Carysil Ltd: Share Price Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: December 17, 2024, 8:40 pm

Market Cap	2,324 Cr.
Current Price	818
High / Low	1,151/721
Stock P/E	36.6
Book Value	174
Dividend Yield	0.24 %
ROCE	17.1 %
ROE	17.6 %
Face Value	2.00
PEG Ratio	3.81

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Carysil Ltd

Competitors of Carysil Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Exxaro Tiles Ltd	427 Cr.	9.62	12.6/7.60		6.09	0.00 %	4.54 %	0.72 %	1.00
Carysil Ltd	2,324 Cr.	818	1,151/721	36.6	174	0.24 %	17.1 %	17.6 %	2.00
Somany Ceramics Ltd	2,740 Cr.	668	873/561	34.4	180	0.45 %	14.4 %	12.9 %	2.00
Orient Bell Ltd	487 Cr.	333	447/300	727	214	0.15 %	0.97 %	0.34 %	10.0
Nitco Ltd	1,057 Cr.	147	148/28.2		82.2	0.00 %	14.0 %	%	10.0
Industry Average	4,045.11 Cr	1,087.62		155.07	192.66	0.36%	11.54%	19.41%	6.10

All Competitor Stocks of Carysil Ltd

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	98	119	128	139	171	139	138	146	142	164	188	191	201
Expenses	76	93	100	111	138	117	113	119	116	131	153	156	165
Operating Profit	21	26	28	28	34	22	25	26	26	33	35	35	36
OPM %	22%	22%	22%	20%	20%	16%	18%	18%	18%	20%	19%	18%	18%
Other Income	3	3	2	2	0	0	0	1	1	1	1	2	1
Interest	2	2	2	3	3	4	4	4	5	5	6	6	6
Depreciation	4	4	5	5	6	6	7	7	7	8	8	9	9
Profit before tax	18	22	23	22	25	13	14	16	16	22	22	21	23
Tax %	27%	21%	25%	25%	25%	26%	15%	23%	25%	28%	31%	26%	30%
Net Profit	14	18	17	17	19	9	12	12	12	16	15	16	16
EPS in Rs	5.04	6.63	6.47	6.13	6.98	3.46	4.50	4.64	4.32	5.76	5.72	5.79	5.91

Last Updated: October 7, 2024, 8:24 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 2:48 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	80	106	127	174	181	196	252	276	310	484	594	684	743
Expenses	66	87	103	143	154	169	209	229	243	379	484	553	605
Operating Profit	14	19	24	31	27	27	42	48	67	105	110	131	139
OPM %	17%	18%	19%	18%	15%	14%	17%	17%	22%	22%	18%	19%	19%
Other Income	1	1	1	2	3	5	2	5	8	10	2	5	6
Interest	4	5	8	9	11	8	12	10	8	11	17	23	22
Depreciation	4	5	4	5	6	7	9	12	13	18	26	32	34
Profit before tax	6	10	13	18	13	17	24	30	54	86	68	81	88
Tax %	22%	25%	32%	32%	37%	28%	28%	25%	27%	24%	22%	28%
Net Profit	5	8	9	12	8	12	17	23	39	65	53	58	63
EPS in Rs	2.17	3.43	3.75	4.21	2.80	4.61	6.65	8.27	14.65	24.26	19.58	21.59	23.18
Dividend Payout %	30%	23%	21%	24%	36%	22%	18%	15%	14%	10%	10%	9%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	60.00%	12.50%	33.33%	-33.33%	50.00%	41.67%	35.29%	69.57%	66.67%	-18.46%	9.43%
Change in YoY Net Profit Growth (%)	0.00%	-47.50%	20.83%	-66.67%	83.33%	-8.33%	-6.37%	34.27%	-2.90%	-85.13%	27.90%

Carysil Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	20%
5 Years:	22%
3 Years:	30%
TTM:	34%

Compounded Profit Growth
10 Years:	22%
5 Years:	27%
3 Years:	14%
TTM:	23%

Stock Price CAGR
10 Years:	21%
5 Years:	54%
3 Years:	-2%
1 Year:	-9%

Return on Equity
10 Years:	18%
5 Years:	20%
3 Years:	21%
Last Year:	18%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 2:01 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	4	5	5	5	5	5	5	5	5	5	5	5	6
Reserves	23	29	37	74	107	113	130	152	186	248	298	349	489
Borrowings	31	39	73	67	80	92	97	102	107	150	235	312	260
Other Liabilities	20	23	32	52	41	50	59	65	93	150	174	178	218
Total Liabilities	79	97	147	199	233	260	291	325	391	553	712	845	973
Fixed Assets	32	35	58	67	98	111	119	125	152	206	328	404	402
CWIP	0	2	4	2	2	2	4	9	10	21	14	10	13
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	46	60	85	131	132	146	168	191	229	326	371	431	558
Total Assets	79	97	147	199	233	260	291	325	391	553	712	845	973

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	2	6	7	11	6	16	24	30	45	52	71	58
Cash from Investing Activity +	-7	-9	-27	-13	-14	-20	-17	-19	-35	-73	-136	-102
Cash from Financing Activity +	6	4	25	19	2	-0	-4	-10	-9	18	64	48
Net Cash Flow	1	0	5	17	-6	-5	2	1	2	-2	-1	5

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-17.00	-20.00	-49.00	-36.00	-53.00	-65.00	-55.00	-54.00	-40.00	-45.00	-125.00	-181.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	97	86	93	89	77	89	79	82	98	76	63	74
Inventory Days	199	206	239	184	216	213	170	180	161	212	184	248
Days Payable	146	131	120	174	138	167	99	87	124	162	111	124
Cash Conversion Cycle	150	160	212	99	155	135	150	175	136	126	137	197
Working Capital Days	97	94	116	98	123	127	121	125	136	117	109	125
ROCE %	19%	23%	22%	20%	14%	12%	16%	16%	22%	27%	18%	17%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Jul 2024
Promoters	44.04%	44.04%	43.91%	43.91%	43.91%	43.91%	43.84%	43.84%	43.84%	43.84%	43.80%	41.37%
FIIs	0.38%	0.36%	0.26%	0.26%	0.27%	0.28%	0.34%	0.56%	0.64%	0.87%	0.70%	2.21%
DIIs	6.21%	6.24%	6.22%	6.37%	6.45%	6.41%	6.71%	7.08%	7.31%	7.32%	7.20%	10.67%
Government	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.76%	0.00%	0.00%	0.00%
Public	49.37%	49.36%	49.60%	49.45%	49.37%	49.40%	49.11%	48.52%	46.46%	47.96%	48.31%	45.76%
No. of Shareholders	46,010	49,115	53,747	61,978	65,688	65,311	61,770	59,964	58,189	57,986	58,019	58,026

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
LIC MF Multi Cap Fund	100,001	1.06	9.82	20,522	2024-12-17	387.29%
LIC MF Small Cap Fund	29,746	1.4	2.92	20,522	2024-12-17	44.95%
Motilal Oswal Nifty Microcap 250 Index Fund	20,522	0.23	1.96	20,522	2024-12-17	0%
Quantum Small Cap Fund	9,136	2.25	0.87	20,522	2024-12-17	-55.48%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	21.59	19.59	24.26	14.66	8.38
Diluted EPS (Rs.)	21.55	19.52	24.13	14.66	8.38
Cash EPS (Rs.)	33.86	29.58	31.08	19.47	13.03
Book Value[Excl.RevalReserv]/Share (Rs.)	133.55	114.69	96.25	72.66	60.00
Book Value[Incl.RevalReserv]/Share (Rs.)	133.55	114.69	96.25	72.66	60.00
Revenue From Operations / Share (Rs.)	254.98	221.83	181.27	116.02	103.48
PBDIT / Share (Rs.)	50.00	40.71	42.48	27.65	19.15
PBIT / Share (Rs.)	37.90	30.86	35.84	22.90	14.69
PBT / Share (Rs.)	30.12	25.44	32.25	20.17	11.42
Net Profit / Share (Rs.)	21.76	19.73	24.45	14.73	8.56
NP After MI And SOA / Share (Rs.)	21.59	19.58	24.26	14.66	8.27
PBDIT Margin (%)	19.60	18.34	23.43	23.82	18.50
PBIT Margin (%)	14.86	13.91	19.76	19.73	14.19
PBT Margin (%)	11.81	11.46	17.78	17.38	11.03
Net Profit Margin (%)	8.53	8.89	13.48	12.69	8.27
NP After MI And SOA Margin (%)	8.46	8.82	13.38	12.63	7.99
Return on Networth / Equity (%)	16.35	17.27	25.52	20.43	13.98
Return on Capital Employeed (%)	20.74	20.55	30.78	27.17	21.25
Return On Assets (%)	6.85	7.35	11.70	10.00	6.80
Long Term Debt / Equity (X)	0.32	0.25	0.15	0.11	0.13
Total Debt / Equity (X)	0.84	0.72	0.54	0.49	0.56
Asset Turnover Ratio (%)	0.87	0.93	0.91	0.76	0.79
Current Ratio (X)	1.17	1.16	1.27	1.33	1.33
Quick Ratio (X)	0.67	0.74	0.83	1.00	0.89
Inventory Turnover Ratio (X)	1.80	1.98	2.47	1.80	1.76
Dividend Payout Ratio (NP) (%)	9.26	6.12	9.89	13.64	14.10
Dividend Payout Ratio (CP) (%)	5.93	4.07	7.76	10.30	9.15
Earning Retention Ratio (%)	90.74	93.88	90.11	86.36	85.90
Cash Earning Retention Ratio (%)	94.07	95.93	92.24	89.70	90.85
Interest Coverage Ratio (X)	6.43	7.50	11.83	10.11	5.86
Interest Coverage Ratio (Post Tax) (X)	3.80	4.64	7.81	6.38	3.62
Enterprise Value (Cr.)	2921.68	1669.06	2347.37	903.84	221.77
EV / Net Operating Revenue (X)	4.27	2.81	4.85	2.92	0.80
EV / EBITDA (X)	21.79	15.32	20.70	12.25	4.34
MarketCap / Net Operating Revenue (X)	3.85	2.45	4.58	2.67	0.54
Retention Ratios (%)	90.73	93.87	90.10	86.35	85.89
Price / BV (X)	7.43	4.80	8.74	4.32	0.94
Price / Net Operating Revenue (X)	3.85	2.45	4.58	2.67	0.54
EarningsYield	0.02	0.03	0.02	0.04	0.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Carysil Ltd as of December 18, 2024 is: 1,123.53

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 18, 2024, Carysil Ltd is Undervalued by 37.35% compared to the current share price 818.00

Intrinsic Value of Carysil Ltd as of December 18, 2024 is: 1,231.52

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 18, 2024, Carysil Ltd is Undervalued by 50.55% compared to the current share price 818.00

Last 5 Year EPS CAGR: 9.61%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 18.83%, which is a positive sign. The company has higher reserves (171.92 cr) compared to borrowings (126.54 cr), indicating strong financial stability. The company has shown consistent growth in sales (323.62 cr) and profit (39.08 cr) over the years.	The stock has a high average Working Capital Days of 115.67, which may not be favorable. The stock has a high average Cash Conversion Cycle of 152.67, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Carysil Ltd:
1. Net Profit Margin: 8.53%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 20.74% (Industry Average ROCE: 11.54%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 16.35% (Industry Average ROE: 17.47%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 3.8
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.67
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 36.6 (Industry average Stock P/E: 93.04)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.84
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Carysil Ltd. is a Public Limited Listed company incorporated on 19/01/1987 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L26914MH1987PLC042283 and registration number is 042283. Currently Company is involved in the business activities of Manufacture of other plastics products. Company’s Total Operating Revenue is Rs. 388.03 Cr. and Equity Capital is Rs. 5.34 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Ceramics/Tiles/Sanitaryware	A-702, 7th Floor, Kanakia Wall Street, Mumbai Maharashtra 400093	cs.al@acrysil.com https://www.carysil.com

Management
Name	Position Held
Mr. Chirag Parekh	Chairman & Managing Director
Mr. Anand Sharma	Executive Director & Group CFO
Dr. Sonal V Ambani	Independent Director
Mr. Rustam N Mulla	Independent Director
Mrs. Katja Larsen	Independent Director
Mr. Prabhakar R Dalal	Independent Director
Mr. Pradyumna R Vyas	Independent Director
Dr. Savan Godiawala	Independent Director

FAQ

What is the latest intrinsic value of Carysil Ltd?

The latest intrinsic value of Carysil Ltd as on 18 December 2024 is ₹1123.53, which is 37.35% higher than the current market price of ₹818.00. The stock has a market capitalization of 2,324 Cr. and recorded a high/low of ₹1,151/721 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹489 Cr and total liabilities of ₹973 Cr.

What is the Market Cap of Carysil Ltd?

The Market Cap of Carysil Ltd is 2,324 Cr..

What is the current Stock Price of Carysil Ltd as on 18 December 2024?

The current stock price of Carysil Ltd as on 18 December 2024 is 818.

What is the High / Low of Carysil Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Carysil Ltd stocks is 1,151/721.

What is the Stock P/E of Carysil Ltd?

The Stock P/E of Carysil Ltd is 36.6.

What is the Book Value of Carysil Ltd?

The Book Value of Carysil Ltd is 174.

What is the Dividend Yield of Carysil Ltd?

The Dividend Yield of Carysil Ltd is 0.24 %.

What is the ROCE of Carysil Ltd?

The ROCE of Carysil Ltd is 17.1 %.

What is the ROE of Carysil Ltd?

The ROE of Carysil Ltd is 17.6 %.

What is the Face Value of Carysil Ltd?

The Face Value of Carysil Ltd is 2.00.