Vishwaraj Sugar Industries Ltd

₹ 16.8 4.04%
31 Jan - close price
About

Vishwaraj Sugar Industries Ltd is engaged in the production of sugar, alcoholic spirits by distillation including ethanol, vinegar and generation of power. [1]

Key Points

Journey
The co. commenced operations of manufacturing Distillery products in 2001. In 2006, the co. implemented backward integration and began commercial operations for Sugar manufacture from sugarcane, along with Co-Generation capabilities. In 2008, co. began bottling Indian Made Liquor and it is discontinued in 2020. [1]

  • Market Cap 315 Cr.
  • Current Price 16.8
  • High / Low 25.0 / 15.0
  • Stock P/E 6.09
  • Book Value 14.3
  • Dividend Yield 1.19 %
  • ROCE 12.7 %
  • ROE 23.7 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Stock is trading at 1.17 times its book value
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 58.1% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 17.2%

Cons

  • Promoter holding is low: 33.7%
  • Tax rate seems low
  • Company has a low return on equity of 8.72% 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: Sugar Industry: Sugar

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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
71.26 101.72 109.39 112.00 69.99 82.75 161.73 102.03 102.55 133.28 130.89 216.67 99.15
72.90 75.29 92.12 113.23 69.71 39.32 142.19 98.77 91.09 89.60 95.83 211.36 100.17
Operating Profit -1.64 26.43 17.27 -1.23 0.28 43.43 19.54 3.26 11.46 43.68 35.06 5.31 -1.02
OPM % -2.30% 25.98% 15.79% -1.10% 0.40% 52.48% 12.08% 3.20% 11.18% 32.77% 26.79% 2.45% -1.03%
0.07 0.02 1.27 0.02 0.01 0.04 0.55 0.09 0.17 0.89 0.37 0.57 0.49
Interest 10.11 11.35 10.71 9.35 8.57 8.63 9.10 8.10 7.80 7.11 9.27 8.26 6.13
Depreciation 3.22 3.47 3.44 3.61 3.55 3.53 3.50 3.69 3.63 3.66 3.65 3.88 3.86
Profit before tax -14.90 11.63 4.39 -14.17 -11.83 31.31 7.49 -8.44 0.20 33.80 22.51 -6.26 -10.52
Tax % 0.00% 0.00% -197.27% 0.00% 0.00% 2.68% 52.47% 0.00% 0.00% 12.90% -57.66% 0.00% 32.98%
Net Profit -14.89 11.63 13.05 -14.17 -11.83 30.46 3.55 -8.45 0.19 29.44 35.49 -6.26 -7.04
EPS in Rs -0.86 0.62 0.69 -0.75 -0.63 1.62 0.19 -0.45 0.01 1.57 1.89 -0.33 -0.37
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
116 280 361 276 335 284 222 285 362 425 467 580
113 290 349 256 305 238 198 259 323 363 374 497
Operating Profit 3 -9 12 19 31 46 24 26 38 62 93 83
OPM % 2% -3% 3% 7% 9% 16% 11% 9% 11% 15% 20% 14%
36 56 80 9 9 1 10 0 1 0 2 2
Interest 9 18 28 18 21 25 21 36 42 36 32 31
Depreciation 5 8 11 10 11 12 13 13 15 15 16 15
Profit before tax 25 21 54 0 7 10 -1 -24 -17 12 47 40
Tax % 10% 15% 20% 1,559% 37% 42% -395% 26% 52% 32% -28%
Net Profit 23 18 43 -3 4 6 -4 -18 -8 8 60 52
EPS in Rs 132.47 105.59 2.49 -0.19 0.26 0.35 -0.25 -1.02 -0.42 0.44 3.20 2.76
Dividend Payout % 0% 0% 0% 0% 78% 0% 0% 0% 0% 45% 6%
Compounded Sales Growth
10 Years: %
5 Years: 10%
3 Years: 18%
TTM: 29%
Compounded Profit Growth
10 Years: %
5 Years: 58%
3 Years: 77%
TTM: 101%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 2%
1 Year: -31%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 9%
Last Year: 24%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
34 34 35 35 35 35 35 35 38 38 38 38
Reserves 49 67 120 201 201 198 194 177 184 188 245 232
135 201 168 159 172 238 315 339 347 376 370 240
58 94 99 231 203 72 81 169 103 110 117 26
Total Liabilities 277 396 422 625 610 543 624 720 672 712 770 536
163 194 192 246 244 241 272 264 288 282 300 300
CWIP 0 0 0 5 1 38 0 11 0 0 0 0
Investments 0 0 0 0 0 0 1 1 1 1 1 1
114 202 230 374 365 264 352 443 382 429 469 235
Total Assets 277 396 422 625 610 543 624 720 672 712 770 536

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
31 55 62 -55 25 49 56 35
-50 -6 -45 -6 -18 -27 -9 -33
28 -18 -55 56 -12 -16 -6 -38
Net Cash Flow 9 31 -39 -5 -6 6 41 -36

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 44 20 10 16 19 57 56 49 26 26 25
Inventory Days 333 448 337 348 689 580 387 339 449
Days Payable 7 5 6 27 71 202 83 79 115
Cash Conversion Cycle 44 20 336 458 351 377 674 428 330 286 360
Working Capital Days 404 344 130 195 233 228 435 333 255 232 252
ROCE % 15% 26% 7% 8% 4% 2% 4% 8% 13%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
32.83 32.83 32.83 32.83 32.83 32.83 32.83 31.92 33.69 33.69 33.70 33.70
2.66 2.66 2.66 2.66 2.71 2.66 2.66 2.66 1.20 0.46 0.25 0.08
0.00 0.00 0.00 0.00 0.00 0.00 0.96 0.96 0.39 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00
64.51 64.51 64.51 64.51 64.46 64.51 63.55 64.46 64.71 65.85 66.06 66.22

* 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.

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