Salona Cotspin Ltd

₹ 225 6.42%
16 Aug 12:49 p.m.
About

Salona Cotspin Ltd is engaged in the manufacturing and selling of Cotton Yarn, Knitted Fabrics and Garments. The company caters to both domestic and international markets.[1]

Key Points

Product Range
The company produces various types of yarns such as ring spin yarns, compact yarns, open end yarns, slub yarns and hank yarns.[1]
It also produces fabrics made of natural fibres, synthetic yarns or filament yarns. It also produces customized fabrics based on customer request.[2]

  • Market Cap 119 Cr.
  • Current Price 225
  • High / Low 372 / 172
  • Stock P/E 5.51
  • Book Value 109
  • Dividend Yield 0.45 %
  • ROCE 13.0 %
  • ROE 17.6 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 22.2% CAGR over last 5 years

Cons

  • Company has a low return on equity of 9.19% for last 3 years.
  • Company might be capitalizing the interest cost
  • Debtor days have increased from 58.5 to 84.9 days.

* 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.

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Quarterly Results

Figures in Rs. Crores

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
30.23 29.10 25.45 37.07 24.94 52.94 70.97 81.27 141.45 164.37 170.60 170.66 155.17
27.26 27.06 23.49 35.51 23.12 50.10 66.15 75.99 133.58 153.32 159.67 163.12 144.68
Operating Profit 2.97 2.04 1.96 1.56 1.82 2.84 4.82 5.28 7.87 11.05 10.93 7.54 10.49
OPM % 9.82% 7.01% 7.70% 4.21% 7.30% 5.36% 6.79% 6.50% 5.56% 6.72% 6.41% 4.42% 6.76%
0.00 0.00 0.01 0.07 0.00 0.00 0.05 0.07 0.01 0.07 0.00 -0.02 0.00
Interest 1.18 1.10 0.85 0.93 0.90 0.65 1.01 1.91 1.47 1.86 1.56 2.49 1.35
Depreciation 0.77 0.77 0.77 0.33 0.69 0.69 0.69 0.59 0.75 0.75 0.75 1.08 1.28
Profit before tax 1.02 0.17 0.35 0.37 0.23 1.50 3.17 2.85 5.66 8.51 8.62 3.95 7.86
Tax % 20.59% 17.65% 20.00% 110.81% 17.39% 16.67% 16.72% 25.61% 16.61% 16.69% 22.62% 66.84% 19.08%
Net Profit 0.81 0.13 0.27 -0.04 0.20 1.25 2.65 2.11 4.72 7.09 6.68 1.30 6.35
EPS in Rs 1.54 0.25 0.51 -0.08 0.38 2.38 5.04 4.01 8.97 13.47 12.69 2.47 12.07

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
55 80 79 86 106 103 100 121 107 133 122 230 661
46 63 76 72 90 93 91 113 97 123 113 215 621
Operating Profit 10 16 2 13 16 10 9 9 9 10 9 15 40
OPM % 18% 20% 3% 16% 15% 9% 9% 7% 9% 8% 7% 6% 6%
0 0 0 0 0 0 0 0 0 0 0 0 0
Interest 3 5 5 4 3 3 3 2 3 4 4 4 7
Depreciation 4 6 5 5 6 4 3 4 4 4 3 3 4
Profit before tax 3 6 -7 4 8 3 3 3 2 2 2 8 29
Tax % 14% 25% 29% 16% 26% 17% 17% -20% 4% 29% 38% 20%
Net Profit 2 4 -5 3 6 2 2 3 2 2 1 6 21
EPS in Rs -9.33 5.91 10.76 4.01 4.31 6.35 4.05 3.10 2.22 11.78 40.70
Dividend Payout % 24% 12% 0% 0% 11% 0% 18% 10% 15% 20% 0% 9%
Compounded Sales Growth
10 Years: 11%
5 Years: 18%
3 Years: 29%
TTM: 91%
Compounded Profit Growth
10 Years: 4%
5 Years: 22%
3 Years: 43%
TTM: 100%
Stock Price CAGR
10 Years: 31%
5 Years: 30%
3 Years: 38%
1 Year: -7%
Return on Equity
10 Years: 9%
5 Years: 9%
3 Years: 9%
Last Year: 18%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
5 5 5 5 5 5 5 5 5 5 5 5 5
Reserves 8 12 7 10 15 17 19 23 25 26 27 33 52
48 59 45 40 33 26 31 35 43 51 40 77 139
9 12 5 6 9 6 9 8 10 8 11 24 32
Total Liabilities 70 88 63 61 63 54 64 71 83 90 83 138 228
37 38 34 29 25 21 18 17 15 26 24 27 43
CWIP 0 0 0 1 0 0 0 0 5 1 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
33 50 30 32 38 33 46 54 63 63 59 112 185
Total Assets 70 88 63 61 63 54 64 71 83 90 83 138 228

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
3 6 18 8 12 10 0 -3 4 6 14 -24
-12 -7 -1 -1 -1 -0 -1 -2 -7 -10 0 -5
10 1 -17 -8 -10 -10 2 3 3 4 -14 29
Net Cash Flow 1 -0 -0 -1 1 -1 2 -2 -0 0 0 0

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 46 29 25 40 44 31 46 65 65 50 41 85
Inventory Days 198 281 107 124 109 101 148 115 184 146 159 86
Days Payable 40 35 12 11 17 9 22 17 34 16 29 36
Cash Conversion Cycle 205 275 121 153 136 123 172 163 216 181 171 135
Working Capital Days 170 147 79 93 86 86 119 131 165 143 135 132
ROCE % 10% 15% -3% 14% 20% 11% 11% 9% 8% 8% 8% 13%

Shareholding Pattern

Numbers in percentages

Mar 2016 Jun 2016 Dec 2018 Jun 2019 Sep 2019
54.95 56.54 61.42 61.86 62.24
45.05 43.46 38.58 38.14 37.76

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