Piccadily Agro Industries Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:11 am

Market Cap	8,415 Cr.
Current Price	892
High / Low	994/257
Stock P/E	82.3
Book Value	63.9
Dividend Yield	0.00 %
ROCE	29.6 %
ROE	30.6 %
Face Value	10.0
PEG Ratio	1.86

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

Stock P/E Current Price Intrinsic Value

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Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Gayatri Sugars Ltd	98.0 Cr.	15.0	27.9/14.5		20.0	0.00 %	93.2 %	%	10.0
Dhampure Speciality Sugars Ltd	99.4 Cr.	125	142/75.7	67.6	35.6	0.00 %	3.15 %	3.78 %	10.0
Dhampur Bio Organics Ltd	793 Cr.	119	164/112	75.4	146	2.09 %	5.02 %	3.67 %	10.0
DCM Shriram Industries Ltd	1,658 Cr.	191	242/150	13.6	100	1.05 %	16.1 %	14.9 %	2.00
Davangere Sugar Company Ltd	525 Cr.	5.58	11.5/5.01	42.4	3.64	0.00 %	6.86 %	3.75 %	1.00
Industry Average	2,316.78 Cr	312.16		30.81	224.52	0.65%	13.00%	13.21%	6.37

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	206	91	110	166	184	110	115	200	219	114	178	269	196
Expenses	182	72	102	148	167	99	97	185	194	90	143	202	168
Operating Profit	24	19	8	18	18	12	18	15	25	24	34	67	28
OPM %	11%	21%	7%	11%	10%	11%	15%	7%	11%	21%	19%	25%	14%
Other Income	0	0	0	0	0	0	0	0	0	0	29	1	1
Interest	3	4	3	3	3	3	4	3	4	5	3	4	4
Depreciation	3	4	4	4	4	4	4	4	6	4	4	4	5
Profit before tax	17	11	1	12	10	5	10	9	15	15	57	59	20
Tax %	26%	22%	21%	41%	28%	17%	27%	42%	26%	26%	21%	27%	29%
Net Profit	12	9	2	6	8	3	7	5	11	11	44	43	13
EPS in Rs	1.32	0.93	0.17	0.68	0.80	0.36	0.70	0.50	1.16	1.18	4.70	4.59	1.39

Last Updated: October 7, 2024, 8:19 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 2:43 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	TTM
Sales	327	376	344	271	329	334	371	399	488	572	598	742	756
Expenses	283	330	316	248	282	308	344	359	437	503	537	592	603
Operating Profit	44	46	28	23	47	26	27	40	52	69	62	150	153
OPM %	13%	12%	8%	9%	14%	8%	7%	10%	11%	12%	10%	20%	20%
Other Income	5	5	6	7	1	5	9	-1	3	1	1	30	31
Interest	10	8	9	15	17	16	17	15	16	14	13	16	16
Depreciation	8	10	11	11	13	13	13	13	13	15	16	18	17
Profit before tax	30	33	15	5	18	2	7	11	25	41	33	146	151
Tax %	31%	36%	39%	68%	57%	-148%	21%	-21%	29%	29%	30%	25%
Net Profit	21	21	9	2	8	5	2	19	18	29	22	110	112
EPS in Rs	2.21	2.25	0.94	0.16	0.84	0.48	0.23	2.03	1.90	3.10	2.37	11.63	11.86
Dividend Payout %	11%	0%	0%	0%	0%	0%	0%	10%	26%	3%	0%	0%

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 (%)	0.00%	-57.14%	-77.78%	300.00%	-37.50%	-60.00%	850.00%	-5.26%	61.11%	-24.14%	400.00%
Change in YoY Net Profit Growth (%)	0.00%	-57.14%	-20.63%	377.78%	-337.50%	-22.50%	910.00%	-855.26%	66.37%	-85.25%	424.14%

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:	7%
5 Years:	15%
3 Years:	15%
TTM:	28%

Compounded Profit Growth
10 Years:	15%
5 Years:	110%
3 Years:	70%
TTM:	206%

Stock Price CAGR
10 Years:	58%
5 Years:	161%
3 Years:	226%
1 Year:	222%

Return on Equity
10 Years:	12%
5 Years:	17%
3 Years:	20%
Last Year:	31%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 5:31 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	24	24	24	47	95	95	95	95	95	95	95	94	94
Reserves	81	102	110	86	59	64	55	75	91	112	137	245	509
Borrowings	104	90	85	156	128	144	131	126	125	135	154	172	209
Other Liabilities	85	99	130	102	141	156	189	166	198	187	207	228	178
Total Liabilities	293	315	349	391	423	458	470	461	509	529	593	739	990
Fixed Assets	134	136	149	162	156	152	148	141	135	144	195	218	254
CWIP	7	2	4	30	47	50	46	46	46	52	32	42	100
Investments	16	58	52	53	64	64	65	69	62	59	61	61	60
Other Assets	136	119	145	146	155	191	211	205	265	273	305	419	576
Total Assets	293	315	349	391	423	458	470	461	509	529	593	739	990

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 +	40	47	42	-6	98	41	58	-0	22	45	37	51
Cash from Investing Activity +	-30	-33	-22	-50	-46	-10	1	-8	0	-35	-52	-30
Cash from Financing Activity +	-8	-14	-22	54	-52	-30	-44	-4	-9	-22	12	-10
Net Cash Flow	2	1	-2	-2	0	1	15	-12	14	-12	-3	11

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	-60.00	-44.00	-57.00	-133.00	-81.00	-118.00	-104.00	-86.00	-73.00	-66.00	-92.00	-22.00

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	0	0	3	15	15	24	41	30	38	32	42	67
Inventory Days	210	159	189	222	233	215	182	201	215	185	201	200
Days Payable	93	89	160	134	152	175	214	172	174	123	140	113
Cash Conversion Cycle	118	70	33	103	96	63	9	58	79	94	103	154
Working Capital Days	51	26	23	57	8	22	-6	26	44	65	64	93
ROCE %	20%	20%	11%	8%	13%	6%	8%	10%	13%	17%	13%	30%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	70.90%	70.90%	70.96%	70.97%	70.97%	70.97%	70.97%	70.97%	70.97%	70.97%	70.97%	70.97%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.10%	0.10%
Public	29.10%	29.10%	29.04%	29.03%	29.02%	29.02%	29.02%	29.02%	29.03%	29.00%	28.92%	28.76%
No. of Shareholders	15,047	17,708	21,710	29,285	30,577	29,043	27,838	27,435	30,841	52,070	51,172	71,833

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.)	11.63	2.37	3.10	1.90	2.19
Diluted EPS (Rs.)	11.63	2.37	3.10	1.90	2.03
Cash EPS (Rs.)	13.63	4.11	4.62	3.29	2.82
Book Value[Excl.RevalReserv]/Share (Rs.)	36.01	24.46	21.83	19.58	17.88
Book Value[Incl.RevalReserv]/Share (Rs.)	36.01	24.46	21.83	19.58	17.88
Revenue From Operations / Share (Rs.)	82.62	64.32	60.59	51.69	42.19
PBDIT / Share (Rs.)	16.00	6.57	7.39	5.71	4.30
PBIT / Share (Rs.)	14.07	4.92	5.86	4.28	2.91
PBT / Share (Rs.)	15.52	3.51	4.37	2.61	1.19
Net Profit / Share (Rs.)	11.70	2.46	3.09	1.86	1.43
NP After MI And SOA / Share (Rs.)	11.63	2.36	3.09	1.90	2.02
PBDIT Margin (%)	19.36	10.20	12.20	11.04	10.19
PBIT Margin (%)	17.02	7.64	9.66	8.28	6.90
PBT Margin (%)	18.77	5.46	7.20	5.04	2.81
Net Profit Margin (%)	14.16	3.82	5.09	3.60	3.39
NP After MI And SOA Margin (%)	14.08	3.66	5.09	3.66	4.78
Return on Networth / Equity (%)	32.31	9.64	14.15	9.68	11.29
Return on Capital Employeed (%)	30.61	15.18	21.52	17.63	13.44
Return On Assets (%)	14.85	3.76	5.52	3.59	4.14
Long Term Debt / Equity (X)	0.17	0.22	0.12	0.15	0.11
Total Debt / Equity (X)	0.50	0.66	0.65	0.51	0.64
Asset Turnover Ratio (%)	1.17	1.09	1.12	1.02	0.86
Current Ratio (X)	1.31	1.03	1.00	0.93	0.77
Quick Ratio (X)	0.66	0.36	0.36	0.27	0.20
Inventory Turnover Ratio (X)	1.88	1.96	1.92	2.03	2.10
Dividend Payout Ratio (NP) (%)	1.71	4.22	0.00	0.00	0.00
Dividend Payout Ratio (CP) (%)	1.47	2.48	0.00	0.00	0.00
Earning Retention Ratio (%)	98.29	95.78	0.00	0.00	0.00
Cash Earning Retention Ratio (%)	98.53	97.52	0.00	0.00	0.00
Interest Coverage Ratio (X)	9.60	4.67	4.96	3.41	2.74
Interest Coverage Ratio (Post Tax) (X)	6.15	2.75	3.07	2.11	2.01
Enterprise Value (Cr.)	3001.84	577.10	421.05	190.24	158.23
EV / Net Operating Revenue (X)	3.85	0.94	0.73	0.38	0.39
EV / EBITDA (X)	19.89	9.29	6.02	3.52	3.89
MarketCap / Net Operating Revenue (X)	3.65	0.70	0.51	0.21	0.13
Retention Ratios (%)	98.28	95.77	0.00	0.00	0.00
Price / BV (X)	8.39	1.85	1.42	0.55	0.31
Price / Net Operating Revenue (X)	3.65	0.70	0.51	0.21	0.13
EarningsYield	0.03	0.05	0.09	0.17	0.35

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 1,641.43

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 84.02% compared to the current share price 892.00

Intrinsic Value of as of December 21, 2024 is: 2,367.49

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 165.41% compared to the current share price 892.00

Last 5 Year EPS CAGR: 44.23%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has shown consistent growth in sales (454.38 cr) and profit (39.77 cr) over the years.	The stock has a low average ROCE of 14.08%, which may not be favorable. The stock has a high average Working Capital Days of 39.42, which may not be favorable. The stock has a high average Cash Conversion Cycle of 81.67, which may not be favorable. The company has higher borrowings (135.31) compared to reserves (132.77), 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: 14.16%
  - 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: 30.61% (Industry Average ROCE: 13%)
  - 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%: 32.31% (Industry Average ROE: 11.89%)
  - 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): 6.15
  - 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: 0.66
  - 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: 82.3 (Industry average Stock P/E: 23.62)
  - 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: 0.5
  - 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

Piccadily Agro Industries Ltd. is a Public Limited Listed company incorporated on 25/03/1994 and has its registered office in the State of Haryana, India. Company’s Corporate Identification Number(CIN) is L01115HR1994PLC032244 and registration number is 032244. Currently Company is involved in the business activities of Manufacture or refining of sugar (sucrose) from sugercane. Company’s Total Operating Revenue is Rs. 573.52 Cr. and Equity Capital is Rs. 94.66 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Sugar	Village Bhadson, Karnal Dist. Haryana 132109	piccadilygroup34@rediffmail.com http://www.picagro.com

Management
Name	Position Held
Mr. Akhil Dada	Chairman
Mr. Harvinder Singh Chopra	Managing Director
Mr. Dharmendra Kumar Batra	Whole Time Director
Mr. Rajeev Kumar Sanger	Independent Director
Mr. Rajan Talwar	Independent Director
Mr. Jai Parkash Kaushik	Director
Ms. Heena Gera	Woman Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹1641.43, which is 84.02% higher than the current market price of ₹892.00. The stock has a market capitalization of 8,415 Cr. and recorded a high/low of 994/257 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹509 Cr and total liabilities of ₹990 Cr.

What is the Market Cap of ?

The Market Cap of is 8,415 Cr..

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

The current stock price of as on 21 December 2024 is 892.

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

In FY 2024-2025, the High / Low of stocks is 994/257.

What is the Stock P/E of ?

The Stock P/E of is 82.3.

What is the Book Value of ?

The Book Value of is 63.9.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 29.6 %.

What is the ROE of ?

The ROE of is 30.6 %.

What is the Face Value of ?

The Face Value of is 10.0.