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Last Updated on: 22 May, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 530305 | NSE: PICCADIL

Fundamental Analysis of Piccadily Agro Industries Ltd

Basic Stock Data

Last Updated: May 22, 2024, 7:04 pm

Market Cap 7,853 Cr.
Current Price 832
High / Low903/45.8
Stock P/E89.6
Book Value 36.0
Dividend Yield0.02 %
ROCE29.6 %
ROE30.7 %
Face Value 10.0
PEG Ratio2.14

Data Source: screener.in

Competitors of Piccadily Agro Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Triveni Engineering & Industries Ltd 7,682 Cr. 351417/26119.4 1330.93 %14.8 %14.2 % 1.00
Sakthi Sugars Ltd 405 Cr. 34.146.8/21.2 4.560.00 %10.8 %% 10.0
Ugar Sugar Works Ltd 848 Cr. 75.4136/64.012.3 15.20.66 %27.3 %60.6 % 1.00
Simbhaoli Sugars Ltd 115 Cr. 27.838.5/21.0 41.10.00 %0.48 %% 10.0
Avadh Sugar & Energy Ltd 1,181 Cr. 590855/4527.76 4861.71 %10.4 %11.3 % 10.0
Industry Average2,046.20 Cr215.667.89135.970.66%12.76%17.22%6.40

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales15320691110166184110115200219114178269
Expenses14718272102148167999718519490143202
Operating Profit624198181812181525243467
OPM %4%11%21%7%11%10%11%15%7%11%21%19%25%
Other Income20000000000291
Interest3343333434534
Depreciation3344444446444
Profit before tax2171111210510915155759
Tax %32%26%22%21%41%28%17%27%42%26%26%21%27%
Net Profit212926837511114443
EPS in Rs0.261.320.930.170.680.800.360.700.501.161.184.704.59

Last Updated: May 10, 2024, 3:59 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 4, 2024, 3:52 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales327376344271329334371399488572598779
Expenses283330316248282308344359437503537629
Operating Profit4446282347262740526962150
OPM %13%12%8%9%14%8%7%10%11%12%10%19%
Other Income5567159-131130
Interest1089151716171516141316
Depreciation81011111313131313151618
Profit before tax3033155182711254133146
Tax %31%36%39%68%57%-148%21%-21%29%29%30%25%
Net Profit21219285219182922110
EPS in Rs2.212.250.940.160.840.480.232.031.903.102.3711.63
Dividend Payout %11%0%0%0%0%0%0%10%26%3%4%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 (%)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%

Growth

Compounded Sales Growth
10 Years:8%
5 Years:16%
3 Years:17%
TTM:30%
Compounded Profit Growth
10 Years:15%
5 Years:110%
3 Years:70%
TTM:292%
Stock Price CAGR
10 Years:56%
5 Years:143%
3 Years:277%
1 Year:1663%
Return on Equity
10 Years:12%
5 Years:17%
3 Years:20%
Last Year:31%

Last Updated: May 18, 2024, 7:42 am

Balance Sheet

Last Updated: May 4, 2024, 3:55 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital242424479595959595959594
Reserves81102110865964557591112137245
Borrowings1049085156128144131126125135154172
Other Liabilities8599130102141156189166198187207228
Total Liabilities293315349391423458470461509529593739
Fixed Assets134136149162156152148141135144195218
CWIP724304750464646523242
Investments165852536464656962596161
Other Assets136119145146155191211205265273305419
Total Assets293315349391423458470461509529593739

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 404742-6984158-022453751
Cash from Investing Activity -30-33-22-50-46-101-80-35-52-30
Cash from Financing Activity -8-14-2254-52-30-44-4-9-2212-10
Net Cash Flow21-2-20115-1214-12-311

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 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

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days003151524413038324264
Inventory Days210159189222233215182201215185201200
Days Payable9389160134152175214172174123140113
Cash Conversion Cycle118703310396639587994103151
Working Capital Days51262357822-62644656488
ROCE %20%20%11%8%13%6%8%10%13%17%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters70.90%70.90%70.90%70.96%70.97%70.97%70.97%70.97%70.97%70.97%70.97%70.97%
DIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.04%0.10%
Public29.10%29.10%29.10%29.04%29.03%29.02%29.02%29.02%29.02%29.03%29.00%28.92%
No. of Shareholders13,95915,04717,70821,71029,28530,57729,04327,83827,43530,84152,07051,172

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.)11.632.373.101.902.19
Diluted EPS (Rs.)11.632.373.101.902.03
Cash EPS (Rs.)13.634.114.623.292.82
Book Value[Excl.RevalReserv]/Share (Rs.)36.0124.4621.8319.5817.88
Book Value[Incl.RevalReserv]/Share (Rs.)36.0124.4621.8319.5817.88
Revenue From Operations / Share (Rs.)87.7864.3260.5951.6942.19
PBDIT / Share (Rs.)16.006.577.395.714.30
PBIT / Share (Rs.)14.074.925.864.282.91
PBT / Share (Rs.)15.523.514.372.611.19
Net Profit / Share (Rs.)11.702.463.091.861.43
NP After MI And SOA / Share (Rs.)11.632.363.091.902.02
PBDIT Margin (%)18.2210.2012.2011.0410.19
PBIT Margin (%)16.027.649.668.286.90
PBT Margin (%)17.675.467.205.042.81
Net Profit Margin (%)13.323.825.093.603.39
NP After MI And SOA Margin (%)13.253.665.093.664.78
Return on Networth / Equity (%)32.319.6414.159.6811.29
Return on Capital Employeed (%)31.0615.1821.5217.6313.44
Return On Assets (%)14.853.765.523.594.14
Long Term Debt / Equity (X)0.170.220.120.150.11
Total Debt / Equity (X)0.500.660.650.510.64
Asset Turnover Ratio (%)1.241.091.121.020.86
Current Ratio (X)1.281.031.000.930.77
Quick Ratio (X)0.650.360.360.270.20
Inventory Turnover Ratio (X)1.881.961.922.032.10
Dividend Payout Ratio (NP) (%)0.004.220.000.000.00
Dividend Payout Ratio (CP) (%)0.002.480.000.000.00
Earning Retention Ratio (%)0.0095.780.000.000.00
Cash Earning Retention Ratio (%)0.0097.520.000.000.00
Interest Coverage Ratio (X)9.604.674.963.412.74
Interest Coverage Ratio (Post Tax) (X)6.152.753.072.112.01
Enterprise Value (Cr.)3001.84577.10421.05190.24158.23
EV / Net Operating Revenue (X)3.620.940.730.380.39
EV / EBITDA (X)19.899.296.023.523.89
MarketCap / Net Operating Revenue (X)3.440.700.510.210.13
Retention Ratios (%)0.0095.770.000.000.00
Price / BV (X)8.391.851.420.550.31
Price / Net Operating Revenue (X)3.440.700.510.210.13
EarningsYield0.030.050.090.170.35

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: ₹990.46

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: 19.05% compared to the current price ₹832

Intrinsic Value: ₹1,404.28

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: 68.78% compared to the current price ₹832

Last 5 Year EPS CAGR: 41.78%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has shown consistent growth in sales (432.33 cr) and profit (30.50 cr) over the years.
  1. The stock has a low average ROCE of 11.58%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 39.00, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 81.42, which may not be favorable.
  4. The company has higher borrowings (129.17) compared to reserves (101.42), which may suggest financial risk.

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 Piccadily Agro Industries Ltd:
    1. Net Profit Margin: 13.32%
      • 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: 31.06% (Industry Average ROCE: 8.25%)
      • 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: 7.42%)
      • 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: 0.65
      • 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: 89.6 (Industry average Stock P/E: 11.02)
      • 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: 0.50
      • 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.
INDUSTRYADDRESSCONTACT
SugarVillage Bhadson, Umri Indri Road, Karnal Dist. Haryana 134109piccadilygroup34@rediffmail.com
http://www.picagro.com
Management
NamePosition Held
Mr. Akhil DadaChairman
Mr. Harvinder Singh ChopraManaging Director
Mr. Jai Parkash KaushikDirector
Mr. Dharmendra Kumar BatraWhole Time Director
Ms. Heena GeraDirector
Mr. Rajeev Kumar SangerIndependent Director

FAQ

What is the latest fair value of Piccadily Agro Industries Ltd?

The latest fair value of Piccadily Agro Industries Ltd is ₹990.46.

What is the Market Cap of Piccadily Agro Industries Ltd?

The Market Cap of Piccadily Agro Industries Ltd is 7,853 Cr..

What is the current Stock Price of Piccadily Agro Industries Ltd as on 22 May 2024?

The current stock price of Piccadily Agro Industries Ltd as on 22 May 2024 is ₹832.

What is the High / Low of Piccadily Agro Industries Ltd stocks in FY 2024?

In FY 2024, the High / Low of Piccadily Agro Industries Ltd stocks is ₹903/45.8.

What is the Stock P/E of Piccadily Agro Industries Ltd?

The Stock P/E of Piccadily Agro Industries Ltd is 89.6.

What is the Book Value of Piccadily Agro Industries Ltd?

The Book Value of Piccadily Agro Industries Ltd is 36.0.

What is the Dividend Yield of Piccadily Agro Industries Ltd?

The Dividend Yield of Piccadily Agro Industries Ltd is 0.02 %.

What is the ROCE of Piccadily Agro Industries Ltd?

The ROCE of Piccadily Agro Industries Ltd is 29.6 %.

What is the ROE of Piccadily Agro Industries Ltd?

The ROE of Piccadily Agro Industries Ltd is 30.7 %.

What is the Face Value of Piccadily Agro Industries Ltd?

The Face Value of Piccadily Agro Industries 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 Piccadily Agro Industries 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