Orient Bell Ltd

About

Orient Bell is engaged in the business of manufacturing, trading and selling of ceramic and floor tiles.

  • Market Cap 510 Cr.
  • Current Price 354
  • High / Low 432 / 108
  • Stock P/E 39.1
  • Book Value 172
  • Dividend Yield 0.14 %
  • ROCE 5.20 %
  • ROE 2.62 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter

Cons

  • The company has delivered a poor sales growth of -6.02% over past five years.
  • Company has a low return on equity of 3.09% for last 3 years.
  • Dividend payout has been low at 6.08% of profits over last 3 years
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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
147.69 138.06 165.17 120.68 122.81 122.03 126.77 42.73 130.37 147.88 181.50 86.72
135.70 129.00 155.75 114.72 115.95 113.53 122.03 54.53 120.30 132.64 162.59 91.12
Operating Profit 11.99 9.06 9.42 5.96 6.86 8.50 4.74 -11.80 10.07 15.24 18.91 -4.40
OPM % 8.12% 6.56% 5.70% 4.94% 5.59% 6.97% 3.74% -27.62% 7.72% 10.31% 10.42% -5.07%
Other Income 0.93 0.11 0.61 1.10 0.74 1.12 2.29 3.00 0.51 0.48 0.58 0.69
Interest 2.14 2.50 2.16 2.06 1.94 2.58 1.52 1.74 1.53 1.24 1.14 1.16
Depreciation 3.95 4.44 4.31 4.50 4.60 6.25 5.24 5.02 5.12 5.08 5.34 4.65
Profit before tax 6.83 2.23 3.56 0.50 1.06 0.79 0.27 -15.56 3.93 9.40 13.01 -9.52
Tax % 36.60% 31.39% 34.83% 32.00% 33.96% 51.90% -1,903.70% 29.05% 24.68% 24.47% 38.43% 47.16%
Net Profit 4.33 1.53 2.32 0.34 0.70 0.38 5.41 -11.04 2.96 7.10 8.01 -5.03
EPS in Rs 3.04 1.07 1.63 0.24 0.49 0.27 3.79 -7.72 2.06 4.95 5.58 -3.50

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
241 283 529 556 573 675 685 637 655 571 492 502 546
208 258 480 498 525 629 638 581 606 534 466 469 507
Operating Profit 33 25 50 58 47 46 47 57 49 37 26 34 40
OPM % 14% 9% 9% 10% 8% 7% 7% 9% 7% 6% 5% 7% 7%
Other Income 3 8 2 3 1 2 2 1 21 2 5 3 2
Interest 7 9 22 25 24 21 19 13 7 9 8 6 5
Depreciation 11 10 19 19 19 18 17 19 15 17 21 21 20
Profit before tax 18 14 11 17 5 10 13 25 47 14 3 11 17
Tax % 35% 32% -21% 44% 56% 53% 50% 45% 15% 35% -160% 35%
Net Profit 11 10 13 10 2 5 6 14 40 9 7 7 13
EPS in Rs 10.88 9.28 12.79 7.24 1.50 3.46 4.60 9.57 28.14 6.25 4.78 4.89 9.09
Dividend Payout % 18% 22% 12% 21% 33% 14% 11% 5% 2% 8% 0% 10%
Compounded Sales Growth
10 Years:6%
5 Years:-6%
3 Years:-8%
TTM:32%
Compounded Profit Growth
10 Years:1%
5 Years:-1%
3 Years:-37%
TTM:280%
Stock Price CAGR
10 Years:22%
5 Years:14%
3 Years:25%
1 Year:219%
Return on Equity
10 Years:5%
5 Years:6%
3 Years:3%
Last Year:3%

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
11 11 14 14 14 14 14 14 14 14 14 14
Reserves 51 58 156 162 163 168 174 167 208 217 224 233
Borrowings 64 105 188 197 181 166 133 110 77 101 61 40
60 67 133 142 144 136 134 127 133 126 120 148
Total Liabilities 185 241 487 514 502 484 455 418 431 458 419 435
81 79 234 228 234 223 209 201 196 239 233 207
CWIP 0 1 2 18 5 1 1 0 1 1 1 0
Investments 0 20 20 20 20 20 23 23 6 6 6 6
104 141 232 247 243 240 222 193 228 213 180 222
Total Assets 185 241 487 514 502 484 455 418 431 458 419 435

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
21 -0 45 56 54 47 42 51 27 41 64 19
-3 -29 -11 -29 -9 -2 -5 -14 5 -56 -4 5
-18 28 -28 -29 -46 -48 -37 -37 -32 15 -61 -23
Net Cash Flow 0 -1 6 -2 -1 -3 -0 -0 0 -0 0 1

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 48 51 54 48 46 50 56 58 70 74 64 67
Inventory Days 253 215 185 206 185 123 103 90 113 122 125 94
Days Payable 131 148 169 167 164 124 118 86 99 101 119 147
Cash Conversion Cycle 170 117 71 87 67 49 41 63 84 96 71 15
Working Capital Days 73 89 52 57 50 48 45 50 69 76 65 38
ROCE % 20% 11% 12% 12% 8% 9% 10% 13% 12% 7% 3% 5%

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
58.57 59.14 59.21 59.49 60.59 61.66 61.77 63.13 63.52 63.93 63.88 63.78
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.05 0.05
0.12 0.20 0.25 0.11 0.07 0.04 0.04 0.04 0.04 0.04 0.04 0.05
0.27 0.27 0.27 0.27 0.47 0.47 0.47 0.47 0.47 0.73 0.72 0.72
41.04 40.39 40.26 40.12 38.88 37.83 37.72 36.36 35.97 35.30 35.31 35.40

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