Flex Foods Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 12:58 am

Market Cap	92.6 Cr.
Current Price	74.3
High / Low	164/74.0
Stock P/E
Book Value	44.2
Dividend Yield	0.67 %
ROCE	5.33 %
ROE	29.2 %
Face Value	10.0
PEG Ratio	0.00

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Nakoda Group of Industries Ltd	55.8 Cr.	40.0	59.5/33.3		11.8	0.00 %	1.80 %	12.1 %	10.0
ICL Organic Dairy Products Ltd	23.8 Cr.	39.7	39.7/39.7	1,192	20.1	0.00 %	0.25 %	0.17 %	10.0
Himalaya Food International Ltd	112 Cr.	19.3	29.9/19.0	17.8	24.4	0.00 %	3.63 %	3.61 %	10.0
Goldcoin Health Foods Ltd	3.38 Cr.	11.3	13.6/6.14		3.43	0.00 %	18.4 %	24.2 %	10.0
Galaxy Cloud Kitchens Ltd	282 Cr.	62.7	67.5/12.2		4.78	0.00 %	%	%	10.0
Industry Average	17,909.76 Cr	828.55		196.45	120.94	0.20%	18.35%	18.37%	6.63

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	21.91	34.62	25.80	28.30	27.82	28.56	26.15	34.80	26.95	22.66	27.90	44.44	39.67
Expenses	17.20	29.32	21.88	23.83	23.54	26.61	26.52	29.57	23.49	24.47	38.23	37.95	37.87
Operating Profit	4.71	5.30	3.92	4.47	4.28	1.95	-0.37	5.23	3.46	-1.81	-10.33	6.49	1.80
OPM %	21.50%	15.31%	15.19%	15.80%	15.38%	6.83%	-1.41%	15.03%	12.84%	-7.99%	-37.03%	14.60%	4.54%
Other Income	0.71	0.34	0.09	0.47	0.14	0.07	0.47	-0.07	0.03	0.03	0.04	0.31	0.07
Interest	0.36	0.43	0.36	1.28	0.77	1.01	2.47	11.81	3.43	3.34	4.87	5.59	5.08
Depreciation	1.27	1.29	1.32	1.30	1.40	1.55	3.16	3.53	3.64	4.22	4.22	4.15	4.14
Profit before tax	3.79	3.92	2.33	2.36	2.25	-0.54	-5.53	-10.18	-3.58	-9.34	-19.38	-2.94	-7.35
Tax %	26.39%	26.02%	36.05%	17.80%	30.22%	-14.81%	-23.51%	-26.52%	-31.01%	-26.23%	-23.53%	-40.48%	-25.44%
Net Profit	2.79	2.90	1.49	1.94	1.57	-0.46	-4.23	-7.48	-2.47	-6.89	-14.82	-1.75	-5.48
EPS in Rs	2.24	2.33	1.20	1.56	1.26	-0.37	-3.40	-6.01	-1.98	-5.53	-11.90	-1.41	-4.40

Last Updated: October 7, 2024, 8:04 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	53	66	72	83	85	91	84	80	102	111	116	119	135
Expenses	43	50	54	64	66	74	67	69	82	92	105	122	139
Operating Profit	10	16	19	18	19	17	18	12	20	20	11	-2	-4
OPM %	18%	24%	26%	22%	22%	19%	21%	15%	20%	18%	10%	-2%	-3%
Other Income	3	3	2	2	2	2	2	2	2	0	1	0	0
Interest	2	2	3	4	5	4	3	2	2	2	16	17	19
Depreciation	3	4	4	4	5	5	5	5	5	5	10	16	17
Profit before tax	7	14	14	13	11	11	11	6	15	12	-14	-35	-39
Tax %	24%	24%	35%	37%	30%	36%	-0%	-19%	22%	26%	-24%	-26%
Net Profit	6	10	9	8	8	7	11	7	12	9	-11	-26	-29
EPS in Rs	4.48	8.31	7.56	6.56	6.31	5.47	8.86	5.45	9.64	7.33	-8.51	-20.83	-23.24
Dividend Payout %	45%	27%	30%	38%	40%	0%	11%	14%	10%	14%	-6%	-2%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	66.67%	-10.00%	-11.11%	0.00%	-12.50%	57.14%	-36.36%	71.43%	-25.00%	-222.22%	-136.36%
Change in YoY Net Profit Growth (%)	0.00%	-76.67%	-1.11%	11.11%	-12.50%	69.64%	-93.51%	107.79%	-96.43%	-197.22%	85.86%

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:	6%
5 Years:	7%
3 Years:	5%
TTM:	35%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-72%

Stock Price CAGR
10 Years:	2%
5 Years:	13%
3 Years:	-10%
1 Year:	-30%

Return on Equity
10 Years:	4%
5 Years:	-2%
3 Years:	-9%
Last Year:	-29%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 3:36 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	12	12	12	12	12	12	12	12	12	12	12	12	12
Reserves	40	48	51	60	64	66	77	82	93	101	90	63	43
Borrowings	14	26	25	40	36	31	27	18	15	149	236	263	281
Other Liabilities	17	20	24	27	28	29	24	27	27	38	41	55	56
Total Liabilities	83	106	113	139	141	139	141	139	149	300	379	392	392
Fixed Assets	40	52	55	76	75	81	83	80	76	78	234	268	261
CWIP	1	1	2	0	1	0	1	1	1	124	49	2	2
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	42	54	55	63	65	58	57	58	72	99	96	122	129
Total Assets	83	106	113	139	141	139	141	139	149	300	379	392	392

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	6	12	11	26	10	18	17	17	13	2	7	-13
Cash from Investing Activity +	-1	-13	-7	-21	-4	-11	-7	-2	-1	-129	-88	-3
Cash from Financing Activity +	-5	5	-7	4	-12	-12	-8	-13	-5	130	68	15
Net Cash Flow	0	4	-4	9	-6	-5	2	1	7	3	-13	-1

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-4.00	-10.00	-6.00	-22.00	-17.00	-14.00	-9.00	-6.00	5.00	-129.00	-225.00	-265.00

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 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	66	93	62	82	87	82	73	48	92	89	94	116
Inventory Days	368	365	680	464	590	389	681	671	278	257	602	641
Days Payable	150	165	254	262	288	178	210	245	100	139	315	362
Cash Conversion Cycle	284	293	488	284	389	294	544	474	269	207	380	395
Working Capital Days	147	135	102	101	138	124	132	124	121	110	173	180
ROCE %	14%	21%	20%	17%	14%	13%	13%	7%	15%	8%	1%	-5%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	59.68%	59.68%	59.78%	59.85%	59.85%	59.85%	59.85%	59.85%	59.85%	59.85%	59.85%	59.85%
Public	40.32%	40.32%	40.22%	40.14%	40.16%	40.15%	40.15%	40.14%	40.15%	40.15%	40.15%	40.15%
No. of Shareholders	12,939	12,853	12,764	12,432	12,034	12,082	11,822	11,579	10,780	10,162	9,612	9,651

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 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	-20.83	-8.51	7.32	9.63	5.45
Diluted EPS (Rs.)	-20.83	-8.51	7.32	9.63	5.45
Cash EPS (Rs.)	-7.79	-0.76	11.48	13.82	9.81
Book Value[Excl.RevalReserv]/Share (Rs.)	60.44	81.94	91.46	85.09	76.04
Book Value[Incl.RevalReserv]/Share (Rs.)	60.44	81.94	91.46	85.09	76.04
Dividend / Share (Rs.)	0.50	0.50	1.00	1.00	0.75
Revenue From Operations / Share (Rs.)	97.41	94.24	88.69	82.71	65.46
PBDIT / Share (Rs.)	-1.43	9.40	16.07	18.25	10.93
PBIT / Share (Rs.)	-14.46	1.66	11.91	14.06	6.58
PBT / Share (Rs.)	-28.30	-11.24	9.96	12.38	4.58
Net Profit / Share (Rs.)	-20.83	-8.51	7.32	9.63	5.45
PBDIT Margin (%)	-1.46	9.97	18.12	22.06	16.70
PBIT Margin (%)	-14.84	1.76	13.43	17.00	10.05
PBT Margin (%)	-29.05	-11.93	11.23	14.96	6.99
Net Profit Margin (%)	-21.38	-9.03	8.25	11.64	8.33
Return on Networth / Equity (%)	-34.45	-10.38	8.00	11.32	7.17
Return on Capital Employeed (%)	-6.51	0.70	6.49	15.27	7.65
Return On Assets (%)	-6.60	-2.79	3.03	8.06	4.88
Long Term Debt / Equity (X)	2.61	1.79	0.93	0.00	0.03
Total Debt / Equity (X)	3.47	2.29	1.31	0.13	0.15
Asset Turnover Ratio (%)	0.31	0.34	0.49	0.71	0.58
Current Ratio (X)	0.96	1.08	1.09	1.95	1.68
Quick Ratio (X)	0.55	0.65	0.81	1.35	0.90
Inventory Turnover Ratio (X)	0.86	1.03	1.18	0.93	0.69
Dividend Payout Ratio (NP) (%)	-2.40	-11.74	13.65	7.78	3.76
Dividend Payout Ratio (CP) (%)	-6.41	-130.31	8.70	5.42	2.09
Earning Retention Ratio (%)	102.40	111.74	86.35	92.22	96.24
Cash Earning Retention Ratio (%)	106.41	230.31	91.30	94.58	97.91
Interest Coverage Ratio (X)	-0.10	0.72	8.23	10.84	5.47
Interest Coverage Ratio (Post Tax) (X)	-0.50	0.34	4.75	6.72	3.73
Enterprise Value (Cr.)	396.34	325.62	242.12	98.01	46.24
EV / Net Operating Revenue (X)	3.27	2.78	2.19	0.95	0.56
EV / EBITDA (X)	-222.98	27.81	12.10	4.31	3.40
MarketCap / Net Operating Revenue (X)	1.13	0.81	0.98	0.93	0.45
Retention Ratios (%)	102.40	111.74	86.34	92.21	96.23
Price / BV (X)	1.82	0.93	0.95	0.91	0.39
Price / Net Operating Revenue (X)	1.13	0.81	0.98	0.93	0.45
EarningsYield	-0.18	-0.11	0.08	0.12	0.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 194.89

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 December 21, 2024, is Undervalued by 162.30% compared to the current share price 74.30

Default values used*: Default value of 15 for Stock P/E is used

Intrinsic Value of as of December 21, 2024 is: 96.34

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 December 21, 2024, is Undervalued by 29.66% compared to the current share price 74.30

Default values used*: Default value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: -50.57%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has shown consistent growth in sales (92.08 cr) and profit (2.00 cr) over the years.	The stock has a low average ROCE of 11.50%, which may not be favorable. The stock has a high average Working Capital Days of 132.25, which may not be favorable. The stock has a high average Cash Conversion Cycle of 358.42, which may not be favorable. The company has higher borrowings (89.31) compared to reserves (67.54), which may suggest financial risk.

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 :
1. Net Profit Margin: -21.38%
  - 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: -6.51% (Industry Average ROCE: 17.74%)
  - 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%: -34.45% (Industry Average ROE: 17.75%)
  - 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): -0.5
  - 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: 0.55
  - 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: 0 (Industry average Stock P/E: 157.16)
  - 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: 3.47
  - 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

Flex Foods Ltd. is a Public Limited Listed company incorporated on 05/02/1990 and has its registered office in the State of Uttarakhand/Uttaranchal, India. Company’s Corporate Identification Number(CIN) is L15133UR1990PLC023970 and registration number is 023970. Currently Company is involved in the business activities of Other semi-processed, processed or instant foods except farinaceous products and malted foods and manufacturing activities like manufacture of egg powder, sambar powder etc.. Company’s Total Operating Revenue is Rs. 110.42 Cr. and Equity Capital is Rs. 12.45 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Food Processing - Bakery/Dairy/Fruits/Others	Lal Tappar Industrial Area, Dehradun District Uttarakhand/Uttaranchal 248140	secretarial@flexfoodsltd.com http://www.flexfoodsltd.com

Management
Name	Position Held
Mr. Ashok Chaturvedi	Chairman
Mr. Rahul Razdan	WholeTime Director & CEO
Mr. Rajeev Sharma	Director
Mrs. Indu Liberhan	Director
Mr. Arvind Mahajan	Director
Mr. Pradeep Narendra Poddar	Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹194.89, which is 162.30% higher than the current market price of ₹74.30. The stock has a market capitalization of 92.6 Cr. and recorded a high/low of 164/74.0 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹43 Cr and total liabilities of ₹392 Cr.

What is the Market Cap of ?

The Market Cap of is 92.6 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 74.3.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 164/74.0.

What is the Stock P/E of ?

The Stock P/E of is .

What is the Book Value of ?

The Book Value of is 44.2.

What is the Dividend Yield of ?

The Dividend Yield of is 0.67 %.

What is the ROCE of ?

The ROCE of is 5.33 %.

What is the ROE of ?

The ROE of is 29.2 %.

What is the Face Value of ?

The Face Value of is 10.0.