Prag Bosimi Synthetics Ltd

₹ 2.85 3.26%
May 17 - close price
About

Prag Bosimi Synthetics Ltd was incorporated in 1987 by the Government of Assam through Assam Industrial Development Corporation Limited (AIDC) and Mr. H. B. Vyas Group. The company is engaged in the Polyester Yarn business. It is the only Polyester Yarn project in the entire North East India. [1]

Key Points

Revenue (FY21)
Yarn: 11% in FY21 vs 53% in FY20
Packaging: 3% in FY21 vs 11.5% in FY20
Knitted Fabrics: 27% in FY21 vs 17% in FY20
Others: 59% in FY1 vs 18.5% in FY20
As Prag Bosimi could not generate sufficient revenue to meet its expenses, Mr. Vyas provided his personal money in the Prag Bosimi Synthetics Ltd of around Rs. 100 Crores as Unsecured Loan without any interest [1] [2]

  • Market Cap 21.2 Cr.
  • Current Price 2.85
  • High / Low 6.80 / 1.60
  • Stock P/E
  • Book Value 4.24
  • Dividend Yield 0.00 %
  • ROCE -9.59 %
  • ROE -56.5 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.67 times its book value
  • Debtor days have improved from 66.71 to 42.69 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 7.07% over past five years.
  • Company has a low return on equity of -29.41% for last 3 years.
  • Contingent liabilities of Rs.31.16 Cr.
  • Company might be capitalizing the interest cost

* 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 - Manmade

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
7 3 4 5 0 1 0 0 0 0 1 3
8 4 5 7 1 1 1 1 1 1 5 14
Operating Profit -2 -1 -1 -2 -1 -0 -1 -1 -1 -1 -4 -12
OPM % -26% -55% -33% -31% -370% -2% -1,075% -311% -1,450% -477% -762% -427%
0 0 0 1 0 0 1 0 0 0 1 1
Interest 1 1 1 3 1 1 1 2 1 1 1 2
Depreciation 1 1 1 1 1 1 1 1 1 1 2 1
Profit before tax -4 -4 -3 -5 -3 -2 -2 -4 -3 -3 -6 -14
Tax % 0% 0% 0% -16% 0% 0% 0% 0% 0% 0% 0% 0%
Net Profit -4 -4 -3 -5 -3 -2 -2 -4 -3 -3 -6 -14
EPS in Rs -0.52 -0.50 -0.46 -0.74 -0.41 -0.30 -0.34 -0.59 -0.35 -0.35 -0.80 -1.85

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
1 100 2 138 2 23 58 18 2 3
7 101 7 127 8 36 64 24 4 20
Operating Profit -6 -0 -6 11 -6 -13 -6 -6 -3 -17
OPM % -1,114% -0% -357% 8% -245% -54% -10% -34% -174% -492%
11 0 0 1 4 1 1 1 1 2
Interest 14 19 19 13 6 6 2 6 6 6
Depreciation 4 8 12 9 10 4 4 4 4 5
Profit before tax -12 -27 -37 -10 -18 -21 -11 -16 -12 -25
Tax % 0% 0% 0% 0% 0% 0% 0% -5% 0% 0%
Net Profit -12 -27 -37 -10 -18 -21 -11 -16 -12 -25
EPS in Rs -1.63 -3.59 -4.97 -1.40 -2.48 -2.86 -1.52 -2.22 -1.64 -3.35
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 20%
5 Years: 7%
3 Years: -61%
TTM: 110%
Compounded Profit Growth
10 Years: -1%
5 Years: -8%
3 Years: %
TTM: -104%
Stock Price CAGR
10 Years: -8%
5 Years: -13%
3 Years: -2%
1 Year: 73%
Return on Equity
10 Years: %
5 Years: -24%
3 Years: -29%
Last Year: -57%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
156 74 74 74 74 91 93 93 93 93
Reserves -33 22 4 35 22 1 -10 -24 -36 -61
Borrowings 126 142 143 161 165 159 170 171 158 157
95 58 26 14 17 54 47 50 56 51
Total Liabilities 262 295 246 284 279 289 284 274 255 239
225 219 207 198 206 209 206 202 198 177
CWIP 0 1 1 2 6 13 18 19 21 28
Investments 0 0 0 4 26 13 11 11 0 0
37 75 38 81 40 54 48 41 36 34
Total Assets 262 295 246 284 279 289 284 274 255 239

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-14 -4 10 -18 -6 -2 3
-2 -1 -1 2 -6 -0 10
16 9 -8 13 12 3 -14
Net Cash Flow -0 4 2 -2 -0 1 -1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Sep 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 248 153 57 0 171 206 60 77 81 43
Inventory Days 47 3,115 30 2,591 212 83 271 2,248 789
Days Payable 153 295 5 1,641 221 58 95 756 354
Cash Conversion Cycle 248 47 2,877 25 1,121 197 85 253 1,572 478
Working Capital Days 2,379 56 2,076 24 1,030 201 95 238 1,438 539
ROCE % -3% -8% 1% -5% -6% -4% -4% -3% -10%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
48.45 48.46 48.48 48.56 48.56 48.56 48.56 48.56 48.56 48.58 48.56 48.54
0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.13
51.41 51.41 51.39 51.31 51.31 51.31 51.31 51.31 51.31 51.29 51.31 51.33

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