Seshasayee Paper & Boards Ltd

₹ 198 6.19%
01 Jul - close price
About

Seshasayee Paper & Boards is engaged in engaged in the business of manufacture and sale of printing and writing paper.

SPBL is the flagship company of SPB-ESVIN Group headquarted at Chennai. The company was incorporated in the year 1960, Seshasayee Paper has six decades of experience in the Indian paper industry.

Key Points

Production Capacity [1]
Company has two manufacturing units in the state of Tamil Nadu. During the year 2019, the company had a cumulative production of 209,015 tonnes of paper.

  • Market Cap 1,249 Cr.
  • Current Price 198
  • High / Low 239 / 134
  • Stock P/E 12.1
  • Book Value 191
  • Dividend Yield 1.26 %
  • ROCE 12.1 %
  • ROE 8.89 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 1.04 times its book value
  • Company is expected to give good quarter

Cons

  • The company has delivered a poor sales growth of 4.11% over past five years.
  • Company has a low return on equity of 11.97% for last 3 years.
  • Dividend payout has been low at 14.50% of profits 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: Paper Industry: Paper

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
278 300 285 320 139 150 164 328 218 332 334 471
216 228 218 256 108 122 151 294 187 292 319 392
Operating Profit 62 72 68 65 31 28 14 34 31 40 15 79
OPM % 22% 24% 24% 20% 23% 19% 8% 10% 14% 12% 5% 17%
6 7 6 3 6 7 3 3 4 5 3 4
Interest 3 2 1 1 1 1 1 1 1 1 1 1
Depreciation 9 9 9 8 9 9 9 10 10 10 10 11
Profit before tax 57 68 63 60 28 25 7 27 25 34 8 72
Tax % 31% 31% 31% 26% 35% 34% 35% -129% 26% 26% 26% 25%
Net Profit 39 47 43 44 18 16 5 61 19 25 6 54
EPS in Rs 6.15 7.41 6.90 7.04 2.83 2.60 0.72 9.74 2.94 3.97 0.94 8.50

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
562 601 821 996 998 1,008 1,108 1,105 1,325 1,184 782 1,355
452 502 716 872 908 901 894 897 1,029 917 674 1,189
Operating Profit 110 99 106 124 89 107 214 207 296 267 108 166
OPM % 20% 16% 13% 12% 9% 11% 19% 19% 22% 23% 14% 12%
6 5 4 5 3 4 8 14 23 23 19 17
Interest 22 24 44 39 37 32 23 14 14 7 3 3
Depreciation 34 34 49 49 29 29 31 32 34 35 38 41
Profit before tax 61 45 16 41 25 50 168 175 271 248 86 139
Tax % -7% 24% -25% 35% 32% 29% 24% 30% 30% 30% -16% 26%
Net Profit 65 34 21 27 17 36 128 123 190 173 100 103
EPS in Rs 11.55 6.06 3.64 4.25 2.75 5.64 20.29 19.48 30.11 27.50 15.90 16.35
Dividend Payout % 9% 16% 22% 19% 29% 18% 10% 15% 13% 14% 15% 15%
Compounded Sales Growth
10 Years: 8%
5 Years: 4%
3 Years: 1%
TTM: 73%
Compounded Profit Growth
10 Years: 12%
5 Years: -4%
3 Years: -18%
TTM: 3%
Stock Price CAGR
10 Years: 17%
5 Years: 6%
3 Years: 0%
1 Year: 3%
Return on Equity
10 Years: 14%
5 Years: 15%
3 Years: 12%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
11 11 11 13 13 13 13 13 13 12 12 12
Reserves 272 299 351 372 380 408 569 689 855 986 1,101 1,194
398 220 434 389 328 301 171 149 97 10 8 4
193 279 321 320 379 390 343 406 446 406 354 400
Total Liabilities 874 809 1,117 1,094 1,101 1,112 1,095 1,257 1,410 1,415 1,476 1,610
475 450 712 666 648 625 637 673 672 675 734 815
CWIP 8 6 2 9 13 50 41 27 23 31 32 14
Investments 23 23 23 32 34 38 84 99 95 84 126 143
367 330 379 386 405 399 333 459 620 625 584 638
Total Assets 874 809 1,117 1,094 1,101 1,112 1,095 1,257 1,410 1,415 1,476 1,610

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

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 15 209 66 105 112 200 225 273 165 -7 274
-24 -6 -317 -21 -20 -46 -38 -50 -16 -26 -82 -250
-136 -31 176 -89 -104 -65 -153 -51 -89 -124 -31 -22
Net Cash Flow -63 -22 67 -44 -20 0 9 124 168 15 -119 3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 34 61 44 44 45 47 35 35 22 25 38 27
Inventory Days 108 181 112 103 116 97 115 147 110 187 413 58
Days Payable 178 254 151 162 194 188 168 220 211 215 310 92
Cash Conversion Cycle -37 -12 5 -15 -33 -44 -18 -38 -79 -3 140 -6
Working Capital Days 127 53 3 36 27 24 -1 -13 -17 12 65 6
ROCE % 13% 11% 9% 10% 9% 11% 26% 23% 31% 26% 8% 12%

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
42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.80
1.65 1.68 7.99 7.99 8.92 10.41 10.64 10.82 10.95 10.95 10.96 10.71
3.44 3.46 2.71 2.55 1.75 0.67 0.02 0.03 0.03 0.24 0.24 0.24
14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27
37.99 37.94 32.37 32.53 32.40 32.00 32.41 32.23 32.10 31.89 31.88 31.98

Documents