BSE: 513709 | NSE: | Engineering - Industrial Equipments | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Shilp Gravures Ltd is a good quality company.
The key valuation ratios of Shilp Gravures 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 Shilp Gravures 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 % ⓘ | 13.8% | 11.9% | 17.9% | 14.4% | 13.9% | 5% | 17.3% | 14.3% | 12.3% | 15.7% | - |
| Value Creation Index ⓘ | 0.0 | -0.2 | 0.3 | 0.0 | 0.0 | -0.7 | 0.2 | 0.0 | -0.1 | 0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 59.7 | 63.6 | 64.6 | 67.6 | 74.1 | 65.9 | 62.8 | 67.7 | 77 | 77.7 | 80 |
| Sales YoY Gr. | - | 6.6% | 1.7% | 4.6% | 9.6% | -11.1% | -4.7% | 7.9% | 13.7% | 1% | - |
| Adj EPS ⓘ | 7.2 | 7.3 | 11.6 | 10.1 | 11.8 | 4.5 | 14.3 | 10.7 | 12.8 | 9.6 | 18 |
| YoY Gr. | - | 0.7% | 59.3% | -13.1% | 17.2% | -61.8% | 217.1% | -25.2% | 19.2% | -24.9% | - |
| BVPS (₹) ⓘ | 72.7 | 76.2 | 87.5 | 97 | 104.6 | 102.7 | 119.9 | 132.5 | 143.1 | 159.2 | 168.1 |
| Adj Net Profit ⓘ | 4.4 | 4.5 | 7.1 | 6.2 | 7.3 | 2.8 | 8.8 | 6.6 | 7.8 | 5.9 | 11 |
| Cash Flow from Ops. ⓘ | 10.8 | 16.8 | 12.5 | 9.7 | 10.3 | 10.1 | 10.9 | 10.1 | 12 | 8.8 | - |
| Debt/CF from Ops. ⓘ | 1.4 | 0.7 | 0.6 | 1.1 | 1.3 | 1.5 | 0.2 | 0.2 | 0.1 | 0.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 3% | 1% | 7.4% | 1% | ||||
| Adj EPS ⓘ | 3.2% | -4.1% | -12.5% | -24.9% | ||||
| BVPSⓘ | 9.1% | 8.8% | 9.9% | 11.2% | ||||
| Share Price | 23.3% | 44.4% | 50.5% | 93.2% | ||||
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 % ⓘ | 10.3 | 9.8 | 14.2 | 10.9 | 11.7 | 4.4 | 12.9 | 8.5 | 9.3 | 6.3 | 11 |
| Op. Profit Mgn % ⓘ | 22.9 | 23.2 | 24 | 21.8 | 20.7 | 17.8 | 18.9 | 17.4 | 18.8 | 13.4 | 12.1 |
| Net Profit Mgn % ⓘ | 7.4 | 7 | 11 | 9.2 | 9.8 | 4.2 | 14 | 9.7 | 10.2 | 7.6 | 13.7 |
| Debt to Equity ⓘ | 0.4 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 152 | 130 | 112 | 132 | 138 | 170 | 185 | 170 | 151 | 151 | 131 |
| Cash Conv. Cycle ⓘ | 64 | 52 | 44 | 59 | 69 | 82 | 84 | 77 | 66 | 66 | 103 |
Return on Equity has increased versus last 3 years average to 11.00%
Sales growth has been subdued in last 3 years 7.38%
Net Profit has been subdued in last 3 years -12.53%
Sales growth is not so good in last 4 quarters at 4.57%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 18 | 17.1 |
| TTM Sales (₹ Cr.) | 80.4 | 89.1 |
| BVPS (₹.) ⓘ | 168.1 | 165.9 |
| Reserves (₹ Cr.) ⓘ | 98 | 96 |
| P/BV ⓘ | 2.11 | 2.14 |
| PE ⓘ | 19.78 | 20.74 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 128.10 / 393.65 |
| All Time Low / High (₹) | 5.00 / 393.65 |
| Market Cap (₹ Cr.) | 219 |
| Equity (₹ Cr.) | 6.2 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 59.3 |
| 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 | 60 | 64 | 65 | 68 | 74 | 66 | 63 | 68 | 77 | 78 |
| Operating Expenses ⓘ | 46 | 49 | 49 | 53 | 59 | 58 | 51 | 56 | 64 | 67 |
| Manufacturing Costs | 9 | 7 | 7 | 9 | 10 | 10 | 9 | 9 | 9 | 9 |
| Material Costs | 16 | 17 | 16 | 19 | 20 | 17 | 17 | 21 | 25 | 26 |
| Employee Cost | 15 | 17 | 19 | 20 | 23 | 22 | 20 | 22 | 24 | 27 |
| Other Costs ⓘ | 7 | 8 | 7 | 6 | 6 | 9 | 5 | 4 | 6 | 5 |
| Operating Profit ⓘ | 14 | 15 | 15 | 15 | 15 | 8 | 12 | 12 | 13 | 10 |
| Operating Profit Margin (%) | 22.9% | 23.2% | 23.9% | 21.7% | 20.2% | 12.6% | 18.8% | 17.4% | 17.1% | 13.3% |
| Other Income ⓘ | 1 | 1 | 1 | 1 | 2 | 1 | 6 | 4 | 2 | 9 |
| Interest ⓘ | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| Depreciation ⓘ | 6 | 6 | 6 | 7 | 7 | 6 | 5 | 4 | 4 | 4 |
| Exceptional Items ⓘ | 0 | -3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 6 | 5 | 10 | 9 | 9 | 3 | 13 | 11 | 10 | 15 |
| Tax ⓘ | 2 | 2 | 3 | 1 | 1 | 1 | 2 | 2 | 3 | 3 |
| Profit After Tax | 5 | 3 | 7 | 7 | 8 | 1 | 10 | 9 | 8 | 11 |
| PAT Margin (%) | 7.6% | 4.8% | 11.0% | 10.4% | 10.4% | 1.7% | 16.7% | 12.8% | 9.8% | 14.4% |
| Adjusted EPS (₹) | 7.4 | 4.9 | 11.6 | 11.4 | 12.5 | 1.8 | 17.0 | 14.2 | 12.3 | 18.2 |
| Dividend Payout Ratio (%) | 16% | 24% | 13% | 13% | 32% | 81% | 11% | 13% | 17% | 12% |
| 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 | 45 | 47 | 54 | 60 | 64 | 63 | 74 | 81 | 88 | 98 |
| Share Capital ⓘ | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves ⓘ | 39 | 41 | 48 | 54 | 58 | 57 | 68 | 75 | 82 | 92 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 13 | 11 | 8 | 9 | 11 | 12 | 2 | 2 | 1 | 3 |
| Long Term Debt | 4 | 1 | 1 | 4 | 7 | 5 | 0 | 0 | 0 | 0 |
| Short Term Debt | 8 | 10 | 6 | 4 | 4 | 6 | 2 | 2 | 1 | 3 |
| Trade Payables | 6 | 7 | 7 | 8 | 7 | 7 | 5 | 6 | 6 | 6 |
| Others Liabilities ⓘ | 16 | 9 | 11 | 12 | 10 | 10 | 9 | 8 | 9 | 10 |
| Total Liabilities ⓘ | 80 | 73 | 79 | 88 | 92 | 92 | 90 | 98 | 104 | 117 |
Fixed Assets | ||||||||||
| Gross Block | 114 | 118 | 47 | 56 | 61 | 67 | 68 | 77 | 78 | 87 |
| Accumulated Depreciation | 68 | 73 | 6 | 12 | 19 | 24 | 29 | 33 | 37 | 41 |
| Net Fixed Assetsⓘ | 46 | 44 | 41 | 44 | 43 | 43 | 39 | 44 | 41 | 46 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 2 | 1 |
| Investmentsⓘ | 4 | 2 | 12 | 16 | 20 | 15 | 19 | 21 | 28 | 35 |
| Inventories | 6 | 5 | 5 | 7 | 8 | 8 | 7 | 7 | 7 | 7 |
| Trade Receivables | 14 | 13 | 13 | 16 | 16 | 15 | 14 | 13 | 14 | 13 |
| Cash Equivalents | 1 | 8 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Others Assetsⓘ | 9 | 2 | 5 | 5 | 5 | 9 | 10 | 11 | 10 | 12 |
| Total Assets ⓘ | 80 | 73 | 79 | 88 | 92 | 92 | 90 | 98 | 104 | 117 |
| 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 ⓘ | 11 | 17 | 12 | 10 | 10 | 10 | 11 | 10 | 12 | 9 |
| PBT ⓘ | 6 | 5 | 10 | 9 | 9 | 3 | 13 | 11 | 10 | 15 |
| Adjustment ⓘ | 9 | 11 | 6 | 6 | 7 | 9 | -1 | 1 | 4 | -4 |
| Changes in Working Capital ⓘ | -2 | 3 | -0 | -2 | -3 | -0 | 1 | 0 | -1 | 1 |
| Tax Paid ⓘ | -2 | -3 | -3 | -3 | -3 | -2 | -2 | -2 | -2 | -3 |
| Cash Flow From Investing Activity ⓘ | -5 | -10 | -8 | -10 | -9 | -9 | 2 | -9 | -9 | -7 |
| Capex | -4 | -5 | -3 | -9 | -6 | -7 | 0 | -9 | -2 | -9 |
| Net Investments | -1 | -7 | -10 | -1 | -2 | 6 | -3 | -3 | -8 | -7 |
| Others ⓘ | 0 | 1 | 5 | 0 | 0 | -9 | 6 | 2 | 1 | 8 |
| Cash Flow From Financing Activityⓘ | -6 | -7 | -5 | 0 | -2 | -1 | -13 | -1 | -3 | 0 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -5 | -5 | 0 | 5 | 2 | 0 | -8 | 0 | 0 | 0 |
| Interest Paid ⓘ | -2 | -2 | -1 | -1 | -1 | -1 | -1 | 0 | 0 | 0 |
| Dividend Paid ⓘ | -1 | -1 | -1 | -1 | -2 | -2 | 0 | -1 | -1 | -1 |
| Others ⓘ | 2 | 1 | -3 | -3 | 0 | 2 | -4 | 0 | -2 | 2 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 10.51 | 6.62 | 14.13 | 12.4 | 12.44 | 1.78 | 15.31 | 11.21 | 8.93 | 12.06 |
| ROCE (%) | 13.79 | 11.91 | 17.91 | 14.4 | 13.93 | 4.95 | 17.32 | 14.28 | 12.25 | 15.66 |
| Asset Turnover Ratio | 0.82 | 0.9 | 0.92 | 0.83 | 0.82 | 0.72 | 0.69 | 0.72 | 0.76 | 0.7 |
| PAT to CFO Conversion(x) | 2.2 | 5.67 | 1.71 | 1.43 | 1.25 | 10 | 1.1 | 1.11 | 1.5 | 0.82 | Working Capital Days |
| Receivable Days | 75 | 71 | 66 | 74 | 77 | 85 | 84 | 75 | 66 | 65 |
| Inventory Days | 30 | 29 | 26 | 31 | 36 | 45 | 43 | 38 | 34 | 33 |
| Payable Days | 124 | 142 | 151 | 143 | 139 | 161 | 133 | 96 | 86 | 84 |
Shilp Gravures began operations in 1989 as an engraving house, when gravure industry in India was at its infancy. It had an inherent cutting edge, having been founded and run by a team of experienced technocrats, led by the visionary Ambar Patel. In 1990, the company set up its own chemical etching facility and in 1993, it opened the first and only electronic engraving house in India - Shilp Gravures Limited. From chemical etching to electronic engraving, it was a huge leap. But, thanks to its technocreativity, Shilp Gravures developed a special expertise in electronic engraving within a very short while.
In 1995, the company graduated to commercial production of electronically engraved cylinders, pioneering the technology in India. In the years that followed, Shilp Gravures brought the world's best in technology and software to India, as they emerged in global technology capitals. It has had a long stint as India's market leader in quality quantity, and by popular opinion, is the country's most creative presence in the field.
Shilp Gravures' electro-mechanical engraving plant at Rakanpur near Ahmedabad, India, features the best technologies and equipment in the field- engravers, copper plating plant and polish master from Daetwyler, Switzerland, proof press from JM Heaford, UK, high-end pre-press shop from ArtPro & Esko Graphics, Belgium.
Shilp Gravures is India's pioneer and undisputed leader in electro-mechanical engraving, with a substantial market share of the flexible packaging industry. Shilp Gravures has assimilated the world's best equipment and infrastructure available in the field at its plants
Product range of the company includes:
Product Application Shilp serves complete cross-section of the gravure industry such as:
Awards
2010 - ET Now IndiaMART Leaders of Tomorrow Awards 2010
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