Patanjali Foods Ltd - Stock Valuation and Financial Performance

BSE: 500368 | NSE: PATANJALI | Edible Oil | Mid Cap

Patanjali Foods Share Price

1,335.85 -24.65 -1.81%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Patanjali Foods

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Patanjali Foods stock performance -

mw4me loader
P/E Ratio (SA):
59.87
Market Cap:
49,249.4 Cr.
52-wk low:
870
52-wk high:
1,741

Is Patanjali Foods Ltd an attractive stock to invest in?

1. Is Patanjali Foods Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Patanjali Foods Ltd is a average quality company.

2. Is Patanjali Foods Ltd undervalued or overvalued?

The key valuation ratios of Patanjali Foods Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Patanjali Foods Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Patanjali Foods Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Patanjali Foods:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Patanjali Foods Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 9.6%6.3%-2.2%-9%-111%3%48.9%12.6%11.8%10%-
Value Creation
Index
-0.3-0.6-1.2-1.6NA-0.82.50.10.1-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 24,38128,30827,69218,52711,99412,72913,11816,31924,20531,52531,373
Sales YoY Gr.-16.1%-2.2%-33.1%-35.3%6.1%3.1%24.4%48.3%30.2%-
Adj EPS 7-0.5-32.3-38-169.82.783.522.526.524.622.7
YoY Gr.--107.4%NANANANA3017.2%-73.1%17.8%-7.1%-
BVPS (₹) 69.765.875.731.3-139.3-137.2114137.4165272.1287.9
Adj Net
Profit
235-17.2-1,054-1,240-5,54387.52,471665783891822
Cash Flow from Ops. 3,451-508-90.3577882240-60.9241724-339-
Debt/CF from Ops. 0.9-7.2-58.198.233-59.415.25.1-4.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 2.9%21.3%34%30.2%
Adj EPS 15%NA-33.5%-7.1%
BVPS16.3%NA33.7%64.9%
Share Price 46.9% 190.5% 27.3% 51.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
10-0.8-45.1-70.9314.5-1.9-446.317.915.311.18.1
Op. Profit
Mgn %
3.62.10.3-3.6-41.71.1-40.55.96.24.23.9
Net Profit
Mgn %
1-0.1-3.8-6.7-46.20.718.84.13.22.82.6
Debt to
Equity
1.31.72.15.1-1.6-1.81.10.90.80.2-
Working Cap
Days
130126139177146626364596547
Cash Conv.
Cycle
36323431-8-33940374128

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 33.95%

Debt to equity has declined versus last 3 years average to 0.15

Return on Equity has declined versus last 3 years average to 8.10%

Sales growth is not so good in last 4 quarters at 4.38%

Latest Financials - Patanjali Foods Ltd.

Standalone Consolidated
TTM EPS (₹) 22.7 -0.3
TTM Sales (₹ Cr.) 31,373 12,729
BVPS (₹.) 287.9 0
Reserves (₹ Cr.) 10,349 -4,769
P/BV 4.73 0.00
PE 59.87 0.00
From the Market
52 Week Low / High (₹) 870.00 / 1741.00
All Time Low / High (₹) 2.62 / 1741.00
Market Cap (₹ Cr.) 49,249
Equity (₹ Cr.) 72.4
Face Value (₹) 2
Industry PE 74.1

Management X-Ray of Patanjali Foods:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Patanjali Foods

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales24,38128,30827,69218,52711,99412,72913,11816,31924,20531,525
Operating Expenses 23,82127,72627,61519,26417,04312,60718,45015,36322,71530,238
Manufacturing Costs1,0681,2061,1348538388958898711,2481,713
Material Costs21,38525,29824,96116,01410,17910,94311,12313,70520,53927,147
Employee Cost 177201210187157151153140186278
Other Costs 1,1901,0201,3102,2115,8696176,2866477431,100
Operating Profit 56058278-737-5,048122-5,3329561,4911,286
Operating Profit Margin (%) 2.3%2.1%0.3%-4.0%-42.1%1.0%-40.7%5.9%6.2%4.1%
Other Income 22010411393351005,7916479297
Interest 5775221,2978758577113373359245
Depreciation 164148160156140138136133137160
Exceptional Items 1165245007,448000
Profit Before Tax 5081-1,264-1,630-6,010777,6585141,0741,179
Tax 3620-203-373-4370-14-166268293
Profit After Tax 1361-1,062-1,257-5,573777,672681806886
PAT Margin (%) 0.1%0.2%-3.8%-6.8%-46.5%0.6%58.5%4.2%3.3%2.8%
Adjusted EPS (₹)0.41.8-32.5-38.5-170.02.4259.423.027.324.5
Dividend Payout Ratio (%)40%9%0%0%0%0%0%0%18%25%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 2,3372,2072,4721,023-4,549-4,4783,3714,0624,8819,847
Share Capital 69696565656559595972
Reserves 2,2692,1382,407957-4,614-4,5433,3124,0034,8229,774
Minority Interest0000000000
Debt2,5683,2484,4784,6176,6507,2963,5843,4943,5041,454
Long Term Debt1,048700626158162,9542,8802,70678
Short Term Debt1,5202,5484,4164,5566,5927,2806306147981,376
Trade Payables5,4596,1765,9845,1812,9082,2351656578981,338
Others Liabilities 1,9462,2323,5182,4362,7122,8847486292,158552
Total Liabilities 12,31013,86316,45213,2567,7217,9377,8688,84211,44113,190

Fixed Assets

Gross Block3,6923,8775,9966,0176,0086,0085,9986,0136,0926,494
Accumulated Depreciation1,1961,4963595156507849281,0591,1921,343
Net Fixed Assets2,4962,3815,6375,5025,3585,2245,0704,9544,9005,151
CWIP 1431004229282725272880
Investments 33428214689513120304238
Inventories3,4463,0592,3581,2391,1911,2611,3552,3632,9054,070
Trade Receivables4,5675,9816,3775,0752502622744387961,598
Cash Equivalents 3795241411441764304553872,0161,141
Others Assets9461,5361,7511,1786677026686427531,114
Total Assets 12,31013,86316,45213,2567,7217,9377,8688,84211,44113,190

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 3,451-508-90577882240-61241724-339
PBT 5081-1,264-1,630-6,010777,6585141,0741,179
Adjustment 3452201,4691,8786,183112-7,199467422148
Changes in Working Capital 3084-803-25833970932-516-735-655-1394
Tax Paid -28-6-37-10019-3-5-117-272
Cash Flow From Investing Activity 192325106-70-112-26-42-1,562526
Capex -126-142-51-63-7-19-20-34-93
Net Investments -521180700001-60-697
Others 197477643-73-105-6-22-1,4691,316
Cash Flow From Financing Activity -3,42145377-671-856-782-3071,167241
Net Proceeds from Shares 00000020501,2973,010
Net Proceeds from Borrowing 10-34800002,09746-166-2,729
Interest Paid -531-46282-799-856-7-75-336-299-139
Dividend Paid -11-5-5000000-181
Others -2,8911,269012800-2,144-17335280
Net Cash Flow 49-321212-45121-4-108329428
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)0.572.69-45.46-71.94N/AN/A018.3218.0312.04
ROCE (%)9.410.850.48-10.82N/AN/A149.1212.0616.2913.45
Asset Turnover Ratio1.832.171.831.251.141.631.661.952.392.56
PAT to CFO Conversion(x)265.46-8.33N/AN/AN/A3.12-0.010.350.9-0.38
Working Capital Days
Receivable Days66688111381778914
Inventory Days51423635373536424040
Payable Days8784891271458639111415

Patanjali Foods Ltd Stock News

Patanjali Foods Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Patanjali Foods on 28-Mar-2024 16:01 is ₹1,335.9.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Patanjali Foods stood at ₹49,249.4.
The latest P/E ratio of Patanjali Foods as of 28-Mar-2024 16:01 is 59.87.
The latest P/B ratio of Patanjali Foods as of 28-Mar-2024 16:01 is 4.73.
The 52-week high of Patanjali Foods is ₹1,741 and the 52-week low is ₹870.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Patanjali Foods is ₹31,373 ( Cr.) .

About Patanjali Foods Ltd

The company is a diversified FMCG and FMHG focused company, with strategically located manufacturing facilities and well recognised brands having pan India presence. It is one of the largest FMCG companies in the Indian edible oil sector and one of the largest fully integrated edible oil refining companies in India. Being the pioneers and largest manufacturers of soya foods has aided its brand ‘Nutrela’ in becoming a household and generic name in India. It is across the entire value chain in palm and soya segment, with a healthy mix of upstream and downstream business.

The company has been allocated zones, to undertake palm plantation, by the Government, which assists it in backward integration of sourcing palm oil. Ruchi Soya is the largest player in terms of allocated zones. Its integration also extends downstream to the oleochemicals and other by-product and derivatives business. It is pioneers in soya chunks which are associated with nutrition and good health. Leveraging upon the brand ‘Nutrela’, it has launched a range of premium edible oils and blended edible oils and ‘Nutrela High Protein Chakki Atta’ and ‘Nutrela Honey’ in Fiscal 2021. Further, it has expanded its packaged food portfolio by acquiring the ‘Patanjali’ product portfolio of biscuits, cookies, rusks, noodles, and breakfast cereals. In Fiscal 2022, it forayed into a niche and a high growth FMHG segment with the launch of its Nutraceutical business. It is also into the wind power generation business, where the renewable power generated is used for sale and for captive use. This also helps it to offset its carbon footprint, to the extent possible.

The company is a part of the Patanjali group, one of India’s leading FMCG and health and wellness company. Their portfolio includes health and ayurvedic products, cosmetics, processed food, beverages and juices, and personal and home care products. It leverages Patanjali’s expertise and technical know-how in nutraceuticals and benefit from the synergy in the research and development and the pan India distribution network.

Business area of the company

Ruchi Soya Industries is one of India’s largest FMCG companies in the edible oil sector, and one of the largest fully integrated edible oil refining companies in the country, with diversified presence in packaged foods and the FMHG (Fast Moving Health Goods) segment. It is part of the Indian conglomerate Patanjali Group, with nationwide presence powering its growth across the segments of its presence.  The company has in place strong backward and forward linkages, supported by its presence across the entire value chain in the Soya and Palm segments. It is one of the largest palm plantation companies in the country, which provides it secure access to oil palm for seamless backward business integration. Its integration extends downstream to the Oleochemicals and other by-product and derivatives business. It is also engaged in the wind power generation business, using the renewable power generated at its facilities for sale and for captive use.

Key awards, accreditations or recognitions

  • 2021: The company has been recognized as a “Great Place to Work” by Great Place to Work Institute, India.

Major events and milestones

  • 1986: Incorporation of the company as a public limited company.
  • 2019-20: The Patanjali Resolution Plan as submitted by Patanjali Consortium was approved by the National Company Law Tribunal and successfully implemented.
  • 2019-20: Reclassification of promoters of the company.
  • 2019-20: Patanjali Consortium assumed control over the company, as per the terms of the approved Patanjali Resolution Plan.
  • 2020-21: Launch of three new products under the Nutrela brand, i.e., a high protein chakki atta, premium blended oil and honey.
  • 2021-22: Launch of nutraceutical and wellness products.
  • 2021-22: Acquisition of biscuit division from Patanjali Natural Biscuits Private Limited.
  • 2021-22: Acquisition of the noodles and breakfast cereals by an assignment agreement with Patanjali Ayurved Limited.
  • 2021-22: Execution of Distributor Agreement with Patanjali Ayurved Limited.
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