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Last Updated on: 22 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 531508 | NSE: EVEREADY

Eveready Industries India Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 11:19 pm

Market Cap 2,715 Cr.
Current Price 375
High / Low505/295
Stock P/E36.0
Book Value 60.2
Dividend Yield0.27 %
ROCE16.2 %
ROE19.1 %
Face Value 5.00
PEG Ratio-2.02

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

View Share Price Target for Eveready Industries India Ltd

Competitors of Eveready Industries India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Panasonic Energy India Company Ltd 330 Cr. 440615/35824.0 1392.01 %16.0 %12.0 % 10.0
Eveready Industries India Ltd 2,715 Cr. 375505/29536.0 60.20.27 %16.2 %19.1 % 5.00
Industry Average1,522.50 Cr407.5030.0099.601.14%16.10%15.55%7.50

All Competitor Stocks of Eveready Industries India Ltd

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales272.63282.14357.49325.89241.24335.38375.75330.43286.17363.57364.89304.91280.90
Expenses232.96224.15301.17285.32276.85293.27332.76306.46285.14319.77318.57280.23255.38
Operating Profit39.6757.9956.3240.57-35.6142.1142.9923.971.0343.8046.3224.6825.52
OPM %14.55%20.55%15.75%12.45%-14.76%12.56%11.44%7.25%0.36%12.05%12.69%8.09%9.09%
Other Income-659.520.901.191.690.910.420.500.037.642.840.050.38-0.38
Interest11.6514.2712.5110.8110.4410.6315.719.5720.738.998.207.897.24
Depreciation6.526.816.786.867.036.606.866.887.057.207.176.859.03
Profit before tax-638.0237.8138.2224.59-52.1725.3020.927.55-19.1130.4531.0010.328.87
Tax %-30.64%20.31%18.79%3.58%-26.39%13.64%29.59%27.95%-24.70%18.36%17.94%18.51%9.24%
Net Profit-442.5330.1331.0423.71-38.4021.8514.735.44-14.3924.8625.448.418.05
EPS in Rs-60.884.154.273.26-5.283.012.030.75-1.983.423.501.161.11

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,0351,1531,2791,3241,3571,4561,5071,2211,2491,2071,3281,314
Expenses9701,0631,1551,2011,2231,3521,3821,1001,0241,0881,2181,173
Operating Profit6691124123134104124121225119110141
OPM %6%8%10%9%10%7%8%10%18%10%8%11%
Other Income994892012198-628592
Interest404134312429557152485732
Depreciation354232141519222927272730
Profit before tax-11662861057660219-482483581
Tax %-768%18%21%19%11%30%20%19%-35%4%20%17%
Net Profit5144969945348178-312462867
EPS in Rs0.701.876.739.5012.877.316.5824.53-42.866.393.809.19
Dividend Payout %0%267%0%21%0%21%0%0%0%0%0%11%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)180.00%250.00%40.82%36.23%-43.62%-9.43%270.83%-275.28%114.74%-39.13%139.29%
Change in YoY Net Profit Growth (%)0.00%70.00%-209.18%-4.58%-79.85%34.18%280.27%-546.11%390.02%-153.87%178.42%

Eveready Industries India 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:1%
5 Years:-3%
3 Years:2%
TTM:-4%
Compounded Profit Growth
10 Years:22%
5 Years:2%
3 Years:-40%
TTM:82%
Stock Price CAGR
10 Years:7%
5 Years:46%
3 Years:5%
1 Year:9%
Return on Equity
10 Years:22%
5 Years:28%
3 Years:15%
Last Year:19%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 12:33 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital36363636363636363636363636
Reserves548557588170253306340519209254283350401
Borrowings276225228200216264408394447396398307285
Other Liabilities244289248263300422423307330253265270357
Total Liabilities1,1041,1081,1016698051,0291,2071,2561,0229399839631,079
Fixed Assets764730696222334357343328314305310293313
CWIP9142822635334185
Investments0000007510888
Other Assets332363376425465668853919704630664654755
Total Assets1,1041,1081,1016698051,0291,2071,2561,0229399839631,079

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +64937212582817013317313437154
Cash from Investing Activity +-12-6-29-56-68-100-145-15-106-55-19-23
Cash from Financing Activity +-51-90-37-80-5-3776-114-4-108-59-127
Net Cash Flow1-36-119-562463-29-424

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-210.00-134.00-104.00-77.00-82.00-160.00-284.00-273.00-222.00-277.00-288.00-166.00

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 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days161614192330331510112832
Inventory Days11712211710512412195104131122115122
Days Payable102109898896124988995817482
Cash Conversion Cycle312842365027303046516972
Working Capital Days672220273959126-1345555
ROCE %5%6%11%18%28%18%19%15%25%14%13%16%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters4.84%4.84%4.90%4.84%43.21%43.21%43.21%43.21%43.21%43.21%43.20%43.19%
FIIs2.21%2.47%3.34%0.88%0.87%0.62%0.44%0.40%0.48%0.46%3.60%3.68%
DIIs1.43%1.17%1.59%1.17%1.65%1.54%2.42%2.17%2.93%2.55%2.66%2.59%
Public91.52%91.52%90.18%93.10%54.26%54.64%53.92%54.21%53.39%53.78%50.54%50.53%
No. of Shareholders55,22458,83957,59156,18653,00750,85850,34649,59554,25658,52157,63966,002

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Tata Small Cap Fund1,772,9160.7961.781,772,9162024-11-160%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue5.005.005.005.005.00
Basic EPS (Rs.)9.183.806.39-42.8624.53
Diluted EPS (Rs.)9.183.806.39-42.8624.53
Cash EPS (Rs.)13.357.5710.36-38.5528.68
Book Value[Excl.RevalReserv]/Share (Rs.)53.2143.9539.9133.6976.43
Book Value[Incl.RevalReserv]/Share (Rs.)53.2143.9539.9133.6976.43
Revenue From Operations / Share (Rs.)180.83182.66166.02171.83167.99
PBDIT / Share (Rs.)19.7016.3317.2431.7323.12
PBIT / Share (Rs.)15.5412.5613.4627.9819.13
PBT / Share (Rs.)11.094.776.85-65.8130.26
Net Profit / Share (Rs.)9.183.806.58-42.3024.69
NP After MI And SOA / Share (Rs.)9.183.806.39-42.8624.53
PBDIT Margin (%)10.898.9310.3818.4613.76
PBIT Margin (%)8.596.878.1016.2811.38
PBT Margin (%)6.132.614.12-38.2918.01
Net Profit Margin (%)5.072.083.96-24.6114.69
NP After MI And SOA Margin (%)5.072.083.85-24.9414.60
Return on Networth / Equity (%)17.268.6416.02-127.1932.09
Return on Capital Employeed (%)20.2216.4819.4341.2618.81
Return On Assets (%)6.932.814.94-30.6414.19
Long Term Debt / Equity (X)0.370.650.630.890.26
Total Debt / Equity (X)0.731.171.281.380.49
Asset Turnover Ratio (%)1.351.381.231.100.98
Current Ratio (X)1.151.080.940.911.58
Quick Ratio (X)0.520.470.390.441.18
Inventory Turnover Ratio (X)1.972.341.881.891.93
Interest Coverage Ratio (X)4.432.102.614.432.38
Interest Coverage Ratio (Post Tax) (X)3.071.492.007.191.39
Enterprise Value (Cr.)2707.912466.532750.372222.98625.43
EV / Net Operating Revenue (X)2.061.862.281.780.51
EV / EBITDA (X)18.9120.7821.959.643.72
MarketCap / Net Operating Revenue (X)1.851.582.021.570.29
Price / BV (X)6.296.578.398.030.65
Price / Net Operating Revenue (X)1.851.582.021.570.29
EarningsYield0.020.010.01-0.150.49

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Eveready Industries India Ltd as of November 22, 2024 is: 415.05

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 22, 2024, Eveready Industries India Ltd is Undervalued by 10.68% compared to the current share price 375.00

Intrinsic Value of Eveready Industries India Ltd as of November 22, 2024 is: 341.05

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 22, 2024, Eveready Industries India Ltd is Overvalued by 9.05% compared to the current share price 375.00

Last 5 Year EPS CAGR: -17.83%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 15.67%, which is a positive sign.
  2. The company has higher reserves (367.54 cr) compared to borrowings (311.08 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (1.00 cr) and profit (25.42 cr) over the years.
  1. The stock has a high average Working Capital Days of 37.42, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 42.67, 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 Eveready Industries India Ltd:
    1. Net Profit Margin: 5.07%
      • 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: 20.22% (Industry Average ROCE: 16.1%)
      • 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%: 17.26% (Industry Average ROE: 15.55%)
      • 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): 3.07
      • 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: 0.52
      • 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 (Industry average Stock P/E: 30)
      • 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: 0.73
      • 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

Eveready Industries India Ltd. is a Public Limited Listed company incorporated on 20/06/1934 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L31402WB1934PLC007993 and registration number is 007993. Currently Company is involved in the business activities of Manufacture of primary cells and primary batteries nd rechargable batteries, cells containing manganese oxide, mercuric oxide silver oxide or other material. Company’s Total Operating Revenue is Rs. 1206.76 Cr. and Equity Capital is Rs. 36.34 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Dry Cells2, Rainey Park, Kolkata West Bengal 700019investorrelation@eveready.co.in
http://www.evereadyindia.com
Management
NamePosition Held
Mr. Suvamoy SahaManaging Director
Mr. Utsav ParekhNon Executive Director
Mr. Girish MehtaNon Executive Director
Ms. Arundhuti DharNon Exe. & Ind. Director
Mr. Mahesh ShahNon Exe. & Ind. Director
Mr. Roshan L JosephNon Exe. & Ind. Director
Mr. Sourav BhagatNon Exe. & Ind. Director
Mr. Sunil SikkaNon Exe. & Ind. Director
Mr. Sunil Kumar AlaghNon Exe. & Ind. Director
Mr. Mohit BurmanNon Executive Director
Mr. Anand Chand BurmanChairman & Non-Exe.Director
Mr. Arjun LambaNon Executive Director

FAQ

What is the latest intrinsic value of Eveready Industries India Ltd?

The latest intrinsic value of Eveready Industries India Ltd as on 22 November 2024 is ₹415.05, which is 10.68% higher than the current market price of ₹375.00.

What is the Market Cap of Eveready Industries India Ltd?

The Market Cap of Eveready Industries India Ltd is 2,715 Cr..

What is the current Stock Price of Eveready Industries India Ltd as on 22 November 2024?

The current stock price of Eveready Industries India Ltd as on 22 November 2024 is 375.

What is the High / Low of Eveready Industries India Ltd stocks in FY 2024?

In FY 2024, the High / Low of Eveready Industries India Ltd stocks is 505/295.

What is the Stock P/E of Eveready Industries India Ltd?

The Stock P/E of Eveready Industries India Ltd is 36.0.

What is the Book Value of Eveready Industries India Ltd?

The Book Value of Eveready Industries India Ltd is 60.2.

What is the Dividend Yield of Eveready Industries India Ltd?

The Dividend Yield of Eveready Industries India Ltd is 0.27 %.

What is the ROCE of Eveready Industries India Ltd?

The ROCE of Eveready Industries India Ltd is 16.2 %.

What is the ROE of Eveready Industries India Ltd?

The ROE of Eveready Industries India Ltd is 19.1 %.

What is the Face Value of Eveready Industries India Ltd?

The Face Value of Eveready Industries India Ltd is 5.00.

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 Eveready Industries India 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