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Last Updated on: 19 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Siyaram Silk Mills Ltd

Basic Stock Data

Last Updated: June 17, 2024, 8:13 pm

Market Cap 2,115 Cr.
Current Price 466
High / Low635/410
Stock P/E11.4
Book Value 251
Dividend Yield2.36 %
ROCE20.4 %
ROE16.2 %
Face Value 2.00
PEG Ratio0.53

Competitors of Siyaram Silk Mills Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Orbit Exports Ltd 483 Cr. 183230/13614.2 88.40.00 %18.5 %15.1 % 10.0
Alok Industries Ltd 14,598 Cr. 29.439.2/14.6 39.80.00 %4.32 %% 1.00
Acknit Industries Ltd 100 Cr. 330369/15911.8 2590.45 %11.0 %11.5 % 10.0
Industry Average5,060.33 Cr180.808.67129.070.15%11.27%8.87%7.00

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales507233480562628398635501695354585502646
Expenses427203395460510346516425573331497433540
Operating Profit8030851021185212076121238868106
OPM %16%13%18%18%19%13%19%15%17%6%15%14%16%
Other Income158696791310812116
Interest5555446654565
Depreciation14151514141414151413141414
Profit before tax76177292106411096811313816093
Tax %23%25%26%25%27%25%26%24%22%24%24%26%26%
Net Profit58135369773181528810614469
EPS in Rs12.432.7511.3614.7316.496.6117.1811.0918.852.1413.109.7615.21

Last Updated: June 10, 2024, 2:54 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 6:05 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,0321,2911,4961,6091,5701,7331,8151,6981,0881,9032,2292,087
Expenses9221,1461,3211,4131,3731,4871,5731,5291,0331,5691,8601,802
Operating Profit11014617419619724624116955334369285
OPM %11%11%12%12%13%14%13%10%5%18%17%14%
Other Income191016142520243441294038
Interest252931313234484330182020
Depreciation222941525561627361595855
Profit before tax8298119127136171154885287332247
Tax %33%35%34%34%33%35%35%18%-2%26%24%25%
Net Profit5564798491112101725213252185
EPS in Rs11.7313.5516.8017.9319.4123.8121.5815.301.1445.3453.7340.71
Dividend Payout %13%12%12%12%15%18%20%56%404%20%20%17%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)16.36%23.44%6.33%8.33%23.08%-9.82%-28.71%-93.06%4160.00%18.31%-26.59%
Change in YoY Net Profit Growth (%)0.00%7.07%-17.11%2.00%14.74%-32.90%-18.89%-64.34%4253.06%-4141.69%-44.90%

Growth

Compounded Sales Growth
10 Years:8%
5 Years:5%
3 Years:10%
TTM:-1%
Compounded Profit Growth
10 Years:16%
5 Years:17%
3 Years:52%
TTM:-17%
Stock Price CAGR
10 Years:23%
5 Years:2%
3 Years:36%
1 Year:-5%
Return on Equity
10 Years:16%
5 Years:15%
3 Years:17%
Last Year:24%

Last Updated: April 13, 2024, 9:23 am

Balance Sheet

Last Updated: June 2, 2024, 12:14 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital999999999999
Reserves3053604264975876697487587659281,1321,132
Borrowings278314309408305573444428139223163175
Other Liabilities195213236282258301303308304355336290
Total Liabilities7888969811,1951,1591,5531,5051,5031,2171,5151,6401,606
Fixed Assets305349332398409439519548487498477474
CWIP1637536938432519
Investments000150332525524913541
Other Assets4665436417787149899539266769671,0221,072
Total Assets7888969811,1951,1591,5531,5051,5031,2171,5151,6401,606

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

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-168.00-168.00-135.00-212.00-108.00-327.00-203.00-259.00-84.00111.00206.00110.00

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 Days717482827189797387747082
Inventory Days152122110147156203190190146164143171
Days Payable8165657969857981102876560
Cash Conversion Cycle142131127151157206190182132151148193
Working Capital Days9592101111106143136135125127118146
ROCE %19%21%21%19%18%19%17%11%3%29%28%

Financial Efficiency Indicators Chart

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

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Small Cap Fund360,9540.1419.29360,9542024-06-170%
Motilal Oswal Nifty Microcap 250 Index Fund16,3590.140.87360,9542024-06-17-95.47%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)39.9953.5546.140.7614.77
Diluted EPS (Rs.)39.9953.5546.140.7614.77
Cash EPS (Rs.)52.9565.9758.7113.8130.36
Book Value[Excl.RevalReserv]/Share (Rs.)250.72242.56199.27163.64162.59
Book Value[Incl.RevalReserv]/Share (Rs.)250.72242.56199.27163.64162.59
Revenue From Operations / Share (Rs.)461.31476.32406.44232.40362.56
PBDIT / Share (Rs.)71.1987.1978.4120.1842.93
PBIT / Share (Rs.)58.9774.7865.847.1327.35
PBT / Share (Rs.)54.5070.5761.990.7318.17
Net Profit / Share (Rs.)40.7453.5546.140.7614.77
NP After MI And SOA / Share (Rs.)40.7453.5546.140.7614.77
PBDIT Margin (%)15.4318.3019.298.6811.84
PBIT Margin (%)12.7815.6916.203.067.54
PBT Margin (%)11.8114.8115.250.315.01
Net Profit Margin (%)8.8311.2411.350.324.07
NP After MI And SOA Margin (%)8.8311.2411.350.324.07
Return on Networth / Equity (%)16.2422.0723.150.469.08
Return on Capital Employeed (%)22.1028.6629.343.6413.05
Return On Assets (%)11.5315.3314.290.294.65
Long Term Debt / Equity (X)0.000.010.030.070.13
Total Debt / Equity (X)0.140.130.220.100.45
Asset Turnover Ratio (%)1.291.411.400.801.14
Current Ratio (X)2.732.662.122.291.77
Quick Ratio (X)1.541.641.241.420.91
Inventory Turnover Ratio (X)1.912.252.531.091.62
Dividend Payout Ratio (NP) (%)0.0019.0422.970.0058.20
Dividend Payout Ratio (CP) (%)0.0015.4618.050.0028.32
Earning Retention Ratio (%)0.0080.9677.030.0041.80
Cash Earning Retention Ratio (%)0.0084.5481.950.0071.68
Interest Coverage Ratio (X)15.9120.7020.343.164.68
Interest Coverage Ratio (Post Tax) (X)10.1113.7212.971.122.61
Enterprise Value (Cr.)2131.272099.462173.16938.35998.85
EV / Net Operating Revenue (X)1.020.941.140.860.58
EV / EBITDA (X)6.605.145.919.924.96
MarketCap / Net Operating Revenue (X)0.940.871.030.800.38
Retention Ratios (%)0.0080.9577.020.0041.79
Price / BV (X)1.741.722.111.140.86
Price / Net Operating Revenue (X)0.940.871.030.800.38
EarningsYield0.090.120.100.000.10

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 474.49

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: 1.82% compared to the current price 466

Intrinsic Value: 577.07

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: 23.83% compared to the current price ₹466

Last 5 Year EPS CAGR: 21.62%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 17.08%, which is a positive sign.
  2. The company has higher reserves (692.25 cr) compared to borrowings (313.25 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (1.17 cr) and profit (153.83 cr) over the years.
  1. The stock has a high average Working Capital Days of 119.58, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 159.17, 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 Siyaram Silk Mills Ltd:
    1. Net Profit Margin: 8.83%
      • 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: 22.10% (Industry Average ROCE: 14.41%)
      • 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%: 16.24% (Industry Average ROE: 10.43%)
      • 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): 10.11
      • 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: 1.54
      • 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: 11.4 (Industry average Stock P/E: 8.53)
      • 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: 0.14
      • 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

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

FAQ

What is the latest fair value of Siyaram Silk Mills Ltd?

The latest fair value of Siyaram Silk Mills Ltd is ₹474.49.

What is the Market Cap of Siyaram Silk Mills Ltd?

The Market Cap of Siyaram Silk Mills Ltd is 2,115 Cr..

What is the current Stock Price of Siyaram Silk Mills Ltd as on 18 June 2024?

The current stock price of Siyaram Silk Mills Ltd as on 18 June 2024 is ₹466.

What is the High / Low of Siyaram Silk Mills Ltd stocks in FY 2024?

In FY 2024, the High / Low of Siyaram Silk Mills Ltd stocks is 635/410.

What is the Stock P/E of Siyaram Silk Mills Ltd?

The Stock P/E of Siyaram Silk Mills Ltd is 11.4.

What is the Book Value of Siyaram Silk Mills Ltd?

The Book Value of Siyaram Silk Mills Ltd is 251.

What is the Dividend Yield of Siyaram Silk Mills Ltd?

The Dividend Yield of Siyaram Silk Mills Ltd is 2.36 %.

What is the ROCE of Siyaram Silk Mills Ltd?

The ROCE of Siyaram Silk Mills Ltd is 20.4 %.

What is the ROE of Siyaram Silk Mills Ltd?

The ROE of Siyaram Silk Mills Ltd is 16.2 %.

What is the Face Value of Siyaram Silk Mills Ltd?

The Face Value of Siyaram Silk Mills Ltd is 2.00.

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 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