Kiri Industries Ltd

Kiri Industries is engaged in manufacturing and selling of Dyes, Dyes Intermediates and Basic Chemicals.

Pros:
Promoter's stake has increased
Company has a good return on equity (ROE) track record: 3 Years ROE 27.92%
Cons:
Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor growth of 11.01% over past five years.
Tax rate seems low
Company might be capitalizing the interest cost
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Chemicals // Industry: Dyes And Pigments

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
243 226 242 222 227 180 256 240 283 234 305 278
209 199 208 184 189 156 224 198 234 202 271 240
Operating Profit 34 27 33 38 37 24 31 42 49 31 34 38
OPM % 14% 12% 14% 17% 16% 13% 12% 17% 17% 13% 11% 14%
Other Income 0 0 1 0 1 1 1 0 1 0 2 0
Interest 3 2 1 0 0 0 1 1 1 1 1 1
Depreciation 5 5 7 6 6 6 7 6 7 8 8 8
Profit before tax 26 20 27 32 33 19 23 36 41 23 27 29
Tax % 5% 4% 12% 5% 8% 7% -5% 1% 1% 3% 17% 9%
Net Profit 25 19 24 30 30 18 25 35 41 22 22 26
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
133 222 278 341 572 535 525 583 780 889 965 884 1,100
118 192 223 281 463 450 491 522 712 802 837 754 947
Operating Profit 15 30 55 60 110 85 33 61 69 87 128 130 152
OPM % 11% 14% 20% 18% 19% 16% 6% 11% 9% 10% 13% 15% 14%
Other Income 0 5 -23 7 -9 -19 -110 -28 2 8 2 3 2
Interest 5 9 17 21 44 52 75 77 84 67 8 2 5
Depreciation 1 2 3 12 19 30 32 34 20 20 22 25 31
Profit before tax 9 23 12 35 38 -17 -184 -78 -34 7 99 107 119
Tax % 7% 14% 28% 28% 14% -36% 1% 0% -9% -22% 5% 4%
Net Profit 8 20 8 25 33 -24 -183 -77 -37 9 94 103 111
EPS in Rs 5.33 16.35 17.15 0.00 0.00 0.00 0.00 3.41 33.84 33.90
Dividend Payout % 0% 8% 27% 9% 9% -0% -0% -0% -0% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:14.80%
5 Years:11.01%
3 Years:4.26%
TTM:21.83%
Compounded Profit Growth
10 Years:18.29%
5 Years:%
3 Years:%
TTM:3.37%
Return on Equity
10 Years:6.33%
5 Years:11.71%
3 Years:27.92%
Last Year:27.79%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
10 11 15 15 19 19 19 19 27 31 28 30 31
Reserves 24 53 108 130 384 360 174 95 88 130 239 441 599
Borrowings 60 87 160 330 410 542 718 769 771 411 175 172 149
15 45 70 141 137 175 156 163 287 212 335 223 284
Total Liabilities 109 196 353 616 950 1,096 1,067 1,045 1,169 780 777 866 1,064
37 52 85 178 270 295 265 263 307 277 305 349 429
CWIP 0 3 54 0 17 95 109 109 89 3 36 32 38
Investments 0 4 17 118 143 166 167 170 172 174 168 168 140
72 137 197 320 520 539 527 503 602 326 267 317 457
Total Assets 109 196 353 616 950 1,096 1,067 1,045 1,169 780 777 866 1,064

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-5 -5 17 7 -55 108 68 157 -90 204 202 61
-20 -26 -102 -150 -151 -154 -14 -35 -44 -40 -86 -69
24 39 83 147 210 39 -54 -119 128 -163 -114 9
Net Cash Flow -0 8 -2 4 4 -7 -0 3 -6 1 2 2

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 19% 26% 26% 14% 15% 7% 0% 3% 6% 10% 21% 20%
Debtor Days 89 81 70 71 135 182 205 200 206 89 53 72
Inventory Turnover 5.52 5.67 4.30 3.02 3.78 3.38 3.41 4.86 10.77 17.04 21.26 18.21