Zuari Industries Ltd

Zuari Industries Ltd

₹ 357 1.75%
24 Apr 2:34 p.m.
About

Zuari Global Ltd is the holding company of the well-established and diversified Adventz Group. The group comprises 23 companies in four industry verticals- Agriculture, Engineering & Infra, Lifestyle & Real Estate and Services. The Co.’s primary business activity is real estate, investment services, engineering services, management services, manufacturing and trading of furniture, manufacturing and sale of sugar and its by-products, ethanol and generation of power. [1][2][3]

Key Points

Business Model
The Co is a holding company and has a large portfolio of subsidiaries and associates and predominantly concentrates on investment in the group companies & is engaged in real estate development. On a standalone basis, it derives majority of its income from Interest on loans & advances given to its group companies & dividend income from the large portfolio of investments that it holds & also from its real estate project under development. [1]

  • Market Cap 1,063 Cr.
  • Current Price 357
  • High / Low 374 / 120
  • Stock P/E 9.15
  • Book Value 815
  • Dividend Yield 0.29 %
  • ROCE 4.64 %
  • ROE 0.68 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.43 times its book value
  • Market value of investments Rs.1,797 Cr. is more than the Market Cap Rs.1,054 Cr.

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 1.12% over last 3 years.
  • Contingent liabilities of Rs.413 Cr.
  • Earnings include an other income of Rs.190 Cr.
  • Dividend payout has been low at 14.6% of profits 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

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
2 254 5 142 114 190 218 155 166 273 164 214 100
1 194 6 150 111 154 215 156 167 212 156 217 104
Operating Profit 0 60 -0 -8 2 36 3 -1 -1 62 8 -3 -4
OPM % 13% 23% -6% -6% 2% 19% 1% -1% -1% 23% 5% -2% -4%
46 53 52 58 27 69 26 40 22 55 82 41 12
Interest 23 45 50 40 40 44 39 39 39 39 37 36 33
Depreciation 0 6 0 7 7 3 6 6 7 5 6 6 6
Profit before tax 22 60 1 4 -17 57 -16 -6 -26 72 47 -4 -31
Tax % 23% 3% -384% -18% 24% 21% 22% 14% 23% 23% -7% 23% -0%
17 59 7 5 -13 45 -12 -5 -20 56 50 -3 -31
EPS in Rs 5.89 19.98 2.31 1.55 -4.49 15.35 -4.18 -1.65 -6.71 18.70 16.81 -1.01 -10.44
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
1,244 99 170 39 0 0 17 2 57 776 610 812 751
1,215 111 170 35 9 10 20 10 48 684 595 749 689
Operating Profit 29 -12 0 5 -9 -10 -3 -7 9 93 16 63 62
OPM % 2% -12% 0% 12% -21% -291% 16% 12% 3% 8% 8%
58 46 58 41 43 34 24 48 52 144 211 143 190
Interest 18 1 2 11 0 0 1 8 44 161 196 158 145
Depreciation 6 0 0 0 0 0 0 0 0 26 24 24 23
Profit before tax 62 33 56 34 34 24 20 33 17 50 7 25 84
Tax % 23% 19% 53% 21% 14% 14% 11% -23% 26% -38% -112% 26%
48 27 26 27 29 20 18 40 13 69 15 18 72
EPS in Rs 16.18 9.17 8.89 9.11 10.00 6.97 6.11 13.70 4.39 23.62 5.20 6.17 24.06
Dividend Payout % 12% 22% 11% 11% 10% 14% 16% 7% 23% 8% 19% 16%
Compounded Sales Growth
10 Years: 23%
5 Years: 118%
3 Years: 142%
TTM: 3%
Compounded Profit Growth
10 Years: 4%
5 Years: 0%
3 Years: -23%
TTM: 654%
Stock Price CAGR
10 Years: 16%
5 Years: 27%
3 Years: 64%
1 Year: 179%
Return on Equity
10 Years: 2%
5 Years: 2%
3 Years: 1%
Last Year: 1%

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 29 29 29 29 29 29 29 29 29 29 29 30 30
Reserves 548 568 591 614 986 1,419 2,035 1,811 1,281 2,154 3,083 2,198 2,397
0 0 110 80 80 0 25 118 456 1,391 1,293 1,225 1,025
81 130 145 142 126 53 84 104 98 482 502 351 242
Total Liabilities 658 728 875 866 1,221 1,502 2,173 2,062 1,865 4,056 4,908 3,803 3,694
12 13 13 14 2 4 4 4 4 519 501 494 484
CWIP 0 0 0 0 0 0 0 0 0 2 7 1 2
Investments 414 503 435 435 819 1,165 1,779 1,562 990 1,857 2,994 2,043 2,231
232 211 427 417 400 333 390 497 872 1,678 1,405 1,266 977
Total Assets 658 728 875 866 1,221 1,502 2,173 2,062 1,865 4,056 4,908 3,803 3,694

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
-267 14 -127 -84 -13 13 -7 27 14 148 42 52
-3 -9 31 127 23 84 -7 -116 -307 -169 270 191
32 -8 92 -46 -12 -94 20 82 294 24 -305 -242
Net Cash Flow -238 -2 -4 -3 -3 3 6 -8 1 3 7 1

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 8 103 101 2 7 7 11 22 13 32
Inventory Days 14 57 455 2,842 407 510 291
Days Payable 3 60 254 13 199 238 120
Cash Conversion Cycle 18 100 302 2,831 7 7 11 229 285 202
Working Capital Days 18 54 327 2,103 6,201 46,142 1,696 169 205 287
ROCE % 6% 3% 4% 6% 4% 2% 1% 2% 5% 8% 4% 5%

Shareholding Pattern

Numbers in percentages

6 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
56.90% 56.90% 56.95% 56.95% 56.81% 56.81% 56.81% 56.81% 56.81% 56.81% 56.81% 56.81%
1.24% 1.27% 1.35% 1.39% 1.20% 1.41% 1.31% 1.30% 1.30% 1.36% 1.49% 1.55%
3.75% 1.29% 0.24% 0.20% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.26%
0.00% 0.00% 0.00% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
38.11% 40.55% 41.46% 41.42% 41.94% 41.73% 41.84% 41.85% 41.86% 41.78% 41.67% 41.35%
No. of Shareholders 25,38624,36923,84928,67329,02928,33628,14327,94027,69827,48726,41727,248

* 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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