Pioneer Embroideries Ltd

₹ 44.0 0.00%

30 Apr 4:01 p.m.

pelhakoba.com BSE: 514300 NSE : PIONEEREMB

About

Incorporated in 1991, Pioneer Embroideries Ltd is a manufacturer of Special Polyester Filament Yarn (SPFY), Embroidery & Lace Products^[1]

Key Points

Business Overview:^[1]^[2]
PEL manufactures and exports specialized polyester filament yarn, embroidered laces, braided laces, torchon /bobbin laces, raschel laces and embroidered fabrics. It is associated with a retail brand for embroidered clothing brands Hakoba and Slikolite, and has 3 Lac+ designs. Company’s yarns find applications in the non-apparel segment, such as carpets, bath mats, upholstery fabrics, and curtains

Website BSE NSE

Market Cap ₹ 129 Cr.
Current Price ₹ 44.0
High / Low ₹ 67.0 / 34.4
Stock P/E 49.0
Book Value ₹ 51.8
Dividend Yield 0.00 %
ROCE 2.96 %
ROE 1.10 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.85 times its book value

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -2.75%
The company has delivered a poor sales growth of 2.47% over past five years.
Promoter holding is low: 29.6%
Company has a low return on equity of 9.09% over last 3 years.
Company might be capitalizing the interest cost
Promoters have pledged 60.6% of their holding.

* 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 - Products

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	69.24	79.42	65.92	76.36	75.53	74.35	85.92	70.34	65.97	74.41	73.72	82.51	85.32
	58.42	69.53	59.43	68.70	69.09	70.13	83.59	68.05	63.43	69.37	69.55	77.73	79.30
Operating Profit	10.82	9.89	6.49	7.66	6.44	4.22	2.33	2.29	2.54	5.04	4.17	4.78	6.02
OPM %	15.63%	12.45%	9.85%	10.03%	8.53%	5.68%	2.71%	3.26%	3.85%	6.77%	5.66%	5.79%	7.06%
	0.29	1.17	0.39	0.17	0.47	0.69	0.71	10.66	0.52	0.35	0.34	0.77	0.57
Interest	1.08	0.97	0.67	0.65	0.75	1.13	0.85	1.09	0.71	0.99	0.97	2.16	3.20
Depreciation	2.01	2.06	2.04	2.03	2.07	1.94	2.10	2.12	2.10	2.14	2.17	3.10	3.31
Profit before tax	8.02	8.03	4.17	5.15	4.09	1.84	0.09	9.74	0.25	2.26	1.37	0.29	0.08
Tax %	0.00%	-35.62%	26.86%	27.38%	26.16%	32.07%	22.22%	26.39%	28.00%	42.48%	23.36%	17.24%	25.00%
	8.01	10.89	3.05	3.73	3.02	1.25	0.06	7.18	0.18	1.29	1.05	0.24	0.06
EPS in Rs	3.06	4.10	1.15	1.40	1.14	0.47	0.02	2.70	0.07	0.49	0.39	0.09	0.02
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	207	240	273	272	255	236	263	274	238	226	292	297	316
	210	226	254	246	234	219	253	254	218	198	267	284	296
Operating Profit	-3	15	19	25	22	17	10	20	19	28	25	12	20
OPM %	-1%	6%	7%	9%	8%	7%	4%	7%	8%	12%	8%	4%	6%
	26	-2	2	6	18	2	2	1	4	2	2	12	2
Interest	15	15	17	12	9	11	9	8	6	4	3	4	7
Depreciation	12	13	11	17	14	8	9	9	9	8	8	8	11
Profit before tax	-4	-15	-7	2	16	0	-6	4	8	17	15	12	4
Tax %	9%	-124%	0%	0%	0%	0%	0%	0%	0%	-17%	28%	29%
	-4	-33	-7	2	16	0	-6	4	8	20	11	9	3
EPS in Rs	-2.88	-18.86	-3.91	1.20	8.87	0.06	-2.43	1.66	3.32	7.40	4.16	3.28	0.99
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	3%	7%	0%

Compounded Sales Growth
10 Years:	2%
5 Years:	2%
3 Years:	8%
TTM:	7%

Compounded Profit Growth
10 Years:	7%
5 Years:	17%
3 Years:	-39%
TTM:	35%

Stock Price CAGR
10 Years:	19%
5 Years:	14%
3 Years:	-2%
1 Year:	27%

Return on Equity
10 Years:	7%
5 Years:	8%
3 Years:	9%
Last Year:	1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	13	18	18	18	19	22	24	25	25	27	27	27	27
Reserves	86	49	88	99	73	61	51	57	65	88	99	107	113
Preference Capital	28	27	27	23	17	0	3	0	0	0	0	0
	198	194	132	102	75	64	64	56	35	31	30	95	112
	64	70	72	73	56	44	49	46	37	34	35	56	78
Total Liabilities	361	331	311	293	223	191	187	184	162	179	190	285	330
	110	103	97	83	78	99	96	93	85	80	78	75	166
CWIP	5	6	3	5	3	0	3	2	0	0	8	72	22
Investments	22	27	27	27	53	9	9	9	9	9	10	21	21
	223	195	184	178	89	82	79	79	67	90	94	117	121
Total Assets	361	331	311	293	223	191	187	184	162	179	190	285	330

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	37	47	61	-5	56	25	16	20	26	18	13	10
	-9	-10	-5	6	-45	-20	-7	-4	3	-8	-10	-65
	-29	-35	-57	1	-14	-5	-9	-16	-28	-5	-8	60
Net Cash Flow	-0	2	-0	1	-2	-0	0	-1	1	5	-5	5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	83	70	62	47	35	33	35	37	24	32	27	30
Inventory Days	88	79	60	76	72	108	72	68	94	127	98	101
Days Payable	54	50	38	42	59	81	70	68	60	67	44	53
Cash Conversion Cycle	117	99	84	81	48	60	36	37	58	92	81	77
Working Capital Days	193	117	57	94	20	30	27	23	35	68	72	68
ROCE %	2%	3%	6%	10%	15%	6%	2%	9%	9%	16%	12%	3%

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	32.86%	32.86%	32.86%	32.86%	32.86%	32.86%	32.86%	32.86%	32.39%	32.39%	32.39%	29.64%
	0.00%	0.37%	0.53%	0.35%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.48%
	15.31%	9.41%	9.40%	9.41%	9.40%	9.40%	9.40%	9.40%	9.27%	9.27%	9.27%	8.48%
	51.83%	57.36%	57.21%	57.38%	57.63%	57.71%	57.71%	57.72%	58.32%	58.32%	58.35%	53.39%
No. of Shareholders	24,259	24,960	24,771	25,802	25,608	25,661	25,229	24,909	24,616	24,146	23,685	24,010

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	30.65%	27.30%	26.47%	25.91%	32.86%	32.86%	32.86%	29.64%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.35%	0.00%	8.48%
	4.74%	14.80%	17.17%	17.18%	15.77%	9.41%	9.40%	8.48%
	64.61%	57.90%	56.36%	56.91%	51.37%	57.38%	57.72%	53.39%
No. of Shareholders	24,476	23,320	22,421	21,660	20,850	25,802	24,909	24,010

* 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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Pioneer Embroideries Ltd

Pioneer Embroideries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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