Prabhat Dairy Ltd

Prabhat Dairy Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Prabhat Dairy Ltd

₹ 99.6 -0.10%
22 Apr 2021
prabhatdairy.in BSE: 539351
About

Prabhat Dairy Limited provides animal feed solutions and sells its products under the Annapurna brand. [1] It sold its flagship dairy business and is now focussing on compound cattle feed and supplies formulated Total Mix Ration (TMR) products and services to dairy farmers. [1]

Key Points

Sale of Dairy Business (96% of Revenue)
The company vides agreement dated January 21, 2019, has signed a definitive agreement to sell its dairy business along with its subsidiary Company to Tirumala Milk Products Private Limited, a wholly-owned subsidiary of the French dairy multinational, Groupe Lactalis, for a total consideration of Rs. 1700 Cr.. [1]

The transaction has two parts, wherein SAIPL would be sold to TMPPL for Rs. 1,227 Cr. The additional Rs. 473 Cr agreed in the transaction would come from the slump sale of PDL’s dairy business on a going concern to SAIPL. [2]

Website BSE
  • Market Cap ₹ 973 Cr.
  • Current Price ₹ 99.6
  • High / Low ₹ /
  • Stock P/E
  • Book Value ₹ 48.2
  • Dividend Yield 0.00 %
  • ROCE -21.7 %
  • ROE -23.3 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 434 to 68.6 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -10.9% over past five years.
  • Company has a low return on equity of -5.74% 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.

Peer comparison

Sector: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
360.48 5.55 5.76 15.46 13.65 36.83 57.81 54.56 192.47 186.75 82.34 87.76 92.36
347.61 5.37 5.46 14.55 13.73 45.66 57.72 56.93 193.58 325.28 80.19 85.79 91.25
Operating Profit 12.87 0.18 0.30 0.91 -0.08 -8.83 0.09 -2.37 -1.11 -138.53 2.15 1.97 1.11
OPM % 3.57% 3.24% 5.21% 5.89% -0.59% -23.98% 0.16% -4.34% -0.58% -74.18% 2.61% 2.24% 1.20%
2.86 8.16 7.68 3.45 6.59 0.00 7.10 9.32 8.61 5.19 6.50 6.62 6.53
Interest 3.99 0.00 0.00 0.00 0.00 0.00 0.30 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 4.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 0.06 0.06 0.07 0.08
Profit before tax 6.95 8.34 7.98 4.36 6.51 -8.83 6.89 6.95 7.37 -133.40 8.59 8.52 7.56
Tax % 12.95% 0.72% 0.25% 1.61% 0.46% -3.85% 30.48% 41.73% 39.35% -0.01% 25.03% 25.00% 25.00%
6.04 8.28 7.96 4.30 6.48 -9.17 4.79 4.05 4.47 -133.42 6.44 6.39 5.67
EPS in Rs 0.62 0.85 0.81 0.44 0.66 -0.94 0.49 0.41 0.46 -13.66 0.66 0.65 0.58
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
153 287 466 561 780 874 1,000 1,131 27 72 492 449
145 265 445 540 746 833 954 1,087 26 69 634 583
Operating Profit 8 21 20 21 34 42 46 44 1 3 -142 -133
OPM % 5% 7% 4% 4% 4% 5% 5% 4% 5% 4% -29% -30%
0 0 0 0 0 1 18 17 18 5 30 25
Interest 2 6 10 10 14 19 18 15 0 0 0 0
Depreciation 1 4 6 7 16 17 15 16 0 0 0 0
Profit before tax 5 12 5 5 4 7 30 30 19 8 -112 -109
Tax % 27% 21% 33% 34% 37% 46% 11% 9% 2% 13% -7%
4 9 3 3 3 4 27 27 19 7 -120 -115
EPS in Rs 708.00 31.74 0.10 1.00 0.85 0.50 2.76 2.79 1.93 0.68 -12.30 -11.77
Dividend Payout % 0% 0% 0% 0% 0% 198% 14% 14% 0% 0% 0%
Compounded Sales Growth
10 Years: 12%
5 Years: -11%
3 Years: -24%
TTM: 31%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -2876%
Stock Price CAGR
10 Years: %
5 Years: 5%
3 Years: 0%
1 Year: %
Return on Equity
10 Years: -1%
5 Years: -2%
3 Years: -6%
Last Year: -23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
Equity Capital 0 30 0 3 3 71 98 98 98 98 98 98
Reserves 15 22 53 149 205 164 437 460 474 481 361 374
Preference Capital 0 0 0 14 24 0 0 0 0 0 0
38 53 133 61 108 150 93 166 127 0 0 0
28 57 44 41 81 88 50 109 94 744 1,540 1,606
Total Liabilities 82 162 231 255 397 474 678 833 793 1,323 1,999 2,077
21 49 54 52 136 127 139 130 155 0 2 3
CWIP 4 13 22 0 1 1 2 5 2 0 0 0
Investments 0 0 0 18 0 0 162 174 327 33 33 33
56 100 154 185 260 346 376 524 309 1,290 1,964 2,041
Total Assets 82 162 231 255 397 474 678 833 793 1,323 1,999 2,077

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-0 3 21 25 32 -14 -68 97 65 103 487
-22 -39 -89 -83 -84 14 -156 -79 -63 -106 1
24 35 69 59 51 19 209 53 -60 212 0
Net Cash Flow 1 -1 0 1 -1 18 -14 71 -59 208 488

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
Debtor Days 32 33 24 20 16 32 42 35 1,230 3 69
Inventory Days 29 19 11 11 10 12 13 17 686 1 1
Days Payable 66 57 28 14 20 24 15 14 690 14 59
Cash Conversion Cycle -5 -5 7 17 5 19 40 39 1,227 -10 10
Working Capital Days 40 28 25 19 9 35 114 46 1,300 2,728 -54
ROCE % 22% 10% 7% 6% 7% 10% 7% 3% 1% -22%

Shareholding Pattern

Numbers in percentages

Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021
50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10%
7.91% 7.92% 7.13% 5.31% 4.78% 4.56% 4.55% 4.50% 4.35% 4.29% 4.29% 1.96%
2.53% 5.39% 4.75% 3.64% 3.82% 3.73% 3.45% 3.71% 3.75% 3.32% 2.77% 0.72%
39.46% 36.59% 38.02% 40.95% 41.30% 41.61% 41.90% 41.69% 41.80% 42.29% 42.84% 47.22%
No. of Shareholders 22,24522,02623,41224,05622,80520,10517,90317,16316,84216,26815,97813,344

* 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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