762 526 898 401 538 650 676 862 960 1,057 1,022
525 661 707 487 838 421 504 605 636 782 901 959 932
Operating Profit 57 63 55 40 60 -20 35 46 41 80 59 97 90
OPM % 10% 9% 7% 8% 7% -5% 6% 7% 6% 9% 6% 9% 9%
6 4 6 4 5 2 2 2 1 2 -5 7 7
Interest 18 15 22 30 34 23 18 22 24 17 14 7 6
Depreciation 2 4 5 10 12 12 12 13 14 16 15 16 16
Profit before tax 44 48 34 4 19 -53 6 12 4 48 25 80 76
Tax % 31% 30% 35% 33% 35% 3% 18% 23% 4% 25% 35% 36%
30 33 22 3 12 -52 5 10 4 36 16 52 53
EPS in Rs 19.71 18.69 12.53 1.58 6.93 -28.95 2.69 5.35 2.23 20.22 9.02 28.90 29.74
Dividend Payout % 10% 13% 0% 0% 18% 0% 0% 0% 0% 15% 33% 0%
Compounded Sales Growth
10 Years: 4%
5 Years: 14%
3 Years: 16%
TTM: -6%
Compounded Profit Growth
10 Years: 4%
5 Years: 61%
3 Years: 135%
TTM: 52%
Stock Price CAGR
10 Years: 16%
5 Years: 38%
3 Years: 66%
1 Year: -25%
Return on Equity
10 Years: 5%
5 Years: 11%
3 Years: 15%
Last Year: 20%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
15 18 18 18 18 18 18 18 18 18 18 18
Reserves 60 183 206 208 217 157 162 172 175 206 217 268
106 43 186 190 205 158 208 154 170 29 53 5
108 297 241 153 147 85 79 121 129 235 230 212
Total Liabilities 290 542 651 569 587 418 468 464 492 489 518 503
78 98 159 172 170 167 166 167 169 163 164 163
CWIP 2 4 4 3 3 4 2 7 3 3 6 4
Investments 0 0 0 0 0 0 0 0 0 0 0 0
210 440 487 394 415 247 300 290 320 322 348 336
Total Assets 290 542 651 569 587 418 468 464 492 489 518 503

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
43 26 -77 45 24 145 -35 82 17 207 -21 122
-37 -24 -65 -21 -9 -10 -9 -19 -13 -11 -18 -29
7 23 116 -28 -17 -116 32 -77 -7 -164 7 -61
Net Cash Flow 13 24 -26 -5 -2 18 -12 -13 -2 32 -32 31

Ratios

Figures in Rs. Crores

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 59 99 134 134 105 80 89 66 63 31 35 43
Inventory Days 79 122 123 204 76 161 147 136 162 128 120 68
Days Payable 81 169 153 143 65 88 66 95 83 118 79 68
Cash Conversion Cycle 58 51 104 195 116 152 170 107 142 42 76 43
Working Capital Days 48 50 106 151 102 102 120 84 90 17 40 24
ROCE % 41% 30% 17% 8% 13% -8% 7% 10% 8% 21% 17% 30%

Shareholding Pattern

Numbers in percentages

Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023
64.77% 64.78% 64.78% 64.78% 64.78% 64.78% 62.79% 88.78% 82.78% 82.78% 75.00% 75.00%
0.16% 0.04% 0.03% 0.06% 0.68% 0.89% 1.55% 0.03% 0.03% 0.03% 0.03% 0.00%
9.20% 9.19% 7.64% 8.65% 9.07% 9.54% 9.50% 0.72% 5.43% 5.61% 5.84% 6.33%
25.86% 25.99% 27.55% 26.52% 25.47% 24.79% 26.16% 10.47% 11.76% 11.58% 19.14% 18.68%
No. of Shareholders 20,06218,27621,30627,55927,36526,17022,10819,67819,90719,28118,93119,331

* 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.

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