Kwality Ltd

₹ 2.20 -4.35%

23 Feb 2021

About

Kwality Ltd. (Kwality) was incorporated in 1992 as Kwality Dairy (India) Ltd. The company was set up as a backward integration unit of Kwality Ice Creams India Ltd and was acquired by Dhingra Family in 2002. It has a large presence in Northern India. ^[1]

Key Points

Products Customers
It mainly markets and sells its products under the umbrella brand, "Dairy Best". Kwality manufactures various dairy products, which include pure ghee, skimmed milk powder, sterilized flavored milk, etc. ^[1]

Website BSE NSE

Market Cap ₹ 53.1 Cr.
Current Price ₹ 2.20
High / Low ₹ /
Stock P/E
Book Value ₹ -145
Dividend Yield 0.00 %
ROCE %
ROE %
Face Value ₹ 1.00

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Pros

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -53.7% over past five years.
Company's cost of borrowing seems high

* 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: FMCG Industry: Food - Processing - Indian

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Detailed Comparison with:

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	Sep 2021
	351.12	361.98	113.65	47.99	32.12	36.19	34.27	31.33	25.43	29.60	34.07	10.57	18.23
	1,216.55	1,766.88	564.41	101.32	36.48	71.13	36.29	34.37	28.99	374.40	28.39	9.76	18.64
Operating Profit	-865.43	-1,404.90	-450.76	-53.33	-4.36	-34.94	-2.02	-3.04	-3.56	-344.80	5.68	0.81	-0.41
OPM %	-246.48%	-388.12%	-396.62%	-111.13%	-13.57%	-96.55%	-5.89%	-9.70%	-14.00%	-1,164.86%	16.67%	7.66%	-2.25%
	0.72	0.54	0.01	0.06	0.05	0.03	0.52	0.06	0.05	2.42	-2.10	0.03	0.09
Interest	62.19	61.83	6.18	0.00	0.00	0.00	0.00	0.00	0.00	726.85	260.11	0.00	0.00
Depreciation	34.34	34.18	34.09	8.86	8.86	8.54	8.50	7.42	7.39	7.39	3.53	2.80	2.83
Profit before tax	-961.24	-1,500.37	-491.02	-62.13	-13.17	-43.45	-10.00	-10.40	-10.90	-1,076.62	-260.06	-1.96	-3.15
Tax %	1.10%	0.00%	-1.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.04%	-69.16%	0.00%	0.00%
	-950.69	-1,500.38	-497.55	-62.13	-13.17	-43.45	-10.00	-10.40	-10.91	-1,077.10	-439.93	-1.96	-3.15
EPS in Rs	-39.39	-62.17	-20.61	-2.57	-0.55	-1.80	-0.41	-0.43	-0.45	-44.63	-18.23	-0.08	-0.13
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	TTM
	1,048	1,604	2,394	3,692	4,578	5,268	5,658	6,131	6,725	1,328	151	120	92
	996	1,503	2,229	3,478	4,305	4,948	5,309	5,718	6,232	3,895	243	466	431
Operating Profit	52	101	165	214	273	320	349	414	492	-2,567	-93	-346	-339
OPM %	5%	6%	7%	6%	6%	6%	6%	7%	7%	-193%	-62%	-287%	-366%
	0	0	0	-2	4	11	29	13	12	-62	-1	0	0
Interest	21	37	65	93	114	136	151	172	235	190	0	987	987
Depreciation	2	4	8	10	13	25	23	22	126	130	35	26	17
Profit before tax	30	61	93	108	151	170	205	234	144	-2,948	-129	-1,358	-1,342
Tax %	40%	24%	2%	11%	16%	17%	34%	30%	51%	0%	0%	-13%
	18	46	91	97	127	141	135	164	71	-2,948	-129	-1,538	-1,522
EPS in Rs		2.26	4.48	4.75	6.23	6.44	6.01	6.92	2.95	-122.13	-5.33	-63.74	-63.07
Dividend Payout %	10%	4%	2%	2%	2%	2%	2%	1%	3%	0%	0%	0%

Compounded Sales Growth
10 Years:	-23%
5 Years:	-54%
3 Years:	-74%
TTM:	-27%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-1936%

Stock Price CAGR
10 Years:	-24%
5 Years:	-19%
3 Years:	0%
1 Year:	%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021
Equity Capital	18	20	20	20	20	22	22	24	24	24	24	24
Reserves	29	71	159	254	378	567	728	969	1,092	-1,841	-1,969	-3,507
	219	425	667	881	1,072	1,098	1,335	1,508	1,699	1,829	1,829	2,632
	76	43	41	83	111	168	176	245	379	438	428	982
Total Liabilities	342	559	888	1,238	1,582	1,855	2,261	2,745	3,194	451	313	131
	18	42	64	73	99	61	65	431	460	313	276	111
CWIP	0	0	0	9	22	118	194	7	56	7	7	3
Investments	0	0	1	6	6	19	19	19	19	0	0	0
	324	517	822	1,151	1,454	1,657	1,983	2,289	2,658	131	30	17
Total Assets	342	559	888	1,238	1,582	1,855	2,261	2,745	3,194	451	313	131

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021
	-96	-139	-135	-71	19	192	9	238	55	-147	1	-2
	-11	-27	-33	-32	-53	-164	-100	-275	-108	18	-0	0
	107	167	175	119	17	-17	107	83	35	68	0	0
Net Cash Flow	0	-0	7	17	-17	12	15	47	-18	-60	1	-2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021
Debtor Days	91	94	100	92	96	80	92	82	92	16	37	26
Inventory Days	18	16	17	11	15	20	10	21	13	2	16	7
Days Payable	23	5	3	5	4	4	3	6	8	14	204	231
Cash Conversion Cycle	87	105	113	97	106	96	99	96	97	4	-151	-198
Working Capital Days	86	102	112	98	101	95	98	97	102	-97	-979	-2,933
ROCE %	26%	25%	23%	20%	20%	19%	19%	18%	14%	-190%

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
	24.01%	24.01%	24.01%	24.01%	24.01%	24.01%	24.01%	24.01%	24.01%	24.01%	24.01%	24.01%
	0.10%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.09%	0.10%	0.09%	0.09%	0.11%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%
	75.80%	75.88%	75.90%	75.90%	75.87%	75.90%	75.90%	75.90%	75.90%	75.90%	75.90%	75.90%
No. of Shareholders	1,10,387	1,10,572	1,07,296	1,07,864	1,07,273	1,04,969	1,05,788	1,04,975	1,02,951	1,02,715	1,02,701	1,02,671

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Sep 2021
	67.95%	64.10%	63.04%	24.01%	24.01%	24.01%	24.01%
	0.00%	6.33%	5.35%	0.01%	0.00%	0.00%	0.00%
	1.39%	0.35%	0.64%	0.10%	0.08%	0.08%	0.08%
	30.65%	29.22%	30.97%	75.88%	75.90%	75.90%	75.90%
No. of Shareholders	29,117	31,175	54,994	1,10,572	1,04,969	1,02,715	1,02,671

* 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.

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May 2018

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Sep 2016

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