Stock P/E, Current Price, and Intrinsic Value Over Time
Competitors of Ester Industries Ltd
Stock Name
Market Cap
Current Price
High / Low
Stock P/E
Book Value
Dividend Yield
ROCE
ROE
Face Value
Industry Average
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Quarterly Result
Month
Sep 2020
Dec 2020
Mar 2021
Jun 2021
Sep 2021
Dec 2021
Mar 2022
Jun 2022
Sep 2022
Dec 2022
Mar 2023
Jun 2023
Sep 2023
Sales
251
256
297
319
259
288
303
324
302
193
295
258
261
Expenses
181
202
240
257
222
244
253
265
279
194
285
257
272
Operating Profit
70
54
57
62
37
44
50
59
23
-1
10
0
-10
OPM %
28%
21%
19%
19%
14%
15%
17%
18%
8%
-1%
3%
0%
-4%
Other Income
2
2
2
2
16
14
11
10
123
8
-1
9
10
Interest
4
5
6
5
5
6
9
7
8
8
14
17
18
Depreciation
9
9
9
9
9
10
10
10
10
10
14
16
17
Profit before tax
59
43
44
50
39
42
44
53
129
-12
-20
-24
-35
Tax %
25%
26%
27%
26%
17%
19%
25%
22%
4%
22%
10%
6%
13%
Net Profit
44
32
32
37
32
35
33
42
124
-9
-18
-22
-30
EPS in Rs
5.30
3.78
3.89
4.43
3.88
4.14
3.95
4.98
14.85
-1.11
-2.13
-2.65
-3.65
Last Updated: August 9, 2024, 6:40 pm
Quarterly Chart
Profit & Loss - Annual Report
Last Updated: August 9, 2024, 6:40 pm
Month
Mar 2008
Mar 2009
Mar 2010
Mar 2011
Mar 2012
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2021
Mar 2022
Mar 2023
TTM
Sales
318
372
395
671
698
884
928
895
768
992
1,110
1,114
1,006
Expenses
280
301
334
448
663
842
853
823
698
760
939
1,022
1,008
Operating Profit
38
71
61
223
35
42
74
72
71
231
171
93
-2
OPM %
12%
19%
15%
33%
5%
5%
8%
8%
9%
23%
15%
8%
-0%
Other Income
2
0
1
1
6
5
5
3
5
8
60
137
26
Interest
13
10
6
13
35
26
35
37
36
19
25
36
56
Depreciation
14
13
14
18
27
29
30
32
32
35
37
44
58
Profit before tax
12
48
41
193
-21
-8
14
5
7
185
169
149
-90
Tax %
20%
30%
33%
33%
34%
32%
41%
21%
33%
26%
19%
8%
Net Profit
10
33
28
129
-14
-5
8
4
5
137
137
137
-80
EPS in Rs
4.43
20.58
-2.21
-0.84
1.33
0.61
0.55
16.49
16.39
16.42
-9.54
Dividend Payout %
28%
8%
23%
19%
0%
0%
38%
0%
0%
21%
20%
3%
Profit & Loss Yearly Chart
YoY Net Profit Growth
Year
2008-2009
2009-2010
2010-2011
2011-2012
2012-2013
2013-2014
2014-2015
2015-2016
2021-2022
2022-2023
YoY Net Profit Growth (%)
230.00%
-15.15%
360.71%
-110.85%
64.29%
260.00%
-50.00%
25.00%
0.00%
0.00%
Change in YoY Net Profit Growth (%)
0.00%
-245.15%
375.87%
-471.57%
175.14%
195.71%
-310.00%
75.00%
-25.00%
0.00%
Ester Industries Ltd Growth
Compounded Sales Growth
10 Years:
1%
5 Years:
%
3 Years:
2%
TTM:
-5%
Compounded Profit Growth
10 Years:
%
5 Years:
%
3 Years:
%
TTM:
-188%
Stock Price CAGR
10 Years:
18%
5 Years:
32%
3 Years:
-10%
1 Year:
-4%
Return on Equity
10 Years:
%
5 Years:
%
3 Years:
8%
Last Year:
-17%
Last Updated: July 16, 2024, 5:46 pm
Balance Sheet
Last Updated: August 9, 2024, 6:40 pm
Month
Mar 2009
Mar 2010
Mar 2011
Mar 2012
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Equity Capital
28
31
31
31
31
31
31
42
42
42
42
47
Reserves
113
146
246
232
226
232
235
250
470
580
702
671
Borrowings
53
54
224
304
335
363
376
316
208
639
816
773
Other Liabilities
44
69
122
60
60
72
72
80
142
168
155
153
Total Liabilities
238
301
623
627
652
698
714
688
862
1,428
1,715
1,643
Fixed Assets
140
136
363
350
376
390
399
385
377
390
979
989
CWIP
0
37
5
17
5
18
12
23
76
435
79
83
Investments
0
0
1
1
0
0
0
0
1
0
154
69
Other Assets
97
129
254
258
272
290
303
280
407
604
503
502
Total Assets
238
301
623
627
652
698
714
688
862
1,428
1,715
1,643
Reserves and Borrowings Chart
Ester Industries Ltd Cash Flow
Month
Mar 2009
Mar 2010
Mar 2011
Mar 2012
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Cash from Operating ActivityÂ
66
46
83
47
23
52
68
81
146
62
58
44
Cash from Investing ActivityÂ
-5
-54
-222
-36
-27
-57
-36
-20
-147
-392
-199
42
Cash from Financing ActivityÂ
-60
10
140
-9
4
-2
-18
-75
3
384
114
-14
Net Cash Flow
1
2
1
3
-0
-7
14
-14
2
54
-28
72
Free Cash Flow
Month
Mar 2008
Mar 2009
Mar 2010
Mar 2011
Mar 2012
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2021
Mar 2022
Mar 2023
Free Cash Flow
38.00
18.00
7.00
-1.00
-269.00
-293.00
-289.00
-304.00
-245.00
23.00
-468.00
-723.00
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 2009
Mar 2010
Mar 2011
Mar 2012
Mar 2013
Mar 2014
Mar 2015
Mar 2016
Mar 2021
Mar 2022
Mar 2023
Mar 2024
Debtor Days
38
47
66
44
45
49
48
53
56
64
50
51
Inventory Days
50
59
86
77
69
69
74
96
98
110
88
70
Days Payable
27
46
67
14
11
11
11
17
27
34
17
31
Cash Conversion Cycle
60
60
85
107
103
106
111
132
126
139
121
90
Working Capital Days
59
55
69
85
77
78
78
86
91
119
105
114
ROCE %
29%
23%
56%
3%
3%
8%
7%
7%
14%
4%
-4%
Financial Efficiency Indicators Chart
Share Holding Pattern
Month
Sep 2021
Dec 2021
Mar 2022
Jun 2022
Sep 2022
Dec 2022
Mar 2023
Jun 2023
Sep 2023
Dec 2023
Mar 2024
Jun 2024
Promoters
64.04%
64.04%
64.04%
64.04%
64.04%
64.04%
64.04%
64.04%
64.04%
64.04%
62.45%
62.45%
FIIs
0.40%
0.28%
0.34%
0.39%
0.26%
0.25%
0.32%
0.16%
0.04%
0.03%
0.04%
0.03%
DIIs
0.03%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
Public
35.53%
35.66%
35.60%
35.55%
35.68%
35.69%
35.62%
35.78%
35.91%
35.92%
37.50%
37.49%
No. of Shareholders
36,414
34,147
39,477
38,565
36,674
39,661
40,802
40,445
41,564
41,447
41,428
37,803
Shareholding Pattern Chart
No. of Shareholders
This stock is not held by any mutual fund
ROCE Trend
EPS Trend
Key Financial Ratios
Month
Mar 24
Mar 23
Mar 22
Mar 21
Mar 16
FaceValue
5.00
5.00
5.00
5.00
5.00
Basic EPS (Rs.)
-14.49
16.42
16.39
16.49
0.57
Diluted EPS (Rs.)
-14.49
16.42
16.39
16.49
0.57
Cash EPS (Rs.)
-5.64
21.68
21.03
20.71
4.43
Book Value[Excl.RevalReserv]/Share (Rs.)
76.37
89.15
74.55
60.81
34.45
Book Value[Incl.RevalReserv]/Share (Rs.)
76.37
89.15
74.55
61.40
35.04
Revenue From Operations / Share (Rs.)
113.19
133.60
168.56
118.92
92.43
PBDIT / Share (Rs.)
0.36
12.49
29.95
28.68
9.02
PBIT / Share (Rs.)
-6.88
7.23
25.31
24.46
5.14
PBT / Share (Rs.)
-14.37
2.87
22.33
22.23
0.81
Net Profit / Share (Rs.)
-12.88
16.42
16.39
16.49
0.54
NP After MI And SOA / Share (Rs.)
-12.88
16.42
16.39
16.49
0.54
PBDIT Margin (%)
0.31
9.35
17.76
24.11
9.75
PBIT Margin (%)
-6.07
5.40
15.01
20.56
5.55
PBT Margin (%)
-12.69
2.14
13.24
18.69
0.88
Net Profit Margin (%)
-11.38
12.28
9.72
13.86
0.59
NP After MI And SOA Margin (%)
-11.38
12.28
9.72
13.86
0.59
Return on Networth / Equity (%)
-16.86
18.41
21.98
27.11
1.58
Return on Capital Employeed (%)
-5.32
4.44
18.24
30.15
10.11
Return On Assets (%)
-7.36
7.98
9.57
15.95
0.66
Long Term Debt / Equity (X)
0.61
0.72
0.76
0.19
0.33
Total Debt / Equity (X)
1.08
1.10
1.03
0.34
0.97
Asset Turnover Ratio (%)
0.63
0.70
1.43
0.00
1.10
Current Ratio (X)
1.27
1.69
1.95
1.91
1.03
Quick Ratio (X)
0.92
1.21
1.20
1.17
0.54
Inventory Turnover Ratio (X)
4.80
3.82
5.39
0.00
3.90
Dividend Payout Ratio (NP) (%)
0.00
11.57
20.12
24.26
0.00
Dividend Payout Ratio (CP) (%)
0.00
8.76
15.69
19.31
0.00
Earning Retention Ratio (%)
0.00
88.43
79.88
75.74
0.00
Cash Earning Retention Ratio (%)
0.00
91.24
84.31
80.69
0.00
Interest Coverage Ratio (X)
0.04
2.87
10.04
12.88
2.09
Interest Coverage Ratio (Post Tax) (X)
-0.72
1.32
6.50
8.40
1.13
Enterprise Value (Cr.)
1457.08
1488.41
1756.06
1119.01
706.40
EV / Net Operating Revenue (X)
1.37
1.34
1.25
1.13
0.91
EV / EBITDA (X)
430.02
14.29
7.03
4.68
9.39
MarketCap / Net Operating Revenue (X)
0.75
0.65
0.83
0.98
0.56
Retention Ratios (%)
0.00
88.42
79.87
75.73
0.00
Price / BV (X)
1.12
0.97
1.90
1.92
1.52
Price / Net Operating Revenue (X)
0.75
0.65
0.83
0.98
0.56
EarningsYield
-0.15
0.18
0.11
0.14
0.01
Profitability Ratios (%)
Liquidity Ratios
Liquidity Ratios (%)
Interest Coverage Ratios (%)
Valuation Ratios
Fair Value
Fair Value: ₹190.92
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: 39.36% compared to the current price ₹137.00
Default values used*: Default value of 15 for Stock P/E is used
Intrinsic Value: 118.00
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 intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.
Overvalued: 13.87% compared to the current price ₹137.00
Default values used*: Default value of 15 for Stock P/E is used
Last 5 Year EPS CAGR: -38.20%
*Investments are subject to market risks
Strength and Weakness
Strength
Weakness
The company has shown consistent growth in sales (532.62 cr) and profit (54.15 cr) over the years.
The stock has a low average ROCE of 12.50%, which may not be favorable.
The stock has a high average Working Capital Days of 84.67, which may not be favorable.
The stock has a high average Cash Conversion Cycle of 103.33, which may not be favorable.
The company has higher borrowings (371.75) compared to reserves (341.92), which may suggest financial risk.
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 Ester Industries Ltd:
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.
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.
ROE%: -16.86% (Industry Average ROE: 0%)
ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
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.
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.
Stock P/E: 0 (Industry average Stock P/E: 0)
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.
Total Debt / Equity: 1.08
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
Ester Industries Ltd. is a Public Limited Listed company incorporated on 04/02/1985 and has its registered office in the State of Uttarakhand/Uttaranchal, India. Company’s Corporate Identification Number(CIN) is L24111UR1985PLC015063 and registration number is 015063. Currently Company is involved in the business activities of Manufacture of moulded industrial accessories of plastics [including electrical insulating fittings of plastics]. Company’s Total Operating Revenue is Rs. 1405.66 Cr. and Equity Capital is Rs. 41.70 Cr. for the Year ended 31/03/2022.
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 Ester Industries 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
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