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Crew BOS Products Ltd Stock Analysis

Small Cap
Evaluated by 107 users | BSE: 532542 | NSE: CREWBOS |
Leather
Crew B. O. S Products Limited was incorporated in 1988 under the name & style of Motherson Unimetex Pvt Ltd. Subsequently the name was changed to Crew B.O.S Products Limited. The company’s business model is based on manufacture and export of fashion accessories & home decoration...

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.
Value Creation
 Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13
Return on Capital Employed 19.61%21.23%20.92%19.22%11.29%12.26%11.82%13.38%9.79%-21.64%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 55.381131185218334444621427268
Y-o-Y Gr. Rt.-46.7%62.2%40.5%18%53.4%32.9%39.8%-31.2%-37.3%
Adjusted EPS (Rs.) 5.877.4512.1117.311.7914.3315.4920.669.25-76.78
Y-o-Y Gr. Rt.-26.9%62.6%42.9%-31.9%21.5%8.1%33.4%-55.2%-930.1%
Book Value per Share (Rs.) 19.1230.9453.9569.6481.6790.9105.47122.64120.67-26.67
Adjusted Net Profit 4.18.215.522.215.118.419.926.613-107
Net Op. Cash Flow (Rs. Cr.) 8.6-4.6-2.85.4-2.913.32.3-24.85913.7
Debt to Cash Flow from Ops 1.63-6.74-16.313.69-42.9812.494.3-11.574.8422.68
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.
Crew BOS Products Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 19.2%4.2%-15.5%-37.3%
Adjusted EPS -233.1%-245.5%-270.5%-930.1%
Book Value per Share -203.8-180-163.2-122.1
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13
Return on Equity (%) 33.6933.6829.5227.1114.9816.3215.5917.857.86-163.37
Operating Profit Margin (%) 12.6214.9817.5217.9916.0215.1614.1313.5716.74-11.68
Net Profit Margin (%) 7.4410.1111.8112.016.935.494.474.293.03-40.1
Debt to Equity 1.050.910.650.821.181.411.611.821.69-8.31
Working Capital Days 147160170165209206226261499589
Cash Conversion Cycle 82758996133118124123182228
Entity Percentage Holding
Promoters 15.38%
Non-Institutions 84.62%
Pledged *68.3766.3266.3266.3263.2644.0942.0432.8536.3739.81
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

Data is not available for this company.

Data is not available for this company

Crew B. O. S Products Limited was incorporated in 1988 under the name & style of Motherson Unimetex Pvt Ltd. Subsequently the name was changed to Crew B.O.S Products Limited. The company’s business model is based on manufacture and export of fashion accessories & home decoration products made from fabrics, leather, metal, wood etc.

The company is involved in selling fashion accessories products innovated through unique ideas. The company’s product profile ranges from

Crew B. O. S Products Limited was incorporated in 1988 under the name & style of Motherson Unimetex Pvt Ltd. Subsequently the name was changed to Crew B.O.S Products Limited. The company’s business model is based on manufacture and export of fashion accessories & home decoration products made from fabrics, leather, metal, wood etc.

The company is involved in selling fashion accessories products innovated through unique ideas. The company’s product profile ranges from belts, bags, portfolios, business cases, footwear, wallets, boxes, furniture to home furnishings. Crew B. O. S. is constantly engaged in broad basing its product portfolio in order to keep itself abreast with the latest changes in fashion trends around the world. In order to enlarge and strengthen its product portfolio it has recently started manufacture and exports of watch straps.

The company operates from its seven facilities in Gurgaon and Manesar for manufacturing various fashion products. The company’s revenue model is based on catering to the outsourcing requirements of the leading international brands in U.S. and Europe. The company has a highly scalable business model and there is tremendous scope for ramping up every individual client account.

The company’s customer profile comprises reputed international retail brands like NEXT PLC, ESPIRIT, ZARA,, MASSIMODUTTI, ARMANI EXCHANGE, TESCO, H& M in Europe. The customers in USA include GAP, BANANA REPUBLIC, OLD NAVY, CHICO’s, FOSSIL.Over the years, Crew B.O.S has fully transformed itself from being just a bags and belt manufacturer to a multi-product company catering to a complete range of fashion accessories and home decoration products.

Different Product divisions of the company: Crew BOS' niche product lines can be divided into four divisions viz; fashion bags and wallets division, belts and footwear division, home goods division and watch strap division.

  • Fashion Bags & Wallets Division- This division manufactures fashion bags for both women and men, right from embroidered bags, embellished mixed media bags to leather bags, they are all produced in these divisions. Variety of materials, both natural and man-made, are used to product these products. The Fashion bag and small leather goods is further sub divided into leather and non- leather goods. These ranges extend from wallets, hand bags, business cases, all the way to travel luggage.
  • Belt & Footwear Division- produces high fashion belts as well as basic belts. The usage of traditional methods, such as hand stitching, hand padding, hand moulding, along with usage of sophisticated machinery on it's belts, make this division perhaps the most varied in its techniques,
  • Home Goods Division- This division excels in lighting, furniture, home decorative items, and gifts. Each product is “Hand Crafted” and still promises uniformity. It produces a varied range of open footwear and keeps pace with the fast changing fashion trends
  • Watch Strap Division- Crew BOS, has incorporated a wholly owned subsidiary to market this new product.

Awards/Achievements

  • It was rated as top exporter from North India by Council of Leather Exports for the financial year 1999-2000 and 2001-02 in the category of leather goods and accessories.
  • The Council for Leather Exports has awarded the Plaque award to Crew B.O.S. for Export Performance in Leather Goods (US $ 1 Million to US $ 5 Million) for the year 2001-02.
  • Government of Haryana awarded it for outstanding performance in Export for the year 2001-2002.

Recent developments

The company has incorporated three wholly owned subsidiary companies namely, Crew BOS Enterprises, Villa BOS Leathers and Emporio BOS Designs. Crew BOS Enterprises was incorporated on Feb. 26, 2009 while each of Villa BOS Leathers and Emporio BOS Designs were incorporated on Mar. 06, 2009.

Credit Analysis & Research Ltd (CARE) has assigned the care rating ‘CARE BBB+’ (Triple B (Plus)) to the long term facilities and 'PR2' (PR Two) to the short term facilities of the Company.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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