Flair Writing Industries Ltd

Flair Writing Industries Ltd

₹ 312 -1.19%
19 Apr - close price
About

Incorporated in 1976, Flair Writing Industries (Flair) is engaged in developing and manufacturing writing instruments and is among the Top 3 players in the overall writing instruments industry [1]

Key Points

Market share[1] Flair is among the top three players in the writing instruments industry occupies a 9% market share in India in FY23.

  • Market Cap 3,286 Cr.
  • Current Price 312
  • High / Low 514 / 246
  • Stock P/E 29.4
  • Book Value 46.4
  • Dividend Yield 0.00 %
  • ROCE 33.6 %
  • ROE 30.2 %
  • Face Value 5.00

Pros

  • Debtor days have improved from 99.2 to 65.4 days.
  • Company's working capital requirements have reduced from 186 days to 129 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company might be capitalizing the interest cost

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Jun 2023 Sep 2023 Dec 2023
224 230 244 215
173 183 194 182
Operating Profit 51 48 51 33
OPM % 23% 21% 21% 15%
3 3 4 6
Interest 2 2 2 2
Depreciation 6 7 7 8
Profit before tax 45 42 45 29
Tax % 27% 25% 25% 26%
33 31 33 21
EPS in Rs 14.13 3.32 3.57 2.03
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
503 613 581 289 554 903
410 495 488 267 461 732
Operating Profit 93 117 93 23 93 171
OPM % 18% 19% 16% 8% 17% 19%
7 5 5 12 11 14
Interest 17 18 15 11 9 9
Depreciation 15 18 23 22 23 24
Profit before tax 67 86 60 2 72 151
Tax % 21% 24% 36% 72% 25% 26%
53 65 38 0 54 112
EPS in Rs 2,444.60 27.84 16.33 0.21 23.08 11.95
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 12%
3 Years: 16%
TTM: 63%
Compounded Profit Growth
10 Years: %
5 Years: 16%
3 Years: 43%
TTM: 107%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: 20%
3 Years: 18%
Last Year: 30%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0 23 23 23 23 47 47
Reserves 158 199 236 236 290 379 442
169 196 168 122 118 97 124
84 111 113 85 107 111 120
Total Liabilities 412 529 539 467 539 634 734
144 182 195 178 181 200 230
CWIP 8 3 0 0 0 2 7
Investments 0 0 0 16 0 4 4
260 343 344 273 358 429 494
Total Assets 412 529 539 467 539 634 734

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
45 36 70 23 79
-51 -52 -16 -8 -46
0 17 -57 -15 -32
Net Cash Flow -6 1 -3 -0 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 84 96 103 139 93 65
Inventory Days 123 147 180 287 220 138
Days Payable 76 71 71 85 58 39
Cash Conversion Cycle 130 172 211 341 255 164
Working Capital Days 110 134 151 255 174 129
ROCE % 28% 18% 3% 20% 34%

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024
78.59% 78.59%
1.38% 0.25%
9.57% 10.85%
10.46% 10.30%
No. of Shareholders 84,16081,500

* 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.

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