Hindware Home Innovation Ltd

Hindware Home Innovation Ltd

₹ 419 0.23%
27 Feb 4:01 p.m.
About

Somany Home Innovations Ltd. (SHIL) is a newly created Corporate Entity which was demerged from HSIL Limited, vastly recognised by its Brand Hindware, a leading name in the Indian market. SHIL is focused on servicing end-consumers in the market and is involved in branding, marketing, sales, distribution, trading, service etc. of Consumer Appliances under the Brand name ‘Hindware’, ‘Moonbow’ and Furniture Retail Business under the Brand name ‘Evok’. [1]

Key Points

Dependence on HSIL Ltd.
The company was demerged from HSIL Ltd. in August 2019 and post demerger, it undertook business of branding, marketing, sales, distribution, trading etc of various building products (like Sanitaryware Products, faucets, shower enclosures, CPVC, UPVC Pipes and fittings or other accessories/ allied products). HSIL Limited is in contract with Brilloca Limited (wholly owned subsidiary of Somany Home Innovations) for the supply of building products as per the specifications of Brilloca Limited at the price mutually agreed by both the parties. [1]

  • Market Cap 3,032 Cr.
  • Current Price 419
  • High / Low 664 / 325
  • Stock P/E 63.6
  • Book Value 81.8
  • Dividend Yield 0.12 %
  • ROCE 14.7 %
  • ROE 10.3 %
  • Face Value 2.00

Pros

  • Debtor days have improved from 60.2 to 48.0 days.

Cons

  • Company has low interest coverage ratio.
  • Working capital days have increased from 43.0 days to 62.7 days

* 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: Trading Industry: Trading

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
551.37 613.30 342.30 616.69 649.01 685.63 678.09 714.80 712.53 767.85 633.91 700.35 692.93
495.78 548.70 331.82 567.21 595.83 623.95 619.58 659.17 662.84 685.24 573.83 628.47 642.30
Operating Profit 55.59 64.60 10.48 49.48 53.18 61.68 58.51 55.63 49.69 82.61 60.08 71.88 50.63
OPM % 10.08% 10.53% 3.06% 8.02% 8.19% 9.00% 8.63% 7.78% 6.97% 10.76% 9.48% 10.26% 7.31%
4.06 5.33 107.37 8.44 8.79 5.56 8.16 8.62 10.70 7.15 8.36 8.11 10.67
Interest 5.69 5.65 5.20 5.58 4.44 5.20 13.53 18.65 21.99 22.93 22.49 24.32 23.53
Depreciation 8.69 8.60 8.73 10.02 10.00 10.58 22.32 25.16 25.13 28.37 29.20 30.41 31.34
Profit before tax 45.27 55.68 103.92 42.32 47.53 51.46 30.82 20.44 13.27 38.46 16.75 25.26 6.43
Tax % 16.81% 60.02% 0.39% 43.60% 24.62% 21.73% 59.44% 24.12% 26.53% 25.35% 82.87% 17.38% 4.82%
37.66 22.26 103.63 24.88 35.86 37.31 10.78 16.25 7.78 22.75 0.67 19.70 4.53
EPS in Rs 5.21 3.08 14.33 3.44 4.96 5.16 1.49 2.25 1.08 3.15 0.09 2.72 0.63
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,671 1,613 1,775 2,294 2,873 2,795
1,546 1,525 1,632 2,118 2,627 2,530
Operating Profit 124 88 143 176 246 265
OPM % 7% 5% 8% 8% 9% 9%
9 24 18 129 35 34
Interest 29 33 29 20 77 93
Depreciation 20 46 39 39 101 119
Profit before tax 85 33 92 245 103 87
Tax % 36% 30% 41% 17% 35%
55 23 55 202 58 48
EPS in Rs 3.20 7.59 27.90 7.90 6.59
Dividend Payout % 0% 5% 4% 2% 6%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 21%
TTM: 0%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 35%
TTM: -34%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 14%
1 Year: 14%
Return on Equity
10 Years: %
5 Years: %
3 Years: 18%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0 14 14 14 14 14
Reserves 242 260 315 512 561 577
303 328 242 374 958 1,065
431 407 466 1,245 769 725
Total Liabilities 976 1,010 1,039 2,146 2,303 2,381
108 190 157 743 912 712
CWIP 4 5 11 58 36 235
Investments 0 0 26 114 88 100
863 815 845 1,230 1,267 1,335
Total Assets 976 1,010 1,039 2,146 2,303 2,381

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
79 40 234 226 221
65 -31 -52 -124 -705
-123 -28 -178 -83 467
Net Cash Flow 22 -19 5 19 -17

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 78 81 84 49 48
Inventory Days 94 105 86 158 283
Days Payable 57 38 44 59 123
Cash Conversion Cycle 115 149 126 147 208
Working Capital Days 91 103 75 -9 63
ROCE % 12% 21% 22% 15%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
51.11% 51.11% 51.11% 51.32% 51.32% 51.32% 51.32% 51.32% 51.32% 51.32% 51.32% 51.32%
2.48% 2.43% 3.74% 3.63% 3.31% 3.02% 3.18% 4.36% 4.96% 5.03% 7.15% 7.59%
6.98% 6.90% 5.74% 5.92% 5.83% 6.34% 6.50% 7.27% 8.27% 9.02% 9.16% 9.82%
39.43% 39.56% 39.41% 39.13% 39.54% 39.32% 39.01% 37.06% 35.45% 34.63% 32.36% 31.27%
No. of Shareholders 27,47528,69327,82429,93535,14635,55437,66037,60337,83041,48842,24536,002

* 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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Documents

Concalls