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Last Updated on: 05 October, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 523648 | NSE: PLASTIBLEN

Plastiblends India Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: October 4, 2024, 5:11 pm

Market Cap 763 Cr.
Current Price 294
High / Low399/223
Stock P/E20.2
Book Value 156
Dividend Yield1.45 %
ROCE11.1 %
ROE8.26 %
Face Value 5.00
PEG Ratio104.07

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

View Share Price Target for Plastiblends India Ltd

Competitors of Plastiblends India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Harshdeep Hortico Ltd 125 Cr. 77.686.0/39.019.1 23.10.00 %50.1 %35.2 % 10.0
TPL Plastech Ltd 795 Cr. 102136/42.238.4 16.70.78 %19.0 %15.8 % 2.00
Sintex Plastics Technology Ltd 67.4 Cr. 1.061.51/0.75 3.560.00 %276 %977 % 1.00
Plastiblends India Ltd 763 Cr. 294399/22320.2 1561.45 %11.1 %8.26 % 5.00
Industry Average561.00 Cr118.6725.9049.840.56%89.05%259.07%4.50

All Competitor Stocks of Plastiblends India Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales153171174219204180186198196210197199212
Expenses140160154201188172178180183196186183195
Operating Profit131120171688181314111616
OPM %8%6%12%8%8%4%4%9%7%7%6%8%8%
Other Income2113322-113222
Interest1111101000000
Depreciation4444444444444
Profit before tax981715146512101391415
Tax %28%28%27%20%27%30%16%28%27%26%27%23%26%
Net Profit7612121044981071111
EPS in Rs2.602.124.644.763.841.621.533.342.943.672.544.134.17

Last Updated: September 25, 2024, 2:51 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 25, 2024, 2:51 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales400455484511545568627587555699751781818
Expenses368408433452481513567519487637701726760
Operating Profit31475159645560676962505558
OPM %8%10%10%12%12%10%10%12%12%9%7%7%7%
Other Income2322121346589
Interest6644888133211
Depreciation4466111212171616161515
Profit before tax23414352463842525349364650
Tax %33%33%30%27%30%28%25%28%30%25%26%25%
Net Profit15273038332731373737273538
EPS in Rs5.9110.4811.5614.4912.5810.5111.9914.3114.3714.1210.3313.2914.51
Dividend Payout %30%24%24%24%10%24%23%26%28%28%39%32%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)80.00%11.11%26.67%-13.16%-18.18%14.81%19.35%0.00%0.00%-27.03%29.63%
Change in YoY Net Profit Growth (%)0.00%-68.89%15.56%-39.82%-5.02%33.00%4.54%-19.35%0.00%-27.03%56.66%

Plastiblends India Ltd 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:6%
5 Years:4%
3 Years:12%
TTM:8%
Compounded Profit Growth
10 Years:2%
5 Years:1%
3 Years:-4%
TTM:54%
Stock Price CAGR
10 Years:9%
5 Years:11%
3 Years:2%
1 Year:29%
Return on Equity
10 Years:12%
5 Years:10%
3 Years:8%
Last Year:8%

Last Updated: Unknown

Balance Sheet

Last Updated: September 25, 2024, 2:51 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital6666613131313131313
Reserves110130151178217235256268317368382392
Borrowings58312082911057848324598
Other Liabilities628080948488678091928169
Total Liabilities236248258361399442414409453518484482
Fixed Assets656473151169176173180179189181176
CWIP015101039201
Investments433310118422516771
Other Assets168180177206219255233222242275236235
Total Assets236248258361399442414409453518484482

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 43737712515597448157238
Cash from Investing Activity -7-3-19-80-25-17-8-20-27-5-26-27
Cash from Financing Activity 3-32-189-03-51-55-19-12-45-11
Net Cash Flow-02-1-0-00-1-11-11-0

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-27.0016.0031.00-23.00-27.00-50.00-18.0019.0037.0017.0041.0047.00

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 Days787170777478776362624441
Inventory Days7263475766846285115937676
Days Payable313530503435121724161714
Cash Conversion Cycle119998684106127127131153139102104
Working Capital Days1119287971061241071011161108786
ROCE %17%27%27%25%19%14%14%16%16%13%9%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters64.15%64.27%63.77%63.90%63.82%63.60%63.37%63.37%64.21%64.38%64.38%64.38%
FIIs1.26%1.33%1.35%1.31%1.32%0.76%0.75%0.75%0.76%0.82%0.84%0.73%
DIIs0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.22%0.00%0.00%0.00%
Public34.38%34.18%34.66%34.57%34.65%35.43%35.65%35.65%34.82%34.80%34.79%34.88%
No. of Shareholders12,83912,84914,00014,32914,11814,12113,93513,84913,48314,54915,14615,309

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
FaceValue5.005.005.005.005.00
Basic EPS (Rs.)13.2810.3314.1214.3714.30
Diluted EPS (Rs.)13.2810.3314.1214.3714.30
Cash EPS (Rs.)19.2116.6620.3120.4820.86
Book Value[Excl.RevalReserv]/Share (Rs.)155.99151.96146.78127.02108.08
Book Value[Incl.RevalReserv]/Share (Rs.)155.99151.96146.78127.02108.08
Dividend / Share (Rs.)4.254.004.004.003.75
Revenue From Operations / Share (Rs.)308.65295.71276.13222.14233.12
PBDIT / Share (Rs.)24.1421.1826.2327.7326.96
PBIT / Share (Rs.)18.2114.8520.0421.6320.40
PBT / Share (Rs.)17.7614.0418.8420.4719.83
Net Profit / Share (Rs.)13.2810.3314.1214.3714.30
PBDIT Margin (%)7.817.169.4912.4811.56
PBIT Margin (%)5.905.027.259.738.75
PBT Margin (%)5.754.746.829.218.50
Net Profit Margin (%)4.303.495.116.466.13
Return on Networth / Equity (%)8.516.799.6211.3113.23
Return on Capital Employeed (%)10.878.9612.2315.5516.45
Return On Assets (%)7.155.547.098.249.09
Long Term Debt / Equity (X)0.000.000.000.000.03
Total Debt / Equity (X)0.000.000.080.090.14
Asset Turnover Ratio (%)1.661.531.481.341.47
Current Ratio (X)5.874.813.032.692.52
Quick Ratio (X)3.212.561.551.341.38
Inventory Turnover Ratio (X)4.894.574.193.494.86
Dividend Payout Ratio (NP) (%)30.1138.7128.320.0054.78
Dividend Payout Ratio (CP) (%)20.8224.0119.690.0037.55
Earning Retention Ratio (%)69.8961.2971.680.0045.22
Cash Earning Retention Ratio (%)79.1875.9980.310.0062.45
Interest Coverage Ratio (X)53.6326.0122.0023.8947.27
Interest Coverage Ratio (Post Tax) (X)30.5213.6912.8513.3826.08
Enterprise Value (Cr.)597.87392.41543.48623.64338.66
EV / Net Operating Revenue (X)0.740.510.751.080.55
EV / EBITDA (X)9.537.137.978.654.83
MarketCap / Net Operating Revenue (X)0.740.510.711.030.49
Retention Ratios (%)69.8861.2871.670.0045.21
Price / BV (X)1.480.991.341.801.07
Price / Net Operating Revenue (X)0.740.510.711.030.49
EarningsYield0.050.060.070.060.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Plastiblends India Ltd as of October 5, 2024 is: ₹264.06

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 October 5, 2024, Plastiblends India Ltd is Overvalued by 10.18% compared to the current share price ₹294.00

Intrinsic Value of Plastiblends India Ltd as of October 5, 2024 is: ₹264.57

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 October 5, 2024, Plastiblends India Ltd is Overvalued by 10.01% compared to the current share price ₹294.00

Last 5 Year EPS CAGR: 0.19%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 17.33%, which is a positive sign.
  2. The company has higher reserves (250.33 cr) compared to borrowings (50.58 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (598.54 cr) and profit (43.92 cr) over the years.
  1. The stock has a high average Working Capital Days of 102.00, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 114.75, which may not be favorable.

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 Plastiblends India Ltd:
    1. Net Profit Margin: 4.3%
      • 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: 10.87% (Industry Average ROCE: 89.05%)
      • 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%: 8.51% (Industry Average ROE: 259.07%)
      • 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): 30.52
      • 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: 3.21
      • 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: 20.2 (Industry average Stock P/E: 25.9)
      • 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
      • 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

Plastiblends India Ltd. is a Public Limited Listed company incorporated on 22/01/1991 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L25200MH1991PLC059943 and registration number is 059943. Currently Company is involved in the business activities of Manufacture of plastic in primary forms (includes amino-resins, polyurethanes etc.). Company’s Total Operating Revenue is Rs. 717.63 Cr. and Equity Capital is Rs. 12.99 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Plastics - Plastic & Plastic ProductsFortune Terraces, A-Wing, 10th Floor, Mumbai Maharashtra 400053pbi@kolsitegroup.com
http://www.plastiblends.com
Management
NamePosition Held
Mr. Satyanarayan G KabraChairman & Managing Director
Mr. Varun S KabraVice Chairman & Mng.Director
Mr. Pushp Raj SinghviIndependent Director
Mr. Sudarshan K ParabIndependent Director
Mr. Bajrang Lal BagraIndependent Director
Mr. Rahul R RathiIndependent Director
Mrs. Meena S AgrawalIndependent Director
Mr. Shreevallabh G KabraDirector
Mrs. Jyoti V KabraDirector
Mr. Dharmendra K GandhiAdditional Director

FAQ

What is the latest fair value of Plastiblends India Ltd?

The latest fair value of Plastiblends India Ltd is ₹264.06.

What is the Market Cap of Plastiblends India Ltd?

The Market Cap of Plastiblends India Ltd is 763 Cr..

What is the current Stock Price of Plastiblends India Ltd as on 05 October 2024?

The current stock price of Plastiblends India Ltd as on 05 October 2024 is ₹294.

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

In FY 2024, the High / Low of Plastiblends India Ltd stocks is 399/223.

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

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

What is the Book Value of Plastiblends India Ltd?

The Book Value of Plastiblends India Ltd is 156.

What is the Dividend Yield of Plastiblends India Ltd?

The Dividend Yield of Plastiblends India Ltd is 1.45 %.

What is the ROCE of Plastiblends India Ltd?

The ROCE of Plastiblends India Ltd is 11.1 %.

What is the ROE of Plastiblends India Ltd?

The ROE of Plastiblends India Ltd is 8.26 %.

What is the Face Value of Plastiblends India Ltd?

The Face Value of Plastiblends India Ltd is 5.00.

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 Plastiblends India 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