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Skyline Millars Ltd. Stock Analysis

Small Cap
Evaluated by 69 users | BSE: 505650 | NSE: |
Cement & Construction Materials
Skyline Millars (SML) formerly Millars India Limited, was incorporated as The ACME Manufacturing Company Limited on November 28,1919 under the Indian Companies Act, 1913. Its name was changed to Millars India Limited on January 4, 2002. The company’s registered office is at 24, Kurla...

Analysis of Financial Track Record

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.
Value Creation
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 12.88%8.68%7.45%6.25%-0.33%-9.79%-7.32%-20.34%-6.94%-0.13%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 22.72925.825.114.46.28.82.134.5
Y-o-Y Gr. Rt.-27.8%-11.1%-2.5%-42.5%-57.2%41.8%-76.5%47.6%48%
Adjusted EPS (Rs.) 1.050.770.690.65-0.08-1.21-0.87-1.74-0.49-0.05
Y-o-Y Gr. Rt.--26.7%-10.4%-5.8%-112.3%NANANANANA
Book Value per Share (Rs.) 8.629.169.6210.2310.229.038.166.755.95.85
Adjusted Net Profit 4.23.12.82.6-0.3-4.9-3.5-7-2-0.2
Net Op. Cash Flow (Rs. Cr.) 5.43.54.70.41.8-2.10.4-0.6-3.22.7
Debt to Cash Flow from Ops 0009.942.45-2.5113.02-3.31-0.680
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Skyline Millars Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -16.4%-20.8%-19.9%48%
Adjusted EPS -171.3%NANANA
Book Value per Share -4.2-10.6-10.5-0.9
Share Price -0.7% 8.1% 27.6% 33.2%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) 12.88.687.396.57-0.79-12.54-10.07-23.4-7.79-0.88
Operating Profit Margin (%) 19.1711.7912.410.37-2.86-51.24-21.23-520.32-45.07-4.91
Net Profit Margin (%) 18.6510.7110.8510.46-2.26-78.65-39.78-340.14-65.29-4.65
Debt to Equity 0000.10.110.150.160.080.090
Working Capital Days 5904455185378161,6151,1534,8753,4242,021
Cash Conversion Cycle 45918033781793781741,5561,8091,186
Entity Percentage Holding
Promoters 71.68%
Non-Institutions 28.32%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Skyline Millars's performance infers:

Skyline Millars earnings have grown by 0%, whereas share price has appreciated 8.1% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Skyline Millars share prices over the last 10 years. Here is what we found out:

Skyline Millars share price has appreciated -7.9% annually over the past ten years.

Skyline Millars (SML) formerly Millars India Limited, was incorporated as The ACME Manufacturing Company Limited on November 28,1919 under the Indian Companies Act, 1913. Its name was changed to Millars India Limited on January 4, 2002. The company’s registered office is at 24, Kurla – Kirol Road, Ghatkopar (West), Mumbai – 400 086.

The company was promoted by the Walchand Group; Ashok Patel son of J.V.Patel acquired the shares from Walchand Group and took over the

Skyline Millars (SML) formerly Millars India Limited, was incorporated as The ACME Manufacturing Company Limited on November 28,1919 under the Indian Companies Act, 1913. Its name was changed to Millars India Limited on January 4, 2002. The company’s registered office is at 24, Kurla – Kirol Road, Ghatkopar (West), Mumbai – 400 086.

The company was promoted by the Walchand Group; Ashok Patel son of J.V.Patel acquired the shares from Walchand Group and took over the management in 1972. Khandelwal Udyog Limited a manufacturer of EOT cranes & millars timber and a trading company were acquired by J.V. Patel in 1969 and 1970 respectively. Khandelwal Udyog Limited was merged with The ACME Manufacturing Company Limited with effect from October 1, 1974 as per the order of the Bombay High Court dated August 13, 1976.

The running business of construction machinery of Millars Machinery Company Private Limited was taken over by the company in 1984. Ashok J. Patel was the managing director of the company from 1974 to 1984 and thereafter he became the chairman of the company and continues to be the chairman of the company. He is also the managing director of GMM Pfaudler Limited .

The main activities of the company are manufacturing of construction equipment and EOT cranes. It has recently entered into property development business. The company’s manufacturing activities which were being carried out at its unit at Ghatkopar, Mumbai have been fully shifted since October, 2003 from Ghatkopar, Mumbai to its works at Karamsad, Gujarat.

The company continued to make operating profits and net profits up to 1994-95. It started incurring operating losses from 1995-96. Due to recession in the capital goods industry and high labour cost at Ghatkopar, Mumbai, the crane manufacturing activity at Ghatkopar started incurring losses from 1996 and thereafter due to continuous losses in the company for four years, it was declared as a sick industrial undertaking by the Board for Industrial and Financial Reconstruction (BIFR). BIFR sanctioned a scheme of Rehabilitation in 2001 appointing Bank of India as a monitoring agency.

As a rehabilitation measure, the company shifted its manufacturing activities from Ghatkopar, Mumbai to Karamsad, Gujarat in October, 2003 and entered into joint development agreement for its Ghatkopar property with M/s Skyline Vision Private Limited. The company adopted various other rehabilitation measures which has resulted in its net worth becoming positive from 2003-04. Consequently, as per the summary record of the proceedings of the review hearing held on October 17, 2006, the BIFR has discharged the company from the purview of the Sick Industrial Companies ( Special Provisions ) Act, 1985 / BIFR. Accordingly, SML is no longer a “Sick” company.

The company is listed on the Bombay Stock Exchange and Ahemadabad Stock exchange since 1984.

Business area of the company:

The company is mainly engaged in manufacturing of construction equipment and EOT cranes

  • Tilting drum Mixer
  • High Speed Pan Mixer
  • Reversing Drum Mixer
  • HL- BW Concrete Mixer
  • Concrete Pump Trailor Mounted
  • Truck Mixer with Pump & Placing Boom
  • Concrete Batching Plant
  • Cement Storage & Handling System
  • Builder Hoist Inclined or Vertical

The company has also taken up property development business and is building Skyline Oasis, near Vidyavihar Staion, Mumbai

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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