BSE: 526409 | NSE: | Plastic Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Kkalpana lndustries (India) Ltd is a good quality company.
The key valuation ratios of Kkalpana lndustries (India) 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 Kkalpana lndustries (India) 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 % ⓘ | 6.3% | 10.5% | 14.8% | 15.7% | 20.1% | 16.8% | 14.3% | 1.2% | 11.9% | 7.5% | - |
| Value Creation Index ⓘ | -0.6 | -0.3 | 0.1 | 0.1 | 0.4 | 0.2 | 0.0 | -0.9 | -0.2 | -0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,713 | 1,858 | 1,950 | 1,728 | 2,009 | 1,762 | 1,550 | 40.2 | 272 | 62.1 | 53 |
| Sales YoY Gr. | - | 8.4% | 5% | -11.4% | 16.3% | -12.3% | -12% | -97.4% | 577.8% | -77.2% | - |
| Adj EPS ⓘ | 2.3 | 2.8 | 2.2 | 1.9 | 2.1 | 2.8 | 1.8 | 0.4 | 0.3 | 0.1 | 0.1 |
| YoY Gr. | - | 22.5% | -23% | -12.4% | 11% | 30.2% | -35.1% | -76% | -37.2% | -81.5% | - |
| BVPS (₹) ⓘ | 24.5 | 25.7 | 29.1 | 31.4 | 33.9 | 36.8 | 39.1 | 3.6 | 3.8 | 3.8 | 3.9 |
| Adj Net Profit ⓘ | 21.7 | 26.6 | 20.5 | 18 | 19.9 | 25.9 | 16.9 | 4 | 2.6 | 0.5 | 0 |
| Cash Flow from Ops. ⓘ | 132 | 87.3 | 83.3 | 204 | 172 | 83.9 | 28.2 | 5 | -4.2 | 1.9 | - |
| Debt/CF from Ops. ⓘ | 3.5 | 4.2 | 4.2 | 1.1 | 0.8 | 1.2 | 3.9 | 3.8 | -11.1 | 22.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -30.8% | -50.1% | -65.8% | -77.2% | ||||
| Adj EPS ⓘ | -34.7% | -52.7% | -69.7% | -81.5% | ||||
| BVPSⓘ | -18.7% | -35.4% | -53.9% | 0.8% | ||||
| Share Price | 0.3% | -0.9% | -28.3% | 67.7% | ||||
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 % ⓘ | 9.4 | 11.2 | 7.9 | 6.3 | 6.5 | 7.8 | 4.7 | 2 | 7.4 | 1.4 | 1.3 |
| Op. Profit Mgn % ⓘ | 4.3 | 4.9 | 4.8 | 5.5 | 5.1 | 4.3 | 4.1 | -0.4 | -1.3 | -14.8 | -13.3 |
| Net Profit Mgn % ⓘ | 1.3 | 1.4 | 1.1 | 1 | 1 | 1.5 | 1.1 | 10.1 | 0.9 | 0.8 | 0.9 |
| Debt to Equity ⓘ | 2 | 1.5 | 1.3 | 0.8 | 0.4 | 0.3 | 0.3 | 0.6 | 1.3 | 1.2 | 0.7 |
| Working Cap Days ⓘ | 105 | 103 | 94 | 117 | 100 | 100 | 121 | 2,798 | 41 | 216 | 143 |
| Cash Conv. Cycle ⓘ | 62 | 67 | 78 | 96 | 81 | 83 | 94 | 2,102 | 24 | 130 | 101 |
No data to display
Return on Equity has declined versus last 3 years average to 1.30%
Sales growth has been subdued in last 3 years -65.78%
Net Profit has been subdued in last 3 years -69.66%
Debt to equity has increased versus last 3 years average to 1.16
Sales growth is not so good in last 4 quarters at -37.74%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.1 | 0 |
| TTM Sales (₹ Cr.) | 52.8 | 66 |
| BVPS (₹.) ⓘ | 3.9 | 3.7 |
| Reserves (₹ Cr.) ⓘ | 17 | 16 |
| P/BV ⓘ | 4.49 | 4.65 |
| PE ⓘ | 355.75 | 783.34 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 8.54 / 23.16 |
| All Time Low / High (₹) | 0.02 / 63.00 |
| Market Cap (₹ Cr.) | 163 |
| Equity (₹ Cr.) | 18.8 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 39.5 |
| 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 | 1,713 | 1,858 | 1,950 | 1,728 | 2,009 | 1,762 | 1,550 | 40 | 272 | 62 |
| Operating Expenses ⓘ | 1,639 | 1,767 | 1,857 | 1,633 | 1,908 | 1,688 | 1,487 | 40 | 277 | 71 |
| Manufacturing Costs | 33 | 37 | 27 | 29 | 40 | 40 | 32 | 8 | 7 | 9 |
| Material Costs | 1,531 | 1,656 | 1,731 | 1,510 | 1,755 | 1,531 | 1,344 | 26 | 261 | 50 |
| Employee Cost | 21 | 19 | 22 | 28 | 42 | 39 | 32 | 4 | 4 | 7 |
| Other Costs ⓘ | 55 | 55 | 78 | 66 | 71 | 78 | 79 | 3 | 4 | 6 |
| Operating Profit ⓘ | 74 | 90 | 93 | 95 | 101 | 74 | 63 | 0 | -5 | -9 |
| Operating Profit Margin (%) | 4.3% | 4.9% | 4.7% | 5.5% | 5.1% | 4.2% | 4.1% | -0.4% | -1.7% | -14.8% |
| Other Income ⓘ | 16 | 19 | 12 | 12 | 13 | 14 | 15 | 6 | 15 | 19 |
| Interest ⓘ | 36 | 51 | 54 | 55 | 57 | 45 | 36 | 0 | 6 | 5 |
| Depreciation ⓘ | 21 | 14 | 13 | 17 | 16 | 12 | 12 | 3 | 2 | 3 |
| Exceptional Items ⓘ | -25 | -27 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 |
| Profit Before Tax ⓘ | 8 | 17 | 37 | 34 | 40 | 30 | 31 | 3 | 2 | 1 |
| Tax ⓘ | 4 | 6 | 11 | 13 | 15 | 0 | 8 | -2 | 1 | 0 |
| Profit After Tax | 4 | 11 | 26 | 22 | 26 | 31 | 22 | 5 | 2 | 0 |
| PAT Margin (%) | 0.3% | 0.6% | 1.3% | 1.3% | 1.3% | 1.7% | 1.4% | 13.2% | 0.7% | 0.4% |
| Adjusted EPS (₹) | 0.5 | 1.2 | 2.8 | 2.3 | 2.7 | 3.3 | 2.4 | 0.6 | 0.2 | 0.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 10% | 9% | 4% | 8% | 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 | 232 | 243 | 274 | 296 | 319 | 346 | 368 | 34 | 36 | 36 |
| Share Capital ⓘ | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| Reserves ⓘ | 213 | 224 | 255 | 277 | 300 | 327 | 349 | 15 | 17 | 17 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 374 | 333 | 332 | 209 | 121 | 85 | 109 | 19 | 46 | 42 |
| Long Term Debt | 111 | 71 | 67 | 65 | 50 | 36 | 23 | 19 | 46 | 42 |
| Short Term Debt | 263 | 262 | 266 | 144 | 70 | 49 | 86 | 0 | 0 | 0 |
| Trade Payables | 61 | 134 | 147 | 268 | 290 | 206 | 319 | 3 | 1 | 1 |
| Others Liabilities ⓘ | 146 | 68 | 68 | 63 | 75 | 69 | 45 | 17 | 14 | 7 |
| Total Liabilities ⓘ | 812 | 779 | 822 | 836 | 804 | 706 | 841 | 72 | 97 | 86 |
Fixed Assets | ||||||||||
| Gross Block | 259 | 296 | 224 | 261 | 289 | 305 | 294 | 36 | 41 | 39 |
| Accumulated Depreciation | 91 | 90 | 13 | 30 | 46 | 57 | 67 | 4 | 7 | 9 |
| Net Fixed Assetsⓘ | 168 | 206 | 211 | 231 | 243 | 247 | 228 | 31 | 34 | 30 |
| CWIP ⓘ | 15 | 4 | 14 | 4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 3 | 3 | 15 | 15 | 15 | 2 | 2 | 3 | 3 | 0 |
| Inventories | 129 | 100 | 174 | 155 | 157 | 152 | 229 | 8 | 8 | 14 |
| Trade Receivables | 237 | 374 | 340 | 335 | 310 | 239 | 280 | 8 | 15 | 9 |
| Cash Equivalents | 37 | 28 | 16 | 17 | 17 | 15 | 8 | 0 | 11 | 6 |
| Others Assetsⓘ | 224 | 65 | 53 | 78 | 61 | 50 | 94 | 22 | 26 | 27 |
| Total Assets ⓘ | 812 | 779 | 822 | 836 | 804 | 706 | 841 | 72 | 97 | 86 |
| 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 ⓘ | 132 | 87 | 83 | 204 | 172 | 84 | 28 | 5 | -4 | 2 |
| PBT ⓘ | 33 | 44 | 37 | 34 | 40 | 30 | 31 | 3 | 2 | 1 |
| Adjustment ⓘ | 52 | 61 | 71 | 67 | 73 | 57 | 61 | 3 | 8 | 8 |
| Changes in Working Capital ⓘ | 49 | 13 | -20 | 110 | 68 | 4 | -59 | 2 | -12 | -4 |
| Tax Paid ⓘ | -2 | -3 | -5 | -8 | -9 | -8 | -5 | -3 | -3 | -2 |
| Cash Flow From Investing Activity ⓘ | -36 | -4 | -37 | -21 | -25 | -1 | -5 | -5 | -6 | 3 |
| Capex | -37 | -5 | -40 | -28 | -24 | -4 | -5 | -4 | -5 | 1 |
| Net Investments | 0 | 0 | 0 | 5 | -1 | 3 | 0 | -1 | -1 | 2 |
| Others ⓘ | 1 | 1 | 4 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -80 | -92 | -50 | -182 | -147 | -85 | -31 | 0 | 21 | -10 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -56 | -40 | 9 | -3 | -17 | -17 | -15 | 0 | 27 | -4 |
| Interest Paid ⓘ | -36 | -51 | -52 | -53 | -55 | -45 | -34 | 0 | -6 | -4 |
| Dividend Paid ⓘ | -3 | 0 | 0 | 0 | -2 | 0 | -1 | -2 | 0 | 0 |
| Others ⓘ | 14 | -1 | -8 | -125 | -73 | -23 | 20 | 2 | -1 | -1 |
| Net Cash Flow ⓘ | 16 | -9 | -3 | 1 | 0 | -2 | -7 | 0 | 11 | -5 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.92 | 4.83 | 10.19 | 7.71 | 8.34 | 9.22 | 6.28 | 2.64 | 5.48 | 0.61 |
| ROCE (%) | 6.33 | 10.52 | 14.84 | 15.68 | 20.06 | 16.76 | 14.31 | 1.21 | 11.91 | 7.46 |
| Asset Turnover Ratio | 2.26 | 2.52 | 2.67 | 2.13 | 2.45 | 2.33 | 2 | 0.09 | 3.22 | 0.68 |
| PAT to CFO Conversion(x) | 33 | 7.91 | 3.19 | 9.27 | 6.62 | 2.71 | 1.27 | 1 | -2 | N/A | Working Capital Days |
| Receivable Days | 50 | 56 | 61 | 70 | 59 | 57 | 61 | 1,311 | 16 | 70 |
| Inventory Days | 26 | 21 | 23 | 34 | 28 | 32 | 45 | 1,074 | 10 | 66 |
| Payable Days | 15 | 10 | 6 | 8 | 6 | 7 | 13 | 476 | 3 | 8 |
The year was 1977, the PVC industry was beginning to spread its wings. Recognizing this as an opportunity area, the Kalpena Industries made a small beginning the same year in Kolkata. From the very start, the group’s focus was clear. It established a nice for itself in the shoe & cable industries as a quality supplier of PVC compounds. After that, there was no looking back. The Group charted an aggressive strategy for growth through capacity expansion and diversification action.
Within just seven years from start of operations, Kalpena established a modern unit at Daman for the manufacture of PVC compounds. Sustained growth over the next decade necessitated another round of expansion in 1994, when the group set up a second unit in Daman. This state-of-the art plant employed the latest process technology to manufacture XLPE compounds.
Having established itself as a leader in PVC compounding, the group realized that its core strength was in “Compounding†and thus decided to look beyond PVC by setting up units to manufacture specialty compounds like Silance and Preoxide based XLPE, zero halogen FRLS, NBR/PVC, anti-fibrication, semi-conductive, automotive, cross linkable EVA foam compound and also additive master baches for both National and International markets. Further the group is diversifying into manufacturing of primary and secondary plasticizer and Engineering Plastic Compounds.
The company has very recently commissioned new Buss Ko Kneader to manufacture XLPE compound for Medium Voltage cables upto 33KV. It is first Indian manufacturer to produce this product in the country. This will result into import substitution. Very recently, it has very successfully launched PPR compound for Pipe and fittings.
Product range of the company includes:
PVC Compounds
PE Compounds
Footware Compounds
Pipe Compounds
Recent developments
Kalpena Industries members at the Extra Ordinary General Meeting (EGM) of the Company held on April 26, 2009, have approved the increase of Authorized Share Capital from existing 12 crore to 15 crore by creating additional 30,00,000 Equity Shares of Rs 10 each. (Ordinary).
The EGM also approved the issue of 9,50,000 Compulsory Convertible Debentures (CCDs) by way of Preferential allotment to (i) Banyan Tree Growth Capital LLC. (BTGC) (ii) Financierings Maatschappij Voor Ontwikkelingslanden N V (FMO) at a price of Rs 93.15 per CCD, subject to the approval of Stock Exchange and other regulatory authorities.
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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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