United Nilgiri Tea Estates Company Ltd
United Nilgiri Tea Estates Company Ltd is primarily engaged in growing and manufacture of Tea and letting out of its commercial property. Its tea is sold both in domestic and international markets.[1]
- Market Cap ₹ 134 Cr.
- Current Price ₹ 268
- High / Low ₹ 408 / 256
- Stock P/E 11.1
- Book Value ₹ 374
- Dividend Yield 1.01 %
- ROCE 8.29 %
- ROE 6.69 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 0.72 times its book value
- Debtor days have improved from 30.0 to 23.6 days.
Cons
- The company has delivered a poor sales growth of 6.30% over past five years.
- Company has a low return on equity of 6.34% over last 3 years.
- Earnings include an other income of Rs.4.92 Cr.
- Dividend payout has been low at 12.0% of profits over last 3 years
- Working capital days have increased from 96.0 days to 139 days
* 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: Plantation & Plantation Products Industry: Tea
Quarterly 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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
32 | 37 | 49 | 51 | 57 | 54 | 62 | 66 | 63 | 66 | 76 | 84 | |
27 | 29 | 38 | 39 | 42 | 42 | 49 | 52 | 50 | 56 | 65 | 70 | |
Operating Profit | 5 | 8 | 11 | 12 | 14 | 13 | 13 | 14 | 13 | 11 | 11 | 14 |
OPM % | 16% | 21% | 23% | 24% | 25% | 23% | 21% | 21% | 20% | 16% | 15% | 16% |
1 | 1 | 1 | 2 | 2 | 2 | 5 | 6 | 4 | 8 | 5 | 5 | |
Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation | 1 | 1 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 4 | 3 | 4 |
Profit before tax | 5 | 7 | 10 | 11 | 14 | 12 | 15 | 17 | 14 | 15 | 13 | 15 |
Tax % | 19% | 18% | 23% | 23% | 25% | 25% | 21% | 15% | 23% | 19% | 20% | 19% |
Net Profit | 4 | 6 | 8 | 9 | 10 | 9 | 12 | 14 | 11 | 12 | 10 | 12 |
EPS in Rs | 8.45 | 11.49 | 15.53 | 17.41 | 20.47 | 18.33 | 24.32 | 28.76 | 21.43 | 24.52 | 20.59 | 24.26 |
Dividend Payout % | 27% | 20% | 17% | 16% | 13% | 15% | 11% | 9% | 13% | 11% | 18% | 7% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 6% |
3 Years: | 10% |
TTM: | 11% |
Compounded Profit Growth | |
---|---|
10 Years: | 8% |
5 Years: | 0% |
3 Years: | 5% |
TTM: | 30% |
Stock Price CAGR | |
---|---|
10 Years: | 3% |
5 Years: | -6% |
3 Years: | 8% |
1 Year: | -23% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 7% |
3 Years: | 6% |
Last Year: | 7% |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | |
Reserves | 37 | 41 | 47 | 54 | 63 | 97 | 112 | 134 | 150 | 161 | 170 | 182 |
3 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
6 | 6 | 8 | 6 | 8 | 7 | 8 | 8 | 9 | 12 | 12 | 11 | |
Total Liabilities | 51 | 53 | 61 | 66 | 76 | 108 | 125 | 148 | 164 | 177 | 187 | 198 |
12 | 35 | 36 | 38 | 38 | 38 | 39 | 38 | 43 | 44 | 43 | 44 | |
CWIP | 19 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 3 |
Investments | 3 | 3 | 2 | 2 | 4 | 41 | 63 | 73 | 76 | 102 | 107 | 127 |
16 | 15 | 22 | 26 | 34 | 30 | 23 | 36 | 43 | 30 | 34 | 25 | |
Total Assets | 51 | 53 | 61 | 66 | 76 | 108 | 125 | 148 | 164 | 177 | 187 | 198 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
7 | 7 | 9 | 8 | 11 | 9 | 6 | 11 | 8 | 9 | 5 | 15 | |
-8 | -3 | -6 | -7 | -10 | -7 | -6 | -10 | -4 | -9 | -3 | -13 | |
-2 | -5 | -1 | -2 | -2 | -2 | -2 | -2 | -2 | -1 | -1 | -1 | |
Net Cash Flow | -3 | 0 | 2 | -0 | -1 | 1 | -2 | -1 | 3 | -2 | 1 | 0 |
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 | 33 | 22 | 39 | 35 | 36 | 14 | 32 | 25 | 42 | 27 | 40 | 24 |
Inventory Days | 118 | 113 | 79 | 128 | 112 | 148 | 151 | 164 | 199 | 247 | 201 | 107 |
Days Payable | 106 | 100 | 74 | 94 | 132 | 18 | 37 | 37 | 58 | 61 | 53 | 25 |
Cash Conversion Cycle | 45 | 35 | 44 | 69 | 16 | 144 | 145 | 152 | 183 | 213 | 188 | 105 |
Working Capital Days | 25 | 25 | 20 | 34 | 29 | 37 | 49 | 57 | 72 | 71 | 77 | 139 |
ROCE % | 12% | 16% | 20% | 19% | 21% | 14% | 14% | 12% | 9% | 9% | 7% | 8% |
Plantations Business (~94% of revenues)[1]
The company grows tea from its estates located in the Nilgiris, Tamil Nadu.[2] It has a total area of ~1,500[3] hectares out of which only 850 hectares is under cultivation.[4]