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BSE: 517437 | NSE: | Plastic Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Dutron Polymers Ltd is a average quality company.
The key valuation ratios of Dutron Polymers 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 Weak which suggest that the price of Dutron Polymers 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 % ⓘ | 8% | 7% | 9.9% | 9% | 8.3% | 8.1% | 8.1% | 9.2% | 9.9% | 10.1% | - |
| Value Creation Index ⓘ | -0.4 | -0.5 | -0.3 | -0.4 | -0.4 | -0.4 | -0.4 | -0.3 | -0.3 | -0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 76 | 81.9 | 104 | 87.1 | 97 | 106 | 89.2 | 94.4 | 125 | 132 | 121 |
| Sales YoY Gr. | - | 7.7% | 27.1% | -16.3% | 11.4% | 9.6% | -16.2% | 5.8% | 32% | 5.9% | - |
| Adj EPS ⓘ | 2.1 | 1.8 | 3.3 | 3.1 | 3 | 3 | 2.8 | 3.5 | 4.6 | 4.5 | 5.1 |
| YoY Gr. | - | -12% | 78.7% | -6.7% | -1% | 0% | -8.6% | 26.8% | 31.4% | -2.6% | - |
| BVPS (₹) ⓘ | 23.5 | 23.9 | 25.5 | 26.8 | 28.1 | 28 | 31.8 | 34.7 | 38.1 | 41.2 | 45 |
| Adj Net Profit ⓘ | 1.3 | 1.1 | 2 | 1.8 | 1.8 | 1.8 | 1.7 | 2.1 | 2.8 | 2.7 | 3 |
| Cash Flow from Ops. ⓘ | 0.9 | -0.7 | 4.4 | 3.2 | -5 | 8.2 | 3.2 | 6.3 | 1.5 | 8.2 | - |
| Debt/CF from Ops. ⓘ | 12.6 | -18.9 | 3.4 | 4.9 | -4.6 | 2 | 4.6 | 2.1 | 8.9 | 1.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 6.3% | 6.3% | 13.9% | 5.9% | ||||
| Adj EPS ⓘ | 8.9% | 8.2% | 17.5% | -2.6% | ||||
| BVPSⓘ | 6.4% | 7.9% | 9% | 8.1% | ||||
| Share Price | 21.6% | 5.5% | 5.1% | 24.8% | ||||
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 % ⓘ | 8.8 | 7.6 | 13.1 | 11.5 | 10.9 | 10.6 | 9.2 | 10.5 | 12.5 | 11.2 | 11.7 |
| Op. Profit Mgn % ⓘ | 5.1 | 4.6 | 5.2 | 6.4 | 5.4 | 4.6 | 5.2 | 5.4 | 4.4 | 4.4 | 4.9 |
| Net Profit Mgn % ⓘ | 1.6 | 1.3 | 1.9 | 2.1 | 1.9 | 1.7 | 1.9 | 2.2 | 2.2 | 2 | 2.5 |
| Debt to Equity ⓘ | 0.8 | 1 | 1 | 1 | 1.3 | 1 | 0.8 | 0.6 | 0.6 | 0.4 | - |
| Working Cap Days ⓘ | 99 | 103 | 81 | 97 | 103 | 111 | 115 | 109 | 88 | 87 | 47 |
| Cash Conv. Cycle ⓘ | 77 | 80 | 66 | 80 | 87 | 100 | 100 | 90 | 73 | 67 | 38 |
Return on Equity has increased versus last 3 years average to 11.70%
Sales growth is growing at healthy rate in last 3 years 13.94%
Net Profit is growing at healthy rate in last 3 years 17.52%
Debt to equity has declined versus last 3 years average to 0.39
Sales growth is not so good in last 4 quarters at -11.72%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.1 | - |
| TTM Sales (₹ Cr.) | 121 | - |
| BVPS (₹.) ⓘ | 45 | - |
| Reserves (₹ Cr.) ⓘ | 21 | - |
| P/BV ⓘ | 3.38 | - |
| PE ⓘ | 30.16 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 114.10 / 177.90 |
| All Time Low / High (₹) | 3.73 / 273.00 |
| Market Cap (₹ Cr.) | 91.4 |
| Equity (₹ Cr.) | 6 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 36 |
| 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 | 76 | 81.88 | 104.08 | 87.08 | 97.03 | 106.36 | 89.18 | 94.38 | 124.55 | 131.91 |
| Operating Expenses ⓘ | 72.09 | 78.11 | 98.68 | 81.53 | 91.77 | 101.46 | 84.52 | 89.25 | 119.07 | 126.20 |
| Manufacturing Costs | 5.37 | 5.82 | 7.74 | 4.26 | 4.19 | 4.95 | 4.90 | 4.02 | 4.35 | 5.34 |
| Material Costs | 62.04 | 67.26 | 88.88 | 72.15 | 81.19 | 89.20 | 72.56 | 78.29 | 107.13 | 112.16 |
| Employee Cost | 0.46 | 0.59 | 0.71 | 4.04 | 4.77 | 5.72 | 5.99 | 5.80 | 5.93 | 6.45 |
| Other Costs ⓘ | 4.23 | 4.45 | 1.35 | 1.08 | 1.62 | 1.60 | 1.07 | 1.14 | 1.65 | 2.25 |
| Operating Profit ⓘ | 3.91 | 3.76 | 5.40 | 5.56 | 5.25 | 4.89 | 4.66 | 5.13 | 5.48 | 5.71 |
| Operating Profit Margin (%) | 5.1% | 4.6% | 5.2% | 6.4% | 5.4% | 4.6% | 5.2% | 5.4% | 4.4% | 4.3% |
| Other Income ⓘ | 0.17 | 0.18 | 0.15 | 0.15 | 0.17 | 0.61 | 0.62 | 0.44 | 0.40 | 0.30 |
| Interest ⓘ | 1.08 | 1.09 | 1.34 | 1.41 | 1.66 | 1.64 | 1.51 | 1.45 | 1.06 | 1.26 |
| Depreciation ⓘ | 1.16 | 1.23 | 1.44 | 1.54 | 0.96 | 1.05 | 1.14 | 1.12 | 1.18 | 1.17 |
| Exceptional Items ⓘ | 0 | 0.83 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1.83 | 2.45 | 2.77 | 2.76 | 2.80 | 2.82 | 2.63 | 2.99 | 3.64 | 3.58 |
| Tax ⓘ | 0.59 | 0.76 | 0.81 | 0.92 | 0.98 | 0.72 | 0.66 | 0.71 | 0.74 | 1 |
| Profit After Tax | 1.25 | 1.69 | 1.96 | 1.83 | 1.82 | 2.10 | 1.97 | 2.28 | 2.90 | 2.58 |
| PAT Margin (%) | 1.6% | 2.1% | 1.9% | 2.1% | 1.9% | 2.0% | 2.2% | 2.4% | 2.3% | 2.0% |
| Adjusted EPS (₹) | 2.1 | 2.8 | 3.3 | 3.1 | 3.0 | 3.5 | 3.3 | 3.8 | 4.8 | 4.3 |
| Dividend Payout Ratio (%) | 67% | 50% | 43% | 46% | 46% | 40% | 37% | 32% | 29% | 33% |
| 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 | 14.31 | 14.55 | 15.51 | 16.26 | 17.07 | 16.97 | 19.24 | 20.98 | 23.04 | 24.88 |
| Share Capital ⓘ | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Reserves ⓘ | 8.31 | 8.55 | 9.51 | 10.26 | 11.07 | 10.97 | 13.24 | 14.98 | 17.04 | 18.88 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 10.71 | 13.58 | 15.12 | 15.66 | 22.67 | 16.59 | 14.52 | 13.25 | 13.36 | 9.64 |
| Long Term Debt | 6.21 | 8.10 | 7.54 | 7.86 | 20.20 | 14.23 | 13.77 | 13.25 | 13.36 | 9.64 |
| Short Term Debt | 4.50 | 5.48 | 7.57 | 7.80 | 2.47 | 2.36 | 0.74 | 0 | 0 | 0 |
| Trade Payables | 4.34 | 3.21 | 2.73 | 2.78 | 3.55 | 0.02 | 1.37 | 1.05 | 3 | 2.32 |
| Others Liabilities ⓘ | 2.47 | 2.54 | 1.90 | 3.35 | 4.43 | 5.05 | 3.51 | 3.47 | 2.97 | 2.86 |
| Total Liabilities ⓘ | 31.84 | 33.88 | 35.25 | 38.06 | 47.72 | 38.64 | 38.63 | 38.75 | 42.36 | 39.70 |
Fixed Assets | ||||||||||
| Gross Block | 21.54 | 14.49 | 17.73 | 19.54 | 19.82 | 21.49 | 19.96 | 20.52 | 21.14 | 21.82 |
| Accumulated Depreciation | 14.27 | 7.78 | 9.23 | 10.74 | 11.70 | 12.75 | 10.99 | 11.86 | 12.97 | 14.13 |
| Net Fixed Assetsⓘ | 7.27 | 6.70 | 8.51 | 8.80 | 8.12 | 8.74 | 8.97 | 8.66 | 8.17 | 7.68 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 1.76 | 2.07 | 2.33 | 0 | 0 | 0 | 0 |
| Inventories | 14.56 | 11.97 | 13.14 | 16.13 | 13.79 | 12.32 | 14.39 | 12.64 | 11.23 | 13.21 |
| Trade Receivables | 8.68 | 13.80 | 12.19 | 9.57 | 22.58 | 13.51 | 10.22 | 11.72 | 18.33 | 11.26 |
| Cash Equivalents | 0.23 | 0.26 | 0.05 | 0.47 | 0.06 | 0.34 | 0.47 | 3 | 1.48 | 1.72 |
| Others Assetsⓘ | 1.09 | 1.16 | 1.36 | 1.33 | 1.10 | 1.39 | 4.58 | 2.73 | 3.14 | 5.82 |
| Total Assets ⓘ | 31.84 | 33.88 | 35.25 | 38.06 | 47.72 | 38.64 | 38.63 | 38.75 | 42.36 | 39.70 |
| 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 ⓘ | 0.85 | -0.72 | 4.40 | 3.23 | -4.95 | 8.22 | 3.19 | 6.26 | 1.50 | 8.20 |
| PBT ⓘ | 1.83 | 1.62 | 2.77 | 2.76 | 2.80 | 2.82 | 2.63 | 2.99 | 3.64 | 3.58 |
| Adjustment ⓘ | 1.27 | 1.22 | 1.44 | 1.91 | 0.96 | 0.60 | 1.80 | 2.67 | 2.10 | 2.35 |
| Changes in Working Capital ⓘ | -1.41 | -2.65 | 1.2 | -0.32 | -7.6 | 5.7 | -0.36 | 1.23 | -3.39 | 3.38 |
| Tax Paid ⓘ | -0.85 | -0.91 | -1.01 | -1.11 | -1.10 | -0.90 | -0.72 | -0.64 | -0.85 | -1.11 |
| Cash Flow From Investing Activity ⓘ | -0.32 | -0.28 | -3.21 | -1.83 | -0.28 | -1.23 | -1.01 | -0.73 | -0.55 | -0.50 |
| Capex | -0.32 | -0.28 | -3.21 | -1.83 | -0.28 | -1.23 | -1.01 | -0.82 | -0.66 | -0.68 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.09 | 0.10 | 0.18 |
| Cash Flow From Financing Activityⓘ | -0.53 | 1.03 | -1.40 | -0.97 | 4.82 | -6.71 | -2.06 | -2.99 | -2.47 | -7.45 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0.30 | 1.89 | -0.56 | 0.32 | 5.53 | -5.68 | -0.45 | -0.52 | 0.10 | -3.72 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.45 | -1.06 | -1.26 |
| Dividend Paid ⓘ | -0.84 | -0.84 | -0.84 | -0.84 | -0.84 | -0.84 | -0.72 | -0.72 | -0.84 | -0.84 |
| Others ⓘ | 0 | -0.02 | -0.01 | -0.45 | 0.13 | -0.19 | -0.88 | -0.29 | -0.67 | -1.63 |
| Net Cash Flow ⓘ | 0 | 0.03 | -0.21 | 0.43 | -0.41 | 0.28 | 0.12 | 2.54 | -1.53 | 0.25 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 8.91 | 11.85 | 13.21 | 11.68 | 11.02 | 12.46 | 10.98 | 11.45 | 13.29 | 10.86 |
| ROCE (%) | 11.75 | 13.41 | 14.08 | 13.41 | 12.5 | 12.22 | 12.39 | 13.15 | 13.4 | 13.72 |
| Asset Turnover Ratio | 2.74 | 2.78 | 3.51 | 2.77 | 2.67 | 2.46 | 2.31 | 2.44 | 3.07 | 3.22 |
| PAT to CFO Conversion(x) | 0.68 | -0.43 | 2.24 | 1.77 | -2.72 | 3.91 | 1.62 | 2.75 | 0.52 | 3.18 | Working Capital Days |
| Receivable Days | 39 | 45 | 39 | 39 | 51 | 62 | 49 | 42 | 44 | 41 |
| Inventory Days | 56 | 53 | 38 | 53 | 48 | 45 | 55 | 52 | 35 | 34 |
| Payable Days | 21 | 21 | 12 | 14 | 14 | 7 | 4 | 6 | 7 | 9 |
Dutron Polymers was founded in 1962. The company is a pioneer of PVC hose pipes in India. Beginning with a modest plastic pipe manufacturer, Dutron went on to procure world specialist Kanaflex PVC hose pipe manufacturing know-how. Later on, during the 1980s, it started manufacturing of PVC braided hoses, flat delivery hoses, Corrugated pipes and plastic sheets. And further ahead, its product portfolio expanded with international standard HDPE/MDPE/PP pipe systems, uPVC pipes and fittings during the 1990s. Today, Dutron is the largest manufacturer of PVC hoses and one of the largest manufacturers of plastic pipe systems in India. Dutron’s products are manufactured using world class technologies from Totaku Industries Inc, Osaka, Japan for Dutron Kanaflex PVC reinforced hose pipes; and Wavin Overseas B V, the Netherlands for Poly Ethylene (PE) pipe systems and uPVC pipes and fittings. Dutron's manufacturing plants are located at three places in India’s industrial state of Gujarat: Vatva in Ahmedabad, Bharuch and the state-of-the-art plant at Kheda. The company offers plastic products for all types of piping applications in several markets such as -- civil – irrigation, drainage, sewer and gardening industries – chemicals, effluents, air and food utilities – water, gas, cable ducting building – soil, waste & rain water (SWR), Plumbing.
Products & Services Offered:
Braided hose which includes braided hose pipes, spray/CW power/rock dill dose, transparent (high pressureair/pneumatic) hose, gas weild hose, super car washing hose, water hose/garden Hose
HDPE pipe sysytem includes HDPE fittings, HDPE pipe system, HDPE/ MDPE//Pp pipes.
Suction and delivery hose includes duct hose, M.D green , oil hose, heavy-duty hose, non-toxic, suction and delivery hose pipes
Other products includes flat/Kisan hose
Awards & Achievements:-
Dutron’s presence in the international markets of many Gulf countries including UAE, Saudi Arabia, Muscat, Qatar, Bahrain, Kuwait and also in Indonesia, Sri Lanka and several countries in Africa speaks of its level of product quality and services. Dutron’s dealers in India are spread across almost every town throughout the country. The company has received several export awards from PLEXCONCIL of India in the past. It has achieved ISO 9001:2000 certification and is a BSE listed public company since 1994.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
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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