Past 10 year's financial track record analysis by Moneyworks4me indicates that Shanti Spintex Ltd is a average quality company.
The key valuation ratios of Shanti Spintex 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 Shanti Spintex 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'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 8.8% | 9.1% | 18.2% | 20.5% | - |
| Value Creation Index ⓘ | -0.4 | -0.4 | 0.3 | 0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 113 | 255 | 370 | 506 | 506 |
| Sales YoY Gr. | - | 126% | 45.3% | 36.6% | - |
| Adj EPS ⓘ | 2.5 | 4.5 | 7.4 | 7.8 | 7.7 |
| YoY Gr. | - | 81.6% | 65.6% | 5.4% | - |
| BVPS (₹) ⓘ | 29.1 | 32.6 | 39.5 | 51.3 | 51.3 |
| Adj Net Profit ⓘ | 3.5 | 6.3 | 10.5 | 13.1 | 13 |
| Cash Flow from Ops. ⓘ | 3.5 | 5.3 | 16.9 | 7 | - |
| Debt/CF from Ops. ⓘ | 12.4 | 9.3 | 2.5 | 3.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 64.9% | 36.6% | ||||
| Adj EPS ⓘ | NA | NA | 46.9% | 5.4% | ||||
| BVPSⓘ | NA | NA | 20.7% | 29.7% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 8.4 | 14.4 | 20.5 | 18.4 | 15 |
| Op. Profit Mgn % ⓘ | 10.2 | 5.5 | 6 | 4.9 | NAN |
| Net Profit Mgn % ⓘ | 3.1 | 2.5 | 2.8 | 2.6 | 2.6 |
| Debt to Equity ⓘ | 1 | 1.1 | 0.7 | 0.3 | - |
| Working Cap Days ⓘ | 0 | 95 | 90 | 82 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 25 | 20 | 18 | 0 |
Sales growth is growing at healthy rate in last 3 years 64.90%
Net Profit is growing at healthy rate in last 3 years 46.92%
Debt to equity has declined versus last 3 years average to 0.26
Return on Equity has declined versus last 3 years average to 15.00%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 7.7 | - |
| TTM Sales (₹ Cr.) | 506 | - |
| BVPS (₹.) ⓘ | 51.3 | - |
| Reserves (₹ Cr.) ⓘ | 70 | - |
| P/BV ⓘ | 1.28 | - |
| PE ⓘ | 8.50 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 46.25 / 96.92 |
| All Time Low / High (₹) | 46.25 / 96.92 |
| Market Cap (₹ Cr.) | 111 |
| Equity (₹ Cr.) | 16.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 26.9 |
| Pledged * | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 113 | 255 | 370 | 506 |
| Operating Expenses ⓘ | 101 | 243 | 349 | 481 |
| Manufacturing Costs | 14 | 15 | 22 | 20 |
| Material Costs | 84 | 222 | 322 | 457 |
| Employee Cost | 2 | 2 | 2 | 2 |
| Other Costs ⓘ | 2 | 4 | 3 | 2 |
| Operating Profit ⓘ | 11 | 12 | 22 | 25 |
| Operating Profit Margin (%) | 10.0% | 4.7% | 5.8% | 4.9% |
| Other Income ⓘ | 0 | 0 | 0 | 1 |
| Interest ⓘ | 3 | 2 | 3 | 3 |
| Depreciation ⓘ | 4 | 4 | 5 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 5 | 6 | 14 | 18 |
| Tax ⓘ | 1 | 1 | 4 | 5 |
| Profit After Tax | 3 | 5 | 10 | 13 |
| PAT Margin (%) | 3.0% | 1.9% | 2.7% | 2.6% |
| Adjusted EPS (₹) | 2.4 | 3.4 | 7.1 | 7.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 41 | 46 | 56 | 87 | ||||||
| Share Capital ⓘ | 7 | 7 | 7 | 17 | ||||||
| Reserves ⓘ | 34 | 39 | 49 | 70 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 34 | 39 | 31 | 14 | ||||||
| Long Term Debt | 34 | 39 | 31 | 14 | ||||||
| Short Term Debt | 0 | 0 | 0 | 0 | ||||||
| Trade Payables | 29 | 34 | 67 | 71 | ||||||
| Others Liabilities ⓘ | 15 | 16 | 22 | 22 | ||||||
| Total Liabilities ⓘ | 119 | 136 | 176 | 194 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 73 | 73 | 89 | 97 | ||||||
| Accumulated Depreciation | 16 | 20 | 24 | 29 | ||||||
| Net Fixed Assetsⓘ | 57 | 53 | 64 | 67 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | ||||||
| Investmentsⓘ | 2 | 2 | 2 | 0 | ||||||
| Inventories | 3 | 7 | 19 | 18 | ||||||
| Trade Receivables | 38 | 52 | 68 | 90 | ||||||
| Cash Equivalents | 6 | 3 | 5 | 5 | ||||||
| Others Assetsⓘ | 13 | 19 | 18 | 13 | ||||||
| Total Assets ⓘ | 119 | 136 | 176 | 194 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 3 | 5 | 17 | 7 |
| PBT ⓘ | 5 | 6 | 14 | 18 |
| Adjustment ⓘ | 7 | 6 | 8 | 7 |
| Changes in Working Capital ⓘ | -8 | -7 | -2 | -14 |
| Tax Paid ⓘ | 0 | 0 | -3 | -4 |
| Cash Flow From Investing Activity ⓘ | 0 | 0 | -15 | -5 |
| Capex | 0 | 0 | -15 | -8 |
| Net Investments | 0 | 0 | 0 | 3 |
| Others ⓘ | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 1 | -8 | -1 | -2 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 19 |
| Net Proceeds from Borrowing ⓘ | 3 | 5 | 3 | -16 |
| Interest Paid ⓘ | -3 | -2 | -3 | -3 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | -11 | 0 | -1 |
| Net Cash Flow ⓘ | 4 | -3 | 2 | 0 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 8.16 | 11.11 | 19.8 | 18.25 | ||||||
| ROCE (%) | 8.76 | 9.14 | 18.18 | 20.45 | ||||||
| Asset Turnover Ratio | 0.95 | 1.99 | 2.37 | 2.74 | ||||||
| PAT to CFO Conversion(x) | 1 | 1 | 1.7 | 0.54 | Working Capital Days | |||||
| Receivable Days | 123 | 64 | 59 | 57 | ||||||
| Inventory Days | 10 | 7 | 13 | 13 | ||||||
| Payable Days | 125 | 52 | 57 | 55 | ||||||
The company was originally incorporated as a private limited Company under the name of “Shanti Spintex Private Limited” on August 23, 2010 under the provisions of the Companies Act, 1956 with the Registrar of Companies, Ahmedabad. Thereafter, the company was converted from private limited to public limited and the name of the company was changed from “Shanti Spintex Private Limited” to “Shanti Spintex Limited” vide fresh certificate of incorporation dated August 18, 2023, issued by the Registrar of Companies, Ahmedabad, Gujarat.
Incorporated in 2010, the company is primarily engaged in manufacturing and selling of denim fabrics. It began its business as a fabrics trading concern in the FY 2014-15. In 2016, the company established its fabric weaving unit at Dholi – Integrated Spinning Park, Dholka, Ahmedabad. The company has various airjet looms installed at Dholi unit. Weaving is the process of converting yarn into fabrics wherein two distinct sets of yarns or threads are interlaced at right angles to form a fabric. The airjet looms installed by it utilize a technique where a jet of compressed air is used to insert the weft (crosswise) yarn into the warp (lengthwise) yarn to create the raw fabrics also known grey fabrics.
Business area of the company
The company manufactures various type of denim fabrics such as power stretch spandex denim, knit denim, light weight denim, rigid denim, over dyed denim and flat finish 3/1 denim. Its production facility has capability to produce grey fabrics in various designs such as twill weave, knit dobby weave, structure dobby weave, broken twill weave and satin weave. It offers denim fabrics in diverse spectrum of shades such as indigo blue, IBST, sulphur black, sulphur grey, halogen blue and ecru colour which has weights ranging from 4.50 Oz/sq. yd to 14.50 Oz./sq. yd. and widths spanning from 62 inch (157cm) to 78 inch (198 cm). Its operations encompass utilization of diverse type of yarns such as cotton yarn, ring yarn, viscose yarn, slub yarn, cotton spandex, polyester spandex, tencel, lyocell etc. which are procured by it from domestic market. In addition to yarn, it also directly procures grey fabrics from the market, which are subsequently sent for finishing, and is then sold to customers. It outsources the yarn dyeing and grey fabrics finishing process to third parties.
Major events 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.
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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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