SEL Manufacturing Company Ltd

₹ 541 -5.00%
21 Nov - close price
About

Incorporated in 1969, Sel Manufacturing Ltd. is in the business of manufacturing, processing and trading of yarn, fabric, ready-made garments and towels.

Key Points

Product Portfolio:[1]
Company is vertically integrated multi-product textile company which manufactures:
a) Knitted Garments
b) Terry Towels
c) Knitted & Processed Fabric
d) various kind of Yarns

  • Market Cap 1,792 Cr.
  • Current Price 541
  • High / Low 1,976 / 14.2
  • Stock P/E
  • Book Value 50.7
  • Dividend Yield 0.00 %
  • ROCE -8.02 %
  • ROE -40.0 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Debtor days have improved from 82.6 to 49.2 days.

Cons

  • Stock is trading at 10.7 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -27.4% over past five years.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 36.1% of their holding.

* 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
63 92 94 11 68 81 32 80 107 117 116 118 66
92 105 94 22 84 106 120 87 113 114 112 138 82
Operating Profit -29 -13 0 -11 -17 -25 -89 -7 -6 3 3 -20 -17
OPM % -46% -14% 0% -105% -25% -31% -280% -9% -5% 3% 3% -17% -26%
-373 -0 -32 0 35 12 2,711 1 2 1 6 7 24
Interest -0 0 0 0 0 0 1 7 7 7 8 11 10
Depreciation 35 37 36 36 37 36 -1 28 26 26 25 27 25
Profit before tax -437 -50 -68 -47 -18 -49 2,622 -42 -37 -28 -24 -51 -28
Tax % -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0%
Net Profit -437 -50 -68 -47 -18 -49 2,622 -42 -37 -28 -24 -51 -28
EPS in Rs -13.19 -1.52 -2.05 -1.42 -0.56 -1.49 791.38 -12.54 -11.24 -8.54 -7.30 -15.35 -8.40
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,701 2,218 3,774 3,628 2,860 2,462 2,081 1,261 603 347 189 420 417
1,408 1,934 3,253 3,268 2,532 2,194 2,741 1,550 665 423 331 426 447
Operating Profit 292 283 521 360 328 268 -660 -289 -62 -76 -142 -6 -30
OPM % 17% 13% 14% 10% 11% 11% -32% -23% -10% -22% -75% -1% -7%
23 109 199 -125 154 132 99 -1,565 -157 -363 2,758 10 38
Interest 88 185 346 432 342 496 147 11 7 3 2 30 36
Depreciation 61 82 163 267 367 374 158 149 146 145 107 106 103
Profit before tax 166 126 210 -464 -227 -471 -865 -2,013 -372 -587 2,507 -131 -131
Tax % 32% 35% 35% 37% 34% 21% 34% -26% -0% -0% -0% -0%
Net Profit 113 82 137 -294 -149 -370 -573 -2,528 -372 -587 2,507 -131 -131
EPS in Rs 11.32 7.44 4.16 -8.88 -4.51 -11.17 -17.28 -76.28 -11.24 -17.73 756.69 -39.62 -39.59
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: -15%
5 Years: -27%
3 Years: -11%
TTM: 39%
Compounded Profit Growth
10 Years: %
5 Years: 12%
3 Years: -2%
TTM: 37%
Stock Price CAGR
10 Years: 61%
5 Years: 191%
3 Years: 744%
1 Year: 3907%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: -40%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
99 111 331 331 401 331 331 370 373 377 33 33 33
Reserves 915 983 1,135 871 691 315 -212 -2,718 -3,094 -3,692 383 231 135
1,798 3,189 4,255 4,793 5,502 5,828 5,658 5,650 5,623 5,600 959 1,017 1,029
321 417 410 592 532 575 628 471 469 528 117 105 91
Total Liabilities 3,133 4,700 6,132 6,587 7,057 7,049 6,405 3,734 3,330 2,768 1,492 1,385 1,288
970 1,520 3,091 3,066 2,925 2,573 2,487 2,309 2,155 2,010 1,281 1,176 1,124
CWIP 291 771 232 481 574 595 553 559 559 432 42 42 42
Investments 55 72 71 97 43 42 42 42 43 42 2 1 1
1,817 2,336 2,738 2,944 3,515 3,839 3,323 823 573 284 167 165 120
Total Assets 3,133 4,700 6,132 6,587 7,057 7,049 6,405 3,734 3,330 2,768 1,492 1,385 1,288

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-97 -26 206 706 -492 240 517 385 534 600 -1,226 36
-960 -1,237 -970 -629 -63 -19 -12 62 -9 6 994 3
1,104 1,243 810 -192 633 -264 -547 -456 -523 -609 237 -43
Net Cash Flow 47 -20 46 -114 77 -44 -41 -8 1 -3 4 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 98 119 71 109 134 170 202 61 36 78 121 49
Inventory Days 204 173 157 127 275 385 174 40 152 193 738 145
Days Payable 57 49 7 34 51 51 32 40 251 551 420 97
Cash Conversion Cycle 245 243 222 202 358 504 343 62 -64 -280 439 97
Working Capital Days 192 202 167 121 278 348 220 -251 -967 -2,649 37 30
ROCE % 12% 9% 11% 4% 2% 1% -12% -8% -4% -5% -13% -8%

Shareholding Pattern

Numbers in percentages

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
18.55 18.55 18.55 18.55 18.55 75.27 75.27 75.27 75.27 75.16 75.16 75.16
14.97 14.97 14.97 14.97 14.97 0.13 0.13 0.13 0.13 0.13 0.13 0.13
0.07 0.00 0.00 0.00 0.00 24.03 24.03 24.03 23.56 23.53 23.53 23.53
66.41 66.47 66.47 66.48 66.48 0.57 0.57 0.57 1.04 1.18 1.18 1.18

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