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BSE: 533164 | NSE: TEXMOPIPES | Plastic Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Texmo Pipes And Products Ltd is a average quality company.
The key valuation ratios of Texmo Pipes And Products Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Texmo Pipes And Products Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 5.4% | 7.1% | 7% | 3.7% | 3.4% | 4.8% | 6.1% | 8.9% | 10.2% | 9.1% | - |
| Value Creation Index ⓘ | -0.6 | -0.5 | -0.5 | -0.7 | -0.8 | -0.7 | -0.6 | -0.4 | -0.3 | -0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 179 | 244 | 258 | 260 | 245 | 310 | 328 | 422 | 564 | 638 | 616 |
| Sales YoY Gr. | - | 36.7% | 5.7% | 0.9% | -5.6% | 26.2% | 5.8% | 28.6% | 33.9% | 13.1% | - |
| Adj EPS ⓘ | 0.8 | 1.4 | 1.5 | -0.5 | 0.1 | 1.2 | 1.9 | 3.9 | 5 | 3.4 | 3 |
| YoY Gr. | - | 73.8% | 5% | -135.6% | NA | 1050% | 65.2% | 102.6% | 29.9% | -32.8% | - |
| BVPS (₹) ⓘ | 49.3 | 50.7 | 52.3 | 33.1 | 32.4 | 33.1 | 34.8 | 36.6 | 41.6 | 42.1 | 46 |
| Adj Net Profit ⓘ | 1.9 | 3.3 | 3.5 | -1.3 | 0.2 | 3 | 5 | 11.3 | 14.6 | 9.8 | 9 |
| Cash Flow from Ops. ⓘ | 8.9 | 21.4 | 12.1 | 8.1 | 23.3 | 17.5 | 17.2 | 30.9 | 38 | 15.3 | - |
| Debt/CF from Ops. ⓘ | 6.6 | 2.5 | 4.9 | 8.2 | 2.6 | 2.9 | 2.9 | 0.9 | 0.7 | 1.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.2% | 21.1% | 24.9% | 13.1% | ||||
| Adj EPS ⓘ | 17.3% | 102% | 20.9% | -32.8% | ||||
| BVPSⓘ | -1.8% | 5.4% | 6.5% | 1.2% | ||||
| Share Price | 27.8% | 33.1% | 42% | 66.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1.6 | 2.8 | 2.8 | -0.9 | 0.2 | 2 | 3.3 | 6.9 | 8.2 | 5.3 | 6.7 |
| Op. Profit Mgn % ⓘ | 9.6 | 8.8 | 8.2 | 5.9 | 4.9 | 5.6 | 6.9 | 6.9 | 6.3 | 6.5 | 7.4 |
| Net Profit Mgn % ⓘ | 1.1 | 1.4 | 1.4 | -0.5 | 0.1 | 1 | 1.5 | 2.7 | 2.6 | 1.5 | 1.4 |
| Debt to Equity ⓘ | 0.5 | 0.5 | 0.5 | 0.8 | 0.7 | 0.6 | 0.6 | 0.3 | 0.2 | 0.2 | - |
| Working Cap Days ⓘ | 269 | 194 | 175 | 193 | 222 | 156 | 148 | 110 | 76 | 72 | 57 |
| Cash Conv. Cycle ⓘ | 109 | 102 | 111 | 124 | 115 | 51 | 54 | 39 | 25 | 29 | 28 |
Sales growth is growing at healthy rate in last 3 years 24.86%
Return on Equity has declined versus last 3 years average to 6.70%
Sales growth is not so good in last 4 quarters at 0.56%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 3 | -21.9 |
| TTM Sales (₹ Cr.) | 616 | 616 |
| BVPS (₹.) ⓘ | 46 | 46 |
| Reserves (₹ Cr.) ⓘ | 105 | 105 |
| P/BV ⓘ | 1.79 | 1.79 |
| PE ⓘ | 27.67 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 45.00 / 108.00 |
| All Time Low / High (₹) | 2.70 / 162.80 |
| Market Cap (₹ Cr.) | 240 |
| Equity (₹ Cr.) | 29.2 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 35.7 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 179 | 244 | 258 | 260 | 245 | 310 | 328 | 422 | 564 | 638 |
| Operating Expenses ⓘ | 162 | 222 | 237 | 245 | 234 | 293 | 306 | 393 | 529 | 598 |
| Manufacturing Costs | 12 | 13 | 13 | 12 | 14 | 21 | 21 | 22 | 26 | 31 |
| Material Costs | 128 | 184 | 194 | 200 | 193 | 237 | 248 | 329 | 428 | 492 |
| Employee Cost | 7 | 9 | 11 | 13 | 12 | 15 | 14 | 12 | 15 | 19 |
| Other Costs ⓘ | 14 | 16 | 19 | 19 | 14 | 21 | 23 | 30 | 61 | 56 |
| Operating Profit ⓘ | 17 | 22 | 21 | 15 | 12 | 17 | 22 | 29 | 35 | 41 |
| Operating Profit Margin (%) | 9.5% | 8.8% | 8.1% | 5.8% | 4.9% | 5.5% | 6.8% | 6.8% | 6.3% | 6.4% |
| Other Income ⓘ | 1 | 1 | 2 | 4 | 4 | 2 | 1 | 1 | 1 | 1 |
| Interest ⓘ | 10 | 13 | 13 | 12 | 10 | 10 | 11 | 10 | 9 | 13 |
| Depreciation ⓘ | 5 | 5 | 6 | 7 | 5 | 6 | 6 | 6 | 8 | 11 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | -1 | 0 | 0 | -12 |
| Profit Before Tax ⓘ | 3 | 5 | 5 | 1 | 1 | 4 | 6 | 14 | 20 | 6 |
| Tax ⓘ | 1 | 2 | 1 | 2 | 1 | 1 | 2 | 3 | 5 | 5 |
| Profit After Tax | 2 | 3 | 4 | -1 | 0 | 3 | 4 | 11 | 15 | 1 |
| PAT Margin (%) | 1.0% | 1.4% | 1.4% | -0.4% | 0.1% | 1.1% | 1.3% | 2.7% | 2.6% | 0.2% |
| Adjusted EPS (₹) | 0.8 | 1.4 | 1.6 | -0.5 | 0.1 | 1.3 | 1.6 | 3.9 | 5.0 | 0.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 118 | 121 | 125 | 143 | 145 | 151 | 156 | 171 | 185 | 187 |
| Share Capital ⓘ | 24 | 24 | 24 | 24 | 25 | 26 | 26 | 29 | 29 | 29 |
| Reserves ⓘ | 94 | 97 | 101 | 119 | 120 | 125 | 129 | 142 | 156 | 158 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 57 | 52 | 57 | 63 | 56 | 49 | 48 | 23 | 19 | 14 |
| Long Term Debt | 7 | 8 | 11 | 15 | 15 | 10 | 7 | 6 | 17 | 13 |
| Short Term Debt | 50 | 44 | 46 | 49 | 42 | 39 | 41 | 17 | 2 | 1 |
| Trade Payables | 28 | 40 | 43 | 49 | 50 | 59 | 47 | 43 | 46 | 48 |
| Others Liabilities ⓘ | 11 | 16 | 17 | 36 | 34 | 35 | 35 | 43 | 56 | 58 |
| Total Liabilities ⓘ | 213 | 228 | 242 | 291 | 285 | 294 | 286 | 280 | 306 | 307 |
Fixed Assets | ||||||||||
| Gross Block | 67 | 70 | 73 | 115 | 119 | 129 | 136 | 139 | 178 | 185 |
| Accumulated Depreciation | 20 | 25 | 30 | 6 | 11 | 16 | 22 | 28 | 36 | 46 |
| Net Fixed Assetsⓘ | 47 | 45 | 43 | 109 | 109 | 113 | 114 | 111 | 142 | 139 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 3 | 46 | 46 | 13 | 12 | 12 | 12 | 12 | 12 | 6 |
| Inventories | 61 | 69 | 75 | 82 | 69 | 64 | 73 | 56 | 64 | 71 |
| Trade Receivables | 21 | 30 | 36 | 46 | 41 | 62 | 44 | 44 | 45 | 56 |
| Cash Equivalents | 6 | 10 | 11 | 10 | 11 | 8 | 9 | 9 | 10 | 9 |
| Others Assetsⓘ | 75 | 28 | 31 | 30 | 39 | 35 | 33 | 48 | 33 | 27 |
| Total Assets ⓘ | 213 | 228 | 242 | 291 | 285 | 294 | 286 | 280 | 306 | 307 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 9 | 21 | 12 | 8 | 23 | 18 | 17 | 31 | 38 | 15 |
| PBT ⓘ | 3 | 5 | 5 | 1 | 1 | 4 | 6 | 14 | 20 | 6 |
| Adjustment ⓘ | 15 | 17 | 17 | 17 | 14 | 14 | 16 | 18 | 22 | 24 |
| Changes in Working Capital ⓘ | -8 | 1 | -8 | -9 | 10 | 0 | -3 | 0 | 1 | -10 |
| Tax Paid ⓘ | 0 | -1 | -2 | -1 | -2 | -1 | -1 | -2 | -6 | -5 |
| Cash Flow From Investing Activity ⓘ | -9 | -3 | -5 | -5 | -9 | -4 | -6 | -4 | -27 | 6 |
| Capex | -7 | -1 | -3 | -10 | -7 | -7 | -6 | -3 | -26 | -7 |
| Net Investments | 1 | -1 | 0 | 2 | 0 | 0 | 0 | 0 | -1 | 6 |
| Others ⓘ | -2 | -1 | -2 | 4 | -1 | 2 | 1 | -1 | 1 | 6 |
| Cash Flow From Financing Activityⓘ | 0 | -17 | -8 | -4 | -14 | -14 | -12 | -27 | -11 | -20 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 3 | 3 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 5 | 1 | 2 | 6 | 0 | -4 | -3 | -1 | 13 | -4 |
| Interest Paid ⓘ | -10 | -13 | -13 | -12 | -10 | -10 | -11 | -9 | -8 | -12 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 5 | -6 | 3 | 2 | -7 | -3 | 2 | -17 | -16 | -5 |
| Net Cash Flow ⓘ | 0 | 1 | -1 | 0 | 1 | -1 | 0 | 0 | 0 | 0 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.56 | 2.77 | 3.05 | -1.11 | 0.36 | 3.98 | 4.85 | 11.33 | 12.81 | 0.92 |
| ROCE (%) | 7.53 | 10.14 | 9.94 | 7.73 | 7.79 | 9.81 | 11.92 | 17.33 | 20.36 | 13.16 |
| Asset Turnover Ratio | 0.98 | 1.21 | 1.19 | 1.07 | 0.88 | 1.25 | 1.32 | 1.75 | 2.36 | 2.44 |
| PAT to CFO Conversion(x) | 4.5 | 7 | 3 | N/A | N/A | 6 | 4.25 | 2.82 | 2.53 | 15 | Working Capital Days |
| Receivable Days | 39 | 35 | 43 | 53 | 63 | 51 | 50 | 33 | 24 | 25 |
| Inventory Days | 99 | 88 | 93 | 100 | 109 | 67 | 65 | 48 | 32 | 33 |
| Payable Days | 39 | 26 | 31 | 35 | 68 | 84 | 78 | 50 | 38 | 35 |
Texmo Pipes and Products, a public limited company incorporated on July 3, 2008 by conversion of Shree Mohit Industries that was a fast emerging and spearheading industry an associate of Shree Balaji Industries, was established in 1988 at Burhanpur (Madhya Pradesh). The company is equipped with professionally managed team of skilled operators, efficient technocrats and dynamic marketing personnel’s.
The company's image has been developed in the market due to its highest quality products through process excellence by promoting efficiencies, productivity and professionalism with the result its brand Texmo has spread in the heart of millions of widespread clientele, government, semi government organizations and private sectors with in the country and abroad.
Shree Mohit Industries started its operations in the financial year 1999-2000 with manufacturing of PVC pipes having total installed capacity of 2928 MTPA. During 2000- 01, the erstwhile firm started manufacturing HDPE pipes and increased its installed capacity from 2928 mtpa to 4392 mtpa. The new products introduced by the erstwhile firm were plumbing pipe, conduit pipe and PLB HDPE cable duct. Subsequently in the year 2003, the erstwhile firm started manufacturing suction and delivery hose pipe, elastomeric sealing ringfit PVC pipe (gasket pipe), SWR pipe, column pipe, HDPE plain pipe, sprinkler pipe and drip irrigation system. The installed capacity with this expansion was increased to 4137 mtpa and 2228 mtpa for PVC and HDPE pipes respectively, which was further increased to 5933.20 mtpa and 4435.20 mtpa respectively during 2005-06. The company has increased the installed capacity of PVC pipes to 6797.20 mtpa during 2006-07 and 7217 mtpa for HDPE pipes during 2007-08. The total installed capacity as approved by District Trade and Industries Centre, Burhanpur, Government of Madhya Pradesh is 44,000 mtpa.
Presently, it is engaged into manufacturing of range of PVC and HDPE pipes viz. suction and delivery hose pipe, rigid PVC pipes, elastomeric sealing ringfit PVC pipe (gasket pipe), PVC casing and ribbed screen casing pipes, SWR pipe, plumbing pipe, conduit pipe, caping casing strips, column pipe, HDPE plain pipe, sprinkler pipe, PLB HDPE cable duct and drip irrigation system. It carries out its manufacturing activities at two units. The pipes manufactured by the company suits the requirements of application in irrigation, agriculture, potable water supply schemes, sewerage and drainage systems, construction industry, telecom industry, and bore / tube well for underground water suction. The PVC pipes for potable water supplies have measurement ranging from 20 mm diameter to 315 mm diameters and HDPE pipes have measurement ranging from 20 mm to 630 mm diameter. The company has marketing presence in the states of Madhya Pradesh, Maharashtra, Uttar Pradesh, Gujarat, Andhra Pradesh and Rajasthan.
Shree Mohit Industries was accredited with ISO-9001:2000 certification in respect of its quality management systems from SGS United Kingdom in the year 2002. The erstwhile firm had also got permission by The Bureau of Indian Standard (BIS) to use the standard mark “ISI†for PVC pipes used in potable water supplies. In the year 2001 Bharat Sanchar Nigam, Bangalore, granted the erstwhile firm Technical Specification Evaluation Certificate (earlier termed as Type Approval Certificate) in respect of manufacturing and trading of permanently lubricated HDPE telecom ducts and in 2005, Maharashtra Jeevan Pradhikaran enlisted the firm as an approved manufacturer and supplier of specified PVC pipes. In the year 2006, the government of Maharashtra also enlisted the erstwhile firm for supply of specified pipes for Jalswarajya Project. In the year 2007, Gujarat Water Supply and Sewerage Board approved the company as the approved manufacturer (vendor) for supply of PVC casing and ribbed screen casing pipes.
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Awards / Recognition
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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