Goodricke Group Ltd

Goodricke Group Ltd

₹ 203 1.86%
19 Jun 10:06 a.m.
About

Incorporated in 1977, Goodricke Group Ltd is in the business of cultivation, manufacture and sale of tea[1]

Key Points

Business Overview:[1][2][3]
a) GGL is a subsidiary of Camellia Plc. U.K. (74% stake holder) and is a 2nd largest tea producer in India
b) It cultivates tea across 18 gardens.
c) It operates 22 factories including a processing factory with each tea garden, tea-blending units and an instant tea plant.
d) Company's gardens are spread over an area of 10,311 hectare under cultivation, and are located in West Bengal (73% and 9% of area under cultivation in Dooars and Darjeeling, respectively) and Assam (18% of area under cultivation)
e) GGL sells its produce through a combination of auction sales, private sales and exports
f) Group has 29 tea estates with an area of 17,465 hectare under cultivation, equally spread over West Bengal and Assam
g) GGL is certified by FSSC 22000, Rainforest Alliance Certification, UTZ Certification, and ETP – Ethical Tea Partnership.

  • Market Cap 438 Cr.
  • Current Price 203
  • High / Low 225 / 159
  • Stock P/E
  • Book Value 112
  • Dividend Yield 0.00 %
  • ROCE -14.9 %
  • ROE -25.1 %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 1.93% over past five years.
  • Company has a low return on equity of -6.94% over last 3 years.

* 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: Plantation & Plantation Products Industry: Tea

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
112 173 276 285 89 195 280 307 100 166 241 287 130
162 159 219 281 137 188 224 303 158 163 203 306 198
Operating Profit -51 13 57 4 -48 7 56 3 -58 3 39 -19 -67
OPM % -45% 8% 21% 1% -54% 4% 20% 1% -58% 2% 16% -7% -52%
3 3 5 1 1 6 4 4 5 2 2 2 4
Interest 1 2 2 2 1 1 2 2 1 2 3 3 3
Depreciation 5 5 5 5 5 5 5 5 5 5 5 5 5
Profit before tax -54 9 55 -2 -53 7 54 -0 -58 -3 33 -25 -71
Tax % -12% 0% 0% 0% -7% 21% 26% 26% 22% 36% 0% -1% -6%
-61 9 55 -2 -57 6 40 -0 -45 -2 33 -25 -76
EPS in Rs -28.03 4.19 25.66 -1.02 -26.38 2.58 18.36 -0.11 -20.98 -0.82 15.44 -11.59 -35.11
Raw PDF

Profit & Loss

Figures in Rs. Crores

Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
540 579 602 733 679 731 749 791 892 823 882 824
503 523 566 718 629 686 718 761 847 797 873 869
Operating Profit 36 56 35 15 49 45 31 31 45 26 9 -45
OPM % 7% 10% 6% 2% 7% 6% 4% 4% 5% 3% 1% -5%
8 10 10 11 14 21 15 12 10 10 19 10
Interest 5 5 3 3 1 2 5 9 8 6 6 10
Depreciation 12 13 13 21 14 15 16 21 21 21 21 21
Profit before tax 27 49 29 3 49 49 26 13 26 9 3 -66
Tax % 27% 31% 23% 526% 32% 35% 63% -29% 26% 43% 113% -6%
20 33 22 -12 33 32 9 16 20 5 -0 -69
EPS in Rs 9.26 15.44 10.30 -5.62 15.34 14.69 4.39 7.56 9.04 2.44 -0.15 -32.08
Dividend Payout % 43% 29% 44% -71% 29% 31% 91% 0% 33% 123% 0% 0%
Compounded Sales Growth
10 Years: 4%
5 Years: 2%
3 Years: -3%
TTM: -7%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -12258%
Stock Price CAGR
10 Years: 2%
5 Years: 3%
3 Years: -10%
1 Year: 4%
Return on Equity
10 Years: 2%
5 Years: -2%
3 Years: -7%
Last Year: -25%

Balance Sheet

Figures in Rs. Crores

Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 22 22 22 22 22 22 22 22 22 22 22 22
Reserves 159 181 192 252 270 285 285 279 298 301 289 220
42 8 8 0 0 19 53 88 82 42 68 126
131 150 175 195 190 236 239 231 262 272 261 281
Total Liabilities 353 360 396 468 481 562 598 620 663 636 639 648
95 98 100 209 217 250 300 315 313 316 317 326
CWIP 1 2 2 33 37 40 31 34 35 33 33 24
Investments 0 0 0 0 14 0 0 0 0 0 0 0
257 261 294 227 213 272 267 271 314 288 289 298
Total Assets 353 360 396 468 481 562 598 620 663 636 639 648

Cash Flows

Figures in Rs. Crores

Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
17 62 22 68 60 24 40 40 18 67 10 -25
-18 -13 -13 -41 -40 -37 -55 -25 -20 -14 -18 -18
6 -50 -14 -22 -12 6 17 4 -14 -58 10 44
Net Cash Flow 5 -1 -5 6 9 -8 2 19 -17 -4 2 1

Ratios

Figures in Rs. Crores

Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 56 58 56 18 16 37 26 25 24 23 27 32
Inventory Days 256 276 357 213 198 200 212 181 185 220 181 191
Days Payable 125 146 139 144 146 198 188 157 141 214 169 215
Cash Conversion Cycle 186 188 274 86 68 39 50 50 69 30 40 8
Working Capital Days 77 65 67 33 29 38 39 27 37 33 34 37
ROCE % 16% 25% 15% 2% 18% 16% 9% 6% 9% 4% 1%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00%
0.00% 0.00% 0.01% 0.01% 0.02% 0.02% 0.02% 0.02% 0.00% 0.00% 0.00% 0.00%
0.01% 0.01% 0.01% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
25.99% 25.99% 25.98% 25.98% 25.97% 25.98% 25.97% 25.97% 25.99% 26.00% 26.00% 25.99%
No. of Shareholders 13,32113,32114,55814,33313,90613,52813,54413,39513,25312,63812,49412,510

* 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.

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