Piramal Glass Ltd - Stock Valuation and Financial Performance

Name: Piramal Glass
Brand: Piramal Glass

BSE: 532949 | NSE: PIRGLASS | Glass | Small Cap

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Piramal Glass stock performance -

PE Chart Key Ratios

P/E Ratio (SA):

13.45

Market Cap:

1,121.5 Cr.

52-wk low:

138.5

52-wk high:

138.9

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1. Is a good quality company?

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2. Is undervalued or overvalued?

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3. Is a good buy now?

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10 Year X-Ray of Piramal Glass:

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'10	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	TTM
ROCE % ⓘ	8.1%	10%	11%	6.7%	5%	4.7%	10.9%	12.1%	5.8%	5.8%	-
Value Creation Index ⓘ	-0.4	-0.3	-0.2	-0.5	-0.6	-0.7	-0.2	-0.1	-0.6	-0.6	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	659	762	855	1,015	1,096	1,192	1,300	1,327	1,305	1,445	1,445
Sales YoY Gr.	-	15.7%	12.1%	18.8%	8%	8.8%	9.1%	2.1%	-1.7%	10.7%	-
Adj EPS ⓘ	5.1	8.3	10	3.9	1.8	0.1	11.7	14	5.5	9	10.3
YoY Gr.	-	64%	20.4%	-61.1%	-53.1%	-92.3%	8250%	19.9%	-60.6%	63.1%	-
BVPS (₹) ⓘ	49.9	54.4	59.8	59.3	61.1	60	73	75.8	82.1	92.6	61.7
Adj Net Profit ⓘ	40.6	66.6	80.7	31.4	14.7	1.1	94.6	111	43.7	71.3	83
Cash Flow from Ops. ⓘ	226	129	155	90.1	96.4	152	310	349	198	338	-
Debt/CF from Ops. ⓘ	2.5	4.5	4.8	9.2	9.3	5.7	2.4	1.7	3.1	3.7	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	9.1%	5.7%	3.6%	10.7%
Adj EPS ⓘ	6.7%	37.7%	-8.3%	63.1%
BVPSⓘ	7.1%	8.7%	8.3%	12.8%
Share Price	-	-	-	-

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'10	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	TTM
Return on Equity % ⓘ	13.3	15.9	17.5	6.5	3	0.2	17.6	18.6	7	10.3	13.4
Op. Profit Mgn % ⓘ	24.7	26.1	26.8	19	16.4	14.1	21.9	22.7	18.4	16	16.8
Net Profit Mgn % ⓘ	6.2	8.7	9.4	3.1	1.3	0.1	7.3	8.4	3.4	4.9	5.8
Debt to Equity ⓘ	1.4	1.3	1.5	1.7	1.8	1.8	1.3	1	0.9	1.7	0.5
Working Cap Days ⓘ	254	211	223	218	235	233	210	202	216	192	125
Cash Conv. Cycle ⓘ	143	118	122	131	146	136	122	100	93	69	-10

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 %

Net Profit has been subdued in last 3 years %

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

Latest Financials - Piramal Glass Ltd.

	Standalone	Consolidated
TTM EPS (₹)	10.3	11.1
TTM Sales (₹ Cr.)	1,445	2,394
BVPS (₹.) ⓘ	61.7	100.8
Reserves (₹ Cr.) ⓘ	418	734
P/BV ⓘ	2.25	1.38
PE ⓘ	13.45	12.50

From the Market
52 Week Low / High (₹)	138.50 / 138.85
All Time Low / High (₹)	13.26 / 210.25
Market Cap (₹ Cr.)	1,122
Equity (₹ Cr.)	80.9
Face Value (₹)	10
Industry PE ⓘ	35.7

Management X-Ray of Piramal Glass:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Piramal Glass

Analyst's Notes

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Key Ratios of Piramal Glass

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'10	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19
Sales	659.15	762.29	854.80	1,015.48	1,096.32	1,192.23	1,300.15	1,327.47	1,304.59	1,444.76
Operating Expenses ⓘ	531.74	563.35	629.25	862.07	917.95	1,025.38	1,023.38	1,027.35	1,068.37	1,222.80
Manufacturing Costs	184.43	212.45	255.04	377.43	418.42	413.05	408.96	417.90	455.33	513.70
Material Costs	116.56	117.12	121	131.97	155.73	232.98	175.61	192.98	188.54	190.12
Employee Cost	66.36	80.82	91.28	124.11	134.46	140.72	165.57	141.29	142.62	173.01
Other Costs ⓘ	164.39	152.95	161.92	228.55	209.35	238.64	273.24	275.17	281.87	345.97
Operating Profit ⓘ	127.41	198.95	225.55	153.41	178.37	166.85	276.77	300.12	236.23	221.96
Operating Profit Margin (%)	19.3%	26.1%	26.4%	15.1%	16.3%	14.0%	21.3%	22.6%	18.1%	15.4%
Other Income ⓘ	29.10	14.27	19.87	22.11	31.45	30.85	38.97	38.11	29.85	47.19
Interest ⓘ	63.09	47.14	60.03	75.85	76.15	89.63	75.10	61.89	39.98	33.30
Depreciation ⓘ	72.38	74.01	77.34	93.40	94.65	94.26	91.90	97.24	149.35	106.90
Exceptional Items ⓘ	0	0	0	0	0	-7.48	0	0	0	0
Profit Before Tax ⓘ	21.05	92.07	108.05	6.27	39.02	6.33	148.73	179.10	76.75	128.95
Tax ⓘ	5.27	23.48	29.77	1.43	14.23	1.26	44.07	57.50	25.46	45.55
Profit After Tax	15.77	68.59	78.27	4.84	24.79	5.07	104.66	121.60	51.29	83.40
PAT Margin (%)	2.4%	9.0%	9.2%	0.5%	2.3%	0.4%	8.0%	9.2%	3.9%	5.8%
Adjusted EPS (₹)	2.0	8.5	9.7	0.6	3.1	0.6	12.9	15.4	6.5	10.6
Dividend Payout Ratio (%)	51%	41%	36%	167%	33%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'10	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19
Equity and Liabilities
Shareholders Fund	401.38	437.25	484.05	479.43	494.75	485.66	590.32	599.19	649.01	731.95
Share Capital ⓘ	80.44	80.44	80.92	80.92	80.92	80.92	80.92	79.07	79.07	79.07
Reserves ⓘ	320.95	356.81	403.13	398.51	413.84	404.75	509.40	520.12	569.94	652.88
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	570.56	523.78	727.37	766.23	813.95	753.78	667.42	508.89	516.80	1,153.89
Long Term Debt	570.56	128.14	182.02	279.61	306.34	192.83	158.15	132.91	152.67	162.28
Short Term Debt	0	395.64	545.36	486.61	507.61	560.95	509.27	375.98	364.13	991.61
Trade Payables	74.56	73.36	92.44	105.52	122.45	94.47	79.03	177.47	184.16	230.81
Others Liabilities ⓘ	71.75	168.84	158.61	189.81	231.37	270.47	269.86	344.10	291.53	312
Total Liabilities ⓘ	1,118.25	1,203.23	1,462.48	1,540.98	1,662.52	1,604.38	1,606.63	1,629.65	1,641.49	2,428.66
Fixed Assets
Gross Block	1,064.54	1,129.49	1,239.78	1,443.94	1,519.28	1,538.92	1,642.95	922.78	1,057.61	1,186.28
Accumulated Depreciation	442.65	516.30	584.06	659.72	722.49	823.90	878.50	185.74	305.14	387.08
Net Fixed Assetsⓘ	621.89	613.20	655.72	784.22	796.79	715.02	764.45	737.05	752.47	799.21
CWIP ⓘ	14.02	39.45	151.36	10.03	2.64	20.49	4.32	45.96	42.79	86.88
Investmentsⓘ	58.95	59.26	59.26	59.26	59.26	59.26	59.26	59.29	59.29	330.79
Inventories	116.51	111.42	139.32	191.85	229.01	177.12	193.61	228.27	241.51	267.61
Trade Receivables	232.34	258.14	304.41	360.74	399.68	397.65	372.40	332.97	304.09	263.82
Cash Equivalents	1.72	1.41	12.75	14.55	16.73	17.62	22.69	16.19	15.36	461.50
Others Assetsⓘ	72.82	120.34	139.66	120.33	158.40	217.22	189.91	209.94	225.98	218.86
Total Assets ⓘ	1,118.25	1,203.23	1,462.48	1,540.98	1,662.52	1,604.38	1,606.63	1,629.65	1,641.49	2,428.66

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'10	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19
Cash Flow From Operating Activity ⓘ	225.79	129.49	155.09	90.07	96.39	152.29	310.09	349.38	197.54	337.92
PBT ⓘ	21.05	92.07	108.05	6.27	39.02	6.33	148.73	179.10	76.75	128.95
Adjustment ⓘ	119.53	110.61	120.69	147.45	151.95	173.84	159.87	141.97	176.77	171.03
Changes in Working Capital ⓘ	85.21	-59.87	-50.52	-58.76	-90.08	-27.89	26.2	65.36	-27.17	59.79
Tax Paid ⓘ	0	-13.32	-23.13	-4.89	-4.50	0	-24.71	-37.05	-28.81	-21.85
Cash Flow From Investing Activity ⓘ	-10.72	-82.85	-217.62	-70.19	-84.66	-31.20	-113.23	-98.03	-160.09	-505.73
Capex	-12.60	-90.92	-234.24	-80.44	-101.51	-53.94	-132.81	-111.85	-165.89	-229.57
Net Investments	0	0	0	0	0	0	0	0	0	-280.39
Others ⓘ	1.88	8.07	16.62	10.25	16.86	22.74	19.58	13.82	5.80	4.24
Cash Flow From Financing Activityⓘ	-215.48	-46.95	73.87	-18.08	-9.56	-120.19	-191.79	-255.67	-37.99	613.44
Net Proceeds from Shares ⓘ	185.63	0	1.44	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	0	0
Interest Paid ⓘ	-60.17	-44.56	-56.93	-74.55	-64.86	-88.11	-78.04	-53.78	-40.84	-30.34
Dividend Paid ⓘ	0	-9.24	161.72	-32.70	-9.44	-8.04	-0.62	-8.65	-0.02	-0.06
Others ⓘ	-340.93	6.85	-32.37	89.17	64.74	-24.04	-113.13	-193.25	2.88	643.84
Net Cash Flow ⓘ	-0.41	-0.31	11.34	1.81	2.18	0.89	5.07	-4.32	-0.54	445.64

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'10	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19
Ratios
ROE (%)	5.17	16.36	16.99	1.01	5.09	1.03	19.45	20.45	8.22	12.08
ROCE (%)	8.04	14.01	15.01	6.49	8.54	7	16.57	18.86	9.45	9.98
Asset Turnover Ratio	0.58	0.68	0.66	0.7	0.71	0.76	0.84	0.85	0.8	0.71
PAT to CFO Conversion(x)	14.32	1.89	1.98	18.61	3.89	30.04	2.96	2.87	3.85	4.05
Working Capital Days
Receivable Days	125	113	117	115	122	118	104	93	89	72
Inventory Days	69	53	52	57	68	60	50	56	66	64
Payable Days	219	230	250	274	267	170	180	243	350	398

Piramal Glass Ltd Stock News

Piramal Glass Ltd FAQs

What is the share price of Piramal Glass?

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

What is the market cap of Piramal Glass?

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 Piramal Glass stood at ₹1,121.5.

What is the P/E ratio of Piramal Glass?

The latest P/E ratio of Piramal Glass as of 01-Jan-1970 05:30 is 13.45.

What is the P/B ratio of Piramal Glass?

The latest P/B ratio of Piramal Glass as of 01-Jan-1970 05:30 is 2.25.

What is the 52-week high and low of Piramal Glass?

The 52-week high of Piramal Glass is ₹138.8 and the 52-week low is ₹138.5.

What is the TTM revenue of Piramal Glass?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Piramal Glass is ₹1,445 ( Cr.) .

About Piramal Glass Ltd

Piramal Glass incorporated in 1998, is engaged in the business of manufacturing packaging solutions for the perfumery and pharmaceuticals.

Company provides complete solutions including full bottle design capabilities, in-house mould design, CNC machines for mould manufacturing, high quality glass manufacturing and dedicated ancillaries for decoration and accessories like caps, cartons and brushes.

Under pharmaceuticals the company manufactures products such as moulded vials, injectables and bottles. In domestic market PGL enjoys about 40% market share. Further in cosmetics and perfumery segment the company manufactures glass containers for nail polish, perfumes, foundations, attars, etc.

The company is the one of the largest manufacturers of flacconage glass for two segments namely pharmaceutical and perfume. It has an installed capacity of 1,115 tonnes per day, and sales of more than $200 million worldwide. Further the company also manufactures glass bottles for specialty food and beverages.

Companyâ€™s manufacturing facilities is located at India and Sri Lanka which makes it a low cost glass manufactures giving it edge above its competitors.

Major customers of containers for pharmaceutical industry are Glaxo Smithkline, Pfizer, E-Merck, Alembic, Aventis, Dabur (India), Ranbaxy, Cipla, Himalaya drugs, Dr. Reddy's Laboratories, and Piramal Healthcare.

Major customers of containers for cosmetics and perfumery business are Dumak LLC, LOreal, Erkui Kozmetic, Compagnie De Diffussion, Niasi, Expak, Baralan International, S F Patel & Sons, Estico and Revolline.

Globally, the company has network of distributors spread across in countries namely Netherlands, Belgium, Thailand, Spain, Columbia, Denmark, Turkey, Indonesia, Mexico, Italy, Russia and Brazil.

The Company has ISO 9001, ISO 14001 certification and OHSAS (Occupational Health, Safety Analysis Series) i.e. ISO 18001 certification.Milestone1984-Piramal Group acquired Gujarat Glass.

1990-The company was merged with the group company Nicholas Piramal India leading to forming of business division of group.

1998- The glass division was demerged from the group leading formation of Piramal Glass which was incorporated in same year.

1999-Company acquired Ceylon Glass Company, Sri Lanka.

2003-Nicholas Piramal India demerged its 54 % holding to Kojam Fininvest.

2005- The company acquired a part of the Glass Group earlier known Wheaton Glass. This led the company to foray into the US market.

2008-Kojam was merged into Gujarat Glass, now known as Piramal Glass

Future Prospects

Piramal Glass plans to raise upto Rs 200 crore through rights issues for further expansion of its business.