Chamanlal Setia Exports Ltd

Chamanlal Setia Exports Ltd

₹ 355 -1.49%
12 Dec 11:08 a.m.
About

Chaman Lal Setia Exports Limited (CLSE) was incorporated in Amritsar, Punjab in 1994 by Mr. Chaman Lal Setia and his sons. [1] It’s one of the oldest Rice Millers cum Exporters of Basmati rice of all varieties from India. [2]
The company is engaged in the business of milling and processing basmati rice. The company has been involved in export operations since 1982 and was recognized as an export house by the Ministry of Commerce in 1989, at present the company is a ‘Star Export House’. [1]

Key Points

Rice varieties[1]
Basmati Brands: Maharani, Mithas, Begum
Non-basmati brands: Green World Aromatic Rice
Other innovative products such as ‘Maharani Diabetics Rice’, ‘Basmati Rice Plus’ and organic products such as ‘Maharani - Brown Basmati Rice’
Company's brand contributed to ~10% of revenues, growing by 46% in FY24.[2]

Company is India's largest private label exporter with 300+ private label brands.[3]

  • Market Cap 1,835 Cr.
  • Current Price 355
  • High / Low 382 / 181
  • Stock P/E 16.5
  • Book Value 131
  • Dividend Yield 0.63 %
  • ROCE 20.2 %
  • ROE 17.4 %
  • Face Value 2.00

Pros

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

Cons

* 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

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
167 219 310 410 266 354 357 263 309 400 384 363 369
153 197 275 377 240 303 309 225 273 348 348 331 333
Operating Profit 14 22 34 33 26 51 49 39 36 52 36 32 36
OPM % 8% 10% 11% 8% 10% 15% 14% 15% 12% 13% 9% 9% 10%
1 2 0 0 3 2 7 1 2 4 2 2 2
Interest 1 2 2 1 1 2 3 2 1 3 4 2 1
Depreciation 1 1 2 1 1 1 2 1 1 2 2 1 1
Profit before tax 13 21 30 31 26 50 50 37 35 52 31 30 36
Tax % 25% 25% 25% 27% 23% 25% 25% 25% 25% 25% 25% 25% 25%
10 16 22 22 20 37 38 27 26 39 23 23 27
EPS in Rs 1.86 3.09 4.35 4.30 3.90 7.24 7.30 5.31 5.07 7.48 4.49 4.37 5.16
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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 TTM
272 416 508 483 493 747 765 798 851 932 1,387 1,356 1,516
248 383 471 424 429 677 702 719 734 837 1,228 1,194 1,360
Operating Profit 24 32 37 59 65 70 63 79 118 95 159 162 156
OPM % 9% 8% 7% 12% 13% 9% 8% 10% 14% 10% 11% 12% 10%
1 2 2 5 3 2 2 3 3 4 11 10 10
Interest 4 4 6 4 5 8 7 7 6 7 7 10 10
Depreciation 3 3 3 3 4 4 4 5 5 5 6 7 7
Profit before tax 18 27 30 57 58 60 53 70 110 87 157 155 149
Tax % 32% 33% 34% 35% 34% 31% 35% 25% 25% 25% 25% 25%
12 18 20 37 39 42 34 52 82 65 118 116 111
EPS in Rs 2.30 3.51 3.75 7.21 7.45 8.05 6.65 10.14 15.85 12.56 22.75 22.35 21.50
Dividend Payout % 9% 8% 10% 11% 5% 5% 7% 5% 4% 0% 4% 10%
Compounded Sales Growth
10 Years: 13%
5 Years: 12%
3 Years: 17%
TTM: 18%
Compounded Profit Growth
10 Years: 20%
5 Years: 28%
3 Years: 12%
TTM: -14%
Stock Price CAGR
10 Years: 41%
5 Years: 53%
3 Years: 52%
1 Year: 50%
Return on Equity
10 Years: 22%
5 Years: 20%
3 Years: 19%
Last Year: 17%

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 Sep 2024
Equity Capital 9 9 9 9 10 10 10 10 10 10 10 10 10
Reserves 42 57 70 101 137 184 215 263 339 399 598 704 665
35 61 50 24 44 73 106 68 96 118 121 175 48
20 29 37 48 61 66 64 83 74 94 89 105 151
Total Liabilities 106 157 167 183 252 333 396 424 519 621 818 994 874
20 21 22 22 22 27 29 37 48 52 133 143 149
CWIP 0 0 0 0 1 3 2 10 5 6 9 5 1
Investments 0 0 0 1 0 13 13 1 0 0 0 0 1
86 135 145 159 228 290 352 376 466 562 676 846 722
Total Assets 106 157 167 183 252 333 396 424 519 621 818 994 874

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
13 -21 21 63 -17 -49 -22 51 37 -58 7 -38
-4 3 3 1 -3 -10 -5 -19 -8 -7 -4 -6
-15 26 -11 -25 19 22 26 -33 22 15 -4 45
Net Cash Flow -6 8 13 39 -1 -37 -1 -0 51 -50 -1 0

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 34 42 34 24 25 40 54 46 51 68 40 54
Inventory Days 77 75 62 53 112 96 113 131 145 184 149 180
Days Payable 7 6 3 4 6 5 7 14 9 15 3 3
Cash Conversion Cycle 105 110 93 73 130 131 159 163 186 237 186 231
Working Capital Days 85 89 68 47 88 105 136 128 141 181 143 182
ROCE % 25% 29% 28% 46% 39% 29% 20% 23% 30% 19% 26% 20%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
73.87% 73.87% 73.87% 73.87% 73.87% 73.87% 73.89% 73.89% 73.86% 73.86% 73.86% 74.05%
0.06% 0.10% 0.15% 0.20% 0.34% 1.17% 1.85% 1.72% 1.88% 1.77% 2.04% 1.40%
0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.00% 0.38% 0.28% 0.00% 0.00% 1.30%
26.07% 26.03% 25.99% 25.95% 25.80% 24.94% 24.26% 24.01% 23.98% 24.37% 24.11% 23.25%
No. of Shareholders 21,16921,74222,74423,05022,09320,71721,87426,74026,63133,29833,29631,944

* 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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