Zodiac Clothing Company Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:35 am

Market Cap	352 Cr.
Current Price	135
High / Low	177/100
Stock P/E
Book Value	85.6
Dividend Yield	0.00 %
ROCE	8.22 %
ROE	13.6 %
Face Value	10.0
PEG Ratio	0.00

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Haria Exports Ltd	7.18 Cr.	6.22	9.36/3.87	65.3	12.2	0.00 %	0.64 %	0.64 %	10.0
Haria Apparels Ltd	8.23 Cr.	5.38	6.80/4.37	15.0	3.62	0.00 %	18.6 %	18.2 %	10.0
Garment Mantra Lifestyle Ltd	50.8 Cr.	2.53	4.61/2.20	16.7	1.92	0.00 %	7.86 %	6.85 %	1.00
Cityman Ltd	32.2 Cr.	27.5	27.5/14.4		5.49	0.00 %	4.69 %	%	10.0
Bindal Exports Ltd	11.9 Cr.	25.8	25.8/16.1	28.3	22.1	0.00 %	6.61 %	2.96 %	10.0
Industry Average	5,399.95 Cr	1,855.49		56.94	138.56	0.15%	12.29%	14.34%	7.13

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	19.33	29.88	38.62	38.82	40.60	46.05	46.07	42.09	32.98	32.25	36.51	44.06	37.87
Expenses	26.09	35.46	40.86	42.67	42.74	45.96	47.56	46.05	38.71	35.81	40.02	50.64	47.08
Operating Profit	-6.76	-5.58	-2.24	-3.85	-2.14	0.09	-1.49	-3.96	-5.73	-3.56	-3.51	-6.58	-9.21
OPM %	-34.97%	-18.67%	-5.80%	-9.92%	-5.27%	0.20%	-3.23%	-9.41%	-17.37%	-11.04%	-9.61%	-14.93%	-24.32%
Other Income	5.57	3.73	14.14	3.27	1.88	1.76	0.96	43.01	1.96	-0.31	7.34	-0.11	6.32
Interest	1.64	1.61	1.56	1.36	1.68	1.77	1.84	1.54	1.45	1.78	1.67	1.85	1.89
Depreciation	4.95	4.72	4.53	4.37	4.51	4.45	4.42	4.32	4.16	5.04	4.78	5.05	5.06
Profit before tax	-7.78	-8.18	5.81	-6.31	-6.45	-4.37	-6.79	33.19	-9.38	-10.69	-2.62	-13.59	-9.84
Tax %	0.39%	-2.44%	-3.10%	4.12%	5.27%	-19.22%	4.12%	-0.54%	-2.35%	2.25%	3.82%	-0.15%	-0.81%
Net Profit	-7.81	-7.98	5.99	-6.57	-6.79	-3.53	-7.07	33.37	-9.16	-10.93	-2.72	-13.57	-9.77
EPS in Rs	-3.15	-3.22	2.42	-2.65	-2.74	-1.43	-2.86	12.84	-3.52	-4.20	-1.05	-5.22	-3.76

Last Updated: October 7, 2024, 8:50 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	357	405	391	349	280	238	216	191	100	127	175	146	151
Expenses	326	363	369	344	289	260	227	182	122	143	180	165	174
Operating Profit	31	42	22	5	-8	-22	-11	9	-22	-17	-5	-19	-23
OPM %	9%	10%	6%	2%	-3%	-9%	-5%	5%	-22%	-13%	-3%	-13%	-15%
Other Income	3	3	6	3	21	11	3	12	25	26	46	9	13
Interest	4	5	5	5	5	5	6	15	10	7	8	7	7
Depreciation	10	10	10	11	12	11	11	35	23	19	18	19	20
Profit before tax	20	31	13	-8	-4	-26	-25	-30	-30	-16	16	-36	-37
Tax %	30%	28%	29%	-2%	3%	-10%	7%	-4%	-1%	-1%	-3%	0%
Net Profit	14	22	9	-8	-4	-23	-27	-29	-29	-16	16	-36	-37
EPS in Rs	7.23	11.35	4.62	-4.21	-2.24	-12.03	-12.58	-12.89	-11.87	-6.61	6.15	-13.99	-14.23
Dividend Payout %	48%	40%	67%	-24%	-45%	-8%	-8%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	57.14%	-59.09%	-188.89%	50.00%	-475.00%	-17.39%	-7.41%	0.00%	44.83%	200.00%	-325.00%
Change in YoY Net Profit Growth (%)	0.00%	-116.23%	-129.80%	238.89%	-525.00%	457.61%	9.98%	7.41%	44.83%	155.17%	-525.00%

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:	-10%
5 Years:	-8%
3 Years:	13%
TTM:	5%

Compounded Profit Growth
10 Years:	%
5 Years:	-15%
3 Years:	-11%
TTM:	-22%

Stock Price CAGR
10 Years:	-10%
5 Years:	-5%
3 Years:	8%
1 Year:	5%

Return on Equity
10 Years:	-7%
5 Years:	-10%
3 Years:	-9%
Last Year:	-14%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 2:26 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	19	19	20	20	20	20	21	22	25	25	26	26	26
Reserves	223	241	248	243	280	268	283	237	231	222	253	220	197
Borrowings	55	50	58	72	59	67	64	142	90	73	64	86	85
Other Liabilities	62	79	71	62	52	56	41	39	34	39	33	46	51
Total Liabilities	359	389	396	396	410	411	409	440	380	359	376	378	358
Fixed Assets	120	123	131	142	142	135	128	193	151	125	116	139	134
CWIP	2	4	6	5	3	3	3	2	1	3	3	6	7
Investments	46	50	48	64	72	56	54	28	36	51	84	65	48
Other Assets	191	212	210	184	193	217	224	217	191	181	174	168	169
Total Assets	359	389	396	396	410	411	409	440	380	359	376	378	358

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	28	39	14	19	3	-37	-25	11	-9	-5	1	-5
Cash from Investing Activity +	-20	-18	-16	-38	16	34	-10	33	8	7	16	17
Cash from Financing Activity +	-10	-10	-1	7	-17	1	35	-36	-2	-10	-15	-15
Net Cash Flow	-2	11	-3	-12	2	-1	-1	7	-2	-8	2	-3

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-24.00	-8.00	-36.00	-67.00	-67.00	-89.00	-75.00	-133.00	-112.00	-90.00	-69.00	-105.00

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

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	40	38	40	32	29	45	39	33	65	62	52	53
Inventory Days	171	157	169	185	221	291	428	471	648	456	273	353
Days Payable	75	83	78	78	92	136	108	120	196	187	107	202
Cash Conversion Cycle	136	112	131	140	159	200	359	384	517	331	217	204
Working Capital Days	89	71	81	81	123	169	208	229	370	237	175	177
ROCE %	8%	11%	5%	-1%	-2%	-6%	-4%	-4%	-5%	-3%	-4%	-8%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	69.98%	69.98%	69.98%	69.97%	69.97%	71.40%	71.40%	71.40%	71.40%	71.40%	71.40%	71.40%
FIIs	0.03%	0.00%	0.00%	0.00%	0.01%	0.00%	0.04%	0.00%	0.00%	0.01%	0.02%	0.00%
Public	29.99%	30.02%	30.02%	30.02%	30.01%	28.58%	28.55%	28.59%	28.60%	28.59%	28.57%	28.60%
No. of Shareholders	8,911	8,901	8,989	9,334	9,097	8,801	8,794	9,765	10,386	10,379	11,338	11,155

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	-13.99	6.42	-6.61	-13.04	-13.10
Diluted EPS (Rs.)	-13.99	6.42	-6.61	-13.04	-13.10
Cash EPS (Rs.)	-6.67	12.96	0.89	-2.42	2.89
Book Value[Excl.RevalReserv]/Share (Rs.)	94.67	107.40	99.49	103.44	115.27
Book Value[Incl.RevalReserv]/Share (Rs.)	94.67	107.40	99.49	103.44	115.27
Revenue From Operations / Share (Rs.)	56.09	67.25	51.15	40.43	84.89
PBDIT / Share (Rs.)	-4.04	0.42	3.34	1.07	8.57
PBIT / Share (Rs.)	-11.36	-6.39	-4.16	-8.37	-7.20
PBT / Share (Rs.)	-13.96	5.99	-6.65	-12.02	-13.37
Net Profit / Share (Rs.)	-13.99	6.15	-6.61	-11.87	-12.89
NP After MI And SOA / Share (Rs.)	-13.99	6.15	-6.61	-11.87	-12.89
PBDIT Margin (%)	-7.20	0.62	6.53	2.65	10.09
PBIT Margin (%)	-20.25	-9.50	-8.12	-20.70	-8.48
PBT Margin (%)	-24.88	8.91	-12.99	-29.73	-15.74
Net Profit Margin (%)	-24.94	9.14	-12.92	-29.35	-15.17
NP After MI And SOA Margin (%)	-24.94	9.14	-12.92	-29.35	-15.17
Return on Networth / Equity (%)	-14.78	5.72	-6.64	-11.47	-11.17
Return on Capital Employeed (%)	-10.31	-5.44	-3.75	-6.88	-4.78
Return On Assets (%)	-9.51	4.19	-4.51	-7.63	-6.48
Long Term Debt / Equity (X)	0.00	0.01	0.02	0.03	0.06
Total Debt / Equity (X)	0.16	0.13	0.19	0.17	0.23
Asset Turnover Ratio (%)	0.38	0.47	0.35	0.25	0.46
Current Ratio (X)	1.49	2.06	1.49	1.89	1.69
Quick Ratio (X)	0.87	1.28	0.70	0.97	0.87
Inventory Turnover Ratio (X)	1.02	0.99	0.68	0.40	0.78
Dividend Payout Ratio (NP) (%)	0.00	0.00	0.00	0.00	-7.35
Dividend Payout Ratio (CP) (%)	0.00	0.00	0.00	0.00	32.79
Earning Retention Ratio (%)	0.00	0.00	0.00	0.00	107.35
Cash Earning Retention Ratio (%)	0.00	0.00	0.00	0.00	67.21
Interest Coverage Ratio (X)	-1.56	0.16	1.34	0.29	1.39
Interest Coverage Ratio (Post Tax) (X)	-4.39	-2.37	-1.65	-2.25	-1.09
Enterprise Value (Cr.)	310.51	237.25	286.60	255.70	263.57
EV / Net Operating Revenue (X)	2.13	1.36	2.26	2.55	1.38
EV / EBITDA (X)	-29.55	216.76	34.62	96.14	13.68
MarketCap / Net Operating Revenue (X)	1.90	1.21	1.96	2.29	1.18
Retention Ratios (%)	0.00	0.00	0.00	0.00	107.35
Price / BV (X)	1.13	0.75	1.01	0.89	0.87
Price / Net Operating Revenue (X)	1.90	1.21	1.96	2.29	1.18
EarningsYield	-0.13	0.07	-0.06	-0.12	-0.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 178.12

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 December 22, 2024, is Undervalued by 31.94% compared to the current share price 135.00

Default values used*: Default value of 15 for Stock P/E is used

Intrinsic Value of as of December 22, 2024 is: 139.78

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 December 22, 2024, is Undervalued by 3.54% compared to the current share price 135.00

Default values used*: Default value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: -21.52%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (242.00 cr) compared to borrowings (74.23 cr), indicating strong financial stability.	The stock has a low average ROCE of -1.08%, which may not be favorable. The stock has a high average Working Capital Days of 167.50, which may not be favorable. The stock has a high average Cash Conversion Cycle of 240.83, which may not be favorable. The company has not shown consistent growth in sales (240.46) and profit (-10.15).

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 :
1. Net Profit Margin: -24.94%
  - 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: -10.31% (Industry Average ROCE: 12.29%)
  - 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%: -14.78% (Industry Average ROE: 14.34%)
  - 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): -4.39
  - 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: 0 (Industry average Stock P/E: 56.94)
  - 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: 0.16
  - 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

Zodiac Clothing Company Ltd. is a Public Limited Listed company incorporated on 14/06/1984 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L17100MH1984PLC033143 and registration number is 033143. Currently Company is involved in the business activities of Manufacture of all types of textile garments and clothing accessories. Company’s Total Operating Revenue is Rs. 128.24 Cr. and Equity Capital is Rs. 24.76 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Textiles - Readymade Apparels	Nyloc House, 254, D-2, Dr. Annie Besant Road, Mumbai Maharashtra 400030	contactus@zodiacmtc.com http://www.zodiaconline.com

Management
Name	Position Held
Mr. A Y Noorani	Chairman
Mr. S Y Noorani	Vice Chairman & Mng.Director
Mr. V M Apte	Director
Mr. S R Iyer	Director
Mr. Y P Trivedi	Director
Dr. Naushad Forbes	Director
Mr. Bernhard Steinruecke	Director
Ms. Elizabeth Jane Hulse	Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹178.12, which is 31.94% higher than the current market price of ₹135.00. The stock has a market capitalization of 352 Cr. and recorded a high/low of 177/100 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹197 Cr and total liabilities of ₹358 Cr.

What is the Market Cap of ?

The Market Cap of is 352 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 135.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 177/100.

What is the Stock P/E of ?

The Stock P/E of is .

What is the Book Value of ?

The Book Value of is 85.6.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 8.22 %.

What is the ROE of ?

The ROE of is 13.6 %.

What is the Face Value of ?

The Face Value of is 10.0.