KCP Sugar & Industries Corporation Ltd

KCP Sugar & Industries Corporation Ltd

₹ 38.8 -0.51%
04 Mar 3:54 p.m.
About

K.C.P. Sugar and Industries Corporation Ltd is engaged in the manufacturing of sugar as well as its associated products such as Rectified Spirit, Extra Neutral Alcohol, Ethanol, Incidental Cogeneration of Power etc. [1]

Key Points

Business Segments
Sugar: The Co crushed 4.1 lakh MT of sugarcane with recovery of 9.27% during FY21 compared to 7.8 lakh MT crushing with recovery of 9.22% in FY20.
Distillery: The Distillery Unit produced 64.82 Lakh Litres of Industrial / Anhydrous Alcohol in FY21 as against 119.29 Lakh Litres during FY20.
Power: The Cogeneration Unit produced 15 MW [1]

  • Market Cap 440 Cr.
  • Current Price 38.8
  • High / Low 54.0 / 21.0
  • Stock P/E 8.80
  • Book Value 38.0
  • Dividend Yield 0.51 %
  • ROCE 4.98 %
  • ROE 2.99 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Stock is trading at 1.10 times its book value
  • Debtor days have improved from 37.6 to 27.9 days.

Cons

  • The company has delivered a poor sales growth of -3.82% over past five years.
  • Company has a low return on equity of 3.69% over last 3 years.
  • Earnings include an other income of Rs.53.5 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.

Peer comparison

Sector: Sugar Industry: Sugar

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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
89.47 87.68 60.71 78.97 114.29 65.43 73.68 82.09 74.43 59.06 95.84 93.51 82.65
90.39 90.38 61.74 67.07 119.55 57.04 73.82 69.20 88.48 53.62 84.79 81.99 86.26
Operating Profit -0.92 -2.70 -1.03 11.90 -5.26 8.39 -0.14 12.89 -14.05 5.44 11.05 11.52 -3.61
OPM % -1.03% -3.08% -1.70% 15.07% -4.60% 12.82% -0.19% 15.70% -18.88% 9.21% 11.53% 12.32% -4.37%
19.57 14.01 14.61 5.23 2.42 -6.22 6.25 23.68 56.04 -1.45 27.40 22.92 4.59
Interest 4.69 6.95 5.69 5.09 3.71 5.20 4.15 3.17 2.92 4.05 3.76 2.97 1.78
Depreciation 1.58 3.38 0.43 0.53 1.25 2.97 0.64 0.65 1.37 2.74 0.74 0.76 1.34
Profit before tax 12.38 0.98 7.46 11.51 -7.80 -6.00 1.32 32.75 37.70 -2.80 33.95 30.71 -2.14
Tax % 8.64% -614.29% -15.82% 25.63% -9.10% 15.00% 208.33% 11.63% -1.09% -202.50% 9.63% 8.95% -101.40%
11.31 7.00 8.64 8.56 -8.52 -5.11 -1.43 28.94 38.11 -8.47 30.68 27.95 -4.32
EPS in Rs 1.00 0.62 0.76 0.75 -0.75 -0.45 -0.13 2.55 3.36 -0.75 2.71 2.47 -0.38
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
359 451 385 426 402 442 351 359 393 329 319 289 331
320 380 335 447 383 383 392 313 387 328 305 285 307
Operating Profit 40 71 50 -20 19 59 -41 47 5 0 14 4 24
OPM % 11% 16% 13% -5% 5% 13% -12% 13% 1% 0% 4% 1% 7%
14 6 8 11 13 36 62 16 14 48 16 85 53
Interest 7 6 5 4 7 12 15 20 22 24 20 14 13
Depreciation 13 11 12 11 11 10 9 9 8 6 5 5 6
Profit before tax 35 59 41 -25 14 74 -3 34 -11 17 5 69 60
Tax % 18% 31% 20% 43% 13% 22% 483% 52% 42% -36% 31% 17%
28 41 33 -14 12 57 12 16 -6 23 4 57 46
EPS in Rs 2.51 3.61 2.92 -1.23 1.05 5.04 1.01 1.44 -0.55 2.05 0.32 5.04 4.05
Dividend Payout % 28% 28% 29% -8% 24% 18% 10% 7% -18% 5% 32% 4%
Compounded Sales Growth
10 Years: -4%
5 Years: -4%
3 Years: -10%
TTM: 12%
Compounded Profit Growth
10 Years: -13%
5 Years: 14%
3 Years: 54%
TTM: 2%
Stock Price CAGR
10 Years: 9%
5 Years: 16%
3 Years: 33%
1 Year: 60%
Return on Equity
10 Years: 5%
5 Years: 3%
3 Years: 4%
Last Year: 3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 11 11 11 11 11 11 11 11 11 11 11 11 11
Reserves 190 218 240 220 229 271 270 286 278 302 304 360 420
109 50 87 99 107 140 209 220 265 270 190 185 91
135 167 173 155 180 126 99 180 121 59 73 71 68
Total Liabilities 446 447 511 486 527 548 590 697 676 643 578 628 591
123 118 108 108 105 108 100 99 92 91 92 96 98
CWIP 2 2 8 2 1 1 0 0 2 3 1 1 3
Investments 35 33 40 46 47 147 188 148 141 178 180 210 250
286 294 356 330 375 292 301 450 441 371 304 322 240
Total Assets 446 447 511 486 527 548 590 697 676 643 578 628 591

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
20 28 -5 15 15 50 -70 -52 27 17 114 6
-8 -3 -10 -7 0 -93 7 29 -1 -11 1 34
-14 -25 19 -4 -10 36 69 17 -23 -11 -102 -20
Net Cash Flow -2 -0 4 4 5 -7 6 -6 3 -5 14 20

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 24 27 29 33 49 27 30 29 35 51 33 28
Inventory Days 374 306 466 243 331 280 265 684 422 373 356 425
Days Payable 117 122 167 104 140 78 75 244 82 21 35 26
Cash Conversion Cycle 281 211 328 171 240 230 220 468 375 403 355 427
Working Capital Days 169 115 181 147 162 131 153 241 250 332 234 271
ROCE % 12% 23% 15% -7% 5% 22% 1% 11% 2% 7% 4% 5%

Shareholding Pattern

Numbers in percentages

3 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
40.59% 40.59% 40.59% 40.59% 40.59% 40.59% 40.59% 40.59% 40.59% 40.59% 40.59% 40.59%
0.00% 0.00% 0.00% 0.01% 0.19% 0.28% 0.08% 0.33% 0.07% 0.00% 0.65% 0.28%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
59.40% 59.40% 59.40% 59.39% 59.21% 59.12% 59.33% 59.07% 59.33% 59.40% 58.75% 59.14%
No. of Shareholders 30,73633,81437,54741,04945,26749,36548,57748,92848,48647,38948,47946,862

* 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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