Pincon Spirit Ltd

Pincon Spirit is specializes in blending, bottling and wholesale distribution different kinds of alcoholic beverages and products such as Indian Made Foreign Liquor, Rum, Whisky, Vodka, Brandy, beer,etc.

Pros:
Stock is trading at 0.16 times its book value
Stock is providing a good dividend yield of 10.03%.
Company is expected to give good quarter
Promoter's stake has increased
Company has good consistent profit growth of 44.38% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 35.25%
Cons:
Promoter holding is low: 33.84%

Peer Comparison Sector: Alcoholic Beverages // Industry: Breweries & Distilleries

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017
148.18 175.12 230.90 229.50 237.41 248.26 309.28 308.90 311.90 489.98 390.62 402.61
140.22 164.96 218.61 216.71 223.39 231.26 288.63 287.65 290.60 459.30 364.38 373.73
Operating Profit 7.96 10.16 12.29 12.79 14.02 17.00 20.65 21.25 21.30 30.68 26.24 28.88
OPM % 5.37% 5.80% 5.32% 5.57% 5.91% 6.85% 6.68% 6.88% 6.83% 6.26% 6.72% 7.17%
Other Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest 1.91 1.97 3.27 3.45 3.94 6.03 6.43 6.43 6.27 6.72 7.54 7.89
Depreciation 0.63 0.26 0.43 0.61 0.53 0.51 0.43 0.43 0.88 1.03 0.96 0.96
Profit before tax 5.42 7.93 8.59 8.73 9.55 10.46 13.79 14.39 14.15 22.93 17.74 20.03
Tax % 33.03% 33.42% 33.99% 33.22% 35.50% 31.17% 33.87% 34.40% 33.99% 34.06% 32.81% 34.75%
Net Profit 3.62 5.28 5.67 5.83 6.16 7.20 9.13 9.44 9.34 15.13 11.92 13.08
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2006 Mar 2007 Mar 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 TTM
0 0 0 56 107 245 318 381 601 941 1,414 1,595
0 0 0 54 102 234 303 362 568 885 1,320 1,488
Operating Profit 0 0 0 2 4 10 15 18 33 56 94 107
OPM % 82% 0% 0% 4% 4% 4% 5% 5% 5% 6% 7% 7%
Other Income -0 0 0 0 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 1 2 7 17 26 28
Depreciation 0 0 0 0 0 0 1 2 2 2 3 4
Profit before tax 0 0 0 2 4 10 13 15 24 37 65 75
Tax % 34% 33% 32% 33% 34% 34% 33% 34%
Net Profit 0 0 0 1 3 7 8 10 16 25 43 49
EPS in Rs 3.89 5.81 9.66
Dividend Payout % 0% 0% 0% 0% 0% 3% 6% 8%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:146.61%
5 Years:42.05%
3 Years:54.89%
TTM:44.50%
Compounded Profit Growth
10 Years:78.65%
5 Years:44.38%
3 Years:62.94%
TTM:54.93%
Return on Equity
10 Years:31.28%
5 Years:34.33%
3 Years:35.25%
Last Year:36.66%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Sep 2017
10 10 10 10 10 10 10 10 10 21 44 48
Reserves 0 0 0 4 4 11 20 30 45 69 100 152
Borrowings 0 0 0 0 0 6 8 63 152 254 297 291
0 0 0 50 3 5 10 14 24 51 88 137
Total Liabilities 10 10 10 65 18 33 48 116 231 395 529 628
0 0 0 0 0 0 17 20 18 18 35 33
CWIP 0 0 0 0 0 2 0 0 0 4 5 8
Investments 10 10 10 0 0 0 0 7 16 16 16 16
0 0 0 65 17 31 31 89 198 358 474 571
Total Assets 10 10 10 65 18 33 48 116 231 395 529 628

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
-0 0 3 -2 16 -40 -76 -70 5
0 -0 0 -4 -16 -13 -6 -25 -33
0 0 -3 6 1 53 82 96 28
Net Cash Flow -0 0 0 0 0 -0 -0 0 0

Ratios Standalone / View Consolidated

Mar 2006 Mar 2007 Mar 2008 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017
ROCE % 0% 0% 18% 29% 49% 42% 24% 20% 20% 23%
Debtor Days 0 639 912 167 28 10 9 24 64 42 47
Inventory Turnover 38.07 35.74 49.65 40.22 25.07 13.21 7.25 7.07