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:
Company has good consistent profit growth of 42.08% over 5 years
Cons:
Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
Promoter's stake has decreased
Company has a low return on equity of 6.37% for last 3 years.
Contingent liabilities of Rs.408.22 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 Consolidated Figures in Rs. Crores / View Standalone

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
213.96 198.12 247.57 262.30 244.76 247.98 329.44 372.06 323.51 360.83 414.15 426.45
182.35 166.19 208.89 215.12 200.77 210.24 286.27 324.42 285.03 320.20 373.26 373.87
Operating Profit 31.61 31.93 38.68 47.18 43.99 37.74 43.17 47.64 38.48 40.63 40.89 52.58
OPM % 14.77% 16.12% 15.62% 17.99% 17.97% 15.22% 13.10% 12.80% 11.89% 11.26% 9.87% 12.33%
Other Income 4.40 4.68 4.74 1.18 1.75 4.02 0.03 -0.77 1.27 1.62 1.69 1.35
Interest 16.54 14.62 13.74 13.75 13.98 15.02 16.09 16.65 15.54 16.07 16.15 16.27
Depreciation 9.14 10.33 11.03 12.29 14.66 15.82 16.01 16.27 16.88 18.41 18.59 18.07
Profit before tax 10.33 11.66 18.65 22.32 17.10 10.92 11.10 13.95 7.33 7.77 7.84 19.59
Tax % 37.56% 44.00% 48.90% 29.12% 34.56% 31.50% 45.41% 59.28% 69.17% 42.47% 40.05% 35.78%
Net Profit 6.71 6.61 10.14 16.31 11.16 6.06 5.80 7.07 4.02 5.08 5.16 6.16
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
1,058 711 670 722 768 780 761 842 827 855 1,033 1,355 1,525
1,068 630 585 689 770 700 672 756 743 753 883 1,183 1,352
Operating Profit -10 81 86 33 -3 80 89 86 84 102 149 173 173
OPM % -1% 11% 13% 4% -0% 10% 12% 10% 10% 12% 14% 13% 11%
Other Income 136 36 11 -5 33 13 17 28 41 15 15 5 6
Interest 34 36 30 27 17 43 64 61 57 57 59 62 64
Depreciation 24 28 36 35 27 33 38 40 46 34 43 63 72
Profit before tax 69 53 31 -35 -14 17 4 13 22 26 63 53 43
Tax % 35% -2% 20% -2% 24% 7% -77% -26% 9% 28% 39% 43%
Net Profit 45 50 18 -36 -8 16 7 9 16 18 39 34 20
EPS in Rs 15.60 12.70 4.55 0.00 0.00 2.81 1.26 1.70 2.93 3.31 7.07 6.13
Dividend Payout % 0% 0% 0% -0% -1% 0% 0% 0% 0% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:6.66%
5 Years:12.25%
3 Years:17.89%
TTM:27.69%
Compounded Profit Growth
10 Years:-1.31%
5 Years:42.08%
3 Years:32.24%
TTM:-32.14%
Return on Equity
10 Years:3.21%
5 Years:4.60%
3 Years:6.37%
Last Year:6.63%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

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 322 275 231 290 233 362 378 383 387 400 438 469 544
Borrowings 630 686 940 823 604 597 785 829 761 1,002 1,256 1,330 1,113
532 555 434 488 655 398 341 390 590 577 629 685 1,032
Total Liabilities 1,515 1,555 1,644 1,641 1,532 1,413 1,560 1,658 1,793 2,034 2,379 2,540 2,748
338 628 711 650 368 501 541 534 569 764 901 921 900
CWIP 77 45 155 303 490 475 563 615 691 673 765 879 1,028
Investments 97 173 104 88 26 1 2 1 0 17 17 24 18
1,002 708 675 600 648 435 454 507 533 581 696 716 802
Total Assets 1,515 1,555 1,644 1,641 1,532 1,413 1,560 1,658 1,793 2,034 2,379 2,540 2,748

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
27 64 87 49 -73 25 87 21 75 75 55 120
-132 -258 -110 -296 -55 -117 -153 -58 -137 -188 -241 -184
288 176 8 150 236 -25 112 -51 68 119 198 32
Net Cash Flow 184 -18 -15 -97 108 -117 45 -88 6 7 11 -33

Ratios Consolidated / View Standalone

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 % 8% 8% 6% 1% 0% 6% 6% 5% 6% 6% 8% 6%
Debtor Days 93 113 104 97 52 51 76 72 73 87 101 83
Inventory Turnover 25.31 31.75 125.78 190.76 102.06 63.33 52.03 53.56 52.98 60.26 76.79 99.37