KCP Sugar & Industries Corporation Ltd

About

KCP Sugar & Industries Corporation is engaged in one among the leading sugar manufacturing companies in India. Its allied business consists of manufacturing and marketing of Rectified Spirit, Extra Neutral Alcohol, Ethanol, Incidental Cogeneration of Power, Organic Manure, Mycorrhiza Vam, Calcium Lactate and CO2.(Source : 201903 Annual Report Page No: 76)

  • Market Cap 180 Cr.
  • Current Price 15.9
  • High / Low 19.5 / 8.55
  • Stock P/E
  • Book Value 25.9
  • Dividend Yield 0.63 %
  • ROCE 2.05 %
  • ROE -2.17 %
  • Face Value 1.00

Pros

  • Stock is trading at 0.61 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor growth of -1.64% over past five years.
  • Company has a low return on equity of 1.72% for last 3 years.
  • Earnings include an other income of Rs.23.61 Cr.

Peer comparison

Sector: Sugar Industry: Sugar

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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
98.60 65.67 90.29 104.88 97.86 99.88 104.53 90.35 73.59 77.81
79.24 58.18 103.49 71.78 87.38 92.27 106.12 101.58 69.75 77.87
Operating Profit 19.36 7.49 -13.20 33.10 10.48 7.61 -1.59 -11.23 3.84 -0.06
OPM % 19.63% 11.41% -14.62% 31.56% 10.71% 7.62% -1.52% -12.43% 5.22% -0.08%
Other Income 1.49 3.68 9.86 0.61 2.23 2.11 10.19 -0.67 12.13 1.96
Interest 4.44 5.23 4.14 5.95 4.77 6.04 5.55 5.49 6.46 6.26
Depreciation 0.77 0.67 2.34 4.91 1.01 0.64 2.38 4.01 0.70 0.70
Profit before tax 15.64 5.27 -9.82 22.85 6.93 3.04 0.67 -21.40 8.81 -5.06
Tax % 52.56% 90.70% -3.97% 18.51% 53.54% -89.14% -405.97% 12.94% -9.65% 7.91%
Net Profit 7.42 0.49 -10.21 18.62 3.22 5.76 3.39 -18.62 9.66 -4.67
EPS in Rs 0.65 0.04 -0.90 1.64 0.28 0.51 0.30 -1.64 0.85 -0.41
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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
210 278 233 359 451 385 426 402 442 351 359 393 346
181 232 210 315 380 335 447 383 383 392 313 387 355
Operating Profit 29 46 23 45 71 50 -20 19 59 -41 47 5 -9
OPM % 14% 16% 10% 12% 16% 13% -5% 5% 13% -12% 13% 1% -3%
Other Income 6 5 9 10 6 8 11 13 36 62 16 14 24
Interest 5 4 6 7 6 5 4 7 12 15 20 22 24
Depreciation 11 11 11 13 11 12 11 11 10 9 9 8 8
Profit before tax 19 35 15 35 59 41 -25 14 74 -3 34 -11 -17
Tax % 38% 31% 12% 18% 31% 20% 43% 13% 22% 483% 52% 42%
Net Profit 12 24 13 28 41 33 -14 12 57 12 16 -6 -10
EPS in Rs 1.03 2.15 1.13 2.51 3.61 2.92 -1.23 1.05 5.04 1.01 1.44 -0.55 -0.90
Dividend Payout % 68% 35% 40% 28% 28% 29% -8% 24% 18% 10% 7% -18%
Compounded Sales Growth
10 Years:4%
5 Years:-2%
3 Years:-4%
TTM:-12%
Compounded Profit Growth
10 Years:%
5 Years:10%
3 Years:%
TTM:-159%
Stock Price CAGR
10 Years:-2%
5 Years:-11%
3 Years:-22%
1 Year:23%
Return on Equity
10 Years:7%
5 Years:6%
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
11 11 11 11 11 11 11 11 11 11 11 11 11
Reserves 150 164 171 190 218 240 220 229 271 270 286 278 282
Borrowings 60 50 98 109 50 87 99 107 140 209 220 265 188
108 105 146 135 167 173 155 180 126 99 180 121 91
Total Liabilities 329 330 427 446 447 511 486 527 548 590 697 676 573
141 138 131 123 118 108 108 105 108 100 99 92 89
CWIP 1 2 2 2 2 8 2 1 1 0 0 2 1
Investments 3 16 24 35 33 40 46 47 147 188 148 141 150
184 174 269 286 294 356 330 375 292 301 450 441 332
Total Assets 329 330 427 446 447 511 486 527 548 590 697 676 573

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
4 44 22 20 28 -5 15 15 50 -70 -52 24
-0 -20 -6 -8 -3 -10 -7 0 -93 7 29 2
-18 -24 -14 -14 -25 19 -4 -10 36 69 17 -23
Net Cash Flow -14 -0 1 -2 -0 4 4 5 -7 6 -6 3

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 % 10% 18% 7% 12% 23% 15% -7% 5% 22% 1% 11% 2%
Debtor Days 34 22 32 24 27 29 33 49 27 30 29 35
Inventory Turnover 0.87 1.23 0.79 1.02 1.18 0.88 1.40 1.17 1.18 1.37 0.68 0.83

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
40.23 40.43 40.43 40.43 40.45 40.45 40.46 40.50 40.50 40.59 40.59 40.59
0.18 0.21 0.23 0.17 0.07 0.09 0.23 0.04 0.07 0.01 0.01 0.01
59.59 59.36 59.34 59.39 59.47 59.45 59.31 59.47 59.44 59.40 59.40 59.40

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