Synergy Green Industries Ltd

Synergy Green Industries Ltd

₹ 343 -2.18%
21 Feb - close price
About

Synergy Green Industries Ltd is engaged in the business of foundries i.e. manufacturing of wind turbine casting and other large precision castings. It started as a greenfield foundry project and entered commercial operation in June 2012. [1]

Key Points

Shirgaokar Brothers Group
Synergy is a part of Shirgaokar Brothers Group established in 1907. Group's major business activities include, Sugar, Foundry products, and heavy engineering products and the annual group turnover is ~Rs. 3000 crs. SB group holds 38% shareholding in the company.[1]

  • Market Cap 484 Cr.
  • Current Price 343
  • High / Low 436 / 107
  • Stock P/E 41.2
  • Book Value 29.0
  • Dividend Yield 0.00 %
  • ROCE 12.5 %
  • ROE 2.22 %
  • Face Value 10.0

Pros

  • Debtor days have improved from 40.8 to 27.8 days.

Cons

  • Stock is trading at 11.9 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 5.22% over last 3 years.
  • Company's cost of borrowing seems high

* 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

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
63.50 72.10 51.17 79.83 70.57 82.21 51.68 85.04 67.81 85.18 83.83 71.95 88.22
54.52 64.52 45.94 74.53 66.20 73.05 48.08 79.51 61.44 74.35 74.35 61.53 78.46
Operating Profit 8.98 7.58 5.23 5.30 4.37 9.16 3.60 5.53 6.37 10.83 9.48 10.42 9.76
OPM % 14.14% 10.51% 10.22% 6.64% 6.19% 11.14% 6.97% 6.50% 9.39% 12.71% 11.31% 14.48% 11.06%
0.35 0.30 0.32 0.29 0.27 0.26 0.03 0.16 0.09 0.15 0.37 0.11 0.32
Interest 3.45 2.88 3.13 2.97 2.74 2.66 3.14 3.48 4.15 3.31 3.44 3.19 3.35
Depreciation 2.12 1.15 2.35 2.37 2.78 3.14 2.89 2.99 3.02 3.09 2.77 2.97 3.13
Profit before tax 3.76 3.85 0.07 0.25 -0.88 3.62 -2.40 -0.78 -0.71 4.58 3.64 4.37 3.60
Tax % 32.98% 29.87% -185.71% -52.00% -22.73% 46.96% 26.25% 91.03% -1.41% 25.33% 31.87% 26.54% 27.50%
2.52 2.70 0.19 0.39 -1.07 1.92 -1.77 -0.07 -0.72 3.43 2.49 3.21 2.61
EPS in Rs 1.78 1.91 0.13 0.28 -0.76 1.36 -1.25 -0.05 -0.51 2.43 1.76 2.27 1.85
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
0 0 103 165 208 199 284 290 329
0 0 86 145 185 174 260 263 289
Operating Profit 0 0 16 20 22 24 24 26 40
OPM % 16% 12% 11% 12% 8% 9% 12%
0 0 0 1 1 1 1 0 1
Interest 0 0 7 9 10 11 12 14 13
Depreciation 0 0 6 7 7 8 11 12 12
Profit before tax 0 0 3 5 6 5 3 1 16
Tax % -60% 12% 47% 39% 53% -25%
0 0 5 5 3 3 1 1 12
EPS in Rs 0.00 0.00 4.50 3.22 2.36 2.25 1.01 0.62 8.31
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 23%
3 Years: 12%
TTM: 15%
Compounded Profit Growth
10 Years: %
5 Years: -30%
3 Years: -38%
TTM: 1934%
Stock Price CAGR
10 Years: %
5 Years: 32%
3 Years: 48%
1 Year: 183%
Return on Equity
10 Years: %
5 Years: 9%
3 Years: 5%
Last Year: 2%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0 5 10 14 14 14 14 14 14
Reserves 2 2 -12 13 17 19 20 21 27
Preference Capital 0 7 11 11 11 11 11 11
0 25 42 51 48 65 72 73 77
0 10 68 66 67 77 88 74 72
Total Liabilities 2 42 108 145 146 175 194 182 190
0 2 33 33 58 63 76 69 72
CWIP 0 37 0 4 1 3 7 11 7
Investments 0 0 0 0 0 0 0 0 0
2 3 75 107 88 109 111 102 111
Total Assets 2 42 108 145 146 175 194 182 190

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0 0 15 11 26 11 28 26
-2 -36 -6 -23 -16 -18 -25 -14
2 36 -9 12 -8 7 -5 -12
Net Cash Flow 0 -0 -0 0 2 0 -2 0

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 64 65 29 53 42 28
Inventory Days 557 314 215 278 189 186
Days Payable 736 337 226 296 202 154
Cash Conversion Cycle -116 42 18 35 29 61
Working Capital Days 11 53 28 64 43 46
ROCE % 0% 20% 18% 17% 13% 12%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
73.96% 73.96% 73.96% 73.97% 74.14% 74.16% 74.02% 74.16% 74.17% 74.02% 74.02% 74.02%
9.88% 9.88% 9.88% 9.88% 9.88% 9.88% 9.88% 9.88% 5.92% 5.11% 4.57% 3.23%
2.04% 2.04% 2.04% 2.04% 2.04% 2.04% 2.04% 2.04% 1.94% 1.80% 1.25% 0.76%
14.12% 14.12% 14.12% 14.12% 13.94% 13.92% 14.06% 13.91% 17.98% 19.06% 20.17% 21.99%
No. of Shareholders 3013051,8702,9203,8523,7613,9914,0824,2215,1224,8756,512

* 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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