BSE: 526193 | NSE: ROYALCUSHN | Plastic Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Royal Cushion Vinyl Products Ltd is a below average quality company.
The key valuation ratios of Royal Cushion Vinyl Products Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Royal Cushion Vinyl Products 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 % ⓘ | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | - |
| Value Creation Index ⓘ | NA | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 74.7 | 74.8 | 66.2 | 71.7 | 73.5 | 62.5 | 61 | 69 | 52.1 | 54.7 | 66 |
| Sales YoY Gr. | - | 0.1% | -11.5% | 8.3% | 2.6% | -15% | -2.4% | 13.1% | -24.5% | 5% | - |
| Adj EPS ⓘ | -12.6 | -5.3 | -2.4 | -6 | 3.7 | -4.6 | -3.5 | 2.6 | -10.6 | 23 | 16.4 |
| YoY Gr. | - | NA | NA | NA | NA | -224.7% | NA | NA | -511.6% | NA | - |
| BVPS (₹) ⓘ | -398.3 | -403.6 | -368.1 | -373.4 | -369.7 | -375.2 | -373.6 | -334.5 | -334.5 | -17.7 | -18 |
| Adj Net Profit ⓘ | -15.3 | -6.4 | -2.9 | -7.2 | 4.4 | -5.5 | -4.3 | 3.1 | -12.8 | 84.2 | 60 |
| Cash Flow from Ops. ⓘ | 7.1 | -3.1 | 8 | 2.6 | -1.1 | -2 | -8 | -1.4 | -35.4 | -74.3 | - |
| Debt/CF from Ops. ⓘ | 40.7 | -96.8 | 38.9 | 125.3 | -301.5 | -165.1 | -41.9 | -221.3 | -9.2 | -0.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -3.4% | -5.7% | -3.6% | 5% | ||||
| Adj EPS ⓘ | NA | 44.5% | NA | NA | ||||
| BVPSⓘ | NA | NA | NA | NA | ||||
| Share Price | 12.4% | 35.2% | 54.3% | -9% | ||||
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 % ⓘ | 3.3 | 1.3 | 0.6 | 1.6 | -1 | 1.2 | 1 | -0.7 | 3.2 | -38.9 | -91.4 |
| Op. Profit Mgn % ⓘ | -15.7 | -1.3 | -13.5 | -13.6 | -15.6 | -14.8 | -9.4 | -17 | -25.8 | -4.9 | 0.4 |
| Net Profit Mgn % ⓘ | -20.4 | -8.5 | -4.3 | -10 | 6 | -8.8 | -7 | 4.5 | -24.6 | 154 | 90.2 |
| Debt to Equity ⓘ | -0.6 | -0.6 | -0.7 | -0.7 | -0.7 | -0.7 | -0.7 | -0.8 | -0.8 | -1 | - |
| Working Cap Days ⓘ | 175 | 170 | 161 | 111 | 88 | 94 | 109 | 110 | 128 | 132 | 68 |
| Cash Conv. Cycle ⓘ | -161 | -274 | -280 | -277 | -308 | -402 | -374 | -265 | -209 | -151 | -173 |
Sales growth is good in last 4 quarters at 53.24%
Return on Equity is Poor
Sales growth has been subdued in last 3 years -3.55%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 16.4 | - |
| TTM Sales (₹ Cr.) | 66.3 | - |
| BVPS (₹.) ⓘ | -18 | - |
| Reserves (₹ Cr.) ⓘ | -103 | - |
| P/BV ⓘ | -1.63 | - |
| PE ⓘ | 1.79 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 24.42 / 57.28 |
| All Time Low / High (₹) | 0.90 / 780.00 |
| Market Cap (₹ Cr.) | 107 |
| Equity (₹ Cr.) | 36.6 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 39.5 |
| Pledged * | 7.06 | 7.06 | 7.06 | 7.06 | 7.06 | 7.06 | 3.86 | 3.86 | 3.86 | 3.86 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 75 | 75 | 66 | 72 | 74 | 62 | 61 | 69 | 52 | 55 |
| Operating Expenses ⓘ | 86 | 76 | 75 | 81 | 85 | 74 | 67 | 81 | 66 | 57 |
| Manufacturing Costs | 15 | 14 | 15 | 17 | 16 | 12 | 9 | 10 | 11 | 12 |
| Material Costs | 61 | 52 | 50 | 55 | 59 | 51 | 51 | 63 | 47 | 37 |
| Employee Cost | 6 | 6 | 7 | 7 | 7 | 6 | 5 | 5 | 5 | 6 |
| Other Costs ⓘ | 5 | 4 | 4 | 3 | 3 | 4 | 2 | 2 | 2 | 3 |
| Operating Profit ⓘ | -12 | -1 | -9 | -10 | -11 | -11 | -6 | -12 | -13 | -3 |
| Operating Profit Margin (%) | -15.7% | -1.4% | -13.5% | -13.6% | -15.6% | -18.0% | -9.4% | -17.0% | -25.8% | -4.9% |
| Other Income ⓘ | 1 | 0 | 12 | 8 | 22 | 10 | 13 | 0 | 19 | 12 |
| Interest ⓘ | 3 | 4 | 5 | 4 | 5 | 4 | 4 | 3 | 4 | 3 |
| Depreciation ⓘ | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 63 | 0 | 289 |
| Profit Before Tax ⓘ | -15 | -6 | -3 | -7 | 4 | -7 | 2 | 47 | 0 | 294 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -15 | -6 | -3 | -7 | 4 | -7 | 2 | 47 | 0 | 294 |
| PAT Margin (%) | -20.4% | -8.6% | -4.3% | -9.8% | 6.0% | -11.0% | 3.3% | 68.3% | 0.4% | 537.8% |
| Adjusted EPS (₹) | -12.6 | -5.3 | -2.4 | -5.8 | 3.7 | -5.7 | 1.7 | 39.1 | 0.2 | 80.4 |
| 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 | -481 | -487 | -444 | -451 | -446 | -453 | -451 | -404 | -404 | -30 |
| Share Capital ⓘ | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 37 |
| Reserves ⓘ | -493 | -499 | -456 | -463 | -458 | -465 | -463 | -416 | -416 | -66 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 290 | 297 | 311 | 322 | 328 | 334 | 331 | 302 | 322 | 59 |
| Long Term Debt | 290 | 297 | 311 | 322 | 328 | 334 | 331 | 302 | 249 | 14 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 73 | 45 |
| Trade Payables | 79 | 78 | 85 | 82 | 95 | 85 | 84 | 61 | 38 | 36 |
| Others Liabilities ⓘ | 169 | 170 | 93 | 86 | 60 | 69 | 71 | 75 | 72 | 8 |
| Total Liabilities ⓘ | 58 | 58 | 46 | 40 | 38 | 34 | 36 | 35 | 29 | 73 |
Fixed Assets | ||||||||||
| Gross Block | 180 | 180 | 20 | 23 | 24 | 23 | 20 | 20 | 20 | 53 |
| Accumulated Depreciation | 160 | 161 | 1 | 3 | 4 | 6 | 8 | 7 | 8 | 7 |
| Net Fixed Assetsⓘ | 21 | 19 | 19 | 20 | 20 | 17 | 13 | 13 | 12 | 47 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 2 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 21 | 18 | 19 | 14 | 13 | 10 | 12 | 9 | 6 | 9 |
| Trade Receivables | 4 | 8 | 4 | 3 | 2 | 2 | 3 | 3 | 2 | 6 |
| Cash Equivalents | 0 | 1 | 0 | 1 | 0 | 1 | 1 | 1 | 0 | 1 |
| Others Assetsⓘ | 12 | 12 | 3 | 2 | 2 | 4 | 7 | 8 | 9 | 9 |
| Total Assets ⓘ | 58 | 58 | 46 | 40 | 38 | 34 | 36 | 35 | 29 | 73 |
| 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 ⓘ | 7 | -3 | 8 | 3 | -1 | -2 | -8 | -1 | -35 | -74 |
| PBT ⓘ | -14 | -6 | -3 | -6 | 4 | -7 | 2 | 47 | 0 | 294 |
| Adjustment ⓘ | 3 | 5 | -6 | -3 | -16 | 6 | -4 | -59 | -14 | -295 |
| Changes in Working Capital ⓘ | 19 | -2 | 17 | 12 | 10 | -2 | -6 | 10 | -22 | -74 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 1 | 0 | -1 | -1 | -1 | 1 | 12 | 0 | 18 | 8 |
| Capex | 0 | 0 | -1 | -2 | -1 | 1 | 11 | 0 | 17 | 9 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -8 | 3 | -7 | -1 | 2 | 1 | -3 | 1 | 17 | 67 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | -7 | 0 | 0 | 0 | 0 | 0 | 44 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 7 | 5 | 0 | 4 | 21 | 25 |
| Interest Paid ⓘ | -3 | -4 | -5 | -4 | -5 | -4 | -3 | -3 | -4 | -3 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -6 | 7 | -3 | 10 | 0 | -1 | 0 | 0 | 0 | 0 |
| 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 (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover Ratio | 1.18 | 1.39 | 1.39 | 1.72 | 1.9 | 1.74 | 1.75 | 1.96 | 1.64 | 1.07 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | -0.25 | N/A | -4 | -0.02 | N/A | -0.25 | Working Capital Days |
| Receivable Days | 17 | 26 | 31 | 18 | 13 | 11 | 13 | 16 | 17 | 27 |
| Inventory Days | 104 | 88 | 92 | 81 | 66 | 64 | 63 | 55 | 53 | 49 |
| Payable Days | 389 | 554 | 590 | 560 | 546 | 645 | 608 | 420 | 386 | 364 |
Royal Cushion Vinyl Products Ltd.(RCVP), a Samson Group company has two plants spread across 130 acres of land, at Garadia, Halol, which was commissioned from 1996-97 onwards for the manufacture of Vinyl Floorings of different types for various end-users and rigid films. It sells to customers in over 40 countries.
Samsons Group of Companies is one of India's leading manufacturer of vinyl coated fabrics/artificial leather, vinyl flooring, rigid films and seating systems.
The group consists of Royal Cushion Vinyl Products Ltd., Vinyroyal Plasticoates Pvt. Ltd., Vijayjyot Seats Pvt. Ltd. & Royal Knitting Pvt. Ltd. having a combined asset base of over 225 crores with 3 production facilities over 150 acres near Baroda, Gujarat. The group employs over 1000 people.
On testing RCVP products along with other international manufacturers’ products on the gloss meter, the results have shown that RCVP’s products can be produced at a gloss level of 7% to 30% higher than that of any other International brand in the world.
Product range of the company includes:
Royal Cushion Vinyl Products Ltd. manufactures different types of export quality vinyl floor coverings. These floor coverings from Royal House comes in thicknesses ranging from 0.65 mm to 3.0 mm, with a choice of unmatched designs, colours and textures. These floor coverings can be laid with ease over any hard surface. Narmada Building Enterprises (P) Ltd. is the All Kerala distributor for these products.
RCVP exports 50% of its production to developing countries with its major markets in Sudan, Ethiopia, Kenya, Tanzania, Saudi Arabia, Mombasa, Nigeria, etc.
Achievements/ recognition:
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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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