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Stylam Industries Ltd. Stock Analysis

Small Cap
Evaluated by 429 users | BSE: 526951 | NSE: |
Laminates/Decoratives
Golden Laminates Limited started as a private limited concern in 1991. It manufactures decorative laminated sheets for both home and industry use the company is charting a phenomenal growth pattern.The company initially engaged in the manufacture of luxury grade decorative laminated sheets for...

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.
Stylam Industries Ltd. has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 11.89%4.78%8.37%8.84%12.51%11.06%11.2%12.15%9.33%14.33%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 6483.2104140187214249294338461
Y-o-Y Gr. Rt.-29.9%25.3%34.6%33.7%14.3%16.5%18%14.8%36.3%
Adjusted EPS (Rs.) 3.782.313.675.8410.8812.8416.6626.4123.8443.12
Y-o-Y Gr. Rt.--38.9%58.9%59.1%86.3%18%29.8%58.5%-9.7%80.9%
Book Value per Share (Rs.) 26.3628.3932.4538.0347.3660.276.81104.6178.34221.43
Adjusted Net Profit 2.81.72.74.389.412.219.319.535.2
Net Op. Cash Flow (Rs. Cr.) -0.6-7.36.33.319.95.711.126.219.440
Debt to Cash Flow from Ops -27.02-4.757.0820.383.6914.2910.557.016.553.68
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.
Stylam Industries Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 24.5%19.7%22.7%36.3%
Adjusted EPS 31.1%31.7%37.3%80.9%
Book Value per Share 26.736.142.324.2
Share Price 50.3% 35.5% -4% 24.1%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) 15.148.4512.0716.5825.4823.8724.3229.1117.5321.57
Operating Profit Margin (%) 9.835.379.758.910.9610.6812.1215.5714.6616.83
Net Profit Margin (%) 4.322.032.583.054.254.394.896.575.767.64
Debt to Equity 0.811.671.872.382.121.862.082.40.870.81
Working Capital Days 122140148139112103113123137125
Cash Conversion Cycle 59819897766870798471
Entity Percentage Holding
Promoters 52.90%
Institutions 6.65%
Non-Institutions 40.45%
Pledged *41.1241.1241.1241.1241.1241.1241.1241.1223.2223.15
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Stylam Industries and arrived at the following conclusion:

Past 10 year's financial track record indicates that Stylam Industries is a below average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Stylam Industries's performance infers:

Stylam Industries earnings have grown by 31.7%, whereas share price has appreciated 35.5% 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 Stylam Industries share prices over the last 10 years. Here is what we found out:

Stylam Industries share price has appreciated 36.1% annually over the past ten years.

Golden Laminates Limited started as a private limited concern in 1991. It manufactures decorative laminated sheets for both home and industry use the company is charting a phenomenal growth pattern.

The company initially engaged in the manufacture of luxury grade decorative laminated sheets for both home and industry use, has now started manufacturing industrial as well as advanced grade laminates i.e. Postforming and Antistatic laminates under the brand name StYLAM.

Exports are already

Golden Laminates Limited started as a private limited concern in 1991. It manufactures decorative laminated sheets for both home and industry use the company is charting a phenomenal growth pattern.

The company initially engaged in the manufacture of luxury grade decorative laminated sheets for both home and industry use, has now started manufacturing industrial as well as advanced grade laminates i.e. Postforming and Antistatic laminates under the brand name StYLAM.

Exports are already being done in more than 40 countries in the Asia, Africa, Latin & North America, Middle East and Europe, while exclusive supply contracts with foreign manufacturers takes care of the imports.

They had started with the manufacture of high pressure decorative laminates but over the years with the backing of experienced staff and good infrastructure they have developed many products like paper based industrial laminates used by the PCB manufacturers, piano manufacturers, and in the electric industry.

Golden Laminates Limited (GLL) is a public limited company listed on three stock exchanges of India and is managed by Board of Directors.The present installed capacity of GLL is more than 3.5 million sheets of laminates.  GLL manufactures laminates in the size of 1220mm x 2440mm, 1225mm x 2500mm, 1300 x 2800mm, 1300mm x 3050mm in thicknesses ranging from 0.5 mm to 20.0 mm in different finished such as gloss, matt, suede & texture etc. in more than 600 designs.

GLL has imported moulds of various finishes from France and Germany. The sanding of the laminates is done on the sanding machine imported from IMEAS s.p.a., Italy, one of the best manufacturers of sanding machines in the world.

The company has an ultra modern plant at Panchkula near the City Beautiful, Chandigarh, in North India. Quality being at the core of operations (latest sophisticated moulds of various finishes have been imported from France & Germany), GLL has been certified an ISO 9001:2000 Company and also been recognized as Export House by Government of India.

With an experienced marketing team at the helm of affairs and a team of qualified professionals overseeing the day to day activities, Golden Laminates is rapidly covering the road of success.

Product range of the company includes:

  • High Pressure Decorative Laminates - Golden Laminates Limited is manufacturing High Pressure Laminates designed for both horizontal and vertical applications where appearance, durability, resistance to stains and heat upto 275°F is required. Being substitute to wood, these products contribute to environment preservations as well as offer a more practical alternative for decor and electrical fittings etc.     - Post Forming Grade      - Compact      - Fire Retardant
  • Industrial Laminates Paper Based - Golden Laminates Unclad Industrial Laminates for wide-ranging electronic and electrical applications.Industrial Laminates Fabric Based.
  • Phenolic Becker - Phenolic becker sheets are manufactured by using Kraft paper as reinforcement with specially formulated Phenolic resin as bonding media. These sheets are used as backup material for drilling in circuit boards. There is no chipping while drilling with a drill bit as low as 0.3mm in diameter, making these sheets perfect for PCB drilling.

Subsidiary: Golden Chemtech Ltd- Golden Chemtech Ltd., Ramgarh was incorporated in the year 2000. The company presently manufactures basic grade of adhesives for application in furniture industry but plans to manufacture whole range of adhesives as per the needs of manufacturing sector all over the world.

Achievements/ recognition:

  • An ISO 9001 Company.
  • Golden Laminates Limited (GLL) is a public limited company listed on three stock exchanges of India.
  • Recognized as Export House by Government of India.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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