BSE: 500370 | NSE: SALORAINTL | Consumer Durables - Electronics | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Salora International Ltd is a below average quality company.
The key valuation ratios of Salora International Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Salora International Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 3.8% | 3.1% | 3.2% | -5.5% | 3.2% | -4.3% | -8.1% | 31.4% | -13.4% | -1.7% | - |
| Value Creation Index ⓘ | -0.7 | -0.8 | -0.8 | -1.4 | -0.8 | -1.3 | -1.6 | 1.2 | -2.0 | -1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 295 | 313 | 322 | 128 | 176 | 169 | 87.8 | 70.1 | 116 | 159 | 136 |
| Sales YoY Gr. | - | 5.9% | 2.9% | -60.3% | 37.8% | -4% | -48% | -20.2% | 65.6% | 37.1% | - |
| Adj EPS ⓘ | 0.2 | -1.3 | -4.2 | -11.4 | -5.5 | -15.2 | -8.6 | -15.5 | -11.3 | -2.7 | -1.7 |
| YoY Gr. | - | -725% | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 129.1 | 128.1 | 94.7 | 83.3 | 77.7 | 62.4 | 49.4 | 76.7 | 66.4 | 64 | 63.1 |
| Adj Net Profit ⓘ | 0.2 | -1.1 | -3.7 | -10.1 | -4.9 | -13.4 | -7.6 | -13.6 | -9.9 | -2.4 | -1 |
| Cash Flow from Ops. ⓘ | 4.7 | 11.9 | -11.2 | 4.4 | -2.8 | 4.2 | -3.2 | 4.4 | -10.3 | 4 | - |
| Debt/CF from Ops. ⓘ | 9.3 | 3.2 | -4.9 | 12.8 | -23.9 | 15.7 | -21.7 | 3.9 | -1.8 | 4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -6.6% | -2% | 21.9% | 37.1% | ||||
| Adj EPS ⓘ | -233.6% | NA | NA | NA | ||||
| BVPSⓘ | -7.5% | -3.8% | 9% | -3.6% | ||||
| Share Price | 8.2% | 43.8% | 13.6% | 32.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0.2 | -1 | -3.7 | -12.8 | -6.9 | -21.7 | -15.4 | -24.6 | -15.8 | -4.2 | -2.6 |
| Op. Profit Mgn % ⓘ | 2.8 | 2.2 | 1.2 | -5.2 | 0.8 | -2.1 | -4.5 | -37.2 | -5.8 | -1.1 | -0.7 |
| Net Profit Mgn % ⓘ | 0.1 | -0.4 | -1.1 | -7.9 | -2.8 | -7.9 | -8.6 | -19.5 | -8.6 | -1.5 | -1.1 |
| Debt to Equity ⓘ | 0.4 | 0.3 | 0.7 | 0.8 | 1 | 1.2 | 1.6 | 0.3 | 0.3 | 0.3 | 0 |
| Working Cap Days ⓘ | 177 | 177 | 159 | 318 | 244 | 262 | 450 | 480 | 215 | 131 | 48 |
| Cash Conv. Cycle ⓘ | 113 | 97 | 80 | 186 | 122 | 117 | 204 | 201 | 88 | 53 | 8 |
Sales growth is growing at healthy rate in last 3 years 21.93%
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at 5.12%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -1.7 | -5.8 |
| TTM Sales (₹ Cr.) | 136 | 176 |
| BVPS (₹.) ⓘ | 63.1 | 0 |
| Reserves (₹ Cr.) ⓘ | 47 | 57 |
| P/BV ⓘ | 1.09 | 0.00 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 47.25 / 84.95 |
| All Time Low / High (₹) | 4.00 / 540.00 |
| Market Cap (₹ Cr.) | 60.7 |
| Equity (₹ Cr.) | 8.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 158.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 295.10 | 312.50 | 321.65 | 127.58 | 175.83 | 168.79 | 87.78 | 70.07 | 116.06 | 159.12 |
| Operating Expenses ⓘ | 286.73 | 305.77 | 317.77 | 134.16 | 174.59 | 172.61 | 91.73 | 96.19 | 122.84 | 160.86 |
| Manufacturing Costs | 2.23 | 2.32 | 2.26 | 1.79 | 1.59 | 1.47 | 0.34 | 0.31 | 0.44 | 0.17 |
| Material Costs | 260.66 | 280.10 | 292.69 | 112.39 | 162.22 | 162.06 | 84.77 | 71.34 | 113 | 152.91 |
| Employee Cost | 8.97 | 9.06 | 9.42 | 8.79 | 5.01 | 4.22 | 3.16 | 3.41 | 2.35 | 3.12 |
| Other Costs ⓘ | 14.88 | 14.29 | 13.40 | 11.18 | 5.77 | 4.86 | 3.47 | 21.14 | 7.05 | 4.66 |
| Operating Profit ⓘ | 8.37 | 6.74 | 3.89 | -6.57 | 1.24 | -3.82 | -3.96 | -26.12 | -6.78 | -1.74 |
| Operating Profit Margin (%) | 2.8% | 2.2% | 1.2% | -5.2% | 0.7% | -2.3% | -4.5% | -37.3% | -5.8% | -1.1% |
| Other Income ⓘ | 0.93 | 0.60 | 2.89 | 1.27 | 4.89 | 0.37 | 0.83 | 17.61 | 3.86 | 0.67 |
| Interest ⓘ | 5.64 | 6.25 | 6.97 | 6.82 | 7.43 | 7.45 | 6.13 | 3.15 | 1.06 | 1.49 |
| Depreciation ⓘ | 3.26 | 2.51 | 2.20 | 2.11 | 1.95 | 2 | 0.63 | 0.44 | 0.20 | 0.21 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -5.67 | 39.82 | -7.67 | 0 |
| Profit Before Tax ⓘ | 0.39 | -1.42 | -2.39 | -14.23 | -3.25 | -12.91 | -15.55 | 27.72 | -11.84 | -2.77 |
| Tax ⓘ | 0.04 | -0.55 | -0.64 | -4.18 | 1.63 | 0.63 | -4.14 | 3.68 | -2.88 | -0.68 |
| Profit After Tax | 0.36 | -0.87 | -1.75 | -10.05 | -4.88 | -13.54 | -11.41 | 24.05 | -8.97 | -2.09 |
| PAT Margin (%) | 0.1% | -0.3% | -0.5% | -7.9% | -2.8% | -8.0% | -13.0% | 34.3% | -7.7% | -1.3% |
| Adjusted EPS (₹) | 0.4 | -1.0 | -2.0 | -11.4 | -5.5 | -15.4 | -13.0 | 27.3 | -10.2 | -2.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 113.69 | 112.82 | 83.44 | 73.40 | 68.45 | 54.95 | 43.52 | 67.53 | 58.49 | 56.40 |
| Share Capital ⓘ | 8.81 | 8.81 | 8.81 | 8.81 | 8.81 | 8.81 | 8.81 | 8.81 | 8.81 | 8.81 |
| Reserves ⓘ | 104.88 | 104.01 | 74.62 | 64.58 | 59.64 | 46.13 | 34.70 | 58.72 | 49.67 | 47.59 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 43.59 | 37.92 | 54.31 | 56.29 | 65.41 | 65.03 | 64.59 | 14.14 | 15.60 | 14.34 |
| Long Term Debt | 5.64 | 5.58 | 6.53 | 7.24 | 13.94 | 12.82 | 21.88 | 4.04 | 1.54 | 0.25 |
| Short Term Debt | 37.95 | 32.34 | 47.77 | 49.06 | 51.47 | 52.21 | 42.71 | 10.09 | 14.06 | 14.09 |
| Trade Payables | 14.53 | 39.87 | 24.20 | 14.09 | 39.13 | 20.79 | 22.59 | 10.68 | 3.98 | 2.76 |
| Others Liabilities ⓘ | 6.87 | 3.34 | -10.95 | -15.21 | -13.89 | -11.20 | -14.83 | -12.40 | -16.67 | -17.02 |
| Total Liabilities ⓘ | 178.69 | 193.96 | 151 | 128.57 | 159.10 | 129.57 | 115.86 | 79.95 | 61.40 | 56.48 |
Fixed Assets | ||||||||||
| Gross Block | 92.28 | 92.03 | 91.13 | 90.19 | 85.68 | 80.04 | 45.91 | 4.51 | 4.64 | 4.58 |
| Accumulated Depreciation | 63.31 | 64.37 | 65.91 | 66.65 | 64.10 | 59.68 | 38.01 | 3.20 | 3.39 | 3.28 |
| Net Fixed Assetsⓘ | 28.97 | 27.66 | 25.21 | 23.53 | 21.58 | 20.36 | 7.90 | 1.31 | 1.25 | 1.30 |
| CWIP ⓘ | 0 | 0 | 0.02 | 0.03 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 3.46 | 3.46 | 3.46 | 3.46 | 3.46 | 0.04 | 0.04 | 0 | 0 | 0 |
| Inventories | 38.75 | 47.54 | 50.15 | 56.61 | 54.46 | 49.12 | 48.01 | 33.08 | 21.56 | 17.56 |
| Trade Receivables | 71.94 | 64.86 | 45.07 | 16.08 | 43.70 | 22.05 | 21.86 | 7.43 | 8.34 | 5.65 |
| Cash Equivalents | 2.14 | 2.16 | 0.59 | 0.30 | 0.20 | 0.50 | 0.33 | 1.78 | 0.34 | 0.37 |
| Others Assetsⓘ | 33.44 | 48.28 | 26.49 | 28.56 | 35.70 | 37.50 | 37.72 | 36.35 | 29.91 | 31.60 |
| Total Assets ⓘ | 178.69 | 193.96 | 151 | 128.57 | 159.10 | 129.57 | 115.86 | 79.95 | 61.40 | 56.48 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 4.74 | 11.91 | -11.21 | 4.43 | -2.75 | 4.15 | -3.15 | 4.39 | -10.30 | 4 |
| PBT ⓘ | 0.39 | -1.42 | -2.39 | -14.23 | -3.25 | -12.91 | -15.55 | 27.72 | -11.84 | -2.77 |
| Adjustment ⓘ | 7.90 | 7.92 | 9.31 | 12.22 | 3.93 | 8.65 | 12.40 | -33.80 | 9.02 | 0.80 |
| Changes in Working Capital ⓘ | -3.82 | 5.56 | -18 | 6.49 | -3.42 | 8.43 | -0.01 | 10.64 | -6.75 | 6.07 |
| Tax Paid ⓘ | 0.26 | -0.15 | -0.13 | -0.04 | 0 | -0.02 | 0 | -0.17 | -0.73 | -0.10 |
| Cash Flow From Investing Activity ⓘ | -0.50 | -1.19 | -0.22 | -0.36 | -0.01 | 2.55 | 5.63 | 51.82 | 9 | -0.17 |
| Capex | -0.59 | -1.19 | -0.32 | -0.45 | -0.08 | -0.60 | 5.42 | 55.99 | 8.58 | -0.24 |
| Net Investments | 0.10 | 0 | 0 | 0 | -0.03 | 3.41 | 0 | 0.04 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0.10 | 0.09 | 0.10 | -0.26 | 0.21 | -4.22 | 0.42 | 0.07 |
| Cash Flow From Financing Activityⓘ | -5.29 | -10.42 | 11.29 | -4.11 | 2.63 | -6.71 | -2.46 | -54.83 | -0.12 | -3.82 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | -0.29 | -0.45 | -0.32 | 0 | 0 | -18.74 | -3.02 | -2.36 |
| Interest Paid ⓘ | -4.95 | -5.38 | -6.47 | -6.19 | -6.34 | -6.87 | -5.93 | -2.69 | -1.55 | -0.87 |
| Dividend Paid ⓘ | -0.03 | -0.03 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -0.30 | -5.02 | 18.05 | 2.53 | 9.29 | 0.16 | 3.47 | -33.40 | 4.45 | -0.59 |
| Net Cash Flow ⓘ | -1.05 | 0.29 | -0.14 | -0.03 | -0.13 | 0 | 0.02 | 1.38 | -1.42 | 0.01 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.31 | -0.77 | -1.79 | -12.81 | -6.88 | -21.95 | -23.18 | 43.31 | -14.24 | -3.63 |
| ROCE (%) | 3.82 | 3.13 | 3.17 | -5.53 | 3.17 | -4.3 | -8.12 | 31.37 | -13.36 | -1.71 |
| Asset Turnover Ratio | 1.65 | 1.69 | 1.88 | 0.92 | 1.22 | 1.17 | 0.72 | 0.72 | 1.64 | 2.7 |
| PAT to CFO Conversion(x) | 13.17 | N/A | N/A | N/A | N/A | N/A | N/A | 0.18 | N/A | N/A | Working Capital Days |
| Receivable Days | 88 | 79 | 62 | 87 | 62 | 71 | 91 | 76 | 25 | 16 |
| Inventory Days | 47 | 50 | 55 | 152 | 115 | 112 | 202 | 211 | 86 | 45 |
| Payable Days | 25 | 35 | 40 | 62 | 60 | 67 | 93 | 85 | 24 | 8 |
Salora International Ltd.was incorporated on November 20, 1968 as Electronic Consortium Pvt. Ltd. subsequently the company became deemed Public Company with effect from June 16, 1988. The company was originally promoted by Gyan Prakash Bhutani and associates. The Jiwarajka family the present promoters and owners of the company are managing the company since 1977. The company again changed its name to Salora International Ltd. on March 31,1992
Salora International today has emerged as a diversified entity with interests in sourcing and procurement, manufacturing, supply chain management, distribution, marketing, retail and after-sales service. Over three decades of enriched experience in electronics helps they serve in diverse realms like Consumer Electronics, Telecom, Information Technology and Lifestyle.
Salora has a pan-India presence with 30 offices and 300 after-sales service centers to meet and exceed our customers’ expectations in telecom and consumer electronics. They are the global service partners for Sony Ericsson. Their manufacturing facilities are located at the company’s sprawling complex in Noida.
Salora is a listed entity on the Bombay Stock Exchange and National Stock Exchange.
Product range of the company includes:
Achievements/ recognition:
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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