South India Paper Mills Ltd

₹ 121 2.63%
02 Dec - close price
About

South India Paper Mills Ltd is primarily engaged in the manufacturing of Paper, Paperboards, Cartons, and Power Generation. [1]

Key Points

Products
Corrugating case raw materials: Kraft Liner Substitutes, Test Liners, White Kraft Liners, Fluting Grades, high-performance fluting, and Test Liner and some Special Application Grades for packaging.
Paper substance: Ranges between 70GSM to 400 GSM with strength ranging between 14 BF and 35 BF. [1]

  • Market Cap 181 Cr.
  • Current Price 121
  • High / Low 195 / 107
  • Stock P/E 84.7
  • Book Value 132
  • Dividend Yield 0.83 %
  • ROCE 8.39 %
  • ROE 9.97 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.91 times its book value

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -1.96%
  • The company has delivered a poor sales growth of 9.33% over past five years.
  • Promoter holding is low: 39.9%
  • Company has a low return on equity of 9.70% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 9.64% of profits over last 3 years

* 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: Paper Industry: Paper

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Quarterly Results

Figures in Rs. Crores

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
54.06 56.13 46.55 34.63 57.51 63.60 71.04 69.42 74.64 84.79 76.51 80.52 75.19
44.36 46.91 39.88 28.19 47.68 53.55 59.61 57.89 65.21 75.43 69.22 73.15 76.55
Operating Profit 9.70 9.22 6.67 6.44 9.83 10.05 11.43 11.53 9.43 9.36 7.29 7.37 -1.36
OPM % 17.94% 16.43% 14.33% 18.60% 17.09% 15.80% 16.09% 16.61% 12.63% 11.04% 9.53% 9.15% -1.81%
0.13 0.21 0.11 0.14 3.14 0.10 0.10 2.76 0.12 0.30 0.16 0.03 0.15
Interest 1.12 0.98 0.95 1.08 0.98 1.05 1.35 1.26 1.51 1.49 1.61 3.26 3.69
Depreciation 2.41 2.43 2.53 2.40 2.41 2.45 2.88 2.54 2.54 2.54 1.81 3.87 3.87
Profit before tax 6.30 6.02 3.30 3.10 9.58 6.65 7.30 10.49 5.50 5.63 4.03 0.27 -8.77
Tax % 36.03% 29.40% 3.64% 29.03% 26.93% 28.87% 29.59% 14.97% 25.64% 25.75% -11.17% 81.48% 25.09%
Net Profit 4.03 4.25 3.19 2.20 7.00 4.73 5.13 8.91 4.09 4.18 4.48 0.05 -6.57
EPS in Rs 2.69 2.83 2.13 1.47 4.67 3.15 3.42 5.94 2.73 2.79 2.99 0.03 -4.38
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
165 170 168 142 185 206 195 134 241 216 226 304 317
140 147 141 128 155 170 164 122 204 182 188 266 294
Operating Profit 25 23 27 15 29 36 31 13 37 35 38 38 23
OPM % 15% 13% 16% 10% 16% 18% 16% 9% 15% 16% 17% 12% 7%
1 6 1 1 1 9 1 2 1 1 3 3 1
Interest 2 3 2 2 2 2 4 5 5 4 5 6 10
Depreciation 5 6 7 7 8 8 10 9 10 10 10 9 12
Profit before tax 19 20 18 6 21 35 18 1 23 21 27 26 1
Tax % 26% 23% 26% 32% 35% 31% 34% -19% 21% 25% 28% 16%
Net Profit 14 15 14 4 14 24 12 1 18 16 19 22 2
EPS in Rs 9.25 10.27 9.10 2.59 9.02 16.06 7.97 0.63 12.25 10.63 12.70 14.44 1.43
Dividend Payout % 22% 21% 24% 58% 28% 19% 19% 158% 12% 14% 8% 7%
Compounded Sales Growth
10 Years: 6%
5 Years: 9%
3 Years: 8%
TTM: 14%
Compounded Profit Growth
10 Years: 5%
5 Years: 10%
3 Years: 2%
TTM: -90%
Stock Price CAGR
10 Years: 12%
5 Years: -1%
3 Years: 15%
1 Year: -12%
Return on Equity
10 Years: 10%
5 Years: 8%
3 Years: 10%
Last Year: 10%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
15 15 15 15 15 15 15 15 15 15 15 15 15
Reserves 62 74 84 85 93 112 126 125 141 154 171 191 183
21 14 13 15 17 34 45 53 38 42 100 199 212
29 32 30 38 37 55 44 42 45 42 53 66 65
Total Liabilities 127 135 141 153 162 216 230 235 239 253 339 471 474
65 79 77 80 79 114 136 130 132 128 120 304 296
CWIP 2 0 1 3 2 16 11 15 8 15 106 39 63
Investments 1 0 0 0 0 0 0 0 0 0 0 0 0
59 56 63 69 82 86 83 90 99 110 113 127 115
Total Assets 127 135 141 153 162 216 230 235 239 253 339 471 474

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
14 22 16 11 15 30 26 -2 39 40 22 39
-10 -12 -8 -12 -7 -44 -29 1 -12 -31 -77 -105
-2 -12 -7 -0 -4 12 3 -2 -21 -3 51 84
Net Cash Flow 2 -3 2 -1 3 -2 1 -2 5 6 -4 18

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 41 43 43 69 60 64 56 104 60 50 75 58
Inventory Days 90 87 119 130 123 103 109 197 120 126 107 83
Days Payable 36 54 50 76 54 69 60 98 71 52 57 52
Cash Conversion Cycle 95 76 112 124 129 98 105 203 108 123 125 88
Working Capital Days 63 51 63 82 79 60 81 141 71 62 85 55
ROCE % 23% 19% 19% 7% 19% 20% 13% 2% 14% 13% 11% 8%

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
41.88 41.85 41.85 41.85 41.90 41.92 41.93 41.94 41.95 41.90 41.88 39.92
1.75 1.75 1.75 1.75 1.75 1.75 1.29 0.49 0.49 0.49 0.49 0.09
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.41
56.36 56.39 56.39 56.39 56.34 56.32 56.78 57.57 57.57 57.61 57.63 59.58

* 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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