Siddhika Coatings Ltd
Incorporated in 2010, Siddhika Coatings Ltd is in the business of dealing in Oil Paints, Distempers, Cell Paints, Colours, Varnishes, Enamels, etc.
- Market Cap ₹ 55.6 Cr.
- Current Price ₹ 180
- High / Low ₹ 234 / 171
- Stock P/E 13.1
- Book Value ₹ 86.9
- Dividend Yield 1.67 %
- ROCE 19.0 %
- ROE 14.4 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 41.0%
- Debtor days have improved from 69.5 to 50.1 days.
- Company's working capital requirements have reduced from 111 days to 44.6 days
Cons
- The company has delivered a poor sales growth of 8.66% over past five years.
- Company has a low return on equity of 9.70% over last 3 years.
- Contingent liabilities of Rs.175 Cr.
* 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: Miscellaneous Industry: Miscellaneous
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9.54 | 13.88 | 16.72 | 14.46 | 19.11 | 22.87 | 21.26 | 31.14 | 29.34 | 16.53 | 20.35 | 32.21 | 34.30 | |
| 9.06 | 12.09 | 14.29 | 12.19 | 16.09 | 19.28 | 17.83 | 26.61 | 25.57 | 15.30 | 18.53 | 27.85 | 29.03 | |
| Operating Profit | 0.48 | 1.79 | 2.43 | 2.27 | 3.02 | 3.59 | 3.43 | 4.53 | 3.77 | 1.23 | 1.82 | 4.36 | 5.27 |
| OPM % | 5.03% | 12.90% | 14.53% | 15.70% | 15.80% | 15.70% | 16.13% | 14.55% | 12.85% | 7.44% | 8.94% | 13.54% | 15.36% |
| 0.02 | 0.00 | 0.10 | 0.07 | 0.09 | 0.09 | 0.15 | 0.26 | 0.27 | 0.18 | 0.36 | 0.51 | 0.58 | |
| Interest | 0.00 | 0.00 | 0.01 | 0.01 | 0.06 | 0.05 | 0.04 | 0.05 | 0.05 | 0.03 | 0.02 | 0.06 | 0.02 |
| Depreciation | 0.01 | 0.01 | 0.04 | 0.14 | 0.12 | 0.16 | 0.12 | 0.14 | 0.16 | 0.14 | 0.14 | 0.19 | 0.19 |
| Profit before tax | 0.49 | 1.78 | 2.48 | 2.19 | 2.93 | 3.47 | 3.42 | 4.60 | 3.83 | 1.24 | 2.02 | 4.62 | 5.64 |
| Tax % | 30.61% | 30.90% | 33.47% | 33.79% | 33.11% | 33.14% | 27.49% | 27.39% | 25.33% | 26.61% | 19.80% | 23.81% | |
| 0.34 | 1.22 | 1.65 | 1.46 | 1.96 | 2.32 | 2.48 | 3.34 | 2.87 | 0.90 | 1.61 | 3.52 | 4.25 | |
| EPS in Rs | 13.60 | 48.80 | 66.00 | 64.89 | 86.50 | 102.38 | 109.44 | 147.40 | 12.67 | 3.97 | 5.21 | 11.39 | 13.75 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 2.82% | 11.90% | 0.00% | 10.33% | 15.82% | 50.44% | 46.06% | 26.34% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 9% |
| 3 Years: | 3% |
| TTM: | 34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 7% |
| 3 Years: | 8% |
| TTM: | 62% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 48% |
| 1 Year: | 6% |
| Return on Equity | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 14% |
| 3 Years: | 10% |
| Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.25 | 0.25 | 0.25 | 0.23 | 0.23 | 0.23 | 0.23 | 2.27 | 2.27 | 3.09 | 3.09 | 3.09 |
| Reserves | 0.74 | 1.96 | 3.61 | 4.70 | 6.64 | 8.69 | 10.83 | 14.04 | 14.94 | 19.81 | 22.59 | 23.75 |
| 0.01 | 0.00 | 0.25 | 0.61 | 0.33 | 0.25 | 0.26 | 0.33 | 0.33 | 0.28 | 0.00 | 0.00 | |
| 1.65 | 2.66 | 3.49 | 2.51 | 4.00 | 3.75 | 3.49 | 5.36 | 3.11 | 3.86 | 7.58 | 7.49 | |
| Total Liabilities | 2.65 | 4.87 | 7.60 | 8.05 | 11.20 | 12.92 | 14.81 | 22.00 | 20.65 | 27.04 | 33.26 | 34.33 |
| 0.04 | 0.06 | 0.20 | 0.27 | 0.37 | 0.40 | 1.98 | 1.97 | 1.76 | 3.48 | 3.46 | 0.62 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.21 | 1.12 | 1.62 | 1.62 | 2.07 | 2.92 | 1.45 | 2.41 | 4.93 | 5.48 | 8.35 | 16.22 |
| 2.40 | 3.69 | 5.78 | 6.16 | 8.76 | 9.60 | 11.38 | 17.62 | 13.96 | 18.08 | 21.45 | 17.49 | |
| Total Assets | 2.65 | 4.87 | 7.60 | 8.05 | 11.20 | 12.92 | 14.81 | 22.00 | 20.65 | 27.04 | 33.26 | 34.33 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.77 | 2.95 | 0.37 | 3.59 | 4.86 | ||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.06 | -1.10 | -2.30 | -2.12 | -2.70 | ||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.34 | -0.55 | -0.02 | 4.03 | -1.05 | ||
| Net Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.36 | 1.31 | -1.94 | 5.50 | 1.10 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 66.57 | 22.88 | 42.35 | 62.60 | 72.01 | 51.55 | 61.29 | 65.81 | 101.13 | 57.22 | 50.09 | |
| Inventory Days | 15.55 | 16.08 | 56.55 | 72.55 | 86.02 | 46.94 | 99.79 | 104.97 | 224.67 | 163.95 | 136.16 | |
| Days Payable | 101.43 | 113.13 | 115.67 | 92.95 | 0.00 | 3.87 | 46.88 | 4.41 | 8.21 | 14.96 | 14.19 | |
| Cash Conversion Cycle | -19.31 | -74.18 | -16.77 | 42.20 | 158.03 | 94.62 | 114.20 | 166.37 | 317.59 | 206.21 | 172.06 | |
| Working Capital Days | 22.96 | 14.46 | 37.98 | 70.68 | 75.06 | 63.20 | 99.40 | 89.45 | 186.81 | 100.26 | 44.65 | |
| ROCE % | 77.17% | 110.90% | 78.16% | 45.39% | 46.94% | 43.01% | 33.77% | 7.08% | 9.82% | 18.99% |
Business Overview:[1][2]
The company is a texture paint contract company
in a single brand segment and does business in Architectural Coatings Supplies & Applications. The company is an authorized marketing agent
& applicator for SK Kaken Ltd., Japan, and
an authorized importer of its products through
SKK Singapore Pte. Ltd. Company also provides application services which include preparing and coating interior as well as exterior surfaces of civil structures using organic and inorganic architectural textured pigments and technical-grade functional coatings.