Past 10 year’s financial track record analysis by Moneyworks4me indicates that AB Cotspin India Ltd is a below average quality company.
The key valuation ratios of AB Cotspin 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 Semi Strong which suggest that the price of AB Cotspin India Ltd is likely to Rise-somewhat 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'18 | Mar'19 | Mar'20 | Dec'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 7.7% | 8.4% | 6.2% | 0% | 14.5% | 17.7% | 5.8% | - |
| Value Creation Index ⓘ | -0.5 | -0.4 | -0.6 | NA | 0.0 | 0.3 | -0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||||
| Sales ⓘ | 121 | 121 | 94.1 | 109 | 115 | 141 | 169 | 256 |
| Sales YoY Gr. | - | -0.3% | -22.2% | 15.4% | 6.2% | 22% | 20.2% | - |
| Adj EPS ⓘ | 1.5 | 1.5 | 1.1 | 18.5 | 5.2 | 6.6 | 1.7 | 6.5 |
| YoY Gr. | - | -1.3% | -30% | 1664.8% | -72.2% | 27.6% | -74.3% | - |
| BVPS (₹) ⓘ | 0 | 0 | 24 | 109.1 | 29.2 | 37.5 | 41.2 | 41.2 |
| Adj Net Profit ⓘ | 1.1 | 1.1 | 0.8 | 4.6 | 3.8 | 6.8 | 1.7 | 7 |
| Cash Flow from Ops. ⓘ | -8.3 | 10.1 | 6.9 | -0.4 | 0 | 13.6 | -23.7 | - |
| Debt/CF from Ops. ⓘ | -5.1 | 3.4 | 4.2 | -117.8 | -3084.2 | 2.3 | -4.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 6.9% | 15.9% | 20.2% | ||||
| Adj EPS ⓘ | NA | 2.4% | -55% | -74.3% | ||||
| BVPSⓘ | NA | NA | -27.7% | 9.7% | ||||
| Share Price | - | - | - | 187.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'18 | Mar'19 | Mar'20 | Dec'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 7 | 6.7 | 4.4 | 17.9 | 19.2 | 22.3 | 4.3 | 15.8 |
| Op. Profit Mgn % ⓘ | 6.6 | 6.3 | 6.1 | 8.2 | 8.8 | 10.2 | 6.2 | NAN |
| Net Profit Mgn % ⓘ | 0.9 | 0.9 | 0.8 | 4.2 | 3.3 | 4.8 | 1 | 2.6 |
| Debt to Equity ⓘ | 2.6 | 2 | 1.6 | 1.6 | 1.7 | 0.8 | 2.3 | - |
| Working Cap Days ⓘ | 0 | 102 | 118 | 156 | 109 | 93 | 108 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 88 | 102 | 131 | 94 | 76 | 86 | 0 |
Return on Equity has increased versus last 3 years average to 15.80%
Sales growth is growing at healthy rate in last 3 years 15.89%
Net Profit has been subdued in last 3 years -54.99%
Debt to equity has increased versus last 3 years average to 2.30
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 6.5 | - |
| TTM Sales (₹ Cr.) | 256 | - |
| BVPS (₹.) ⓘ | 41.2 | - |
| Reserves (₹ Cr.) ⓘ | 32 | - |
| P/BV ⓘ | 8.60 | - |
| PE ⓘ | 54.40 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 364 |
| Equity (₹ Cr.) | 10.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 26.8 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|
| Sales | 121 | 121 | 94 | 115 | 141 | 169 |
| Operating Expenses ⓘ | 113 | 113 | 88 | 105 | 126 | 159 |
| Manufacturing Costs | 11 | 10 | 10 | 11 | 12 | 12 |
| Material Costs | 97 | 95 | 71 | 87 | 105 | 137 |
| Employee Cost | 4 | 5 | 5 | 6 | 7 | 7 |
| Other Costs ⓘ | 2 | 3 | 2 | 2 | 3 | 2 |
| Operating Profit ⓘ | 8 | 8 | 6 | 10 | 14 | 10 |
| Operating Profit Margin (%) | 6.6% | 6.3% | 6.0% | 8.8% | 10.2% | 6.2% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 0 | 1 |
| Interest ⓘ | 3 | 3 | 2 | 2 | 2 | 3 |
| Depreciation ⓘ | 4 | 3 | 3 | 3 | 3 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 2 | 1 | 5 | 9 | 3 |
| Tax ⓘ | 0 | 1 | 0 | 2 | 2 | 1 |
| Profit After Tax | 1 | 1 | 1 | 4 | 7 | 2 |
| PAT Margin (%) | 0.9% | 1.0% | 0.9% | 3.4% | 4.9% | 1.1% |
| Adjusted EPS (₹) | 1.5 | 1.6 | 1.2 | 5.2 | 6.6 | 1.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 16 | 17 | 18 | 22 | 39 | 43 | ||||
| Share Capital ⓘ | 3 | 3 | 3 | 3 | 10 | 10 | ||||
| Reserves ⓘ | 13 | 15 | 15 | 19 | 28 | 32 | ||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Debt | 38 | 30 | 27 | 32 | 28 | 91 | ||||
| Long Term Debt | 14 | 11 | 7 | 13 | 23 | 53 | ||||
| Short Term Debt | 24 | 19 | 20 | 19 | 5 | 38 | ||||
| Trade Payables | 4 | 1 | 3 | 1 | 2 | 1 | ||||
| Others Liabilities ⓘ | 7 | 7 | 5 | 9 | 14 | 14 | ||||
| Total Liabilities ⓘ | 66 | 55 | 53 | 64 | 83 | 149 | ||||
Fixed Assets | ||||||||||
| Gross Block | 57 | 57 | 25 | 30 | 31 | 91 | ||||
| Accumulated Depreciation | 30 | 33 | 3 | 6 | 9 | 14 | ||||
| Net Fixed Assetsⓘ | 27 | 24 | 22 | 25 | 23 | 77 | ||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | 19 | 0 | ||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 4 | ||||
| Inventories | 28 | 19 | 19 | 28 | 18 | 44 | ||||
| Trade Receivables | 7 | 9 | 9 | 7 | 8 | 13 | ||||
| Cash Equivalents | 2 | 1 | 0 | 0 | 8 | 1 | ||||
| Others Assetsⓘ | 2 | 2 | 3 | 3 | 6 | 10 | ||||
| Total Assets ⓘ | 66 | 55 | 53 | 64 | 83 | 149 | ||||
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -8 | 10 | 7 | 0 | 14 | -24 |
| PBT ⓘ | 1 | 2 | 1 | 5 | 9 | 3 |
| Adjustment ⓘ | 7 | 6 | 5 | 5 | 6 | 9 |
| Changes in Working Capital ⓘ | -16 | 3 | 1 | -10 | 2 | -34 |
| Tax Paid ⓘ | 0 | 0 | 0 | -1 | -3 | -1 |
| Cash Flow From Investing Activity ⓘ | 0 | 0 | -1 | -5 | -15 | -41 |
| Capex | 0 | 0 | -1 | -5 | -1 | -41 |
| Net Investments | 0 | 0 | 0 | 0 | -2 | -1 |
| Others ⓘ | 0 | 0 | 0 | 0 | -12 | 0 |
| Cash Flow From Financing Activityⓘ | 10 | -11 | -7 | 5 | 2 | 64 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 10 | 0 |
| Net Proceeds from Borrowing ⓘ | -4 | -3 | -6 | 8 | 9 | 30 |
| Interest Paid ⓘ | -3 | -3 | -2 | -2 | -2 | -3 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 18 | -5 | 1 | -1 | -15 | 37 |
| Net Cash Flow ⓘ | 2 | -1 | -1 | 0 | 1 | -1 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 7.18 | 7.15 | 4.9 | 19.68 | 22.67 | 4.77 | ||||
| ROCE (%) | 7.73 | 8.4 | 6.15 | 14.48 | 17.67 | 5.78 | ||||
| Asset Turnover Ratio | 1.84 | 2 | 1.75 | 1.98 | 1.92 | 1.46 | ||||
| PAT to CFO Conversion(x) | -8 | 10 | 7 | 0 | 2 | -12 | Working Capital Days | |||
| Receivable Days | 22 | 25 | 36 | 26 | 20 | 23 | ||||
| Inventory Days | 84 | 71 | 74 | 75 | 61 | 67 | ||||
| Payable Days | 17 | 10 | 10 | 8 | 5 | 5 | ||||
AB Cotspin India was originally incorporated as “Ganga Cottex Private Limited” at Jalandhar, as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated June 23, 1997 issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh. Subsequently, the company was converted from Private Limited Company to a Public Limited Company pursuant to a special resolution passed by the members of the company in the Extra-ordinary General meeting held on March 20, 2010 and the name of the company was changed to “Ganga Cottex Limited”. Further, the name of the company was changed to “AB Cotspin India Limited” and a fresh Certificate of Incorporation dated December 24, 2010
The company commenced its business in 1997 with a cotton ginning plant with cotton bales and cotton seeds being its initial products. Thereafter in the year 2000, the company installed a crushing unit to extract oil from cotton and mustard seeds and expanded its product basket with the addition of cotton seed oil, mustard oil and oil cake. In the year 2011, it ventured in manufacturing cotton yarn by setting up a spinning plant. In the year 2014, the company installed a knitting machine and thus forayed into manufacturing of knitted fabric.
The company has one manufacturing facility which is located at, Jaitu (Dist Faridkot), Punjab. Over the years, it has made investments in its manufacturing infrastructure to support its product portfolio requirements and reach. The company is supplying its products domestically.
Business area of the company
The company is primarily engaged in manufacturing of cotton yarn, knitted fabric, cottonseed oil and oilcakes.
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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