Ester Industries Ltd

Ester Industries Limited is engaged in the business of manufacturing of polyester films, specialty polymers and engineering plastic compounds.

Pros:
Company has reduced debt.
Stock is trading at 0.77 times its book value
Cons:
The company has delivered a poor growth of -1.69% over past five years.
Company has a low return on equity of 0.05% for last 3 years.

Peer Comparison Sector: Packaging // Industry: Packaging

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
166 163 177 197 187 197 202 220 227 276 270 255
153 156 167 184 173 183 188 197 201 251 242 226
Operating Profit 13 7 10 13 15 14 14 23 26 26 28 29
OPM % 8% 4% 6% 7% 8% 7% 7% 10% 11% 9% 10% 11%
Other Income 1 2 2 2 1 1 2 1 1 2 1 2
Interest 8 8 9 8 8 8 8 8 9 9 9 8
Depreciation 8 8 8 8 8 8 8 8 8 8 8 8
Profit before tax -2 -7 -5 -1 -0 -1 1 8 10 10 12 15
Tax % 32% 32% 31% 45% 35% 25% 19% 30% 28% 28% 28% 47%
Net Profit -2 -5 -4 -1 -0 -1 0 6 7 7 8 8
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
282 318 372 394 671 698 884 928 895 768 703 812 1,028
271 280 301 333 448 663 842 853 823 696 660 746 920
Operating Profit 11 38 71 61 223 35 42 74 72 72 43 66 108
OPM % 4% 12% 19% 15% 33% 5% 5% 8% 8% 9% 6% 8% 10%
Other Income 4 2 0 1 1 6 5 5 2 3 6 5 6
Interest 13 13 10 6 13 35 26 35 37 36 33 33 34
Depreciation 16 14 13 14 18 27 29 30 32 32 32 31 32
Profit before tax -14 12 48 41 193 -21 -8 14 5 7 -16 7 47
Tax % -0% 20% 30% 33% 33% 34% 33% 41% 21% 33% 33% 29%
Net Profit -14 10 33 28 129 -14 -5 8 4 5 -11 5 31
EPS in Rs 0.00 1.72 5.94 4.26 19.93 0.00 0.00 1.25 0.61 0.55 0.00 0.63
Dividend Payout % -0% 28% 8% 23% 19% -0% -0% 37% 0% 0% -0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:9.83%
5 Years:-1.69%
3 Years:-3.19%
TTM:27.43%
Compounded Profit Growth
10 Years:-5.72%
5 Years:%
3 Years:10.90%
TTM:487.90%
Return on Equity
10 Years:7.71%
5 Years:0.96%
3 Years:0.05%
Last Year:2.07%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
31 31 28 31 31 31 31 31 31 42 42 42 42
Reserves 76 83 113 147 247 233 227 233 236 252 235 242 273
Borrowings 104 98 53 54 223 304 335 363 376 316 310 307 228
31 41 52 73 125 74 83 89 88 96 124 144 123
Total Liabilities 238 250 247 306 626 642 676 716 732 705 712 735 665
147 140 140 136 363 350 376 390 399 385 416 399 387
CWIP 1 2 0 37 5 17 5 18 12 23 2 1 3
Investments 0 0 0 0 1 1 0 0 0 0 0 0 0
90 107 106 133 258 274 296 308 320 297 294 335 275
Total Assets 238 250 247 306 626 642 676 716 732 705 712 735 665

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
6 28 66 46 83 47 23 52 68 81 50 51
-17 -11 -5 -54 -222 -35 -27 -57 -36 -20 -11 -15
12 -16 -60 10 140 -9 4 -2 -18 -75 -38 -36
Net Cash Flow 1 1 1 2 1 3 -0 -7 14 -14 -0 -0

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % -0% 12% 29% 22% 56% 3% 3% 8% 7% 7% 3% 7%
Debtor Days 58 51 38 47 66 44 45 49 48 53 60 67
Inventory Turnover 10.75 11.35 12.13 11.57 11.82 7.81 7.79 7.52 7.11 6.00 5.73 7.02