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Last Updated on: 22 May, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 524091 | NSE: CARYSIL

Fundamental Analysis of Carysil Ltd

Basic Stock Data

Last Updated: May 22, 2024, 6:54 pm

Market Cap 2,297 Cr.
Current Price 857
High / Low1,151/542
Stock P/E39.7
Book Value 132
Dividend Yield0.23 %
ROCE16.9 %
ROE17.6 %
Face Value 2.00
PEG Ratio2.00

Data Source: screener.in

Competitors of Carysil Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Nitco Ltd 571 Cr. 79.482.2/16.8 57.60.00 %11.2 %% 10.0
Kajaria Ceramics Ltd 20,800 Cr. 1,3051,524/1,11049.3 1640.69 %21.4 %17.1 % 1.00
Lexus Granito (India) Ltd 85.6 Cr. 42.471.7/31.6 7.870.00 %8.02 %45.1 % 10.0
Somany Ceramics Ltd 2,988 Cr. 729819/56130.4 1760.41 %14.5 %13.0 % 2.00
Orient Bell Ltd 545 Cr. 374589/301593 2150.27 %0.91 %0.30 % 10.0
Industry Average4,997.92 Cr505.96134.54124.090.27%11.21%15.10%6.60

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales8710198119128139171139138146142164188
Expenses67807693100111138117113119116131153
Operating Profit20202126282834222526263335
OPM %23%20%22%22%22%20%20%16%18%18%18%20%19%
Other Income0533220001111
Interest2222233444556
Depreciation3444556677788
Profit before tax16191822232225131416162222
Tax %23%32%27%21%25%25%25%26%15%23%25%28%31%
Net Profit1213141817171991212121615
EPS in Rs4.534.885.046.636.476.136.983.464.504.644.325.765.72

Last Updated: May 10, 2024, 2:36 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 27, 2024, 1:31 am

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales6380106127174181196252276310484594639
Expenses556687103143154169209229243379484518
Operating Profit8141924312727424867105110120
OPM %13%17%18%19%18%15%14%17%17%22%22%18%19%
Other Income11112352581024
Interest3458911812108111719
Depreciation445456791213182630
Profit before tax261013181317243054866876
Tax %13%22%25%32%32%37%28%28%25%27%24%22%
Net Profit158912812172339655355
EPS in Rs0.732.173.433.754.212.804.616.658.2714.6524.2619.5820.44
Dividend Payout %73%30%23%21%24%36%22%18%15%14%10%10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)400.00%60.00%12.50%33.33%-33.33%50.00%41.67%35.29%69.57%66.67%-18.46%
Change in YoY Net Profit Growth (%)0.00%-340.00%-47.50%20.83%-66.67%83.33%-8.33%-6.37%34.27%-2.90%-85.13%

Growth

Compounded Sales Growth
10 Years:22%
5 Years:25%
3 Years:29%
TTM:9%
Compounded Profit Growth
10 Years:27%
5 Years:34%
3 Years:33%
TTM:-3%
Stock Price CAGR
10 Years:35%
5 Years:55%
3 Years:41%
1 Year:58%
Return on Equity
10 Years:19%
5 Years:21%
3 Years:23%
Last Year:19%

Last Updated: April 16, 2024, 4:02 am

Balance Sheet

Last Updated: May 17, 2024, 6:38 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital3455555555555
Reserves2223293774107113128152186248298321
Borrowings2331397367809297102107150235213
Other Liabilities13202432524150616593150174207
Total Liabilities617997147199233260291325391553712746
Fixed Assets283235586798111119125152206328352
CWIP00242224910211412
Investments0000000000000
Other Assets33466085131132146168191229326371382
Total Assets617997147199233260291325391553712746

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 26711616243045527158
Cash from Investing Activity -7-9-27-13-14-20-17-19-35-73-136-102
Cash from Financing Activity 6425192-0-4-10-9186448
Net Cash Flow10517-6-5212-2-15

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-15.00-17.00-20.00-49.00-36.00-53.00-65.00-55.00-54.00-40.00-45.00-125.00

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

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days899786938977897982987663
Inventory Days163199206239184216213170180161212167
Days Payable981461311201741381679987124162100
Cash Conversion Cycle15415016021299155135150175136126130
Working Capital Days81979411698123127121125136117115
ROCE %10%19%23%22%20%14%12%16%16%22%27%18%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters44.04%44.04%44.04%44.04%43.91%43.91%43.91%43.91%43.84%43.84%43.84%43.84%
FIIs0.07%0.38%0.38%0.36%0.26%0.26%0.27%0.28%0.34%0.56%0.64%0.87%
DIIs6.46%6.16%6.21%6.24%6.22%6.37%6.45%6.41%6.71%7.08%7.31%7.32%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%1.76%0.00%
Public49.43%49.42%49.37%49.36%49.60%49.45%49.37%49.40%49.11%48.52%46.46%47.96%
No. of Shareholders21,13034,56346,01049,11553,74761,97865,68865,31161,77059,96458,18957,986

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
LIC MF Multi Cap Fund100,0011.069.82
LIC MF Small Cap Fund29,7461.42.92
Motilal Oswal Nifty Microcap 250 Index Fund20,5220.231.96
Quantum Small Cap Fund9,1362.250.87

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)19.5924.2614.668.386.64
Diluted EPS (Rs.)19.5224.1314.668.386.64
Cash EPS (Rs.)29.5831.0819.4713.0310.07
Book Value[Excl.RevalReserv]/Share (Rs.)114.6996.2572.6660.0052.60
Book Value[Incl.RevalReserv]/Share (Rs.)114.6996.2572.6660.0052.60
Revenue From Operations / Share (Rs.)221.83181.27116.02103.4896.97
PBDIT / Share (Rs.)40.7142.4827.6519.1516.41
PBIT / Share (Rs.)30.8635.8422.9014.6913.08
PBT / Share (Rs.)25.4432.2520.1711.429.33
Net Profit / Share (Rs.)19.7324.4514.738.566.74
NP After MI And SOA / Share (Rs.)19.5824.2614.668.276.65
PBDIT Margin (%)18.3423.4323.8218.5016.92
PBIT Margin (%)13.9119.7619.7314.1913.48
PBT Margin (%)11.4617.7817.3811.039.62
Net Profit Margin (%)8.8913.4812.698.276.94
NP After MI And SOA Margin (%)8.8213.3812.637.996.85
Return on Networth / Equity (%)17.2725.5220.4313.9812.78
Return on Capital Employeed (%)20.5530.7827.1721.2521.76
Return On Assets (%)7.3511.7010.006.806.26
Long Term Debt / Equity (X)0.250.150.110.130.12
Total Debt / Equity (X)0.720.540.490.560.62
Asset Turnover Ratio (%)0.930.910.760.790.81
Current Ratio (X)1.161.271.331.331.24
Quick Ratio (X)0.740.831.000.890.79
Inventory Turnover Ratio (X)1.982.471.801.761.59
Dividend Payout Ratio (NP) (%)6.129.8913.6414.1015.04
Dividend Payout Ratio (CP) (%)4.077.7610.309.1510.02
Earning Retention Ratio (%)93.8890.1186.3685.9084.96
Cash Earning Retention Ratio (%)95.9392.2489.7090.8589.98
Interest Coverage Ratio (X)7.5011.8310.115.864.38
Interest Coverage Ratio (Post Tax) (X)4.647.816.383.622.80
Enterprise Value (Cr.)1669.062347.37903.84221.77360.08
EV / Net Operating Revenue (X)2.814.852.920.801.43
EV / EBITDA (X)15.3220.7012.254.348.46
MarketCap / Net Operating Revenue (X)2.454.582.670.541.14
Retention Ratios (%)93.8790.1086.3585.8984.95
Price / BV (X)4.808.744.320.942.13
Price / Net Operating Revenue (X)2.454.582.670.541.14
EarningsYield0.030.020.040.140.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: ₹924.43

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.

Undervalued: 7.87% compared to the current price ₹857

Intrinsic Value: ₹1,107.82

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 29.27% compared to the current price ₹857

Last 5 Year EPS CAGR: 19.84%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 18.25%, which is a positive sign.
  2. The company has higher reserves (133.69 cr) compared to borrowings (100.69 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (267.85 cr) and profit (32.08 cr) over the years.
  1. The stock has a high average Working Capital Days of 112.50, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 148.50, 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: 8.89%
      • 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: 20.55% (Industry Average ROCE: 9.9%)
      • 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%: 17.27% (Industry Average ROE: 15.48%)
      • 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): 4.64
      • 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: 0.74
      • 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: 39.7 (Industry average Stock P/E: 143.32)
      • 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: 0.72
      • 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.
INDUSTRYADDRESSCONTACT
Ceramics/Tiles/SanitarywareA-702 7th Floor, Kanakia Wall Street, Mumbai Maharashtra 400093cs.al@acrysil.com
https://carysil.com
Management
NamePosition Held
Mr. Chirag A ParekhChairman & Managing Director
Mr. Pradeep H GohilIndependent Director
Dr. Sonal V AmbaniIndependent Director
Mr. Rustam N MullaIndependent Director
Mr. Ajit R SanghviIndependent Director
Mr. Jagdish R NaikIndependent Director
Mr. Pradyumna VyasIndependent Director

FAQ

What is the latest fair value of Carysil Ltd?

The latest fair value of Carysil Ltd is ₹924.43.

What is the Market Cap of Carysil Ltd?

The Market Cap of Carysil Ltd is 2,297 Cr..

What is the current Stock Price of Carysil Ltd as on 22 May 2024?

The current stock price of Carysil Ltd as on 22 May 2024 is ₹857.

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

In FY 2024, the High / Low of Carysil Ltd stocks is ₹1,151/542.

What is the Stock P/E of Carysil Ltd?

The Stock P/E of Carysil Ltd is 39.7.

What is the Book Value of Carysil Ltd?

The Book Value of Carysil Ltd is 132.

What is the Dividend Yield of Carysil Ltd?

The Dividend Yield of Carysil Ltd is 0.23 %.

What is the ROCE of Carysil Ltd?

The ROCE of Carysil Ltd is 16.9 %.

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.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Carysil Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE