Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Siyaram Silk Mills Ltd

About the Company - Siyaram Silk Mills Ltd

Siyaram Silk Mills Ltd. is a Public Limited Listed company incorporated on 29/06/1978 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L17116MH1978PLC020451 and registration number is 020451. Currently Company is involved in the business activities of Spinning, weaving and finishing of textiles. Company’s Total Operating Revenue is Rs. 1903.07 Cr. and Equity Capital is Rs. 9.37 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Textiles - WeavingH-3/2, MIDC, A-Road, Tarapur, Palghar District Maharashtra 401506sharedept@siyaram.com
http://www.siyaram.com
Management
NamePosition Held
Mr. Ramesh D PoddarChairman & Managing Director
Mr. Pawan D PoddarJoint Managing Director
Mr. Shrikishan D PoddarExecutive Director
Mr. Gaurav P PoddarExecutive Director & President
Mr. Ashok M JalanSenior President & Director
Mrs. Mangala R PrabhuInd. Non-Executive Director
Mr. Sachindra N ChaturvediInd. Non-Executive Director
Mr. Deepak R ShahInd. Non-Executive Director
Mr. Ashok N DesaiInd. Non-Executive Director
Mr. Chetan S ThakkarInd. Non-Executive Director

Siyaram Silk Mills Ltd. Share Price Update

Share PriceValue
Today₹512.00
Previous Day₹539.65

Basic Stock Data of Siyaram Silk Mills Ltd

Market Cap 2,407 Cr.
Current Price 514
High / Low635/399
Stock P/E11.8
Book Value 255
Dividend Yield2.14 %
ROCE27.9 %
ROE23.7 %
Face Value 2.00

Data Source: screener.in

Competitors of Siyaram Silk Mills Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Acknit Industries Ltd 85.7 Cr. 282328/13311.1 2420.53 %12.9 %13.7 % 10.0
Orbit Exports Ltd 513 Cr. 190230/11415.1 89.30.00 %19.5 %16.9 % 10.0
Industry Average299.35 Cr23613.1165.650.27%16.2%15.3%10

Siyaram Silk Mills Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales174382507233480562628398635501695354585
Expenses179330427203395460510346516425573331497
Operating Profit-65280308510211852120761212388
OPM %-3%14%16%13%18%18%19%13%19%15%17%6%15%
Other Income129158696791310812
Interest9655554466545
Depreciation16161415151414141415141314
Profit before tax-18397617729210641109681131381
Tax %26%27%23%25%26%25%27%25%26%24%22%24%24%
Net Profit-14285813536977318152881061
EPS in Rs-2.915.9812.432.7511.3614.7316.496.6117.1811.0918.852.1413.10

Siyaram Silk Mills Ltd Quarterly Chart

Siyaram Silk Mills Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales9071,0321,2911,4961,6091,5701,7331,8151,6981,0881,9032,2292,135
Expenses7909221,1461,3211,4131,3731,4871,5731,5291,0331,5691,8601,827
Operating Profit11711014617419619724624116955334369308
OPM %13%11%11%12%12%13%14%13%10%5%18%17%14%
Other Income11191016142520243441294044
Interest24252931313234484330182020
Depreciation22222941525561627361595856
Profit before tax818298119127136171154885287332275
Tax %30%33%35%34%34%33%35%35%18%-2%26%24%
Net Profit575564798491112101725213252212
EPS in Rs12.1011.7313.5516.8017.9319.4123.8121.5815.301.1445.3453.7345.18
Dividend Payout %12%13%12%12%12%15%18%20%56%404%20%20%

Siyaram Silk Mills Ltd Profit & Loss Yearly Chart

Siyaram Silk Mills Ltd Growth

Compounded Sales Growth
10 Years:8%
5 Years:5%
3 Years:10%
TTM:-4%
Compounded Profit Growth
10 Years:16%
5 Years:17%
3 Years:52%
TTM:-19%
Stock Price CAGR
10 Years:26%
5 Years:10%
3 Years:41%
1 Year:11%
Return on Equity
10 Years:16%
5 Years:15%
3 Years:17%
Last Year:24%

Siyaram Silk Mills Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital9999999999999
Reserves2583053604264975876697487587659281,1321,184
Borrowings237278314309408305573444428139223163212
Other Liabilities208195213236282258301303308304355336320
Total Liabilities7137888969811,1951,1591,5531,5051,5031,2171,5151,6401,725
Fixed Assets230305349332398409439519548487498477467
CWIP151637536938432510
Investments300015-03325255249135132
Other Assets4654665436417787149899539266769671,0221,117
Total Assets7137888969811,1951,1591,5531,5051,5031,2171,5151,6401,725

Siyaram Silk Mills Ltd Reserves and Borrowings Chart

Siyaram Silk Mills Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 6168666081203-2819220533236235
Cash from Investing Activity -8-73-61-23-111-69-158-12-27-29-55-113
Cash from Financing Activity -546-3-3831-135204-194-182-30119-123
Net Cash Flow-112-11-118-15-41-1-0

Siyaram Silk Mills Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days717174828271897973877470
Inventory Days149152122110147156203190190146164143
Days Payable7081656579698579811028765
Cash Conversion Cycle150142131127151157206190182132151148
Working Capital Days1039592101111106143136135125127118
ROCE %21%19%21%21%19%18%19%17%11%3%29%28%

Siyaram Silk Mills Ltd Financial Efficiency Indicators Chart

Siyaram Silk Mills Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters67.19%67.19%67.19%67.19%67.18%67.18%67.18%67.18%67.18%67.18%67.18%67.45%
FIIs0.74%1.71%1.92%2.83%3.65%3.28%2.66%2.61%2.04%2.39%1.91%1.75%
DIIs11.15%11.21%10.76%7.75%6.19%6.24%6.11%4.45%4.85%4.27%4.42%3.44%
Public20.91%19.88%20.12%22.23%22.98%23.29%24.04%25.74%25.94%26.14%26.49%27.37%
No. of Shareholders17,52821,99926,90729,76928,42640,00444,82842,97338,11135,39051,44939,855

Siyaram Silk Mills Ltd Shareholding Pattern Chart

No. of Siyaram Silk Mills Ltd Shareholders

Siyaram Silk Mills Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
DSP Small Cap Fund3609540.1419.29
Motilal Oswal Nifty Microcap 250 Index Fund163590.140.87

Siyaram Silk Mills Ltd ROCE Trend

Siyaram Silk Mills Ltd EPS Trend

Siyaram Silk Mills Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)53.5546.140.7614.7721.14
Diluted EPS (Rs.)53.5546.140.7614.7721.14
Cash EPS (Rs.)65.9758.7113.8130.3634.42
Book Value[Excl.RevalReserv]/Share (Rs.)242.56199.27163.64162.59161.06
Book Value[Incl.RevalReserv]/Share (Rs.)242.56199.27163.64162.59161.06
Revenue From Operations / Share (Rs.)476.32406.44232.40362.56387.49
PBDIT / Share (Rs.)87.1978.4120.1842.9357.13
PBIT / Share (Rs.)74.7865.847.1327.3543.85
PBT / Share (Rs.)70.5761.990.7318.1732.52
Net Profit / Share (Rs.)53.5546.140.7614.7721.14
NP After MI And SOA / Share (Rs.)53.5546.140.7614.7721.14
PBDIT Margin (%)18.3019.298.6811.8414.74
PBIT Margin (%)15.6916.203.067.5411.31
PBT Margin (%)14.8115.250.315.018.39
Net Profit Margin (%)11.2411.350.324.075.45
NP After MI And SOA Margin (%)11.2411.350.324.075.45
Return on Networth / Equity (%)22.0723.150.469.0813.12
Return on Capital Employeed (%)28.6629.343.6413.0520.91
Return On Assets (%)15.3314.290.294.656.59
Long Term Debt / Equity (X)0.010.030.070.130.18
Total Debt / Equity (X)0.130.220.100.450.54
Asset Turnover Ratio (%)1.411.400.801.141.19
Current Ratio (X)2.662.122.291.771.79
Quick Ratio (X)1.641.241.420.910.97
Inventory Turnover Ratio (X)2.252.531.091.621.52
Dividend Payout Ratio (NP) (%)19.0422.970.0058.2010.40
Dividend Payout Ratio (CP) (%)15.4618.050.0028.326.39
Earning Retention Ratio (%)80.9677.030.0041.8089.60
Cash Earning Retention Ratio (%)84.5481.950.0071.6893.61
Interest Coverage Ratio (X)20.7020.343.164.685.54
Interest Coverage Ratio (Post Tax) (X)13.7212.971.122.613.15
Enterprise Value (Cr.)2099.462173.16938.35998.852491.32
EV / Net Operating Revenue (X)0.941.140.860.581.37
EV / EBITDA (X)5.145.919.924.969.30
MarketCap / Net Operating Revenue (X)0.871.030.800.381.15
Retention Ratios (%)80.9577.020.0041.7989.59
Price / BV (X)1.722.111.140.862.77
Price / Net Operating Revenue (X)0.871.030.800.381.15
EarningsYield0.120.100.000.100.04

Siyaram Silk Mills Ltd Profitability Ratios (%)

Siyaram Silk Mills Ltd Liquidity Ratios

Siyaram Silk Mills Ltd Liquidity Ratios (%)

Siyaram Silk Mills Ltd Interest Coverage Ratios (X)

Siyaram Silk Mills Ltd Valuation Ratios

Fair Value / Intrinsic Value of Siyaram Silk Mills Ltd

Fair Value: ₹728.39

The stock is undervalued by 41.71% compared to the current price ₹514

*Investments are subject to market risks

Strength and Weakness of Siyaram Silk Mills Ltd

StrengthWeakness
  1. The stock has a high average ROCE of 18.83%, which is a positive sign.
  2. The company has higher reserves (662.85 cr) compared to borrowings (310.23 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (70.85 cr) and profit (150.38 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 43.79 and average Dividend Yield of 10.76%.
  2. The stock has a high average Working Capital Days of 116.00, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 155.58, which may not be favorable.

Should I Buy Siyaram Silk Mills Ltd Share Now?

  • Based on the analysis of various financial indicators, it may be worth considering investment in Siyaram Silk Mills Ltd:
    1. Net Profit Margin: 11.24% (Higher values are generally favorable)
      • 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: 28.66% (Industry Average ROCE: 16.2%)
      • 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): 13.72 (Higher values, preferably > 2, are recommended)
      • 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: 1.64 (Higher values, preferably > 1, are recommended)
      • 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: 11.7 (Industry average Stock P/E: 13)
      • 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: 0.13 (Lower values, preferably < 1, are preferred)
      • 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.
    While these metrics suggest potential opportunity, it's essential to conduct thorough research or seek advice from financial experts before making any investment decisions.

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 Siyaram Silk Mills 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