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BSE: 532980 | NSE: GOKUL | Edible Oil | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Gokul Refoils and Solvent Ltd is a below average quality company.
The key valuation ratios of Gokul Refoils and Solvent 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 Semi Strong which suggest that the price of Gokul Refoils and Solvent Ltd is likely to Rise-somewhat 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'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 11.5% | 10.4% | 2.8% | 1.4% | 6.4% | 1.2% | 2.7% | 0.9% | 0.2% | 0.5% | - |
| Value Creation Index ⓘ | -0.2 | -0.3 | -0.8 | -0.9 | -0.5 | -0.9 | -0.8 | -0.9 | -1.0 | -1.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 6,326 | 5,869 | 1,643 | 232 | 186 | 8 | 17.6 | 10 | 11.4 | 7.4 | 86 |
| Sales YoY Gr. | - | -7.2% | -72% | -85.9% | -19.6% | -95.7% | 119.1% | -42.9% | 13.9% | -34.9% | - |
| Adj EPS ⓘ | 6.1 | 2 | 0.6 | 0.3 | 1.9 | 0.2 | 0.5 | 0.2 | 0 | 0.1 | -0.8 |
| YoY Gr. | - | -66.7% | -68.8% | -58.7% | 626.9% | -90% | 179% | -60.4% | -85.7% | 266.7% | - |
| BVPS (₹) ⓘ | 26.3 | 27.2 | 20.4 | 20.1 | 18.8 | 19 | 19.5 | 21.5 | 21.6 | 21.8 | 21 |
| Adj Net Profit ⓘ | 80 | 26.6 | 8.3 | 3.5 | 24.9 | 2.5 | 6.9 | 2.1 | 0.3 | 1.1 | -8 |
| Cash Flow from Ops. ⓘ | 320 | -118 | 424 | 23.5 | 45.9 | -1 | 10.3 | 25.3 | 6 | -2.3 | - |
| Debt/CF from Ops. ⓘ | 2 | -5.1 | 0.1 | 13.8 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -52.8% | -47.5% | -24.9% | -34.9% | ||||
| Adj EPS ⓘ | -36% | -43.4% | -40.8% | 266.7% | ||||
| BVPSⓘ | -2.1% | 3.1% | 3.8% | 1% | ||||
| Share Price | 10.1% | 40.9% | 31.8% | 45.9% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 23.2 | 7.6 | 2.7 | 1.3 | 9.7 | 1 | 2.7 | 0.9 | 0.2 | 0.5 | -3.6 |
| Op. Profit Mgn % ⓘ | 2.8 | 2.2 | 1.5 | -1 | -4.8 | -81.6 | 11.6 | -19.3 | -31.2 | -45.6 | 5.5 |
| Net Profit Mgn % ⓘ | 1.3 | 0.5 | 0.5 | 1.5 | 13.4 | 31.4 | 39.5 | 21 | 3 | 14.8 | -9 |
| Debt to Equity ⓘ | 1.9 | 1.7 | 0.1 | 1.2 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 67 | 80 | 185 | 445 | 429 | 6,477 | 2,724 | 4,162 | 3,126 | 4,679 | 395 |
| Cash Conv. Cycle ⓘ | -18 | -9 | -21 | -33 | 94 | -105 | 26 | 124 | 11 | 8 | 293 |
Sales growth is good in last 4 quarters at 734.60%
Return on Equity is Poor
Sales growth has been subdued in last 3 years -24.94%
Net Profit has been subdued in last 3 years -40.79%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -0.8 | 0.6 |
| TTM Sales (₹ Cr.) | 86 | 3,186 |
| BVPS (₹.) ⓘ | 21 | 33.1 |
| Reserves (₹ Cr.) ⓘ | 188 | 308 |
| P/BV ⓘ | 1.93 | 1.22 |
| PE ⓘ | 0.00 | 68.93 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 27.87 / 64.54 |
| All Time Low / High (₹) | 7.25 / 111.60 |
| Market Cap (₹ Cr.) | 401 |
| Equity (₹ Cr.) | 19.8 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 78.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6,326 | 5,869 | 1,643 | 232 | 186 | 8 | 18 | 10 | 11 | 7 |
| Operating Expenses ⓘ | 6,272 | 5,766 | 1,623 | 244 | 206 | 15 | 16 | 12 | 15 | 11 |
| Manufacturing Costs | 215 | 247 | 108 | 0 | 0 | 0 | 1 | 1 | 0 | 0 |
| Material Costs | 5,751 | 5,328 | 1,434 | 213 | 181 | 8 | 10 | 8 | 11 | 7 |
| Employee Cost | 28 | 27 | 9 | 5 | 5 | 2 | 2 | 2 | 2 | 2 |
| Other Costs ⓘ | 279 | 165 | 73 | 26 | 19 | 5 | 2 | 1 | 2 | 1 |
| Operating Profit ⓘ | 53 | 103 | 19 | -13 | -20 | -7 | 2 | -2 | -4 | -3 |
| Operating Profit Margin (%) | 0.8% | 1.8% | 1.2% | -5.5% | -10.5% | -81.6% | 11.6% | -19.3% | -31.2% | -45.6% |
| Other Income ⓘ | 84 | 53 | 11 | 12 | 48 | 12 | 11 | 6 | 6 | 7 |
| Interest ⓘ | 90 | 108 | 13 | 4 | 3 | 1 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 37 | 33 | 9 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | -28 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 10 | 15 | 8 | -5 | -2 | 4 | 13 | 4 | 2 | 3 |
| Tax ⓘ | 7 | 3 | 3 | -2 | -1 | 1 | 6 | 1 | 0 | 1 |
| Profit After Tax | 3 | 12 | 6 | -3 | -2 | 3 | 7 | 3 | 1 | 2 |
| PAT Margin (%) | 0.0% | 0.2% | 0.3% | -1.4% | -0.9% | 34.0% | 42.2% | 29.5% | 12.5% | 28.0% |
| Adjusted EPS (₹) | 0.2 | 0.9 | 0.4 | -0.3 | -0.1 | 0.2 | 0.6 | 0.3 | 0.1 | 0.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 347 | 359 | 269 | 265 | 248 | 250 | 258 | 212 | 214 | 216 |
| Share Capital ⓘ | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 20 | 20 | 20 |
| Reserves ⓘ | 320 | 333 | 242 | 239 | 221 | 224 | 231 | 193 | 194 | 196 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 633 | 597 | 21 | 325 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Debt | 51 | 50 | 15 | 17 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 582 | 547 | 6 | 308 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 1,076 | 1,012 | 314 | 54 | 12 | 3 | 1 | 1 | 0 | 0 |
| Others Liabilities ⓘ | 75 | 37 | 41 | 26 | 26 | 7 | 8 | 8 | 8 | 8 |
| Total Liabilities ⓘ | 2,131 | 2,006 | 645 | 670 | 286 | 260 | 267 | 221 | 222 | 225 |
Fixed Assets | ||||||||||
| Gross Block | 540 | 584 | 257 | 176 | 1 | 1 | 8 | 1 | 1 | 1 |
| Accumulated Depreciation | 208 | 238 | 83 | 14 | 0 | 0 | 1 | 1 | 1 | 1 |
| Net Fixed Assetsⓘ | 331 | 345 | 174 | 162 | 1 | 1 | 8 | 1 | 0 | 0 |
| CWIP ⓘ | 7 | 8 | 0 | 0 | 0 | 1 | 2 | 1 | 0 | 0 |
| Investmentsⓘ | 133 | 47 | 112 | 151 | 117 | 123 | 121 | 106 | 115 | 116 |
| Inventories | 402 | 565 | 96 | 133 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Receivables | 421 | 459 | 57 | 30 | 6 | 0 | 7 | 1 | 0 | 0 |
| Cash Equivalents | 472 | 211 | 81 | 68 | 16 | 0 | 9 | 0 | 0 | 0 |
| Others Assetsⓘ | 365 | 370 | 125 | 125 | 144 | 135 | 120 | 113 | 106 | 108 |
| Total Assets ⓘ | 2,131 | 2,006 | 645 | 670 | 286 | 260 | 267 | 221 | 222 | 225 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 320 | -118 | 424 | 24 | 46 | -1 | 10 | 25 | 6 | -2 |
| PBT ⓘ | 10 | 15 | 8 | -5 | -2 | 4 | 13 | 4 | 2 | 3 |
| Adjustment ⓘ | 22 | 36 | 10 | 22 | -48 | -5 | -7 | -5 | -4 | -4 |
| Changes in Working Capital ⓘ | 291 | -167 | 408 | -0 | 102 | 6 | 5 | 28 | 9 | 0 |
| Tax Paid ⓘ | -4 | -3 | -3 | 7 | -6 | -5 | -1 | -1 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 136 | 48 | 89 | -33 | 274 | -2 | -2 | 14 | -6 | 2 |
| Capex | -20 | -48 | -2 | -2 | 253 | 0 | -9 | 0 | 0 | 0 |
| Net Investments | 63 | 51 | 7 | -39 | 36 | -2 | 7 | 14 | -6 | 2 |
| Others ⓘ | 93 | 44 | 84 | 7 | -15 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -556 | -91 | -584 | 3 | -333 | 0 | 0 | -48 | 0 | 0 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 28 | -1 | -35 | 0 | -17 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -65 | -55 | -7 | -15 | -8 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -519 | -35 | -541 | 18 | -308 | 0 | 0 | -48 | 0 | 0 |
| Net Cash Flow ⓘ | -100 | -161 | -70 | -7 | -14 | -3 | 8 | -8 | 0 | 0 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.89 | 3.52 | 1.82 | -1.23 | -0.67 | 1.1 | 2.92 | 1.26 | 0.67 | 0.97 |
| ROCE (%) | 8.02 | 12.58 | 3.5 | -0.27 | 0.12 | 1.93 | 5.15 | 1.52 | 0.78 | 1.21 |
| Asset Turnover Ratio | 2.72 | 2.85 | 1.24 | 0.35 | 0.39 | 0.03 | 0.07 | 0.04 | 0.05 | 0.03 |
| PAT to CFO Conversion(x) | 106.67 | -9.83 | 70.67 | N/A | N/A | -0.33 | 1.43 | 8.33 | 6 | -1 | Working Capital Days |
| Receivable Days | 20 | 27 | 57 | 68 | 36 | 143 | 75 | 151 | 20 | 13 |
| Inventory Days | 26 | 30 | 73 | 180 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 66 | 72 | 169 | 316 | 67 | 346 | 70 | 38 | 12 | 7 |
Gokul Refoils and Solvent (GRSL) was incorporated in 1992 at Sidhpur. The company is engaged in manufacturing of refining vegetable oils including seed procurement, processing, solvent extraction and marketing of edible oils.
GRSL commenced its export activity in 1995 through its associate concern Gokul Overseas. The company has a presence in the markets of
GRSL has received ISO 9001:2000 certification for its quality management.
Manufacturing facilities
The company is engaged in manufacturing of soybean oil, sunflower oil, palm oil, mustard oil, groundnut oil and vanaspati.
GRSL has its manufacturing facilities at Gandhidham, Sidhpur and
Its Gandhidham unit has refining capacity of 900 MT and 200MT of vanaspati per day. This unit also has a tin manufacturing plant with capacity of 20000 tin per day.
Its Sidhpur unit has a per day refining capacity of 300MT, seed crushing capacity of 500 tonne and tin manufacturing capacity of 20000 tin.
The company’s
Research and Development (R&D) Facilities
The company's in-house R&D facilities is engaged in upgrading its existing products. It is also engaged in developing new products.
Awards/ Milestones
Gokul Refoils and Solvent won SEA award for best performance in exports.
GRSL received award from The Federation of Indian Export Organisations for the export of agri products.
2009 - The Company setup a 1,100 TPD Refinery and a 2.4 MW co-generation plant at Haldia, West Bengal.
2010 - The Company set up a Refinery of 400 TPD, 100 TPD Vanaspati plant & 400 TPD Castor facilities at Gandhiham.
2011 - Gokul Refoils bags prestigious Globoil India & SEA Awards 2011
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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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