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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Parin Furniture Ltd

About the Company - Parin Furniture Ltd

Parin Furniture Ltd. is a Public Limited Listed company incorporated on 12/09/2006 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L36101GJ2006PLC049074 and registration number is 049074. Currently Company is involved in the business activities of Wholesale of furniture and fixtures. Company’s Total Operating Revenue is Rs. 75.40 Cr. and Equity Capital is Rs. 11.12 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Plastics - Plastic & Plastic ProductsPlot No. 6, Revenue Survey No. 149, National Highway, Rajkot Gujarat 360004info@parinfurniture.com
http://www.parinfurniture.com
Management
NamePosition Held
Mr. Umesh Dhirajlal NandaniChairman & Managing Director
Mr. Parin Umeshbhai NandaniWhole Time Director
Mr. Deven Dipesh NandaniNon Executive Director
Ms. Shweta Chirag KathraniInd. Non-Executive Director
Mr. Dayalal Harjivanbhai KeshariaInd. Non-Executive Director
Mr. Pranav Vinodkumar ManekInd. Non-Executive Director

Parin Furniture Ltd. Share Price Update

Share PriceValue
Today₹136.50
Previous Day₹135.50

Basic Stock Data of Parin Furniture Ltd

Market Cap 145 Cr.
Current Price 130
High / Low140/64.6
Stock P/E37.4
Book Value 44.6
Dividend Yield0.00 %
ROCE8.26 %
ROE5.67 %
Face Value 10.0

Data Source: screener.in

Competitors of Parin Furniture Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Nilkamal Ltd 2,969 Cr. 1,9902,805/1,67222.0 9001.00 %13.3 %10.5 % 10.0
Responsive Industries Ltd 8,057 Cr. 302365/10559.1 40.20.03 %4.51 %2.46 % 1.00
Omfurn India Ltd 74.6 Cr. 91.298.7/31.016.7 34.90.00 %18.6 %16.7 % 10.0
Mayur Uniquoters Ltd 2,303 Cr. 524618/41520.0 1840.38 %17.8 %14.4 % 5.00
Pil Italica Lifestyle Ltd 350 Cr. 14.917.6/5.9574.4 3.060.00 %6.28 %4.47 % 1.00
Industry Average87.32 Cr186.6238.44232.430.28%12.1%9.71%5.4

Parin Furniture Ltd Quarterly Results

MonthMar 2019Sep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023
Sales45264041422253235845
Expenses41243738372147215341
Operating Profit4233516254
OPM %8%7%8%8%11%6%11%10%9%9%
Other Income000011-0000
Interest1111211122
Depreciation0000111111
Profit before tax3122304032
Tax %34%28%24%14%52%24%27%42%28%21%
Net Profit2122103021
EPS in Rs1.600.641.481.371.240.222.370.222.171.31

Parin Furniture Ltd Quarterly Chart

Parin Furniture Ltd Profit & Loss

MonthMar 2010Mar 2011Mar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales81316286158647166837681103
Expenses8131527575457646175687394
Operating Profit0001547658879
OPM %2%2%3%3%8%7%11%9%8%10%10%9%9%
Other Income0000020001000
Interest0000333223333
Depreciation0000111011211
Profit before tax0001224435445
Tax %44%26%64%33%38%34%29%32%25%38%23%29%
Net Profit0000113323334
EPS in Rs3.677.675.6716.0034.0045.333.122.432.122.622.602.383.48
Dividend Payout %0%0%0%0%0%6%0%0%0%0%0%0%

Parin Furniture Ltd Profit & Loss Yearly Chart

Parin Furniture Ltd Growth

Compounded Sales Growth
10 Years:11%
5 Years:5%
3 Years:7%
TTM:37%
Compounded Profit Growth
10 Years:19%
5 Years:0%
3 Years:4%
TTM:34%
Stock Price CAGR
10 Years:%
5 Years:15%
3 Years:32%
1 Year:24%
Return on Equity
10 Years:%
5 Years:7%
3 Years:6%
Last Year:6%

Parin Furniture Ltd Balance Sheet

MonthMar 2010Mar 2011Mar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital0000008111111111111
Reserves1222458262831343738
Borrowings3348262924132127293533
Other Liabilities211398721013184023
Total Liabilities6671340434653718292123106
Fixed Assets1111222126655
CWIP0000000000000
Investments0000004444444
Other Assets566123841404865728311497
Total Assets6671340434653718292123106

Parin Furniture Ltd Reserves and Borrowings Chart

Parin Furniture Ltd Cash Flow

MonthMar 2010Mar 2011Mar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 0000-9065-53-11
Cash from Investing Activity 0000-1-1-00-1-6-1-0
Cash from Financing Activity 0000111-5-46203
Net Cash Flow000010011-0-13

Parin Furniture Ltd Financial Efficiency Indicators

MonthMar 2010Mar 2011Mar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days563952601031119867166143216261
Inventory Days154187144161197183230309
Days Payable54533865762101250
Cash Conversion Cycle56395260204245204223307263345320
Working Capital Days164116109102158194170196266223292302
ROCE %6%8%9%15%17%14%9%11%9%8%

Parin Furniture Ltd Financial Efficiency Indicators Chart

Parin Furniture Ltd Share Holding Pattern

MonthOct 2018Mar 2019Sep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023
Promoters73.01%73.01%73.01%73.01%73.01%73.01%73.01%73.01%73.02%73.02%73.02%
DIIs2.55%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public24.43%26.98%26.98%26.99%26.99%26.99%26.98%26.98%26.98%26.98%26.98%
No. of Shareholders600145131126127114114115133133211

Parin Furniture Ltd Shareholding Pattern Chart

No. of Parin Furniture Ltd Shareholders

This stock is not held by any mutual fund

Parin Furniture Ltd ROCE Trend

Parin Furniture Ltd EPS Trend

Parin Furniture Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)2.773.714.163.434.27
Diluted EPS (Rs.)2.773.714.163.434.27
Cash EPS (Rs.)4.165.525.584.294.42
Book Value[Excl.RevalReserv]/Share (Rs.)50.1247.3543.6239.4435.99
Book Value[Incl.RevalReserv]/Share (Rs.)50.1247.3543.6239.4435.99
Revenue From Operations / Share (Rs.)73.0368.5575.4760.3164.09
PBDIT / Share (Rs.)8.7310.3311.238.358.63
PBIT / Share (Rs.)7.348.539.837.517.91
PBT / Share (Rs.)4.105.276.404.875.51
Net Profit / Share (Rs.)2.773.724.183.453.69
NP After MI And SOA / Share (Rs.)2.773.714.163.433.67
PBDIT Margin (%)11.9515.0614.8713.8513.47
PBIT Margin (%)10.0512.4413.0212.4512.33
PBT Margin (%)5.617.698.478.068.59
Net Profit Margin (%)3.795.435.545.715.75
NP After MI And SOA Margin (%)3.785.405.515.685.72
Return on Networth / Equity (%)5.537.859.568.7110.22
Return on Capital Employeed (%)12.5414.0317.4115.0519.95
Return On Assets (%)2.133.614.443.836.30
Long Term Debt / Equity (X)0.150.260.270.240.08
Total Debt / Equity (X)0.820.690.750.680.45
Asset Turnover Ratio (%)0.680.760.910.971.28
Current Ratio (X)1.672.172.091.992.67
Quick Ratio (X)0.851.110.950.870.90
Inventory Turnover Ratio (X)0.550.490.120.000.00
Interest Coverage Ratio (X)2.693.173.273.163.61
Interest Coverage Ratio (Post Tax) (X)1.852.142.222.302.54
Enterprise Value (Cr.)151.38134.2290.2285.3391.70
EV / Net Operating Revenue (X)1.861.761.081.271.29
EV / EBITDA (X)15.6011.697.239.199.55
MarketCap / Net Operating Revenue (X)1.361.310.670.871.07
Price / BV (X)1.991.911.181.351.91
Price / Net Operating Revenue (X)1.361.310.670.871.07
EarningsYield0.020.040.080.060.05

Parin Furniture Ltd Profitability Ratios (%)

Parin Furniture Ltd Liquidity Ratios

Parin Furniture Ltd Liquidity Ratios (%)

Parin Furniture Ltd Interest Coverage Ratios (%)

Parin Furniture Ltd Valuation Ratios

Fair Value / Intrinsic Value of Parin Furniture Ltd

Fair Value: ₹96.47

The stock is overvalued by 25.79% compared to the current price ₹130

*Investments are subject to market risks

Strength and Weakness of Parin Furniture Ltd

StrengthWeakness
  1. The company has shown consistent growth in sales (56.00 cr) and profit (2.62 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 8.22 and average Dividend Yield of 12.06%.
  2. The stock has a low average ROCE of 8.83%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 191.00, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 193.17, which may not be favorable.
  5. The company has higher borrowings (19.62) compared to reserves (16.77), which may suggest financial risk.

Should I Buy Parin Furniture Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Parin Furniture Ltd:
    1. Net Profit Margin: 3.79%
      • 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: 12.54% (Industry Average ROCE: 16.52%)
      • 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. Interest Coverage Ratio (Post Tax): 1.85
      • 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.
    4. Quick Ratio: 0.85
      • 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.
    5. ✗ Stock P/E: 37.4 (Industry average Stock P/E: 20.14)
      • 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.
    6. ✓ Total Debt / Equity: 0.82
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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 Parin Furniture 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