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BSE: 538795 | NSE: | Paper & Paper Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Shree Ajit Pulp & Paper Ltd is a average quality company.
The key valuation ratios of Shree Ajit Pulp & Paper 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 Shree Ajit Pulp & Paper 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 % ⓘ | 14.6% | 9.5% | 13.4% | 7.4% | 8.7% | 17.1% | 13.7% | 14.9% | 13.1% | 5.1% | - |
| Value Creation Index ⓘ | 0.0 | -0.3 | 0.0 | -0.5 | -0.4 | 0.2 | 0.0 | 0.1 | -0.1 | -0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 190 | 189 | 222 | 209 | 249 | 270 | 240 | 267 | 418 | 372 | 263 |
| Sales YoY Gr. | - | -0.5% | 17.7% | -6.1% | 19.5% | 8.2% | -10.9% | 10.9% | 56.9% | -11.1% | - |
| Adj EPS ⓘ | 15.6 | 9 | 15.4 | 8.1 | 10.9 | 29.2 | 24.9 | 31.2 | 31.6 | 14 | 7.3 |
| YoY Gr. | - | -41.9% | 70.2% | -47.7% | 35.4% | 167.4% | -14.6% | 25.3% | 1.4% | -55.6% | - |
| BVPS (₹) ⓘ | 87.2 | 95.5 | 110.1 | 118.2 | 128.1 | 156.7 | 180.8 | 211.4 | 242.4 | 256 | 264.2 |
| Adj Net Profit ⓘ | 12.3 | 7.2 | 12.2 | 6.4 | 8.6 | 23.1 | 19.7 | 24.7 | 25 | 11.1 | 7 |
| Cash Flow from Ops. ⓘ | 17 | 15 | 16.5 | 14.3 | 17.7 | 44.9 | 32.1 | 25.2 | -7.3 | 21 | - |
| Debt/CF from Ops. ⓘ | 2.2 | 2.3 | 1.6 | 3.1 | 2.9 | 0.8 | 0.9 | 1 | -6.3 | 8.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 7.8% | 8.3% | 15.7% | -11.1% | ||||
| Adj EPS ⓘ | -1.1% | 5.2% | -17.4% | -55.6% | ||||
| BVPSⓘ | 12.7% | 14.9% | 12.3% | 5.6% | ||||
| Share Price | 21.3% | 7.3% | 8.9% | 14% | ||||
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 % ⓘ | 19.5 | 9.9 | 15 | 7.1 | 8.9 | 20.5 | 14.8 | 15.9 | 13.9 | 5.6 | 2.8 |
| Op. Profit Mgn % ⓘ | 13.5 | 10.3 | 12.3 | 8.9 | 9.8 | 16.5 | 14.3 | 17 | 11 | 7.9 | 7.7 |
| Net Profit Mgn % ⓘ | 6.5 | 3.8 | 5.5 | 3.1 | 3.5 | 8.6 | 8.2 | 9.3 | 6 | 3 | 2.5 |
| Debt to Equity ⓘ | 0.6 | 0.5 | 0.3 | 0.5 | 0.5 | 0.3 | 0.2 | 0.2 | 0.2 | 0.8 | - |
| Working Cap Days ⓘ | 101 | 98 | 96 | 120 | 110 | 99 | 100 | 109 | 111 | 158 | 76 |
| Cash Conv. Cycle ⓘ | 49 | 54 | 51 | 58 | 58 | 54 | 53 | 55 | 57 | 77 | 29 |
Sales growth is growing at healthy rate in last 3 years 15.65%
Return on Equity has declined versus last 3 years average to 2.80%
Net Profit has been subdued in last 3 years -17.37%
Sales growth is not so good in last 4 quarters at -37.76%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 7.3 | 6.5 |
| TTM Sales (₹ Cr.) | 263 | 263 |
| BVPS (₹.) ⓘ | 264.2 | 265.1 |
| Reserves (₹ Cr.) ⓘ | 227 | 228 |
| P/BV ⓘ | 0.76 | 0.76 |
| PE ⓘ | 27.47 | 30.77 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 158.94 / 297.25 |
| All Time Low / High (₹) | 9.67 / 297.25 |
| Market Cap (₹ Cr.) | 179 |
| Equity (₹ Cr.) | 8.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 7.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 190 | 189 | 222 | 209 | 249 | 270 | 240 | 267 | 418 | 372 |
| Operating Expenses ⓘ | 164 | 169 | 195 | 190 | 225 | 225 | 206 | 221 | 372 | 343 |
| Manufacturing Costs | 32 | 34 | 36 | 34 | 40 | 46 | 48 | 43 | 71 | 73 |
| Material Costs | 119 | 122 | 141 | 135 | 162 | 151 | 125 | 147 | 261 | 235 |
| Employee Cost | 8 | 9 | 12 | 12 | 14 | 16 | 17 | 17 | 19 | 16 |
| Other Costs ⓘ | 5 | 5 | 7 | 9 | 10 | 13 | 15 | 14 | 21 | 18 |
| Operating Profit ⓘ | 25 | 19 | 27 | 19 | 24 | 44 | 34 | 45 | 46 | 29 |
| Operating Profit Margin (%) | 13.4% | 10.3% | 12.2% | 8.9% | 9.8% | 16.5% | 14.3% | 17.0% | 11.0% | 7.8% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 |
| Interest ⓘ | 3 | 4 | 4 | 4 | 6 | 5 | 4 | 4 | 5 | 6 |
| Depreciation ⓘ | 5 | 5 | 5 | 5 | 6 | 7 | 8 | 8 | 7 | 7 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 18 | 10 | 18 | 9 | 12 | 33 | 23 | 35 | 35 | 16 |
| Tax ⓘ | 6 | 3 | 6 | 3 | 4 | 9 | 3 | 10 | 10 | 5 |
| Profit After Tax | 12 | 7 | 12 | 6 | 8 | 23 | 20 | 25 | 25 | 11 |
| PAT Margin (%) | 6.4% | 3.8% | 5.4% | 3.1% | 3.3% | 8.6% | 8.2% | 9.2% | 6.0% | 3.0% |
| Adjusted EPS (₹) | 15.4 | 9.0 | 15.3 | 8.1 | 10.4 | 29.2 | 24.8 | 31.1 | 31.6 | 14.3 |
| Dividend Payout Ratio (%) | 2% | 4% | 3% | 6% | 5% | 2% | 2% | 2% | 2% | 5% |
| 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 | 69 | 76 | 87 | 94 | 101 | 124 | 143 | 167 | 192 | 203 |
| Share Capital ⓘ | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves ⓘ | 64 | 70 | 82 | 88 | 96 | 119 | 138 | 162 | 187 | 197 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 31 | 29 | 20 | 38 | 44 | 29 | 25 | 17 | 39 | 157 |
| Long Term Debt | 13 | 9 | 10 | 15 | 21 | 20 | 21 | 12 | 6 | 139 |
| Short Term Debt | 17 | 19 | 10 | 23 | 23 | 9 | 5 | 5 | 33 | 18 |
| Trade Payables | 10 | 12 | 14 | 17 | 15 | 17 | 15 | 23 | 23 | 21 |
| Others Liabilities ⓘ | 32 | 31 | 36 | 31 | 35 | 42 | 32 | 55 | 59 | 75 |
| Total Liabilities ⓘ | 141 | 148 | 157 | 179 | 196 | 211 | 215 | 263 | 313 | 456 |
Fixed Assets | ||||||||||
| Gross Block | 106 | 114 | 116 | 94 | 123 | 145 | 160 | 162 | 169 | 189 |
| Accumulated Depreciation | 23 | 28 | 34 | 5 | 12 | 19 | 26 | 34 | 41 | 49 |
| Net Fixed Assetsⓘ | 83 | 85 | 82 | 89 | 111 | 127 | 134 | 129 | 128 | 140 |
| CWIP ⓘ | 3 | 1 | 1 | 6 | 2 | 3 | 3 | 1 | 3 | 139 |
| Investmentsⓘ | 3 | 4 | 5 | 6 | 6 | 9 | 9 | 9 | 9 | 9 |
| Inventories | 14 | 20 | 16 | 21 | 22 | 23 | 18 | 31 | 52 | 54 |
| Trade Receivables | 26 | 25 | 37 | 32 | 41 | 31 | 34 | 42 | 56 | 41 |
| Cash Equivalents | 1 | 1 | 1 | 1 | 1 | 1 | 9 | 25 | 18 | 2 |
| Others Assetsⓘ | 11 | 12 | 15 | 25 | 12 | 17 | 8 | 26 | 47 | 70 |
| Total Assets ⓘ | 141 | 148 | 157 | 179 | 196 | 211 | 215 | 263 | 313 | 456 |
| 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 ⓘ | 17 | 15 | 16 | 14 | 18 | 45 | 32 | 25 | -7 | 21 |
| PBT ⓘ | 18 | 10 | 18 | 9 | 12 | 33 | 23 | 35 | 35 | 16 |
| Adjustment ⓘ | 8 | 10 | 9 | 10 | 12 | 12 | 12 | 11 | 11 | 14 |
| Changes in Working Capital ⓘ | -5 | -1 | -7 | -2 | -4 | 9 | 2 | -11 | -43 | -4 |
| Tax Paid ⓘ | -4 | -3 | -4 | -3 | -2 | -9 | -5 | -9 | -10 | -5 |
| Cash Flow From Investing Activity ⓘ | -17 | -7 | -4 | -27 | -18 | -24 | -14 | 0 | -15 | -146 |
| Capex | -16 | -6 | -3 | -27 | -18 | -22 | -14 | 0 | -16 | -162 |
| Net Investments | -1 | -1 | -1 | -1 | 0 | -2 | 0 | 0 | 0 | 16 |
| Others ⓘ | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Cash Flow From Financing Activityⓘ | 0 | -8 | -12 | 13 | 1 | -21 | -10 | -10 | 16 | 110 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -2 | -6 | 2 | 5 | 7 | -1 | -2 | -6 | -7 | 139 |
| Interest Paid ⓘ | -3 | -4 | -4 | -4 | -6 | -5 | -4 | -4 | -5 | -13 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 |
| Others ⓘ | 5 | 2 | -10 | 13 | 0 | -14 | -4 | 0 | 28 | -15 |
| Net Cash Flow ⓘ | 0 | -1 | 0 | 0 | 0 | 0 | 8 | 15 | -7 | -15 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 19.3 | 9.85 | 14.86 | 7.08 | 8.46 | 20.51 | 14.7 | 15.87 | 13.94 | 5.72 |
| ROCE (%) | 21.16 | 13.26 | 19.69 | 10.49 | 12.09 | 24.2 | 16.5 | 21.02 | 18.43 | 7.33 |
| Asset Turnover Ratio | 1.47 | 1.39 | 1.55 | 1.32 | 1.35 | 1.33 | 1.13 | 1.12 | 1.45 | 0.97 |
| PAT to CFO Conversion(x) | 1.42 | 2.14 | 1.33 | 2.33 | 2.25 | 1.96 | 1.6 | 1 | -0.28 | 1.91 | Working Capital Days |
| Receivable Days | 44 | 46 | 48 | 56 | 52 | 49 | 49 | 52 | 43 | 48 |
| Inventory Days | 26 | 31 | 28 | 31 | 31 | 31 | 31 | 34 | 37 | 52 |
| Payable Days | 30 | 33 | 35 | 42 | 36 | 39 | 45 | 46 | 32 | 35 |
Shree Ajit Pulp and Paper was incorporated as Pvt. Ltd. Co. on march 23, 1995 and then was converted into Public Limited Co. on November 13,1995. The Company came out with the Public Issue of Equity Shares worth Rs. 315/- Lacs in the month of October 1996 and at present is listed on regional stock exchange at Vadodara and at additional Stock Exchange at Ahmedabad.
Higher capacity utilisation by the company has lead it on the growth track, the cost reduction and cost controls techniques resulted in improved bottom lines of the company. Modernization of the existing production facility and additions of the capacity are projected as next path of success.
They seek to achieve, maintain and improve continuously the quality of their products in relationship to the requirements for Quality. Improve the Quality of their own operations, so as to meet continuously all customers' stated and implied needs. Emphasize on quality improvement as a part of everyone's job, either by teamwork or individual activities. Taking actions to improve effectiveness and efficiency of activities and processes to provide added benefits to the customers and in turn to the organisation.
Product range of the company includes:
It caters to its customers in the different varieties of Kraft Paper of 120-220 GSM and Bursting Factor (BF) ranging from 16 to 28. It has already developed 35 BF paper in 80 GSM and Golden Yellow paper ranging from 20 BF to 28 BF.
The product is in reels form and is used for making Corrugated Boxes, Liners, Textile Tubes, Duplex Cartons etc. the main consumption is thus in packaging.
The USP of the company’s product is the consistent quality. It has established itself as a cost effective quality supplier, and they believe however that future competition would be on the basis of Customer service.
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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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