Shree Tirupati Balajee FIBC Ltd
Incorporated in 2009, Shree Tirupati Balajee
FIBC Ltd manufactures HDPE /PPWoven Sacks and Flexible Intermediate Bulk Containers[1]
- Market Cap ₹ 513 Cr.
- Current Price ₹ 506
- High / Low ₹ 550 / 99.9
- Stock P/E 30.9
- Book Value ₹ 74.0
- Dividend Yield 0.00 %
- ROCE 13.4 %
- ROE 15.8 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 43.4 to 33.8 days.
Cons
- Stock is trading at 6.84 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -3.27%
- Company has a low return on equity of 13.6% over last 3 years.
- Company might be capitalizing the interest cost
* 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.
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
|---|---|---|---|---|---|
| 111 | 117 | 198 | 176 | 156 | |
| 104 | 108 | 185 | 161 | 131 | |
| Operating Profit | 7 | 10 | 13 | 16 | 25 |
| OPM % | 7% | 8% | 6% | 9% | 16% |
| 0 | 0 | 0 | 0 | -0 | |
| Interest | 2 | 2 | 3 | 3 | 4 |
| Depreciation | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | 6 | 9 | 11 | 20 |
| Tax % | 17% | 26% | 19% | 17% | |
| 4 | 5 | 7 | 9 | 17 | |
| EPS in Rs | 3.53 | 4.71 | 6.91 | 9.25 | 16.33 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 17% |
| TTM: | -25% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 38% |
| TTM: | 131% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 66% |
| 3 Years: | 131% |
| 1 Year: | 262% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 14% |
| Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 |
| Reserves | 33 | 38 | 45 | 54 | 65 |
| 33 | 40 | 48 | 48 | 55 | |
| 6 | 5 | 10 | 6 | 7 | |
| Total Liabilities | 82 | 92 | 113 | 118 | 137 |
| 12 | 13 | 16 | 15 | 14 | |
| CWIP | 3 | 6 | 11 | 18 | 19 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 67 | 73 | 86 | 86 | 104 | |
| Total Assets | 82 | 92 | 113 | 118 | 137 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|
| 2 | 1 | 7 | 5 | |
| -5 | -5 | -11 | -3 | |
| 4 | 3 | 6 | -4 | |
| Net Cash Flow | 1 | -2 | 2 | -2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|
| Debtor Days | 32 | 46 | 51 | 34 |
| Inventory Days | 118 | 141 | 88 | 123 |
| Days Payable | 17 | 9 | 12 | 2 |
| Cash Conversion Cycle | 133 | 177 | 127 | 155 |
| Working Capital Days | 160 | 182 | 116 | 149 |
| ROCE % | 10% | 12% | 13% |
Business Overview:[1]
STB FIBC Ltd is a part of Shree Tirupati Balajee (STB) Group. It is an ISO 22000-2005, 14001-2015 & 9001-2015 and B.R.C. certified manufacturer and exporter of FIBC and PP packaging products
Product Profile:
a) FIBCs / Big Bags:[2]
Type C Conductive bags, UN Certified bags,
Form Stable Baffle bags, Sift resistant bags,
Bags with specialty liners, Form fit liner Heat resistant liners for cement and fly ash packaging Single / Double loop bags, Tunnel lift bags Normal FIBC’s, Builder bags, Fertilizers bags etc.
b) Fabric:[3]
Woven Fabric, Un-Laminated PP/HDPE Woven Fabric, Laminated PP/HDPE Woven Fabric, Tarpaulins/Roll of Tarpaulin Fabric
c) Bags & Sacks:[4]
PP HDPE Bags & Sacs, Un-Laminated Woven Bags And Sacks, PP Bags/Sacks With Multicolour Printing
d) Container Liner:[5]
These are made of light weight woven polypropylene and a heavy duty woven polypropylene bulk heads. Used for dry flow able products such as powders, granules and food products