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Last Updated on: 14 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 500467 | NSE: HARRMALAYA

Harrisons Malayalam Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 11, 2024, 12:13 pm

Market Cap 527 Cr.
Current Price 286
High / Low302/142
Stock P/E
Book Value 77.8
Dividend Yield0.00 %
ROCE5.39 %
ROE0.10 %
Face Value 10.0
PEG Ratio0.00

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

View Share Price Target for Harrisons Malayalam Ltd

Competitors of Harrisons Malayalam Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Eastern Treads Ltd 21.8 Cr. 41.751.4/31.0 22.80.00 %0.62 %% 10.0
Dolfin Rubbers Ltd 204 Cr. 204290/11438.6 31.10.00 %19.1 %17.9 % 10.0
Vikas Ecotech Ltd 585 Cr. 3.325.65/3.0037.1 3.100.00 %4.53 %2.07 % 1.00
Modi Rubber Ltd 290 Cr. 116157/79.115.5 2620.00 %3.72 %1.97 % 10.0
Harrisons Malayalam Ltd 527 Cr. 286302/142 77.80.00 %5.39 %0.10 % 10.0
Industry Average897.67 Cr617.5739.04116.690.24%8.91%8.07%7.57

All Competitor Stocks of Harrisons Malayalam Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales94.72129.06118.70129.04108.61128.17132.06117.9295.85121.73129.55140.9897.66
Expenses90.04122.32106.91120.88101.18120.24122.65115.4496.15120.70120.75140.07101.92
Operating Profit4.686.7411.798.167.437.939.412.48-0.301.038.800.91-4.26
OPM %4.94%5.22%9.93%6.32%6.84%6.19%7.13%2.10%-0.31%0.85%6.79%0.65%-4.36%
Other Income0.981.071.183.891.271.771.552.522.221.522.63-5.203.44
Interest2.892.962.642.692.963.003.153.123.023.413.363.353.24
Depreciation0.910.951.081.280.910.941.081.431.171.291.391.921.56
Profit before tax1.863.909.258.084.835.766.730.45-2.27-2.156.68-9.56-5.62
Tax %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit1.863.919.258.084.835.766.730.44-2.28-2.156.68-9.56-5.61
EPS in Rs1.012.115.004.372.613.113.640.24-1.23-1.163.61-5.17-3.03

Last Updated: September 24, 2024, 5:32 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 24, 2024, 5:32 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales346382325284365382352385449470485486490
Expenses323359342320352369364362394438457476483
Operating Profit2224-17-361313-1224553127106
OPM %6%6%-5%-13%4%3%-3%6%12%7%6%2%1%
Other Income234101096637712
Interest15151414141314161411121313
Depreciation7676544444466
Profit before tax35-35-4644-249402318-7-11
Tax %34%14%0%0%0%0%0%0%0%0%0%0%
Net Profit24-35-4644-249402318-7-11
EPS in Rs1.242.38-19.06-24.692.212.41-13.025.0121.8512.489.61-3.95-5.75
Dividend Payout %60%42%0%0%0%0%0%0%0%0%10%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)100.00%-975.00%-31.43%108.70%0.00%-700.00%137.50%344.44%-42.50%-21.74%-138.89%
Change in YoY Net Profit Growth (%)0.00%-1075.00%943.57%140.12%-108.70%-700.00%837.50%206.94%-386.94%20.76%-117.15%

Harrisons Malayalam 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:2%
5 Years:7%
3 Years:3%
TTM:3%
Compounded Profit Growth
10 Years:-28%
5 Years:15%
3 Years:-85%
TTM:-129%
Stock Price CAGR
10 Years:16%
5 Years:41%
3 Years:17%
1 Year:86%
Return on Equity
10 Years:-1%
5 Years:15%
3 Years:9%
Last Year:0%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital181818181818181818181818
Reserves3013032682238485606097120138125
Borrowings113110113112959612111499899598
Other Liabilities98110114148163181173211192193194221
Total Liabilities530541513501361381373403407420445463
Fixed Assets428429428424277277280285285286291298
CWIP5221811101322365872
Investments000000000000
Other Assets971098376769383106100989793
Total Assets530541513501361381373403407420445463

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +202610132120-73341383133
Cash from Investing Activity +-12-5-444-7-6-9-11-14-27-22
Cash from Financing Activity +-6-20-14-15-31-1211-23-32-21-6-11
Net Cash Flow21-82-61-11-12-20

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-91.00-86.00-130.00-148.00-82.00-83.00-133.00-90.00-44.00-58.00-68.00-88.00

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 Days9141498141081311914
Inventory Days85908810378899415794809789
Days Payable686273130101121108186117118118160
Cash Conversion Cycle264229-18-15-18-4-22-10-27-12-57
Working Capital Days-205-21-70-58-55-79-72-44-46-45-64
ROCE %4%5%-5%-9%5%8%-5%13%27%14%12%5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters54.12%54.12%54.12%54.12%54.12%54.12%54.12%54.12%54.12%54.12%54.12%54.12%
FIIs0.20%0.47%0.41%0.14%0.29%0.11%0.11%0.11%0.09%0.10%0.11%0.01%
DIIs0.05%0.05%0.05%0.04%0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%
Public45.63%45.36%45.42%45.70%45.55%45.72%45.73%45.73%45.75%45.72%45.72%45.83%
No. of Shareholders28,17727,57930,32931,35830,37929,29328,77728,56427,59227,52825,92025,286

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.)-3.969.6312.5121.905.02
Diluted EPS (Rs.)-3.969.6312.5121.905.02
Cash EPS (Rs.)-0.8311.9914.8024.137.35
Book Value[Excl.RevalReserv]/Share (Rs.)77.9784.6274.7762.3242.75
Book Value[Incl.RevalReserv]/Share (Rs.)77.9784.6274.7762.3242.75
Revenue From Operations / Share (Rs.)264.50263.77255.51244.45209.87
PBDIT / Share (Rs.)10.4018.6220.8631.5015.97
PBIT / Share (Rs.)7.2716.2618.5729.2713.64
PBT / Share (Rs.)-3.969.6312.5121.905.02
Net Profit / Share (Rs.)-3.969.6312.5121.905.02
NP After MI And SOA / Share (Rs.)-3.969.6312.5121.905.02
PBDIT Margin (%)3.937.058.1612.887.60
PBIT Margin (%)2.746.167.2611.976.49
PBT Margin (%)-1.493.644.898.962.39
Net Profit Margin (%)-1.493.644.898.962.39
NP After MI And SOA Margin (%)-1.493.644.898.962.39
Return on Networth / Equity (%)-5.0711.3716.7335.1511.74
Return on Capital Employeed (%)5.7111.6914.8025.4813.41
Return On Assets (%)-1.573.995.509.932.29
Long Term Debt / Equity (X)0.270.290.330.380.73
Total Debt / Equity (X)0.650.590.620.691.33
Asset Turnover Ratio (%)1.081.131.141.110.99
Current Ratio (X)0.380.440.490.460.44
Quick Ratio (X)0.220.240.300.290.26
Inventory Turnover Ratio (X)2.792.993.372.782.37
Interest Coverage Ratio (X)1.462.813.444.281.85
Interest Coverage Ratio (Post Tax) (X)1.022.453.073.971.58
Enterprise Value (Cr.)396.83288.68325.51334.29199.31
EV / Net Operating Revenue (X)0.810.590.690.740.51
EV / EBITDA (X)20.688.408.465.756.76
MarketCap / Net Operating Revenue (X)0.620.400.510.560.25
Price / BV (X)2.121.271.772.231.24
Price / Net Operating Revenue (X)0.620.400.510.560.25
EarningsYield-0.020.080.090.150.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Harrisons Malayalam Ltd as of November 14, 2024 is: 1.19

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 14, 2024, Harrisons Malayalam Ltd is Overvalued by 99.58% compared to the current share price 286.00

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

Intrinsic Value of Harrisons Malayalam Ltd as of November 14, 2024 is: 0.61

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 14, 2024, Harrisons Malayalam Ltd is Overvalued by 99.79% compared to the current share price 286.00

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

Last 5 Year EPS CAGR: -48.86%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -47.42, which is a positive sign.
  2. The stock has a low average Cash Conversion Cycle of -7.17, which is a positive sign.
  3. The company has higher reserves (155.33 cr) compared to borrowings (104.58 cr), indicating strong financial stability.
  1. The stock has a low average ROCE of 6.17%, which may not be favorable.
  2. The company has not shown consistent growth in sales (400.08) and profit (-1.31).

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 Harrisons Malayalam Ltd:
    1. Net Profit Margin: -1.49%
      • 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: 5.71% (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%: -5.07% (Industry Average ROE: 8.07%)
      • 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): 1.02
      • 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: 0.22
      • 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: 39.04)
      • 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: 0.65
      • 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

Harrisons Malayalam Ltd. is a Public Limited Listed company incorporated on 05/01/1978 and has its registered office in the State of Kerala, India. Company’s Corporate Identification Number(CIN) is L01119KL1978PLC002947 and registration number is 002947. Currently Company is involved in the business activities of Growing of potatoes and other tubers such as sweet potatoes, cassava, yams. Company’s Total Operating Revenue is Rs. 471.53 Cr. and Equity Capital is Rs. 18.45 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Rubber Processing/Rubber Products24/1624, Bristow Road, Cochin Kerala 682003hmlcorp@harrisonsmalayalam.com
http://www.harrisonsmalayalam.com
Management
NamePosition Held
Mr. Santosh KumarWhole Time Director
Mr. Cherian M GeorgeWhole Time Director
Mr. Kaushik RoyDirector
Mr. C VinayaraghavanDirector
Mr. Noshir Naval FramjeeDirector
Mr. P RajagopalanDirector
Mr. Rajat BhargavaDirector
Ms. Rusha MitraDirector

FAQ

What is the latest intrinsic value of Harrisons Malayalam Ltd?

The latest intrinsic value of Harrisons Malayalam Ltd as on 14 November 2024 is ₹1.19, which is 99.58% lower than the current market price of ₹286.00.

What is the Market Cap of Harrisons Malayalam Ltd?

The Market Cap of Harrisons Malayalam Ltd is 527 Cr..

What is the current Stock Price of Harrisons Malayalam Ltd as on 14 November 2024?

The current stock price of Harrisons Malayalam Ltd as on 14 November 2024 is ₹286.

What is the High / Low of Harrisons Malayalam Ltd stocks in FY 2024?

In FY 2024, the High / Low of Harrisons Malayalam Ltd stocks is 302/142.

What is the Stock P/E of Harrisons Malayalam Ltd?

The Stock P/E of Harrisons Malayalam Ltd is .

What is the Book Value of Harrisons Malayalam Ltd?

The Book Value of Harrisons Malayalam Ltd is 77.8.

What is the Dividend Yield of Harrisons Malayalam Ltd?

The Dividend Yield of Harrisons Malayalam Ltd is 0.00 %.

What is the ROCE of Harrisons Malayalam Ltd?

The ROCE of Harrisons Malayalam Ltd is 5.39 %.

What is the ROE of Harrisons Malayalam Ltd?

The ROE of Harrisons Malayalam Ltd is 0.10 %.

What is the Face Value of Harrisons Malayalam Ltd?

The Face Value of Harrisons Malayalam 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 Harrisons Malayalam 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