L T Foods Ltd

LT Foods is a branded specialty foods company. The Company is engaged in milling, processing and marketing of branded and non-branded basmati rice, and manufacturing of rice food products in the domestic and overseas market.

Pros:
Stock is trading at 0.67 times its book value
Cons:
Promoter's stake has decreased
The company has delivered a poor growth of 9.61% over past five years.
Company has a low return on equity of 13.68% for last 3 years.
Dividend payout has been low at 3.59% of profits over last 3 years

Peer Comparison Sector: FMCG // Industry: Food - Processing - Indian

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
829 790 927 752 853 921 1,071 840 928 1,114 1,009 980
751 696 835 657 755 835 977 747 832 1,005 924 860
Operating Profit 78 94 93 95 98 86 93 93 96 109 85 120
OPM % 9% 12% 10% 13% 12% 9% 9% 11% 10% 10% 8% 12%
Other Income 16 9 17 10 2 18 7 13 5 3 9 5
Interest 36 41 39 37 35 33 40 32 28 30 44 37
Depreciation 13 15 13 12 9 12 14 16 15 17 17 20
Profit before tax 44 47 58 56 56 58 46 58 57 66 33 68
Tax % 40% 30% 34% 37% 35% 34% 25% 32% 34% 42% 34% 33%
Net Profit 25 31 32 35 34 39 32 37 38 38 20 43
EPS in Rs 1.00 1.24 1.21 1.22 1.36 1.07 1.00 1.16 1.09 1.09 0.62 1.34
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
689 1,050 1,044 1,258 1,422 2,206 2,459 2,716 2,955 3,245 3,614 3,890 4,031
608 895 951 1,145 1,258 1,990 2,193 2,452 2,599 2,887 3,237 3,491 3,621
Operating Profit 81 155 93 114 164 216 265 264 356 358 376 399 410
OPM % 12% 15% 9% 9% 12% 10% 11% 10% 12% 11% 10% 10% 10%
Other Income 3 -22 34 5 -22 23 16 45 -37 48 36 22 22
Interest 35 77 59 59 107 117 113 151 148 157 147 139 140
Depreciation 12 20 24 26 34 39 37 47 52 55 50 69 69
Profit before tax 38 36 44 34 -0 83 131 111 120 194 216 214 224
Tax % 12% 17% 24% 26% -10,000% 27% 35% 31% 39% 33% 33% 36%
Net Profit 33 30 27 23 -1 56 78 72 72 117 135 127 138
EPS in Rs 1.45 1.33 1.00 0.85 0.00 2.11 2.94 2.70 2.70 4.40 4.21 3.96 4.14
Dividend Payout % 10% 7% 17% 13% -0% 9% 8% 7% 6% 3% 4% 4%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.99%
5 Years:9.61%
3 Years:9.61%
TTM:9.40%
Compounded Profit Growth
10 Years:9.48%
5 Years:9.90%
3 Years:9.21%
TTM:-2.14%
Return on Equity
10 Years:15.11%
5 Years:14.85%
3 Years:13.68%
Last Year:10.19%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
22 22 26 26 26 26 26 26 27 27 32 32
Reserves 127 156 215 228 229 285 365 436 510 638 1,147 1,297
Borrowings 577 729 824 1,116 1,221 1,413 1,502 1,692 1,597 1,610 1,548 1,690
164 164 115 155 128 254 307 296 331 461 540 568
Total Liabilities 890 1,070 1,181 1,525 1,603 1,978 2,200 2,450 2,465 2,736 3,267 3,587
134 208 225 270 330 339 350 370 361 374 566 601
CWIP 15 11 28 53 5 12 19 15 24 40 28 42
Investments 4 4 3 3 5 5 5 7 6 14 14 36
736 848 925 1,199 1,263 1,622 1,826 2,058 2,073 2,309 2,659 2,908
Total Assets 890 1,070 1,181 1,525 1,603 1,978 2,200 2,450 2,465 2,736 3,267 3,587

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-164 13 -17 -110 95 104 9 297 227 60 103
-79 -87 -62 -101 -30 -52 -58 -54 -83 -233 -137
246 70 81 223 -37 -45 32 -235 -137 160 44
Net Cash Flow 3 -4 2 12 27 7 -17 8 7 -13 10

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 13% 17% 10% 8% 10% 12% 14% 13% 14% 16% 14% 12%
Debtor Days 60 49 58 81 69 62 48 43 46 52 47 50
Inventory Turnover 1.79 1.82 1.58 1.68 1.72 2.33 2.04 2.00 2.22 2.36 2.28 2.15