Eveready Industries India Ltd

Eveready Industries India is engaged in the business of marketing of dry cell batteries, rechargeable batteries, flashlights, packet tea, general lighting products, small home appliances and confectioneries which come under a single business segment known as Consumer Goods.

Pros:
Stock is trading at 1.17 times its book value
Cons:
Promoter's stake has decreased
The company has delivered a poor growth of 4.79% over past five years.
Contingent liabilities of Rs.514.93 Cr.
Promoters have pledged 88.51% of their holding

Peer Comparison Sector: Dry cells // Industry: Dry Cells

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
367 329 305 339 398 370 350 383 383 379 312 321
324 294 287 311 351 335 354 348 342 344 300 296
Operating Profit 43 35 18 28 47 34 -4 35 41 35 12 25
OPM % 12% 11% 6% 8% 12% 9% -1% 9% 11% 9% 4% 8%
Other Income 2 2 4 1 13 4 1 4 9 -15 14 7
Interest 6 5 6 7 7 7 8 10 13 17 15 16
Depreciation 4 4 4 5 5 5 5 5 6 5 6 7
Profit before tax 35 29 11 18 48 27 -16 24 32 -2 5 9
Tax % 27% -23% 4% 24% 24% 22% -4% 22% 23% 110% 26% 24%
Net Profit 26 35 10 14 36 21 -16 18 25 0 4 7
EPS in Rs 3.52 4.84 1.44 1.87 5.00 2.88 -2.22 2.52 3.39 0.03 0.56 0.94
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
847 864 967 951 980 1,035 1,153 1,279 1,324 1,355 1,456 1,458 1,395
784 784 859 857 932 970 1,063 1,155 1,202 1,222 1,351 1,342 1,283
Operating Profit 63 80 108 94 49 66 91 124 122 134 105 116 113
OPM % 7% 9% 11% 10% 5% 6% 8% 10% 9% 10% 7% 8% 8%
Other Income 14 5 116 10 -67 9 9 4 8 9 20 19 16
Interest 54 42 36 33 36 40 41 34 30 23 29 54 60
Depreciation 28 25 24 25 24 35 42 32 14 15 19 22 24
Profit before tax -5 18 164 46 -79 -1 16 62 86 105 77 59 45
Tax % -326% -9% 13% 15% -1% 779% 18% 21% 19% 11% 29% 20%
Net Profit -19 19 142 39 -80 5 14 49 69 94 55 47 36
EPS in Rs 0.00 2.67 19.49 5.34 0.00 0.70 1.79 6.74 9.30 12.88 7.53 6.50 4.92
Dividend Payout % -0% 0% 3% 9% -0% 0% 27% 0% 21% 0% 20% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:5.37%
5 Years:4.79%
3 Years:3.27%
TTM:-7.03%
Compounded Profit Growth
10 Years:12.02%
5 Years:46.67%
3 Years:-4.40%
TTM:-39.92%
Return on Equity
10 Years:8.43%
5 Years:16.55%
3 Years:22.15%
Last Year:16.74%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
36 36 36 36 36 36 36 36 36 36 36 36
Reserves 514 516 631 649 552 548 557 588 170 253 308 340
Borrowings 402 289 285 262 286 276 225 207 187 197 246 384
286 322 259 233 243 249 294 273 291 342 465 450
Total Liabilities 1,238 1,163 1,211 1,181 1,118 1,109 1,113 1,105 685 828 1,055 1,210
905 873 835 802 792 764 730 696 222 334 357 343
CWIP 10 12 13 14 11 9 14 28 22 6 3 5
Investments 1 0 41 41 0 0 1 3 3 3 3 10
322 279 322 323 315 337 367 378 438 485 692 853
Total Assets 1,238 1,163 1,211 1,181 1,118 1,109 1,113 1,105 685 828 1,055 1,210

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
176 78 97 83 51 64 94 89 116 90 81 75
-57 44 -62 -24 -29 -12 -7 -31 -56 -68 -101 -145
-107 -143 -39 -57 -26 -51 -90 -56 -71 -11 -35 151
Net Cash Flow 13 -21 -4 2 -4 1 -4 2 -11 11 -55 82

Ratios Standalone Figures in Rs. Crores / View Consolidated

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 % 5% 7% 11% 8% 4% 5% 6% 12% 19% 29% 19% 19%
Debtor Days 18 16 14 16 16 16 16 14 19 23 30 26
Inventory Turnover 4.61 4.74 5.16 4.86 4.87 4.77 4.83 4.95 5.33 5.20 4.98 5.27