Waterbase Ltd - Stock Valuation and Financial Performance

BSE: 523660 | NSE: WATERBASE | Consumer Food | Small Cap

Waterbase Share Price

66.68 -2.19 -3.18%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Waterbase

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Waterbase stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
276.2 Cr.
52-wk low:
56.4
52-wk high:
105

Is Waterbase Ltd an attractive stock to invest in?

1. Is Waterbase Ltd a good quality company?

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

2. Is Waterbase Ltd undervalued or overvalued?

The key valuation ratios of Waterbase Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Waterbase Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Waterbase 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 Waterbase:

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.
Waterbase 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 % 16.3%19.2%14.4%11.6%17.8%16.3%10.3%3.5%0.5%-1.1%-
Value Creation
Index
0.20.40.0-0.20.30.2-0.3-0.8-1.0-1.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 228278319322343365322212299304338
Sales YoY Gr.-21.6%14.8%1%6.5%6.6%-11.8%-34.4%41.2%1.8%-
Adj EPS 3.55.13.937.26.94.51.40.1-0.9-1.8
YoY Gr.-43.8%-22.3%-23.9%141.5%-4.3%-35.2%-69%-95%-1371.4%-
BVPS (₹) 22.225.425.631.536.141.844.445.944.944.142.8
Adj Net
Profit
13.619.515.211.629.928.618.65.70.3-3.7-8
Cash Flow from Ops. 2.512.40.1-13.154.619.843.851.92.3-36.6-
Debt/CF from Ops. 5.6188.2-5.20.51.40.300-1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 3.2%-2.4%-1.9%1.8%
Adj EPS -185.8%-165.8%-158.4%-1371.4%
BVPS7.9%4.1%-0.2%-1.8%
Share Price 14.3% -16.5% -12.4% 17%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
18.52115.210.321.817.810.43.10.2-2-4.2
Op. Profit
Mgn %
10.411.27.59.516.814.2106.70.31.40.1
Net Profit
Mgn %
674.83.68.77.85.82.70.1-1.2-2.3
Debt to
Equity
0.20.10.10.60.20.20.1000.2-
Working Cap
Days
174155137176218223246342227259111
Cash Conv.
Cycle
9887761031141211361629011559

Recent Performance Summary

Sales growth is good in last 4 quarters at 28.25%

Return on Equity is Poor

Sales growth has been subdued in last 3 years -1.93%

Latest Financials - Waterbase Ltd.

Standalone Consolidated
TTM EPS (₹) -1.8 -1.8
TTM Sales (₹ Cr.) 338 338
BVPS (₹.) 42.8 42.8
Reserves (₹ Cr.) 136 136
P/BV 1.56 1.56
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 56.35 / 105.01
All Time Low / High (₹) 1.84 / 417.50
Market Cap (₹ Cr.) 276
Equity (₹ Cr.) 41.4
Face Value (₹) 10
Industry PE 65.3

Management X-Ray of Waterbase:

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 Waterbase

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
Sales228278319322343365322212299304
Operating Expenses 204247295291285314290197298300
Manufacturing Costs18151117161615121921
Material Costs158199244238218247227139219226
Employee Cost 9111416192121212628
Other Costs 20212619333027253525
Operating Profit 243123305851321414
Operating Profit Margin (%) 10.4%11.1%7.4%9.4%16.8%14.1%10.0%6.7%0.2%1.3%
Other Income 1222262393
Interest 3119433112
Depreciation 2125677789
Exceptional Items 00-210000000
Profit Before Tax 203021849472580-4
Tax 711161916620-1
Profit After Tax 142011230311960-3
PAT Margin (%) 5.9%7.0%0.2%3.6%8.7%8.4%5.7%2.8%0.0%-1.1%
Adjusted EPS (₹)3.55.10.23.07.27.54.51.40.0-0.8
Dividend Payout Ratio (%)0%30%0%33%21%20%0%70%0%0%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 8799100122150173184190186183
Share Capital 39393939414141414141
Reserves 48616183108132142149145141
Minority Interest0000000000
Debt13121062221890038
Long Term Debt200141385000
Short Term Debt1012104881040038
Trade Payables48312335522720292546
Others Liabilities 11233147748989908387
Total Liabilities 158166164265297307302310294353

Fixed Assets

Gross Block57626571769599102109128
Accumulated Depreciation4345469152229364453
Net Fixed Assets15171862617370666575
CWIP 0133911034
Investments 0000000000
Inventories49391671838962585975
Trade Receivables48577682907374483987
Cash Equivalents 252921117723574226
Others Assets21222936476572818686
Total Assets 158166164265297307302310294353

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 3120-13552044522-37
PBT 2030221849472580-4
Adjustment 103131914131559
Changes in Working Capital -12-93-400-241334-2-41
Tax Paid -7-9-7-4-14-18-8-5-10
Cash Flow From Investing Activity 1-4-4-7-6-8-4-5328-15
Capex -1-5-5-8-12-10-4-1-13-17
Net Investments 000041-1-53380
Others 1111211232
Cash Flow From Financing Activity 5-5-5-15-9-13-20-10-531
Net Proceeds from Shares 13000000000
Net Proceeds from Borrowing -8-10-70-3-9-8012
Interest Paid -100-9-4-3-3-2-1-2
Dividend Paid 0-3-20-5-7-70-40
Others 10-200000021
Net Cash Flow 84-9-3640-220-1125-21
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)18.7521.250.710.522.0419.1210.393.170.05-1.88
ROCE (%)24.6429.942.3317.5728.5726.7213.864.960.64-1.11
Asset Turnover Ratio1.571.721.931.51.221.211.060.690.990.94
PAT to CFO Conversion(x)0.210.60-1.081.830.652.328.67INFN/A
Working Capital Days
Receivable Days756976899282831055375
Inventory Days675832498286851047280
Payable Days55493644735838654657

Waterbase Ltd Stock News

Waterbase Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Waterbase on 28-Mar-2024 16:01 is ₹66.68.
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 Waterbase stood at ₹276.2.
The latest P/E ratio of Waterbase as of 28-Mar-2024 16:01 is 0.00.
The latest P/B ratio of Waterbase as of 28-Mar-2024 16:01 is 1.56.
The 52-week high of Waterbase is ₹105.0 and the 52-week low is ₹56.35.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Waterbase is ₹337.6 ( Cr.) .

About Waterbase Ltd

Waterbase Limited is the largest integrated aquaculture unit in India located in the heart of shrimp country at Nellore in Andhra Pradesh. The company's mission is to give customers the best value for money with quality seed, feed, or processed produce.

The company began operations in 1993 and has stood committed to following and disseminating the best aquaculture techniques. Today, the company is a $18 million company (Rs 1 billion) with facilities that comprise a shrimp hatchery, feed plant, grow-out farms, and an ultra-modern process plant.

Waterbase Limited is a part of the 80-year-old, $ 2 billion Thapar Group, one of India's largest business houses. The Thapar Group has interests in areas such as paper, chemicals, glass, textiles, electronics, light and heavy engineering.

Raw or cooked, peeled or unpeeled, breaded and battered; it exports shrimp in different forms to the quality-conscious markets of Japan, USA, and Europe. In addition, the company supplies value-added shrimp in different forms to many of its customers.

Species it grows and processes:

Black Tiger, (P Monodon), White (P Indicus), Scampi (M. Rosenbergii)

Aquaculture is a business that demands constant monitoring and innovation. The company's process is geared to grow, harvest, and process quality shrimp. It follows HACCP guidelines and is among the few Indian companies that have FDA approval for exports to USA.

Product range of the company includes:

HLSO

  • Headless Shell-on block frozen

HO

  • Head-on block frozen

IQF

  • Full range

PDTO

  • Peeled Deveined Tail On

Stretched/Tray pack

Cooked - full range

Raw breaded butterfly shrimp

Value-added convenience foods

World-class feed for different types of shrimp culture

  • Ultra
  • Tiger bay
  • Supreme extensive
  • Magnum scampi feed

Clientele:

USA

  • Neptune Fisheries Inc, Virginia
  • H & N Fish Company, San Francisco
  • Central Seaway Corporation Inc., Illinois
  • Aquastar Inc., Seattle
  • Amende and Schultz, Inc., Pasadena
  • Darik Enterprises Inc, New York
  • Hanwa American Corp, Seattle
  • Berdex Seafood Inc., San Francisco
  • Expack Seafood Inc., New Jersey
  • Ocean Garden Products Inc., San Diego
  • Torry Harris Inc., New Jersey
  • Red Chamber Co., Vernon
  • LBA Rymer International Seafood, Chicago

Japan

  • Hanwa Co., Nagoya
  • Hanwa Co. Limited, Tokyo
  • K.I. Shoji Co. Limited, GIFU - City
  • Mitsui & Company Limited, Tokyo
  • Eiger Co. Limited, Kyoto
  • Toshoku Limited, Tokyo
  • Osaka Uoichiba Co. Limited, Osaka
  • Sumitomo Corporation, Tokyo
  • Mitsubishi Corporation, Tokyo
  • Hoko Fishing Co. Limited, Tokyo
  • Showa Trading Co. Limited, Tokyo
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