Seshasayee Paper & Boards Ltd

₹ 268 -1.11%
27 Jan - 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 1,691 Cr.
  • Current Price 268
  • High / Low 349 / 134
  • Stock P/E 5.05
  • Book Value 223
  • Dividend Yield 0.93 %
  • ROCE 12.2 %
  • ROE 9.09 %
  • 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 12.2% over last 3 years.
  • Dividend payout has been low at 13.7% 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
285 320 139 150 165 328 218 332 334 471 431 523 556
218 256 108 122 151 294 187 292 319 392 343 383 406
Operating Profit 68 65 31 28 14 34 31 40 15 79 88 140 150
OPM % 24% 20% 23% 19% 8% 10% 14% 12% 5% 17% 20% 27% 27%
8 6 7 9 4 5 6 7 3 7 5 13 11
Interest 1 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 9 8 9 9 9 10 10 10 10 11 12 12 12
Profit before tax 66 62 29 27 7 29 26 36 8 75 81 141 148
Tax % 30% 25% 33% 31% 35% -119% 25% 24% 25% 24% 25% 24% 25%
Net Profit 46 47 19 19 5 64 20 27 6 57 60 106 112
EPS in Rs 7.27 7.43 3.06 2.98 0.74 10.09 3.15 4.36 0.96 8.98 9.56 16.85 17.69
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
820 998 1,008 1,108 1,105 1,326 1,184 782 1,355 1,981
716 908 901 894 898 1,030 917 675 1,189 1,524
Operating Profit 105 90 107 214 207 296 267 108 166 456
OPM % 13% 9% 11% 19% 19% 22% 23% 14% 12% 23%
5 3 4 12 15 25 31 26 24 37
Interest 44 37 32 23 14 14 7 3 3 3
Depreciation 49 29 29 31 32 34 35 38 41 46
Profit before tax 16 26 50 172 176 273 256 93 146 445
Tax % -25% 32% 29% 23% 30% 30% 29% -15% 24%
Net Profit 20 16 36 132 123 192 182 106 110 335
EPS in Rs 3.64 2.61 5.71 20.97 19.54 30.44 28.79 16.87 17.44 53.08
Dividend Payout % 25% 31% 17% 10% 15% 13% 13% 14% 14%
Compounded Sales Growth
10 Years: %
5 Years: 4%
3 Years: 1%
TTM: 63%
Compounded Profit Growth
10 Years: %
5 Years: -4%
3 Years: -17%
TTM: 186%
Stock Price CAGR
10 Years: 19%
5 Years: 4%
3 Years: 17%
1 Year: 79%
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 12%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
11 13 13 13 13 13 12 12 12 12
Reserves 351 401 430 592 713 881 1,019 1,143 1,255 1,393
434 329 302 171 149 97 10 8 4 4
322 380 391 343 406 446 407 355 388 410
Total Liabilities 1,118 1,123 1,135 1,118 1,281 1,436 1,448 1,518 1,660 1,819
726 661 638 650 686 685 688 747 828 813
CWIP 2 13 50 41 27 23 31 32 14 19
Investments 11 43 47 93 108 107 103 152 178 185
379 405 399 335 460 621 626 585 640 802
Total Assets 1,118 1,123 1,135 1,118 1,281 1,436 1,448 1,518 1,660 1,819

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
209 105 112 200 225 273 165 -7 274
-317 -20 -46 -36 -50 -16 -26 -54 -250
176 -104 -66 -154 -51 -89 -124 -31 -22
Net Cash Flow 68 -20 0 10 124 168 15 -91 3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 44 45 47 35 35 22 25 38 27
Inventory Days 112 116 97 115 147 110 187 413 87
Days Payable 251 194 188 168 220 211 215 311 137
Cash Conversion Cycle -95 -33 -44 -18 -38 -79 -3 140 -23
Working Capital Days 3 27 24 -1 -13 -17 12 65 5
ROCE % 11% 26% 22% 31% 26% 9% 12%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.80 42.78 42.78 42.78
7.99 8.92 10.41 10.64 10.82 10.95 10.95 10.96 10.71 10.98 12.04 12.73
2.55 1.75 0.67 0.02 0.03 0.03 0.24 0.24 0.24 0.22 0.21 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
32.53 32.40 32.00 32.41 32.23 32.10 31.89 31.88 31.98 31.75 30.69 30.00

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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