DFM Foods Ltd

DFM Foods is engaged in manufacturing and sale of Snack Foods.(Source : 201903 Annual Report Page No: 65)

Pros:
Company has a good return on equity (ROE) track record: 3 Years ROE 26.66%
Company has been maintaining a healthy dividend payout of 22.56%
Cons:
Stock is trading at 8.51 times its book value
Promoters have pledged 85.05% of their holding

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

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Quarterly Results Figures in Rs. Crores

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
87 92 94 107 124 101 99 118 135 132 128 136
77 85 86 93 106 88 87 103 116 113 112 120
Operating Profit 10 7 8 14 17 13 12 15 19 18 16 16
OPM % 12% 8% 8% 13% 14% 13% 12% 13% 14% 14% 13% 12%
Other Income -0 1 1 1 1 1 1 1 0 2 1 2
Interest 1 0 2 3 2 3 3 3 3 2 2 2
Depreciation 2 2 2 2 3 3 3 3 3 3 3 3
Profit before tax 7 6 4 10 13 8 8 11 14 15 12 13
Tax % 25% 28% 33% 35% 35% 32% 34% 35% 22% 34% 35% -17%
Net Profit 5 4 3 7 8 6 5 7 11 10 8 15
EPS in Rs 1.04 0.88 0.53 1.31 1.68 0.23 1.00 1.41 2.14 1.99 1.52 2.95
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

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
49 77 72 120 169 225 263 289 390 342 425 484 530
47 73 65 105 149 204 241 260 342 310 374 419 460
Operating Profit 2 4 7 15 20 21 23 29 47 32 51 65 70
OPM % 4% 5% 10% 13% 12% 9% 9% 10% 12% 9% 12% 13% 13%
Other Income 2 2 1 1 3 3 1 -0 2 5 4 4 4
Interest 2 2 1 2 4 9 8 6 6 4 10 11 10
Depreciation 0 0 1 1 2 4 6 6 7 7 10 10 11
Profit before tax 1 3 6 13 16 10 10 17 36 25 35 47 53
Tax % 44% 35% 34% 35% 35% 37% 28% 36% 31% 26% 34% 31%
Net Profit 1 2 4 8 10 6 7 11 25 18 23 33 43
EPS in Rs 1.60 1.99 1.18 1.34 2.10 4.80 3.49 0.93 6.54 8.60
Dividend Payout % 64% 50% 36% 24% 24% 40% 35% 23% 20% 27% 21% 19%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:20.25%
5 Years:12.93%
3 Years:7.48%
TTM:20.05%
Compounded Profit Growth
10 Years:32.18%
5 Years:30.69%
3 Years:11.36%
TTM:69.11%
Stock Price CAGR
10 Years:36.16%
5 Years:31.26%
3 Years:-8.50%
1 Year:5.43%
Return on Equity
10 Years:29.71%
5 Years:29.62%
3 Years:26.66%
Last Year:29.23%

Balance Sheet Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
10 10 10 10 10 10 10 10 10 10 10 10 10
Reserves 3 4 6 13 20 24 28 36 55 75 92 119 135
Borrowings 26 10 16 16 66 67 51 50 57 98 93 93 90
8 8 14 17 27 38 38 46 70 82 80 92 124
Total Liabilities 48 32 46 55 123 139 127 142 192 265 275 314 358
7 8 23 32 86 97 91 88 112 159 155 166 204
CWIP 0 2 0 0 3 0 0 0 1 0 4 6 18
Investments 0 0 0 0 0 0 14 31 42 49 52 55 56
41 22 24 23 35 41 22 23 37 57 64 88 80
Total Assets 48 32 46 55 123 139 127 142 192 265 275 314 358

Cash Flows Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-14 15 16 14 17 22 20 26 59 19 34 63
-7 -2 -12 -14 -52 -13 9 -18 -54 -53 -13 -48
20 -10 4 -7 33 -8 -27 -10 -2 32 -21 -13
Net Cash Flow -1 2 8 -7 -2 0 1 -1 3 -2 0 2

Ratios Figures in Rs. Crores

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 % 12% 17% 27% 43% 30% 20% 22% 28% 38% 19% 24% 29%
Debtor Days 0 18 0 0 0 0 0 0 0 0 0 0
Inventory Turnover 4.04 6.31 19.15 28.81 18.98 17.17 19.00 17.45 23.41 20.02 19.93 21.27