Zuari Industries Ltd

₹ 350 -0.58%

18 Apr 4:01 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]

Website BSE NSE

Market Cap ₹ 1,040 Cr.
Current Price ₹ 350
High / Low ₹ 374 / 120
Stock P/E 117
Book Value ₹ 861
Dividend Yield 0.28 %
ROCE 10.7 %
ROE 11.4 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.41 times its book value
Company has delivered good profit growth of 63.4% CAGR over last 5 years
Market value of investments Rs.1,627 Cr. is more than the Market Cap Rs.1,040 Cr.

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 11.7% over past five years.
Company has a low return on equity of 2.25% over last 3 years.
Earnings include an other income of Rs.1,182 Cr.

* 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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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	168	285	173	167	126	256	234	187	252	282	191	269	116
	162	238	193	178	147	215	234	210	258	233	243	282	133
Operating Profit	6	47	-20	-11	-22	41	-0	-23	-6	49	-52	-13	-17
OPM %	3%	17%	-11%	-7%	-17%	16%	-0%	-12%	-2%	17%	-27%	-5%	-15%
	40	38	58	88	29	80	318	59	52	142	82	60	898
Interest	53	54	84	54	53	73	60	61	62	67	69	74	72
Depreciation	7	7	7	6	7	3	7	7	8	6	7	7	7
Profit before tax	-14	24	-52	16	-53	45	251	-32	-23	118	-46	-34	802
Tax %	-29%	23%	29%	-2%	8%	22%	-1%	-41%	83%	14%	-7%	2%	9%
	-18	18	-37	17	-48	35	253	-45	-4	101	-49	-33	728
EPS in Rs	-5.42	10.02	-8.90	7.75	-16.36	12.14	84.97	-14.92	-1.26	33.99	-16.20	-11.00	244.52
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	1,877	398	642	520	553	603	550	774	771	834	722	955	858
	1,872	407	640	518	568	575	556	905	1,031	843	710	927	891
Operating Profit	5	-9	2	2	-15	29	-6	-131	-260	-9	12	28	-34
OPM %	0%	-2%	0%	0%	-3%	5%	-1%	-17%	-34%	-1%	2%	3%	-4%
	-201	35	60	21	3	32	107	100	121	127	230	562	1,182
Interest	33	7	11	34	39	66	119	113	160	202	264	248	282
Depreciation	16	9	8	8	8	15	20	21	25	29	23	27	27
Profit before tax	-245	9	43	-19	-60	-20	-38	-165	-325	-113	-45	314	841
Tax %	-9%	96%	77%	-57%	36%	-1%	-9%	11%	-22%	13%	22%	3%
	-220	11	-1	-26	-38	-20	-41	-148	-396	-98	-35	305	747
EPS in Rs	-74.11	5.39	-0.41	-8.93	-14.96	-8.80	-10.56	-43.68	-124.81	-29.20	-12.19	102.85	251.31
Dividend Payout %	-3%	37%	-245%	-11%	-7%	-11%	-9%	-2%	-1%	-7%	-8%	1%

Compounded Sales Growth
10 Years:	9%
5 Years:	12%
3 Years:	7%
TTM:	-8%

Compounded Profit Growth
10 Years:	63%
5 Years:	63%
3 Years:	41%
TTM:	-96%

Stock Price CAGR
10 Years:	16%
5 Years:	26%
3 Years:	66%
1 Year:	185%

Return on Equity
10 Years:	-3%
5 Years:	-3%
3 Years:	2%
Last Year:	11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	663	672	679	649	1,760	1,880	2,378	2,152	1,137	1,849	2,885	2,306	2,533
Preference Capital	0	0	0	0	0	0	103	117	134	158	174	195
	51	71	228	623	760	866	1,050	1,354	1,806	2,131	2,338	2,496	2,349
	242	336	400	556	442	459	727	890	964	898	990	975	911
Total Liabilities	985	1,108	1,336	1,858	2,991	3,235	4,184	4,426	3,937	4,907	6,243	5,807	5,823
	78	84	79	252	370	539	550	544	698	665	654	645	634
CWIP	19	28	11	169	142	12	8	71	3	2	7	1	3
Investments	503	566	470	375	1,433	1,600	2,211	2,023	1,132	1,877	3,180	2,586	3,444
	386	430	776	1,063	1,046	1,084	1,415	1,788	2,104	2,364	2,401	2,575	1,742
Total Assets	985	1,108	1,336	1,858	2,991	3,235	4,184	4,426	3,937	4,907	6,243	5,807	5,823

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-258	-3	-158	-288	-12	109	-125	-45	126	109	62	269
	-172	8	13	41	-45	-5	-97	-114	-360	-204	69	-159
	-133	8	136	238	66	-98	214	160	232	90	-87	-89
Net Cash Flow	-562	13	-10	-8	9	5	-9	2	-2	-5	44	22

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	14	81	75	69	62	56	86	49	51	40	37	31
Inventory Days	43	291	455	1,432	896	831	1,809	1,840	1,215	864	1,031	629
Days Payable	23	168	350	580	295	383	825	626	465	260	283	142
Cash Conversion Cycle	34	204	180	922	663	505	1,071	1,263	800	644	785	518
Working Capital Days	5	-37	117	269	205	218	351	307	255	347	448	396
ROCE %	5%	-0%	3%	3%	-1%	2%	3%	-2%	-5%	3%	4%	11%

Shareholding Pattern

Numbers in percentages

6 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 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	25,386	24,369	23,849	28,673	29,029	28,336	28,143	27,940	27,698	27,487	26,417	27,248

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	56.31%	56.31%	54.83%	54.83%	55.61%	56.95%	56.81%	56.81%
	0.00%	0.25%	0.74%	1.21%	1.21%	1.39%	1.30%	1.55%
	13.48%	14.21%	11.58%	10.66%	7.82%	0.20%	0.01%	0.26%
	0.00%	0.00%	0.00%	0.00%	0.03%	0.04%	0.04%	0.04%
	30.21%	29.23%	32.85%	33.29%	35.32%	41.42%	41.85%	41.35%
No. of Shareholders	32,928	22,665	22,444	22,790	25,627	28,673	27,940	27,248

* 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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Zuari Industries Ltd

Zuari Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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