Tasty Bite Eatables Ltd

Tasty Bite Eatables is engaged in the business of manufacturing and selling Prepared Foods. It includes a range of Ready-to-Serve (RTS) ethnic food products under the brand name Tasty Bite and Frozen Formed Products (FFP).

Pros:
Company has reduced debt.
Company has good consistent profit growth of 46.79% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 29.11%
Cons:
Stock is trading at 16.18 times its book value
Earnings include an other income of Rs.20.41 Cr.

Peer Comparison Sector: FMCG // Industry: Food - Processing - Indian

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Quarterly Results Figures in Rs. Crores

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
59 65 70 59 85 73 79 75 88 88 85 91
51 54 56 52 69 63 64 67 75 77 72 83
Operating Profit 8 10 15 7 16 10 15 8 14 11 13 8
OPM % 13% 16% 21% 12% 18% 13% 19% 11% 15% 12% 15% 9%
Other Income 1 1 1 2 2 1 2 5 5 4 4 7
Interest 0 1 1 1 1 0 1 1 1 1 1 0
Depreciation 2 2 2 2 3 3 3 3 3 3 3 4
Profit before tax 6 8 13 6 14 8 13 9 14 11 13 11
Tax % 32% 39% 36% 40% 41% 15% 40% 36% 35% 35% 38% 30%
Net Profit 4 5 8 4 8 7 8 6 9 7 8 8
EPS in Rs 15.86 18.43 32.17 13.69 32.84 26.32 30.26 22.49 36.35 27.01 31.31 29.96
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
33 43 68 81 82 112 145 167 196 252 296 337 352
34 43 59 77 77 99 134 152 174 209 248 291 307
Operating Profit -1 -0 9 4 5 13 12 15 21 43 48 46 45
OPM % -3% -1% 13% 5% 6% 11% 8% 9% 11% 17% 16% 14% 13%
Other Income 4 5 5 1 1 0 0 11 13 3 7 18 20
Interest 1 1 1 1 1 1 2 3 2 3 2 4 4
Depreciation 1 1 2 2 2 3 4 7 7 9 11 13 13
Profit before tax 2 2 11 3 2 9 6 16 25 34 41 47 49
Tax % 33% 39% 38% 39% 31% 32% 31% 35% 34% 36% 36% 36%
Net Profit 1 1 7 2 2 6 4 11 16 22 26 30 32
EPS in Rs 4.55 5.49 26.93 7.16 6.26 24.45 16.67 41.84 62.39 85.31 103.10 117.16 124.63
Dividend Payout % 0% 0% 4% 14% 15% 4% 6% 2% 3% 2% 2% 2%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:22.96%
5 Years:18.30%
3 Years:19.81%
TTM:12.76%
Compounded Profit Growth
10 Years:34.96%
5 Years:46.79%
3 Years:23.16%
TTM:11.42%
Return on Equity
10 Years:26.04%
5 Years:29.10%
3 Years:29.11%
Last Year:25.99%

Balance Sheet Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
3 3 3 3 3 3 3 3 3 3 3 3
Reserves 10 12 18 20 21 27 31 42 58 72 97 129
Borrowings 7 12 15 18 21 43 44 43 40 63 54 39
10 10 16 17 16 21 32 26 31 34 40 57
Total Liabilities 30 36 52 57 61 94 110 114 132 171 194 227
11 11 13 23 31 32 64 61 61 65 76 82
CWIP 0 3 2 1 1 12 1 0 0 9 2 10
Investments 0 0 0 0 0 0 0 1 2 0 0 0
19 23 36 34 30 50 46 52 69 97 115 135
Total Assets 30 36 52 57 61 94 110 114 132 171 194 227

Cash Flows Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
2 2 -1 9 11 -2 23 10 15 12 21 56
-2 -4 -4 -12 -8 -15 -21 -4 -7 -24 -7 -30
0 2 4 2 1 20 -7 -4 -6 11 -12 -23
Net Cash Flow 1 1 -0 -1 4 3 -5 2 1 -1 2 2

Ratios Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 12% 15% 39% 10% 8% 17% 11% 23% 28% 31% 30% 32%
Debtor Days 81 78 74 63 41 58 36 40 43 48 45 42
Inventory Turnover 8.63 9.92 11.24 10.91 11.73 13.52 12.27 11.92 11.85 10.83 9.65 8.15