EPL Ltd

EPL Ltd

₹ 183 0.52%
02 May 4:01 p.m.
About

EPL Limited (formerly known as Essel Propack Limited),is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the Beauty & Cosmetics, Pharma & Health, Food, Oral and Home.

The company was acquired by the Blackstone group on Aug – 2019 from the Essel group of companies. The Blackstone Group is one of the leading investment firms in the world with an AUM of around USD 511 billion across sectors like private equity, real estate, hedge fund solutions and credit businesses. The Group also has an exposure in the packaging industry through acquisition of varied companies such as the USA based Graham Packaging, Owens-Illinois Inc, Ohio and China based packaging firm ShyaHsin. [1]

Key Points

Global Footprints
The company is a laminated tubes manufacturer of around ~8 bn Tubes annually, and presence in Oral Care, also having 47% contribution in Personal Care & beyond, having 21 factories across 11 countries with a Innovation Platform - 89 patents granted [1]

  • Market Cap 5,826 Cr.
  • Current Price 183
  • High / Low 236 / 169
  • Stock P/E 32.9
  • Book Value 28.4
  • Dividend Yield 2.35 %
  • ROCE 20.7 %
  • ROE 24.8 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 20.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 76.0%

Cons

  • The company has delivered a poor sales growth of 7.81% over past five years.
  • Tax rate seems low

* 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: Packaging Industry: Packaging

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
204 224 220 272 289 250 284 319 309 297 304 340 322
159 190 182 222 239 214 237 271 256 236 244 273 258
Operating Profit 46 33 38 50 50 36 47 48 54 61 60 68 64
OPM % 22% 15% 18% 18% 17% 14% 16% 15% 17% 21% 20% 20% 20%
2 28 28 67 5 24 25 55 18 25 2 19 14
Interest 3 3 3 4 4 4 5 5 6 6 5 5 6
Depreciation 22 21 20 25 25 18 25 25 26 33 31 30 30
Profit before tax 22 37 43 88 26 38 42 72 39 47 26 52 42
Tax % 13% 4% 8% 9% 20% 9% 17% 13% -27% -24% -7% 20% -19%
20 35 39 80 21 34 35 63 50 59 27 41 50
EPS in Rs 0.62 1.12 1.24 2.53 0.66 1.09 1.10 1.99 1.56 1.84 0.86 1.29 1.56
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
497 579 666 755 743 795 830 846 804 841 1,085 1,209 1,263
403 464 535 613 589 637 640 668 631 676 897 999 1,011
Operating Profit 94 115 131 141 154 158 190 178 173 164 188 209 252
OPM % 19% 20% 20% 19% 21% 20% 23% 21% 22% 20% 17% 17% 20%
45 39 27 21 67 20 22 17 70 114 123 122 60
Interest 59 55 45 41 26 23 21 23 20 15 16 22 21
Depreciation 29 33 37 46 51 60 69 75 97 90 99 109 124
Profit before tax 52 66 76 75 144 94 122 97 125 174 197 200 166
Tax % 5% 25% 28% 25% 22% 31% 33% 34% 16% 12% 11% -3%
49 50 54 57 112 65 81 64 106 153 176 206 177
EPS in Rs 0.31 1.59 1.73 1.80 3.58 2.07 2.58 2.03 3.35 4.85 5.58 6.47 5.55
Dividend Payout % 21% 24% 36% 44% 31% 58% 46% 62% 98% 85% 77% 66%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 15%
TTM: 9%
Compounded Profit Growth
10 Years: 16%
5 Years: 21%
3 Years: 24%
TTM: -3%
Stock Price CAGR
10 Years: 19%
5 Years: 6%
3 Years: -6%
1 Year: 7%
Return on Equity
10 Years: 15%
5 Years: 19%
3 Years: 23%
Last Year: 25%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 31 31 31 31 31 31 31 63 63 63 63 64 64
Reserves 636 670 701 448 567 591 623 614 634 671 697 836 841
536 444 395 390 196 193 193 190 259 187 269 219 221
117 113 138 127 120 142 142 138 123 159 236 222 248
Total Liabilities 1,320 1,258 1,265 997 915 957 990 1,006 1,078 1,080 1,265 1,340 1,374
235 263 306 323 321 356 344 411 412 356 502 638 605
CWIP 17 2 9 7 17 23 27 31 20 7 85 10 21
Investments 564 564 570 291 220 221 219 218 210 358 191 225 211
504 429 381 376 356 357 400 346 436 359 488 467 538
Total Assets 1,320 1,258 1,265 997 915 957 990 1,006 1,078 1,080 1,265 1,340 1,374

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
87 106 140 95 159 127 118 97 146 161 92 247
-130 63 -32 -37 91 -62 -52 -39 17 2 1 -15
44 -156 -117 -62 -249 -67 -59 -62 -101 -212 -102 -225
Net Cash Flow 0 13 -9 -4 1 -2 7 -4 62 -48 -9 7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 74 64 49 53 49 48 57 64 63 77 78 69
Inventory Days 85 85 81 64 71 69 84 80 86 91 88 74
Days Payable 51 43 53 32 49 48 54 47 80 102 81 80
Cash Conversion Cycle 109 106 77 86 71 68 86 97 70 66 85 63
Working Capital Days 195 127 66 74 104 86 80 79 50 74 87 61
ROCE % 10% 10% 11% 12% 15% 15% 17% 14% 16% 19% 21% 21%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
51.96% 51.91% 51.91% 51.91% 51.91% 51.91% 51.53% 51.53% 51.53% 51.52% 51.50% 51.50%
14.63% 14.70% 14.95% 14.58% 14.70% 12.21% 12.13% 11.99% 12.22% 10.41% 9.89% 10.91%
14.74% 14.81% 14.07% 13.92% 13.90% 15.88% 15.92% 16.35% 15.85% 15.54% 14.52% 13.35%
18.67% 18.58% 19.07% 19.58% 19.49% 19.99% 20.41% 20.14% 20.40% 22.54% 24.07% 24.22%
No. of Shareholders 49,85852,74158,80262,60264,30065,49768,09767,65767,12775,04082,10985,877

* 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.

Click on the line-items to see the names of individual entities.

Documents

Concalls