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Last Updated on: 22 May, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 526817 | NSE: CHEVIOT

Fundamental Analysis of Cheviot Company Ltd

Basic Stock Data

Last Updated: May 22, 2024, 7:01 pm

Market Cap 903 Cr.
Current Price 1,501
High / Low1,627/1,101
Stock P/E13.2
Book Value 988
Dividend Yield1.80 %
ROCE12.7 %
ROE9.76 %
Face Value 10.0
PEG Ratio1.50

Data Source: screener.in

Competitors of Cheviot Company Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Bangalore Fort Farms Ltd 25.4 Cr. 52.863.1/13.3106 16.20.00 %0.55 %0.18 % 10.0
AI Champdany Industries Ltd 178 Cr. 58.069.8/26.78.00 23.40.00 %29.7 %52.3 % 5.00
Industry Average101.70 Cr55.4057.0019.800.00%15.13%26.24%7.50

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales12015712312915516414616511813511612698
Expenses10513210310513714613114610311710411089
Operating Profit1525212419181519151712159
OPM %12%16%17%18%12%11%10%11%12%13%10%12%9%
Other Income15981043-0632101114
Interest0000000000000
Depreciation1111111111222
Profit before tax29332832222013231618212421
Tax %19%22%21%21%23%24%26%23%22%25%18%19%16%
Net Profit23262225171510181314172018
EPS in Rs37.1840.9835.4140.5826.5825.0616.5430.0021.1922.7928.0432.7129.78

Last Updated: May 11, 2024, 11:58 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 26, 2024, 9:22 am

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales295290278267343394376395458396571564475
Expenses261251244240298350321340401343487498421
Operating Profit34393527454455555752846654
OPM %11%13%12%10%13%11%15%14%12%13%15%12%11%
Other Income109102313312422946221137
Interest1111111100000
Depreciation4566684444446
Profit before tax394238425166747262931027185
Tax %25%26%30%18%28%26%27%30%22%19%22%24%
Net Profit29312735364954504876795468
EPS in Rs42.4645.1639.4150.8553.6372.7683.2077.6074.41120.83131.8890.51113.32
Dividend Payout %20%22%25%22%21%1%1%1%65%145%46%30%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)6.90%-12.90%29.63%2.86%36.11%10.20%-7.41%-4.00%58.33%3.95%-31.65%
Change in YoY Net Profit Growth (%)0.00%-19.80%42.53%-26.77%33.25%-25.91%-17.61%3.41%62.33%-54.39%-35.59%

Growth

Compounded Sales Growth
10 Years:7%
5 Years:8%
3 Years:7%
TTM:-20%
Compounded Profit Growth
10 Years:7%
5 Years:1%
3 Years:3%
TTM:22%
Stock Price CAGR
10 Years:20%
5 Years:17%
3 Years:5%
1 Year:13%
Return on Equity
10 Years:10%
5 Years:10%
3 Years:11%
Last Year:10%

Last Updated: May 18, 2024, 7:44 am

Balance Sheet

Last Updated: April 24, 2024, 9:34 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital5555554666666
Reserves287310328352414470496605617676547567589
Borrowings15111314132061610974
Other Liabilities28312826202539524747454242
Total Liabilities334356374398451519545665676739606622641
Fixed Assets114115117112145150149218220216148204203
CWIP00001011426323756
Investments134151159193187246265278256322232258279
Other Assets86909792118123131154175169189156154
Total Assets334356374398451519545665676739606622641

Reserves and Borrowings Chart

Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 233214231131382040355655
Cash from Investing Activity -16-17-9-1511-29-0-13-3-23113-22
Cash from Financing Activity -7-12-7-8-210-39-6-35-19-164-38
Net Cash Flow04-1012-1-02-75-6

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow19.0028.0022.0013.0032.0024.0049.0054.0051.0042.0075.0059.00

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 Days312935343229372927393222
Inventory Days10511713612211810111914912013498113
Days Payable2128262219911105776
Cash Conversion Cycle115117145134131121145169142167122129
Working Capital Days5855737591818698871078174
ROCE %12%12%11%9%13%13%14%13%10%14%16%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters74.77%74.77%74.77%74.83%74.83%74.83%74.83%74.83%74.83%74.83%74.83%74.83%
FIIs0.03%0.23%0.28%0.28%0.27%0.27%0.29%0.27%0.27%0.27%0.27%0.27%
DIIs0.17%0.16%0.16%0.17%0.17%0.17%0.15%0.15%0.15%0.15%0.15%0.15%
Government0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Public25.01%24.81%24.76%24.70%24.71%24.72%24.70%24.74%24.74%24.73%24.75%24.73%
No. of Shareholders12,51316,12322,54116,00315,83515,85615,34515,34115,11615,02915,43714,968

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)90.51127.40118.4374.4177.59
Diluted EPS (Rs.)90.51127.40118.4374.4177.59
Cash EPS (Rs.)97.75139.05127.9481.0384.24
Book Value[Excl.RevalReserv]/Share (Rs.)951.45918.541087.92963.10945.63
Book Value[Incl.RevalReserv]/Share (Rs.)951.45918.541087.92963.10945.63
Dividend / Share (Rs.)27.0060.00175.0048.001.00
Revenue From Operations / Share (Rs.)936.13948.66631.15707.91609.79
PBDIT / Share (Rs.)126.56177.05156.23102.81118.42
PBIT / Share (Rs.)119.27169.80149.0496.15111.72
PBT / Share (Rs.)118.70169.10148.3495.58110.61
Net Profit / Share (Rs.)90.46131.80120.7674.3777.55
PBDIT Margin (%)13.5118.6624.7514.5219.41
PBIT Margin (%)12.7417.8923.6113.5818.32
PBT Margin (%)12.6817.8223.5013.5018.13
Net Profit Margin (%)9.6613.8919.1310.5012.71
Return on Networth / Equity (%)9.5014.3411.107.728.20
Return on Capital Employeed (%)12.2717.9713.189.5711.31
Return On Assets (%)8.7513.0910.247.117.54
Total Debt / Equity (X)0.010.010.010.010.00
Asset Turnover Ratio (%)0.910.840.550.680.65
Current Ratio (X)6.056.319.207.949.11
Quick Ratio (X)3.333.956.504.885.99
Inventory Turnover Ratio (X)3.493.862.823.072.93
Dividend Payout Ratio (NP) (%)66.28138.210.0064.500.85
Dividend Payout Ratio (CP) (%)61.34131.000.0059.200.79
Earning Retention Ratio (%)33.72-38.210.0035.5099.15
Cash Earning Retention Ratio (%)38.66-31.000.0040.8099.21
Interest Coverage Ratio (X)223.83250.39222.89181.25106.11
Interest Coverage Ratio (Post Tax) (X)160.99187.40173.29132.1270.49
Enterprise Value (Cr.)591.17663.27453.39311.54410.67
EV / Net Operating Revenue (X)1.051.161.150.681.04
EV / EBITDA (X)7.766.224.634.685.36
MarketCap / Net Operating Revenue (X)1.051.191.160.711.08
Retention Ratios (%)33.71-38.210.0035.4999.14
Price / BV (X)1.041.230.670.520.69
Price / Net Operating Revenue (X)1.051.191.160.711.08
EarningsYield0.090.110.160.140.11

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: ₹1,295.77

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.

Overvalued: 13.67% compared to the current price ₹1501

Intrinsic Value: ₹1,409.49

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.

Overvalued: 6.10% compared to the current price ₹1501

Last 5 Year EPS CAGR: 8.78%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (481.38 cr) compared to borrowings (9.92 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (392.46 cr) and profit (64.38 cr) over the years.
  1. The stock has a low average ROCE of 12.50%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 80.50, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 136.42, 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 Cheviot Company Ltd:
    1. Net Profit Margin: 9.66%
      • 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: 12.27% (Industry Average ROCE: 15.13%)
      • 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%: 9.50% (Industry Average ROE: 26.24%)
      • 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): 160.99
      • 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: 3.33
      • 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: 13.2 (Industry average Stock P/E: 57)
      • 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: 0.01
      • 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

Cheviot Company Ltd. is a Public Limited Listed company incorporated on 27/12/1897 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L65993WB1897PLC001409 and registration number is 001409. Currently Company is involved in the business activities of Spinning, weaving and finishing of textiles. Company’s Total Operating Revenue is Rs. 571.13 Cr. and Equity Capital is Rs. 6.02 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Jute/Jute Yarn/Jute Products24, Park Street, Kolkata West Bengal 700016investorservices@chevjute.com
http://www.cheviotgroup.com
Management
NamePosition Held
Mr. Harsh Vardhan KanoriaChairman & M.D & CEO
Mr. Utkarsh KanoriaWhole Time Director
Mrs. Malati KanoriaNon Exe.Non Ind.Director
Mr. Navin NayarInd. Non-Executive Director
Mr. Padam Kumar KhaitanInd. Non-Executive Director
Mrs. Rashmi PrashadInd. Non-Executive Director
Mr. Sushil Kumar DhandhaniaInd. Non-Executive Director
Mr. Abhishek MurarkaWhole Time Director

FAQ

What is the latest fair value of Cheviot Company Ltd?

The latest fair value of Cheviot Company Ltd is ₹1295.77.

What is the Market Cap of Cheviot Company Ltd?

The Market Cap of Cheviot Company Ltd is 903 Cr..

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

The current stock price of Cheviot Company Ltd as on 22 May 2024 is ₹1,501.

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

In FY 2024, the High / Low of Cheviot Company Ltd stocks is ₹1,627/1,101.

What is the Stock P/E of Cheviot Company Ltd?

The Stock P/E of Cheviot Company Ltd is 13.2.

What is the Book Value of Cheviot Company Ltd?

The Book Value of Cheviot Company Ltd is 988.

What is the Dividend Yield of Cheviot Company Ltd?

The Dividend Yield of Cheviot Company Ltd is 1.80 %.

What is the ROCE of Cheviot Company Ltd?

The ROCE of Cheviot Company Ltd is 12.7 %.

What is the ROE of Cheviot Company Ltd?

The ROE of Cheviot Company Ltd is 9.76 %.

What is the Face Value of Cheviot Company Ltd?

The Face Value of Cheviot Company Ltd is 10.0.

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 Cheviot Company 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