BSE: 500207 | NSE: INDORAMA | Textile - Manmade Fibres | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Indo Rama Synthetics (India) Ltd is a below average quality company.
The key valuation ratios of Indo Rama Synthetics (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 Indo Rama Synthetics (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'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 0.9% | -4.6% | -5.4% | -3.8% | -36.3% | -11.6% | 9.8% | 34.9% | 3.7% | -2.6% | - |
| Value Creation Index ⓘ | -0.9 | -1.3 | -1.4 | -1.3 | -3.6 | -1.8 | -0.3 | 1.5 | -0.7 | -1.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 2,761 | 2,536 | 2,468 | 2,256 | 1,695 | 2,108 | 2,023 | 3,901 | 3,906 | 3,707 | 3,469 |
| Sales YoY Gr. | - | -8.2% | -2.7% | -8.6% | -24.9% | 24.4% | -4% | 92.9% | 0.1% | -5.1% | - |
| Adj EPS ⓘ | -1.4 | 4 | -7.1 | -5.1 | -15.2 | -12 | 4.6 | 10.2 | -0.7 | -5.3 | -5.6 |
| YoY Gr. | - | NA | -276.5% | NA | NA | NA | NA | 121.6% | -106.5% | NA | - |
| BVPS (₹) ⓘ | 35.5 | 39.8 | 33.1 | 27.6 | 13.5 | 8.5 | 12.8 | 23 | 22.1 | 16.6 | 14.7 |
| Adj Net Profit ⓘ | -21.2 | 60.8 | -107 | -77.4 | -270 | -314 | 120 | 265 | -17.3 | -139 | -145 |
| Cash Flow from Ops. ⓘ | 182 | 127 | 39.2 | 28.1 | -211 | -118 | 181 | 198 | -65.8 | -165 | - |
| Debt/CF from Ops. ⓘ | 2.1 | 2.5 | 7.8 | 13.1 | -2.7 | -4 | 2.1 | 1.5 | -10.1 | -6.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 3.3% | 17% | 22.4% | -5.1% | ||||
| Adj EPS ⓘ | NA | NA | -205% | NA | ||||
| BVPSⓘ | -8.1% | 4.2% | 9.2% | -24.7% | ||||
| Share Price | 6.8% | 8.1% | -6.7% | -31.9% | ||||
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 % ⓘ | -3.7 | 10.5 | -19.4 | -16.8 | -81.8 | -135.6 | 43.2 | 57 | -3 | -27.5 | -35.5 |
| Op. Profit Mgn % ⓘ | 1.9 | 0.6 | -3.3 | 1.2 | -5.7 | -1.5 | 4.1 | 7.4 | 0.9 | -0.4 | 0.1 |
| Net Profit Mgn % ⓘ | -0.8 | 2.4 | -4.4 | -3.4 | -16 | -14.9 | 5.9 | 6.8 | -0.4 | -3.8 | -4.2 |
| Debt to Equity ⓘ | 0.7 | 0.5 | 0.6 | 0.9 | 2.4 | 2.1 | 1.1 | 0.5 | 1.2 | 2.3 | 0.6 |
| Working Cap Days ⓘ | 102 | 106 | 101 | 98 | 124 | 115 | 136 | 86 | 101 | 121 | 65 |
| Cash Conv. Cycle ⓘ | -2 | -23 | -50 | -66 | -75 | -46 | -62 | -39 | -32 | -35 | -34 |
Sales growth is growing at healthy rate in last 3 years 22.37%
Return on Equity is Poor
Debt to equity has increased versus last 3 years average to 2.31
Sales growth is not so good in last 4 quarters at -4.33%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -5.6 | -7.8 |
| TTM Sales (₹ Cr.) | 3,469 | 3,739 |
| BVPS (₹.) ⓘ | 14.7 | 11.7 |
| Reserves (₹ Cr.) ⓘ | 122 | 44 |
| P/BV ⓘ | 2.65 | 3.33 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 37.50 / 67.03 |
| All Time Low / High (₹) | 4.55 / 116.67 |
| Market Cap (₹ Cr.) | 1,016 |
| Equity (₹ Cr.) | 261.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 23.5 |
| 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 | 2,761 | 2,536 | 2,468 | 2,256 | 1,695 | 2,108 | 2,023 | 3,901 | 3,906 | 3,707 |
| Operating Expenses ⓘ | 2,708 | 2,553 | 2,548 | 2,230 | 1,794 | 2,141 | 1,941 | 3,614 | 3,874 | 3,727 |
| Manufacturing Costs | 290 | 272 | 309 | 282 | 186 | 300 | 293 | 439 | 539 | 408 |
| Material Costs | 2,157 | 1,970 | 1,947 | 1,681 | 1,333 | 1,604 | 1,419 | 2,835 | 3,046 | 3,070 |
| Employee Cost | 92 | 106 | 105 | 85 | 78 | 90 | 90 | 108 | 114 | 117 |
| Other Costs ⓘ | 169 | 205 | 188 | 183 | 198 | 148 | 139 | 233 | 174 | 131 |
| Operating Profit ⓘ | 54 | -17 | -80 | 25 | -100 | -33 | 82 | 287 | 32 | -20 |
| Operating Profit Margin (%) | 1.9% | -0.7% | -3.3% | 1.1% | -5.9% | -1.6% | 4.1% | 7.3% | 0.8% | -0.5% |
| Other Income ⓘ | 79 | 84 | 118 | 35 | 7 | 32 | 32 | 24 | 38 | 19 |
| Interest ⓘ | 43 | 54 | 91 | 94 | 131 | 92 | 66 | 62 | 59 | 107 |
| Depreciation ⓘ | 117 | 78 | 79 | 83 | 83 | 86 | 34 | 31 | 31 | 34 |
| Exceptional Items ⓘ | -6 | -31 | -5 | -7 | -115 | 0 | -12 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -34 | -96 | -138 | -125 | -422 | -180 | 3 | 218 | -19 | -142 |
| Tax ⓘ | -12 | -132 | -54 | -42 | -151 | 136 | -110 | -50 | 0 | 0 |
| Profit After Tax | -22 | 36 | -84 | -83 | -271 | -316 | 113 | 268 | -19 | -142 |
| PAT Margin (%) | -0.8% | 1.4% | -3.4% | -3.7% | -16.0% | -15.0% | 5.6% | 6.9% | -0.5% | -3.8% |
| Adjusted EPS (₹) | -1.4 | 2.4 | -5.5 | -5.5 | -15.2 | -12.1 | 4.3 | 10.3 | -0.7 | -5.4 |
| Dividend Payout Ratio (%) | -71% | 43% | 0% | 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 | 554 | 604 | 502 | 420 | 241 | 222 | 333 | 599 | 577 | 434 |
| Share Capital ⓘ | 152 | 152 | 152 | 152 | 178 | 261 | 261 | 261 | 261 | 261 |
| Reserves ⓘ | 402 | 452 | 350 | 268 | 63 | -39 | 72 | 338 | 316 | 173 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 313 | 276 | 249 | 290 | 514 | 399 | 304 | 195 | 603 | 777 |
| Long Term Debt | 108 | 99 | 81 | 37 | 222 | 307 | 233 | 145 | 358 | 100 |
| Short Term Debt | 205 | 178 | 168 | 253 | 292 | 93 | 71 | 50 | 245 | 678 |
| Trade Payables | 543 | 735 | 704 | 624 | 579 | 552 | 854 | 1,000 | 1,088 | 988 |
| Others Liabilities ⓘ | 445 | 288 | 206 | 174 | 116 | 306 | 43 | 40 | -3 | 157 |
| Total Liabilities ⓘ | 1,854 | 1,904 | 1,660 | 1,508 | 1,451 | 1,480 | 1,534 | 1,835 | 2,266 | 2,356 |
Fixed Assets | ||||||||||
| Gross Block | 3,218 | 1,009 | 1,051 | 1,076 | 1,078 | 1,107 | 1,125 | 1,165 | 1,256 | 1,379 |
| Accumulated Depreciation | 2,280 | 74 | 153 | 236 | 319 | 404 | 437 | 468 | 474 | 503 |
| Net Fixed Assetsⓘ | 939 | 935 | 898 | 840 | 759 | 703 | 688 | 697 | 782 | 876 |
| CWIP ⓘ | 3 | 17 | 11 | 3 | 2 | 7 | 9 | 32 | 110 | 70 |
| Investmentsⓘ | 44 | 61 | 1 | 1 | 0 | 1 | 3 | 6 | 16 | 16 |
| Inventories | 273 | 257 | 195 | 116 | 184 | 251 | 387 | 525 | 638 | 512 |
| Trade Receivables | 115 | 198 | 133 | 111 | 59 | 91 | 105 | 184 | 158 | 291 |
| Cash Equivalents | 56 | 83 | 70 | 83 | 59 | 22 | 8 | 9 | 59 | 19 |
| Others Assetsⓘ | 424 | 353 | 352 | 355 | 387 | 404 | 334 | 381 | 503 | 572 |
| Total Assets ⓘ | 1,854 | 1,904 | 1,660 | 1,508 | 1,451 | 1,480 | 1,534 | 1,835 | 2,266 | 2,356 |
| 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 ⓘ | 182 | 127 | 39 | 28 | -211 | -118 | 181 | 198 | -66 | -165 |
| PBT ⓘ | -34 | -96 | -138 | -125 | -422 | -180 | 3 | 218 | -19 | -142 |
| Adjustment ⓘ | 129 | 94 | 110 | 155 | 414 | 155 | 92 | 94 | 69 | 140 |
| Changes in Working Capital ⓘ | 87 | 130 | 67 | -2 | -204 | -94 | 71 | -117 | -112 | -163 |
| Tax Paid ⓘ | -1 | -1 | 0 | 0 | 1 | 1 | 15 | 3 | -3 | -1 |
| Cash Flow From Investing Activity ⓘ | 16 | -32 | 53 | -6 | 17 | 39 | -17 | -49 | -188 | -110 |
| Capex | 8 | -43 | -77 | -13 | -5 | -11 | -23 | -50 | -180 | -100 |
| Net Investments | -4 | -45 | 12 | -4 | 15 | 43 | 5 | 0 | 0 | 0 |
| Others ⓘ | 13 | 55 | 118 | 11 | 7 | 6 | 2 | 2 | -8 | -10 |
| Cash Flow From Financing Activityⓘ | -187 | -112 | -93 | -15 | 185 | 87 | -174 | -149 | 305 | 236 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 92 | 299 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -98 | -30 | -2 | -32 | 170 | 96 | -72 | -62 | 175 | -93 |
| Interest Paid ⓘ | -31 | -36 | -63 | -68 | -115 | -102 | -74 | -59 | -57 | -100 |
| Dividend Paid ⓘ | -15 | -15 | -15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -43 | -30 | -13 | 86 | 39 | -206 | -28 | -28 | 188 | 429 |
| Net Cash Flow ⓘ | 11 | -17 | -1 | 8 | -9 | 8 | -10 | 0 | 51 | -39 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -3.89 | 6.24 | -15.2 | -17.95 | -82.03 | -136.35 | 40.6 | 57.53 | -3.28 | -28.02 |
| ROCE (%) | 0.94 | -4.61 | -5.41 | -3.82 | -36.26 | -11.62 | 9.78 | 34.91 | 3.7 | -2.57 |
| Asset Turnover Ratio | 1.55 | 1.48 | 1.52 | 1.48 | 1.21 | 1.49 | 1.4 | 2.42 | 2.1 | 1.75 |
| PAT to CFO Conversion(x) | N/A | 3.53 | N/A | N/A | N/A | N/A | 1.6 | 0.74 | N/A | N/A | Working Capital Days |
| Receivable Days | 14 | 21 | 22 | 19 | 17 | 13 | 17 | 13 | 15 | 20 |
| Inventory Days | 34 | 35 | 30 | 24 | 31 | 36 | 55 | 41 | 49 | 52 |
| Payable Days | 65 | 103 | 135 | 144 | 165 | 129 | 181 | 119 | 125 | 123 |
The history of Indo Rama Synthetics (India) Ltd. dates back to 1989, when it first forayed into the business of polyesters. Believing that polyester was going to be the fibre of the future, the commitment and perseverance over the years by the company has today resulted in an undisputed leadership position for it in the Indian polyester arena. A leading manufacturer and supplier in the country's fast growing polyester sector since the last two decades, Indo Rama has emerged as India's second largest dedicated polyester manufacturer having carved a niche in the market place for its unmatched quality offerings.
Equipped with a state-of-art integrated manufacturing complex at Butibori near Nagpur in Maharashtra, Indo Rama also has several technical collaborations with various technology leaders in Japan, Germany and USA. A customer focused organization, Indo Rama stands for high quality standards and innovative business practices.
Driven by the passion to seek new challenges, Indo Rama has recently forayed into the power sector. Indo Rama's 82.5 MW installed capacity comprises 52.5 MW (3x13.5 MW + 3x4 MW) of diesel generating (DG) sets and 40 MW of co-gen captive facility based on coal, giving 30 MW electricity. The company's combined power generation capabilities are integrated into a common power supply pool, from which required amount of power is fed for internal use and the surplus is sold to external agencies.
The Indo Rama Group has a strong presence in Indonesia, Thailand, USA, Nepal and Sri Lanka, besides India. It has focussed business activities in the field of Textiles, Polyesters and Industrial Chemicals. Forbes magazine has recognized the Group - Indo Rama Synthetics (India) and associate companies based in South-East Asia - as one of the '100 Best Small Companies in the Emerging Markets'.
Product range of the company includes:
Awards and achievement:
Certifications:
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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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