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 ₹ 338 Cr.
- Current Price ₹ 393
- High / Low ₹ 581 / 210
- Stock P/E 8.81
- Book Value ₹ 527
- Dividend Yield 1.66 %
- ROCE 11.7 %
- ROE 9.34 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 0.76 times its book value
- Company is expected to give good quarter
- 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.15.1 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.
Quarterly Results
Figures in Rs. Crores
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
269 | 212 | 169 | 160 | 169 | 251 | 196 | 185 | 310 | 256 | 288 | 435 | |
237 | 186 | 170 | 165 | 168 | 213 | 175 | 165 | 269 | 226 | 253 | 395 | |
Operating Profit | 32 | 27 | -1 | -5 | 2 | 38 | 21 | 20 | 41 | 30 | 36 | 40 |
OPM % | 12% | 13% | -1% | -3% | 1% | 15% | 11% | 11% | 13% | 12% | 12% | 9% |
-1 | 0 | 8 | 11 | 12 | -6 | -9 | 2 | 5 | 6 | 7 | 15 | |
Interest | 1 | 4 | 7 | 5 | 6 | 5 | 2 | 3 | 3 | 1 | 0 | 0 |
Depreciation | 3 | 12 | 3 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 6 | 8 |
Profit before tax | 26 | 12 | -3 | -5 | 3 | 22 | 4 | 12 | 36 | 29 | 36 | 48 |
Tax % | 32% | -57% | -70% | 33% | 27% | 28% | 12% | 30% | 14% | 10% | 19% | 19% |
Net Profit | 18 | 19 | -5 | -4 | 2 | 16 | 3 | 8 | 31 | 26 | 29 | 38 |
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 |
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: | 51% |
Compounded Profit Growth | |
---|---|
10 Years: | 6% |
5 Years: | 23% |
3 Years: | 8% |
TTM: | 31% |
Stock Price CAGR | |
---|---|
10 Years: | 6% |
5 Years: | 25% |
3 Years: | 38% |
1 Year: | 59% |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
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 |
50 | 82 | 83 | 78 | 77 | 49 | 7 | 35 | 20 | -0 | -0 | -0 | |
66 | 52 | 45 | 51 | 50 | 32 | 48 | 63 | 48 | 50 | 50 | 62 | |
Total Liabilities | 228 | 263 | 252 | 249 | 249 | 338 | 328 | 391 | 315 | 376 | 419 | 515 |
44 | 133 | 133 | 128 | 123 | 118 | 120 | 114 | 109 | 104 | 112 | 118 | |
CWIP | 84 | 0 | 1 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 4 | 1 |
Investments | 21 | 21 | 21 | 21 | 21 | 141 | 156 | 169 | 95 | 151 | 170 | 225 |
78 | 109 | 97 | 100 | 105 | 79 | 53 | 108 | 111 | 120 | 133 | 170 | |
Total Assets | 228 | 263 | 252 | 249 | 249 | 338 | 328 | 391 | 315 | 376 | 419 | 515 |
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% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
30 May - Copy of the Advertisement Informing shareholders about the dispatch of Annual Report for FY 2023 & other details regarding ensuing Annual General Meeting.
- Announcement Under Regulation 30 - Intimation To Shareholders For Updation Of KYC Details 27 May
- Notice Of 27Th Annual General Meeting To Be Held On 21St June 2023. 27 May
- Reg. 34 (1) Annual Report. 26 May
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Announcement under Regulation 30 (LODR)-Newspaper Publication
26 May - Notice to shareholders regarding transfer of shares to IEPF published in Newspapers
Annual reports
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Financial Year 2023
from bse
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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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]