Past 10 year's financial track record analysis by Moneyworks4me indicates that Black Rose Industries Ltd is a good quality company.
The key valuation ratios of Black Rose Industries 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 Black Rose 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 % ⓘ | 7.7% | 11.7% | 19.3% | 28.2% | 30.1% | 35.8% | 39.2% | 36.2% | 8.7% | 21.6% | - |
| Value Creation Index ⓘ | -0.5 | -0.2 | 0.4 | 1.0 | 1.2 | 1.6 | 1.8 | 1.6 | -0.4 | 0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 147 | 129 | 166 | 185 | 213 | 252 | 235 | 341 | 278 | 281 | 309 |
| Sales YoY Gr. | - | -12.5% | 29.1% | 11.3% | 15.4% | 18.2% | -6.8% | 45% | -18.4% | 1.1% | - |
| Adj EPS ⓘ | 0.1 | 0.3 | 1 | 2.2 | 2.6 | 4.1 | 5.2 | 5.9 | 1.2 | 3.9 | 5 |
| YoY Gr. | - | 158.3% | 206.5% | 130.5% | 19.2% | 56.3% | 28.4% | 11.8% | -78.8% | 211.3% | - |
| BVPS (₹) ⓘ | 3.8 | 4.1 | 5 | 6.8 | 9.2 | 12.8 | 17.7 | 23.2 | 23.8 | 27.2 | 27.7 |
| Adj Net Profit ⓘ | 0.6 | 1.6 | 4.9 | 11.2 | 13.3 | 20.8 | 26.8 | 29.9 | 6.3 | 19.7 | 26 |
| Cash Flow from Ops. ⓘ | 0.8 | 5.6 | 5.5 | 11.6 | 10.3 | 16.1 | 13.1 | 9 | 22.7 | 14 | - |
| Debt/CF from Ops. ⓘ | 51.9 | 7.5 | 7.6 | 3.1 | 2.9 | 1.4 | 1.1 | 1.3 | 0.1 | 0.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 7.5% | 5.7% | 6.2% | 1.1% | ||||
| Adj EPS ⓘ | 47.1% | 8.1% | -9.7% | 211.3% | ||||
| BVPSⓘ | 24.5% | 24.2% | 15.5% | 14.7% | ||||
| Share Price | 19.7% | 4.6% | -14.4% | -16.1% | ||||
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 | 8 | 21 | 37.1 | 32.6 | 37.1 | 34.4 | 28.7 | 5.3 | 15.1 | 18.2 |
| Op. Profit Mgn % ⓘ | 4.6 | 7.5 | 8.8 | 11.5 | 11 | 12.7 | 16.8 | 12.6 | 4.6 | 9.9 | 8.7 |
| Net Profit Mgn % ⓘ | 0.4 | 1.2 | 2.9 | 6 | 6.2 | 8.3 | 11.4 | 8.8 | 2.3 | 7 | 8.2 |
| Debt to Equity ⓘ | 2.2 | 2 | 1.7 | 1 | 0.6 | 0.3 | 0.2 | 0.1 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 122 | 135 | 122 | 135 | 128 | 133 | 170 | 140 | 160 | 139 | 69 |
| Cash Conv. Cycle ⓘ | 28 | 45 | 47 | 51 | 54 | 48 | 71 | 70 | 96 | 86 | 48 |
Return on Equity has increased versus last 3 years average to 18.20%
Sales growth has been subdued in last 3 years 6.15%
Net Profit has been subdued in last 3 years -9.69%
Sales growth is not so good in last 4 quarters at 5.55%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5 | 4 |
| TTM Sales (₹ Cr.) | 309 | 431 |
| BVPS (₹.) ⓘ | 27.7 | 27.7 |
| Reserves (₹ Cr.) ⓘ | 149 | 136 |
| P/BV ⓘ | 4.58 | 4.56 |
| PE ⓘ | 25.33 | 31.39 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 118.00 / 162.00 |
| All Time Low / High (₹) | 0.05 / 239.00 |
| Market Cap (₹ Cr.) | 645 |
| Equity (₹ Cr.) | 5.1 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 62.3 |
| 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 | 147 | 129 | 166 | 185 | 213 | 252 | 235 | 341 | 278 | 281 |
| Operating Expenses ⓘ | 140 | 119 | 152 | 164 | 190 | 220 | 196 | 298 | 265 | 253 |
| Manufacturing Costs | 5 | 6 | 8 | 7 | 9 | 10 | 8 | 9 | 8 | 11 |
| Material Costs | 129 | 104 | 134 | 145 | 169 | 196 | 172 | 268 | 231 | 217 |
| Employee Cost | 3 | 3 | 3 | 4 | 4 | 5 | 6 | 7 | 9 | 8 |
| Other Costs ⓘ | 4 | 6 | 7 | 8 | 8 | 9 | 10 | 13 | 18 | 18 |
| Operating Profit ⓘ | 7 | 9 | 15 | 21 | 23 | 32 | 39 | 43 | 13 | 28 |
| Operating Profit Margin (%) | 4.5% | 7.4% | 8.8% | 11.5% | 11.0% | 12.7% | 16.8% | 12.6% | 4.6% | 9.9% |
| Other Income ⓘ | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 2 | 1 | 4 |
| Interest ⓘ | 5 | 5 | 5 | 4 | 4 | 3 | 2 | 1 | 2 | 1 |
| Depreciation ⓘ | 3 | 3 | 3 | 2 | 2 | 2 | 3 | 3 | 3 | 3 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -1 | 2 | 8 | 15 | 19 | 26 | 36 | 41 | 9 | 27 |
| Tax ⓘ | -1 | 1 | 3 | 4 | 5 | 6 | 9 | 10 | 2 | 7 |
| Profit After Tax | 1 | 2 | 5 | 11 | 13 | 20 | 27 | 30 | 7 | 20 |
| PAT Margin (%) | 0.4% | 1.2% | 3.0% | 6.0% | 6.2% | 7.9% | 11.4% | 8.9% | 2.4% | 7.3% |
| Adjusted EPS (₹) | 0.1 | 0.3 | 1.0 | 2.2 | 2.6 | 3.9 | 5.2 | 6.0 | 1.3 | 4.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 10% | 7% | 12% | 9% | 9% | 13% | 43% | 16% |
| 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 | 19 | 21 | 25 | 35 | 47 | 65 | 90 | 118 | 121 | 139 |
| Share Capital ⓘ | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves ⓘ | 14 | 16 | 20 | 30 | 42 | 60 | 85 | 113 | 116 | 134 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 40 | 39 | 39 | 32 | 26 | 20 | 13 | 11 | 2 | 2 |
| Long Term Debt | 21 | 20 | 20 | 14 | 11 | 5 | 0 | 1 | 0 | 0 |
| Short Term Debt | 20 | 19 | 19 | 18 | 15 | 15 | 13 | 10 | 2 | 1 |
| Trade Payables | 27 | 17 | 29 | 27 | 25 | 44 | 29 | 30 | 21 | 32 |
| Others Liabilities ⓘ | 5 | 7 | 12 | 15 | 20 | 21 | 28 | 39 | 11 | 17 |
| Total Liabilities ⓘ | 91 | 84 | 105 | 108 | 117 | 149 | 161 | 199 | 156 | 190 |
Fixed Assets | ||||||||||
| Gross Block | 51 | 51 | 52 | 52 | 53 | 59 | 60 | 64 | 70 | 73 |
| Accumulated Depreciation | 10 | 13 | 16 | 18 | 20 | 22 | 25 | 27 | 30 | 32 |
| Net Fixed Assetsⓘ | 41 | 38 | 36 | 34 | 33 | 37 | 35 | 37 | 40 | 41 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 2 | 7 | 8 | 8 | 7 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 |
| Inventories | 16 | 15 | 25 | 26 | 33 | 39 | 45 | 46 | 30 | 38 |
| Trade Receivables | 28 | 23 | 30 | 34 | 28 | 47 | 44 | 66 | 59 | 65 |
| Cash Equivalents | 1 | 1 | 3 | 4 | 5 | 5 | 5 | 5 | 12 | 11 |
| Others Assetsⓘ | 7 | 8 | 12 | 11 | 18 | 20 | 24 | 36 | 7 | 15 |
| Total Assets ⓘ | 91 | 84 | 105 | 108 | 117 | 149 | 161 | 199 | 156 | 190 |
| 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 ⓘ | 1 | 6 | 6 | 12 | 10 | 16 | 13 | 9 | 23 | 14 |
| PBT ⓘ | -1 | 2 | 7 | 15 | 19 | 26 | 36 | 41 | 9 | 27 |
| Adjustment ⓘ | 7 | 6 | 7 | 6 | 4 | 6 | 3 | 3 | 5 | 2 |
| Changes in Working Capital ⓘ | -5 | -3 | -7 | -6 | -6 | -10 | -19 | -22 | 11 | -8 |
| Tax Paid ⓘ | 0 | 0 | -1 | -4 | -6 | -7 | -7 | -12 | -2 | -7 |
| Cash Flow From Investing Activity ⓘ | -1 | 0 | 0 | 0 | 0 | -7 | -5 | -6 | -12 | -10 |
| Capex | -1 | 0 | -1 | 0 | -1 | -8 | -6 | -6 | -6 | -3 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -7 | -9 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 2 |
| Cash Flow From Financing Activityⓘ | 1 | -6 | -4 | -11 | -9 | -9 | -8 | -4 | -11 | -2 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -4 | 0 | 0 | 0 |
| Interest Paid ⓘ | -4 | -4 | -4 | -4 | -3 | -2 | -1 | -1 | -2 | -1 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 5 | -2 | 0 | -7 | -6 | -6 | -2 | -3 | -9 | -1 |
| Net Cash Flow ⓘ | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 2 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 2.91 | 7.88 | 21.47 | 37.12 | 32.52 | 35.56 | 34.43 | 29.24 | 5.49 | 15.71 |
| ROCE (%) | 7.7 | 11.69 | 19.25 | 28.15 | 30.11 | 35.82 | 39.15 | 36.19 | 8.72 | 21.59 |
| Asset Turnover Ratio | 1.61 | 1.47 | 1.76 | 1.73 | 1.89 | 1.89 | 1.52 | 1.89 | 1.57 | 1.63 |
| PAT to CFO Conversion(x) | 1 | 3 | 1.2 | 1.09 | 0.77 | 0.8 | 0.48 | 0.3 | 3.29 | 0.7 | Working Capital Days |
| Receivable Days | 62 | 72 | 58 | 63 | 53 | 54 | 70 | 59 | 82 | 80 |
| Inventory Days | 42 | 43 | 43 | 50 | 51 | 52 | 65 | 49 | 50 | 44 |
| Payable Days | 80 | 78 | 63 | 70 | 56 | 64 | 78 | 41 | 41 | 45 |
Black Rose Industries, earlier known as Asia Fab was incorporated in the year 1990 and got its present name on January 15, 2007. The registered office of the company is located at Nariman Point, Mumbai.
The company is part of a $100 million, multi-faceted organization, with a strong global network capable of meeting the needs of the Indian chemical industry. It has two main divisions i.e., chemicals and textiles. The chemical division is engaged in the import, distribution, and exports of a wide range of fine and specialty chemicals.
The company’s textile division has an installed capacity of 9,907 meters of fabric per day at its Hatkanagale (Maharashtra) plant. It exports products to European and Middle East countries.
In 2010 Black Rose Industries enters into Foreign Technology License Agreement .
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