BSE: 526901 | NSE: | Plastic Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Sonal Adhesives Ltd is a below average quality company.
The key valuation ratios of Sonal Adhesives Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Sonal Adhesives 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 % ⓘ | 11.5% | -11.1% | -16.9% | -15.5% | -5.7% | -9.1% | -4.5% | 63.7% | 40.4% | 25.2% | - |
| Value Creation Index ⓘ | -0.2 | -1.8 | -2.2 | -2.1 | NA | NA | NA | 3.6 | 1.9 | 0.8 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 43.3 | 24.4 | 27.2 | 43.7 | 37.4 | 32.2 | 17 | 58.7 | 83.3 | 101 | 104 |
| Sales YoY Gr. | - | -43.5% | 11.3% | 60.6% | -14.4% | -14% | -47.3% | 245.8% | 42.1% | 20.8% | - |
| Adj EPS ⓘ | -0.1 | -4.9 | -4.8 | -6.6 | -2.2 | -4 | -1.3 | 9.2 | 3.6 | 2.7 | 2.5 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | -60.6% | -25.1% | - |
| BVPS (₹) ⓘ | 16 | 11.6 | 6.5 | 0.3 | -1.4 | -4.5 | -5.8 | 5.1 | 8.8 | 11.9 | 13.7 |
| Adj Net Profit ⓘ | -0.1 | -3 | -2.9 | -4 | -1.3 | -2.4 | -0.8 | 5.6 | 2.2 | 1.7 | 2 |
| Cash Flow from Ops. ⓘ | -6.2 | 2.1 | 0.2 | 0.7 | -3.8 | -1.3 | 3.6 | 18.8 | -1.1 | -0.5 | - |
| Debt/CF from Ops. ⓘ | -4 | 9.7 | 98.3 | 31.2 | -6.4 | -19.9 | 6.2 | 0.1 | -4.8 | -13.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 9.8% | 21.9% | 81.1% | 20.8% | ||||
| Adj EPS ⓘ | NA | NA | NA | -25.1% | ||||
| BVPSⓘ | -3.2% | NA | NA | 34.8% | ||||
| Share Price | 24.5% | 59.6% | 107.4% | -20.9% | ||||
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 % ⓘ | -0.7 | -35.4 | -52.8 | -192.8 | 398.2 | 134 | 25 | -2462.6 | 52.2 | 26.2 | 19.7 |
| Op. Profit Mgn % ⓘ | 7.3 | -14 | -12.5 | -7 | -2.6 | -6.6 | -3.8 | 0.9 | 3.7 | 2.9 | 3.1 |
| Net Profit Mgn % ⓘ | -0.2 | -12.1 | -10.7 | -9.1 | -3.6 | -7.4 | -4.6 | 9.5 | 2.6 | 1.6 | 1.5 |
| Debt to Equity ⓘ | 2.6 | 2.9 | 5.2 | 118.9 | -28.7 | -9.7 | -6.3 | 0.8 | 1 | 1 | 0.4 |
| Working Cap Days ⓘ | 268 | 443 | 328 | 181 | 213 | 262 | 474 | 132 | 99 | 95 | 43 |
| Cash Conv. Cycle ⓘ | 131 | 257 | 154 | 68 | 63 | 62 | 87 | 10 | 6 | 20 | 1 |
Return on Equity has increased versus last 3 years average to 19.70%
Sales growth is growing at healthy rate in last 3 years 81.05%
Sales growth is good in last 4 quarters at 15.17%
Net Profit has been subdued in last 3 years 0.00%
Debt to equity has increased versus last 3 years average to 1.01
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 2.5 | - |
| TTM Sales (₹ Cr.) | 104 | - |
| BVPS (₹.) ⓘ | 13.7 | - |
| Reserves (₹ Cr.) ⓘ | 2 | - |
| P/BV ⓘ | 4.76 | - |
| PE ⓘ | 25.81 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 58.75 / 113.90 |
| All Time Low / High (₹) | 1.00 / 170.55 |
| Market Cap (₹ Cr.) | 39.5 |
| Equity (₹ Cr.) | 6.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 43 |
| 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 | 43.28 | 24.44 | 27.19 | 43.66 | 37.38 | 32.15 | 16.96 | 58.65 | 83.32 | 100.65 |
| Operating Expenses ⓘ | 40.12 | 27.86 | 30.88 | 46.73 | 38.37 | 34.28 | 17.81 | 58.21 | 80.28 | 97.78 |
| Manufacturing Costs | 3.88 | 3.36 | 3.34 | 4.81 | 4.77 | 3.96 | 2.51 | 4.59 | 7.85 | 9.63 |
| Material Costs | 33.90 | 22.97 | 25.49 | 39.30 | 32.22 | 28.94 | 14.17 | 52.14 | 70.25 | 84.61 |
| Employee Cost | 0.49 | 0.46 | 0.54 | 0.43 | 0.43 | 0.39 | 0.38 | 0.32 | 0.36 | 0.39 |
| Other Costs ⓘ | 1.85 | 1.07 | 1.51 | 2.19 | 0.96 | 0.99 | 0.75 | 1.17 | 1.81 | 3.14 |
| Operating Profit ⓘ | 3.16 | -3.42 | -3.69 | -3.07 | -1 | -2.13 | -0.85 | 0.44 | 3.05 | 2.87 |
| Operating Profit Margin (%) | 7.3% | -14.0% | -13.6% | -7.0% | -2.7% | -6.6% | -5.0% | 0.8% | 3.7% | 2.9% |
| Other Income ⓘ | 0.99 | 0.72 | 0.05 | 0.36 | 0.50 | 0.74 | 0.59 | 7.96 | 0.80 | 0.99 |
| Interest ⓘ | 2.82 | 0.26 | 0.01 | 0.01 | 0.15 | 0.39 | 0 | 0.01 | 0.20 | 0.67 |
| Depreciation ⓘ | 0.78 | 0.75 | 0.76 | 0.76 | 0.75 | 0.75 | 0.69 | 0.67 | 0.63 | 0.70 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 0.55 | -3.70 | -4.42 | -3.48 | -1.39 | -2.54 | -0.95 | 7.72 | 3.02 | 2.49 |
| Tax ⓘ | 0.09 | -1.07 | -1.30 | 0.30 | -0.37 | -0.66 | -0.12 | 2.11 | 0.76 | 0.64 |
| Profit After Tax | 0.46 | -2.63 | -3.11 | -3.78 | -1.02 | -1.88 | -0.82 | 5.61 | 2.27 | 1.85 |
| PAT Margin (%) | 1.1% | -10.8% | -11.5% | -8.7% | -2.7% | -5.8% | -4.9% | 9.6% | 2.7% | 1.8% |
| Adjusted EPS (₹) | 0.8 | -4.4 | -5.1 | -6.2 | -1.7 | -3.1 | -1.4 | 9.3 | 3.7 | 3.1 |
| 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 | 9.67 | 7.04 | 3.95 | 0.17 | -0.84 | -2.73 | -3.53 | 3.08 | 5.35 | 7.21 |
| Share Capital ⓘ | 6.06 | 6.06 | 6.06 | 6.06 | 6.06 | 6.06 | 6.06 | 6.06 | 6.06 | 6.06 |
| Reserves ⓘ | 3.61 | 0.98 | -2.11 | -5.89 | -6.90 | -8.79 | -9.59 | -2.98 | -0.71 | 1.15 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 23.54 | 20.40 | 20.45 | 20.15 | 24.07 | 26.34 | 22.40 | 2.27 | 5.14 | 6.85 |
| Long Term Debt | 1.38 | 0.05 | 0.03 | 0.05 | 0.01 | 0 | 0 | 0.15 | 0.34 | 1.06 |
| Short Term Debt | 22.16 | 20.36 | 20.42 | 20.10 | 24.07 | 26.34 | 22.40 | 2.12 | 4.80 | 5.79 |
| Trade Payables | 7.67 | 7.22 | 7.23 | 6.43 | 6.69 | 5.48 | 5.13 | 16.36 | 12.82 | 15.41 |
| Others Liabilities ⓘ | 4.66 | 1.45 | -0.21 | -0.46 | -0.18 | -1.36 | 2.82 | 2.68 | 6.12 | 3.64 |
| Total Liabilities ⓘ | 45.54 | 36.12 | 31.42 | 26.29 | 29.74 | 27.72 | 26.82 | 24.40 | 29.43 | 33.12 |
Fixed Assets | ||||||||||
| Gross Block | 10.14 | 10.24 | 10.54 | 10.71 | 10.71 | 11.46 | 11.47 | 11.75 | 12.42 | 13.88 |
| Accumulated Depreciation | 2.87 | 3.59 | 4.35 | 5.11 | 5.82 | 6.57 | 7.26 | 7.93 | 8.56 | 9.26 |
| Net Fixed Assetsⓘ | 7.27 | 6.65 | 6.19 | 5.60 | 4.90 | 4.89 | 4.21 | 3.81 | 3.86 | 4.62 |
| CWIP ⓘ | 0 | 0 | 0 | 0.24 | 0.24 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 11.59 | 5.64 | 2.77 | 4.09 | 2.85 | 1.37 | 1.23 | 11.41 | 13.13 | 11.15 |
| Trade Receivables | 19.63 | 17.76 | 13.53 | 8.91 | 9.78 | 8.53 | 7.36 | 2.68 | 6.28 | 10.07 |
| Cash Equivalents | 2.46 | 0.86 | 0.82 | 0.73 | 0.64 | 0.63 | 0.69 | 0.05 | 1.01 | 0.44 |
| Others Assetsⓘ | 4.59 | 5.21 | 8.11 | 6.73 | 11.33 | 12.30 | 13.33 | 6.45 | 5.16 | 6.85 |
| Total Assets ⓘ | 45.54 | 36.12 | 31.42 | 26.29 | 29.74 | 27.72 | 26.82 | 24.40 | 29.43 | 33.12 |
| 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 ⓘ | -6.15 | 2.11 | 0.21 | 0.65 | -3.79 | -1.33 | 3.63 | 18.76 | -1.09 | -0.53 |
| PBT ⓘ | 0.55 | -3.70 | -4.42 | -3.48 | -1.39 | -2.54 | -0.95 | 7.72 | 3.02 | 2.49 |
| Adjustment ⓘ | 2.89 | 0.61 | 0.75 | 0.75 | 0.88 | 1.14 | 0.31 | 0.68 | 0.82 | 1.36 |
| Changes in Working Capital ⓘ | -9.6 | 5.21 | 4 | 3.39 | -3.28 | 0.07 | 4.27 | 10.36 | -4.92 | -4.33 |
| Tax Paid ⓘ | 0 | 0 | -0.12 | 0 | 0 | 0 | 0 | 0 | -0.01 | -0.05 |
| Cash Flow From Investing Activity ⓘ | -0.18 | 0.08 | -0.28 | -0.33 | 0.02 | -0.45 | 0.37 | 1.37 | -1.67 | -1.16 |
| Capex | -0.18 | 0.08 | -0.31 | -0.41 | -0.04 | -0.51 | -0.01 | -0.28 | -0.67 | -1.47 |
| Net Investments | 0 | 0 | 0.01 | 0.05 | 0.05 | 0.05 | 0 | 0.64 | -1.01 | 0.30 |
| Others ⓘ | 0 | 0 | 0.02 | 0.03 | 0.01 | 0 | 0.39 | 1.01 | 0.01 | 0.01 |
| Cash Flow From Financing Activityⓘ | 6.80 | -3.80 | -0.05 | -0.09 | 3.73 | 1.82 | -3.94 | -20.13 | 2.72 | 1.41 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -1.50 | -1.34 | -0.02 | 0.02 | -0.04 | -0.01 | 0 | 0.15 | 0.19 | 0.72 |
| Interest Paid ⓘ | -2.30 | -0.14 | -0.01 | -0.01 | -0.15 | -0.39 | 0 | -0.01 | -0.20 | -0.67 |
| Dividend Paid ⓘ | 0 | 0 | 0 | -0.05 | -0.05 | -0.05 | 0 | 0 | 0 | 0 |
| Others ⓘ | 10.60 | -2.32 | -0.03 | -0.06 | 3.96 | 2.27 | -3.94 | -20.27 | 2.73 | 1.36 |
| Net Cash Flow ⓘ | 0.48 | -1.60 | -0.12 | 0.22 | -0.04 | 0.04 | 0.06 | 0 | -0.05 | -0.27 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.83 | -31.53 | -56.7 | -183.6 | N/A | N/A | N/A | 0 | 53.73 | 29.52 |
| ROCE (%) | 11.52 | -11.11 | -16.94 | -15.45 | N/A | N/A | N/A | 63.73 | 40.35 | 25.17 |
| Asset Turnover Ratio | 1.05 | 0.65 | 0.87 | 1.54 | 1.33 | 1.12 | 0.62 | 2.29 | 3.1 | 3.22 |
| PAT to CFO Conversion(x) | -13.37 | N/A | N/A | N/A | N/A | N/A | N/A | 3.34 | -0.48 | -0.29 | Working Capital Days |
| Receivable Days | 141 | 257 | 193 | 92 | 91 | 104 | 171 | 31 | 20 | 30 |
| Inventory Days | 92 | 119 | 52 | 28 | 34 | 24 | 28 | 39 | 54 | 44 |
| Payable Days | 117 | 118 | 103 | 63 | 74 | 77 | 137 | 75 | 76 | 61 |
Sonal Adhesives, established in 1991 is a leading manufacturer in India specializing in the manufacture of synthetic (plastic) ropes and OPP self adhesive tapes. With three factories and subsidiary companies, the company has about 12 years’ experience in the production of plastic ropes, OPP Self Adhesive Tapes and Acrylic adhesives. State of the art equipment and a well committed team of qualified personnel contribute to the high quality of their products. Their 'SONAL' brand is well known in India. Their sister concern, Sonal Impex Limited is a Government of India recognized Export House since 1980. More than 80% of their products are exported to the Middle East, United Kingdom, USA, Gulf and Africa. They are well accepted for excellent quality as well as the competitive price.
It is one of the largest manufacturers of the Self Adhesive Tapes in India, using the latest machines and technology with installed capacity of 5 million square meters. There are two manufacturing units, one situated in Khopoli and the other at Silvassa. The quality is internationally accepted as 50% of the goods are exported to countries like UK, USA, UAE and Australia under the brand name SONAL. In India the marketing is looked after by seven branch offices and a wide dealer network
Sonal Adhesive Tapes are manufactured from BOPP (Biaxially Oriented Polypropylene) film coated with water based acrylic adhesive. The water based acrylic is the latest advancement in adhesive technology.
Products manufactured by the company:
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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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