Emami Ltd

About [ edit ]

Emami is engaged in manufacturing & marketing of personal care & healthcare products with an enviable portfolio of household brand names such as BoroPlus, Navratna, Fair and Handsome, Zandu Balm, Kesh King, Zandu Pancharishta, Mentho Plus Balm and others.(Source : 201903 Annual Report Page No: 193)

  • Market Cap 24,124 Cr.
  • Current Price 543
  • High / Low 567 / 201
  • Stock P/E 53.0
  • Book Value 39.6
  • Dividend Yield 2.21 %
  • ROCE 29.9 %
  • ROE 25.4 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 65.98%

Cons

  • Stock is trading at 13.69 times its book value
  • The company has delivered a poor sales growth of 4.08% over past five years.
  • Promoters have pledged 32.89% of their holding.
  • Promoter holding has decreased over last 3 years: -18.87%

Peer comparison

Sector: FMCG Industry: Personal Care - Indian

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
614 628 811 640 649 660 813 533 481 735 934 731
494 441 548 486 515 468 550 437 359 479 594 569
Operating Profit 120 187 263 155 133 192 262 96 122 256 339 161
OPM % 20% 30% 32% 24% 21% 29% 32% 18% 25% 35% 36% 22%
Other Income 5 5 -1 17 11 16 12 7 7 8 9 46
Interest 5 4 6 6 4 9 5 2 5 2 1 5
Depreciation 84 81 79 81 84 82 86 85 75 115 94 83
Profit before tax 37 106 176 84 57 117 184 15 49 147 253 120
Tax % 28% 23% 22% 33% 31% 18% 22% -48% 19% 19% 17% 27%
Net Profit 27 83 138 56 39 96 144 23 40 118 209 88
EPS in Rs 0.59 1.82 3.03 1.24 0.86 2.11 3.18 0.51 0.87 2.66 4.70 1.97

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
967 1,190 1,370 1,595 1,700 2,076 2,358 2,488 2,531 2,695 2,655 2,881
724 925 1,092 1,254 1,258 1,450 1,616 1,684 1,735 1,979 1,981 2,002
Operating Profit 242 265 279 342 442 626 743 805 795 716 674 879
OPM % 25% 22% 20% 21% 26% 30% 31% 32% 31% 27% 25% 31%
Other Income 33 33 54 56 55 6 -11 -14 -58 34 57 70
Interest 55 15 15 7 5 5 54 58 34 21 21 13
Depreciation 15 14 19 22 35 34 255 309 311 325 336 367
Profit before tax 205 269 299 369 457 592 423 424 393 403 374 569
Tax % 17% 15% 13% 15% 12% 18% 14% 20% 22% 25% 19% 20%
Net Profit 170 229 259 315 402 486 363 340 307 303 303 455
EPS in Rs 3.74 5.04 5.70 6.93 8.87 10.70 8.00 7.50 6.77 6.68 6.67 10.23
Dividend Payout % 27% 23% 47% 38% 39% 33% 44% 47% 52% 60% 60% 78%
Compounded Sales Growth
10 Years:9%
5 Years:4%
3 Years:4%
TTM:9%
Compounded Profit Growth
10 Years:7%
5 Years:2%
3 Years:14%
TTM:50%
Stock Price CAGR
10 Years:13%
5 Years:-0%
3 Years:1%
1 Year:169%
Return on Equity
10 Years:25%
5 Years:18%
3 Years:18%
Last Year:25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
15 15 15 15 23 23 23 23 23 45 45 44
Reserves 610 675 692 762 909 1,208 1,589 1,732 1,991 2,031 1,778 1,718
Borrowings 259 224 156 115 38 36 671 473 326 110 210 92
171 184 315 324 333 410 409 376 458 633 644 665
Total Liabilities 1,055 1,098 1,177 1,216 1,302 1,676 2,692 2,603 2,798 2,819 2,678 2,520
561 485 408 397 396 453 1,918 1,994 1,802 1,680 1,459 1,132
CWIP 6 6 77 47 12 29 67 22 30 36 8 6
Investments 62 7 80 163 296 501 104 128 314 187 156 255
426 600 612 609 599 693 604 460 652 915 1,055 1,126
Total Assets 1,055 1,098 1,177 1,216 1,302 1,676 2,692 2,603 2,798 2,819 2,678 2,520

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
146 127 343 323 428 534 562 730 588 554 531 922
-33 25 -133 -130 -140 -237 -1,313 -306 -276 -26 -231 -227
34 -102 -145 -188 -301 -215 502 -496 -324 -428 -405 -688
Net Cash Flow 147 49 65 5 -13 82 -249 -72 -12 100 -106 6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 33% 32% 35% 42% 50% 61% 30% 23% 22% 19% 18% 30%
Debtor Days 28 33 27 26 17 18 20 14 22 29 42 29
Inventory Turnover 4.94 5.14 5.38 6.40 5.41 5.92 5.95 4.89 4.44 4.55 3.85 3.41

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
72.74 72.74 72.74 62.74 52.74 52.74 52.74 52.74 53.38 53.86 53.86 53.86
12.09 11.43 10.75 11.31 11.92 11.72 10.38 7.00 5.71 8.95 9.62 10.52
6.02 7.05 7.68 17.39 25.13 25.51 28.68 31.47 31.36 28.61 27.37 26.39
0.03 0.03 0.04 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
9.11 8.75 8.79 8.52 10.21 10.03 8.21 8.80 9.55 8.59 9.16 9.24

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