Century Enka Ltd

Century Enka Ltd

₹ 447 -1.23%
04 Mar 4:01 p.m.
About

Established in 1965, by BK Birla group and Enka International which is part of Akzo Nobel group, Century Enka is into manufacturing of industrial yarn, textile yarn & fabric such as Nylon Filament Yarrn (NFY) & Nylon Tyre Cord Fabric (NTCF). [1]

Key Points

Market leader [1]
The company has become one of the largest producers of Nylon Filament Yarn (NFY) and Nylon Tyre Cord Fabric (NTCF) in India with a share of ~23% in the domestic market in NTCF and ~25% in NFY. The company’s brand ‘Enkalon’ stands testimony to the high quality of material which gives a soft, lustrous and elegant feel to the finished fabric.

  • Market Cap 979 Cr.
  • Current Price 447
  • High / Low 504 / 340
  • Stock P/E 24.4
  • Book Value 606
  • Dividend Yield 2.24 %
  • ROCE 8.42 %
  • ROE 6.55 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 0.74 times its book value
  • Company has been maintaining a healthy dividend payout of 20.2%
  • Debtor days have improved from 49.7 to 38.2 days.
  • Company's working capital requirements have reduced from 80.2 days to 63.8 days

Cons

  • The company has delivered a poor sales growth of 7.90% over past five years.
  • Promoter holding is low: 24.9%
  • Company has a low return on equity of 9.28% over last 3 years.
  • Earnings include an other income of Rs.33.5 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.

Peer comparison

Sector: Textiles Industry: Textiles - Manmade

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
398.35 445.06 423.28 538.64 563.42 572.41 567.79 563.39 468.25 472.62 428.50 396.40 450.57
340.44 374.65 361.89 479.58 487.74 504.33 506.60 525.57 447.58 449.97 407.12 387.04 432.29
Operating Profit 57.91 70.41 61.39 59.06 75.68 68.08 61.19 37.82 20.67 22.65 21.38 9.36 18.28
OPM % 14.54% 15.82% 14.50% 10.96% 13.43% 11.89% 10.78% 6.71% 4.41% 4.79% 4.99% 2.36% 4.06%
-1.89 4.18 4.58 6.71 4.62 4.80 3.26 4.73 3.88 7.17 8.71 11.79 5.79
Interest 0.37 0.38 0.30 0.28 0.37 0.29 0.34 0.37 0.39 1.25 1.05 1.40 1.56
Depreciation 10.94 9.88 9.44 10.01 9.76 10.41 10.10 9.41 10.05 11.66 11.19 13.34 12.66
Profit before tax 44.71 64.33 56.23 55.48 70.17 62.18 54.01 32.77 14.11 16.91 17.85 6.41 9.85
Tax % 27.38% 24.50% 24.35% 25.40% 27.92% 20.15% 25.38% 21.70% 29.34% 14.19% 23.25% 29.64% 24.67%
32.47 48.57 42.54 41.39 50.58 49.65 40.30 25.66 9.97 14.51 13.70 4.51 7.42
EPS in Rs 14.86 22.23 19.47 18.94 23.15 22.72 18.44 11.74 4.56 6.64 6.27 2.06 3.40
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
1,650 1,552 1,467 1,219 1,148 1,185 1,416 1,791 1,423 1,223 2,098 2,072 1,748
1,568 1,414 1,289 1,103 1,014 1,003 1,305 1,641 1,330 1,102 1,834 1,930 1,676
Operating Profit 81 138 178 116 135 183 112 151 93 120 264 142 72
OPM % 5% 9% 12% 9% 12% 15% 8% 8% 7% 10% 13% 7% 4%
18 -5 10 7 4 5 43 17 42 14 21 19 33
Interest 32 29 21 17 10 6 3 3 3 2 1 2 5
Depreciation 67 72 71 43 41 42 42 45 46 41 40 41 49
Profit before tax 0 31 96 63 88 140 109 119 86 92 244 118 51
Tax % -2,409% 30% 34% 42% 33% 35% 36% 36% -10% 23% 25% 23%
9 22 63 37 59 91 70 77 96 71 184 90 40
EPS in Rs 4.02 10.02 28.80 16.74 27.05 41.63 32.08 35.05 43.72 32.46 84.28 41.39 18.37
Dividend Payout % 124% 60% 21% 36% 28% 17% 22% 20% 18% 25% 12% 24%
Compounded Sales Growth
10 Years: 3%
5 Years: 8%
3 Years: 13%
TTM: -20%
Compounded Profit Growth
10 Years: 12%
5 Years: 11%
3 Years: -2%
TTM: -68%
Stock Price CAGR
10 Years: 13%
5 Years: 12%
3 Years: 19%
1 Year: 20%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 9%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 22 22 22 22 22 22 22 22 22 22 22 22 22
Reserves 626 632 679 694 756 833 879 933 1,003 1,067 1,229 1,300 1,302
352 277 195 152 70 53 47 38 23 13 15 68 67
224 179 174 180 168 213 216 238 216 238 257 233 210
Total Liabilities 1,224 1,110 1,070 1,049 1,016 1,119 1,164 1,231 1,264 1,340 1,523 1,623 1,601
701 670 596 612 602 569 575 548 528 492 476 645 722
CWIP 21 3 22 12 2 6 4 2 3 2 68 106 85
Investments 3 3 9 9 80 98 87 168 262 302 260 344 279
499 433 443 416 333 447 499 513 471 545 718 528 516
Total Assets 1,224 1,110 1,070 1,049 1,016 1,119 1,164 1,231 1,264 1,340 1,523 1,623 1,601

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
145 130 152 128 192 61 56 122 142 109 56 219
-45 -12 -32 -53 -83 -20 -8 -110 -104 -76 -41 -251
-105 -117 -119 -76 -108 -43 -28 -31 -38 -29 -17 29
Net Cash Flow -5 1 1 -1 1 -2 20 -18 -1 4 -3 -3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 40 47 49 50 58 53 42 39 69 42 38
Inventory Days 75 69 80 97 78 134 90 68 96 97 85 64
Days Payable 23 8 14 16 17 40 30 29 43 65 33 28
Cash Conversion Cycle 88 101 114 131 110 152 113 80 92 102 93 74
Working Capital Days 77 64 83 94 80 100 92 75 84 98 79 64
ROCE % 3% 8% 12% 9% 11% 17% 9% 12% 8% 8% 20% 8%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
24.80% 24.80% 24.80% 24.80% 24.80% 24.80% 24.79% 24.79% 24.79% 24.79% 24.86% 24.86%
2.00% 3.25% 4.67% 4.88% 5.26% 5.35% 4.41% 3.62% 3.35% 3.42% 3.35% 2.95%
5.33% 5.35% 5.33% 5.34% 7.97% 7.92% 6.15% 5.20% 4.74% 5.11% 5.11% 6.27%
67.87% 66.61% 65.20% 64.98% 61.97% 61.94% 64.66% 66.39% 67.11% 66.68% 66.68% 65.91%
No. of Shareholders 40,60247,01946,59244,66544,23743,47243,14148,37347,22146,49443,98942,429

* 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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Documents

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