Orient Paper & Industries Ltd

Orient Paper & Industries is mainly engaged in the business of manufacturing and selling of paper and other products.(Source : 201903 Annual Report Page No: 97)

Pros:
Company has reduced debt.
Company is virtually debt free.
Stock is trading at 0.51 times its book value
Stock is providing a good dividend yield of 4.17%.
Company has good consistent profit growth of 81.19% over 5 years
Company has been maintaining a healthy dividend payout of 40.66%
Cons:
The company has delivered a poor growth of -14.73% over past five years.
Company has a low return on equity of 5.31% for last 3 years.
Contingent liabilities of Rs.334.69 Cr.

Peer Comparison Sector: Paper // Industry: Paper

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
90 140 134 147 145 166 169 182 136 187 190 198
98 131 124 131 124 136 143 147 111 147 153 161
Operating Profit -8 10 10 16 21 30 26 34 25 40 36 37
OPM % -8% 7% 7% 11% 15% 18% 15% 19% 18% 21% 19% 19%
Other Income 8 4 6 9 2 3 3 3 12 10 8 4
Interest 5 4 4 8 4 4 4 3 2 3 2 2
Depreciation 6 6 6 7 6 7 7 9 8 8 8 8
Profit before tax -10 4 6 10 13 23 18 26 27 40 34 30
Tax % 58% 18% 54% -34% 37% 36% 42% 38% 30% 25% 38% -8%
Net Profit -4 3 3 13 8 15 10 16 19 30 21 32
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
1,293 1,500 1,615 1,980 2,490 1,268 1,575 1,667 1,819 511 661 710
955 1,111 1,312 1,660 2,063 1,275 1,529 1,640 1,719 480 549 572
Operating Profit 337 389 304 319 427 -7 46 27 99 32 112 138
OPM % 26% 26% 19% 16% 17% -1% 3% 2% 5% 6% 17% 19%
Other Income 23 -23 20 16 22 17 39 19 17 47 11 34
Interest 20 21 35 44 42 19 37 44 51 21 15 10
Depreciation 27 35 55 81 88 37 47 44 44 25 28 32
Profit before tax 314 310 234 210 318 -45 1 -42 21 33 80 130
Tax % 35% 35% 32% 32% 33% 29% -190% 32% 2% -16% 38% 22%
Net Profit 204 200 159 143 212 -32 4 -29 21 38 49 102
EPS in Rs 0.73 0.72 0.57 0.51 0.71 0.00 0.07 0.00 0.34 0.63 2.32 4.79
Dividend Payout % 11% 14% 18% 20% 19% -6% 48% -7% 24% 56% 43% 23%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:-7.20%
5 Years:-14.73%
3 Years:-26.91%
TTM:7.36%
Compounded Profit Growth
10 Years:-9.60%
5 Years:81.19%
3 Years:59.26%
TTM:73.05%
Return on Equity
10 Years:8.57%
5 Years:3.90%
3 Years:5.31%
Last Year:8.03%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
26 20 20 20 20 20 20 20 20 21 21 21
Reserves 468 633 756 865 1,098 418 412 379 394 953 997 1,067
Borrowings 172 466 516 489 510 305 337 380 443 186 90 28
246 341 448 578 621 418 516 521 520 678 741 730
Total Liabilities 904 1,459 1,740 1,952 2,250 1,162 1,286 1,300 1,378 1,839 1,849 1,847
334 385 1,116 1,196 1,232 548 518 515 493 1,280 1,354 1,331
CWIP 200 659 57 27 173 6 2 3 19 86 11 18
Investments 9 9 47 66 87 9 9 9 19 238 297 289
362 406 520 663 757 600 757 774 847 235 188 209
Total Assets 904 1,459 1,740 1,952 2,250 1,162 1,286 1,300 1,378 1,839 1,849 1,847

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
274 263 262 237 282 -20 38 36 76 36 126 99
-200 -499 -223 -192 -247 -20 -24 -30 -45 -78 15 1
-64 243 -26 -33 -42 6 -7 -4 1 -7 -146 -100
Net Cash Flow 9 7 13 12 -7 -34 7 2 31 -49 -5 -1

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 57% 43% 22% 19% 24% -2% 5% 0% 9% 2% 8% 11%
Debtor Days 38 34 42 44 51 95 98 79 77 17 20 15
Inventory Turnover 13.50 14.38 12.42 12.59 13.81 7.70 10.64 8.51 8.05 3.40 9.52 10.43