S P Apparels Ltd

S P Apparels Ltd

₹ 589 0.32%
24 Apr 11:24 a.m.
About

The company was established in 1989, it is a leading manufacturer and exporter of knitted garments for infants and children in India. These are manufactured at the integrated facilities that allow providing end-to-end garment manufacturing services from greige fabric to finished products. [1], Mr. P. Sundararajan is the Chairman and Managing Director of our Company. [2]. The company provides end-to-end garment manufacturing from greige fabric to finished products including bodysuits, sleepsuits, tops, and bottoms. [3]

Key Points

Business Segments

  • Market Cap 1,477 Cr.
  • Current Price 589
  • High / Low 710 / 355
  • Stock P/E 14.7
  • Book Value 292
  • Dividend Yield 0.51 %
  • ROCE 16.2 %
  • ROE 14.0 %
  • Face Value 10.0

Pros

  • Debtor days have improved from 35.4 to 16.4 days.
  • Company's working capital requirements have reduced from 134 days to 79.6 days

Cons

  • The company has delivered a poor sales growth of 8.42% over past five years.
  • Company has a low return on equity of 12.0% 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: Textiles Industry: Textiles - Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
173 155 121 183 220 216 217 269 219 235 218 251 224
137 132 93 143 178 172 174 230 195 192 177 202 186
Operating Profit 36 23 28 39 41 43 43 39 24 43 41 50 37
OPM % 21% 15% 23% 21% 19% 20% 20% 15% 11% 18% 19% 20% 17%
0 1 0 1 -0 5 7 9 8 2 4 5 5
Interest 3 2 3 1 3 3 5 7 1 6 5 3 4
Depreciation 8 7 9 8 8 8 9 8 9 8 9 9 9
Profit before tax 25 14 16 31 30 36 36 33 23 30 32 42 29
Tax % 27% 31% 32% 28% 18% 30% 26% 22% 28% 24% 31% 23% 24%
18 10 11 23 24 25 27 26 16 23 22 33 22
EPS in Rs 7.05 3.82 4.37 8.77 9.41 9.84 10.40 9.96 6.47 9.27 8.68 13.10 8.88
Raw PDF

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
400 426 451 474 536 619 627 777 757 536 735 940 928
338 370 386 405 447 518 523 646 675 439 580 790 757
Operating Profit 62 56 64 70 89 101 104 131 82 96 155 149 171
OPM % 15% 13% 14% 15% 17% 16% 17% 17% 11% 18% 21% 16% 18%
1 1 1 7 -12 21 16 3 13 1 1 22 16
Interest 40 35 36 31 25 18 29 6 22 13 11 16 18
Depreciation 16 17 18 20 21 21 24 23 32 30 32 34 35
Profit before tax 7 5 13 25 31 83 68 105 41 54 113 122 134
Tax % -73% 40% 43% 57% 34% 40% 38% 33% -8% 28% 26% 25%
12 3 7 11 20 49 42 70 44 39 83 92 100
EPS in Rs 7.04 1.87 4.26 6.50 11.95 19.65 16.69 27.16 17.14 15.05 32.38 36.59 39.93
Dividend Payout % 0% 0% 0% 0% 0% 3% 3% 0% 0% 15% 0% 8%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 7%
TTM: 1%
Compounded Profit Growth
10 Years: 40%
5 Years: 18%
3 Years: 21%
TTM: 7%
Stock Price CAGR
10 Years: %
5 Years: 14%
3 Years: 57%
1 Year: 67%
Return on Equity
10 Years: 13%
5 Years: 12%
3 Years: 12%
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 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 17 17 17 17 17 25 25 26 26 26 26 25 25
Reserves 52 55 62 72 111 345 377 460 496 526 604 650 707
Preference Capital 20 20 27 27 20 0 19 0 0 0 0 0
390 357 328 273 256 181 200 206 216 181 205 190 195
75 97 120 168 194 139 209 193 143 150 166 139 155
Total Liabilities 534 526 527 530 578 690 811 884 882 883 1,001 1,004 1,082
302 292 278 268 279 300 306 314 440 438 434 439 435
CWIP 0 0 0 10 4 0 6 54 0 10 8 10 12
Investments 7 7 7 7 8 66 39 8 8 8 11 175 179
226 226 243 245 287 324 459 508 434 427 549 381 457
Total Assets 534 526 527 530 578 690 811 884 882 883 1,001 1,004 1,082

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
31 81 59 83 50 50 4 78 87 79 52 227
-12 -5 -14 -6 -30 -122 -15 -60 -39 -21 -35 -156
-20 -73 -44 -77 -20 75 14 -17 -50 -45 11 -73
Net Cash Flow -1 2 0 0 0 2 2 1 -2 13 28 -2

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 52 44 45 59 59 80 92 57 41 59 31 16
Inventory Days 296 268 219 187 226 152 305 319 267 523 432 228
Days Payable 3 92 109 182 201 99 151 130 88 159 120 54
Cash Conversion Cycle 344 219 155 64 83 133 246 245 220 422 343 190
Working Capital Days 152 29 50 48 60 99 149 129 124 178 146 80
ROCE % 10% 9% 11% 14% 18% 21% 16% 17% 10% 9% 17% 16%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
61.69% 61.69% 61.69% 61.69% 61.69% 61.69% 61.93% 61.93% 61.93% 61.93% 61.93% 61.93%
0.05% 0.42% 0.98% 1.19% 1.31% 1.16% 1.23% 1.09% 1.07% 1.50% 1.39% 1.53%
14.74% 15.30% 15.01% 15.05% 16.35% 16.86% 17.61% 17.73% 17.60% 18.47% 19.08% 18.87%
23.52% 22.59% 22.33% 22.07% 20.66% 20.29% 19.22% 19.25% 19.41% 18.12% 17.61% 17.68%
No. of Shareholders 15,05615,43315,31418,35019,66526,84119,61218,39217,77017,20316,37615,677

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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

Documents

Concalls