BSE: 544214 | NSE: | Paper & Paper Products | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Three M Paper Boards Ltd is a below average quality company.
The key valuation ratios of Three M Paper Boards Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Three M Paper Boards 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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 0% | 0% | 0% | 0% | 9.9% | 11.4% | 12.6% | 15.6% | - |
| Value Creation Index ⓘ | NA | NA | NA | NA | -0.3 | -0.2 | -0.1 | 0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||
| Sales ⓘ | 0 | 0 | 0 | 0 | 165 | 313 | 327 | 272 | 272 |
| Sales YoY Gr. | - | NA | NA | NA | NA | 89.5% | 4.6% | -16.8% | - |
| Adj EPS ⓘ | 0 | 0 | 0 | 0 | 1.2 | 1 | 4 | 7.7 | 5.9 |
| YoY Gr. | - | NA | NA | NA | NA | -11.1% | 282.7% | 94% | - |
| BVPS (₹) ⓘ | 0 | 0 | 0 | 0 | 28.5 | 31 | 36.1 | 45.4 | 52.5 |
| Adj Net Profit ⓘ | 0 | 0 | 0 | 0 | 1.5 | 1.4 | 5.2 | 10.4 | 11 |
| Cash Flow from Ops. ⓘ | 0 | 0 | 0 | 0 | 11.9 | -10.3 | 23.5 | 13.9 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 4.5 | -7.6 | 3.5 | 5.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 18.1% | -16.8% | ||||
| Adj EPS ⓘ | NA | NA | 87.6% | 94% | ||||
| BVPSⓘ | NA | NA | 16.8% | 25.8% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0 | 0 | 0 | 0 | 4.1 | 3.5 | 11.9 | 19.2 | 12.1 |
| Op. Profit Mgn % ⓘ | 0 | 0 | 0 | 0 | 8.5 | 4.6 | 5.9 | 8.6 | NAN |
| Net Profit Mgn % ⓘ | 0 | 0 | 0 | 0 | 0.9 | 0.4 | 1.6 | 3.8 | 4.2 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 1.4 | 1.9 | 1.7 | 1.2 | - |
| Working Cap Days ⓘ | 0 | 0 | 0 | 0 | 0 | 104 | 119 | 148 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 0 | 0 | 0 | 0 | 22 | 27 | 41 | 0 |
Return on Equity has increased versus last 3 years average to 12.10%
Sales growth is growing at healthy rate in last 3 years 18.14%
Net Profit is growing at healthy rate in last 3 years 87.56%
Debt to equity has declined versus last 3 years average to 1.19
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.9 | - |
| TTM Sales (₹ Cr.) | 272 | - |
| BVPS (₹.) ⓘ | 52.5 | - |
| Reserves (₹ Cr.) ⓘ | 82 | - |
| P/BV ⓘ | 0.86 | - |
| PE ⓘ | 7.68 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 38.00 / 82.70 |
| All Time Low / High (₹) | 38.00 / 82.70 |
| Market Cap (₹ Cr.) | 87.2 |
| Equity (₹ Cr.) | 19.2 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 11.7 |
| Pledged * | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 165.09 | 312.90 | 327.25 | 272.23 |
| Operating Expenses ⓘ | 151.01 | 298.46 | 308.09 | 248.95 |
| Manufacturing Costs | 44.46 | 78.40 | 89.87 | 69.84 |
| Material Costs | 77.33 | 164.02 | 176.66 | 144.17 |
| Employee Cost | 9.09 | 16.02 | 14.36 | 14.01 |
| Other Costs ⓘ | 20.13 | 40.02 | 27.20 | 20.93 |
| Operating Profit ⓘ | 14.08 | 14.44 | 19.17 | 23.29 |
| Operating Profit Margin (%) | 8.5% | 4.6% | 5.9% | 8.6% |
| Other Income ⓘ | 0.47 | 3.10 | 2.50 | 3.78 |
| Interest ⓘ | 6.66 | 7.33 | 9.64 | 7.46 |
| Depreciation ⓘ | 5.56 | 5.63 | 6.05 | 6.62 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 2.34 | 4.59 | 5.98 | 12.99 |
| Tax ⓘ | 0.61 | 1.32 | -0.64 | 1.64 |
| Profit After Tax | 1.73 | 3.28 | 6.62 | 11.35 |
| PAT Margin (%) | 1.0% | 1.0% | 2.0% | 4.2% |
| Adjusted EPS (₹) | 1.3 | 2.5 | 5.1 | 8.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 37.37 | 40.64 | 47.26 | 61.10 | ||||||
| Share Capital ⓘ | 6.55 | 6.55 | 6.55 | 13.47 | ||||||
| Reserves ⓘ | 30.82 | 34.09 | 40.71 | 47.64 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 48.87 | 69.97 | 75.07 | 65.95 | ||||||
| Long Term Debt | 27.17 | 40.63 | 43.52 | 33.97 | ||||||
| Short Term Debt | 21.70 | 29.34 | 31.55 | 31.98 | ||||||
| Trade Payables | 39.41 | 45.14 | 44.98 | 46.82 | ||||||
| Others Liabilities ⓘ | 16.61 | 25.75 | 22.12 | 21.32 | ||||||
| Total Liabilities ⓘ | 142.26 | 181.50 | 189.43 | 195.20 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 130.69 | 134.31 | 149.23 | 154.53 | ||||||
| Accumulated Depreciation | 59.91 | 65.23 | 71.27 | 78.30 | ||||||
| Net Fixed Assetsⓘ | 70.78 | 69.08 | 77.96 | 76.23 | ||||||
| CWIP ⓘ | 0 | 1 | 0 | 1.83 | ||||||
| Investmentsⓘ | 1.22 | 1.15 | 1.25 | 1.22 | ||||||
| Inventories | 26.70 | 20.48 | 34.17 | 29.39 | ||||||
| Trade Receivables | 28.90 | 46.11 | 42.56 | 54.20 | ||||||
| Cash Equivalents | 0.26 | 1.30 | 5.43 | 0.13 | ||||||
| Others Assetsⓘ | 14.39 | 42.39 | 28.06 | 32.20 | ||||||
| Total Assets ⓘ | 142.26 | 181.50 | 189.43 | 195.20 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 11.93 | -10.32 | 23.53 | 13.94 |
| PBT ⓘ | 2.34 | 4.59 | 5.98 | 12.99 |
| Adjustment ⓘ | 15.05 | 11.36 | 13.62 | 10.74 |
| Changes in Working Capital ⓘ | -5.73 | -26.14 | 3.7 | -7.62 |
| Tax Paid ⓘ | 0.28 | -0.14 | 0.23 | -2.17 |
| Cash Flow From Investing Activity ⓘ | -3.82 | -5.66 | -18.26 | 0.21 |
| Capex | -2.50 | -3.93 | -14.92 | -4.89 |
| Net Investments | -1.39 | -0.79 | -4.40 | 5.35 |
| Others ⓘ | 0.06 | -0.94 | 1.06 | -0.26 |
| Cash Flow From Financing Activityⓘ | -8.14 | 16.16 | -5.45 | -14.15 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 2.50 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -6.66 | -7.33 | -9.64 | -7.46 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | -1.49 | 23.49 | 4.19 | -9.18 |
| Net Cash Flow ⓘ | -0.04 | 0.18 | -0.18 | 0 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.62 | 8.4 | 15.05 | 20.94 | ||||||
| ROCE (%) | 9.9 | 11.38 | 12.61 | 15.56 | ||||||
| Asset Turnover Ratio | 1.16 | 1.93 | 1.76 | 1.42 | ||||||
| PAT to CFO Conversion(x) | 6.9 | -3.15 | 3.55 | 1.23 | Working Capital Days | |||||
| Receivable Days | 64 | 44 | 49 | 65 | ||||||
| Inventory Days | 59 | 28 | 30 | 43 | ||||||
| Payable Days | 186 | 94 | 93 | 116 | ||||||
Three M Paper Boards Limited was incorporated as ‘Three-M-Paper Manufacturing Company Private Limited’ at Mumbai as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated July 26, 1989, issued by the RoC. Pursuant to conversion of the company from private to public, under section 43A(1A) of the Companies Act 1956, the name of the Company was changed from ‘Three-M-Paper Manufacturing Company Private Limited’ to ‘Three-M-Paper Manufacturing Company Limited’ by deleting the word Private, and a fresh certificate of incorporation consequent to change of name was issued on July 01, 1998.
Pursuant to reconversion of the company from public to private, the name of the Company was changed from ‘Three-M-Paper Manufacturing Company Limited’ to ‘Three-M-Paper Manufacturing Company Private Limited’ and a fresh certificate of incorporation consequent to change of name was issued on October 05, 1999. Subsequently, the name of the company was changed from ‘Three-M-Paper Manufacturing Company Private Limited’ to ‘Three M Paper Boards Private Limited’ and a fresh certificate of incorporation issued by RoC recording the change in name was issued on January 11, 2024. Subsequently, the company was converted to a public limited company and the name of the company changed to ‘Three M Paper Boards Limited’ and a fresh certificate of incorporation dated January 29, 2024 was issued by the RoC.
The company is engaged in the business of manufacturing recycled paper-based Duplex Board products used in various packaging applications across industries such as food and beverage, pharmaceuticals, cosmetics, and consumer goods and supplies its high-quality duplex board paper products in both the domestic and international markets. Its products are made out of 100 percent recycled waste paper and are completely biodegradable. The company sets out to undertake various innovations in both the product-development side as well as in manufacturing processes on a consistent basis.
Its product portfolio includes a diverse range of coated boards tailored to meet the specific needs and preferences of its customers. From lightweight folding carton boards to heavy-duty packaging boards, it offers a comprehensive selection of grades, coatings, and finishes to enhance printability, durability, and shelf appeal. Moreover, the portfolio reflects the company's commitment to sustainability, as evidenced by its FSCR certification, ensuring responsible forest management practices. Technological upgrades and a flexible manufacturing facility enable the production of a diverse range of products aligned with market demand. Supported by a strong Pan-India distribution network and numerous dealers, the company maintains a significant market presence, enhancing accessibility nationwide.
Business area of the company
The company is engaged in the business of manufacturing recycled paper in India and the manufacturers of grey back and white back Duplex. The company is also engaged in the activity of generation of Wind Energy.
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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