Chamanlal Setia Exports Ltd

Chamanlal Setia Exports Ltd

₹ 243 -2.66%
23 Feb 4:01 p.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][2]
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’

  • Market Cap 1,259 Cr.
  • Current Price 243
  • High / Low 275 / 148
  • Stock P/E 9.68
  • Book Value 127
  • Dividend Yield 0.41 %
  • ROCE 26.2 %
  • ROE 23.1 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 23.5% CAGR over last 5 years
  • Debtor days have improved from 53.1 to 40.5 days.

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.

Peer comparison

Sector: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Figures in Rs. Crores

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
195 226 237 167 219 310 410 266 354 357 263 309 400
167 195 212 153 197 275 377 240 303 309 225 273 348
Operating Profit 27 31 25 14 22 34 33 26 51 49 39 36 52
OPM % 14% 14% 10% 8% 10% 11% 8% 10% 15% 14% 15% 12% 13%
1 2 0 1 2 0 0 3 2 7 1 2 4
Interest 1 2 1 1 2 2 1 1 2 3 2 1 3
Depreciation 1 2 1 1 1 2 1 1 1 2 1 1 2
Profit before tax 26 29 23 13 21 30 31 26 50 50 37 35 52
Tax % 25% 25% 25% 25% 25% 25% 27% 23% 25% 25% 25% 25% 25%
20 21 17 10 16 22 22 20 37 38 27 26 39
EPS in Rs 3.78 4.13 3.27 1.86 3.09 4.35 4.30 3.90 7.24 7.30 5.31 5.07 7.48
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
217 272 416 508 483 493 747 765 798 851 932 1,387 1,329
200 248 383 471 424 429 677 702 719 734 837 1,228 1,154
Operating Profit 17 24 32 37 59 65 70 63 79 118 95 159 175
OPM % 8% 9% 8% 7% 12% 13% 9% 8% 10% 14% 10% 11% 13%
1 1 2 2 5 3 2 2 3 3 4 11 15
Interest 5 4 4 6 4 5 8 7 7 6 7 7 9
Depreciation 2 3 3 3 3 4 4 4 5 5 5 6 7
Profit before tax 11 18 27 30 57 58 60 53 70 110 87 157 174
Tax % 30% 32% 33% 34% 35% 34% 31% 35% 25% 25% 25% 25%
8 12 18 20 37 39 42 34 52 82 65 118 130
EPS in Rs 1.48 2.30 3.51 3.75 7.21 7.45 8.05 6.65 10.14 15.85 12.56 22.75 25.16
Dividend Payout % 20% 9% 8% 10% 11% 5% 5% 7% 5% 4% 0% 4%
Compounded Sales Growth
10 Years: 18%
5 Years: 13%
3 Years: 20%
TTM: -1%
Compounded Profit Growth
10 Years: 26%
5 Years: 24%
3 Years: 31%
TTM: 27%
Stock Price CAGR
10 Years: 45%
5 Years: 27%
3 Years: 48%
1 Year: 54%
Return on Equity
10 Years: 23%
5 Years: 21%
3 Years: 22%
Last Year: 23%

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 Sep 2023
Equity Capital 9 9 9 9 9 10 10 10 10 10 10 10 10
Reserves 31 42 57 70 101 137 184 215 263 339 399 598 646
50 35 61 50 24 44 73 106 68 96 118 121 59
20 20 29 37 48 61 66 64 83 74 94 89 126
Total Liabilities 110 106 157 167 183 252 333 396 424 519 621 818 841
13 20 21 22 22 22 27 29 37 48 52 133 142
CWIP 1 0 0 0 0 1 3 2 10 5 6 9 2
Investments 0 0 0 0 1 0 13 13 1 0 0 0 26
95 86 135 145 159 228 290 352 376 466 562 676 671
Total Assets 110 106 157 167 183 252 333 396 424 519 621 818 841

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
-4 13 -21 21 63 -17 -49 -22 51 37 -58 37
2 -4 3 3 1 -3 -10 -5 -19 -8 -7 -4
3 -15 26 -11 -25 19 22 26 -33 22 15 -4
Net Cash Flow 2 -6 8 13 39 -1 -37 -1 -0 51 -50 29

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 39 34 42 34 24 25 40 54 46 51 68 40
Inventory Days 108 77 75 62 53 112 96 113 131 145 184 149
Days Payable 14 7 6 3 4 6 5 7 14 9 15 3
Cash Conversion Cycle 133 105 110 93 73 130 131 159 163 186 237 186
Working Capital Days 105 85 89 68 47 88 105 136 128 141 181 143
ROCE % 19% 25% 29% 28% 46% 39% 29% 20% 23% 30% 19% 26%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
73.87% 73.87% 73.87% 73.87% 73.87% 73.87% 73.87% 73.87% 73.87% 73.89% 73.89% 73.86%
0.04% 0.04% 0.04% 0.06% 0.10% 0.15% 0.20% 0.34% 1.17% 1.85% 1.72% 1.88%
0.10% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.00% 0.38% 0.28%
26.00% 26.10% 26.10% 26.07% 26.03% 25.99% 25.95% 25.80% 24.94% 24.26% 24.01% 23.98%
No. of Shareholders 12,61316,89020,28221,16921,74222,74423,05022,09320,71721,87426,74026,631

* 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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