Oricon Enterprises Ltd

Oricon Enterprises Ltd

₹ 41.6 -0.83%
23 Feb - close price
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 654 Cr.
  • Current Price 41.6
  • High / Low 49.3 / 15.2
  • Stock P/E 54.6
  • Book Value 72.0
  • Dividend Yield 1.20 %
  • ROCE 1.95 %
  • ROE 1.17 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.58 times its book value
  • Debtor days have improved from 95.9 to 69.9 days.
  • Company's working capital requirements have reduced from 150 days to 118 days

Cons

  • The company has delivered a poor sales growth of -9.88% over past five years.
  • Company has a low return on equity of -0.77% over last 3 years.
  • Earnings include an other income of Rs.33.1 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

Consolidated Figures in Rs. Crores / View Standalone

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
113.18 144.18 119.46 106.93 133.79 145.86 190.40 114.14 124.61 155.69 139.16 89.50 115.65
112.28 131.48 111.50 113.94 122.73 133.92 169.29 106.60 126.00 143.87 124.65 83.46 112.90
Operating Profit 0.90 12.70 7.96 -7.01 11.06 11.94 21.11 7.54 -1.39 11.82 14.51 6.04 2.75
OPM % 0.80% 8.81% 6.66% -6.56% 8.27% 8.19% 11.09% 6.61% -1.12% 7.59% 10.43% 6.75% 2.38%
18.75 0.20 137.47 -4.27 3.42 8.71 5.98 7.86 3.37 3.07 7.40 13.10 9.57
Interest 3.17 3.82 3.37 3.33 3.17 3.34 1.72 0.98 2.24 2.00 2.08 2.32 2.55
Depreciation 7.98 7.65 8.70 8.10 8.41 7.22 7.97 7.77 7.63 9.14 8.67 8.60 10.01
Profit before tax 8.50 1.43 133.36 -22.71 2.90 10.09 17.40 6.65 -7.89 3.75 11.16 8.22 -0.24
Tax % -11.41% 306.29% 3.52% -8.63% 83.79% 8.82% 13.97% 34.14% 12.55% 36.00% 23.03% 14.23% 541.67%
9.47 -2.95 128.66 -24.67 0.47 9.21 14.98 4.37 -6.90 2.41 8.60 7.05 1.06
EPS in Rs 0.37 0.03 8.26 -0.83 0.13 0.57 0.96 0.27 -0.44 0.15 0.55 0.45 0.07
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
973 992 887 1,048 1,165 1,167 1,014 1,119 890 437 504 603 500
871 862 787 956 1,079 1,058 941 1,014 793 420 478 562 465
Operating Profit 102 130 100 92 86 110 73 106 96 16 26 40 35
OPM % 10% 13% 11% 9% 7% 9% 7% 9% 11% 4% 5% 7% 7%
34 25 26 90 47 55 49 37 35 25 142 20 33
Interest 13 16 16 16 28 22 18 18 17 14 13 7 9
Depreciation 27 37 40 38 56 66 72 75 90 33 32 33 36
Profit before tax 96 102 70 129 49 75 32 49 24 -6 123 20 23
Tax % 33% 32% 38% 34% 34% 34% 30% 18% -6% -27% 7% 26%
64 69 43 85 32 50 22 40 26 -7 114 15 19
EPS in Rs 3.76 3.39 2.12 2.75 1.19 2.40 1.14 2.31 1.44 -0.12 8.14 0.95 1.22
Dividend Payout % 12% 13% 21% 16% 42% 0% 44% 22% 56% -401% 12% 53%
Compounded Sales Growth
10 Years: -5%
5 Years: -10%
3 Years: -12%
TTM: -13%
Compounded Profit Growth
10 Years: -10%
5 Years: -6%
3 Years: -16%
TTM: -50%
Stock Price CAGR
10 Years: 8%
5 Years: 10%
3 Years: 23%
1 Year: 105%
Return on Equity
10 Years: 2%
5 Years: 1%
3 Years: -1%
Last Year: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 513 546 565 600 612 865 821 846 834 892 1,120 1,002 1,100
Preference Capital 11 11 11 0 0 0 0 0 0 0 0 0
136 185 198 368 401 675 542 491 267 232 167 89 107
357 383 392 517 486 394 384 418 367 309 215 113 114
Total Liabilities 1,026 1,135 1,175 1,516 1,531 1,966 1,779 1,787 1,500 1,464 1,535 1,234 1,352
485 543 537 726 860 836 752 776 756 716 541 551 567
CWIP 39 2 18 39 33 10 15 14 29 22 20 23 20
Investments 49 74 141 181 195 349 281 329 188 286 505 232 349
453 516 479 571 443 771 732 668 528 440 469 429 416
Total Assets 1,026 1,135 1,175 1,516 1,531 1,966 1,779 1,787 1,500 1,464 1,535 1,234 1,352

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
30 76 90 139 248 -35 102 159 272 83 34 25
-66 -72 -94 -224 -213 -200 59 -86 8 -53 118 74
47 14 -19 78 -38 267 -160 -91 -276 -15 -176 -91
Net Cash Flow 10 18 -23 -7 -3 32 1 -18 4 15 -24 7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 34 51 55 74 57 63 73 95 75 122 96 70
Inventory Days 56 58 63 112 77 277 377 172 142 209 130 108
Days Payable 53 72 75 101 61 59 98 78 103 116 85 55
Cash Conversion Cycle 36 38 43 86 73 280 353 189 114 215 141 122
Working Capital Days 31 38 38 85 17 143 162 118 94 185 148 118
ROCE % 13% 13% 9% 8% 5% 6% 3% 4% 3% 0% 1% 2%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
66.32% 66.32% 66.28% 66.83% 66.92% 66.92% 66.92% 66.97% 66.97% 66.97% 66.96% 66.96%
5.71% 5.71% 5.71% 4.19% 3.84% 3.57% 0.01% 0.07% 0.12% 0.02% 0.03% 0.00%
1.59% 1.60% 1.60% 1.60% 1.59% 1.59% 1.59% 1.59% 1.59% 1.59% 1.59% 1.59%
26.38% 26.38% 26.42% 27.38% 27.65% 27.92% 31.47% 31.37% 31.32% 31.41% 31.41% 31.44%
No. of Shareholders 24,29823,34922,13024,63826,44526,59727,22127,38228,01228,12428,68031,660

* 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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