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Last Updated on: 21 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Som Distilleries & Breweries Ltd

Basic Stock Data

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

Market Cap 2,415 Cr.
Current Price 125
High / Low156/84.5
Stock P/E27.9
Book Value 29.0
Dividend Yield0.08 %
ROCE19.4 %
ROE18.5 %
Face Value 2.00
PEG Ratio0.69

Competitors of Som Distilleries & Breweries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Tilaknagar Industries Ltd 5,255 Cr. 273291/14037.3 33.90.09 %22.3 %25.0 % 10.0
United Breweries Ltd 56,576 Cr. 2,1402,174/1,464138 1580.47 %13.5 %10.1 % 1.00
Aurangabad Distillery Ltd 224 Cr. 273369/16910.7 1070.00 %29.7 %31.5 % 10.0
United Spirits Ltd 94,875 Cr. 1,3051,314/86666.8 97.90.69 %28.7 %21.7 % 2.00
Radico Khaitan Ltd 23,836 Cr. 1,7861,885/1,14193.2 1780.17 %13.2 %11.3 % 2.00
Industry Average36,153.20 Cr1,155.4069.20114.960.28%21.48%19.92%5.00

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales108507789146254147149253385248266382
Expenses100557384134220129132224336221235340
Operating Profit8-556123417172849273242
OPM %7%-10%6%6%8%13%12%11%11%13%11%12%11%
Other Income1111021302004
Interest5444444343333
Depreciation4444444444666
Profit before tax0-13-2-142810122043192436
Tax %-1,056%0%0%0%-73%9%20%10%22%21%23%24%45%
Net Profit4-13-2-16268111634151820
EPS in Rs0.20-0.69-0.14-0.060.351.400.450.540.821.740.770.931.03

Last Updated: June 9, 2024, 6:59 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 26, 2024, 4:46 pm

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales2453513934602883658071,281
Expenses2092923444162973457051,131
Operating Profit36594944-1020102149
OPM %15%17%13%10%-3%5%13%12%
Other Income32343-016
Interest119121519151612
Depreciation4491213171721
Profit before tax24473221-39-1370122
Tax %40%47%38%28%2%22%14%29%
Net Profit14252015-38-106086
EPS in Rs0.911.631.080.82-2.08-0.543.124.46
Dividend Payout %29%16%25%0%0%0%3%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)78.57%-20.00%-25.00%-353.33%73.68%700.00%43.33%
Change in YoY Net Profit Growth (%)0.00%-98.57%-5.00%-328.33%427.02%626.32%-656.67%

Growth

Compounded Sales Growth
10 Years:%
5 Years:27%
3 Years:65%
TTM:59%
Compounded Profit Growth
10 Years:%
5 Years:35%
3 Years:62%
TTM:43%
Stock Price CAGR
10 Years:11%
5 Years:40%
3 Years:88%
1 Year:21%
Return on Equity
10 Years:%
5 Years:7%
3 Years:13%
Last Year:18%

Last Updated: June 17, 2024, 2:43 pm

Balance Sheet

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital2828323232353739
Reserves113134278287249255338476
Borrowings7491169222208197242159
Other Liabilities90115207215222212294254
Total Liabilities305366687757712699912928
Fixed Assets6878207272414406391463
CWIP2194150142209741
Investments00000000
Other Assets216194330343295294424424
Total Assets305366687757712699912928

Reserves and Borrowings Chart

Tilaknagar Industries Ltd Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 888144123914
Cash from Investing Activity -81-87-197-70-13-6-108
Cash from Financing Activity 5019226-18-897
Net Cash Flow12-6-1-3-7-53

Free Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-38.00-32.00-120.00-178.00-218.00-177.00-140.00-17.00

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

Som Distilleries & Breweries Ltd Financial Efficiency Indicators

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days747311010316711664
Inventory Days13762175156151149102
Days Payable1276311613019712283
Cash Conversion Cycle847216912912114283
Working Capital Days137417160555264
ROCE %24%12%7%-4%1%16%

Financial Efficiency Indicators Chart

Som Distilleries & Breweries Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters24.48%24.48%24.48%24.48%29.29%30.11%30.41%32.72%33.11%34.46%34.50%34.73%
FIIs0.00%0.05%0.02%0.11%0.05%0.21%1.18%1.64%1.10%1.08%0.86%0.58%
DIIs2.15%1.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.15%0.47%0.49%
Public73.37%74.46%75.50%75.42%70.66%69.68%68.41%65.64%65.79%64.29%64.17%64.20%
No. of Shareholders20,77125,02026,85028,13027,65026,62729,30134,59933,47244,31952,64465,759

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
FaceValue5.005.005.0010.0010.00
Basic EPS (Rs.)11.228.47-1.45-5.864.65
Diluted EPS (Rs.)11.218.40-1.45-5.864.65
Cash EPS (Rs.)13.8310.480.99-7.608.21
Book Value[Excl.RevalReserv]/Share (Rs.)76.0550.8941.3886.7298.45
Book Value[Incl.RevalReserv]/Share (Rs.)76.0550.8941.3886.7298.45
Revenue From Operations / Share (Rs.)164.20109.3651.8388.50141.53
PBDIT / Share (Rs.)19.8914.022.80-2.1514.75
PBIT / Share (Rs.)17.1611.720.40-6.2711.16
PBT / Share (Rs.)15.639.55-1.79-12.016.43
Net Profit / Share (Rs.)11.098.17-1.41-11.724.62
NP After MI And SOA / Share (Rs.)11.098.17-1.41-11.724.62
PBDIT Margin (%)12.1112.825.40-2.4310.42
PBIT Margin (%)10.4410.710.77-7.087.88
PBT Margin (%)9.528.73-3.45-13.574.54
Net Profit Margin (%)6.757.47-2.71-13.233.26
NP After MI And SOA Margin (%)6.757.47-2.71-13.233.26
Return on Networth / Equity (%)15.3916.06-3.39-13.514.69
Return on Capital Employeed (%)18.0514.530.69-4.907.61
Return On Assets (%)7.396.61-1.40-5.351.98
Long Term Debt / Equity (X)0.170.420.380.430.45
Total Debt / Equity (X)0.290.640.680.630.62
Asset Turnover Ratio (%)1.231.000.330.270.50
Current Ratio (X)1.301.230.910.941.15
Quick Ratio (X)0.870.800.620.710.78
Inventory Turnover Ratio (X)5.344.582.371.462.14
Dividend Payout Ratio (NP) (%)0.003.000.000.0032.44
Dividend Payout Ratio (CP) (%)0.002.340.000.0018.25
Earning Retention Ratio (%)0.0097.000.000.0067.56
Cash Earning Retention Ratio (%)0.0097.660.000.0081.75
Interest Coverage Ratio (X)13.056.481.28-0.373.12
Interest Coverage Ratio (Post Tax) (X)8.284.780.35-1.041.98
Enterprise Value (Cr.)2234.031363.55625.60269.69375.80
EV / Net Operating Revenue (X)1.741.691.720.930.81
EV / EBITDA (X)14.4013.1831.94-38.537.84
MarketCap / Net Operating Revenue (X)1.601.411.210.360.43
Retention Ratios (%)0.0096.990.000.0067.55
Price / BV (X)3.653.021.510.370.62
Price / Net Operating Revenue (X)1.601.411.210.360.43
EarningsYield0.040.05-0.02-0.350.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 149.80

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: 19.84% compared to the current price 125

Intrinsic Value: 210.20

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: 68.16% compared to the current price ₹125

Last 5 Year EPS CAGR: 40.32%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (272.13 cr) compared to borrowings (171.13 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (363.75 cr) and profit (33.00 cr) over the years.
  1. The stock has a low average ROCE of 8.00%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 68.57, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 114.29, 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 Som Distilleries & Breweries Ltd:
    1. Net Profit Margin: 6.75%
      • 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: 18.05% (Industry Average ROCE: 19.42%)
      • 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%: 15.39% (Industry Average ROE: 17.32%)
      • 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): 8.28
      • 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: 0.87
      • 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: 27.9 (Industry average Stock P/E: 71.98)
      • 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: 0.29
      • 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

Som Distilleries & Breweries Ltd. is a Public Limited Listed company incorporated on 26/03/1993 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L74899DL1993PLC052787 and registration number is 052787. Currently company belongs to the Industry of Beverages & Distilleries. Company’s Total Operating Revenue is Rs. 204.21 Cr. and Equity Capital is Rs. 34.99 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Beverages & Distilleries1-A, Zee Plaza, Arjun Nagar, New Delhi Delhi 110029compliance@somindia.com
http://www.somindia.com
Management
NamePosition Held
Mr. Jagdish Kumar AroraChairman & Managing Director
Mr. Nakul Kam SethiWhole Time Director
Mr. Satpal Kumar AroraInd. Non-Executive Director
Mr. Deenanath SinghInd. Non-Executive Director
Mr. Uma Kant SamalInd. Non-Executive Director
Ms. Nishi AroraInd. Non-Executive Woman Director

FAQ

What is the latest fair value of Som Distilleries & Breweries Ltd?

The latest fair value of Som Distilleries & Breweries Ltd is ₹149.80.

What is the Market Cap of Som Distilleries & Breweries Ltd?

The Market Cap of Som Distilleries & Breweries Ltd is 2,415 Cr..

What is the current Stock Price of Som Distilleries & Breweries Ltd as on 21 June 2024?

The current stock price of Som Distilleries & Breweries Ltd as on 21 June 2024 is ₹125.

What is the High / Low of Som Distilleries & Breweries Ltd stocks in FY 2024?

In FY 2024, the High / Low of Som Distilleries & Breweries Ltd stocks is 156/84.5.

What is the Stock P/E of Som Distilleries & Breweries Ltd?

The Stock P/E of Som Distilleries & Breweries Ltd is 27.9.

What is the Book Value of Som Distilleries & Breweries Ltd?

The Book Value of Som Distilleries & Breweries Ltd is 29.0.

What is the Dividend Yield of Som Distilleries & Breweries Ltd?

The Dividend Yield of Som Distilleries & Breweries Ltd is 0.08 %.

What is the ROCE of Som Distilleries & Breweries Ltd?

The ROCE of Som Distilleries & Breweries Ltd is 19.4 %.

What is the ROE of Som Distilleries & Breweries Ltd?

The ROE of Som Distilleries & Breweries Ltd is 18.5 %.

What is the Face Value of Som Distilleries & Breweries Ltd?

The Face Value of Som Distilleries & Breweries 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 Som Distilleries & Breweries 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