Gujarat Raffia Industries Ltd

Gujarat Raffia Industries Ltd

₹ 36.0 0.98%
18 Apr - close price
About

Incorporated in 1984, Gujarat Raffia Industries Limited manufactures PE / HDPE Tarpaulins, PP Bags, Geomembrane, Agro Vermibed etc.

Key Points

Product Portfolio:[1]
a) Industrial Products:
HDPE Tarpaulin
PP Woven Bags
Railway Wagon Covers
Fumigation Covers
b) Agricultural Products:
Sharkmat (Pond Liner)
Agricultural Vermibed
Azolla Bed
HDPE Grow Bags
HDPE Weed Mats
c) Camping & Relief Products:
Tarpaulin Tents
Plastic Sheeting / PE Tarpaulin
GRIL PP Ropes

  • Market Cap 19.2 Cr.
  • Current Price 36.0
  • High / Low 64.2 / 26.4
  • Stock P/E 31.5
  • Book Value 37.6
  • Dividend Yield 0.00 %
  • ROCE 6.90 %
  • ROE 4.08 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.96 times its book value
  • Debtor days have improved from 67.3 to 40.9 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 0.32% over past five years.
  • Promoter holding is low: 39.6%
  • Company has a low return on equity of 5.26% over last 3 years.
  • Earnings include an other income of Rs.2.30 Cr.
  • Company's cost of borrowing seems high

* 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: Textiles Industry: Textiles - Products

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
7.26 10.21 9.42 10.06 5.64 12.86 12.82 7.33 8.26 10.83 9.03 7.63 7.15
6.86 8.91 8.82 9.54 5.11 12.48 11.64 7.60 7.80 10.81 8.55 7.98 6.91
Operating Profit 0.40 1.30 0.60 0.52 0.53 0.38 1.18 -0.27 0.46 0.02 0.48 -0.35 0.24
OPM % 5.51% 12.73% 6.37% 5.17% 9.40% 2.95% 9.20% -3.68% 5.57% 0.18% 5.32% -4.59% 3.36%
-0.00 0.28 0.05 0.26 0.06 0.19 0.03 1.01 0.38 0.82 0.24 0.85 0.39
Interest 0.03 0.08 0.03 0.06 0.07 0.15 0.40 0.18 0.23 0.26 0.21 0.10 0.09
Depreciation 0.15 0.98 0.24 0.24 0.24 0.25 0.32 0.32 0.33 0.31 0.33 0.33 0.33
Profit before tax 0.22 0.52 0.38 0.48 0.28 0.17 0.49 0.24 0.28 0.27 0.18 0.07 0.21
Tax % 13.64% -9.62% 15.79% 16.67% 14.29% 5.88% 16.33% 16.67% 28.57% 22.22% 16.67% 14.29% 14.29%
0.19 0.57 0.32 0.40 0.23 0.16 0.42 0.20 0.20 0.22 0.15 0.06 0.18
EPS in Rs 0.35 1.05 0.59 0.74 0.43 0.30 0.78 0.37 0.37 0.41 0.28 0.11 0.33
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
27.45 27.72 36.50 38.74 37.03 36.50 38.62 47.56 33.76 38.79 37.98 39.24 34.64
26.22 25.99 33.46 34.42 33.63 32.45 35.44 45.05 32.21 36.22 35.94 37.76 34.25
Operating Profit 1.23 1.73 3.04 4.32 3.40 4.05 3.18 2.51 1.55 2.57 2.04 1.48 0.39
OPM % 4.48% 6.24% 8.33% 11.15% 9.18% 11.10% 8.23% 5.28% 4.59% 6.63% 5.37% 3.77% 1.13%
0.25 0.05 0.31 0.10 0.72 0.04 0.01 0.43 0.51 0.31 0.56 2.14 2.30
Interest 0.25 0.40 1.18 1.38 1.11 1.36 0.91 0.72 0.30 0.19 0.32 1.06 0.66
Depreciation 0.53 0.65 1.22 2.06 2.01 1.71 1.21 1.07 1.21 1.44 0.97 1.28 1.30
Profit before tax 0.70 0.73 0.95 0.98 1.00 1.02 1.07 1.15 0.55 1.25 1.31 1.28 0.73
Tax % 20.00% 19.18% 20.00% 19.39% 21.00% 23.53% 20.56% 20.00% 41.82% 4.80% 14.50% 19.53%
0.57 0.58 0.77 0.80 0.79 0.78 0.85 0.92 0.33 1.19 1.12 1.03 0.61
EPS in Rs 1.14 1.16 1.54 1.60 1.58 1.56 1.70 1.70 0.61 2.20 2.07 1.91 1.13
Dividend Payout % -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00%
Compounded Sales Growth
10 Years: 4%
5 Years: 0%
3 Years: 5%
TTM: -16%
Compounded Profit Growth
10 Years: 3%
5 Years: -1%
3 Years: 34%
TTM: -38%
Stock Price CAGR
10 Years: 24%
5 Years: 15%
3 Years: -6%
1 Year: 25%
Return on Equity
10 Years: 6%
5 Years: 5%
3 Years: 5%
Last Year: 4%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 4.99 4.99 4.99 4.99 4.99 4.99 4.99 5.40 5.40 5.40 5.40 5.40 5.40
Reserves 4.39 4.97 5.74 6.68 7.47 8.25 9.10 11.05 11.38 12.57 13.69 14.71 14.93
5.92 13.28 20.58 17.90 18.26 10.85 10.23 11.61 1.20 3.22 8.22 12.55 5.44
3.46 4.60 6.00 5.40 3.95 9.23 8.10 9.02 7.67 3.27 5.49 3.06 5.62
Total Liabilities 18.76 27.84 37.31 34.97 34.67 33.32 32.42 37.08 25.65 24.46 32.80 35.72 31.39
3.29 2.64 16.52 14.86 13.01 11.31 10.19 9.57 9.03 7.64 9.15 12.13 11.48
CWIP 0.81 4.71 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
Investments 0.05 0.05 0.05 0.05 0.05 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
14.61 20.44 20.74 20.06 21.61 22.01 22.23 27.51 16.62 16.82 23.65 23.59 19.91
Total Assets 18.76 27.84 37.31 34.97 34.67 33.32 32.42 37.08 25.65 24.46 32.80 35.72 31.39

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-2.50 -2.14 6.22 3.98 0.95 8.37 3.47 -0.56 9.07 -0.76 -5.88 7.38
0.65 -3.86 -10.31 -0.21 -0.05 0.08 -0.08 -0.40 -0.61 0.17 -2.40 -4.23
0.82 6.83 4.09 -4.08 -0.76 -8.77 -1.03 3.62 -10.35 1.70 4.62 3.29
Net Cash Flow -1.03 0.83 -0.00 -0.30 0.14 -0.32 2.36 2.66 -1.89 1.11 -3.66 6.44

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 39.62 83.22 88.10 57.76 88.51 105.90 92.43 82.58 58.38 59.94 101.10 40.93
Inventory Days 185.42 205.54 133.67 151.61 144.01 134.33 106.92 97.65 92.87 58.42 120.98 111.68
Days Payable 6.19 47.17 18.27 25.20 23.67 26.73 21.51 46.77 37.99 11.68 39.96 16.06
Cash Conversion Cycle 218.85 241.59 203.50 184.16 208.85 213.51 177.84 133.46 113.26 106.68 182.12 136.54
Working Capital Days 148.26 197.77 119.00 114.66 148.35 105.10 94.79 101.76 61.41 86.66 167.32 124.46
ROCE % 6.34% 5.86% 7.81% 7.75% 7.03% 8.68% 8.18% 7.14% 3.69% 6.48% 6.47% 6.90%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
39.26% 39.26% 39.27% 39.27% 39.27% 39.27% 39.55% 39.55% 39.55% 39.55% 39.56% 39.56%
60.74% 60.74% 60.73% 60.73% 60.73% 60.73% 60.46% 60.45% 60.46% 60.45% 60.44% 60.45%
No. of Shareholders 26,97026,89328,31528,31528,45328,53028,46028,32928,33128,25928,29628,402

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