Fundamental Analysis of Huhtamaki India Ltd

About the Company - Huhtamaki India Ltd

Huhtamaki India Ltd. is a Public Limited Listed company incorporated on 19/08/1944 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L21011MH1950FLC145537 and registration number is 145537. Currently company belongs to the Industry of Packaging & Containers. Company’s Total Operating Revenue is Rs. 2625.28 Cr. and Equity Capital is Rs. 15.11 Cr. for the Year ended 31/12/2021.

INDUSTRY	ADDRESS	CONTACT
Packaging & Containers	A-802, Crescenzo, Mumbai Maharashtra 400051	investor.communication@huhtamaki.com http://www.flexibles.huhtamaki.in

Management
Name	Position Held
Mr. Murali Sivaraman	Chairman & Ind.Director
Mr. Dhananjay Salunkhe	Managing Director
Mr. Jagdish Agarwal	Executive Director & CFO
Mr. Marco Hilty	Non Executive Director
Mr. Stefan Lotz	Non Executive Director
Mr. Sami Pauni	Non Executive Director
Ms. Seema Modi	Independent Director
Mr. Ashok Kumar Barat	Independent Director

Huhtamaki India Ltd. Share Price Update
Share Price	Value
Today	₹300.45
Previous Day	₹303.40

Basic Stock Data of Huhtamaki India Ltd

Last Updated: May 15, 2024, 7:59 am

Market Cap	2,202 Cr.
Current Price	292
High / Low	371/227
Stock P/E	20.2
Book Value	152
Dividend Yield	1.71 %
ROCE	12.5 %
ROE	13.0 %
Face Value	2.00
PEG Ratio	-1.97

Data Source: screener.in

Huhtamaki India Ltd Quarterly Results

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	686	558	632	663	669	662	729	793	769	693	662	622	662
Expenses	608	522	590	640	638	651	678	758	746	644	610	582	617
Operating Profit	77	35	42	23	31	11	51	34	23	49	51	40	46
OPM %	11%	6%	7%	3%	5%	2%	7%	4%	3%	7%	8%	6%	7%
Other Income	3	3	6	2	-30	2	13	6	2	-3	6	0	3
Interest	6	7	6	6	7	8	7	8	9	9	7	10	8
Depreciation	25	24	23	24	23	23	22	22	21	21	16	12	11
Profit before tax	50	8	20	-5	-29	-18	34	11	-5	16	35	18	30
Tax %	26%	35%	19%	24%	24%	25%	28%	23%	101%	-5%	-1%	22%	-6%
Net Profit	37	5	16	-4	-22	-14	25	8	0	17	35	14	32
EPS in Rs	4.88	0.67	2.14	-0.46	-2.89	-1.79	3.26	1.08	0.01	2.23	4.70	1.91	4.27

Huhtamaki India Ltd Quarterly Chart

Huhtamaki India Ltd Profit & Loss

Month	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	TTM
Sales	803	890	1,006	1,135	1,151	2,181	2,131	2,369	2,599	2,463	2,625	2,983	2,638
Expenses	721	802	907	1,033	1,030	1,931	1,911	2,146	2,305	2,228	2,515	2,825	2,453
Operating Profit	82	88	100	102	121	251	220	223	294	235	110	158	186
OPM %	10%	10%	10%	9%	11%	11%	10%	9%	11%	10%	4%	5%	7%
Other Income	16	8	12	16	13	15	13	17	17	8	-22	17	6
Interest	1	1	1	1	26	39	33	41	23	27	28	33	33
Depreciation	32	35	34	36	39	93	85	85	87	98	92	86	59
Profit before tax	65	61	77	81	68	133	115	114	202	118	-32	56	100
Tax %	20%	27%	29%	21%	28%	39%	45%	69%	16%	18%	28%	11%
Net Profit	53	45	55	65	49	82	64	35	170	96	-23	50	99
EPS in Rs	8.39	7.18	8.70	8.89	6.75	11.21	8.42	4.62	22.52	12.71	-3.00	6.57	13.11
Dividend Payout %	29%	36%	32%	32%	41%	27%	36%	65%	13%	24%	-33%	30%

Huhtamaki India Ltd Profit & Loss Yearly Chart

Huhtamaki India Ltd Growth

Compounded Sales Growth
10 Years:	10%
5 Years:	1%
3 Years:	1%
TTM:	-14%

Compounded Profit Growth
10 Years:	10%
5 Years:	33%
3 Years:	10%
TTM:	80%

Stock Price CAGR
10 Years:	12%
5 Years:	6%
3 Years:	3%
1 Year:	36%

Return on Equity
10 Years:	11%
5 Years:	11%
3 Years:	7%
Last Year:	13%

Last Updated: April 25, 2024, 6:22 pm

Huhtamaki India Ltd Balance Sheet

Month	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Jun 2023
Equity Capital	13	13	13	15	15	15	15	15	15	15	15	15	15
Reserves	316	342	377	549	572	495	534	541	682	750	700	742	777
Borrowings	22	22	21	19	402	435	406	403	273	295	412	410	413
Other Liabilities	167	165	187	226	298	501	480	491	544	523	680	584	554
Total Liabilities	518	542	597	809	1,288	1,446	1,435	1,451	1,514	1,583	1,807	1,751	1,760
Fixed Assets	174	171	158	203	186	465	437	518	486	561	537	479	478
CWIP	8	4	11	6	3	2	2	4	8	16	43	35	112
Investments	63	99	94	225	755	195	138	21	61	18	1	0	0
Other Assets	273	267	335	375	343	784	858	908	959	987	1,227	1,237	1,170
Total Assets	518	542	597	809	1,288	1,446	1,435	1,451	1,514	1,583	1,807	1,751	1,760

Huhtamaki India Ltd Reserves and Borrowings Chart

Huhtamaki India Ltd Cash Flow

Month	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023
Cash from Operating Activity	64	33	79	136	166	96	101	285	169	-28	133	274
Cash from Investing Activity	-53	-11	-195	-482	-0	5	-29	-88	-73	-56	-90	40
Cash from Financing Activity	-18	-20	112	346	-150	-87	-68	-200	-74	49	-32	-211
Net Cash Flow	-7	1	-4	-1	16	13	3	-3	22	-35	11	102

Huhtamaki India Ltd Financial Efficiency Indicators

Month	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023
Debtor Days	57	67	70	69	77	90	88	87	79	88	81	79
Inventory Days	49	46	42	38	45	49	48	38	52	68	50	57
Days Payable	69	69	69	70	81	93	82	91	93	112	80	98
Cash Conversion Cycle	37	45	43	37	42	46	54	35	38	43	51	37
Working Capital Days	30	41	38	17	31	49	52	42	48	56	55	53
ROCE %	17%	18%	15%	12%	18%	16%	15%	22%	14%	2%	7%

Huhtamaki India Ltd Financial Efficiency Indicators Chart

Huhtamaki India Ltd Share Holding Pattern

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
Promoters	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%
FIIs	4.24%	4.28%	4.30%	4.23%	3.85%	1.30%	1.03%	1.12%	1.52%	1.43%	0.89%	1.21%
DIIs	1.28%	1.07%	0.90%	0.43%	0.44%	0.50%	0.50%	0.50%	1.53%	1.25%	1.32%	1.30%
Public	26.75%	26.92%	27.07%	27.60%	27.98%	30.46%	30.72%	30.64%	29.22%	29.58%	30.06%	29.76%
No. of Shareholders	33,069	33,184	34,556	33,927	34,378	33,000	31,362	30,256	27,614	26,830	26,544	31,026

Huhtamaki India Ltd Shareholding Pattern Chart

No. of Huhtamaki India Ltd Shareholders

Huhtamaki India Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)
LIC MF Small Cap Fund	87127	1.46	2.46

Huhtamaki India Ltd ROCE Trend

Huhtamaki India Ltd EPS Trend

Huhtamaki India Ltd Key Financial Ratios

Month	Dec 16	Dec 15	Dec 14	Dec 13	Dec 12
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	11.63	10.58	10.04	8.97	7.19
Diluted EPS (Rs.)	11.63	10.58	10.04	8.97	7.19
Cash EPS (Rs.)	24.71	23.28	15.45	15.92	12.88
Book Value[Excl.RevalReserv]/Share (Rs.)	96.89	87.98	80.69	65.11	59.57
Book Value[Incl.RevalReserv]/Share (Rs.)	96.89	88.36	81.07	65.55	59.57
Revenue From Operations / Share (Rs.)	299.56	280.18	168.51	173.15	143.65
PBDIT / Share (Rs.)	36.37	33.90	17.64	19.06	15.63
PBIT / Share (Rs.)	23.86	21.45	11.61	12.35	9.94
PBT / Share (Rs.)	19.28	15.90	11.19	12.88	9.85
Net Profit / Share (Rs.)	12.20	10.83	9.42	9.22	7.20
NP After MI And SOA / Share (Rs.)	11.63	10.58	9.16	8.97	7.19
PBDIT Margin (%)	12.14	12.10	10.47	11.00	10.87
PBIT Margin (%)	7.96	7.65	6.89	7.13	6.91
PBT Margin (%)	6.43	5.67	6.63	7.43	6.85
Net Profit Margin (%)	4.07	3.86	5.59	5.32	5.01
NP After MI And SOA Margin (%)	3.88	3.77	5.43	5.17	5.00
Return on Networth / Equity (%)	12.49	12.49	11.79	14.48	12.69
Return on Capital Employeed (%)	15.44	13.87	13.36	17.09	15.20
Return On Assets (%)	5.11	4.66	7.56	8.48	7.46
Long Term Debt / Equity (X)	0.60	0.70	0.06	0.10	0.09
Total Debt / Equity (X)	0.60	0.79	0.06	0.10	0.13
Asset Turnover Ratio (%)	1.48	1.06	1.54	1.68	0.00
Current Ratio (X)	1.74	1.62	2.31	1.90	1.76
Quick Ratio (X)	1.39	1.32	1.91	1.46	1.30
Inventory Turnover Ratio (X)	11.08	8.82	8.84	7.97	0.00
Dividend Payout Ratio (NP) (%)	0.00	26.46	30.56	31.22	36.15
Dividend Payout Ratio (CP) (%)	0.00	12.15	18.43	17.86	20.18
Earning Retention Ratio (%)	0.00	73.54	69.44	68.78	63.85
Cash Earning Retention Ratio (%)	0.00	87.85	81.57	82.14	79.82
Interest Coverage Ratio (X)	7.94	6.11	41.37	31.86	165.89
Interest Coverage Ratio (Post Tax) (X)	3.66	2.95	21.07	14.54	77.40
Enterprise Value (Cr.)	2164.14	2238.24	1362.09	512.51	505.66
EV / Net Operating Revenue (X)	0.99	1.10	1.11	0.47	0.56
EV / EBITDA (X)	8.18	9.08	10.62	4.29	5.16
MarketCap / Net Operating Revenue (X)	0.80	0.85	1.07	0.43	0.50
Retention Ratios (%)	0.00	73.53	69.43	68.77	63.84
Price / BV (X)	2.60	2.83	2.33	1.21	1.28
Price / Net Operating Revenue (X)	0.80	0.85	1.07	0.43	0.50
EarningsYield	0.04	0.04	0.05	0.12	0.09

Huhtamaki India Ltd Profitability Ratios (%)

Huhtamaki India Ltd Liquidity Ratios

Huhtamaki India Ltd Liquidity Ratios (%)

Huhtamaki India Ltd Interest Coverage Ratios (%)

Huhtamaki India Ltd Valuation Ratios

Fair Value

Fair Value: ₹405.98

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: 39.03% compared to the current price ₹292

Intrinsic Value: ₹364.34

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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 24.77% compared to the current price ₹292

Last 5 Year EPS CAGR: -10.26%

*Investments are subject to market risks

Strength and Weakness of Huhtamaki India Ltd Stock

Strength	Weakness
The company has higher reserves (618.25 cr) compared to borrowings (279.42 cr), indicating strong financial stability. The company has shown consistent growth in sales (131.69 cr) and profit (89.08 cr) over the years.	The stock has a low average ROCE of 13.00%, which may not be favorable. The stock has a high average Working Capital Days of 42.67, which may not be favorable. The stock has a high average Cash Conversion Cycle of 42.33, which may not be favorable.

FAQ

What is the latest fair value of Huhtamaki India Ltd?

The latest fair value of Huhtamaki India Ltd is ₹405.98.

What is the Market Cap of Huhtamaki India Ltd?

The Market Cap of Huhtamaki India Ltd is 2,202 Cr..

What is the current Stock Price of Huhtamaki India Ltd as on 19 May 2024?

The current stock price of Huhtamaki India Ltd as on 19 May 2024 is 292.

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

In FY 2024, the High / Low of Huhtamaki India Ltd stocks is ₹371/227.

What is the Stock P/E of Huhtamaki India Ltd?

The Stock P/E of Huhtamaki India Ltd is 20.2.

What is the Book Value of Huhtamaki India Ltd?

The Book Value of Huhtamaki India Ltd is 152.

What is the Dividend Yield of Huhtamaki India Ltd?

The Dividend Yield of Huhtamaki India Ltd is 1.71 %.

What is the ROCE of Huhtamaki India Ltd?

The ROCE of Huhtamaki India Ltd is 12.5 %.

What is the ROE of Huhtamaki India Ltd?

The ROE of Huhtamaki India Ltd is 13.0 %.

What is the Face Value of Huhtamaki India Ltd?

The Face Value of Huhtamaki India Ltd is 2.00.