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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Pioneer Embroideries Ltd

About the Company - Pioneer Embroideries Ltd

Pioneer Embroideries Ltd. is a Public Limited Listed company incorporated on 25/10/1991 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L17291MH1991PLC063752 and registration number is 063752. Currently Company is involved in the business activities of Preparation and spinning of man-made fiber including blended* man-made fiber. Company’s Total Operating Revenue is Rs. 292.17 Cr. and Equity Capital is Rs. 26.59 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Textiles - Hosiery/KnitwearUnit No 101B, 1st Floor, Abhishek Premises, Plot No C5-6, Mumbai Maharashtra 400058mumbai@pelhakoba.com
http://www.pelhakoba.com
Management
NamePosition Held
Mr. Raj Kumar SekhaniChairman
Mr. Harsh Vardhan BassiManaging Director
Mr. Saurabh MaheshwariExecutive Director
Mr. Varun KathuriaIndependent Director
Mr. Mahesh Kumar GuptaIndependent Director
Mr. Gopalkrishnan SivaramanIndependent Director
Mrs. Sushama BhattIndependent Director
Mr. Joginder Kumar BawejaIndependent Director

Pioneer Embroideries Ltd. Share Price Update

Share PriceValue
Today₹51.00
Previous Day₹52.47

Basic Stock Data of Pioneer Embroideries Ltd

Market Cap 135 Cr.
Current Price 50.0
High / Low67.0/26.3
Stock P/E68.1
Book Value 50.0
Dividend Yield0.00 %
ROCE2.76 %
ROE0.88 %
Face Value 10.0

Data Source: screener.in

Competitors of Pioneer Embroideries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Nahar Spinning Mills Ltd 1,108 Cr. 307362/214 4220.47 %7.48 %7.01 % 5.00
Addi Industries Ltd 65.6 Cr. 60.870.7/25.220.3 70.12.06 %4.62 %3.62 % 5.00
Rupa & Company Ltd 2,210 Cr. 278309/19734.3 1151.08 %7.56 %5.92 % 1.00
Amit International Ltd 9.45 Cr. 4.996.09/1.9026.3 10.30.00 %0.20 %0.15 % 10.0
T T Ltd (TTL) 226 Cr. 105118/64.8 31.50.00 %3.11 %18.6 % 10.0
Industry Average60.81 Cr151.1616.18129.780.72%4.59%7.06%6.2

Pioneer Embroideries Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales52.7369.2479.4265.9276.3675.5374.3485.9270.3465.9774.4173.7282.51
Expenses47.2758.4970.4159.4468.7169.0970.1583.6068.0963.4569.7569.5877.95
Operating Profit5.4610.759.016.487.656.444.192.322.252.524.664.144.56
OPM %10.35%15.53%11.34%9.83%10.02%8.53%5.64%2.70%3.20%3.82%6.26%5.62%5.53%
Other Income0.240.291.350.390.170.470.710.7110.660.530.350.340.77
Interest1.211.080.970.670.650.751.130.851.090.710.990.972.16
Depreciation2.112.012.062.042.032.071.942.102.122.102.142.173.10
Profit before tax2.387.957.334.165.144.091.830.089.700.241.881.340.07
Tax %0.00%0.00%-39.02%26.92%27.43%26.16%32.24%25.00%26.49%29.17%51.06%23.88%71.43%
Net Profit2.387.9510.183.043.733.011.240.067.130.170.921.020.02
EPS in Rs0.973.053.981.141.401.130.470.022.680.070.420.390.05

Pioneer Embroideries Ltd Quarterly Chart

Pioneer Embroideries Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales213241273272255236262274238226292297297
Expenses219229254252234220253255219199267285281
Operating Profit-6121920211610191927251216
OPM %-3%5%7%7%8%7%4%7%8%12%8%4%5%
Other Income29611720-1621422122
Interest222217129119864345
Depreciation1313111915899988810
Profit before tax-11-17-8617-19-6481615124
Tax %4%-110%0%0%0%0%-0%0%0%-18%28%31%
Net Profit-10-35-91117-19-648191182
EPS in Rs-7.15-19.12-4.986.219.31-8.96-2.461.593.297.244.153.200.93
Dividend Payout %0%0%0%0%0%0%0%0%0%3%7%0%

Pioneer Embroideries Ltd Profit & Loss Yearly Chart

Pioneer Embroideries Ltd Growth

Compounded Sales Growth
10 Years:2%
5 Years:2%
3 Years:8%
TTM:7%
Compounded Profit Growth
10 Years:7%
5 Years:17%
3 Years:-43%
TTM:5%
Stock Price CAGR
10 Years:23%
5 Years:20%
3 Years:9%
1 Year:50%
Return on Equity
10 Years:11%
5 Years:8%
3 Years:9%
Last Year:1%

Pioneer Embroideries Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital13181818192224252527272727
Reserves26-9286145534753618394102108
Preference Capital28272723170300000
Borrowings2442471851209270665737323297114
Other Liabilities62646667575963605046476890
Total Liabilities345319296265213203200196173188199293339
Fixed Assets1241161109498107969385807875166
CWIP563530320087222
Investments483870000011212
Other Assets2121891811591059510110087108112135139
Total Assets345319296265213203200196173188199293339

Pioneer Embroideries Ltd Reserves and Borrowings Chart

Pioneer Embroideries Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 354862292236171926181310
Cash from Investing Activity -7-11-56-10-24-7-43-8-10-65
Cash from Financing Activity -29-35-56-35-14-12-10-16-28-5-860
Net Cash Flow-1200-2-00-115-55

Pioneer Embroideries Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days746255303938394029373133
Inventory Days94796178731208479103138106108
Days Payable595240446081727264704555
Cash Conversion Cycle11090776452775047681059186
Working Capital Days1579643593130575748808076
ROCE %2%2%6%14%16%11%2%9%9%15%12%3%

Pioneer Embroideries Ltd Financial Efficiency Indicators Chart

Pioneer Embroideries Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters33.37%32.86%32.86%32.86%32.86%32.86%32.86%32.86%32.86%32.86%32.39%32.39%
FIIs0.00%0.00%0.00%0.37%0.53%0.35%0.11%0.00%0.00%0.00%0.00%0.00%
DIIs16.36%15.77%15.31%9.41%9.40%9.41%9.40%9.40%9.40%9.40%9.27%9.27%
Public50.27%51.37%51.83%57.36%57.21%57.38%57.63%57.71%57.71%57.72%58.32%58.32%
No. of Shareholders21,16120,85024,25924,96024,77125,80225,60825,66125,22924,90924,61624,146

Pioneer Embroideries Ltd Shareholding Pattern Chart

No. of Pioneer Embroideries Ltd Shareholders

This stock is not held by any mutual fund

Pioneer Embroideries Ltd ROCE Trend

Pioneer Embroideries Ltd EPS Trend

Pioneer Embroideries Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)3.114.147.413.231.54
Diluted EPS (Rs.)3.114.107.063.231.51
Cash EPS (Rs.)6.297.1810.136.725.01
Book Value[Excl.RevalReserv]/Share (Rs.)47.2844.4240.1733.5630.39
Book Value[Incl.RevalReserv]/Share (Rs.)48.6545.7941.5435.0231.84
Revenue From Operations / Share (Rs.)111.56109.8784.9895.55109.82
PBDIT / Share (Rs.)5.609.9710.738.408.62
PBIT / Share (Rs.)2.426.937.664.905.11
PBT / Share (Rs.)4.485.725.983.321.61
Net Profit / Share (Rs.)3.114.147.063.231.51
NP After MI And SOA / Share (Rs.)3.194.157.243.291.59
PBDIT Margin (%)5.019.0712.638.787.84
PBIT Margin (%)2.166.309.015.134.65
PBT Margin (%)4.015.207.043.471.46
Net Profit Margin (%)2.793.778.303.371.37
NP After MI And SOA Margin (%)2.863.788.523.441.44
Return on Networth / Equity (%)6.789.4118.179.965.33
Return on Capital Employeed (%)3.0213.3016.0411.6112.10
Return On Assets (%)2.895.5410.224.752.02
Long Term Debt / Equity (X)0.470.080.110.160.29
Total Debt / Equity (X)0.740.260.220.350.54
Asset Turnover Ratio (%)1.201.541.281.331.43
Current Ratio (X)1.471.751.571.241.09
Quick Ratio (X)0.810.960.860.680.69
Inventory Turnover Ratio (X)3.583.872.883.764.78
Dividend Payout Ratio (NP) (%)9.396.010.000.000.00
Dividend Payout Ratio (CP) (%)4.703.470.000.000.00
Earning Retention Ratio (%)90.6193.990.000.000.00
Cash Earning Retention Ratio (%)95.3096.530.000.000.00
Interest Coverage Ratio (X)4.098.276.383.412.81
Interest Coverage Ratio (Post Tax) (X)0.764.445.201.991.67
Enterprise Value (Cr.)158.31157.53124.3373.10100.16
EV / Net Operating Revenue (X)0.530.530.550.300.36
EV / EBITDA (X)10.645.944.363.494.66
MarketCap / Net Operating Revenue (X)0.240.430.460.180.21
Retention Ratios (%)90.6093.980.000.000.00
Price / BV (X)0.591.080.990.530.79
Price / Net Operating Revenue (X)0.240.430.460.180.21
EarningsYield0.110.080.180.180.06

Pioneer Embroideries Ltd Profitability Ratios (%)

Pioneer Embroideries Ltd Liquidity Ratios

Pioneer Embroideries Ltd Liquidity Ratios (%)

Pioneer Embroideries Ltd Interest Coverage Ratios (%)

Pioneer Embroideries Ltd Valuation Ratios

Fair Value / Intrinsic Value of Pioneer Embroideries Ltd

Fair Value: ₹30.56

The stock is overvalued by 38.87% compared to the current price ₹50

*Investments are subject to market risks

Strength and Weakness of Pioneer Embroideries Ltd

StrengthWeakness
  1. The company has higher reserves (57.85 cr) compared to borrowings (9.62 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (259.69 cr) and profit (1.62 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 5.40 and average Dividend Yield of 5.45%.
  2. The stock has a low average ROCE of 8.42%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 67.83, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 76.42, which may not be favorable.

Should I Buy Pioneer Embroideries Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Pioneer Embroideries Ltd:
    1. Net Profit Margin: 2.79%
      • 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: 3.02% (Industry Average ROCE: 4.59%)
      • 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): 0.76
      • 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: 0.81
      • 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: 68.1 (Industry average Stock P/E: 16.64)
      • 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: 0.74
      • 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 Pioneer Embroideries 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