Seshasayee Paper & Boards Ltd

₹ 296 -0.15%
25 Nov - 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

Products & Brands
SPBL manufactures a variety of papers such as printing and writing (P&W) grade papers (WPP), packing and wrapping grade papers, specialty grade papers, etc. It markets paper products in the domestic market under the brand name Sprint, Sprint Plus, Swift, and Success, which are among the leading brands in Southern India. [1]

  • Market Cap 1,864 Cr.
  • Current Price 296
  • High / Low 349 / 134
  • Stock P/E 8.44
  • Book Value 214
  • Dividend Yield 0.85 %
  • ROCE 12.1 %
  • ROE 8.85 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • 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 12.0% over last 3 years.
  • Dividend payout has been low at 14.5% 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

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
300 285 320 139 150 164 328 218 332 334 471 431 523
228 218 256 108 122 151 294 187 292 319 392 343 383
Operating Profit 72 68 65 31 28 14 34 31 40 15 79 88 140
OPM % 24% 24% 20% 23% 19% 8% 10% 14% 12% 5% 17% 20% 27%
7 6 3 6 7 3 3 4 5 3 4 5 9
Interest 2 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 9 9 8 9 9 9 10 10 10 10 11 12 12
Profit before tax 68 63 60 28 25 7 27 25 34 8 72 80 136
Tax % 31% 31% 26% 35% 34% 35% -129% 26% 26% 26% 25% 26% 25%
Net Profit 47 43 44 18 16 5 61 19 25 6 54 60 102
EPS in Rs 7.41 6.90 7.04 2.83 2.60 0.72 9.74 2.94 3.97 0.94 8.50 9.46 16.11
Raw PDF

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 TTM
562 601 821 996 998 1,008 1,108 1,105 1,325 1,184 782 1,355 1,759
452 502 716 872 908 901 894 897 1,029 917 674 1,189 1,437
Operating Profit 110 99 106 124 89 107 214 207 296 267 108 166 322
OPM % 20% 16% 13% 12% 9% 11% 19% 19% 22% 23% 14% 12% 18%
6 5 4 5 3 4 8 14 23 23 19 17 21
Interest 22 24 44 39 37 32 23 14 14 7 3 3 3
Depreciation 34 34 49 49 29 29 31 32 34 35 38 41 44
Profit before tax 61 45 16 41 25 50 168 175 271 248 86 139 296
Tax % -7% 24% -25% 35% 32% 29% 24% 30% 30% 30% -16% 26%
Net Profit 65 34 21 27 17 36 128 123 190 173 100 103 221
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 35.01
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: 69%
Compounded Profit Growth
10 Years: 12%
5 Years: -4%
3 Years: -18%
TTM: 101%
Stock Price CAGR
10 Years: 18%
5 Years: 12%
3 Years: 21%
1 Year: 82%
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 Sep 2022
11 11 11 13 13 13 13 13 13 12 12 12 12
Reserves 272 299 351 372 380 408 569 689 855 986 1,101 1,205 1,337
398 220 434 389 328 301 171 149 97 10 8 4 4
193 279 321 320 379 390 343 406 446 406 355 388 410
Total Liabilities 874 809 1,117 1,094 1,101 1,112 1,095 1,257 1,410 1,415 1,476 1,610 1,764
475 450 712 666 648 625 637 673 672 675 734 815 800
CWIP 8 6 2 9 13 50 41 27 23 31 32 14 19
Investments 23 23 23 32 34 38 84 99 95 84 126 143 144
367 330 379 386 405 399 333 459 620 625 584 638 800
Total Assets 874 809 1,117 1,094 1,101 1,112 1,095 1,257 1,410 1,415 1,476 1,610 1,764

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 -53 -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 -91 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 87
Days Payable 178 339 250 162 194 188 168 220 211 215 311 137
Cash Conversion Cycle -37 -97 -94 -15 -33 -44 -18 -38 -79 -3 140 -23
Working Capital Days 127 53 3 36 27 24 -1 -13 -17 12 65 5
ROCE % 13% 11% 9% 10% 9% 11% 26% 23% 31% 26% 8% 12%

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
42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.80 42.78 42.78
7.99 7.99 8.92 10.41 10.64 10.82 10.95 10.95 10.96 10.71 10.98 12.04
2.71 2.55 1.75 0.67 0.02 0.03 0.03 0.24 0.24 0.24 0.22 0.21
14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27
32.37 32.53 32.40 32.00 32.41 32.23 32.10 31.89 31.88 31.98 31.75 30.69

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