Pasupati Acrylon Ltd

₹ 32.5 0.31%
02 Feb 1:35 p.m.
About

Pasupati Acrylon Ltd is a manufacturer of Acrylic Fibre, Tow and Tops and Cast Polypropylene Films. [1]

Key Points

Product Portfolio
Acrylic Fibre, Tow & Tops: The Co supplies Acrylic fibres for end uses such as hosiery (sweaters and cardigans), shawls, blankets, ladies and gents dress material for winter, mufflers, gloves etc. [1]
Cast PolyPropylene (CPP) Films: The co. produces different types of CPPs like Metal CPP, White CPP and Natural CPP. These provide resistance to water as well as oxygen transmission, and act as flexible packaging and lamination substrate. [2][3]

Revenue Split
Acrylic Fibre: 90% in FY21 vs 92% in FY20
Cast PolyPropylene: 10% in FY21 vs 8% in FY20[4]

Geographical Split
Domestic: 83% in FY21 vs 72% in FY20
Exports: 17% in FY21 vs 28% in FY20 [4][5]

  • Market Cap 290 Cr.
  • Current Price 32.5
  • High / Low 50.6 / 29.4
  • Stock P/E 9.43
  • Book Value 33.1
  • Dividend Yield 0.00 %
  • ROCE 25.3 %
  • ROE 17.9 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.97 times its book value
  • Company is expected to give good quarter

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 11.0% over past five years.

* 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: Textiles Industry: Textiles - Manmade

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Quarterly Results

Figures in Rs. Crores

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
149.90 143.32 178.82 61.14 102.35 153.16 188.80 122.57 176.01 204.27 272.69 250.70 207.17
155.83 137.21 176.40 64.95 105.21 128.37 147.13 99.10 157.41 189.19 267.36 235.27 200.17
Operating Profit -5.93 6.11 2.42 -3.81 -2.86 24.79 41.67 23.47 18.60 15.08 5.33 15.43 7.00
OPM % -3.96% 4.26% 1.35% -6.23% -2.79% 16.19% 22.07% 19.15% 10.57% 7.38% 1.95% 6.15% 3.38%
1.65 0.90 1.57 1.05 3.82 2.58 1.33 1.20 2.08 2.33 3.12 1.76 1.24
Interest 1.32 1.29 0.92 0.75 1.10 0.90 1.03 0.68 0.68 0.74 1.07 0.97 0.92
Depreciation 1.68 1.67 1.65 1.55 1.56 1.56 1.59 1.52 1.55 1.55 1.59 1.53 1.55
Profit before tax -7.28 4.05 1.42 -5.06 -1.70 24.91 40.38 22.47 18.45 15.12 5.79 14.69 5.77
Tax % 34.07% 39.01% 33.10% 37.94% -5.29% 33.08% 22.46% 25.95% 25.31% 27.71% 21.59% 25.60% 25.13%
Net Profit -4.80 2.47 0.95 -3.14 -1.79 16.67 31.31 16.64 13.78 10.93 4.54 10.93 4.32
EPS in Rs -0.54 0.28 0.11 -0.35 -0.20 1.87 3.51 1.87 1.55 1.23 0.51 1.23 0.48
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
367 381 404 522 532 529 461 564 825 663 505 775 935
357 396 400 489 503 475 398 509 777 638 445 713 892
Operating Profit 10 -15 4 33 29 54 63 55 48 26 60 62 43
OPM % 3% -4% 1% 6% 5% 10% 14% 10% 6% 4% 12% 8% 5%
1 16 4 1 8 4 3 -2 9 6 9 9 8
Interest 7 10 13 10 8 6 6 5 8 5 4 3 4
Depreciation 3 3 5 13 7 7 7 5 6 7 6 6 6
Profit before tax 0 -12 -10 11 22 44 53 44 43 20 59 62 41
Tax % 0% 30% 30% 32% 33% 33% 35% 36% 37% 36% 26% 26%
Net Profit 0 -9 -7 7 15 30 34 28 27 13 43 46 31
EPS in Rs -0.98 -0.78 0.81 1.63 3.36 3.84 3.14 3.07 1.46 4.83 5.15 3.45
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 7%
5 Years: 11%
3 Years: -2%
TTM: 46%
Compounded Profit Growth
10 Years: 24%
5 Years: 4%
3 Years: 19%
TTM: -61%
Stock Price CAGR
10 Years: 24%
5 Years: 6%
3 Years: 48%
1 Year: -29%
Return on Equity
10 Years: 18%
5 Years: 17%
3 Years: 16%
Last Year: 18%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
71 89 89 89 89 89 89 89 89 89 89 89 89
Reserves -1 3 -12 -12 -6 18 33 60 88 101 144 190 206
76 84 90 68 29 36 30 7 4 11 1 0 0
108 115 109 141 165 105 123 174 187 158 136 146 89
Total Liabilities 254 292 276 286 278 248 275 331 367 359 371 425 384
73 94 105 85 66 54 31 61 85 80 85 81 78
CWIP 29 22 0 0 0 0 32 3 0 0 0 0 0
Investments 0 0 0 0 0 18 33 41 31 0 25 0 46
151 176 171 201 211 176 179 226 252 279 261 345 259
Total Assets 254 292 276 286 278 248 275 331 367 359 371 425 384

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
3 -5 3 45 36 22 41 67 59 -2 14 -13
-20 -19 -1 1 2 -29 -39 -22 -10 29 -32 25
20 29 -2 -42 -32 -4 2 -26 -12 -5 -4 -4
Net Cash Flow 2 4 -1 4 6 -11 5 20 37 22 -21 8

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 14 18 19 23 18 27 25 30 30 19 40 37
Inventory Days 154 131 125 106 117 85 122 102 50 79 116 87
Days Payable 130 121 105 118 127 75 110 123 81 82 115 70
Cash Conversion Cycle 38 28 39 12 8 37 38 9 -2 16 41 54
Working Capital Days 31 20 19 12 3 30 31 5 1 20 36 46
ROCE % 7% -1% 2% 15% 22% 42% 44% 35% 30% 13% 29% 25%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
65.87 65.87 65.87 65.87 65.87 65.87 65.87 65.87 65.87 65.87 65.87 65.87
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.05 0.03 0.04 0.00
0.33 0.32 0.32 0.32 0.32 0.32 0.32 0.21 0.20 0.20 0.21 0.21
33.79 33.80 33.80 33.80 33.80 33.80 33.80 33.92 33.87 33.89 33.87 33.91

* 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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