BSE: 590068 | NSE: KHAITANLTD | Consumer Durables - Electronics | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Khaitan (India) Ltd is a average quality company.
The key valuation ratios of Khaitan (India) 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 Khaitan (India) 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'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -1.2% | -6.1% | 7.2% | 5.2% | 5% | -5.5% | 1.1% | -0.7% | 12% | 15.6% | - |
| Value Creation Index ⓘ | -1.1 | NA | -0.5 | -0.6 | -0.6 | -1.4 | -0.9 | -1.1 | -0.1 | 0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 26.7 | 9.1 | 15.7 | 79.1 | 100 | 56.7 | 45.3 | 52.3 | 59.5 | 58.4 | 68 |
| Sales YoY Gr. | - | -65.8% | 72.6% | 402.4% | 26.8% | -43.5% | -20.1% | 15.4% | 13.8% | -1.8% | - |
| Adj EPS ⓘ | -12.2 | -16.3 | 5.3 | 3.5 | 1.2 | -10.3 | -12.2 | -6.9 | -0.6 | 2.9 | 11.6 |
| YoY Gr. | - | NA | NA | -34.3% | -64.3% | -933.1% | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 12 | -3.9 | 88 | 78.1 | 73.9 | 50.2 | 42.4 | 36.8 | 39.2 | 42.6 | 50.1 |
| Adj Net Profit ⓘ | -5.8 | -7.7 | 2.5 | 1.7 | 0.6 | -4.9 | -5.8 | -3.3 | -0.3 | 1.4 | 6 |
| Cash Flow from Ops. ⓘ | -0.7 | 0.6 | 11 | 1.9 | 17.9 | 3.3 | 4.7 | 6.2 | 7.5 | 0.8 | - |
| Debt/CF from Ops. ⓘ | -67.5 | 78.3 | 3 | 19.7 | 1.2 | 6 | 3.8 | 2.5 | 1.4 | 14.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 9.1% | -10.3% | 8.8% | -1.8% | ||||
| Adj EPS ⓘ | NA | 18.1% | NA | NA | ||||
| BVPSⓘ | 15.1% | -10.4% | 0.2% | 8.6% | ||||
| Share Price | 28% | 33.9% | 31.8% | 38.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -11.7 | -18 | 6.2 | 4.2 | 1.6 | -16.7 | -26.2 | -17.5 | -1.6 | 7 | 25.1 |
| Op. Profit Mgn % ⓘ | 1.4 | -20.3 | 15.2 | 2.7 | 4.6 | -2.4 | 4.1 | -0.9 | 0.1 | 6.9 | 8.7 |
| Net Profit Mgn % ⓘ | -21.8 | -84.8 | 15.9 | 2.1 | 0.6 | -8.7 | -12.8 | -6.3 | -0.5 | 2.3 | 8.1 |
| Debt to Equity ⓘ | 8.2 | -25 | 0.8 | 1 | 0.6 | 0.8 | 0.9 | 0.9 | 0.6 | 0.6 | - |
| Working Cap Days ⓘ | 320 | 835 | 474 | 156 | 154 | 210 | 203 | 166 | 136 | 126 | 43 |
| Cash Conv. Cycle ⓘ | 131 | 362 | -1 | 5 | 0 | -28 | -54 | -37 | -32 | -63 | -74 |
Return on Equity has increased versus last 3 years average to 25.10%
Debt to equity has declined versus last 3 years average to 0.58
Sales growth is good in last 4 quarters at 23.33%
Sales growth has been subdued in last 3 years 8.84%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 11.6 | - |
| TTM Sales (₹ Cr.) | 68 | - |
| BVPS (₹.) ⓘ | 50.1 | - |
| Reserves (₹ Cr.) ⓘ | 19 | - |
| P/BV ⓘ | 1.73 | - |
| PE ⓘ | 7.46 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 57.39 / 127.71 |
| All Time Low / High (₹) | 5.32 / 127.71 |
| Market Cap (₹ Cr.) | 41.1 |
| Equity (₹ Cr.) | 4.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 129.3 |
| Pledged * | 32.85 | 32.85 | 32.85 | 32.85 | 32.85 | 32.85 | 32.85 | 32.85 | 32.85 | 32.85 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 26.65 | 9.12 | 15.74 | 79.08 | 100.25 | 56.65 | 45.27 | 52.26 | 59.46 | 58.37 |
| Operating Expenses ⓘ | 26.29 | 10.97 | 13.36 | 76.96 | 95.60 | 58.01 | 43.40 | 52.73 | 59.41 | 54.34 |
| Manufacturing Costs | 6.12 | 3.33 | 2.37 | 1.60 | 0.87 | 0.76 | 0.71 | 1.09 | 0.44 | 0.43 |
| Material Costs | 16.71 | 4.75 | 8.02 | 62.11 | 77.18 | 44.90 | 33.47 | 40.14 | 45.68 | 40.53 |
| Employee Cost | 2.94 | 2.41 | 2.24 | 8.20 | 8.96 | 6.59 | 5.57 | 5.58 | 6.44 | 6.88 |
| Other Costs ⓘ | 0.52 | 0.49 | 0.73 | 5.05 | 8.59 | 5.76 | 3.66 | 5.92 | 6.85 | 6.50 |
| Operating Profit ⓘ | 0.36 | -1.85 | 2.39 | 2.12 | 4.65 | -1.36 | 1.86 | -0.47 | 0.04 | 4.03 |
| Operating Profit Margin (%) | 1.3% | -20.3% | 15.2% | 2.7% | 4.6% | -2.4% | 4.1% | -0.9% | 0.1% | 6.9% |
| Other Income ⓘ | 0.78 | 0.66 | 4.04 | 3.82 | 0.43 | 0.44 | 0.39 | 2.01 | 5.63 | 1.20 |
| Interest ⓘ | 4.85 | 4.61 | 1.78 | 2.21 | 2.68 | 2.18 | 2.95 | 3.03 | 3.02 | 3.39 |
| Depreciation ⓘ | 1.77 | 1.76 | 2.14 | 2.07 | 1.81 | 1.81 | 1.80 | 1.80 | 1.97 | 0.49 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -5.49 | -7.56 | 2.51 | 1.66 | 0.59 | -4.91 | -2.50 | -3.29 | 0.68 | 1.34 |
| Tax ⓘ | 0.10 | 0 | 0 | 0 | 0 | 0 | 3.26 | 0 | 0 | 0 |
| Profit After Tax | -5.59 | -7.56 | 2.51 | 1.66 | 0.59 | -4.91 | -5.77 | -3.29 | 0.68 | 1.34 |
| PAT Margin (%) | -21.0% | -82.9% | 15.9% | 2.1% | 0.6% | -8.7% | -12.7% | -6.3% | 1.1% | 2.3% |
| Adjusted EPS (₹) | -11.8 | -15.9 | 5.3 | 3.5 | 1.3 | -10.3 | -12.1 | -6.9 | 1.4 | 2.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 46.66 | 39.10 | 41.81 | 37.12 | 35.10 | 23.84 | 20.14 | 17.49 | 18.63 | 20.24 |
| Share Capital ⓘ | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| Reserves ⓘ | 41.91 | 34.35 | 37.06 | 32.37 | 30.35 | 19.09 | 15.39 | 12.74 | 13.88 | 15.49 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 46.67 | 46.08 | 33.08 | 36.62 | 21.32 | 19.77 | 17.79 | 15.39 | 10.24 | 11.72 |
| Long Term Debt | 14.49 | 14.72 | 10.60 | 30.47 | 15.85 | 14.87 | 13.85 | 11.29 | 6.09 | 7.66 |
| Short Term Debt | 32.19 | 31.36 | 22.48 | 6.15 | 5.47 | 4.90 | 3.95 | 4.09 | 4.16 | 4.06 |
| Trade Payables | 4.64 | 3.37 | 10.74 | 24.51 | 30.79 | 23.06 | 20.56 | 20.16 | 21.17 | 20.09 |
| Others Liabilities ⓘ | 1.62 | 2.94 | 5.83 | 12.71 | 13.71 | 13.49 | 19.95 | 23.55 | 21.36 | 17.77 |
| Total Liabilities ⓘ | 99.60 | 91.48 | 91.47 | 110.96 | 100.91 | 80.17 | 78.44 | 76.57 | 71.40 | 69.83 |
Fixed Assets | ||||||||||
| Gross Block | 82.50 | 82.89 | 58.09 | 58.10 | 58.03 | 58.06 | 60.69 | 60.56 | 60.91 | 60.88 |
| Accumulated Depreciation | 23.07 | 24.70 | 2.14 | 4.21 | 6.02 | 7.83 | 9.62 | 11.42 | 13.39 | 13.88 |
| Net Fixed Assetsⓘ | 59.43 | 58.19 | 55.95 | 53.89 | 52.01 | 50.23 | 51.06 | 49.14 | 47.52 | 47 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 16.50 | 13.32 | 13.57 | 11.33 | 9.91 | 3.39 | 2.89 | 2.89 | 2.46 | 2.46 |
| Inventories | 13.70 | 10.62 | 2.49 | 8.99 | 6.73 | 5.48 | 5.33 | 3.83 | 5.69 | 5.50 |
| Trade Receivables | 0.69 | 0.60 | 1.87 | 22.48 | 22.67 | 11.84 | 10.33 | 12.32 | 8.89 | 6.72 |
| Cash Equivalents | 0.45 | 0.39 | 0.05 | 0.09 | 0.22 | 0.10 | 0.12 | 0.41 | 0.32 | 0.05 |
| Others Assetsⓘ | 8.82 | 8.38 | 17.54 | 14.19 | 9.37 | 9.13 | 8.70 | 7.98 | 6.53 | 8.11 |
| Total Assets ⓘ | 99.60 | 91.48 | 91.47 | 110.96 | 100.91 | 80.17 | 78.44 | 76.57 | 71.40 | 69.83 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -0.69 | 0.59 | 10.95 | 1.86 | 17.91 | 3.29 | 4.69 | 6.22 | 7.48 | 0.83 |
| PBT ⓘ | -5.59 | -7.56 | 2.51 | 1.66 | 0.59 | -4.91 | -2.50 | -3.29 | 0.68 | 1.34 |
| Adjustment ⓘ | 6.04 | 5.74 | -0.05 | 3.66 | 4.10 | 3.65 | 4.43 | 4.15 | 3.99 | 3.04 |
| Changes in Working Capital ⓘ | -1.14 | 2.41 | 8.5 | -3.46 | 13.22 | 4.55 | 6.03 | 5.36 | 2.81 | -3.54 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -3.26 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 0.45 | 3.27 | 0.19 | -3.15 | 0.21 | 0.31 | 0.26 | -1.02 | 0.01 | 0.30 |
| Capex | 0.14 | -0.41 | -0.15 | 0 | -0.19 | -0.03 | -0.06 | -1.17 | -0.41 | -0.05 |
| Net Investments | 0 | 3.32 | 0 | -3.76 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0.30 | 0.35 | 0.34 | 0.61 | 0.39 | 0.34 | 0.32 | 0.16 | 0.42 | 0.36 |
| Cash Flow From Financing Activityⓘ | 0.36 | -3.92 | -11.15 | 1.34 | -17.98 | -3.73 | -4.93 | -4.91 | -7.59 | -1.40 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 19.87 | -14.62 | -0.98 | -1.03 | -2.55 | -5.21 | 1.58 |
| Interest Paid ⓘ | -4.84 | -4.60 | -1.77 | -2.21 | -2.68 | -2.18 | -2.95 | -2.50 | -2.45 | -2.88 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 5.20 | 0.69 | -9.38 | -16.32 | -0.69 | -0.57 | -0.95 | 0.15 | 0.06 | -0.10 |
| Net Cash Flow ⓘ | 0.11 | -0.06 | -0.01 | 0.04 | 0.13 | -0.12 | 0.02 | 0.29 | -0.09 | -0.26 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -62.3 | -390.67 | 12.55 | 4.2 | 1.64 | -16.64 | -26.23 | -17.46 | 3.76 | 6.89 |
| ROCE (%) | -1.18 | -6.1 | 7.2 | 5.2 | 5.02 | -5.46 | 1.1 | -0.73 | 11.99 | 15.56 |
| Asset Turnover Ratio | 0.27 | 0.1 | 0.17 | 0.78 | 0.95 | 0.63 | 0.57 | 0.67 | 0.8 | 0.83 |
| PAT to CFO Conversion(x) | N/A | N/A | 4.36 | 1.12 | 30.36 | N/A | N/A | N/A | 11 | 0.62 | Working Capital Days |
| Receivable Days | 9 | 25 | 28 | 56 | 82 | 111 | 89 | 79 | 65 | 49 |
| Inventory Days | 194 | 474 | 150 | 27 | 29 | 39 | 44 | 32 | 29 | 35 |
| Payable Days | 112 | 307 | 321 | 104 | 131 | 219 | 238 | 185 | 165 | 186 |
Khaitan India is a part of Khaitan group, is in the business of manufacturing sugar and cane cultivation. The company was incorporated in 1936.
The company has a sugar unit at Plassey in Murshidabad district of West Bengal, which currently has a crushing capacity of 1,200 tons per day (TCD). The capacity is planned to go up to 1,500 TCD by 2007 and to 2,000 TCD by 2008. The company is installing a turbine to reduce fuel cost.
The company's agriculture division has 8,000 acres of land near its sugar unit, where a total of about 302,699 trees have been planted in the last 15 years. The plantations include litchi, mango, teak and kadam. It is estimated that after 10 years, the plantations might be valued anywhere between Rs 3,000 million and Rs 5,000 million.
The company has a 35% stake in Khaitan Electricals. It earns royalty income from the Khaitan brand name despite discontinuing marketing activities of KEL products.
Business areas of the company
The company works under three segments, namely, Marketing division, Sugar Division and Agriculture division.
Marketing division used to market various products like lamps, bulbs, luminaries, home appliances, MCB, wires and other products.
Sugar division segment involved in manufacturing of sugar by using sugarcane.
Agriculture division segment engaged in growing and supplying of sugarcane.
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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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