Indian Terrain Fashions Ltd

₹ 44.0 -1.57%
28 Jun - close price
About

Indian Terrain is in the business of branded apparels in India. ITFL operates within India and offers a variety of ranges from Shirts, Trousers, Shorts, and T-shirts, etc. [1]
The company started its operations in 2000 with celebrity fashions limited and the company got demerged from Celebrity Fashions Limited into a separate listed entity in April 2010. The company started with 20 Exclusive brand Outlets. [2]

Key Points

A recognized brand in the Men’s Casual Wear
It has established its niche in the Men’s segment with a diverse range of apparel offerings with shirts, shorts, tees, trousers, etc. These are retailed through various channels across India which are Multi-branded Outlets (MBO), Exclusive brand outlets (EBO), Large formats stores (LFO), and E-commerce platforms.
It is positioned as a premium, smart casual brand targeting affluent men in the age group of 25-44 years who are adopting the ready to wear apparels in comparison to ready to stitch
It is also increasing its investments towards building a stronger brand with the adoption of social media marketing, digital marketing, and engagement with the end consumer to enhance and better serve its end users {# https://www.bseindia.com/bseplus/AnnualReport/533329/65206533329.pdf#page=30 #{

  • Market Cap 181 Cr.
  • Current Price 44.0
  • High / Low 74.8 / 35.1
  • Stock P/E
  • Book Value 47.8
  • Dividend Yield 0.00 %
  • ROCE 3.57 %
  • ROE -1.11 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.92 times its book value
  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 0.63% over past five years.
  • Promoter holding is low: 29.12%
  • Company has a low return on equity of -7.29% for last 3 years.
  • Promoters have pledged 63.91% of their holding.
  • Company has high debtors of 243.03 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: Textiles Industry: Textiles - Products

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Quarterly Results

Figures in Rs. Crores

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
83.30 116.23 92.15 77.98 13.39 39.32 68.79 91.67 27.53 97.12 102.97 108.68
68.96 102.02 79.85 90.79 37.56 48.48 67.71 78.09 33.01 88.56 91.22 96.66
Operating Profit 14.34 14.21 12.30 -12.81 -24.17 -9.16 1.08 13.58 -5.48 8.56 11.75 12.02
OPM % 17.21% 12.23% 13.35% -16.43% -180.51% -23.30% 1.57% 14.81% -19.91% 8.81% 11.41% 11.06%
0.70 0.77 0.69 1.69 4.44 3.24 2.39 1.31 3.43 2.02 0.76 1.13
Interest 4.16 5.19 5.74 5.53 7.15 6.42 5.50 4.58 4.66 4.72 4.65 4.75
Depreciation 5.12 5.47 5.72 6.48 5.52 5.28 5.89 6.62 6.31 5.62 5.57 5.64
Profit before tax 5.76 4.32 1.53 -23.13 -32.40 -17.62 -7.92 3.69 -13.02 0.24 2.29 2.76
Tax % 34.90% -3.70% 94.77% 19.28% 0.46% 0.74% 1.26% -626.29% 7.07% -716.67% 35.37% -134.06%
Net Profit 3.75 4.48 0.08 -18.67 -32.25 -17.49 -7.82 26.80 -12.10 1.96 1.48 6.46
EPS in Rs 0.99 1.18 0.02 -4.92 -8.50 -4.61 -1.90 6.52 -2.94 0.48 0.36 1.57

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
121 141 157 232 290 325 326 401 422 370 213 336
109 129 141 208 257 284 286 354 372 342 232 309
Operating Profit 12 12 15 24 34 41 40 48 51 28 -19 27
OPM % 10% 9% 10% 10% 12% 13% 12% 12% 12% 8% -9% 8%
1 1 1 0 1 5 5 2 3 4 11 7
Interest 5 10 10 10 9 7 9 7 8 21 24 19
Depreciation 1 1 1 2 3 2 3 4 6 23 23 23
Profit before tax 6 2 5 12 23 37 33 39 40 -12 -54 -8
Tax % 3% 24% 14% 21% 21% 11% 31% 35% 35% 10% 43% 72%
Net Profit 6 2 4 10 18 33 23 25 26 -10 -31 -2
EPS in Rs 2.26 0.63 1.47 3.47 5.01 8.99 6.02 6.71 6.78 -2.73 -7.48 -0.54
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 9%
5 Years: 1%
3 Years: -7%
TTM: 58%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 93%
Stock Price CAGR
10 Years: 13%
5 Years: -26%
3 Years: -25%
1 Year: 3%
Return on Equity
10 Years: 6%
5 Years: 0%
3 Years: -7%
Last Year: -1%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
6 6 6 6 7 7 8 8 8 8 8 8
Reserves 14 15 20 30 119 154 171 196 222 209 190 188
51 61 61 56 39 45 44 37 33 123 114 109
27 37 35 48 50 64 78 136 155 164 153 167
Total Liabilities 98 119 121 141 216 270 301 377 418 503 466 473
9 9 8 8 7 27 35 49 53 128 111 94
CWIP 0 0 0 0 0 0 2 0 0 0 0 0
Investments 0 0 0 0 59 0 0 0 30 21 22 19
89 110 113 133 150 243 264 328 335 354 333 360
Total Assets 98 119 121 141 216 270 301 377 418 503 466 473

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-48 5 6 14 12 23 12 19 5 14 14 22
-10 -1 0 1 -59 41 -8 -17 -37 4 5 3
61 -1 -10 -14 47 -0 -7 -14 -12 -22 -20 -23
Net Cash Flow 3 3 -3 0 1 64 -3 -12 -45 -4 -1 3

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 135 162 161 121 120 132 122 162 207 248 388 243
Inventory Days 292 202 196 175 108 115 159 136 99 121 163 143
Days Payable 116 130 131 66 69 101 103 141 126 166 242 174
Cash Conversion Cycle 312 234 226 230 159 146 179 157 180 203 309 212
Working Capital Days 162 151 157 115 115 120 126 132 154 193 281 203
ROCE % 32% 15% 16% 24% 24% 21% 17% 19% 18% 3% -10% 4%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
29.35 30.09 30.09 30.09 30.09 30.09 27.78 27.78 28.01 28.01 28.35 29.12
14.26 12.29 12.02 12.00 8.18 6.20 6.45 6.45 7.06 7.16 7.32 7.19
28.86 28.30 27.65 26.91 16.93 14.73 15.95 10.18 6.64 4.75 3.65 3.65
27.53 29.32 30.24 31.00 44.80 48.98 49.81 55.59 58.29 60.08 60.68 60.04

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