KM Sugar Mills Ltd

About

KM Sugar Mills is engaged in sugar manufacturing. The principal activity of the Company is manufacturing and sale of sugar. Besides this, the allied business activities undertaken by the Company primarily consists of manufacturing and sale of Ethanol, Ethyl Alcohol, generation of power using bagasse, and manufacturing and sale of sanitizers.

  • Market Cap 252 Cr.
  • Current Price 27.4
  • High / Low 39.2 / 9.20
  • Stock P/E 8.13
  • Book Value 23.2
  • Dividend Yield 0.73 %
  • ROCE 11.7 %
  • ROE 13.1 %
  • Face Value 2.00

Pros

  • Stock is trading at 1.18 times its book value

Cons

  • The company has delivered a poor sales growth of 7.79% over past five years.
  • Company has a low return on equity of 13.51% for last 3 years.
  • Contingent liabilities of Rs.80.76 Cr.
  • Company might be capitalizing the interest cost

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
54 49 102 101 109 116 210 175 141 124 64 170
49 42 92 90 98 104 194 155 127 113 50 145
Operating Profit 6 7 10 11 11 12 16 20 13 11 13 25
OPM % 10% 14% 10% 11% 10% 10% 8% 11% 9% 9% 21% 15%
Other Income 1 4 7 3 2 4 2 1 2 1 1 1
Interest 1 1 3 6 4 4 3 3 5 1 4 4
Depreciation 3 3 3 4 4 4 4 4 3 4 4 3
Profit before tax 3 6 11 5 5 8 10 14 7 6 7 19
Tax % 32% -24% 32% 42% 34% 39% 27% 34% -2% 34% 15% 25%
Net Profit 2 8 8 3 4 5 7 9 7 4 6 14
EPS in Rs 0.24 0.86 0.82 0.30 0.39 0.51 0.81 1.01 0.72 0.46 0.67 1.52

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
151 178 287 255 273 550 346 336 463 390 531 503 499
123 178 275 237 240 520 316 290 446 352 481 447 436
Operating Profit 28 0 13 17 32 30 30 46 17 38 50 56 63
OPM % 19% 0% 4% 7% 12% 6% 9% 14% 4% 10% 9% 11% 13%
Other Income 4 2 4 2 3 7 6 11 37 14 11 4 5
Interest 12 13 15 14 13 14 17 10 11 8 18 11 14
Depreciation 16 14 12 10 9 14 9 10 13 12 15 15 15
Profit before tax 4 -25 -11 -6 13 9 10 37 29 32 28 34 39
Tax % 0% 26% -4% -11% 1% 17% -17% 0% 35% 24% 34% 23%
Net Profit 4 -18 -11 -6 13 7 12 37 19 24 18 26 31
EPS in Rs 0.46 -1.99 -1.22 -0.68 1.37 0.81 1.27 4.03 2.05 2.64 2.00 2.85 3.37
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:11%
5 Years:8%
3 Years:3%
TTM:-18%
Compounded Profit Growth
10 Years:13%
5 Years:18%
3 Years:12%
TTM:24%
Stock Price CAGR
10 Years:27%
5 Years:4%
3 Years:42%
1 Year:169%
Return on Equity
10 Years:20%
5 Years:20%
3 Years:14%
Last Year:13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
18 18 18 18 18 18 18 18 18 18 18 18
Reserves 15 -4 -15 -21 -8 -1 10 47 66 151 169 195
Borrowings 92 99 100 82 113 146 95 141 99 109 174 201
24 17 22 22 30 163 146 170 130 216 166 210
Total Liabilities 149 131 126 101 153 326 270 376 313 494 527 625
89 77 67 58 51 65 61 95 94 153 160 158
CWIP 0 1 0 0 4 0 0 0 0 7 0 8
Investments 0 0 0 0 0 0 3 8 7 15 27 24
59 53 59 43 98 261 205 273 212 319 339 434
Total Assets 149 131 126 101 153 326 270 376 313 494 527 625

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
30 3 12 36 -13 7 72 5 72 8 -3 7
4 2 -1 -2 -5 -23 -9 -46 -11 -24 -28 -21
-39 -6 -10 -33 18 17 -60 43 -58 10 30 16
Net Cash Flow -5 -1 1 1 -0 1 4 2 2 -6 -1 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 32 3 2 9 12 21 28 18 18 26 14 14
Inventory Days 88 84 61 39 133 160 217 345 151 338 248 362
Days Payable 42 27 12 15 24 104 133 141 102 235 111 177
Cash Conversion Cycle 78 59 51 33 121 77 112 222 67 128 152 200
Working Capital Days 101 75 48 32 91 73 71 115 52 94 122 165
ROCE % 11% -10% 3% 9% 25% 16% 19% 28% 21% 17% 14% 12%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
62.40 63.18 63.23 63.72 63.75 64.69 64.82 64.79 64.79 64.80 64.56 64.56
0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.01 0.02 0.02 0.00 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00
37.57 36.81 36.75 36.28 36.14 35.30 35.18 35.20 35.21 35.20 35.44 35.44

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