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Last Updated on: 05 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 542013 | NSE: DOLFIN

Dolfin Rubbers Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 4, 2024, 5:00 pm

Market Cap 223 Cr.
Current Price 222
High / Low290/114
Stock P/E39.1
Book Value 28.2
Dividend Yield0.00 %
ROCE19.1 %
ROE17.9 %
Face Value 10.0
PEG Ratio2.62

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

View Share Price Target for Dolfin Rubbers Ltd

Competitors of Dolfin Rubbers Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Eastern Treads Ltd 24.1 Cr. 46.051.4/31.0 18.50.00 %0.62 %% 10.0
Dolfin Rubbers Ltd 223 Cr. 222290/11439.1 28.20.00 %19.1 %17.9 % 10.0
Vikas Ecotech Ltd 614 Cr. 3.475.65/3.0040.6 2.710.00 %4.53 %2.07 % 1.00
Modi Rubber Ltd 309 Cr. 123157/79.116.5 2620.00 %3.72 %1.97 % 10.0
Harrisons Malayalam Ltd 510 Cr. 276302/142 77.80.00 %5.39 %0.10 % 10.0
Industry Average915.67 Cr636.7840.48115.600.24%8.91%8.07%7.57

All Competitor Stocks of Dolfin Rubbers Ltd

Quarterly Result

MonthJun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales23.2724.3922.6031.3927.6336.6627.0434.6138.64
Expenses21.9022.8821.0029.4925.8633.9925.2032.1635.68
Operating Profit1.371.511.601.901.772.671.842.452.96
OPM %5.89%6.19%7.08%6.05%6.41%7.28%6.80%7.08%7.66%
Other Income0.060.020.010.050.120.000.080.260.09
Interest0.000.180.210.320.270.290.260.230.27
Depreciation0.320.320.320.330.360.370.380.400.36
Profit before tax1.111.031.081.301.262.011.282.082.42
Tax %-2.70%29.13%58.33%23.08%30.95%26.87%27.34%28.37%24.38%
Net Profit1.130.740.450.990.871.460.921.491.84
EPS in Rs1.130.740.450.990.871.460.921.491.83

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2010Mar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales1719225470778284102126137
Expenses161821526773787895117127
Operating Profit111334567910
OPM %5%5%5%5%5%5%6%7%6%7%7%
Other Income-00000000000
Interest00000001111
Depreciation00011111122
Profit before tax01123344578
Tax %22%17%30%27%36%26%30%27%27%28%
Net Profit00012333356
EPS in Rs2.332.592.501.771.872.562.842.803.304.745.70
Dividend Payout %0%0%0%0%0%29%32%0%36%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)100.00%50.00%0.00%0.00%0.00%66.67%
Change in YoY Net Profit Growth (%)0.00%-50.00%-50.00%0.00%0.00%66.67%

Dolfin Rubbers Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2018-2019 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:%
5 Years:12%
3 Years:15%
TTM:29%
Compounded Profit Growth
10 Years:%
5 Years:20%
3 Years:19%
TTM:87%
Stock Price CAGR
10 Years:%
5 Years:51%
3 Years:62%
1 Year:89%
Return on Equity
10 Years:%
5 Years:15%
3 Years:15%
Last Year:18%

Last Updated: Unknown

Balance Sheet

Last Updated: October 15, 2024, 1:50 pm

MonthMar 2010Mar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital111688881010
Reserves122281012141518
Borrowings33442411101315
Other Liabilities44488910152020
Total Liabilities9101220253140475863
Fixed Assets333991118192025
CWIP00-0024-012-0
Investments-0-0-0-0-0-0-0-0-0-0
Other Assets67911141623273638
Total Assets9101220253140475863

Reserves and Borrowings Chart

Cash Flow

MonthMar 2010Mar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 0002-222225
Cash from Investing Activity 000-1-3-4-2-3-4-4
Cash from Financing Activity 000-052112-2
Net Cash Flow0000-000010

Free Cash Flow

MonthMar 2010Mar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-2.00-2.00-3.00-1.001.000.00-6.00-4.00-6.00-6.00

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 2010Mar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days56435954495454515445
Inventory Days71969015242452929490
Days Payable69716145192621293921
Cash Conversion Cycle59688824545286114109114
Working Capital Days52657921364670838981
ROCE %15%14%21%18%16%15%16%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Sep 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters33.06%33.76%35.56%35.69%35.89%36.00%36.10%36.10%36.10%36.10%36.10%36.22%
Public66.94%66.24%64.44%64.31%64.11%64.01%63.90%63.90%63.90%63.90%63.90%63.78%
No. of Shareholders1991932562477408177607959801,1431,5782,398

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)4.733.303.683.773.41
Diluted EPS (Rs.)4.733.303.683.773.41
Cash EPS (Rs.)6.244.605.214.884.37
Book Value[Excl.RevalReserv]/Share (Rs.)28.1924.6028.6626.1823.41
Book Value[Incl.RevalReserv]/Share (Rs.)28.1924.6028.6626.1823.41
Dividend / Share (Rs.)0.000.000.001.201.00
Revenue From Operations / Share (Rs.)125.57101.34111.00109.67101.99
PBDIT / Share (Rs.)9.166.677.616.625.73
PBIT / Share (Rs.)7.665.386.095.514.77
PBT / Share (Rs.)6.604.505.075.354.62
Net Profit / Share (Rs.)4.733.303.683.773.41
PBDIT Margin (%)7.296.586.866.035.61
PBIT Margin (%)6.095.305.485.024.67
PBT Margin (%)5.254.444.574.874.52
Net Profit Margin (%)3.763.263.313.433.34
Return on Networth / Equity (%)16.7813.4312.8314.4014.55
Return on Capital Employeed (%)18.0614.2214.5715.8616.36
Return On Assets (%)7.555.725.927.048.32
Long Term Debt / Equity (X)0.090.080.070.130.06
Total Debt / Equity (X)0.510.520.480.530.24
Asset Turnover Ratio (%)2.091.941.922.322.75
Current Ratio (X)1.821.731.691.541.75
Quick Ratio (X)0.840.900.840.991.39
Inventory Turnover Ratio (X)4.414.505.219.9415.82
Dividend Payout Ratio (NP) (%)0.000.0032.6126.500.00
Dividend Payout Ratio (CP) (%)0.000.0023.0420.500.00
Earning Retention Ratio (%)0.000.0067.3973.500.00
Cash Earning Retention Ratio (%)0.000.0076.9679.500.00
Interest Coverage Ratio (X)8.707.587.5140.7437.83
Interest Coverage Ratio (Post Tax) (X)5.494.754.6324.2323.51
Enterprise Value (Cr.)161.36137.4499.6345.1634.79
EV / Net Operating Revenue (X)1.281.351.190.540.45
EV / EBITDA (X)17.5520.5317.399.078.08
MarketCap / Net Operating Revenue (X)1.171.231.070.420.39
Retention Ratios (%)0.000.0067.3873.490.00
Price / BV (X)5.225.074.151.771.74
Price / Net Operating Revenue (X)1.171.231.070.420.39
EarningsYield0.030.020.030.080.08

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Dolfin Rubbers Ltd as of November 5, 2024 is: 201.32

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 November 5, 2024, Dolfin Rubbers Ltd is Overvalued by 9.32% compared to the current share price ₹222.00

Intrinsic Value of Dolfin Rubbers Ltd as of November 5, 2024 is: 231.42

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 November 5, 2024, Dolfin Rubbers Ltd is Undervalued by 4.24% compared to the current share price ₹222.00

Last 5 Year EPS CAGR: 14.95%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (8.40 cr) compared to borrowings (6.90 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (71.82 cr) and profit (3.45 cr) over the years.
  1. The stock has a low average ROCE of 13.40%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 62.20, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 76.80, 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 Dolfin Rubbers Ltd:
    1. Net Profit Margin: 3.76%
      • 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: 18.06% (Industry Average ROCE: 8.91%)
      • 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%: 16.78% (Industry Average ROE: 6.92%)
      • 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): 5.49
      • 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: 0.84
      • 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: 39.1 (Industry average Stock P/E: 28.91)
      • 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: 0.51
      • 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

Dolfin Rubbers Ltd. is a Public Limited Listed company incorporated on 12/10/1995 and has its registered office in the State of Punjab, India. Company’s Corporate Identification Number(CIN) is L25112PB1995PLC017160 and registration number is 017160. Currently Company is involved in the business activities of Manufacture of rubber tyres and tubes for motor vehicles, motorcycles, scooters, three-wheelers, tractors and aircraft. Company’s Total Operating Revenue is Rs. 83.50 Cr. and Equity Capital is Rs. 7.52 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Rubber Processing/Rubber Products26-A, Bhai Randhir Singh Nagar, Ludhiana Punjab 141012dolfintube@gmail.com
https://www.dolfintyres.com
Management
NamePosition Held
Mr. Kawaljit SinghChairman & Managing Director
Mr. Surinder Pal SinghJoint Managing Director
Mrs. Ratinder KaurWhole Time Director
Mr. Kanwaljit SinghWhole Time Director
Mr. Yashul GoyalIndependent Director
Mr. Tarundeep SinghIndependent Director
Ms. Amandeep KaurIndependent Director
Ms. Gurpreet KaurIndependent Director

FAQ

What is the latest fair value of Dolfin Rubbers Ltd?

The latest fair value of Dolfin Rubbers Ltd is ₹201.32.

What is the Market Cap of Dolfin Rubbers Ltd?

The Market Cap of Dolfin Rubbers Ltd is 223 Cr..

What is the current Stock Price of Dolfin Rubbers Ltd as on 05 November 2024?

The current stock price of Dolfin Rubbers Ltd as on 05 November 2024 is 222.

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

In FY 2024, the High / Low of Dolfin Rubbers Ltd stocks is 290/114.

What is the Stock P/E of Dolfin Rubbers Ltd?

The Stock P/E of Dolfin Rubbers Ltd is 39.1.

What is the Book Value of Dolfin Rubbers Ltd?

The Book Value of Dolfin Rubbers Ltd is 28.2.

What is the Dividend Yield of Dolfin Rubbers Ltd?

The Dividend Yield of Dolfin Rubbers Ltd is 0.00 %.

What is the ROCE of Dolfin Rubbers Ltd?

The ROCE of Dolfin Rubbers Ltd is 19.1 %.

What is the ROE of Dolfin Rubbers Ltd?

The ROE of Dolfin Rubbers Ltd is 17.9 %.

What is the Face Value of Dolfin Rubbers Ltd?

The Face Value of Dolfin Rubbers 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 Dolfin Rubbers 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