Ruchira Papers Ltd

Ruchira Papers Limited is engaged in the manufacturing of Kraft Paper and Writing & Printing Paper.

Pros:
Stock is trading at 1.19 times its book value
Promoter's stake has increased
Cons:
The company has delivered a poor growth of 8.61% over past five years.

Peer Comparison Sector: Paper // Industry: Paper

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Quarterly Results Figures in Rs. Crores

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
89.68 96.19 103.67 102.42 114.82 118.70 104.02 117.54 107.33 110.92 129.99 124.44
80.69 80.55 87.55 86.16 98.91 96.20 87.97 94.88 94.36 91.29 107.45 105.14
Operating Profit 8.99 15.64 16.12 16.26 15.91 22.50 16.05 22.66 12.97 19.63 22.54 19.30
OPM % 10.02% 16.26% 15.55% 15.88% 13.86% 18.96% 15.43% 19.28% 12.08% 17.70% 17.34% 15.51%
Other Income 0.94 0.11 0.14 0.04 0.71 0.28 1.09 0.82 1.62 0.31 0.44 -0.27
Interest 1.80 2.17 2.33 2.02 1.39 1.81 1.46 2.07 2.38 1.91 2.55 1.67
Depreciation 2.40 2.57 2.61 2.68 2.74 2.84 2.84 2.97 3.32 3.27 3.37 3.31
Profit before tax 5.73 11.01 11.32 11.60 12.49 18.13 12.84 18.44 8.89 14.76 17.06 14.05
Tax % 29.67% 34.33% 33.75% 30.60% 22.34% 34.86% 34.66% 35.52% 33.41% 33.94% 36.23% 33.52%
Net Profit 4.03 7.24 7.50 8.05 9.71 11.81 8.39 11.89 5.92 9.74 10.89 9.34
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
74 83 160 197 252 283 296 319 345 361 417 448 473
65 69 145 178 219 242 245 270 306 314 353 373 398
Operating Profit 9 14 15 19 33 40 51 49 39 47 64 74 74
OPM % 12% 17% 9% 10% 13% 14% 17% 15% 11% 13% 15% 17% 16%
Other Income 1 0 2 1 1 1 2 2 1 1 1 4 2
Interest 2 2 11 17 18 20 17 14 10 7 8 8 9
Depreciation 2 2 7 10 11 11 11 12 10 10 11 12 13
Profit before tax 6 10 -2 -7 6 11 25 25 20 32 46 58 55
Tax % 35% 30% 19% 38% 34% 34% 33% 40% 37% 39% 30% 35%
Net Profit 4 7 -2 -4 4 8 16 15 13 19 32 38 36
EPS in Rs 1.71 3.20 0.00 0.00 1.73 3.38 7.17 6.61 5.46 8.38 14.49 16.96
Dividend Payout % 0% 0% -0% -0% 0% 0% 14% 18% 23% 17% 16% 13%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:18.35%
5 Years:8.61%
3 Years:9.04%
TTM:3.87%
Compounded Profit Growth
10 Years:18.16%
5 Years:18.22%
3 Years:43.44%
TTM:-14.14%
Return on Equity
10 Years:14.90%
5 Years:19.28%
3 Years:21.32%
Last Year:22.08%

Balance Sheet Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
22 22 22 22 22 22 22 22 22 22 22 22 22
Reserves 35 42 40 36 40 48 61 74 83 98 130 169 189
Borrowings 29 107 141 141 132 124 106 93 71 73 61 76 63
15 21 44 50 65 63 63 67 71 74 88 100 100
Total Liabilities 101 193 249 249 259 258 253 256 247 268 301 367 375
26 107 187 180 171 162 156 152 148 173 178 228 227
CWIP 30 51 1 0 0 0 0 0 1 0 3 3 1
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
45 35 60 69 88 96 97 104 98 95 119 136 147
Total Assets 101 193 249 249 259 258 253 256 247 268 301 367 375

Cash Flows Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-8 18 16 18 27 27 43 31 38 40 33 47
-23 -103 -38 -1 -0 -0 -4 -6 -5 -32 -19 -59
41 77 23 -16 -26 -27 -37 -27 -34 -9 -14 11
Net Cash Flow 10 -8 0 -0 0 -0 3 -1 -1 -0 0 -0

Ratios

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 12% 9% 5% 5% 12% 16% 22% 21% 17% 21% 27% 27%
Debtor Days 51 56 42 36 39 45 52 50 36 35 38 39
Inventory Turnover 11.47 8.53 7.98 6.60 6.88 6.85 7.71 8.31 7.92 8.33 8.67 7.24