BSE: 514412 | NSE: | Household & Personal Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Sarup Industries Ltd is a below average quality company.
The key valuation ratios of Sarup Industries 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 Sarup Industries 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 % ⓘ | 11.3% | -0.9% | 4.8% | -1.5% | -13.3% | -6.1% | -3.3% | 0.1% | -0.4% | 1.4% | - |
| Value Creation Index ⓘ | -0.2 | -1.1 | -0.7 | -1.1 | -2.0 | -1.4 | NA | NA | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 69.2 | 48.9 | 48.2 | 41.2 | 19.9 | 21.1 | 10 | 12.2 | 9.1 | 11.6 | 15 |
| Sales YoY Gr. | - | -29.3% | -1.5% | -14.5% | -51.8% | 6.2% | -52.8% | 22.2% | -25% | 26.6% | - |
| Adj EPS ⓘ | 6.3 | -7 | 1.5 | -11 | -28.3 | -17.1 | -13.4 | -6.7 | -7.7 | -5.2 | 13.5 |
| YoY Gr. | - | -211.8% | NA | -834.7% | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 76.1 | 68.6 | 69 | 58.4 | 30.3 | 10 | -3.3 | -10 | -17.7 | -23.9 | -10.9 |
| Adj Net Profit ⓘ | 2 | -2.3 | 0.5 | -3.6 | -9.2 | -5.6 | -4.4 | -2.2 | -2.5 | -1.7 | 4 |
| Cash Flow from Ops. ⓘ | 5.3 | -1.7 | 1.4 | 4.6 | 5.1 | -2.7 | -1.2 | 5.5 | 1.7 | 15 | - |
| Debt/CF from Ops. ⓘ | 3.1 | -17.6 | 24.3 | 8.2 | 7.6 | -14.4 | -36.7 | 7.2 | 23.9 | 2.9 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -18% | -10.3% | 5.1% | 26.6% | ||||
| Adj EPS ⓘ | -198.1% | NA | NA | NA | ||||
| BVPSⓘ | -187.9% | -195.4% | NA | NA | ||||
| Share Price | 3% | 19.8% | 53.7% | 77.7% | ||||
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 % ⓘ | 7.8 | -9.7 | 2.2 | -17.3 | -63.8 | -84.6 | -400.1 | 99.8 | 55.5 | 25.2 | -77.6 |
| Op. Profit Mgn % ⓘ | 8.6 | 2.7 | 6 | -0.6 | -29.5 | -7.6 | -4.2 | 6.5 | 1.3 | 10.2 | 18.7 |
| Net Profit Mgn % ⓘ | 2.9 | -4.6 | 1 | -8.7 | -46.3 | -26.3 | -43.7 | -17.8 | -27.3 | -14.7 | 29.1 |
| Debt to Equity ⓘ | 0.7 | 1.4 | 1.6 | 2 | 4 | 11.7 | -38.7 | -12 | -6.9 | -5.5 | - |
| Working Cap Days ⓘ | 232 | 341 | 351 | 393 | 844 | 786 | 1,627 | 1,259 | 1,570 | 1,521 | 789 |
| Cash Conv. Cycle ⓘ | 211 | 285 | 244 | 272 | 606 | 490 | 1,011 | 567 | 783 | 834 | 363 |
Sales growth is good in last 4 quarters at 138.48%
Return on Equity is Poor
Sales growth has been subdued in last 3 years 5.09%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 13.5 | - |
| TTM Sales (₹ Cr.) | 15.1 | - |
| BVPS (₹.) ⓘ | -10.9 | - |
| Reserves (₹ Cr.) ⓘ | -7 | - |
| P/BV ⓘ | -6.81 | - |
| PE ⓘ | 5.49 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 36.60 / 74.10 |
| All Time Low / High (₹) | 12.25 / 140.00 |
| Market Cap (₹ Cr.) | 24.1 |
| Equity (₹ Cr.) | 3.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 60.1 |
| Pledged * | 0.00 | 28.94 | 28.94 | 28.94 | 28.94 | 28.94 | 28.94 | 28.94 | 28.94 | 28.94 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 69.22 | 48.91 | 48.16 | 41.19 | 19.87 | 21.10 | 9.97 | 12.18 | 9.14 | 11.57 |
| Operating Expenses ⓘ | 63.30 | 47.73 | 45.29 | 41.49 | 25.73 | 22.74 | 10.39 | 11.39 | 9.02 | 10.39 |
| Manufacturing Costs | 4.79 | 3.54 | 1.59 | 1.37 | 2.07 | 0.95 | 0.63 | 0.53 | 0.42 | 1.12 |
| Material Costs | 38.71 | 28.69 | 25.51 | 21.66 | 13.03 | 12.71 | 6.27 | 7.71 | 5.11 | 5.51 |
| Employee Cost | 16.66 | 13.47 | 14.22 | 13.62 | 8.88 | 7.06 | 2.53 | 2.47 | 2.78 | 3.13 |
| Other Costs ⓘ | 3.14 | 2.04 | 3.98 | 4.84 | 1.76 | 2.02 | 0.96 | 0.68 | 0.72 | 0.63 |
| Operating Profit ⓘ | 5.91 | 1.18 | 2.87 | -0.30 | -5.86 | -1.64 | -0.42 | 0.79 | 0.12 | 1.17 |
| Operating Profit Margin (%) | 8.5% | 2.4% | 6.0% | -0.7% | -29.5% | -7.8% | -4.2% | 6.5% | 1.3% | 10.1% |
| Other Income ⓘ | 0.54 | 0.16 | 1.46 | 1.34 | 0.42 | 0.15 | 0.07 | 0.13 | 0.56 | 0.04 |
| Interest ⓘ | 2.09 | 2.13 | 2.06 | 2.43 | 2.61 | 2.84 | 2.96 | 2.16 | 2.26 | 2.06 |
| Depreciation ⓘ | 1.82 | 1.75 | 1.73 | 1.90 | 1.61 | 1.26 | 1.03 | 0.87 | 0.82 | 0.74 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 2.54 | -2.53 | 0.54 | -3.28 | -9.66 | -5.59 | -4.33 | -2.12 | -2.41 | -1.59 |
| Tax ⓘ | 0.51 | -0.18 | 0 | 0 | -0.51 | -0.04 | 0.02 | 0.05 | 0.09 | 0.12 |
| Profit After Tax | 2.03 | -2.36 | 0.54 | -3.28 | -9.15 | -5.55 | -4.35 | -2.17 | -2.50 | -1.70 |
| PAT Margin (%) | 2.9% | -4.8% | 1.1% | -8.0% | -46.0% | -26.3% | -43.7% | -17.8% | -27.3% | -14.7% |
| Adjusted EPS (₹) | 6.3 | -7.2 | 1.7 | -10.1 | -28.1 | -17.1 | -13.4 | -6.7 | -7.7 | -5.2 |
| Dividend Payout Ratio (%) | 29% | 0% | 60% | 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 | 24.76 | 22.32 | 22.44 | 19.01 | 9.86 | 3.26 | -1.09 | -3.26 | -5.75 | -7.78 |
| Share Capital ⓘ | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 |
| Reserves ⓘ | 21.51 | 19.07 | 19.19 | 15.75 | 6.60 | 0.01 | -4.34 | -6.51 | -9 | -11.03 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 16.59 | 30.06 | 34.73 | 37.67 | 39.24 | 38.17 | 42.13 | 39.07 | 39.47 | 42.97 |
| Long Term Debt | 4.04 | 15.45 | 34.73 | 37.67 | 24.26 | 23.92 | 33.19 | 30.88 | 31.50 | 36.34 |
| Short Term Debt | 12.54 | 14.62 | 0 | 0 | 14.98 | 14.25 | 8.95 | 8.19 | 7.97 | 6.64 |
| Trade Payables | 8.83 | 10.32 | 10.69 | 8.09 | 11.21 | 13.83 | 13.60 | 14.16 | 15.36 | 15.33 |
| Others Liabilities ⓘ | 13.94 | 11.15 | 10.10 | 9.71 | 14.83 | 16.84 | 16.37 | 15.68 | 14.94 | 14.93 |
| Total Liabilities ⓘ | 64.12 | 73.85 | 77.96 | 74.47 | 75.14 | 72.11 | 71.02 | 65.66 | 64.02 | 65.45 |
Fixed Assets | ||||||||||
| Gross Block | 39.10 | 38.74 | 40.45 | 39.62 | 39.70 | 39.68 | 39.73 | 40 | 40 | 39.46 |
| Accumulated Depreciation | 22.01 | 23.69 | 25.37 | 26.22 | 27.84 | 28.94 | 30 | 30.85 | 31.67 | 32.43 |
| Net Fixed Assetsⓘ | 17.09 | 15.05 | 15.07 | 13.39 | 11.86 | 10.74 | 9.74 | 9.15 | 8.33 | 7.02 |
| CWIP ⓘ | 0.35 | 10.41 | 13.09 | 13.09 | 15.71 | 16 | 16.03 | 16.03 | 16.03 | 0 |
| Investmentsⓘ | 0.43 | 0.43 | 0.71 | 0.71 | 0.40 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 |
| Inventories | 28.94 | 28.41 | 28.19 | 31.19 | 30.95 | 29.33 | 29.10 | 25.53 | 24.43 | 42.94 |
| Trade Receivables | 12.34 | 11.20 | 13.45 | 11.08 | 9.10 | 9.45 | 9.96 | 8.96 | 9.59 | 9.47 |
| Cash Equivalents | 1.28 | 0.90 | 0.51 | 0.71 | 0.69 | 0.63 | 0.53 | 0.57 | 0.38 | 0.72 |
| Others Assetsⓘ | 3.69 | 7.46 | 6.94 | 4.31 | 6.42 | 5.67 | 5.38 | 5.14 | 4.97 | 5.01 |
| Total Assets ⓘ | 64.12 | 73.85 | 77.96 | 74.47 | 75.14 | 72.11 | 71.02 | 65.66 | 64.02 | 65.45 |
| 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 ⓘ | 5.30 | -1.70 | 1.43 | 4.59 | 5.13 | -2.65 | -1.15 | 5.45 | 1.65 | 15.01 |
| PBT ⓘ | 2.54 | -2.53 | 0.54 | -3.28 | -9.66 | -5.59 | -4.35 | -2.17 | -2.50 | -1.70 |
| Adjustment ⓘ | -1.07 | 3.35 | 3.51 | 6.08 | 4.57 | 3.98 | 3.89 | 2.93 | 3.05 | 2.70 |
| Changes in Working Capital ⓘ | 4.26 | -2.13 | -2.33 | 1.8 | 10.23 | -1.04 | -0.69 | 4.68 | 1.1 | 14.02 |
| Tax Paid ⓘ | -0.44 | -0.39 | -0.29 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | -5.99 | -9.65 | -4.67 | -0.34 | -2.71 | -1.26 | -0.06 | -0.28 | 0 | -16.23 |
| Capex | -6.07 | -9.78 | -4.43 | -0.34 | -2.71 | -1.26 | -0.06 | -0.28 | 0 | -0.03 |
| Net Investments | 0 | 0 | -0.28 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0.08 | 0.13 | 0.04 | 0 | 0 | 0 | 0 | 0 | 0 | -16.20 |
| Cash Flow From Financing Activityⓘ | 1.17 | 10.97 | 2.85 | -4.06 | -2.44 | -2.68 | 1.10 | -5.12 | -1.84 | 1.55 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 2.58 | 11.40 | 4.87 | 0 | 0 | 0 | 9.27 | -2.31 | 0.62 | 4.84 |
| Interest Paid ⓘ | -1.85 | -1.81 | -1.81 | -2.16 | -2.44 | -2.68 | -2.87 | -2.06 | -2.23 | -1.96 |
| Dividend Paid ⓘ | -0.59 | -0.59 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1.01 | 1.95 | -0.20 | -1.90 | 0 | 0 | -5.31 | -0.76 | -0.22 | -1.33 |
| Net Cash Flow ⓘ | 0.47 | -0.39 | -0.38 | 0.19 | -0.02 | -6.59 | -0.11 | 0.04 | -0.19 | 0.33 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 7.77 | -10 | 2.43 | -15.85 | -63.41 | -84.64 | N/A | N/A | N/A | N/A |
| ROCE (%) | 11.31 | -0.87 | 4.75 | -1.5 | -13.34 | -6.08 | N/A | N/A | N/A | N/A |
| Asset Turnover Ratio | 1.15 | 0.71 | 0.65 | 0.58 | 0.27 | 0.29 | 0.14 | 0.18 | 0.14 | 0.18 |
| PAT to CFO Conversion(x) | 2.61 | N/A | 2.65 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 60 | 87 | 91 | 101 | 183 | 160 | 355 | 284 | 370 | 301 |
| Inventory Days | 151 | 212 | 208 | 245 | 564 | 521 | 1,070 | 818 | 997 | 1,063 |
| Payable Days | 0 | 47 | 103 | 158 | 270 | 359 | 798 | 657 | 1,054 | 1,015 |
Sarup Tanneries was incorporated in the year 1979 and promoted by Bawa Paramjit Singh. In 2012 the company changed its name from Sarup Tanneries Ltd. to Sarup Industries Ltd.
Various products of the company are supplied to leading shoe manufacturers in Germany, Italy, England, Denmark, Canada, Singapore and Japan. Nearly 85% of the company`s production is exported. In the domestic market, it supplies shoes to Park Avenue.
The manufacturing plants of the company are located in Jalandhar, Punjab. The company has at present 13 franchise offices for retail outlets of Lotus Bawa and plans to open 100 offices in different part of the country. In line with the expansion and diversification plans, the company has tied up with MGF for setting up of a multiplex-cum-shopping mall in Ramdaspura, Jalandhar, located at a prime location in Jalandhar district.
In 2003, the shareholders have approved to delist the equity shares from Ludhiana and Delhi Stock Exchanges.
Business areas of the company:
Sarup manufactures leather shoes, soles and uppers.
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