Ponni Sugars (Erode) Ltd
Ponni Sugars (Erode) Limited is a sugar manufacturing company. It is an associate of Seshasayee Paper and Boards Limited. It has a sugar factory at Erode (Tamilnadu) having a capacity to crush 3500 tonnes of sugarcane per day and generate 19 MW of power. [1]
It demerged from Ponni Sugars and Chemicals Ltd in 2001 which was incorporated in 1996. Erode sugar mill was set up with 1250 TCD capacity in 1984 which was expanded to 2500 TCD in 1994 and to 3500 TCD in 2012. It commissioned a 19MW Cogeneration plant in 2012. [2]
- Market Cap ₹ 401 Cr.
- Current Price ₹ 467
- High / Low ₹ 581 / 206
- Stock P/E 9.38
- Book Value ₹ 545
- Dividend Yield 1.18 %
- ROCE 10.4 %
- ROE 8.42 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 0.86 times its book value
- Company is expected to give good quarter
Cons
- Company has a low return on equity of 9.45% over last 3 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.
Quarterly Results
Figures in Rs. Crores
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
270 | 269 | 212 | 169 | 160 | 169 | 251 | 196 | 185 | 310 | 256 | 288 | 405 | |
255 | 237 | 186 | 170 | 165 | 168 | 213 | 175 | 165 | 269 | 226 | 253 | 361 | |
Operating Profit | 15 | 32 | 27 | -1 | -5 | 2 | 38 | 21 | 20 | 41 | 30 | 36 | 45 |
OPM % | 5% | 12% | 13% | -1% | -3% | 1% | 15% | 11% | 11% | 13% | 12% | 12% | 11% |
17 | -1 | 0 | 8 | 11 | 12 | -6 | -9 | 2 | 5 | 6 | 7 | 15 | |
Interest | 1 | 1 | 4 | 7 | 5 | 6 | 5 | 2 | 3 | 3 | 1 | 0 | 0 |
Depreciation | 3 | 3 | 12 | 3 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 6 | 7 |
Profit before tax | 28 | 26 | 12 | -3 | -5 | 3 | 22 | 4 | 12 | 36 | 29 | 36 | 52 |
Tax % | 33% | 32% | -57% | -70% | 33% | 27% | 28% | 12% | 30% | 14% | 10% | 19% | |
Net Profit | 19 | 18 | 19 | -5 | -4 | 2 | 16 | 3 | 8 | 31 | 26 | 29 | 43 |
EPS in Rs | 21.64 | 20.69 | 22.23 | -5.56 | -4.24 | 2.21 | 18.52 | 3.88 | 9.80 | 35.98 | 29.84 | 34.02 | 49.75 |
Dividend Payout % | 9% | 12% | 7% | -11% | 0% | 54% | 14% | 26% | 20% | 11% | 17% | 16% |
Compounded Sales Growth | |
---|---|
10 Years: | 1% |
5 Years: | 3% |
3 Years: | 16% |
TTM: | 44% |
Compounded Profit Growth | |
---|---|
10 Years: | 4% |
5 Years: | 7% |
3 Years: | 46% |
TTM: | 65% |
Stock Price CAGR | |
---|---|
10 Years: | 3% |
5 Years: | 21% |
3 Years: | 42% |
1 Year: | 80% |
Return on Equity | |
---|---|
10 Years: | 6% |
5 Years: | 7% |
3 Years: | 9% |
Last Year: | 8% |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | |
Reserves | 88 | 103 | 121 | 115 | 112 | 113 | 248 | 264 | 284 | 239 | 318 | 360 | 460 |
16 | 50 | 82 | 83 | 78 | 77 | 49 | 7 | 35 | 20 | 0 | 0 | 0 | |
49 | 66 | 52 | 45 | 51 | 50 | 32 | 48 | 63 | 48 | 50 | 50 | 64 | |
Total Liabilities | 161 | 228 | 263 | 252 | 249 | 249 | 338 | 328 | 391 | 315 | 376 | 419 | 533 |
45 | 44 | 133 | 133 | 128 | 123 | 118 | 120 | 114 | 109 | 104 | 112 | 114 | |
CWIP | 4 | 84 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 3 |
Investments | 8 | 21 | 21 | 21 | 21 | 21 | 141 | 156 | 169 | 95 | 151 | 170 | 258 |
104 | 78 | 109 | 97 | 100 | 105 | 79 | 53 | 108 | 111 | 120 | 133 | 157 | |
Total Assets | 161 | 228 | 263 | 252 | 249 | 249 | 338 | 328 | 391 | 315 | 376 | 419 | 533 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
44 | 54 | -9 | 9 | 11 | 6 | 35 | 51 | -22 | 16 | 29 | 11 | |
-22 | -85 | -14 | -3 | -0 | 0 | -0 | -5 | 2 | 1 | 3 | -13 | |
-23 | 30 | 24 | -7 | -11 | -6 | -34 | -46 | 23 | -19 | -24 | -4 | |
Net Cash Flow | -1 | -1 | 1 | -1 | -0 | 0 | 1 | -1 | 3 | -3 | 7 | -6 |
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 | 5 | 16 | 29 | 25 | 34 | 61 | 35 | 34 | 75 | 82 | 58 | 57 |
Inventory Days | 113 | 92 | 198 | 225 | 226 | 177 | 113 | 93 | 243 | 69 | 111 | 143 |
Days Payable | 50 | 62 | 74 | 79 | 99 | 85 | 34 | 109 | 138 | 51 | 76 | 66 |
Cash Conversion Cycle | 68 | 46 | 153 | 171 | 162 | 153 | 114 | 18 | 180 | 100 | 93 | 135 |
Working Capital Days | 48 | 24 | 90 | 108 | 106 | 92 | 60 | 8 | 98 | 80 | 77 | 104 |
ROCE % | 13% | 21% | 9% | -1% | -5% | -1% | 13% | 6% | 6% | 13% | 10% | 10% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Meeting Updates
12h - Reappointment of Managing Director for a further tenure of three years from 01/04/2023.
- Unaudited Financial Results For The Quarter And Nine Months Ended 31St December 2022 12h
- Unaudited Financial Results For The Quarter And Nine Months Ended 31St December 2022 12h
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
6 Jan - Compliance Certificate under Regulation 74 (5) of SEBI (DP) Regulations, 2018, issued by the RTA of the listed entity attached.
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 3 Jan
Annual reports
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
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Financial Year 2010
from bse
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Financial Year 2010
from nse
Business Segments FY22
Sugar (71% of revenue)- Under the sugar business, the Co. manufactures and sells sugar, along with by-products Bagasse (6.5% of revenue) and Molasses (11% of revenue). It has a total crushing capacity of 3500 TCD at its Erode plant. It sells Bagasse to Seshasayee Paper which is a related party. [1] [2]
Sugar recovery rose in FY22 to ~10% vs 9.36% in FY21 vs 9.47% in FY20 while cane crushing has increased from 6.13 Lakh Tons to 6.46 Lakh Tons. [3]