Oricon Enterprises Ltd

Oricon Enterprises Ltd

₹ 42.7 -0.14%
24 Apr 3:41 p.m.
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]

  • Market Cap 670 Cr.
  • Current Price 42.7
  • High / Low 49.3 / 19.4
  • Stock P/E 101
  • Book Value 62.5
  • Dividend Yield 1.24 %
  • ROCE 2.91 %
  • ROE 1.70 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.69 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
Raw PDF

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: 31%
1 Year: 107%
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 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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 23,34922,13024,63826,44526,59727,22127,38228,01228,12428,68031,66037,618

* 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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