Oricon Enterprises Ltd

₹ 42.8 0.00%

24 Apr - close price

oriconenterprises.com BSE: 513121 NSE : ORICONENT

About

Oricon Enterprises Ltd is engaged in the business of manufacturing petrochemical products, trading, liquid colorants and real estate, preform, metal and plastic closures.^[1]

It is a part of Parijat Group which also has presence across pharma, medical devices, and moulded pulp packaging sectors primarily in India.^[2]^[3]^[4]

Key Points

Packaging Business (~52% of revenues)^[1]
The company is a leading manufacturer of intermediate skirt twist-off and pry off crowns under the brand name 'Hycrowns' for the beverage and beer industry, roll on pilfer proof caps (ROPP) for pharma and liquor industries. It also provides plastic closures for carbonated soft drinks, juices and bottled water under the brand 'Bevseal'.
Its clients include Coca Cola, Pepsi, Bisleri, Diageo, Heineken, United Breweries, etc.^[2]

Website BSE NSE

Market Cap ₹ 671 Cr.
Current Price ₹ 42.8
High / Low ₹ 49.3 / 19.4
Stock P/E 101
Book Value ₹ 62.5
Dividend Yield 1.17 %
ROCE 2.91 %
ROE 1.70 %
Face Value ₹ 2.00

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Pros

Stock is trading at 0.68 times its book value
Company has been maintaining a healthy dividend payout of 46.6%
Debtor days have improved from 93.8 to 73.9 days.
Company's working capital requirements have reduced from 158 days to 121 days

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 1.08% over past five years.
Company has a low return on equity of 1.05% over last 3 years.
Earnings include an other income of Rs.14.4 Cr.

* 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: Packaging Industry: Packaging

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	90.63	138.21	119.46	106.93	131.77	145.86	184.37	114.14	98.92	155.41	139.16	87.87	72.18
	86.73	120.23	108.80	102.58	119.19	133.27	160.76	103.95	95.63	139.75	122.95	80.68	68.33
Operating Profit	3.90	17.98	10.66	4.35	12.58	12.59	23.61	10.19	3.29	15.66	16.21	7.19	3.85
OPM %	4.30%	13.01%	8.92%	4.07%	9.55%	8.63%	12.81%	8.93%	3.33%	10.08%	11.65%	8.18%	5.33%
	5.85	3.03	135.37	23.43	4.47	4.63	4.17	4.31	1.77	1.75	3.59	6.53	2.52
Interest	2.89	3.68	3.14	3.09	2.86	2.86	2.37	2.07	2.95	3.51	3.32	3.63	3.97
Depreciation	7.70	7.38	8.40	8.02	8.06	7.06	7.24	7.05	6.94	8.45	8.22	8.16	9.56
Profit before tax	-0.84	9.95	134.49	16.67	6.13	7.30	18.17	5.38	-4.83	5.45	8.26	1.93	-7.16
Tax %	115.48%	33.17%	1.81%	14.40%	18.11%	24.11%	18.05%	41.08%	17.81%	17.98%	23.12%	8.81%	36.87%
	0.13	6.64	132.05	14.27	5.02	5.54	14.89	3.16	-3.97	4.47	6.35	1.76	-4.52
EPS in Rs	0.01	0.42	8.41	0.91	0.32	0.35	0.95	0.20	-0.25	0.28	0.40	0.11	-0.29
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	50	62	71	65	58	38	541	631	579	378	504	571	455
	51	63	71	68	61	47	529	575	524	352	464	517	412
Operating Profit	-1	-1	-0	-3	-4	-9	12	56	55	25	40	53	43
OPM %	-1%	-2%	-0%	-5%	-7%	-23%	2%	9%	9%	7%	8%	9%	9%
	24	23	18	19	31	25	46	25	34	28	168	12	14
Interest	6	5	4	5	10	5	12	11	12	13	12	11	14
Depreciation	2	2	2	2	1	1	28	28	38	31	32	30	34
Profit before tax	16	16	12	8	17	11	19	43	39	10	165	24	8
Tax %	27%	19%	29%	21%	4%	26%	17%	25%	13%	6%	5%	24%
	12	13	9	7	16	8	15	32	34	9	157	19	8
EPS in Rs	1.16	1.24	0.84	0.42	1.01	0.51	0.98	2.05	2.17	0.57	9.99	1.18	0.50
Dividend Payout %	38%	0%	53%	104%	50%	90%	51%	24%	37%	88%	10%	42%

Compounded Sales Growth
10 Years:	25%
5 Years:	1%
3 Years:	0%
TTM:	-16%

Compounded Profit Growth
10 Years:	2%
5 Years:	1%
3 Years:	-19%
TTM:	-65%

Stock Price CAGR
10 Years:	7%
5 Years:	11%
3 Years:	29%
1 Year:	115%

Return on Equity
10 Years:	2%
5 Years:	2%
3 Years:	1%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	21	21	21	31	31	31	31	31	31	31	31	31	31
Reserves	438	445	448	445	455	632	648	663	667	724	979	886	950
Preference Capital	11	11	11	0	0	0	0	0	0	0	0	0
	39	33	36	98	102	335	420	341	193	178	128	169	185
	42	45	35	29	16	61	150	184	137	111	121	116	113
Total Liabilities	540	543	539	603	604	1,059	1,249	1,220	1,029	1,045	1,259	1,203	1,280
	15	16	16	14	11	222	393	441	432	422	432	449	466
CWIP	0	0	0	0	0	0	4	0	7	2	5	8	5
Investments	392	392	392	499	500	434	238	222	212	266	378	319	394
	132	136	131	90	93	403	614	557	377	355	444	427	415
Total Assets	540	543	539	603	604	1,059	1,249	1,220	1,029	1,045	1,259	1,203	1,280

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-12	7	2	46	3	-94	56	99	224	40	37	75
	12	10	8	-101	17	-71	23	-6	-32	-11	33	-90
	-0	-17	-10	55	-20	169	-90	-109	-216	20	-76	24
Net Cash Flow	-0	1	-1	0	-0	5	-11	-16	-24	49	-6	10

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	110	119	72	123	137	55	81	131	82	115	93	74
Inventory Days	30	33	31	21	13	3,388	377	171	139	207	132	109
Days Payable	45	72	19	39	26	18	59	43	55	81	61	56
Cash Conversion Cycle	95	80	85	105	124	3,426	398	259	165	241	164	128
Working Capital Days	298	227	189	143	146	2,658	277	195	131	196	155	121
ROCE %	4%	4%	3%	2%	4%	1%	3%	5%	5%	1%	3%	3%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	66.32%	66.28%	66.83%	66.92%	66.92%	66.92%	66.97%	66.97%	66.97%	66.96%	66.96%	66.96%
	5.71%	5.71%	4.19%	3.84%	3.57%	0.01%	0.07%	0.12%	0.02%	0.03%	0.00%	0.01%
	1.60%	1.60%	1.60%	1.59%	1.59%	1.59%	1.59%	1.59%	1.59%	1.59%	1.59%	1.59%
	26.38%	26.42%	27.38%	27.65%	27.92%	31.47%	31.37%	31.32%	31.41%	31.41%	31.44%	31.43%
No. of Shareholders	23,349	22,130	24,638	26,445	26,597	27,221	27,382	28,012	28,124	28,680	31,660	37,618

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	66.22%	65.04%	66.32%	66.32%	66.32%	66.92%	66.97%	66.96%
	6.61%	5.71%	5.84%	5.84%	5.71%	3.84%	0.12%	0.01%
	1.70%	1.74%	1.60%	1.60%	1.59%	1.59%	1.59%	1.59%
	0.00%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	25.47%	27.37%	26.24%	26.25%	26.38%	27.65%	31.32%	31.43%
No. of Shareholders	17,127	25,546	24,203	22,452	24,298	26,445	28,012	37,618

* 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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