Stocks - Q : Quality | V : Valuation | PT : Price Trend
Funds - P : Performance | Q : Quality
Funds - P : Performance | Q : Quality
BSE: 503722 | NSE: BANSWRAS | Textile - Manmade Fibres | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Banswara Syntex Ltd is a average quality company.
The key valuation ratios of Banswara Syntex 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 Semi Strong which suggest that the price of Banswara Syntex Ltd is likely to Rise-somewhat 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.
Value Creation Index Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 10.8% | 13.7% | 10.8% | 8.6% | 9.7% | 14.9% | 7.8% | 15.6% | 22.3% | 8.7% | - |
| Value Creation Index ⓘ | -0.2 | 0.0 | -0.2 | -0.4 | -0.3 | 0.1 | -0.4 | 0.1 | 0.6 | -0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,226 | 1,265 | 1,244 | 1,292 | 1,351 | 1,290 | 787 | 1,190 | 1,499 | 1,264 | 1,296 |
| Sales YoY Gr. | - | 3.1% | -1.6% | 3.8% | 4.6% | -4.6% | -39% | 51.3% | 26% | -15.7% | - |
| Adj EPS ⓘ | 0.2 | 6.9 | 4.1 | -0.1 | 6.2 | 14.1 | 1.8 | 11.3 | 30.8 | 8.7 | 7.2 |
| YoY Gr. | - | 3200% | -41.1% | -102% | NA | 126.5% | -87% | 518.6% | 172.4% | -71.8% | - |
| BVPS (₹) ⓘ | 67.9 | 73.6 | 76.6 | 78.7 | 86 | 99.9 | 104.4 | 116.9 | 148.7 | 156.2 | 160.1 |
| Adj Net Profit ⓘ | 0.7 | 23.5 | 14 | -0.3 | 21.3 | 48.2 | 6.3 | 38.7 | 106 | 29.8 | 25 |
| Cash Flow from Ops. ⓘ | 179 | 174 | 140 | 106 | 137 | 205 | 132 | 54.2 | 20.1 | 145 | - |
| Debt/CF from Ops. ⓘ | 3.5 | 3.2 | 4 | 5.1 | 3.4 | 1.6 | 1.7 | 4.8 | 18.4 | 2.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 0.3% | -1.3% | 17.1% | -15.7% | ||||
| Adj EPS ⓘ | 51.3% | 7% | 68.2% | -71.8% | ||||
| BVPSⓘ | 9.7% | 12.7% | 14.4% | 5% | ||||
| Share Price | 12.5% | 28.8% | -0.9% | -16.7% | ||||
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 % ⓘ | 0.3 | 9.9 | 5.5 | -0.1 | 7.6 | 15.2 | 1.8 | 10.2 | 23.2 | 5.7 | 4.5 |
| Op. Profit Mgn % ⓘ | 11.2 | 12.7 | 10.7 | 8.6 | 8.9 | 11.2 | 9.6 | 9.9 | 13.2 | 8.1 | 7.7 |
| Net Profit Mgn % ⓘ | 0.1 | 1.9 | 1.1 | -0 | 1.6 | 3.7 | 0.8 | 3.3 | 7 | 2.4 | 1.9 |
| Debt to Equity ⓘ | 2.8 | 2.3 | 2.1 | 2 | 1.6 | 0.9 | 0.6 | 0.7 | 0.7 | 0.7 | - |
| Working Cap Days ⓘ | 162 | 155 | 159 | 165 | 158 | 150 | 213 | 143 | 139 | 176 | 79 |
| Cash Conv. Cycle ⓘ | 111 | 98 | 93 | 91 | 83 | 80 | 109 | 75 | 87 | 118 | 28 |
Sales growth is growing at healthy rate in last 3 years 17.13%
Net Profit is growing at healthy rate in last 3 years 68.21%
Debt to equity has declined versus last 3 years average to 0.66
Return on Equity has declined versus last 3 years average to 4.50%
Sales growth is not so good in last 4 quarters at 0.77%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 7.2 | 7.2 |
| TTM Sales (₹ Cr.) | 1,296 | 1,296 |
| BVPS (₹.) ⓘ | 160.1 | 160 |
| Reserves (₹ Cr.) ⓘ | 531 | 531 |
| P/BV ⓘ | 0.80 | 0.80 |
| PE ⓘ | 17.81 | 17.68 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 110.25 / 182.35 |
| All Time Low / High (₹) | 0.33 / 188.50 |
| Market Cap (₹ Cr.) | 438 |
| Equity (₹ Cr.) | 17.1 |
| Face Value (₹) | 5 |
| Industry PE ⓘ | 18 |
| Mar'24 | YoY Gr. Rt. % | Jun'24 | YoY Gr. Rt. % | Sep'24 | YoY Gr. Rt. % | Dec'24 | YoY Gr. Rt. % | |
|---|---|---|---|---|---|---|---|---|
| Sales (₹ Cr.)ⓘ | 343 | -6.9 | 271 | -10.5 | 343 | 8.4 | 339 | 12 |
| Adj EPS (₹) ⓘ | 2.4 | -70.1 | 0.3 | -89.7 | 1.5 | -41.4 | 3 | 18.8 |
| Op. Profit Mgn % ⓘ | 6.43 | -731 bps | 6.29 | -257 bps | 7.55 | -125 bps | 10.06 | 147 bps |
| Net Profit Mgn % ⓘ | 2.42 | -512 bps | 0.36 | -282 bps | 1.49 | -128 bps | 3.00 | 17 bps |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Company Name | CMP(₹) | |||||||
|---|---|---|---|---|---|---|---|---|
| Indo Rama Synth | 34.4 | 0 (0%) | Small Cap | 3,707 | -1.7 | -3.7 | - | 2.2 |
| Banswara Syntex | 127.9 | 1.1 (0.8%) | Small Cap | 1,264 | 7.2 | 2.4 | 17.8 | 0.8 |
| Ganesha Ecosphere | 1,497.6 | -63.9 (-4.1%) | Small Cap | 975 | 32.1 | 6.3 | 46.6 | 3.3 |
| Raj Rayon Industries | 21.4 | 0 (0%) | Small Cap | 745 | 0 | 0.2 | - | 11.8 |
| Pasupati Acrylon | 50 | -0.8 (-1.5%) | Small Cap | 575 | 4.1 | 1.9 | 12.2 | 1.3 |
| Sarla Perform. Fiber | 83.7 | 4.2 (5.3%) | Small Cap | 382 | 6.6 | 9.1 | 12.7 | 1.4 |
| Blue Chip Tex Inds. | 136 | -4.4 (-3.1%) | Small Cap | 256 | -9.8 | 0.2 | - | 1 |
| Kamadgiri Fashion | 84.9 | 0 (0%) | Small Cap | 218 | 6.3 | -2.2 | 13.5 | 1.4 |
| AK Spintex | 946.5 | -19.3 (-2%) | Small Cap | 116 | 13.2 | 6.3 | 71.6 | 10.9 |
| Supertex Industries | 8.2 | 0.3 (3.7%) | Small Cap | 90.5 | 0.7 | 0.1 | 12.5 | 0.3 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,226 | 1,265 | 1,244 | 1,292 | 1,351 | 1,289 | 787 | 1,190 | 1,499 | 1,264 |
| Operating Expenses ⓘ | 1,089 | 1,104 | 1,111 | 1,181 | 1,231 | 1,145 | 711 | 1,073 | 1,301 | 1,162 |
| Manufacturing Costs | 266 | 262 | 266 | 290 | 296 | 266 | 157 | 293 | 340 | 280 |
| Material Costs | 564 | 562 | 539 | 570 | 622 | 559 | 346 | 479 | 589 | 523 |
| Employee Cost | 181 | 196 | 218 | 236 | 237 | 242 | 153 | 219 | 286 | 282 |
| Other Costs ⓘ | 79 | 84 | 88 | 84 | 76 | 78 | 55 | 81 | 86 | 76 |
| Operating Profit ⓘ | 138 | 160 | 134 | 111 | 120 | 144 | 76 | 117 | 197 | 103 |
| Operating Profit Margin (%) | 11.2% | 12.7% | 10.7% | 8.6% | 8.9% | 11.2% | 9.6% | 9.9% | 13.2% | 8.1% |
| Other Income ⓘ | 17 | 11 | 14 | 16 | 14 | 13 | 16 | 21 | 15 | 18 |
| Interest ⓘ | 81 | 70 | 63 | 59 | 56 | 49 | 33 | 25 | 32 | 30 |
| Depreciation ⓘ | 59 | 57 | 58 | 58 | 55 | 51 | 46 | 42 | 41 | 43 |
| Exceptional Items ⓘ | 0 | 0 | -1 | 1 | -3 | 0 | 3 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 14 | 44 | 25 | 11 | 20 | 58 | 16 | 72 | 140 | 48 |
| Tax ⓘ | 6 | 17 | 6 | 3 | -5 | 4 | 2 | 25 | 29 | 12 |
| Profit After Tax | 8 | 27 | 19 | 8 | 24 | 53 | 14 | 47 | 111 | 35 |
| PAT Margin (%) | 0.7% | 2.2% | 1.5% | 0.6% | 1.8% | 4.1% | 1.8% | 3.9% | 7.4% | 2.8% |
| Adjusted EPS (₹) | 2.4 | 8.0 | 5.6 | 2.3 | 7.1 | 15.6 | 4.1 | 13.7 | 32.6 | 10.3 |
| Dividend Payout Ratio (%) | 20% | 12% | 9% | 22% | 7% | 5% | 18% | 9% | 9% | 10% |
| 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 | 223 | 249 | 262 | 269 | 294 | 342 | 357 | 400 | 509 | 535 |
| Share Capital ⓘ | 16 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
| Reserves ⓘ | 207 | 232 | 245 | 252 | 277 | 325 | 340 | 383 | 492 | 518 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 566 | 497 | 489 | 479 | 420 | 260 | 171 | 220 | 327 | 298 |
| Long Term Debt | 263 | 217 | 199 | 185 | 140 | 97 | 137 | 106 | 124 | 149 |
| Short Term Debt | 303 | 280 | 290 | 294 | 280 | 163 | 34 | 113 | 203 | 149 |
| Trade Payables | 139 | 127 | 146 | 172 | 133 | 104 | 101 | 107 | 88 | 80 |
| Others Liabilities ⓘ | 162 | 183 | 172 | 170 | 156 | 181 | 148 | 157 | 144 | 158 |
| Total Liabilities ⓘ | 1,090 | 1,057 | 1,069 | 1,091 | 1,003 | 888 | 778 | 884 | 1,068 | 1,070 |
Fixed Assets | ||||||||||
| Gross Block | 892 | 918 | 543 | 575 | 584 | 589 | 596 | 588 | 680 | 772 |
| Accumulated Depreciation | 390 | 445 | 57 | 115 | 166 | 215 | 258 | 274 | 310 | 348 |
| Net Fixed Assetsⓘ | 501 | 473 | 486 | 460 | 418 | 374 | 338 | 314 | 370 | 424 |
| CWIP ⓘ | 10 | 8 | 6 | 5 | 0 | 1 | 1 | 29 | 22 | 20 |
| Investmentsⓘ | 18 | 19 | 4 | 4 | 4 | 4 | 3 | 5 | 6 | 10 |
| Inventories | 329 | 290 | 329 | 310 | 288 | 237 | 196 | 279 | 314 | 271 |
| Trade Receivables | 138 | 162 | 158 | 183 | 163 | 140 | 115 | 126 | 212 | 207 |
| Cash Equivalents | 15 | 21 | 15 | 13 | 18 | 13 | 14 | 27 | 37 | 28 |
| Others Assetsⓘ | 79 | 84 | 71 | 116 | 113 | 119 | 111 | 103 | 108 | 110 |
| Total Assets ⓘ | 1,090 | 1,057 | 1,069 | 1,091 | 1,003 | 888 | 778 | 884 | 1,068 | 1,070 |
| 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 ⓘ | 179 | 174 | 140 | 106 | 137 | 205 | 132 | 54 | 20 | 145 |
| PBT ⓘ | 14 | 27 | 25 | 11 | 20 | 58 | 16 | 72 | 140 | 48 |
| Adjustment ⓘ | 140 | 144 | 121 | 115 | 114 | 93 | 73 | 62 | 69 | 64 |
| Changes in Working Capital ⓘ | 33 | 11 | 6 | -13 | 7 | 65 | 45 | -57 | -145 | 50 |
| Tax Paid ⓘ | -9 | -8 | -12 | -8 | -3 | -11 | -3 | -23 | -43 | -17 |
| Cash Flow From Investing Activity ⓘ | -48 | -28 | -61 | -25 | -10 | -4 | -3 | -48 | -100 | -93 |
| Capex | -46 | -28 | -61 | -29 | -9 | -6 | -9 | -58 | -100 | -94 |
| Net Investments | -3 | -1 | 0 | 3 | -1 | -1 | 4 | 8 | -2 | 2 |
| Others ⓘ | 1 | 1 | 0 | 1 | 0 | 4 | 2 | 2 | 2 | -2 |
| Cash Flow From Financing Activityⓘ | -148 | -140 | -82 | -85 | -123 | -206 | -126 | 5 | 75 | -58 |
| Net Proceeds from Shares ⓘ | 3 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -20 | -53 | -19 | -39 | -54 | -32 | 33 | -37 | 19 | 37 |
| Interest Paid ⓘ | -80 | -70 | -63 | -59 | -56 | -48 | -33 | -26 | -32 | -29 |
| Dividend Paid ⓘ | -5 | -2 | -4 | -2 | -2 | -4 | 0 | -3 | -4 | -10 |
| Others ⓘ | -46 | -17 | 4 | 16 | -11 | -122 | -127 | 71 | 92 | -56 |
| Net Cash Flow ⓘ | -17 | 6 | -2 | -4 | 4 | -5 | 4 | 11 | -4 | -7 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.7 | 11.52 | 7.42 | 2.98 | 8.57 | 16.78 | 3.99 | 12.34 | 24.51 | 6.75 |
| ROCE (%) | 10.78 | 13.66 | 10.83 | 8.6 | 9.66 | 14.88 | 7.84 | 15.56 | 22.32 | 8.74 |
| Asset Turnover Ratio | 1.12 | 1.18 | 1.18 | 1.2 | 1.29 | 1.36 | 0.95 | 1.43 | 1.54 | 1.18 |
| PAT to CFO Conversion(x) | 22.38 | 6.44 | 7.37 | 13.25 | 5.71 | 3.87 | 9.43 | 1.15 | 0.18 | 4.14 |
| Working Capital Days | ||||||||||
| Receivable Days | 43 | 43 | 47 | 48 | 47 | 43 | 59 | 37 | 41 | 61 |
| Inventory Days | 94 | 89 | 90 | 90 | 81 | 74 | 101 | 73 | 72 | 84 |
| Payable Days | 51 | 68 | 92 | 102 | 89 | 77 | 109 | 79 | 61 | 59 |
Banswara Syntex was incorporated in 1976 as a joint sector company with RIICO, a government of Rajasthan undertaking and R.L.Toshniwal. Initially it started as a spinning mill with a capacity of 12500 spindles.
Later in 1982, R.L.Toshniwal purchased the entire shares of RIICO. Besides increasing the spinning capacity to 119188 spindles, company also started production of fabric in 1993. The same year, it commenced cloth weaving activity by setting up a state-of-art weaving plant to manufacture quality fabrics in the brand name of ‘BANTEX’ mainly for domestic market.
In the year 2004, Banswara Syntex started manufacturing of readymade garments and cotton spinning. For readymade garments, a separate unit was set up at Daman to manufacture trousers in the brand name of ‘INTEGRATION’. Second garmenting unit was set up in SEZ at Surat.
One year later in 2005 Banswara Textile Mills, an associate firm engaged in fabric finishing activity was amalgamated with the company. The company is also introducing technical fabric and has setup coating unit for the same.
In 2006, company entered into joint venture with French company Carreman. It started production of made-up's and worsted spinning in 2008.
Presently it is a public limited company with the promoters holding 59.44% of equity share capital.
Company’s present installed capacity is 133588 ring spindles which includes 14400 spindles for worsted yarn spinning, 576 air jet spindles, 194 shuttles-less looms, 12-Air jet jacquard looms, 6 stenters with processing capacity of 4 million meters per month, besides this ready-made garment production capacity for trousers 2.25 lakh pieces and 10000 pieces jackets per month at Daman and Surat. For manufacturing fabrics, it purchases Lycra from international brand, Dupont.
In the domestic market, company caters to major customers includes Raymonds, Reliance Industries, Grasim Industries, Siyaram Silk Mills, Rajasthan Spg. & Wvg. Mills, Donear Suitings, Arviva, Bombay Dyeing & Manufacturing Mills, Indian Rayon, Life Style International etc.
Product range of the company includes:
Exports - Banswara Syntex exports its products to more than 50 countries including US, UK, Canada, Spain, Germany, Italy, France, Philippines, Turkey and GCC countries.
Awards/recognition
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
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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