BSE: 508494 | NSE: WARRENTEA | Tea/Coffee | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Warren Tea Ltd is a below average quality company.
The key valuation ratios of Warren Tea Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Warren Tea 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 % ⓘ | 20.1% | 11.1% | 2.5% | -11.7% | -4.3% | -10.4% | -17.4% | 18.9% | 5.9% | -34.1% | - |
| Value Creation Index ⓘ | 0.4 | -0.2 | -0.8 | -1.8 | -1.3 | -1.7 | -2.2 | 0.4 | -0.6 | -3.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 140 | 130 | 138 | 110 | 119 | 119 | 123 | 106 | 89.7 | 57.6 | 1 |
| Sales YoY Gr. | - | -7% | 6.2% | -20.7% | 8.5% | -0.4% | 3.7% | -13.8% | -15.3% | -35.8% | - |
| Adj EPS ⓘ | 16.4 | 10.4 | 2.2 | -14 | -6.8 | -13.4 | -20.4 | 15.3 | 4.5 | -30.8 | 4.1 |
| YoY Gr. | - | -36.9% | -78.7% | -731.2% | NA | NA | NA | NA | -70.8% | -791.9% | - |
| BVPS (₹) ⓘ | 75.4 | 81.6 | 85.5 | 83.6 | 80.1 | 69.9 | 52.9 | 81.7 | 86.9 | 70.4 | 70.8 |
| Adj Net Profit ⓘ | 19.6 | 12.4 | 2.6 | -16.7 | -8.1 | -16 | -24.4 | 18.2 | 5.3 | -36.8 | 5 |
| Cash Flow from Ops. ⓘ | 16.5 | 17.6 | 2.6 | -17.5 | 2.7 | 6.9 | -0.6 | -12.2 | -5.2 | -51.6 | - |
| Debt/CF from Ops. ⓘ | 0 | 0.2 | 3.9 | -1.5 | 12.4 | 5.8 | -87.1 | -1.4 | -3.8 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -9.4% | -13.5% | -22.3% | -35.8% | ||||
| Adj EPS ⓘ | -207.2% | NA | NA | -791.9% | ||||
| BVPSⓘ | -0.8% | -2.6% | 10% | -19.1% | ||||
| Share Price | -13.3% | -7.3% | -0.5% | -19.4% | ||||
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 % ⓘ | 19.9 | 11 | 2.2 | -15.1 | -8.3 | -17.8 | -33.2 | 22.7 | 5.3 | -39.2 | 5.8 |
| Op. Profit Mgn % ⓘ | 21.8 | 11.9 | 4 | -17.9 | -4 | -14.6 | -20.6 | 5.1 | -4.4 | -41.4 | -1621.4 |
| Net Profit Mgn % ⓘ | 14 | 9.5 | 1.9 | -15.2 | -6.8 | -13.5 | -19.8 | 17.2 | 5.9 | -63.9 | 416.7 |
| Debt to Equity ⓘ | 0 | 0 | 0.1 | 0.3 | 0.4 | 0.5 | 0.8 | 0.2 | 0.2 | 0 | - |
| Working Cap Days ⓘ | 139 | 171 | 172 | 226 | 197 | 188 | 164 | 182 | 202 | 294 | 1,257 |
| Cash Conv. Cycle ⓘ | 70 | 83 | 87 | 139 | 119 | 90 | 39 | -7 | 6 | 24 | 672 |
Return on Equity has increased versus last 3 years average to 5.80%
Sales growth has been subdued in last 3 years -22.32%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at -94.97%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 4.1 | 4.2 |
| TTM Sales (₹ Cr.) | 1.2 | 1.2 |
| BVPS (₹.) ⓘ | 70.8 | 76.9 |
| Reserves (₹ Cr.) ⓘ | 73 | 80 |
| P/BV ⓘ | 0.61 | 0.56 |
| PE ⓘ | 10.60 | 10.21 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 35.66 / 59.45 |
| All Time Low / High (₹) | 19.88 / 410.50 |
| Market Cap (₹ Cr.) | 51.8 |
| Equity (₹ Cr.) | 12 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 91.8 |
| 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 | 140.15 | 130.34 | 138.42 | 109.71 | 118.99 | 118.50 | 122.91 | 105.93 | 89.74 | 57.62 |
| Operating Expenses ⓘ | 109.56 | 114.78 | 132.91 | 129.32 | 123.77 | 135.78 | 148.27 | 100.51 | 93.72 | 83.14 |
| Manufacturing Costs | 24.66 | 24.56 | 27.71 | 23.78 | 26.04 | 26.22 | 26.05 | 15.99 | 13.09 | 18.93 |
| Material Costs | -1.89 | -0.20 | -1.84 | 0.51 | -0.72 | -3.13 | 5.28 | -0.16 | 13.05 | 3.58 |
| Employee Cost | 70.05 | 71.88 | 88 | 89.43 | 84.86 | 100.12 | 105.46 | 77.79 | 62.65 | 51.68 |
| Other Costs ⓘ | 16.74 | 18.54 | 19.04 | 15.59 | 13.59 | 12.57 | 11.47 | 6.90 | 4.93 | 8.95 |
| Operating Profit ⓘ | 30.59 | 15.56 | 5.51 | -19.61 | -4.78 | -17.28 | -25.35 | 5.42 | -3.98 | -25.52 |
| Operating Profit Margin (%) | 21.8% | 11.9% | 4.0% | -17.9% | -4.0% | -14.6% | -20.6% | 5.1% | -4.4% | -44.3% |
| Other Income ⓘ | 1.78 | 1.06 | 4.72 | 1.85 | 1.38 | 1.01 | 1.74 | 2.08 | 11.48 | 4.53 |
| Interest ⓘ | 0.35 | 0.32 | 0.76 | 2.32 | 3.75 | 4.04 | 5.33 | 4.89 | 2.53 | 1.91 |
| Depreciation ⓘ | 4.95 | 5 | 3.32 | 3.62 | 3.64 | 3.47 | 2.73 | 2.48 | 1.99 | 1.55 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20.18 | 2.38 | 47.10 |
| Profit Before Tax ⓘ | 27.08 | 11.30 | 6.14 | -23.70 | -10.78 | -23.77 | -31.68 | 20.31 | 5.36 | 22.64 |
| Tax ⓘ | 6.83 | -1.20 | 1.56 | -7.42 | -2.89 | -7.85 | -7.51 | -12.12 | -1.74 | 27.60 |
| Profit After Tax | 20.25 | 12.50 | 4.58 | -16.28 | -7.89 | -15.92 | -24.17 | 32.43 | 7.10 | -4.96 |
| PAT Margin (%) | 14.4% | 9.6% | 3.3% | -14.8% | -6.6% | -13.4% | -19.7% | 30.6% | 7.9% | -8.6% |
| Adjusted EPS (₹) | 16.9 | 10.5 | 3.8 | -13.6 | -6.6 | -13.3 | -20.2 | 27.1 | 5.9 | -4.2 |
| 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 | 108.86 | 116.36 | 120.94 | 99.85 | 95.70 | 83.52 | 63.27 | 97.64 | 103.89 | 84.10 |
| Share Capital ⓘ | 11.95 | 11.95 | 11.95 | 11.95 | 11.95 | 11.95 | 11.95 | 11.95 | 11.95 | 11.95 |
| Reserves ⓘ | 96.90 | 104.41 | 108.99 | 87.90 | 83.75 | 71.57 | 51.32 | 85.69 | 91.94 | 72.15 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 2.53 | 9.15 | 23.56 | 29.35 | 34.25 | 45.82 | 13.13 | 16.74 | 0 |
| Long Term Debt | 0 | 0.31 | 9.15 | 17 | 18 | 12.75 | 26 | 2.06 | 0 | 0 |
| Short Term Debt | 0 | 2.23 | 0 | 6.56 | 11.35 | 21.50 | 19.82 | 11.07 | 16.74 | 0 |
| Trade Payables | 9.70 | 7.91 | 9.27 | 12.05 | 13.41 | 22.15 | 23.63 | 22.89 | 17.78 | 4.91 |
| Others Liabilities ⓘ | 37.82 | 33.44 | 43.40 | 46.99 | 39.90 | 43.20 | 42.40 | 13.70 | -6.28 | 23.75 |
| Total Liabilities ⓘ | 156.38 | 160.24 | 182.76 | 182.44 | 178.36 | 183.13 | 175.12 | 147.36 | 132.13 | 112.76 |
Fixed Assets | ||||||||||
| Gross Block | 156.16 | 160.83 | 164.78 | 68.97 | 76.04 | 81.07 | 88.98 | 62.46 | 50.59 | 7.27 |
| Accumulated Depreciation | 83.42 | 95.23 | 98.45 | 0 | 6.70 | 10.17 | 12.84 | 11.25 | 10.26 | 2.39 |
| Net Fixed Assetsⓘ | 72.74 | 65.60 | 66.33 | 68.97 | 69.34 | 70.90 | 76.14 | 51.20 | 40.33 | 4.87 |
| CWIP ⓘ | 0.47 | 0.45 | 1.17 | 12.41 | 15.17 | 17.28 | 17.03 | 4.04 | 16.46 | 0 |
| Investmentsⓘ | 16.60 | 23.62 | 33.26 | 32.80 | 33.15 | 33.15 | 33.14 | 33.15 | 33.15 | 39.56 |
| Inventories | 8.05 | 8.63 | 10.84 | 8.94 | 8.26 | 12.98 | 6.11 | 7.08 | 7.79 | 0 |
| Trade Receivables | 34.99 | 28.77 | 36.61 | 46.06 | 39.54 | 28.90 | 18.06 | 14.95 | 12.38 | 5.13 |
| Cash Equivalents | 7.52 | 7.85 | 14.22 | 0.11 | 0.10 | 0.06 | 0.03 | 1.87 | 0.17 | 17.44 |
| Others Assetsⓘ | 16.02 | 25.31 | 20.35 | 13.13 | 12.82 | 19.84 | 24.61 | 35.07 | 21.85 | 45.74 |
| Total Assets ⓘ | 156.38 | 160.24 | 182.76 | 182.44 | 178.36 | 183.13 | 175.12 | 147.36 | 132.13 | 112.76 |
| 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 ⓘ | 16.47 | 17.63 | 2.64 | -17.49 | 2.70 | 6.86 | -0.59 | -12.22 | -5.15 | -51.55 |
| PBT ⓘ | 27.08 | 11.30 | 6.14 | -23.70 | -10.78 | -23.77 | -31.68 | 20.31 | 5.36 | 22.64 |
| Adjustment ⓘ | 4.63 | 4.74 | 0.17 | 5.07 | 6.40 | 6.66 | 7.09 | -12.37 | -9.12 | -45.33 |
| Changes in Working Capital ⓘ | -8.75 | 5.58 | -3.49 | 0.37 | 7.08 | 23.98 | 24.72 | -18.98 | 0.79 | -31.58 |
| Tax Paid ⓘ | -6.49 | -3.98 | -0.19 | 0.77 | 0 | -0.01 | -0.73 | -1.18 | -2.18 | 2.15 |
| Cash Flow From Investing Activity ⓘ | -17.44 | -19.65 | -3.23 | -9.75 | -6.63 | -9 | -5.99 | 51.48 | 7.17 | 89.95 |
| Capex | -3.04 | -5.03 | -4.76 | -9.93 | -6.74 | -7.15 | -7.27 | 55.68 | 0.45 | 97.51 |
| Net Investments | -15 | -7.03 | -7.56 | 0.45 | 0.05 | 0 | 0 | 0 | 0 | -8.09 |
| Others ⓘ | 0.60 | -7.59 | 9.10 | -0.28 | 0.05 | -1.85 | 1.28 | -4.20 | 6.72 | 0.53 |
| Cash Flow From Financing Activityⓘ | -0.35 | 2.36 | 6.95 | 13.14 | 3.92 | 2.10 | 6.55 | -37.42 | -2.82 | -22.02 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0.45 | 9.85 | 8.84 | 2.85 | -4 | 13.25 | -24.75 | -3.50 | -3 |
| Interest Paid ⓘ | -0.35 | -0.32 | -0.68 | -2.25 | -3.72 | -4.05 | -5.02 | -5.32 | -3.77 | -2.11 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 2.23 | -2.23 | 6.56 | 4.79 | 10.15 | -1.68 | -7.36 | 4.45 | -16.92 |
| Net Cash Flow ⓘ | -1.33 | 0.34 | 6.36 | -14.10 | -0.02 | -0.03 | -0.03 | 1.84 | -0.81 | 16.38 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 25.33 | 13.32 | 4.59 | -16.12 | -8.07 | -17.77 | -32.93 | 40.31 | 7.05 | -5.27 |
| ROCE (%) | 34.31 | 12.21 | 6.49 | -17.97 | -5.52 | -15.66 | -22.19 | 21.95 | 6.6 | 23.64 |
| Asset Turnover Ratio | 0.97 | 0.82 | 0.81 | 0.6 | 0.66 | 0.66 | 0.69 | 0.66 | 0.64 | 0.47 |
| PAT to CFO Conversion(x) | 0.81 | 1.41 | 0.58 | N/A | N/A | N/A | N/A | -0.38 | -0.73 | N/A | Working Capital Days |
| Receivable Days | 82 | 89 | 86 | 138 | 131 | 105 | 70 | 57 | 56 | 55 |
| Inventory Days | 18 | 23 | 26 | 33 | 26 | 33 | 28 | 23 | 30 | 0 |
| Payable Days | -1,655 | 0 | -1,706 | 7,602 | -6,451 | -2,073 | 1,582 | 0 | 569 | 1,156 |
Warren Tea Limited was incorporated on May 31, 1977 in the state of Assam. The company obtained the certificate for commencement of Business on June 30,1977. Warren Tea Limited is the flagship of the Warrens group. Being one of the largest bulk tea producers in India and in the world, Warren Tea Limited produces 16 million kgs. of tea annually. With its renowned 14 Tea Estates in Upper Assam spread over Moran, Doom Dooma, Panitola and Tingri Districts, the produce of the Company is savoured across 50 countries around the world.
When James Warren decided to create a new Tea Estate in 1850, inspiration set its own timetable. Warren, and thereafter his family, wanted teas that evoked beautiful emotions in people all over the world. Today the Warren legacy presents a history so rich in experience and achievement that it has changed the very course of the Indian tea producers’ art. Generations of dedicated and gifted tea people, working with the most popular of nature’s herbs, have transformed Warren from a mere tea company to a House of rare Quality, so very satisfying to the consumers of its produce.
The regular export markets include quality tea drinking nations like UK, Ireland, Germany, the UAE, USA, Iran and Pakistan. The quality produced at Warrens has not only stood the test of time and palate, but matured and improved with its passage of time. In the great tradition of its founders, the Company believes that the world is its “cuppa†and tries its best to see that the cup “brimmeth over with joy and good cheer and satisfactionâ€.
The Warrens group has been involved in tea production for over a century and now is actively looking towards expansion in other industries. “Warren Steels (P) Limited†is one such diversification where the Company has put up an Investment Casting unit at Sotanala, Behror (Rajasthan). The land for this project was procured from Rajasthan State Industrial Development & Investment Corporation Ltd. (RIICO) in the year 2005 and started production within a record time span of 9 months, in July, 2006.
Warrens, cherish the fact that not only is we the biggest quality tea producers that we set the standards for the entire industry. This unit is the first step to a long journey ahead. We plan to flourish and continue to set higher standards for our competitors and more importantly for itself.
The company exports its products to the United Kingdom, Germany, Ireland, North America, Pakistan, Iran, and the Middle East.
Business area of the company:
The Company's principal activities are plantation, manufacture and sale of Black tea and provide travel related activities. It is engaged in the integrated process of growing, harvesting, manufacturing and sale of black tea and travel related activities.
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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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