BSE: 538817 | NSE: | Rubber Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Captain Pipes Ltd is a good quality company.
The key valuation ratios of Captain Pipes Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Captain Pipes 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 % ⓘ | 22.2% | 17.7% | 12.9% | -0.7% | 13.3% | 15.1% | 14.6% | 43.5% | 15.7% | 25% | - |
| Value Creation Index ⓘ | 0.6 | 0.3 | -0.1 | -1.1 | -0.1 | 0.1 | 0.1 | 2.1 | 0.1 | 0.8 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 34.7 | 53.7 | 53.5 | 43.6 | 54.6 | 45.5 | 40.5 | 82.7 | 85.5 | 76.4 | 74 |
| Sales YoY Gr. | - | 55.1% | -0.5% | -18.4% | 25.1% | -16.7% | -11% | 104.5% | 3.4% | -10.7% | - |
| Adj EPS ⓘ | 0 | 0 | 0 | -0.1 | 0 | 0 | 0 | 0.1 | 0.1 | 0.3 | 0.3 |
| YoY Gr. | - | 0% | -50% | -700% | NA | 0% | 0% | 550% | 0% | 107.7% | - |
| BVPS (₹) ⓘ | 0.7 | 0.8 | 0.8 | 0.7 | 0.7 | 0.7 | 0.7 | 1.1 | 1.4 | 1.7 | 1.9 |
| Adj Net Profit ⓘ | 0.6 | 0.5 | 0.3 | -1.5 | 0.2 | 0.3 | 0.3 | 1.6 | 1.8 | 4 | 4 |
| Cash Flow from Ops. ⓘ | 2.7 | 4 | 2.3 | 4.3 | 3.2 | 3.6 | 1.4 | -4.7 | 2.8 | 4.1 | - |
| Debt/CF from Ops. ⓘ | 3.5 | 2.4 | 4.3 | 2.1 | 1.6 | 0.9 | 2.9 | -0.8 | 0.9 | 1.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 9.2% | 7% | 23.6% | -10.7% | ||||
| Adj EPS ⓘ | 23.6% | 68.3% | 138.1% | 107.7% | ||||
| BVPSⓘ | 10.4% | 20.5% | 33.3% | 20.1% | ||||
| Share Price | 29.3% | 81.7% | 102.8% | -5.1% | ||||
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 % ⓘ | 9.8 | 5.8 | 3.2 | -16.6 | 2.6 | 3.4 | 3.1 | 12.5 | 9.8 | 17.3 | 16 |
| Op. Profit Mgn % ⓘ | 9.7 | 7.2 | 6.1 | 1.3 | 4.9 | 5.6 | 6 | 3.3 | 4.7 | 10.1 | 11.6 |
| Net Profit Mgn % ⓘ | 1.6 | 1 | 0.6 | -3.4 | 0.4 | 0.6 | 0.7 | 1.9 | 2.1 | 5.2 | 5.8 |
| Debt to Equity ⓘ | 1.1 | 1 | 1.1 | 1.1 | 0.6 | 0.4 | 0.5 | 0.3 | 0.1 | 0.2 | 0.5 |
| Working Cap Days ⓘ | 132 | 127 | 141 | 182 | 138 | 148 | 159 | 96 | 103 | 115 | 76 |
| Cash Conv. Cycle ⓘ | 39 | 38 | 32 | 44 | 28 | 26 | 21 | 28 | 39 | 58 | 46 |
Return on Equity has increased versus last 3 years average to 16.00%
Sales growth is growing at healthy rate in last 3 years 23.57%
Net Profit is growing at healthy rate in last 3 years 138.11%
Sales growth is not so good in last 4 quarters at -6.39%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.3 | - |
| TTM Sales (₹ Cr.) | 73.9 | - |
| BVPS (₹.) ⓘ | 1.9 | - |
| Reserves (₹ Cr.) ⓘ | 13 | - |
| P/BV ⓘ | 8.48 | - |
| PE ⓘ | 54.38 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 14.01 / 24.50 |
| All Time Low / High (₹) | 0.57 / 35.79 |
| Market Cap (₹ Cr.) | 237 |
| Equity (₹ Cr.) | 14.8 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 37.6 |
| 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 | 35 | 54 | 53 | 44 | 55 | 45 | 40 | 83 | 86 | 76 |
| Operating Expenses ⓘ | 31 | 50 | 50 | 43 | 52 | 43 | 38 | 80 | 82 | 69 |
| Manufacturing Costs | 1 | 3 | 3 | 2 | 2 | 2 | 1 | 2 | 3 | 3 |
| Material Costs | 28 | 44 | 44 | 38 | 47 | 38 | 34 | 75 | 74 | 61 |
| Employee Cost | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Other Costs ⓘ | 1 | 1 | 2 | 1 | 2 | 2 | 2 | 2 | 4 | 4 |
| Operating Profit ⓘ | 3 | 4 | 3 | 1 | 3 | 3 | 2 | 3 | 4 | 8 |
| Operating Profit Margin (%) | 9.7% | 7.2% | 6.1% | 1.2% | 4.9% | 5.6% | 6.0% | 3.3% | 4.7% | 10.1% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest ⓘ | 2 | 3 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 |
| Depreciation ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Items ⓘ | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 0 | 0 |
| Profit Before Tax ⓘ | 2 | 0 | 0 | -2 | 0 | 0 | 0 | 6 | 2 | 6 |
| Tax ⓘ | 1 | 0 | 0 | -1 | 0 | 0 | 0 | 1 | 1 | 2 |
| Profit After Tax | 1 | 1 | 0 | -2 | 0 | 0 | 0 | 5 | 2 | 4 |
| PAT Margin (%) | 3.3% | 1.0% | 0.6% | -3.4% | 0.5% | 0.8% | 0.7% | 6.2% | 2.1% | 5.2% |
| Adjusted EPS (₹) | 0.1 | 0.0 | 0.0 | -0.1 | 0.0 | 0.0 | 0.0 | 0.4 | 0.1 | 0.3 |
| 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 | 9 | 9 | 10 | 8 | 8 | 9 | 9 | 14 | 20 | 26 |
| Share Capital ⓘ | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 14 | 15 |
| Reserves ⓘ | 5 | 5 | 5 | 4 | 4 | 5 | 5 | 10 | 6 | 11 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 8 | 8 | 8 | 6 | 4 | 2 | 3 | 3 | 2 | 5 |
| Long Term Debt | 3 | 3 | 3 | 3 | 2 | 2 | 3 | 3 | 2 | 3 |
| Short Term Debt | 5 | 5 | 5 | 3 | 2 | 0 | 0 | 0 | 0 | 3 |
| Trade Payables | 9 | 14 | 14 | 15 | 14 | 13 | 11 | 13 | 9 | 9 |
| Others Liabilities ⓘ | 2 | 4 | 5 | 5 | 3 | 3 | 3 | 4 | 3 | 4 |
| Total Liabilities ⓘ | 28 | 35 | 36 | 33 | 30 | 27 | 26 | 35 | 33 | 44 |
Fixed Assets | ||||||||||
| Gross Block | 13 | 13 | 14 | 14 | 14 | 15 | 15 | 16 | 17 | 21 |
| Accumulated Depreciation | 2 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| Net Fixed Assetsⓘ | 11 | 11 | 10 | 10 | 9 | 9 | 8 | 9 | 8 | 11 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 6 |
| Inventories | 6 | 10 | 15 | 14 | 12 | 11 | 9 | 11 | 10 | 12 |
| Trade Receivables | 8 | 11 | 8 | 6 | 6 | 5 | 6 | 11 | 10 | 12 |
| Cash Equivalents | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 3 | 0 |
| Others Assetsⓘ | 2 | 2 | 2 | 2 | 1 | 2 | 3 | 4 | 3 | 2 |
| Total Assets ⓘ | 28 | 35 | 36 | 33 | 30 | 27 | 26 | 35 | 33 | 44 |
| 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 ⓘ | 3 | 4 | 2 | 4 | 3 | 4 | 1 | -5 | 3 | 4 |
| PBT ⓘ | 2 | 0 | 0 | -2 | 0 | 0 | 0 | 6 | 2 | 6 |
| Adjustment ⓘ | 2 | 3 | 3 | 3 | 2 | 2 | 2 | -3 | 2 | 2 |
| Changes in Working Capital ⓘ | -1 | 0 | -1 | 4 | 0 | 1 | -1 | -7 | -1 | -3 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 |
| Cash Flow From Investing Activity ⓘ | -4 | 0 | 0 | 0 | 0 | 0 | -1 | 4 | -1 | -10 |
| Capex | -4 | -1 | 0 | 0 | -1 | 0 | 0 | 0 | -1 | -4 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 0 | -6 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 1 | -3 | -2 | -4 | -3 | -3 | 0 | 1 | 0 | 3 |
| Net Proceeds from Shares ⓘ | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 1 |
| Net Proceeds from Borrowing ⓘ | -2 | 0 | 0 | 0 | -1 | 0 | 1 | 0 | -1 | 1 |
| Interest Paid ⓘ | -2 | -3 | -2 | -2 | -2 | -1 | -1 | -1 | -1 | -1 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | -1 | 0 | -2 | 0 | -2 | 0 | 1 | 0 | 3 |
| Net Cash Flow ⓘ | 0 | 1 | 0 | 0 | -1 | 0 | 0 | 0 | 3 | -3 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 19.92 | 5.84 | 3.41 | -16.87 | 3.39 | 4.45 | 3.1 | 44.02 | 10.48 | 17.48 |
| ROCE (%) | 22.23 | 17.65 | 12.87 | -0.7 | 13.3 | 15.12 | 14.64 | 43.52 | 15.74 | 24.99 |
| Asset Turnover Ratio | 1.49 | 1.76 | 1.69 | 1.33 | 1.74 | 1.6 | 1.51 | 2.7 | 2.5 | 1.98 |
| PAT to CFO Conversion(x) | 3 | 4 | N/A | N/A | N/A | N/A | N/A | -1 | 1.5 | 1 | Working Capital Days |
| Receivable Days | 58 | 63 | 57 | 56 | 43 | 46 | 50 | 38 | 45 | 51 |
| Inventory Days | 57 | 52 | 73 | 114 | 86 | 89 | 87 | 43 | 44 | 52 |
| Payable Days | 85 | 92 | 114 | 134 | 112 | 130 | 132 | 59 | 54 | 52 |
The company was originally incorporated on January 05, 2010 as a private limited company under the name and style of 'Captain Pipes Private Limited' under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat, Dadra & Nagar Havelli. Subsequently, the company was converted into a public limited company on September 23, 2014 and the name of the company was changed to 'Captain Pipes Limited'.
The company started its manufacturing in the year 2010-11 by manufacturing uPVC pipes and subsequently diversified its manufacturing line by introducing uPVC Plumbing Fittings and uPVC Agri Fittings to its products line in February, 2014. The company’s products are supplied to entities generally engaged in the agriculture and construction sector.
The company has its manufacturing facility located at Shapar (Veraval), Rajkot-Gujarat in a total area of around 62,000 sq. ft with an annual capacity of 17,700MT per annum. The company sells its varied range of products under the brand name of 'CAPTAIN' which is registered in the name of its Corporate Promoter i.e. Captain Polyplast Limited and the company uses the said brand name by virtue of an MOU dated December 16, 2010. The company also manufactures uPVC pipes for other companies under their brand name like Netafim Irrigation India Private Limited supplied to them. Some of its renowned customers include Netafim Irrigation India Private Limited, Sabar Export (I) Private Limited, Shakti Pumps etc.
The company has six fully automatic extrusion lines of latest German technology for manufacturing uPVC threaded Column Pipes, uPVC Plumbing Pipes, uPVC Pressure Pipes, uPVC Casing Pipes, five fully automatic machines of latest Japanese technology and approx 140 moulds of 2316 German material for manufacturing uPVC Plumbing Fittings and uPVC Agri Fittings and also has three fully automatic centralized mixer & two semi automatic mixer in order to mix up raw material in appropriate ratio to increase the quality of its products. The company also has its own laboratory and R&D departments with well equipped instruments and experienced technical persons in order to test its products to meet its quality assurance. The company follows Indian as well as International quality standards for its products and has two of the products ISI certified.
The company’s Promoter Directors, Ramesh D. Khichadia and Gopal D. Khichadia have about two decades of experience in field of marketing and manufacturing pipes & its related products and have in-depth knowledge of the products and industry in which it operates. One of its Founder Promoter, Ramesh D Khichadia has been awarded Udyog Patra for self made industrialist in the year 2008 by Institute of Trade and Industrial Development and Indira Gandhi Priyadarshini Award in the year 2008 by All India National Unity Conference-New Delhi.
The company has entered into arrangements / understanding with over 30 dealers/ distributors located across 9 states to market and sell its products viz. Gujarat, Madhya Pradesh, Haryana, Punjab, Uttar Pradesh, Andhra Pradesh (now in Telangana), Chhattisgarh, Karnataka and Maharashtra.
Business area of the company
The company is an ISO 9001:2008 certified company which manufactures a wide range of high tensile and high impact uPVC threaded Column Pipes, uPVC Plumbing Pipes, uPVC Pressure Pipes, uPVC Casing Pipes, uPVC Plumbing Fittings and uPVC Agri Fittings. The company is also a supplier of HDPE Pipes (being procured from Captain Polyplast Limited, the company’s Promoter Company which manufactures the same for it on job work basis) and uPVC Column Pipes Fittings being procured from identified manufacturer as per the company’s specifications. The company further assembles the procured uPVC Column Pipes with accessories and supplies the assembled products to its uPVC threaded Column Pipes customers.
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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.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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