Shankara Building Products Ltd

₹ 750 3.03%
05 Dec 4:01 p.m.
About

Shankara Building Products Ltd is one of the India's leading organized retailers of home improvement and building products in India. It caters to a large customer base spread across various end-user segments in urban and semi-urban markets through a retail led multi-channel approach.[1]

Key Points

Retail Segment (~58% of revenues in FY22 vs 48% in FY18) [1]
Under the segment, the company runs 90+ retail stores operating under the brand "Shankara Buildpro" The stores are spread across South, West and East India. It carries ~30,000 SKUs across the entire home construction and renovation lifecycle spread across various categories. Its retail footprint spans across ~4.5 lakh sq. ft with an average store size of ~4,700 sq. ft.[2]

  • Market Cap 1,719 Cr.
  • Current Price 750
  • High / Low 844 / 478
  • Stock P/E 36.8
  • Book Value 266
  • Dividend Yield 0.13 %
  • ROCE 10.1 %
  • ROE 6.30 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter

Cons

  • Stock is trading at 2.82 times its book value
  • The company has delivered a poor sales growth of 0.92% over past five years.
  • Company has a low return on equity of 5.69% over last 3 years.
  • Dividend payout has been low at 6.04% of profits over last 3 years
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -4.21%

* 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: Trading Industry: Trading

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
633 700 667 346 488 562 642 446 606 585 782 833 907
606 669 640 356 469 526 616 427 585 570 752 806 880
Operating Profit 27 31 27 -10 19 36 26 18 21 15 30 26 27
OPM % 4% 4% 4% -3% 4% 6% 4% 4% 3% 3% 4% 3% 3%
1 1 3 1 2 2 1 1 1 0 1 0 3
Interest 11 10 11 9 8 8 7 6 6 6 6 6 6
Depreciation 6 7 5 7 7 6 5 4 4 4 4 4 4
Profit before tax 11 15 15 -25 5 24 16 9 12 5 21 16 20
Tax % 4% 22% 26% 1% -15% 11% 30% 26% 24% 27% 26% 25% 21%
Net Profit 10 12 11 -25 6 22 11 6 9 4 16 12 16
EPS in Rs 4.49 5.05 4.95 -11.07 2.74 9.55 4.84 2.74 3.93 1.54 6.81 5.26 6.79
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,412 1,766 1,927 1,979 2,036 2,310 2,549 2,546 2,640 2,038 2,418 3,106
1,342 1,680 1,838 1,889 1,916 2,159 2,373 2,447 2,525 1,967 2,333 3,009
Operating Profit 70 87 89 90 120 152 175 99 115 71 85 98
OPM % 5% 5% 5% 5% 6% 7% 7% 4% 4% 4% 4% 3%
0 0 1 1 1 1 1 9 5 6 3 4
Interest 23 35 42 47 46 51 46 47 43 33 24 24
Depreciation 3 5 6 9 10 11 14 15 25 24 17 16
Profit before tax 45 48 42 35 65 90 116 46 51 20 46 61
Tax % 31% 33% 32% 35% 37% 35% 36% 29% 22% 31% 25%
Net Profit 31 32 29 23 41 59 74 33 40 14 34 47
EPS in Rs 14.71 15.03 13.13 10.32 18.62 25.72 32.29 14.33 17.45 6.06 15.02 20.40
Dividend Payout % 7% 7% 8% 10% 8% 11% 10% 10% 11% 0% 7%
Compounded Sales Growth
10 Years: 6%
5 Years: 1%
3 Years: -2%
TTM: 38%
Compounded Profit Growth
10 Years: 1%
5 Years: -10%
3 Years: 2%
TTM: -3%
Stock Price CAGR
10 Years: %
5 Years: -17%
3 Years: 36%
1 Year: 46%
Return on Equity
10 Years: 10%
5 Years: 8%
3 Years: 6%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
20 21 22 22 22 23 23 23 23 23 23 23
Reserves 141 179 211 231 269 367 433 456 485 499 533 585
222 275 284 293 223 223 248 197 278 169 133 94
96 134 158 179 285 329 509 435 389 235 352 408
Total Liabilities 480 609 676 725 799 942 1,213 1,112 1,175 926 1,041 1,110
109 138 175 205 233 259 297 253 282 256 258 268
CWIP 0 0 0 0 0 0 0 4 0 2 2 2
Investments 0 0 0 0 0 0 0 0 0 0 0 0
370 472 501 521 566 683 916 855 892 667 781 840
Total Assets 480 609 676 725 799 942 1,213 1,112 1,175 926 1,041 1,110

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-44 9 64 80 159 106 40 171 -30 133 70
-51 -33 -38 -40 -38 -37 -74 -48 55 -8 -18
94 23 -26 -40 -122 -69 34 -115 -21 -128 -60
Net Cash Flow -1 -1 1 -0 0 0 -1 8 4 -3 -8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 56 54 47 48 50 49 61 48 59 53 53
Inventory Days 37 42 46 48 53 52 69 60 61 61 61
Days Payable 20 25 25 29 48 48 76 60 55 40 52
Cash Conversion Cycle 73 71 68 67 55 52 53 48 65 74 62
Working Capital Days 70 69 63 62 48 44 56 48 65 73 63
ROCE % 19% 17% 15% 21% 25% 25% 13% 13% 7% 10%

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
56.31 56.44 56.44 56.44 56.45 56.45 56.45 56.48 56.48 52.10 52.10 52.11
23.84 25.48 24.72 24.65 23.65 23.68 23.67 22.68 22.65 8.66 8.08 8.23
4.36 4.33 4.33 4.32 4.33 4.32 4.33 4.33 4.32 4.15 4.22 4.30
15.49 13.75 14.51 14.58 15.57 15.54 15.55 16.51 16.55 35.08 35.60 35.37

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

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