Kesar Enterprises Ltd

About

Kesar Enterprises ia deals in the production of Sugar, Spirits & Bagasse based Power.

  • Market Cap 85.8 Cr.
  • Current Price 85.1
  • High / Low 168 / 33.4
  • Stock P/E 1.01
  • Book Value 133
  • Dividend Yield 0.00 %
  • ROCE 32.9 %
  • ROE 97.6 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.64 times its book value
  • Company has delivered good profit growth of 30.06% CAGR over last 5 years
  • Debtor days have improved from 35.44 to 23.26 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Contingent liabilities of Rs.69.26 Cr.
  • Earnings include an other income of Rs.104.14 Cr.

Peer comparison

Sector: Sugar Industry: Sugar

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
43.53 135.83 165.66 137.61 50.43 145.35 184.46 127.70 53.54 160.59 205.63 115.02
53.10 137.12 136.35 124.16 65.90 131.24 153.90 120.53 59.18 161.01 177.59 110.01
Operating Profit -9.57 -1.29 29.31 13.45 -15.47 14.11 30.56 7.17 -5.64 -0.42 28.04 5.01
OPM % -21.98% -0.95% 17.69% 9.77% -30.68% 9.71% 16.57% 5.61% -10.53% -0.26% 13.64% 4.36%
Other Income 0.45 0.65 0.47 0.59 0.61 0.72 0.89 3.33 0.23 0.22 103.14 0.55
Interest 11.23 11.21 11.50 11.31 11.93 12.12 -10.46 6.49 6.57 6.78 7.09 7.12
Depreciation 4.80 4.81 4.77 4.20 4.27 4.79 5.01 4.89 4.94 4.81 4.67 4.41
Profit before tax -25.15 -16.66 13.51 -1.47 -31.06 -2.08 36.90 -0.88 -16.92 -11.79 119.42 -5.97
Tax % -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00%
Net Profit -25.15 -16.66 13.51 -1.47 -31.06 -2.08 36.90 -0.88 -16.92 -11.79 119.42 -5.97
EPS in Rs -24.95 -16.53 13.40 -1.46 -30.81 -2.06 36.61 -0.87 -16.79 -11.70 118.48 -5.92

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Jun 2009 Jun 2010 Jun 2011 Jun 2012 Jun 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
220 201 366 285 337 437 318 373 313 403 518 547 535
189 181 340 271 305 478 300 309 300 381 475 517 508
Operating Profit 31 20 25 14 32 -41 18 64 13 22 43 31 27
OPM % 14% 10% 7% 5% 10% -9% 6% 17% 4% 5% 8% 6% 5%
Other Income 2 7 1 -12 2 2 1 1 1 2 3 105 104
Interest 15 18 20 19 36 57 42 41 43 45 25 27 28
Depreciation 7 6 6 6 15 24 26 19 18 19 18 19 19
Profit before tax 11 4 0 -22 -17 -120 -49 6 -47 -40 2 90 85
Tax % 17% -4% -742% 10% -0% -0% -8% 1% -0% -0% -0% -0%
Net Profit 9 4 4 -20 -17 -120 -53 6 -47 -40 2 90 85
EPS in Rs 13.29 6.46 5.32 -29.40 -19.35 -120.03 -52.80 6.11 -46.35 -39.90 2.27 89.12 84.07
Dividend Payout % 23% 15% 19% -0% -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years:11%
5 Years:11%
3 Years:20%
TTM:5%
Compounded Profit Growth
10 Years:39%
5 Years:30%
3 Years:58%
TTM:2842%
Stock Price CAGR
10 Years:5%
5 Years:10%
3 Years:41%
1 Year:131%
Return on Equity
10 Years:-16%
5 Years:3%
3 Years:23%
Last Year:98%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Jun 2009 Jun 2010 Jun 2011 Jun 2012 Jun 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
9 9 9 8 9 10 10 10 10 10 10 10
Reserves 35 22 25 237 222 94 41 147 93 46 43 124
Borrowings 164 261 207 349 431 338 314 324 342 357 323 208
74 49 43 133 141 141 187 118 155 239 254 286
Total Liabilities 280 340 282 725 802 583 552 599 600 652 631 629
91 60 58 289 486 450 426 485 467 451 463 433
CWIP 4 7 36 189 1 1 0 0 0 14 5 17
Investments 1 1 1 1 1 1 1 20 13 9 2 12
184 272 187 247 315 131 126 93 119 178 162 167
Total Assets 280 340 282 725 802 583 552 599 600 652 631 629

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Jun 2009 Jun 2010 Jun 2011 Jun 2012 Jun 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
42 -71 102 33 -22 138 66 20 18 31 79 63
-19 -5 -32 -157 -26 2 -1 2 -1 -16 -19 -22
-23 79 -75 125 55 -148 -61 -27 -15 -15 -52 -25
Net Cash Flow 0 3 -4 0 7 -7 4 -5 1 -0 8 16

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Jun 2009 Jun 2010 Jun 2011 Jun 2012 Jun 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 18 18 15 19 68 13 40 36 34 49 34 23
Inventory Days 475 739 195 360 341 74 109 34 115 129 84 75
Days Payable 137 105 17 159 160 90 219 114 158 199 161 165
Cash Conversion Cycle 356 652 193 220 248 -3 -70 -43 -9 -21 -43 -67
Working Capital Days 192 402 123 125 172 -13 -75 -24 -42 -54 -64 -92
ROCE % 12% 8% 7% 2% 3% -11% -2% 11% -1% 1% 7% 33%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
69.23 69.23 69.23 69.23 69.53 69.99 70.47 70.47 70.47 70.57 70.57 70.57
5.12 5.12 5.12 5.12 5.12 5.35 5.12 5.12 5.12 4.24 4.05 4.05
25.65 25.65 25.65 25.65 25.35 24.66 24.41 24.41 24.41 25.19 25.39 25.39

Documents