GRP Ltd

About [ edit ]

GRP is engaged mainly in manufacturing of Reclaim Rubber. Its other businesses include Power generation from Windmill, Manufacturing of Engineering Plastics, Custom Die Forms and Polymer Composite Products.

  • Market Cap 126 Cr.
  • Current Price 953
  • High / Low 1,028 / 566
  • Stock P/E
  • Book Value 932
  • Dividend Yield 0.58 %
  • ROCE 2.86 %
  • ROE 2.23 %
  • Face Value 10.0

Pros

  • Stock is trading at 1.02 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 0.54% over past five years.
  • Company has a low return on equity of 1.98% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
77.60 90.19 97.81 91.85 89.83 88.85 90.58 79.44 31.65 75.15 84.64
72.45 83.86 88.11 88.02 84.71 84.04 86.07 74.94 34.08 69.90 78.03
Operating Profit 5.15 6.33 9.70 3.83 5.12 4.81 4.51 4.50 -2.43 5.25 6.61
OPM % 6.64% 7.02% 9.92% 4.17% 5.70% 5.41% 4.98% 5.66% -7.68% 6.99% 7.81%
Other Income 0.12 0.05 -0.16 0.24 0.09 0.14 0.10 0.30 0.14 0.21 0.32
Interest 1.55 1.66 1.47 0.05 1.15 1.26 2.04 3.73 2.13 0.96 1.38
Depreciation 3.27 3.31 3.37 3.37 3.33 3.36 3.57 3.39 2.98 3.37 3.21
Profit before tax 0.45 1.41 4.70 0.65 0.73 0.33 -1.00 -2.32 -7.40 1.13 2.34
Tax % 106.67% -31.21% 29.79% 69.23% -467.12% -48.48% 70.00% 40.95% 24.59% 20.35% 29.91%
Net Profit -0.03 1.85 3.87 0.20 4.14 0.49 -0.30 -1.37 -5.58 0.90 1.64
EPS in Rs -0.23 13.88 29.03 1.50 31.05 3.68 -2.25 -10.28 -41.85 6.75 12.30

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
130 142 186 244 274 309 339 315 304 300 357 349 271
107 117 156 200 242 273 317 286 278 281 332 330 257
Operating Profit 23 24 29 45 32 36 22 29 26 18 25 19 14
OPM % 17% 17% 16% 18% 12% 12% 7% 9% 9% 6% 7% 5% 5%
Other Income 4 3 4 5 3 1 8 -0 3 1 0 1 1
Interest 2 2 2 4 6 7 5 4 4 4 5 8 8
Depreciation 4 4 5 7 10 12 15 14 14 14 13 14 13
Profit before tax 21 21 26 39 18 18 11 10 11 1 7 -2 -6
Tax % 35% 35% 32% 33% 34% 39% 19% 24% 35% 197% 26% 232%
Net Profit 13 14 18 26 12 11 9 8 7 -1 5 3 -4
EPS in Rs 100.05 103.65 132.30 194.33 87.90 81.38 66.53 59.33 51.68 -5.63 39.98 22.28 -33.08
Dividend Payout % 17% 19% 17% 17% 17% 20% 17% 17% 19% -22% 20% 25%
Compounded Sales Growth
10 Years:9%
5 Years:1%
3 Years:5%
TTM:-25%
Compounded Profit Growth
10 Years:-15%
5 Years:-18%
3 Years:-25%
TTM:-197%
Stock Price CAGR
10 Years:-2%
5 Years:-2%
3 Years:-9%
1 Year:38%
Return on Equity
10 Years:9%
5 Years:4%
3 Years:2%
Last Year:2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
1 1 1 1 1 1 1 1 1 1 1 1 1
Reserves 41 52 66 87 96 105 111 118 125 123 128 126 123
Borrowings 18 24 40 76 90 85 67 68 67 57 65 86 63
20 24 28 47 49 52 53 50 51 48 52 56 52
Total Liabilities 81 101 136 211 237 242 233 237 244 230 247 269 239
38 49 69 107 139 136 130 132 134 126 122 122 117
CWIP 5 7 10 16 2 4 6 2 2 2 1 2 2
Investments 0 0 0 0 0 0 1 1 1 1 1 1 1
37 45 57 88 95 102 97 102 107 100 123 144 120
Total Assets 81 101 136 211 237 242 233 237 244 230 247 269 239

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
18 14 21 26 13 28 32 18 21 22 8 7
-7 -18 -30 -42 -32 -14 -8 -13 -16 -7 -9 -11
-11 4 11 27 6 -14 -24 -5 -6 -15 4 8
Net Cash Flow 1 -0 2 11 -13 1 -1 0 -2 1 3 4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 39% 34% 28% 31% 14% 14% 8% 8% 8% 3% 6% 3%
Debtor Days 66 72 61 63 64 59 54 63 58 63 67 68
Inventory Turnover 8.70 7.76 7.59 7.35 6.24 5.73 5.92 4.90 4.54 4.49 6.40 5.35

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
42.00 41.95 41.86 41.83 41.81 41.81 41.81 41.81 41.81 41.81 41.81 41.81
0.03 0.03 0.03 0.03 0.03 0.03 0.04 0.04 0.04 0.04 0.04 0.05
0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00
57.97 58.02 58.11 58.14 58.15 58.15 58.14 58.14 58.15 58.15 58.15 58.14

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