KDDL Ltd

KDDL Ltd

₹ 2,635 4.15%
23 Apr 3:44 p.m.
About

Incorporated in 1981, KDDL manufactures watch components like dials, hands and precision engineering goods under the brand name, Eigen. [1]

Key Points

Brand Portfolio
1. Ethos: Ethos Watches is India’s largest chain of luxury watch boutiques with 50 stores in India and over 60 premium luxury watch brands. [1]
2. Estima: It supplies high-quality stamped watch hands for the watch industry in Switzerland. [2]
3. Eigen Engineering: It specializes in precision press die design and manufacturing of metal stamping components, plastic injection molds, insert and over molds, etc. [3]
4. Taratec: Taratec KDDL manufactures Watch Dials, Watch Hands, and Indexes for global watch brands. [4]

  • Market Cap 3,304 Cr.
  • Current Price 2,635
  • High / Low 3,120 / 1,032
  • Stock P/E 35.4
  • Book Value 402
  • Dividend Yield 2.23 %
  • ROCE 18.1 %
  • ROE 15.1 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 27.3% CAGR over last 5 years

Cons

  • Stock is trading at 6.38 times its book value
  • Company has a low return on equity of 12.0% over last 3 years.

* 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: Consumer Durables Industry: Miscellaneous

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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
178 178 139 193 258 226 247 260 313 299 332 340 372
152 151 124 170 220 195 207 237 257 257 272 277 306
Operating Profit 27 27 15 23 38 31 40 23 56 42 59 62 66
OPM % 15% 15% 11% 12% 15% 14% 16% 9% 18% 14% 18% 18% 18%
4 3 6 3 3 3 3 5 4 7 6 6 8
Interest 7 6 6 6 6 6 6 6 6 6 7 7 6
Depreciation 11 11 10 11 12 12 12 12 12 13 15 17 17
Profit before tax 13 13 4 9 23 16 25 10 42 30 44 45 50
Tax % 26% 29% 33% 28% 29% 29% 29% 35% 26% 29% 25% 27% 26%
10 9 3 7 17 11 18 7 31 21 33 33 37
EPS in Rs 6.12 6.12 2.03 4.71 10.72 7.58 10.36 1.11 17.92 12.88 20.58 20.28 20.64
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
230 272 335 412 450 453 502 625 652 549 816 1,119 1,343
202 252 303 370 417 425 455 556 572 481 704 952 1,113
Operating Profit 28 20 32 42 33 28 47 69 80 68 113 168 229
OPM % 12% 7% 9% 10% 7% 6% 9% 11% 12% 12% 14% 15% 17%
2 1 3 2 4 5 5 3 6 19 15 20 27
Interest 11 15 16 18 18 17 15 18 33 30 30 31 26
Depreciation 7 9 8 12 11 12 12 13 48 46 45 49 61
Profit before tax 12 -3 11 14 8 4 25 40 5 11 52 108 169
Tax % 39% -1% 18% 37% 47% 48% 28% 38% 139% 34% 29% 28%
7 -3 9 9 4 2 18 25 -2 7 37 77 124
EPS in Rs 6.15 -2.84 8.61 8.74 4.83 1.76 14.27 17.43 -0.46 4.45 25.08 42.75 74.38
Dividend Payout % 45% -32% 16% 21% 29% 78% 16% 13% -398% 31% 12% 5%
Compounded Sales Growth
10 Years: 15%
5 Years: 17%
3 Years: 20%
TTM: 28%
Compounded Profit Growth
10 Years: 36%
5 Years: 27%
3 Years: 348%
TTM: 98%
Stock Price CAGR
10 Years: 42%
5 Years: 40%
3 Years: 97%
1 Year: 130%
Return on Equity
10 Years: 10%
5 Years: 10%
3 Years: 12%
Last Year: 15%

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 9 9 9 9 10 11 11 12 12 12 13 13 13
Reserves 39 34 39 42 72 94 119 179 174 175 240 444 491
99 108 116 122 118 115 138 154 290 250 265 246 253
80 94 118 145 141 136 158 170 177 175 217 453 480
Total Liabilities 227 245 282 318 342 357 426 515 652 612 734 1,156 1,237
67 76 79 74 79 79 84 144 269 246 267 305 353
CWIP 9 1 1 3 3 5 24 7 3 5 2 13 22
Investments 1 1 1 1 1 1 1 1 1 1 2 3 4
150 167 201 241 259 272 317 363 379 359 463 835 858
Total Assets 227 245 282 318 342 357 426 515 652 612 734 1,156 1,237

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
8 8 22 15 6 21 15 8 64 90 42 46
-27 -11 -12 -12 -18 -19 -29 -27 -31 -22 -35 -267
19 4 -6 -3 10 13 15 24 -26 -60 14 227
Net Cash Flow 1 1 4 -0 -2 15 0 5 7 8 21 6

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 32 23 23 22 21 21 24 18 16 27 20 20
Inventory Days 305 274 262 257 244 246 243 243 244 254 216 221
Days Payable 125 115 131 129 103 93 104 86 84 98 82 74
Cash Conversion Cycle 212 182 153 150 162 174 163 175 176 183 155 167
Working Capital Days 85 87 70 79 89 91 87 96 95 115 101 99
ROCE % 17% 7% 14% 16% 12% 9% 14% 17% 8% 8% 16% 18%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
46.87% 46.87% 46.87% 46.87% 46.87% 49.07% 49.25% 50.18% 50.22% 50.22% 50.22% 50.22%
19.61% 20.06% 20.11% 20.17% 20.12% 20.11% 12.60% 12.27% 12.50% 12.34% 11.83% 11.46%
9.26% 8.95% 8.28% 8.16% 8.13% 2.39% 2.13% 2.35% 2.33% 1.97% 1.67% 1.63%
0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 0.09% 0.10% 0.10% 0.13% 0.15% 0.11%
24.27% 24.12% 24.74% 24.80% 24.89% 28.36% 35.91% 35.10% 34.85% 35.34% 36.13% 36.58%
No. of Shareholders 5,0844,8157,2546,9497,1337,31510,24210,84313,91717,85821,11321,672

* 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.

Click on the line-items to see the names of individual entities.

Documents

Concalls