Goodricke Group Ltd

₹ 202 1.66%
31 Jan - close price
About

Incorporated in 1977, Goodricke Group Limited (GGL) is engaged in producing CTC and Orthodox tea. Almost 90% of the tea produced by GGL comprises of CTC variety with the balance 10% being of Orthodox quality.
GGL is a subsidiary of Camellia Plc, UK which is holding 74% in the company through its various subsidiaries.

Key Points

Largest producer of Darjeeling Tea
GGL is the leading producer of Darjeeling Tea and is well known for its iconic tea gardens as well as the authentic tea-making process. GGL's brand Goodricke holds high heritage value. GGL is an established player in the bulk tea industry. [1]

  • Market Cap 436 Cr.
  • Current Price 202
  • High / Low 271 / 167
  • Stock P/E
  • Book Value 167
  • Dividend Yield 1.49 %
  • ROCE 3.93 %
  • ROE 1.65 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 52.0%

Cons

  • The company has delivered a poor sales growth of 3.93% over past five years.
  • Company has a low return on equity of 4.40% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.12.2 Cr.

* 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

Figures in Rs. Crores

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
248 286 88 141 341 297 112 173 276 285 89 195 280
187 282 134 119 264 301 162 159 219 281 137 188 224
Operating Profit 61 5 -46 22 77 -4 -51 13 57 4 -48 7 56
OPM % 25% 2% -53% 15% 23% -1% -45% 8% 21% 1% -54% 4% 20%
3 5 3 1 3 2 3 3 5 1 1 6 4
Interest 2 3 2 2 2 3 1 2 2 2 1 1 2
Depreciation 5 5 6 5 5 5 5 5 5 5 5 5 5
Profit before tax 56 1 -51 16 73 -9 -54 9 55 -2 -53 7 54
Tax % 0% 0% 7% 0% 0% 0% -12% 0% 0% 0% -7% 21% 26%
Net Profit 56 1 -47 16 73 -9 -61 9 55 -2 -57 6 40
EPS in Rs 26.03 0.52 -21.71 7.49 33.73 -4.15 -28.03 4.19 25.66 -1.02 -26.38 2.58 18.36
Raw PDF

Profit & Loss

Figures in Rs. Crores

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
399 460 540 579 602 733 679 731 749 791 892 823 850
334 404 503 523 566 718 629 686 718 761 847 797 830
Operating Profit 65 56 36 56 35 15 49 45 31 31 45 26 20
OPM % 16% 12% 7% 10% 6% 2% 7% 6% 4% 4% 5% 3% 2%
9 8 8 10 10 11 14 21 15 12 10 10 12
Interest 2 3 5 5 3 3 1 2 5 9 8 6 5
Depreciation 9 11 12 13 13 21 14 15 16 21 21 21 21
Profit before tax 63 50 27 49 29 3 49 49 26 13 26 9 5
Tax % 29% 26% 27% 31% 23% 526% 32% 35% 63% -29% 26% 43%
Net Profit 45 37 20 33 22 -12 33 32 9 16 20 5 -14
EPS in Rs 20.83 17.32 9.26 15.44 10.30 -5.62 15.34 14.69 4.39 7.56 9.04 2.44 -6.46
Dividend Payout % 24% 23% 43% 29% 44% -71% 29% 31% 91% 0% 33% 123%
Compounded Sales Growth
10 Years: 6%
5 Years: 4%
3 Years: 3%
TTM: -1%
Compounded Profit Growth
10 Years: -18%
5 Years: -31%
3 Years: -18%
TTM: -178%
Stock Price CAGR
10 Years: 3%
5 Years: -13%
3 Years: 3%
1 Year: -10%
Return on Equity
10 Years: 7%
5 Years: 5%
3 Years: 4%
Last Year: 2%

Balance Sheet

Figures in Rs. Crores

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
22 22 22 22 22 22 22 22 22 22 22 22 22
Reserves 122 149 159 181 192 252 270 285 285 279 298 301 339
0 21 42 8 8 0 0 19 53 88 82 42 120
106 128 131 150 175 195 190 236 239 231 262 272 289
Total Liabilities 249 320 353 360 396 468 481 562 598 620 663 636 770
78 86 95 98 100 209 217 250 300 315 313 316 306
CWIP 4 4 1 2 2 33 37 40 31 34 35 33 40
Investments 0 0 0 0 0 0 14 0 0 0 0 0 0
168 230 257 261 294 227 213 272 267 271 314 288 423
Total Assets 249 320 353 360 396 468 481 562 598 620 663 636 770

Cash Flows

Figures in Rs. Crores

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
52 4 17 62 22 68 60 24 40 40 18 67
-23 -23 -18 -13 -13 -41 -40 -37 -55 -25 -20 -14
-21 6 6 -50 -14 -22 -12 6 17 4 -14 -58
Net Cash Flow 9 -13 5 -1 -5 6 9 -8 2 19 -17 -4

Ratios

Figures in Rs. Crores

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 37 64 56 58 56 18 16 37 26 25 24 23
Inventory Days 344 320 256 276 357 213 198 200 212 181 185 220
Days Payable 174 162 125 146 139 144 146 198 188 157 141 214
Cash Conversion Cycle 206 222 186 188 274 86 68 39 50 50 69 30
Working Capital Days 40 76 77 65 67 33 29 38 39 27 37 28
ROCE % 49% 31% 16% 25% 15% 2% 18% 16% 9% 6% 9% 4%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
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 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.02 0.02 0.02
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00
25.99 25.99 25.99 25.99 25.99 25.99 25.99 25.98 25.98 25.97 25.98 25.97

* 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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