Oswal Agro Mills Ltd

Oswal Agro Mills Ltd

₹ 44.7 0.04%
24 Apr 11:17 a.m.
About

Oswal Agro Mills Ltd is engaged in the business of trading/development of real estate, trading of goods etc and also lends its surplus funds as interest bearing inter-corporate deposits. [1]

Key Points

Nature of Business
During FY21, the Co was primarily engaged in trading in commodities. Apart from trading activities, it generated income from interest on inter corporate deposits. [1]

Financial Activities
The company in FY19 and FY20 met the '50-50' test for determining financial activity as a principal business and technically got covered under the definition of NBFC. In this regard, the company had filed an application dated 13.08.2020 with RBI to seek exemption from being treated as NBFC by ensuring that income from non-financial activities is more than 50% of the total income. It is currently under review by the RBI. The Co’s income from non-financial activities for the FY21 has exceeded 50% of the gross income. [2]

Revenues
The Co’s operating revenues consisted of income from trading of commodities amounting to Rs. 29 Cr. during FY21 which was 100% of operating revenues in FY21. During FY20, the income from trading was NIL. [3]

  • Market Cap 600 Cr.
  • Current Price 44.7
  • High / Low 59.0 / 24.0
  • Stock P/E 392
  • Book Value 62.3
  • Dividend Yield 0.00 %
  • ROCE 1.97 %
  • ROE 2.91 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.73 times its book value
  • Debtor days have improved from 112 to 73.8 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 2.76% over last 3 years.
  • Earnings include an other income of Rs.10.8 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: Trading Industry: Trading

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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
5.62 16.03 2.52 0.24 0.00 8.26 0.00 0.00 4.79 23.16 0.42 0.39 0.44
8.01 17.57 4.72 2.66 2.31 10.31 2.74 2.01 7.20 25.46 1.68 2.13 2.44
Operating Profit -2.39 -1.54 -2.20 -2.42 -2.31 -2.05 -2.74 -2.01 -2.41 -2.30 -1.26 -1.74 -2.00
OPM % -42.53% -9.61% -87.30% -1,008.33% -24.82% -50.31% -9.93% -300.00% -446.15% -454.55%
5.73 5.24 3.81 3.22 2.92 2.71 2.93 16.62 3.11 3.30 2.03 2.61 2.84
Interest 0.02 0.02 0.02 0.02 0.02 0.04 0.02 0.02 0.02 0.04 0.03 0.02 0.02
Depreciation 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09
Profit before tax 3.23 3.59 1.50 0.69 0.50 0.53 0.08 14.50 0.59 0.87 0.65 0.76 0.73
Tax % 85.45% 30.64% 26.00% -18.84% 26.00% 24.53% 12.50% 25.38% 15.25% 329.89% 55.38% 1.32% -45.21%
1.99 6.82 4.48 6.34 3.35 4.93 4.08 15.40 6.28 -1.89 4.28 -0.69 -0.17
EPS in Rs 0.15 0.51 0.33 0.47 0.25 0.37 0.30 1.15 0.47 -0.14 0.32 -0.05 -0.01
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
9.49 45.91 11.59 42.43 15.12 15.50 22.37 0.00 14.61 29.27 11.02 27.95 24.41
12.49 28.22 2.95 32.41 20.53 22.33 32.10 9.73 30.56 39.98 19.99 37.39 31.71
Operating Profit -3.00 17.69 8.64 10.02 -5.41 -6.83 -9.73 -9.73 -15.95 -10.71 -8.97 -9.44 -7.30
OPM % -31.61% 38.53% 74.55% 23.62% -35.78% -44.06% -43.50% -109.17% -36.59% -81.40% -33.77% -29.91%
-43.21 -24.76 7.67 8.48 11.95 18.61 19.22 21.67 25.92 22.24 12.66 25.95 10.78
Interest 0.05 0.00 0.07 0.03 0.06 0.10 0.05 0.05 0.09 0.08 0.10 0.11 0.11
Depreciation 0.13 0.13 0.16 0.16 0.17 0.18 0.19 0.21 0.37 0.36 0.36 0.37 0.36
Profit before tax -46.39 -7.20 16.08 18.31 6.31 11.50 9.25 11.68 9.51 11.09 3.23 16.03 3.01
Tax % -0.56% 0.00% 20.77% 12.45% 42.63% 33.48% -32.43% 20.63% 26.81% 51.22% 16.10% 41.55%
-18.50 -6.42 26.33 16.04 16.62 31.10 27.22 26.38 32.39 23.20 19.09 23.88 1.53
EPS in Rs -1.38 -0.48 1.96 1.19 1.24 2.32 2.03 1.97 2.41 1.73 1.42 1.78 0.12
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: -5%
5 Years: 5%
3 Years: 24%
TTM: 87%
Compounded Profit Growth
10 Years: 2%
5 Years: -3%
3 Years: -10%
TTM: -95%
Stock Price CAGR
10 Years: 14%
5 Years: 43%
3 Years: 72%
1 Year: 48%
Return on Equity
10 Years: 3%
5 Years: 3%
3 Years: 3%
Last Year: 3%

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 134.23 134.23 134.23 134.23 134.23 134.23 134.23 134.23 134.23 134.23 134.23 134.23 134.23
Reserves 456.64 450.41 476.94 493.06 523.82 547.36 574.40 599.90 631.75 655.06 674.23 698.68 702.28
25.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.47 0.37 0.32 0.21 0.15
1.24 12.03 1.60 17.00 11.43 6.90 3.90 2.96 21.57 9.44 4.91 5.09 6.11
Total Liabilities 617.11 596.67 612.77 644.29 669.48 688.49 712.53 737.09 788.02 799.10 813.69 838.21 842.77
5.70 7.87 7.72 7.56 4.82 7.18 7.19 7.69 7.77 7.40 7.26 6.90 6.71
CWIP 2.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 313.86 382.37 477.92 379.32 355.70 490.15 514.53 486.23 453.01 451.05 466.21 565.91 570.15
295.47 206.43 127.13 257.41 308.96 191.16 190.81 243.17 327.24 340.65 340.22 265.40 265.91
Total Assets 617.11 596.67 612.77 644.29 669.48 688.49 712.53 737.09 788.02 799.10 813.69 838.21 842.77

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
-103.97 76.75 32.97 -112.55 -111.13 161.03 -32.00 10.77 -27.79 -63.38 6.60 -16.02
10.91 -48.20 -61.43 110.40 100.79 -144.95 22.63 -12.11 59.78 32.05 179.77 -138.12
0.33 0.19 0.19 0.08 5.58 -5.63 -0.07 0.00 -0.01 -0.13 -0.09 -0.14
Net Cash Flow -92.73 28.74 -28.27 -2.06 -4.76 10.44 -9.44 -1.34 31.98 -31.46 186.28 -154.28

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 0.00 194.07 201.87 175.83 365.00 0.00 363.53 430.46 253.64 7.95 73.78
Inventory Days 310.25 297.68 1,574.78 1,535.98 1,064.49 1,653.97 817.56 2,170.93 848.92
Days Payable 158.57 221.47 208.15 0.00 0.00 431.02 33.64 0.00 0.00
Cash Conversion Cycle 0.00 345.75 201.87 252.05 1,731.62 1,535.98 1,428.02 1,653.41 1,037.57 2,178.88 922.70
Working Capital Days 3,472.31 572.27 3,205.95 1,760.74 5,668.85 2,612.93 1,401.26 4,861.92 1,834.60 4,639.34 1,336.33
ROCE % 1.40% 3.17% 2.76% 2.96% 1.51% 1.73% 1.34% 1.63% 1.28% 1.44% 0.42% 1.97%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
41.74% 41.74% 41.74% 41.74% 41.74% 41.89% 41.88% 41.91% 41.91% 41.91% 41.91% 41.91%
1.41% 0.60% 0.60% 0.47% 0.47% 0.47% 0.47% 0.47% 0.33% 0.33% 0.33% 0.33%
56.84% 57.66% 57.66% 57.78% 57.78% 57.64% 57.63% 57.61% 57.75% 57.74% 57.75% 57.74%
No. of Shareholders 1,95,6821,93,4011,94,7661,96,1421,95,1491,93,3321,91,6791,90,6811,89,6231,90,3101,89,6521,89,256

* 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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