Seshasayee Paper & Boards Ltd

About [ edit ]

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 [ edit ]
  • Market Cap 1,059 Cr.
  • Current Price 168
  • High / Low 184 / 80.0
  • Stock P/E 11.7
  • Book Value 167
  • Dividend Yield 2.08 %
  • ROCE 26.0 %
  • ROE 19.0 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 1.00 times its book value

Cons

  • The company has delivered a poor sales growth of 3.48% over past five years.

Peer comparison

Sector: Paper Industry: Paper

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
274.90 331.30 354.55 364.76 278.51 299.95 285.46 320.33 139.23 150.42 164.52
227.98 249.17 271.64 281.63 216.24 227.80 217.63 255.64 107.75 122.39 150.72
Operating Profit 46.92 82.13 82.91 83.13 62.27 72.15 67.83 64.69 31.48 28.03 13.80
OPM % 17.07% 24.79% 23.38% 22.79% 22.36% 24.05% 23.76% 20.19% 22.61% 18.63% 8.39%
Other Income 2.96 6.10 4.21 12.69 6.52 10.20 8.13 7.13 7.42 9.48 3.51
Interest 3.79 3.56 3.41 3.05 2.87 2.04 1.13 0.85 0.72 0.88 0.71
Depreciation 8.92 9.01 9.01 6.88 9.07 9.17 9.16 7.63 9.16 9.27 9.46
Profit before tax 37.17 75.66 74.70 85.89 56.85 71.14 65.67 63.34 29.02 27.36 7.14
Tax % 28.81% 31.34% 32.76% 26.17% 31.38% 29.87% 30.23% 24.20% 33.49% 31.25% 34.87%
Net Profit 26.46 51.95 50.23 63.41 39.01 49.89 45.82 48.01 19.30 18.81 4.65
EPS in Rs 4.19 8.23 7.96 10.05 6.18 7.91 7.27 7.61 3.06 2.98 0.74
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
820 998 1,008 1,108 1,105 1,326 1,184 774
716 908 901 894 898 1,030 917 636
Operating Profit 105 90 107 214 207 296 267 138
OPM % 13% 9% 11% 19% 19% 22% 23% 18%
Other Income 5 3 4 12 15 25 32 28
Interest 44 37 32 23 14 14 7 3
Depreciation 49 29 29 31 32 34 35 36
Profit before tax 16 26 50 172 176 273 257 127
Tax % -25% 32% 29% 23% 30% 30% 29%
Net Profit 20 16 36 132 123 192 183 91
EPS in Rs 3.64 2.61 5.71 20.97 19.54 30.44 28.97 14.39
Dividend Payout % 25% 31% 17% 10% 15% 13% 14%
Compounded Sales Growth
10 Years:%
5 Years:3%
3 Years:2%
TTM:-37%
Compounded Profit Growth
10 Years:%
5 Years:58%
3 Years:11%
TTM:-54%
Stock Price CAGR
10 Years:15%
5 Years:28%
3 Years:-1%
1 Year:20%
Return on Equity
10 Years:%
5 Years:20%
3 Years:20%
Last Year:19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
11 13 13 13 13 13 13 13
Reserves 351 401 430 592 713 881 1,019 1,042
Borrowings 434 329 302 171 149 97 10 6
322 380 391 343 406 446 418 434
Total Liabilities 1,118 1,123 1,135 1,118 1,281 1,436 1,461 1,494
726 661 638 650 686 685 688 693
CWIP 2 13 50 41 27 23 31 47
Investments 11 43 47 93 108 107 103 116
379 405 399 335 460 621 638 637
Total Assets 1,118 1,123 1,135 1,118 1,281 1,436 1,461 1,494

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
209 105 112 200 225 273 166
-317 -20 -46 -36 -50 -16 -27
176 -104 -66 -154 -51 -89 -124
Net Cash Flow 68 -20 0 10 124 168 15

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 11% 26% 22% 31% 26%
Debtor Days 44 45 47 35 35 22 25
Inventory Turnover 4.50 4.35 3.73 4.14 3.11

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65 42.65
1.51 1.50 1.59 1.65 1.65 1.65 1.68 7.99 7.99 8.92 10.41 10.64
3.74 3.74 3.71 3.44 3.45 3.44 3.46 2.71 2.55 1.75 0.67 0.02
14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27 14.27
37.82 37.84 37.78 37.99 37.98 37.99 37.94 32.37 32.53 32.40 32.00 32.41

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