Sical Logistics Ltd

Sical Logistics is a leading integrated multimodal logistics solutions provider. The Company is into every aspect of logistics namely port handling road and rail transport warehousing shipping stevedoring customs handling trucking retail logisitics mining and integrated logisitics.

Pros:
Stock is trading at 0.97 times its book value
Company is expected to give good quarter
Cons:
Though the company is reporting repeated profits, it is not paying out dividend
Promoter's stake has decreased
Company has a low return on equity of 6.25% for last 3 years.
Contingent liabilities of Rs.1413.17 Cr.
Company might be capitalizing the interest cost
Promoters have pledged 73.65% of their holding

Peer Comparison Sector: Logistics // Industry: Miscellaneous

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
165 159 205 210 191 192 272 309 270 301 353 379
140 135 175 177 160 167 244 276 241 269 319 334
Operating Profit 25 24 30 33 31 25 27 33 29 32 34 46
OPM % 15% 15% 15% 16% 16% 13% 10% 11% 11% 11% 10% 12%
Other Income 19 22 25 18 25 5 2 24 3 2 1 2
Interest 24 22 24 27 28 8 9 34 8 8 10 9
Depreciation 5 6 8 8 10 11 11 11 12 13 14 22
Profit before tax 16 19 23 17 18 11 9 13 12 12 12 16
Tax % 34% 47% 48% 19% 35% 40% 40% 64% 56% 38% 36% 36%
Net Profit 10 10 12 13 12 7 6 5 5 7 8 10
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
988 561 472 536 538 501 500 561 578 647 817 1,074 1,303
1,028 529 439 493 544 454 445 517 527 572 705 957 1,162
Operating Profit -40 32 33 43 -6 47 55 45 51 76 112 117 141
OPM % -4% 6% 7% 8% -1% 9% 11% 8% 9% 12% 14% 11% 11%
Other Income 137 39 7 14 31 8 14 40 61 55 13 11 7
Interest 28 27 24 20 11 31 47 58 64 75 23 33 36
Depreciation 14 12 12 12 11 13 15 17 22 17 27 44 61
Profit before tax 55 32 5 26 3 10 8 10 26 39 74 51 52
Tax % 41% -12% -14% -0% -324% -29% -97% -5% -6% 38% 38% 44%
Net Profit 33 36 5 26 11 13 15 11 27 24 46 29 31
EPS in Rs 11.41 9.17 1.38 6.67 2.72 2.39 2.75 1.92 4.89 4.37 8.19 5.15
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:6.71%
5 Years:16.52%
3 Years:22.93%
TTM:35.24%
Compounded Profit Growth
10 Years:3.62%
5 Years:15.12%
3 Years:6.27%
TTM:6.52%
Return on Equity
10 Years:4.63%
5 Years:4.92%
3 Years:6.25%
Last Year:5.00%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
30 40 40 40 40 56 56 56 56 56 56 56 59
Reserves 291 235 160 291 227 347 361 376 390 448 494 522 544
Borrowings 532 581 750 469 276 226 337 420 482 677 944 1,031 771
504 392 338 333 432 164 110 93 201 278 316 364 710
Total Liabilities 1,357 1,247 1,288 1,133 974 792 864 945 1,128 1,459 1,810 1,973 2,084
161 285 283 214 93 96 128 118 166 257 384 391 462
CWIP 71 1 1 1 0 1 3 9 4 0 0 1 16
Investments 179 165 429 425 291 313 321 280 282 288 289 304 300
946 797 576 493 590 382 412 538 677 913 1,136 1,277 1,306
Total Assets 1,357 1,247 1,288 1,133 974 792 864 945 1,128 1,459 1,810 1,973 2,084

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-9 62 12 28 -12 63 20 18 4 98 43 87
-73 -172 -73 -38 36 -33 -20 -108 -111 -270 -199 -196
216 63 61 -77 108 -157 64 9 112 172 180 74
Net Cash Flow 134 -47 1 -87 132 -127 64 -80 4 0 23 -35

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 6% 5% 4% 4% 2% 7% 8% 7% 10% 11% 7% 5%
Debtor Days 90 127 125 109 52 58 93 94 106 90 96 82
Inventory Turnover 24.08 25.96 105.58 193.19 136.62 106.16 93.02 90.26 95.87 114.27 138.64 176.35