BSE: 531879 | NSE: PIONDIST | Breweries & Distilleries | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Pioneer Distilleries Ltd. - (Amalgamated) is a below average quality company.
The key valuation ratios of Pioneer Distilleries Ltd. - (Amalgamated)'s currently when compared to its past seem to suggest it is in the Fair zone.
No data found
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -23.9% | -14.4% | 172.3% | -671.1% | -16.6% | 32.7% | -13% | -40.3% | -30.9% | -31.4% | - |
| Value Creation Index ⓘ | NA | NA | NA | -48.9 | NA | 1.3 | NA | NA | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 104 | 146 | 182 | 190 | 113 | 302 | 138 | 172 | 167 | 212 | 226 |
| Sales YoY Gr. | - | 40.7% | 24.7% | 4.4% | -40.5% | 167% | -54.1% | 24% | -2.4% | 26.5% | - |
| Adj EPS ⓘ | -20.8 | -15.9 | -16.2 | 16.4 | -22.5 | 51.3 | -50.1 | -110.8 | -64.9 | -53.8 | -53.3 |
| YoY Gr. | - | NA | NA | NA | -237.3% | NA | -197.7% | NA | NA | NA | - |
| BVPS (₹) ⓘ | -22.9 | -43.4 | -68.4 | -11 | -33.5 | 19.1 | -31.1 | -142.3 | -207.5 | -261.2 | -292.5 |
| Adj Net Profit ⓘ | -27.9 | -21.3 | -21.7 | 21.9 | -30.1 | 68.7 | -67.1 | -148 | -86.8 | -72.1 | -71 |
| Cash Flow from Ops. ⓘ | 9.8 | 58.2 | 77.9 | 50.6 | 34.8 | -14.3 | -90.9 | 29.3 | 5.3 | 24.2 | - |
| Debt/CF from Ops. ⓘ | 11 | 1.6 | 0.8 | 0.6 | 6.6 | -21.4 | -4.7 | 14.5 | 87.4 | 19.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 8.3% | 13.4% | 15.2% | 26.5% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | NA | NA | NA | NA | ||||
| Share Price | 11.1% | 5% | 21.9% | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 146.9 | 48 | 28.9 | -41.3 | 101.1 | -712.8 | 835.9 | 127.9 | 37.1 | 23 | 19.3 |
| Op. Profit Mgn % ⓘ | -7.5 | 5.8 | 15.8 | 42.8 | 2.8 | 52.4 | -17 | -9.2 | -14.7 | -3.3 | -2.2 |
| Net Profit Mgn % ⓘ | -26.9 | -14.6 | -11.9 | 11.6 | -26.6 | 22.8 | -48.5 | -86.5 | -51.9 | -34 | -31.6 |
| Debt to Equity ⓘ | -3.5 | -1.6 | -0.7 | -2 | -5.1 | 12 | -10.2 | -2.2 | -1.7 | -1.4 | - |
| Working Cap Days ⓘ | 291 | 231 | 170 | 257 | 443 | 260 | 749 | 555 | 485 | 338 | 81 |
| Cash Conv. Cycle ⓘ | 63 | 31 | 13 | -3 | 61 | 11 | 85 | 125 | 145 | 97 | -296 |
No data to display
Return on Equity has declined versus last 3 years average to %
Sales growth has been subdued in last 3 years %
Sales growth is not so good in last 4 quarters at %
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -53.3 | - |
| TTM Sales (₹ Cr.) | 226 | - |
| BVPS (₹.) ⓘ | -292.5 | - |
| Reserves (₹ Cr.) ⓘ | -405 | - |
| P/BV ⓘ | -0.62 | - |
| PE ⓘ | 0.00 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 166.00 / 181.50 |
| All Time Low / High (₹) | 9.55 / 410.00 |
| Market Cap (₹ Cr.) | 242 |
| Equity (₹ Cr.) | 13.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 71.6 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 103.63 | 145.78 | 181.78 | 189.83 | 113 | 301.73 | 138.38 | 171.54 | 167.40 | 211.70 |
| Operating Expenses ⓘ | 111.39 | 137.30 | 153.02 | 108.56 | 109.87 | 143.58 | 161.85 | 188.51 | 192.07 | 218.57 |
| Manufacturing Costs | 7.75 | 7.30 | 9.85 | 10.86 | 20.49 | 18.67 | 23.73 | 28.46 | 33.21 | 29.55 |
| Material Costs | 93.95 | 117.48 | 126.65 | 77.59 | 73.84 | 102.63 | 93.56 | 136.99 | 133.09 | 160.28 |
| Employee Cost | 4.83 | 6.09 | 8.28 | 11.29 | 7.66 | 10.53 | 10.15 | 11.07 | 12.84 | 16.15 |
| Other Costs ⓘ | 4.86 | 6.43 | 8.24 | 8.83 | 7.87 | 11.75 | 34.41 | 11.99 | 12.93 | 12.59 |
| Operating Profit ⓘ | -7.76 | 8.48 | 28.76 | 81.27 | 3.14 | 158.15 | -23.47 | -16.97 | -24.67 | -6.87 |
| Operating Profit Margin (%) | -7.5% | 5.8% | 15.8% | 42.8% | 2.8% | 52.4% | -17.0% | -9.9% | -14.7% | -3.2% |
| Other Income ⓘ | 0.02 | 0.01 | 0.66 | 0.01 | 0.04 | 2.81 | 4.37 | 8.34 | 3.37 | 3.14 |
| Interest ⓘ | 10.30 | 19.10 | 39.24 | 24.01 | 19.32 | 22.54 | 29.36 | 33.59 | 32.13 | 33.86 |
| Depreciation ⓘ | 9.27 | 10.68 | 23.87 | 25.53 | 27.33 | 36.61 | 48.61 | 46.90 | 33.14 | 34.37 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -27.31 | -21.30 | -33.68 | 31.75 | -43.47 | 101.81 | -97.07 | -89.12 | -86.57 | -71.96 |
| Tax ⓘ | 0.54 | 0 | -12.03 | 9.83 | -13.39 | 31.80 | -29.99 | 60.07 | 0 | 0 |
| Profit After Tax | -27.86 | -21.30 | -21.65 | 21.92 | -30.08 | 70.01 | -67.08 | -149.19 | -86.57 | -71.96 |
| PAT Margin (%) | -26.9% | -14.6% | -11.9% | 11.5% | -26.6% | 23.2% | -48.5% | -87.0% | -51.7% | -34.0% |
| Adjusted EPS (₹) | -20.8 | -15.9 | -16.2 | 16.4 | -22.5 | 52.3 | -50.1 | -111.0 | -64.7 | -53.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | -30.61 | -58.10 | -91.58 | -14.65 | -44.85 | 25.58 | -41.63 | -190.48 | -277.85 | -349.75 |
| Share Capital ⓘ | 13.42 | 13.42 | 13.42 | 13.42 | 13.42 | 13.42 | 13.42 | 13.42 | 13.42 | 13.42 |
| Reserves ⓘ | -44.03 | -71.52 | -105 | -28.07 | -58.27 | 12.16 | -55.05 | -203.90 | -291.27 | -363.17 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 86.61 | 67.26 | 45.88 | 18.64 | 227.87 | 303.45 | 422.54 | 422.45 | 456.51 | 475.40 |
| Long Term Debt | 71.67 | 52.20 | 32.24 | 15.87 | 148.18 | 145.53 | 141.71 | 139.45 | 137.60 | 136.27 |
| Short Term Debt | 14.94 | 15.06 | 13.64 | 2.76 | 79.69 | 157.92 | 280.83 | 283 | 318.91 | 339.13 |
| Trade Payables | 26.97 | 24.90 | 28.21 | 12.66 | 22.87 | 22.07 | 22.16 | 19.76 | 16.39 | 27.28 |
| Others Liabilities ⓘ | 209.81 | 294.52 | 366.19 | 316.85 | 206.99 | 222.19 | 115 | 191.06 | 205.54 | 221.77 |
| Total Liabilities ⓘ | 292.78 | 328.59 | 348.69 | 333.50 | 412.88 | 573.29 | 518.07 | 442.79 | 400.59 | 374.70 |
Fixed Assets | ||||||||||
| Gross Block | 184.33 | 260.88 | 270.02 | 189.70 | 219.57 | 367.48 | 376.70 | 371.88 | 394.55 | 408.83 |
| Accumulated Depreciation | 48.19 | 70.70 | 94.57 | 25.53 | 52.86 | 89.42 | 136.87 | 177.50 | 203.36 | 233.39 |
| Net Fixed Assetsⓘ | 136.14 | 190.18 | 175.45 | 164.17 | 166.72 | 278.06 | 239.83 | 194.38 | 191.19 | 175.44 |
| CWIP ⓘ | 65.10 | 42.06 | 39.59 | 31.80 | 108.08 | 3.51 | 1.27 | 2.36 | 10.18 | 6.01 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 39.39 | 37.78 | 47.88 | 12.69 | 54.43 | 41 | 57.54 | 91.42 | 70.84 | 79.53 |
| Trade Receivables | 1.08 | 0.89 | 0.32 | 0.74 | 1.42 | 0.19 | 0.11 | 0.01 | 0 | 0 |
| Cash Equivalents | 0.62 | 1.47 | 2.10 | 0.74 | 0.33 | 0.22 | 0.27 | 0.74 | 0.01 | 0.01 |
| Others Assetsⓘ | 50.44 | 56.21 | 83.34 | 123.35 | 81.90 | 250.31 | 219.05 | 153.88 | 128.37 | 113.71 |
| Total Assets ⓘ | 292.78 | 328.59 | 348.69 | 333.50 | 412.88 | 573.29 | 518.07 | 442.79 | 400.59 | 374.70 |
| PARTICULARS | Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 9.78 | 58.21 | 77.93 | 50.59 | 34.75 | -14.28 | -90.92 | 29.28 | 5.25 | 24.22 |
| PBT ⓘ | -27.31 | -21.30 | -33.68 | 31.75 | -43.47 | 101.81 | -97.07 | -89.12 | -86.57 | -71.96 |
| Adjustment ⓘ | 19.58 | 29.79 | 64.60 | 50.83 | 46.61 | 56.71 | 100.49 | 73.62 | 64.63 | 64.93 |
| Changes in Working Capital ⓘ | 18.06 | 49.71 | 47.01 | -31.6 | 31.83 | -159.85 | -94.34 | 44.78 | 27.23 | 31.6 |
| Tax Paid ⓘ | -0.54 | 0 | 0 | -0.38 | -0.22 | -12.95 | 0 | 0 | -0.04 | -0.35 |
| Cash Flow From Investing Activity ⓘ | -36.07 | -38.68 | -18.51 | -6 | -92.84 | -50.69 | -11.38 | -4.95 | -17.27 | -18.44 |
| Capex | -36.07 | -38.68 | -18.51 | -6.04 | -92.86 | -50.70 | -11.40 | -4.95 | -17.27 | -18.44 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0.04 | 0.02 | 0.01 | 0.02 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 25.06 | -18.69 | -58.80 | -45.94 | 57.68 | 64.86 | 102.35 | -23.86 | 11.29 | -5.78 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 35.05 | 6.18 | -19.95 | 0 | 0 | 0 | 0 | 0 | -3.02 | -2.34 |
| Interest Paid ⓘ | -10.30 | -19.12 | -39.23 | -9.38 | -7.14 | -11.58 | -17.91 | -22.20 | -21.60 | -23.66 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0.31 | -5.76 | 0.38 | -36.56 | 64.82 | 76.44 | 120.26 | -1.66 | 35.91 | 20.22 |
| Net Cash Flow ⓘ | -1.23 | 0.85 | 0.63 | -1.36 | -0.41 | -0.11 | 0.05 | 0.47 | -0.73 | 0 |
| PARTICULARS | Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | 0 | N/A | N/A | N/A | N/A |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | 48.15 | N/A | N/A | N/A | N/A |
| Asset Turnover Ratio | 0.38 | 0.47 | 0.72 | 0.56 | 0.3 | 0.61 | 0.25 | 0.36 | 0.4 | 0.55 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | 2.31 | N/A | -0.2 | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 8 | 2 | 1 | 1 | 3 | 1 | 0 | 0 | 0 | 0 |
| Inventory Days | 111 | 96 | 64 | 58 | 108 | 58 | 130 | 158 | 177 | 130 |
| Payable Days | 71 | 81 | 77 | 96 | 88 | 80 | 86 | 56 | 50 | 50 |
Pioneer Distilleries was originally incorporated as a public limited company on November, 25, 1992 under the name ‘Ganga Orgchem Limited’. Subsequently the name of the company was changed to Pioneer Distilleries. The registered office of the company is situated in Nanded District in Maharashtra .
Promoted by K.V. Rajeshwar Rao, K. Sudhir Rao, K. Suhan Rao and L. Venkateswara Rao, the company began its commercial production in the year 1999. Since then under the able guidance and expertise of the promoters coupled with continued support and co-operation from other independent directors and institutional nominees on the board, the company has been able to strengthen its performance and embark upon expansion programmes. In the year 1994, the company embarked upon setting up a stand alone distillery with the main objective to manufacture Extra Neutral Alcohol (ENA) Rectified Spirit (RS) and Special Denatured Spirit (SDS) with a total capacity of 150 lakh litres per annum. In 1996, to raise resources, the company made public issue of equity shares thus taking into its fold resident, non resident and institutional investors. The company is now listed with the Stock Exchange, Mumbai and the Pune Stock Exchange Limited.
PDL’s plant is at Nanded Maharashtra, which is located near many sugar factories that ensure regular and cheap supply of its raw material i.e. molasses. During FY07, company doubled its production capacity from 50 KLPD to 100 KLPD (kilo litres per day) and is currently running at 100% capacity utilization. Hence it is planning to further double the installed capacity to 200 KLPD for which statutory permission from the excise has been received.
On the back of increased demand for ethanol product from petroleum companies, PDL is also contemplating to increase the capacity of ethanol plant from 30,000 to 130,000 ltrs per day. In addition it is also looking to set up acetic acid plant of 30 MT per day and ethyl acetate of 20 MT per day capacity. Apart from all these, company is setting up a 5 MW biogas based power generation project and additional effluent treatment plant to become a zero discharge company in the future. Both of these are expected to commence operation by August 2008 through a capex of Rs 40 cr. Notably, PDL is entitled to get carbon credits for its biogas power project and hence is in the process of tying up with a reputed organization based in UK for getting the registration with UNFCCC. However the power generated will be sold to Maharashtra power grid thereby generating extra source of income.
Product range of the company includes:
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