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Past 10 year’s financial track record analysis by Moneyworks4me indicates that Dollex Agrotech Ltd is a below average quality company.
The key valuation ratios of Dollex Agrotech Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Dollex Agrotech Ltd is likely to Rise-somewhat 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'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 3% | 4.5% | 7.1% | 9.5% | - |
| Value Creation Index ⓘ | -0.8 | -0.7 | -0.5 | -0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 25.3 | 77.2 | 79.4 | 110 | 110 |
| Sales YoY Gr. | - | 205.2% | 2.9% | 39.1% | - |
| Adj EPS ⓘ | 0.6 | 0.8 | 1.7 | 2.5 | 2.4 |
| YoY Gr. | - | 26.7% | 123.7% | 44.1% | - |
| BVPS (₹) ⓘ | 11.6 | 11.6 | 13.3 | 20 | 20 |
| Adj Net Profit ⓘ | 0.6 | 1.5 | 3.4 | 6.1 | 6 |
| Cash Flow from Ops. ⓘ | -9.2 | 0.2 | 10.4 | -20.1 | - |
| Debt/CF from Ops. ⓘ | -5.7 | 207.4 | 4.4 | -2.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 63.5% | 39.1% | ||||
| Adj EPS ⓘ | NA | NA | 59.8% | 44.1% | ||||
| BVPSⓘ | NA | NA | 20.1% | 51.1% | ||||
| Share Price | - | - | - | 26.5% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 5.2 | 8.8 | 13.7 | 16 | 12.2 |
| Op. Profit Mgn % ⓘ | 17.6 | 8.7 | 11.1 | 11.6 | NAN |
| Net Profit Mgn % ⓘ | 2.4 | 2 | 4.3 | 5.5 | 5.5 |
| Debt to Equity ⓘ | 4.5 | 2.2 | 1.7 | 0.9 | - |
| Working Cap Days ⓘ | 0 | 241 | 287 | 330 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 70 | 82 | 183 | 0 |
Sales growth is growing at healthy rate in last 3 years 63.46%
Net Profit is growing at healthy rate in last 3 years 59.83%
Debt to equity has declined versus last 3 years average to 0.86
Return on Equity has declined versus last 3 years average to 12.20%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 2.4 | - |
| TTM Sales (₹ Cr.) | 110 | - |
| BVPS (₹.) ⓘ | 20 | - |
| Reserves (₹ Cr.) ⓘ | 25 | - |
| P/BV ⓘ | 2.07 | - |
| PE ⓘ | 16.97 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 104 |
| Equity (₹ Cr.) | 25 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 17.4 |
| Pledged * | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|
| Sales | 25 | 77 | 79 | 110 |
| Operating Expenses ⓘ | 21 | 71 | 71 | 98 |
| Manufacturing Costs | 2 | 2 | 2 | 4 |
| Material Costs | 16 | 65 | 66 | 89 |
| Employee Cost | 2 | 2 | 1 | 2 |
| Other Costs ⓘ | 2 | 1 | 1 | 2 |
| Operating Profit ⓘ | 4 | 7 | 9 | 13 |
| Operating Profit Margin (%) | 17.6% | 8.7% | 10.8% | 11.6% |
| Other Income ⓘ | 1 | 0 | 0 | 0 |
| Interest ⓘ | 2 | 2 | 2 | 2 |
| Depreciation ⓘ | 2 | 2 | 2 | 3 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 3 | 4 | 8 |
| Tax ⓘ | 1 | 1 | 1 | 2 |
| Profit After Tax | 1 | 2 | 3 | 6 |
| PAT Margin (%) | 2.3% | 2.2% | 4.1% | 5.5% |
| Adjusted EPS (₹) | 0.6 | 0.8 | 1.6 | 2.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 12 | 23 | 26 | 50 | ||||||
| Share Capital ⓘ | 10 | 20 | 20 | 25 | ||||||
| Reserves ⓘ | 2 | 3 | 6 | 25 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 51 | 48 | 41 | 38 | ||||||
| Long Term Debt | 51 | 47 | 40 | 33 | ||||||
| Short Term Debt | 0 | 1 | 1 | 6 | ||||||
| Trade Payables | 22 | 27 | 33 | 67 | ||||||
| Others Liabilities ⓘ | 5 | 7 | 14 | 13 | ||||||
| Total Liabilities ⓘ | 89 | 105 | 114 | 168 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 48 | 49 | 46 | 44 | ||||||
| Accumulated Depreciation | 2 | 5 | 7 | 9 | ||||||
| Net Fixed Assetsⓘ | 46 | 44 | 39 | 35 | ||||||
| CWIP ⓘ | 0 | 1 | 1 | 1 | ||||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | ||||||
| Inventories | 29 | 40 | 38 | 101 | ||||||
| Trade Receivables | 1 | 5 | 21 | 19 | ||||||
| Cash Equivalents | -1 | 3 | 6 | 1 | ||||||
| Others Assetsⓘ | 14 | 12 | 9 | 12 | ||||||
| Total Assets ⓘ | 89 | 105 | 114 | 168 | ||||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -9 | 0 | 10 | -20 |
| PBT ⓘ | 1 | 3 | 4 | 8 |
| Adjustment ⓘ | 4 | 5 | 5 | 5 |
| Changes in Working Capital ⓘ | -14 | -7 | 1 | -31 |
| Tax Paid ⓘ | 0 | 0 | 0 | -2 |
| Cash Flow From Investing Activity ⓘ | -8 | -2 | 3 | 3 |
| Capex | -8 | -2 | 0 | -3 |
| Net Investments | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 3 | 6 |
| Cash Flow From Financing Activityⓘ | 15 | 6 | -10 | 13 |
| Net Proceeds from Shares ⓘ | 5 | 10 | 0 | 17 |
| Net Proceeds from Borrowing ⓘ | 12 | -3 | 0 | 0 |
| Interest Paid ⓘ | -2 | -2 | -2 | -2 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 1 | -7 | -2 |
| Net Cash Flow ⓘ | -2 | 4 | 3 | -5 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 5 | 9.63 | 13.15 | 15.96 | ||||||
| ROCE (%) | 4.95 | 7.01 | 9.29 | 12.67 | ||||||
| Asset Turnover Ratio | 0.28 | 0.8 | 0.73 | 0.78 | ||||||
| PAT to CFO Conversion(x) | -9 | 0 | 3.33 | -3.33 | Working Capital Days | |||||
| Receivable Days | 16 | 14 | 58 | 65 | ||||||
| Inventory Days | 424 | 165 | 181 | 231 | ||||||
| Payable Days | 514 | 139 | 166 | 205 | ||||||
The company was originally incorporated as a private limited company under the Companies Act, 2013 in the name and style of “Dollex Agrotech Private Limited” bearing Corporate Identification Number dated June 10, 2013 issued by the Registrar of Companies, Gwalior. Subsequently, the Company was converted into public limited company pursuant to a shareholders’ resolution passed at an Extra-Ordinary General Meeting held on April 25, 2022, and name of the Company was changed to “Dollex Agrotech Limited” and a fresh Certificate of Incorporation dated May 20, 2022, was issued by Registrar of Companies, Gwalior.
Dollex Agrotech is engaged into the business of manufacturing & trading of sugar with captive power cogeneration capabilities. The company’s promoter Mehmood Khan possess rich experience of sugar industry of nearly about fifteen years. In 2006, Mehmood Khan, one of its promoter, participated in a tender floated by Government of Maharashtra for a sugar unit on lease at Nanded, Maharashtra and was allotted the unit for a period of 6 years. After getting rich experience in sugar industry, he started mentoring other companies engaged in sugar manufacturing. Thereafter, he decided to set up a sugar manufacturing plant, in the name of the company ‘Dollex Industries Limited’ which was later on merged with an unlisted company, ‘Parvati Sweetners and Power Ltd’, in 2018, and its promoters sold their shareholding in that company & currently has no control neither by shareholding nor by any managerial rights.
As the production of sugarcane required ample amount of time, the company started its cane development process since Incorporation. Thereafter, the promoters started gathering resources like plant and machinery, key managerial personnel etc. for establishing and operating sugar manufacturing plant till the year 2017. In the year 2018, the company then started its operations of Sugar manufacturing, from sugarcane along with co-generation capabilities in Indore, Madhya Pradesh. Its plant is situated at Village Erai, Tehsil Badoni Khurd, Dist. Datia, Madhya Pradesh. It has received in-principle approval from department of Food & public distribution from Government of India for establishing distilleries. In addition to sugar, it also produces and sells its byproducts such as mollases, pressmud and bagasse. The bagasse is used to generate power. The power is generated from bagasse to run its plant at Datia.
Business area of the company
The company is engaged in the business of manufacturing & trading sugar with captive power cogeneration capabilities. It also produces and sells its by-products such as mollases, pressed and bagasse.
Key events and milestones
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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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