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BSE: 0 | NSE: DURLAX | Ceramics/Marble/Granite/Sanitaryware | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Durlax Top Surface Ltd is a below average quality company.
The key valuation ratios of Durlax Top Surface 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 Durlax Top Surface 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'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 1.9% | 5.5% | 8.6% | 11.3% | - |
| Value Creation Index ⓘ | -0.9 | -0.6 | -0.4 | -0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 19.6 | 47.4 | 66.7 | 90.8 | 91 |
| Sales YoY Gr. | - | 142.3% | 40.9% | 36% | - |
| Adj EPS ⓘ | -0.7 | 0.4 | 1.7 | 4.1 | 3 |
| YoY Gr. | - | NA | 300% | 136.6% | - |
| BVPS (₹) ⓘ | 9.8 | 10.9 | 13.5 | 17.6 | 36.6 |
| Adj Net Profit ⓘ | -0.9 | 0.5 | 2.1 | 5.1 | 5 |
| Cash Flow from Ops. ⓘ | -2.9 | 1.6 | 3.8 | -16.6 | - |
| Debt/CF from Ops. ⓘ | -13.1 | 25 | 9.6 | -3.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 66.8% | 36% | ||||
| Adj EPS ⓘ | NA | NA | NA | 136.6% | ||||
| BVPSⓘ | NA | NA | 21.6% | 30.4% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | -7.5 | 4.2 | 14.4 | 26.3 | 11.2 |
| Op. Profit Mgn % ⓘ | 23.5 | 14.1 | 11.8 | 12.2 | NAN |
| Net Profit Mgn % ⓘ | -4.5 | 1.1 | 3.2 | 5.6 | 5.6 |
| Debt to Equity ⓘ | 3.2 | 3 | 2.2 | 2.8 | - |
| Working Cap Days ⓘ | 0 | 315 | 288 | 281 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 194 | 164 | 170 | 0 |
Sales growth is growing at healthy rate in last 3 years 66.82%
Debt to equity has declined versus last 3 years average to 2.78
Return on Equity has declined versus last 3 years average to 11.20%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 3 | - |
| TTM Sales (₹ Cr.) | 90.8 | - |
| BVPS (₹.) ⓘ | 36.6 | - |
| Reserves (₹ Cr.) ⓘ | 44 | - |
| P/BV ⓘ | 2.39 | - |
| PE ⓘ | 28.81 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 145 |
| Equity (₹ Cr.) | 16.6 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 51.7 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 20 | 47 | 67 | 91 |
| Operating Expenses ⓘ | 15 | 41 | 59 | 80 |
| Manufacturing Costs | 1 | 1 | 3 | 4 |
| Material Costs | 12 | 37 | 53 | 71 |
| Employee Cost | 1 | 1 | 1 | 1 |
| Other Costs ⓘ | 1 | 2 | 3 | 4 |
| Operating Profit ⓘ | 5 | 7 | 8 | 11 |
| Operating Profit Margin (%) | 23.5% | 14.0% | 11.7% | 12.2% |
| Other Income ⓘ | 0 | 0 | 0 | 0 |
| Interest ⓘ | 3 | 3 | 3 | 4 |
| Depreciation ⓘ | 2 | 3 | 2 | 2 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 0 | 1 | 2 | 5 |
| Tax ⓘ | 1 | 0 | 0 | 0 |
| Profit After Tax | -1 | 0 | 2 | 5 |
| PAT Margin (%) | -4.2% | 1.0% | 3.1% | 5.6% |
| Adjusted EPS (₹) | -0.7 | 0.4 | 1.7 | 4.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 12 | 13 | 17 | 22 | ||||||
| Share Capital ⓘ | 0 | 0 | 12 | 12 | ||||||
| Reserves ⓘ | 11 | 13 | 4 | 9 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 37 | 39 | 37 | 61 | ||||||
| Long Term Debt | 26 | 19 | 17 | 21 | ||||||
| Short Term Debt | 11 | 20 | 20 | 40 | ||||||
| Trade Payables | 6 | 18 | 21 | 21 | ||||||
| Others Liabilities ⓘ | 2 | 2 | 2 | 2 | ||||||
| Total Liabilities ⓘ | 58 | 72 | 77 | 106 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 37 | 37 | 37 | 40 | ||||||
| Accumulated Depreciation | 13 | 16 | 18 | 20 | ||||||
| Net Fixed Assetsⓘ | 24 | 22 | 19 | 20 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | ||||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | ||||||
| Inventories | 25 | 30 | 38 | 49 | ||||||
| Trade Receivables | 5 | 16 | 16 | 30 | ||||||
| Cash Equivalents | 1 | 1 | 1 | 1 | ||||||
| Others Assetsⓘ | 3 | 3 | 2 | 4 | ||||||
| Total Assets ⓘ | 58 | 72 | 77 | 106 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -3 | 2 | 4 | -17 |
| PBT ⓘ | 0 | 1 | 2 | 5 |
| Adjustment ⓘ | 5 | 6 | 5 | 5 |
| Changes in Working Capital ⓘ | -7 | -5 | -4 | -27 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 0 | 0 | 0 | -4 |
| Capex | 0 | 0 | 0 | -3 |
| Net Investments | 0 | 0 | 0 | -1 |
| Others ⓘ | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 3 | -1 | -4 | 21 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 2 | 0 |
| Net Proceeds from Borrowing ⓘ | 5 | -7 | -2 | 3 |
| Interest Paid ⓘ | -2 | -3 | -3 | -3 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 9 | 0 | 20 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -7.13 | 3.95 | 14.13 | 26.2 | ||||||
| ROCE (%) | 5.34 | 7.99 | 10.57 | 13.22 | ||||||
| Asset Turnover Ratio | 0.34 | 0.73 | 0.9 | 1 | ||||||
| PAT to CFO Conversion(x) | N/A | N/A | 2 | -3.4 | Working Capital Days | |||||
| Receivable Days | 95 | 82 | 88 | 92 | ||||||
| Inventory Days | 459 | 211 | 188 | 177 | ||||||
| Payable Days | 196 | 120 | 134 | 108 | ||||||
Durlax Top Surface Limited was originally incorporated as Durlax Archtech Private Limited on May 03, 2010, as a private limited company under the provisions of Companies Act, 1956 pursuant to Certificate of Incorporation issued by RoC, Mumbai, Maharashtra. Further, the name of the company was changed to Durlax India Private Limited vide the Certificate of Incorporation pursuant to change of name dated August 23, 2017, issued by RoC, Mumbai, Maharashtra. Subsequently, the name was changed to Durlax Top Surface Private Limited vide Certificate of Incorporation pursuant to change of name dated January 06, 2023, issued by RoC, Mumbai, Maharashtra. The company was converted into a public limited company pursuant to shareholders resolution passed at the General Meeting of the Company held on January 27, 2023, and the name of the Company was changed to ‘Durlax Top Surface Limited’, and a Fresh Certificate of Incorporation dated March 29, 2023, was issued by RoC, Mumbai, Maharashtra.
The company is engaged in the business of manufacturing of solid surface material, which is sold across India, through an extensive distribution network of distributors and direct customers and also exported to various countries such as Dubai, Bahrain, Greece, Nepal. It operates through two brands namely LUXOR and ASPIRON, which provide a wide range of solid surfaces. Its LUXOR brand offers Acrylic UV Solid Surfaces, while ASPIRON offers Modified Solid Surfaces. Situated in Vapi, its manufacturing facility is equipped with German and South Korean technologies and advanced machinery to produce solid surface materials. It aims to meet the ever-evolving demands of its customers and create functional spaces across various sectors.
Its solid surfaces find applications in residential, commercial, hospitality, healthcare, exterior, and diverse industries, providing stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, outdoor projects, and more. The company is founded by Shravan Suthar and Lalit Suthar, both of whom are certified in interior designing. Shravan Suthar is primarily responsible for client acquisition and retention, diligently working to expand its client base and maintain strong customer relationships, fostering continuous business growth. On the other hand, Lalit Suthar oversees comprehensive business development endeavours, particularly focusing on brand marketing solutions.
Business area of the company
The company is engaged in the business of manufacturing of solid surface material, which is sold across India, through an extensive distribution network of distributors and direct customers and also exported to various countries such as Dubai, Qatar, Greece, Sri Lanka.
Products of the company
History and milestones
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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.
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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