BSE: 0 | NSE: SYLVANPLY | Wood & Wood Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Sylvan Plyboard (India) Ltd is a below average quality company.
The key valuation ratios of Sylvan Plyboard (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 Sylvan Plyboard (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'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 6.6% | 7.9% | 9.1% | 8.3% | 10.2% | 11.1% | 6.3% | 7.5% | 8.7% | 11.9% | - |
| Value Creation Index ⓘ | -0.5 | -0.4 | -0.4 | -0.4 | -0.3 | -0.2 | -0.6 | -0.5 | -0.4 | -0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 238 | 218 | 237 | 232 | 235 | 239 | 109 | 172 | 198 | 223 | 223 |
| Sales YoY Gr. | - | -8.5% | 8.6% | -2% | 1.3% | 1.8% | -54.4% | 57.8% | 15.3% | 12.7% | - |
| Adj EPS ⓘ | 3.8 | 1.1 | 2.7 | 0.9 | 2.1 | 5.3 | -0.1 | 2 | 3.5 | 3.9 | 3.2 |
| YoY Gr. | - | -71.1% | 142.7% | -68.2% | 143.5% | 153.6% | -102.3% | NA | 72.6% | 11.1% | - |
| BVPS (₹) ⓘ | 45.6 | 46.2 | 48.1 | 49.5 | 53 | 56.2 | 58.5 | 60.7 | 63.2 | 67.4 | 64.1 |
| Adj Net Profit ⓘ | 4.7 | 1.5 | 3.6 | 1.2 | 2.8 | 7.2 | -0.2 | 2.8 | 4.9 | 5.6 | 6 |
| Cash Flow from Ops. ⓘ | -4.7 | -12.7 | 6.9 | 12.4 | -2.8 | 22.7 | 5 | 11 | 9.5 | 12.8 | - |
| Debt/CF from Ops. ⓘ | -6.1 | -4.3 | 6.8 | 3.1 | -18.3 | 1.6 | 9.4 | 4.2 | 5.8 | 4.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -0.7% | -1% | 27% | 12.7% | ||||
| Adj EPS ⓘ | 0.3% | 13.6% | NA | 11.1% | ||||
| BVPSⓘ | 4.4% | 4.9% | 4.8% | 6.6% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 8.3 | 2.5 | 5.7 | 1.8 | 4 | 9.6 | -0.2 | 3.4 | 5.7 | 6.1 | 4.8 |
| Op. Profit Mgn % ⓘ | 5.4 | 5.1 | 5.7 | 4.1 | 4.9 | 7.8 | 7.4 | 6.2 | 7.7 | 8.1 | NAN |
| Net Profit Mgn % ⓘ | 2 | 0.7 | 1.5 | 0.5 | 1.2 | 3 | -0.2 | 1.6 | 2.5 | 2.5 | 2.7 |
| Debt to Equity ⓘ | 0.5 | 0.9 | 0.7 | 0.6 | 0.7 | 0.5 | 0.6 | 0.6 | 0.6 | 0.6 | - |
| Working Cap Days ⓘ | 0 | 211 | 194 | 202 | 220 | 238 | 511 | 316 | 309 | 297 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 104 | 95 | 114 | 100 | 56 | 295 | 210 | 194 | 177 | 0 |
Sales growth is growing at healthy rate in last 3 years 27.04%
Debt to equity has declined versus last 3 years average to 0.57
Return on Equity has declined versus last 3 years average to 4.80%
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 (₹) | 3.2 | - |
| TTM Sales (₹ Cr.) | 223 | - |
| BVPS (₹.) ⓘ | 64.1 | - |
| Reserves (₹ Cr.) ⓘ | 105 | - |
| P/BV ⓘ | 1.30 | - |
| PE ⓘ | 26.55 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 162 |
| Equity (₹ Cr.) | 19.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 53.9 |
| Pledged * | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 238 | 218 | 237 | 232 | 235 | 239 | 109 | 172 | 198 | 223 |
| Operating Expenses ⓘ | 231 | 208 | 224 | 222 | 223 | 220 | 101 | 161 | 185 | 205 |
| Manufacturing Costs | 18 | 14 | 18 | 20 | 11 | 13 | 10 | 10 | 17 | 18 |
| Material Costs | 195 | 177 | 186 | 178 | 183 | 171 | 71 | 119 | 129 | 146 |
| Employee Cost | 5 | 5 | 6 | 6 | 4 | 6 | 7 | 9 | 8 | 10 |
| Other Costs ⓘ | 14 | 13 | 15 | 18 | 26 | 30 | 13 | 23 | 32 | 31 |
| Operating Profit ⓘ | 7 | 10 | 12 | 10 | 11 | 18 | 8 | 11 | 13 | 18 |
| Operating Profit Margin (%) | 2.9% | 4.6% | 5.1% | 4.1% | 4.9% | 7.7% | 7.4% | 6.1% | 6.6% | 8.1% |
| Other Income ⓘ | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 2 |
| Interest ⓘ | 5 | 7 | 6 | 6 | 6 | 7 | 7 | 6 | 7 | 9 |
| Depreciation ⓘ | 2 | 3 | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 2 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 1 | -4 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 1 | 4 | 3 | 6 | 6 | 1 | 4 | 5 | 9 |
| Tax ⓘ | 0 | 0 | 1 | 1 | 2 | 2 | 0 | 1 | 1 | 3 |
| Profit After Tax | 0 | 1 | 3 | 2 | 4 | 4 | 0 | 3 | 4 | 6 |
| PAT Margin (%) | 0.2% | 0.4% | 1.1% | 0.8% | 1.7% | 1.8% | 0.3% | 1.8% | 1.8% | 2.7% |
| Adjusted EPS (₹) | 0.3 | 0.6 | 1.9 | 1.4 | 2.9 | 3.2 | 0.3 | 2.2 | 2.5 | 4.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 56 | 62 | 66 | 68 | 72 | 77 | 80 | 83 | 88 | 96 |
| Share Capital ⓘ | 4 | 4 | 5 | 5 | 5 | 9 | 9 | 9 | 9 | 14 |
| Reserves ⓘ | 52 | 58 | 61 | 63 | 68 | 68 | 71 | 74 | 79 | 82 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 28 | 54 | 46 | 39 | 50 | 37 | 43 | 42 | 51 | 51 |
| Long Term Debt | 1 | 1 | 0 | 0 | 0 | 0 | 8 | 8 | 6 | 5 |
| Short Term Debt | 27 | 53 | 45 | 38 | 50 | 36 | 36 | 34 | 46 | 46 |
| Trade Payables | 75 | 47 | 53 | 49 | 51 | 73 | 34 | 46 | 57 | 62 |
| Others Liabilities ⓘ | 10 | 10 | 5 | 10 | 6 | 7 | 8 | 11 | 7 | 9 |
| Total Liabilities ⓘ | 169 | 173 | 169 | 165 | 180 | 194 | 165 | 181 | 204 | 218 |
Fixed Assets | ||||||||||
| Gross Block | 35 | 35 | 38 | 38 | 39 | 41 | 43 | 45 | 46 | 51 |
| Accumulated Depreciation | 10 | 13 | 16 | 18 | 20 | 22 | 24 | 25 | 26 | 27 |
| Net Fixed Assetsⓘ | 25 | 22 | 22 | 20 | 20 | 20 | 19 | 20 | 20 | 23 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Investmentsⓘ | 11 | 11 | 11 | 11 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 101 | 100 | 108 | 103 | 110 | 120 | 105 | 107 | 132 | 139 |
| Trade Receivables | 26 | 22 | 23 | 26 | 29 | 34 | 29 | 41 | 39 | 40 |
| Cash Equivalents | 0 | 11 | 3 | 1 | 12 | 12 | 4 | 6 | 3 | 10 |
| Others Assetsⓘ | 7 | 6 | 3 | 4 | 10 | 8 | 8 | 8 | 10 | 4 |
| Total Assets ⓘ | 169 | 173 | 169 | 165 | 180 | 194 | 165 | 181 | 204 | 218 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -5 | -13 | 7 | 12 | -3 | 23 | 5 | 11 | 9 | 13 |
| PBT ⓘ | 1 | 1 | 4 | 3 | 5 | 10 | 1 | 4 | 5 | 9 |
| Adjustment ⓘ | 6 | 9 | 10 | 8 | 6 | 8 | 8 | 7 | 9 | 10 |
| Changes in Working Capital ⓘ | -11 | -22 | -5 | 3 | -14 | 12 | -3 | 1 | -3 | -5 |
| Tax Paid ⓘ | 0 | -1 | -2 | -1 | -1 | -2 | -1 | 0 | -1 | -1 |
| Cash Flow From Investing Activity ⓘ | -3 | 0 | -3 | 0 | -4 | -2 | 5 | -3 | -4 | 0 |
| Capex | -3 | -1 | -3 | 0 | -2 | -2 | -1 | -3 | -3 | -6 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 0 | -2 | 4 |
| Others ⓘ | 1 | 1 | 0 | 0 | -2 | 1 | 0 | 0 | 0 | 2 |
| Cash Flow From Financing Activityⓘ | 3 | 24 | -13 | -14 | 3 | -25 | 3 | -5 | -8 | -7 |
| Net Proceeds from Shares ⓘ | 1 | 5 | 1 | 0 | 0 | 0 | 0 | 0 | 2 | 2 |
| Net Proceeds from Borrowing ⓘ | -1 | -1 | 0 | -1 | 0 | 0 | 10 | 0 | -2 | 0 |
| Interest Paid ⓘ | -5 | -7 | -6 | -6 | -6 | -7 | -7 | -6 | -7 | -9 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 8 | 26 | -7 | -7 | 9 | -18 | 0 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | -4 | 11 | -9 | -2 | -3 | -4 | 13 | 3 | -2 | 7 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.75 | 1.34 | 4.14 | 2.87 | 5.73 | 5.84 | 0.47 | 3.76 | 4.13 | 6.61 |
| ROCE (%) | 6.61 | 7.93 | 9.14 | 8.26 | 10.18 | 11.13 | 6.25 | 7.47 | 8.73 | 11.85 |
| Asset Turnover Ratio | 1.45 | 1.32 | 1.44 | 1.45 | 1.36 | 1.28 | 0.61 | 0.99 | 1.03 | 1.06 |
| PAT to CFO Conversion(x) | N/A | -13 | 2.33 | 6 | -0.75 | 5.75 | N/A | 3.67 | 2.25 | 2.17 | Working Capital Days |
| Receivable Days | 38 | 39 | 33 | 37 | 43 | 48 | 106 | 74 | 73 | 64 |
| Inventory Days | 150 | 162 | 154 | 159 | 166 | 175 | 378 | 225 | 219 | 221 |
| Payable Days | 141 | 126 | 98 | 104 | 100 | 133 | 277 | 122 | 145 | 148 |
Sylvan Plyboard (India) limited was originally incorporated as a Private Limited Company in the name of ‘Singh Brothers Exim Private Limited’ on August 02, 2002 under the provisions of Companies Act, 1956 issued by Registrar of Companies - West Bengal. Subsequently the name of the company was changed to ‘Sylvan Plyboard (India) Private Limited’ vide a fresh Certificate of Incorporation consequent upon Change of Name dated March 05, 2013 issued by Registrar of Companies - West Bengal. Subsequently, the company was converted into Public Limited Company under the Companies Act, 2013 and the name of the Company was changed to ‘Sylvan Plyboard (India) Limited’ vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company dated June 19, 2018 issued by Registrar of Companies, Kolkata.
The company is engaged into manufacturing of various wood products such as plywood, block board, flush door, veneer and sawn timber across various grades and thickness. In the year 1951, Jai Prakash Singh (Whole Time Director of the company and father of its promoter) through his proprietorship concern, Singh Brothers & Co., started the business as a trading concern of indigenous timber logs and subsequent selling the same in Indian market. Leveraging the knowledge of timber products and domestic market, in the year 2004, the Company acquired ongoing business of Singh Brothers & Co. (Proprietorship Firm). Over the period, after establishing its selves in trading of timber products, it diversified its activities to manufacturing activities by setting up an integrated manufacturing facility in Baidyabati, West Bengal
It is dedicated to constantly expanding and updating its product range in order to stay ahead in the market. Its range of products under its manufacturing capabilities is summarized as under: Plywood, Block Boards & Flush Doors, Veneer, and Sawn Timber. The company markets its products under the brand name of ‘Sylvan’, through its network of Authorized Dealers and Authorized Sub Dealers.
It has more than many numbers of plywood products in its basket, thickness ranging from 4 mm to 40 mm. The company has large range of product offering to wide range of customers, ‘Sylvan Z+ Premium Plus’ is the most premium plywood product of the Company amongst other offerings in premium segment. It has ‘Robusta Premium’ & ‘Primo Plus’ for middle segment and ‘Sylvan Blu’ which is aimed at lower class segment with a view of addressing the growing demand of cheaper plywood and their alternatives. It also offers Boiling Water Proof (BWP) and Boiling Water Resistant (BWR) plywood. Its range of plywood products caters to various customers across various segments.
Business area of the company
The company is engaged in the business of manufacturing plywood, block board, flush door, veneers and allied products. In addition, it engages in import and trading of timber logs and sawn timber.
Products of the company
History and milestones
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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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