Varun Industries Ltd - Stock Valuation and Financial Performance

Name: Varun Industries
Brand: Varun Industries

BSE: 532917 | NSE: VARUN | Household & Personal Products | Small Cap

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Varun Industries stock performance -

PE Chart Key Ratios

P/E Ratio (SA):

0.00

Market Cap:

4.7 Cr.

52-wk low:

1.6

52-wk high:

1.7

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10 Year X-Ray of Varun Industries:

Analysis of Financial Track Record

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

Standalone Basis ^P Consolidated Basis ^P

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'04	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09	Mar'10	Mar'11	Mar'12	Mar'13	TTM
ROCE % ⓘ	5.8%	9%	8.7%	10.8%	6.9%	7.8%	7%	7.8%	-0.9%	4.3%	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	375	574	608	760	890	1,220	1,536	2,941	3,111	168	84
Sales YoY Gr.	-	52.9%	5.9%	25.1%	17.1%	37.2%	25.8%	91.5%	5.8%	-94.6%	-
Adj EPS ⓘ	4.3	10.1	10.7	15.8	8.3	15.7	10.8	13.5	-32.7	-24.4	-17.7
YoY Gr.	-	133.7%	6%	46.9%	-47.7%	90.8%	-31.2%	24.3%	-342.6%	NA	-
BVPS (₹) ⓘ	52	60.7	67.7	77.4	170.8	79.5	78	81.1	26.9	15	3.8
Adj Net Profit ⓘ	5.7	13.3	14.1	20.7	18.3	34.8	23.9	39.2	-95.1	-71	-52
Cash Flow from Ops. ⓘ	-20.3	-0.6	-24.1	38.3	29.4	43.5	128	432	-235	-15.5	-
Debt/CF from Ops. ⓘ	-5	-247.1	-8.5	8.9	15.4	15.4	6.5	2.2	-5.3	-117.9	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-8.5%	-28.3%	-52.1%	-94.6%
Adj EPS ⓘ	-221.2%	-224.2%	-231.1%	NA
BVPSⓘ	-12.9%	-38.5%	-42.3%	-44.1%
Share Price	-	-	-	-

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'04	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09	Mar'10	Mar'11	Mar'12	Mar'13	TTM
Return on Equity % ⓘ	8.3	17.9	16.7	21.7	7.6	9.2	6	9	-25.1	-24.9	-188.6
Op. Profit Mgn % ⓘ	2.4	3.9	5.5	7.8	7.8	9.3	8.5	5.3	1.5	5.1	-16.6
Net Profit Mgn % ⓘ	1.5	2.3	2.3	2.7	2.1	2.9	1.6	1.3	-3.1	-42.2	-61.2
Debt to Equity ⓘ	1.5	1.8	2.3	3.4	1.2	3.8	4.8	4	16	41.9	-
Working Cap Days ⓘ	0	117	161	157	177	182	196	149	185	3,829	4,551
Cash Conv. Cycle ⓘ	0	78	96	104	127	135	141	77	97	2,756	2,577

Recent Performance Summary

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 %

Latest Financials - Varun Industries Ltd.

	Standalone	Consolidated
TTM EPS (₹)	-17.7	-15.2
TTM Sales (₹ Cr.)	84.4	187
BVPS (₹.) ⓘ	3.8	13.8
Reserves (₹ Cr.) ⓘ	-18	11
P/BV ⓘ	0.42	0.12
PE ⓘ	0.00	0.00

From the Market
52 Week Low / High (₹)	1.61 / 1.70
All Time Low / High (₹)	1.57 / 295.15
Market Cap (₹ Cr.)	4.7
Equity (₹ Cr.)	29.1
Face Value (₹)	10
Industry PE ⓘ	56.1

Management X-Ray of Varun Industries:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

33.35

33.10

32.53

30.48

30.07

29.46

25.14

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

Valuation of Varun Industries

Analyst's Notes

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Key Ratios of Varun Industries

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'04	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09	Mar'10	Mar'11	Mar'12	Mar'13
Sales	375.10	573.63	607.57	759.97	889.59	1,220.43	1,535.78	2,941.29	3,111.09	168.34
Operating Expenses ⓘ	366.26	551.18	574.58	702.28	820.49	1,138.29	1,406.07	2,785.62	3,065.73	159.73
Manufacturing Costs	11.28	12.96	7.87	5.89	27.15	28.63	22.01	27.68	35.93	15.10
Material Costs	337.07	515.87	550.98	673.14	764.11	1,030.64	1,344.96	2,717.04	2,971.87	122.17
Employee Cost	1.23	1.42	2.13	4.55	7.11	8.72	9.91	11.77	15.30	7.90
Other Costs ⓘ	16.69	20.93	13.61	18.70	22.13	70.30	29.19	29.13	42.62	14.56
Operating Profit ⓘ	8.84	22.46	32.98	57.69	69.10	82.13	129.71	155.67	45.37	8.61
Operating Profit Margin (%)	2.4%	3.9%	5.4%	7.6%	7.8%	6.7%	8.4%	5.3%	1.5%	5.1%
Other Income ⓘ	5.40	1.70	2.55	2.31	7.78	4.09	5.43	14.14	22.72	171.97
Interest ⓘ	5.79	6.38	11.93	27.18	36.18	55.11	80.86	91.21	116.08	214.64
Depreciation ⓘ	0.32	0.48	1.81	4.05	7.51	11.05	18.45	19.05	19.18	17.77
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	-90.58	16.11
Profit Before Tax ⓘ	8.12	17.29	21.79	28.77	33.19	20.07	35.83	59.56	-157.76	-35.72
Tax ⓘ	0	4.05	7.37	9.26	11.81	7.25	12.02	20.22	0.04	-1.24
Profit After Tax	8.12	13.25	14.43	19.52	21.37	12.82	23.82	39.34	-157.80	-34.48
PAT Margin (%)	2.2%	2.3%	2.4%	2.6%	2.4%	1.1%	1.6%	1.3%	-5.1%	-20.5%
Adjusted EPS (₹)	6.2	10.1	11.0	14.9	9.7	5.8	10.8	13.5	-54.2	-11.8
Dividend Payout Ratio (%)	12%	20%	41%	30%	16%	17%	14%	13%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'04	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09	Mar'10	Mar'11	Mar'12	Mar'13
Equity and Liabilities
Shareholders Fund	68.24	79.63	88.82	101.44	377.70	379.90	404.96	461.62	297.54	257.27
Share Capital ⓘ	3.28	6.56	13.11	13.11	22.11	22.11	22.11	29.11	29.11	29.11
Reserves ⓘ	64.96	73.07	75.71	88.32	355.58	357.79	382.85	432.51	268.43	228.16
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	101.10	145.04	205.04	340.61	452.61	672.13	829.98	915.45	1,231.67	1,462.65
Long Term Debt	101.10	145.04	205.04	340.61	452.61	672.13	829.98	38.16	52.09	1,102.04
Short Term Debt	0	0	0	0	0	0	0	877.29	1,179.58	360.61
Trade Payables	6.08	17.02	63.66	14.44	42.28	25.83	143.56	765.35	584.94	49.71
Others Liabilities ⓘ	0.92	56.78	53.72	17.57	34.82	45.60	33.76	48.67	102.51	484.13
Total Liabilities ⓘ	176.34	298.47	411.24	474.06	907.41	1,123.46	1,412.27	2,191.09	2,216.66	2,253.77
Fixed Assets
Gross Block	3.18	29.28	50.07	64.64	327.72	346.67	441.94	472.68	515.96	506.49
Accumulated Depreciation	1.05	1.48	3.29	7.21	14.57	31.61	56.60	82.21	107.35	125.79
Net Fixed Assetsⓘ	2.13	27.80	46.78	57.42	313.16	315.06	385.34	390.47	408.61	380.70
CWIP ⓘ	6.34	14.63	10.32	27.96	10.81	49.32	3.40	2.62	1.25	1.35
Investmentsⓘ	0.01	1.39	2.03	10.46	10.58	7.32	7.43	10.87	17.01	17.01
Inventories	48.22	72.74	57.82	70.77	105.38	101.27	99.93	107.53	86.78	34.11
Trade Receivables	51.41	96.32	179.98	206.41	295.77	479.30	691.89	1,297.75	1,547.94	1,741.38
Cash Equivalents	26.17	27.36	40.81	34.76	54.44	53.63	60.92	333.18	96.09	8.30
Others Assetsⓘ	42.07	58.23	73.49	66.27	117.27	117.56	163.37	48.67	58.98	70.92
Total Assets ⓘ	176.34	298.47	411.24	474.06	907.41	1,123.46	1,412.27	2,191.09	2,216.66	2,253.77

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'04	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09	Mar'10	Mar'11	Mar'12	Mar'13
Cash Flow From Operating Activity ⓘ	-20.28	-0.59	-24.10	38.32	29.36	43.53	128.38	432.49	-234.84	-15.54
PBT ⓘ	8.12	17.29	21.79	28.77	33.19	20.07	35.83	59.56	-157.76	-35.72
Adjustment ⓘ	0.73	5.14	11.19	28.98	40.35	62.24	94.16	96.12	112.54	61.09
Changes in Working Capital ⓘ	-27.77	-22.17	-55.78	-9.23	-35.83	-31.87	7.75	297.79	-172.93	-36.49
Tax Paid ⓘ	-1.36	-0.85	-1.31	-10.20	-8.36	-6.90	-9.36	-20.97	-16.69	-4.42
Cash Flow From Investing Activity ⓘ	-11.56	-36.89	-26.11	-25.49	-51.10	-39.77	-37.94	-26.34	-17.87	180.64
Capex	-0.55	-26.17	-20.79	-25.39	-39.41	-49.41	-13.85	-30.99	-37.86	41.30
Net Investments	0	-3.60	-13.37	-3.08	-15.39	3.13	0.01	-3.34	-6.14	0
Others ⓘ	-11	-7.12	8.05	2.98	3.70	6.51	-24.10	8	26.13	139.33
Cash Flow From Financing Activityⓘ	31.44	36.29	45.83	-9.43	29.01	-2.15	-83.28	-132.72	15.62	-252.89
Net Proceeds from Shares ⓘ	0	0	0	0	54.01	0	0	22.68	0	15.55
Net Proceeds from Borrowing ⓘ	0	0	0	-3.54	15.64	12.15	-17.87	2.52	15.23	-10.83
Interest Paid ⓘ	-2.30	-6.35	-11.93	-27.18	-36.18	-55.11	-80.86	-91.21	-116.08	-214.64
Dividend Paid ⓘ	-1.15	-1.15	-1.97	-3.28	-5.90	-3.88	-2.59	-3.87	-6.09	0
Others ⓘ	34.89	43.79	59.73	24.56	1.44	44.69	18.03	-62.85	122.56	-42.96
Net Cash Flow ⓘ	-0.40	-1.19	-4.38	3.40	7.27	1.61	7.17	273.43	-237.08	-87.79

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'04	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09	Mar'10	Mar'11	Mar'12	Mar'13
Ratios
ROE (%)	11.9	17.92	17.13	20.52	8.92	4.63	13.67	19.26	-100.45	-56.56
ROCE (%)	8.21	12.02	13.01	15.21	10.9	8.96	12.56	13.85	-3.33	11.1
Asset Turnover Ratio	2.13	2.42	1.71	1.72	1.29	1.2	1.21	1.63	1.41	0.08
PAT to CFO Conversion(x)	-2.5	-0.04	-1.67	1.96	1.37	3.4	5.39	10.99	N/A	N/A
Working Capital Days
Receivable Days	50	47	83	93	103	116	139	123	167	3,558
Inventory Days	47	38	39	31	36	31	24	13	11	131
Payable Days	7	8	27	21	14	12	23	61	83	948

Varun Industries Ltd Stock News

Varun Industries Ltd FAQs

What is the share price of Varun Industries?

Company share prices are keep on changing according to the market conditions. The closing price of Varun Industries on 01-Jan-1970 05:30 is ₹0.00.

What is the market cap of Varun Industries?

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 01-Jan-1970 05:30 the market cap of Varun Industries stood at ₹4.69.

What is the P/E ratio of Varun Industries?

The latest P/E ratio of Varun Industries as of 01-Jan-1970 05:30 is 0.00.

What is the P/B ratio of Varun Industries?

The latest P/B ratio of Varun Industries as of 01-Jan-1970 05:30 is 0.42.

What is the 52-week high and low of Varun Industries?

The 52-week high of Varun Industries is ₹1.70 and the 52-week low is ₹1.61.

What is the TTM revenue of Varun Industries?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Varun Industries is ₹84.39 ( Cr.) .

About Varun Industries Ltd

Varun Industries Limited is recognized today as a highly proactive company creating for itself opportunities of growth and relentlessly forging ahead in the pursuit of excellence.The company was established in 1989 as a small trading house and in March 1996 was incorporated as Varun Continental Ltd which was changed to Varun Industries in April 2005. The company was listed in November 2007 on both Bombay Stock Exchange and National Stock Exchange after a very successful Initial Public Offer (IPO).

The Varun brand of stainless steel cookware, kitchenware, houseware and other utility items has been a global favourite for decades winning for the company awards and accolades from the government, Federation of Indian Export Organizations and Export Council. The range is associated with quality, exclusivity and cost effectiveness. Designs have been customized for specific cultures and countries in close consultation with our buyers across the world.

To improve cost efficiency, Varun has opted for backward integration and manufactures stainless steel sheets at its ultramodern Re-Rolling Plant in Jodhpur for captive consumption and also for domestic sales. The company will optimize its competency in this area and increase capacities. Varunâ€™s manufacturing plant for finished products in Vasai, Maharashtra is also poised to increase capacities so as to further reduce dependence on outsourcing and improve efficiencies in the areas of design, quality, cost, customization and logistics.

Varunâ€™s vision is to emerge as a leading multi faceted conglomerate through diversification into areas promising sustainable profits and accelerated growth.

Through its subsidiaries and associate companies, Varun has business interests in gems and jewellery, oil and natural gas, wind energy, mining, infrastructure and other related areas. The company focuses on emerging opportunities with a view to forming collaborations both local and global In March 2009 Varun was bestowed with the coveted honour of featuring in the list of Dun & Bradstreetâ€™ Indiaâ€™s Top 500 companies 2008. Varun has been ranked 4th as per Total Income in the Trading Sector, a commendable achievement for a newly listed company.

Business area of the company:

Steelware -Varunâ€™s core competence is its intimate knowledge of the global steelware business. Its range of over 1500 products include buffet accessories, bar accessories, bathroom accessories, cutlery, canisters, colanders, coffee mugs, non-electrical cookware, non stick cookware, kitchen tools, tea kettles and tea sets, tableware, designer show pieces, petware and other utility items.
Oil & Natural Gas- Varun has the knowledge and technical expertise to offer comprehensive value based service in any phase of operation (upstream, midstream and downstream) and hence envisions itself as a leading oilfield services provider in an outsourced or collaborative basis. Its integrated services include exploration, drilling, well construction, field development, rig management, production management transportation and allied services.
Wind Energy- Varun has ventured into wind power generation by setting up wind turbine generators in Jaisalmer, Rajasthan. The company has entered into power purchase agreements with Suzlon Energy and Ajmer Vidyut Vitran Nigam Ltd. for sale of power generated by its power projects. There will always be a huge deficit between the demand and generation of energy indicating the wide opportunities for growth in the wind energy sector. Projections put the average growth of the industry at 24% for the next five years.

Steelware products -- Export