Ponni Sugars (Erode) Ltd

Ponni Sugars (Erode) Ltd

₹ 419 -0.59%
04 Mar 4:01 p.m.
About

Incorporated in 1986, Ponni Sugars (Erode)
Ltd manufactures sugar and co-generates
power[1]

Key Points

Business Overview:[1][2]
PSEL is a part of Seshasayee Paper & Boards. It has an ISO 9001:2015 certification for Quality Management system and ISO 14001 :2015 certification for Environmental Management system. Company manufactures Sugar in Tamil Nadu. Its operations are partially integrated with a 19 MW co -generation plant. Company also derives income from sale of bagasse (to paper manufacturing companies) and molasses (to animal feed companies). They donot have a distillery unit to produce ethanol.

  • Market Cap 360 Cr.
  • Current Price 419
  • High / Low 515 / 361
  • Stock P/E 8.99
  • Book Value 692
  • Dividend Yield 1.57 %
  • ROCE 11.7 %
  • ROE 9.34 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 0.62 times its book value
  • Debtor days have improved from 44.9 to 18.9 days.
  • Company's working capital requirements have reduced from 78.2 days to 54.0 days

Cons

  • Company has a low return on equity of 8.93% over last 3 years.
  • Earnings include an other income of Rs.15.2 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: Sugar Industry: Sugar

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Quarterly Results

Figures in Rs. Crores

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
55 62 65 90 64 69 84 150 102 99 98 128 124
53 51 59 76 64 55 84 130 93 89 98 110 110
Operating Profit 2 12 6 14 0 15 1 19 9 11 0 18 15
OPM % 3% 18% 10% 16% 1% 21% 1% 13% 9% 11% 0% 14% 12%
1 1 1 3 2 1 4 8 1 2 10 2 2
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 2 3 2 2 2 2 2 2 2 2 2 2 2
Profit before tax 1 10 5 15 1 14 2 26 9 10 8 18 15
Tax % 4% 20% 12% 15% 58% 22% 13% 16% 15% 34% 13% 16% 21%
1 8 5 13 0 11 2 22 8 7 7 15 12
EPS in Rs 0.74 9.20 5.31 15.13 0.47 13.11 2.51 25.27 8.86 7.94 7.75 17.43 13.55
Raw PDF

Profit & Loss

Figures in Rs. Crores

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
269 212 169 160 169 251 196 185 310 256 288 435 449
237 186 170 165 168 213 175 165 269 226 253 395 406
Operating Profit 32 27 -1 -5 2 38 21 20 41 30 36 40 44
OPM % 12% 13% -1% -3% 1% 15% 11% 11% 13% 12% 12% 9% 10%
-1 0 8 11 12 -6 -9 2 5 6 7 15 15
Interest 1 4 7 5 6 5 2 3 3 1 0 0 0
Depreciation 3 12 3 6 6 6 6 6 7 7 6 8 8
Profit before tax 26 12 -3 -5 3 22 4 12 36 29 36 48 51
Tax % 32% -57% -70% 33% 27% 28% 12% 30% 14% 10% 19% 19%
18 19 -5 -4 2 16 3 8 31 26 29 38 40
EPS in Rs 20.69 22.23 -5.56 -4.24 2.21 18.52 3.88 9.80 35.98 29.84 34.02 44.59 46.67
Dividend Payout % 12% 7% -11% 0% 54% 14% 26% 20% 11% 17% 16% 15%
Compounded Sales Growth
10 Years: 7%
5 Years: 17%
3 Years: 12%
TTM: 11%
Compounded Profit Growth
10 Years: 6%
5 Years: 23%
3 Years: 8%
TTM: -6%
Stock Price CAGR
10 Years: 16%
5 Years: 25%
3 Years: 38%
1 Year: -2%
Return on Equity
10 Years: 6%
5 Years: 8%
3 Years: 9%
Last Year: 9%

Balance Sheet

Figures in Rs. Crores

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 9 9 9 9 9 9 9 9 9 9 9 9 9
Reserves 103 121 115 112 113 248 264 284 239 318 360 444 586
50 82 83 78 77 49 7 35 20 0 0 0 0
66 52 45 51 50 32 48 63 48 50 50 62 76
Total Liabilities 228 263 252 249 249 338 328 391 315 376 419 515 671
44 133 133 128 123 118 120 114 109 104 112 118 118
CWIP 84 0 1 0 0 0 0 0 0 0 4 1 7
Investments 21 21 21 21 21 141 156 169 95 151 170 225 367
78 109 97 100 105 79 53 108 111 120 133 170 179
Total Assets 228 263 252 249 249 338 328 391 315 376 419 515 671

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
54 -9 9 11 6 35 51 -22 16 29 11 11
-85 -14 -3 -0 0 -0 -5 2 1 3 -13 1
30 24 -7 -11 -6 -34 -46 23 -19 -24 -4 -5
Net Cash Flow -1 1 -1 -0 0 1 -1 3 -3 7 -6 7

Ratios

Figures in Rs. Crores

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 16 29 25 34 61 35 34 75 82 58 57 19
Inventory Days 92 198 225 226 177 113 93 243 69 111 143 106
Days Payable 62 74 79 99 85 34 109 138 51 76 66 48
Cash Conversion Cycle 46 153 171 162 153 114 18 180 100 93 135 77
Working Capital Days 24 90 108 106 92 60 8 98 80 77 104 54
ROCE % 21% 9% -1% -5% -1% 13% 6% 6% 13% 10% 10% 12%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
42.36% 42.36% 42.36% 42.65% 42.36% 42.36% 42.36% 42.36% 42.36% 42.36% 42.36% 42.36%
21.17% 21.17% 21.17% 18.82% 19.43% 19.58% 23.21% 23.28% 23.31% 23.27% 22.91% 22.85%
3.54% 3.54% 3.54% 3.56% 3.53% 3.53% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
32.93% 32.93% 32.93% 34.97% 34.67% 34.52% 34.39% 34.31% 34.28% 34.32% 34.70% 34.74%
No. of Shareholders 7,8738,65310,38910,40614,91315,57715,22715,22814,67316,66017,43417,335

* 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.

Click on the line-items to see the names of individual entities.

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