Asian Star Company Ltd - Stock Valuation and Financial Performance

BSE: 531847 | NSE: | Diamond & Jewellery | Small Cap

Asian Star Co Share Price

752.05 -17.90 -2.32%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Asian Star Co

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Asian Star Company stock performance -

mw4me loader
P/E Ratio (SA):
20.62
Market Cap:
1,203.8 Cr.
52-wk low:
627.8
52-wk high:
1,046.4

Is Asian Star Company Ltd an attractive stock to invest in?

1. Is Asian Star Company Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Asian Star Company Ltd is a average quality company.

2. Is Asian Star Company Ltd undervalued or overvalued?

The key valuation ratios of Asian Star Company Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Asian Star Company Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Asian Star Company Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Asian Star Co:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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.
Asian Star Company Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 5%4.3%4.1%4.4%4.3%4.2%3.3%4.3%4.8%5.2%-
Value Creation
Index
-0.6-0.7-0.7-0.7-0.7-0.7-0.8-0.7-0.7-0.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,2882,2742,3732,6972,8092,4502,1631,6873,0343,4272,823
Sales YoY Gr.--0.6%4.3%13.7%4.2%-12.8%-11.7%-22%79.8%12.9%-
Adj EPS 25.124.525.827.525.325.62034.839.641.236.5
YoY Gr.--2.2%5.4%6.4%-7.9%0.9%-21.8%74%13.9%4.1%-
BVPS (₹) 290.2313.2379.8404.9443.1467484.2513.3548.2582.5611.6
Adj Net
Profit
40.139.241.44440.540.93255.763.46658
Cash Flow from Ops. 50.822.357.9129114119115164-16246.1-
Debt/CF from Ops. 16.137.614.266.95.85.43-3.913.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 4.6%4.1%16.6%12.9%
Adj EPS 5.7%10.2%27.3%4.1%
BVPS8.1%5.6%6.4%6.3%
Share Price 2.1% 1.2% -1.5% 10.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
98.17.5765.64.277.57.36.1
Op. Profit
Mgn %
44.23.83.83.54.13.62.833.43.7
Net Profit
Mgn %
1.81.71.71.61.41.71.53.32.11.92.1
Debt to
Equity
1.81.71.41.21.10.90.80.60.70.7-
Working Cap
Days
189198203174169185191238150155109
Cash Conv.
Cycle
14815914312112414015117110310747

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 16.58%

Net Profit is growing at healthy rate in last 3 years 27.29%

Debt to equity has declined versus last 3 years average to 0.67

Return on Equity has declined versus last 3 years average to 6.10%

Sales growth is not so good in last 4 quarters at -17.82%

Latest Financials - Asian Star Company Ltd.

Standalone Consolidated
TTM EPS (₹) 36.5 47.5
TTM Sales (₹ Cr.) 2,823 3,615
BVPS (₹.) 611.6 931.7
Reserves (₹ Cr.) 963 1,475
P/BV 1.23 0.81
PE 20.62 15.85
From the Market
52 Week Low / High (₹) 627.75 / 1046.40
All Time Low / High (₹) 50.00 / 1614.20
Market Cap (₹ Cr.) 1,204
Equity (₹ Cr.) 16
Face Value (₹) 10
Industry PE 86.1

Management X-Ray of Asian Star Co:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Asian Star Co

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales2,2882,2742,3732,6972,8092,4502,1631,6873,0343,427
Operating Expenses 2,1982,1802,2842,5952,7102,3502,0911,6412,9463,321
Manufacturing Costs195216172193252270298204352363
Material Costs1,9511,8972,0462,3132,3451,9811,6871,3622,4882,835
Employee Cost 25313545615453465156
Other Costs 27353144524654315568
Operating Profit 91958910199101714688106
Operating Profit Margin (%) 4.0%4.2%3.7%3.8%3.5%4.1%3.3%2.7%2.9%3.1%
Other Income 9039119522134
Interest 322421273129214720
Depreciation 9151416161514131210
Exceptional Items 06-10-5-30-4-5-1
Profit Before Tax 59615667596142487779
Tax 18181623172114-51921
Profit After Tax 41434044424128535857
PAT Margin (%) 1.8%1.9%1.7%1.6%1.5%1.7%1.3%3.1%1.9%1.7%
Adjusted EPS (₹)25.527.025.127.826.025.317.333.036.435.8
Dividend Payout Ratio (%)6%6%6%5%6%6%9%5%4%4%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 464501608648709747775822877932
Share Capital 16161616161616161616
Reserves 448485592632693731759806861916
Minority Interest0000000000
Debt817839821779788688622494629626
Long Term Debt58472325234949515051
Short Term Debt759792798754765639573443579575
Trade Payables85199176278276185175274377404
Others Liabilities 112120153711177674636060
Total Liabilities 1,4801,6601,7581,7761,8901,6971,6461,6531,9422,024

Fixed Assets

Gross Block223232333343337338333329293283
Accumulated Depreciation55738196108120125134121120
Net Fixed Assets168160251247229218208195172163
CWIP 1727290000001
Investments 55688118125120888667
Inventories383546405562512457509413536694
Trade Receivables646683633638770634564614812729
Cash Equivalents 147146157178210202206236218249
Others Assets1159427663506139106118120
Total Assets 1,4801,6601,7581,7761,8901,6971,6461,6531,9422,024

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 512258129114119115164-16246
PBT 59615667596142487779
Adjustment 35342329453236-12334
Changes in Working Capital -22-54-155284553134-217-43
Tax Paid -20-19-20-21-18-19-17-7-26-24
Cash Flow From Investing Activity -23-14-15-41-27-9-12199
Capex -27-14-19-130-7-4-16-3
Net Investments 401-31-29-400109
Others 0033333332
Cash Flow From Financing Activity 7-10-31-67-59-118-110-135126-24
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 16-1122-227-12-11
Interest Paid -22-22-17-22-29-27-18-2-4-18
Dividend Paid -2-20-2-2-2-2-2-2-2
Others 1526-16-45-26-116-88-133133-5
Net Cash Flow 34-2112128-8430-1831
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)9.158.957.247.086.125.573.646.626.866.33
ROCE (%)7.266.555.576.576.156.194.433.825.936.44
Asset Turnover Ratio1.531.451.391.531.531.371.291.021.691.73
PAT to CFO Conversion(x)1.240.511.452.932.712.94.113.09-2.790.81
Working Capital Days
Receivable Days10010710186921051011278682
Inventory Days727573657072821005766
Payable Days25273336434239604850

Asian Star Company Ltd Stock News

Asian Star Company Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Asian Star Co on 28-Mar-2024 16:01 is ₹752.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Asian Star Co stood at ₹1,203.8.
The latest P/E ratio of Asian Star Co as of 28-Mar-2024 16:01 is 20.62.
The latest P/B ratio of Asian Star Co as of 28-Mar-2024 16:01 is 1.23.
The 52-week high of Asian Star Co is ₹1,046.4 and the 52-week low is ₹627.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Asian Star Co is ₹2,823 ( Cr.) .

About Asian Star Company Ltd

Established in 1971 and headquartered in Mumbai, Asian Star Company Limited is one of the world's leading integrated diamantaires. The Company straddles the entire value chain and has a formidable presence in diamond manufacturing, jewellery manufacturing and retailing.

The Parent Company has three wholly owned foreign subsidiaries - Asian Star DMCC, Asian Star Co. Ltd (USA) and Asian Star Trading (Hong Kong) Ltd. & one jointly controlled associate Partnership Firm in India - Shah Manufacturers.

The Parent Company, its subsidiaries and jointly controlled associate are engaged in the business of diamond cutting and polishing, jewellery manufacturing and retailing. The Parent Company is also engaged in the ownership, operation and maintenance of wind turbines for generation of electricity through wind power in India

Its team of qualified and skilled artisans exhibits the finest art of manufacturing the best polished makes from rough diamonds. Its technologically advanced manufacturing set-up in Surat, India.

Wide Area Network computerization, online manufacturing processes and eco-friendly environment elevate its infrastructure to a world-class level. All processes follow stringent quality norms and its management systems confirm with ISO 9001: 2015 certified by TUV NORD.

Business area of the company

The company is one of the world’s leading diamantaires primarily engaged in the business of diamond cutting and polishing, jewellery manufacturing and retailing. The company is also engaged in generation of electricity through wind power in India.

Awards and Achievements

  • 1992: Awarded 1st position for Highest Export - GJEPC.
  • 1992: Trophy for Meritorious Export Growth - Government of India.
  • 1993: 2nd Highest Exporter Award - GJEPC.
  • 1993: National Award for Highest Export Growth - The President of India.
  • 1994: Certificate of Merit for outstanding Export - Government of India.
  • 1996: 5th Highest Exporter Award - GJEPC.
  • 1988: 4th Highest Exporter Award - GJEPC.
  • 1999: 3rd Highest Exporter Award - GJEPC.
  • 1999: 12th position amongst Indian Exporters - FIEO.
  • 2000: Certificate of Excellence in Export - FIEO.
  • 2000: 5th Highest Exporter Award - GJEPC.
  • 2001: Niryat Shree/Niryat Bandhu Award -Silver Trophy - FIEO.
  • 2001: 1st Award for Highest Export - GJEPC.
  • 2002: Niryat Shree/Niryat Bandhu Award - Silver Trophy - FIEO.
  • 2002: Awarded 1st position for Highest Export - GJEPC.
  • 2003: Awarded 1st position for Highest Export - GJEPC.
  • 2003: 112th position in market cap - ET 500.
  • 2004: Awarded 1st position for Highest Export - GJEPC.
  • 2007: Won the Tahitian Pearl Trophy 2007.
  • 2007: Bagged the Solitaire Design Awards in the Pret (Futuristic) category.
  • 2008: Won the Solitaire Design Awards in the Daily Wear category.
  • 2008: Won the Gold Award at the 7th International South Sea Pearl Jewellery Design Competition in the Earrings category.
  • 2009: Shagun Jewels bagged the ‘The Retail Jeweller Awards 2009’ in the innovative Jewellery of the year category.
  • 2010: Asian Star bags First Award in the Export House category - Government of Maharashtra.
  • 2010: Won the Solitaire Design Awards in the Daily Wear category.
  • 2011: Awarded 1st prize in the Solitaire Design Awards 2011 for Formal Wear category.
  • 2012: Won the Rio Tinto Diamonds Global Design Competition under Champagne Diamonds category.
  • 2019: Ranked 476 in the “Top 500 Corporations of India” in 2019 by Fortune India.
  • 2020: The company’s designers Harjas Kaur, Namrata Bhardwaj  and Arif Hossain won the Artisan Awards; winning pieces were manufactured by A'Star Jewellery.
  • 2020: 'A2+' rating for short-term and 'A- ; Negative' rating for long-term bank facilities by CARE (Credit Analysis & Research Ltd.).
  • 2021: Ranked 359 in 'India's Top 500 Companies' by Dun and Bradstreet.
  • 2021: Awarded Certificate of Design Excellence by the Artisan Design Jewellery Awards 2021 as winner under Victorian Jewellery Category.
  • 2022: 'A2+' rating for short-term and 'A- ; Stable' rating for long-term bank facilities by CARE (Credit Analysis & Research Ltd.)

Milestones

  • 1991: Initiated its global distribution network.
  • 1995: Registered as Public Limited Company.
  • 1996: Initial public issue of Rs. 20 crores and listed on Bombay Stock Exchange.
  • 1996: Wholly-owned subsidiary in New York - Asian Star Co. Ltd.
  • 1998: ISO 9002 CERTIFICATE from RWTUV, GERMANY for quality system.
  • 2000: Initiated jewellery manufacturing operations for international market.
  • 2001: ISO 9001: 2000 CERTIFICATE from RWTUV, GERMANY.
  • 2001: Another wholly-owned subsidiary in Los Angeles - 'InterGem'.
  • 2004: Acquired equity stake in domestic brand 'Carbon'.
  • 2004: Expansion of its jewellery operations.
  • 2004: A'Star Jewellery set-up - Begun manufacturing operations for the domestic market.
  • 2004: A'Star Jewellery branches in Hyderabad and Bangalore.
  • 2005: A'Star Jewellery branch in Chennai.
  • 2005: Flagship stores in Bangalore and Delhi for brand ‘Carbon.’
  • 2006: Flagship stores in Mumbai, Hyderabad and Ghaziabad for brand ‘Carbon.’
  • 2007: A'Star Jewellery branches in Delhi, Chandigarh and Ahmedabad.
  • 2007: Enhanced set-up in Surat, measuring 65,000 sq. ft. for diamond processing.
  • 2008: Launched retail venture `Shagun Jewels`; opened the first store in Hyderabad.
  • 2008: Acquired additional premises at SEEPZ for international jewellery operations.
  • 2008: Wholly-owned subsidiary in Dubai - Inter Gems DMCC.
  • 2010: ISO 9001: 2008 CERTIFICATE from TUV NORD, Germany.
  • 2010: Expansion of the production capacity of domestic jewellery division by 50%.
  • 2010: Asian Star Jewels Pvt. Ltd., a wholly-owned jewellery subsidiary for international market, began its manufacturing operations.
  • 2010: New jewellery manufacturing unit at Hosur, Tamil Nadu.
  • 2011: Wholly-owned subsidiary in Hong Kong - Asian Star Trading (Hong Kong) Ltd.
  • 2011: A'Star Jewellery opened a Couture Diamond Boutique ex-factory at Mumbai.
  • 2012: Registered as a commercial member of the Responsible Jewellery Council (RJC).
  • 2013: Asian Star Co. Ltd.- Certified Member of the Responsible Jewellery Council (RJC).
  • 2013: Expansion of set-up in Surat to 100,000 sq. ft. area for diamond processing.
  • 2015: One amongst few to receive Strategic Supply from De Beers.
  • 2015: Long-term rough supply contracts with Alrosa, Dominion Diamond and Rio Tinto.
  • 2016: Approved Manufacturer of CanadaMark and Australian Diamonds.
  • 2017: Approved Manufacturer of Forevermark.
  • 2017: ISO 9001: 2015 CERTIFICATE from TUV NORD, Germany.
  • 2021: Approved Programme Participant of De Beers Code of Origin.
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