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Flexituff Ventures International Ltd. Stock Analysis

Small Cap
Evaluated by 231 users | BSE: 533638 | NSE: FLEXITUFF |
Textile
Flexituff International, a polymer manufacturing company, incorporated as partnership firm was converted into public limited company on April 25, 2003. It is engaged in production of FIBC, Geo-Textile Fabric and Ground Cover, Reverse Printed BOPP Woven Bags, Special PP Bags including Leno...

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'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 7.01%11.06%13.4%11.39%7.57%6.89%6.32%8.22%5.42%4.66%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 3014896218639681,0521,1561,3261,1531,175
Y-o-Y Gr. Rt.-62.4%27%39%12.2%8.7%9.9%14.7%-13%1.9%
Adjusted EPS (Rs.) 6.5115.9415.8111.617.966.37-0.825.13-6.52-10.05
Y-o-Y Gr. Rt.-144.9%-0.8%-26.6%-31.4%-20%-112.9%NA-227.1%NA
Book Value per Share (Rs.) 67.0795.15122.38134.07144.65150.34151.95155.2154.43148.07
Adjusted Net Profit 7.527.434.426.719.815.9-2.112.8-16.2-25
Net Op. Cash Flow (Rs. Cr.) -0.62168.865.247.711413930.1188120
Debt to Cash Flow from Ops -488.9113.744.046.0110.615.234.5225.323.856.04
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.
Flexituff Ventures International Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 16.3%3.9%0.5%1.9%
Adjusted EPS -204.9%-204.8%NANA
Book Value per Share 9.20.5-0.9-4.1
Share Price - -44.6% -45.9% 14%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) 9.7322.0715.999.295.934.32-0.543.34-4.21-6.64
Operating Profit Margin (%) 14.2113.816.9813.6410.6610.7612.0713.8113.3811.2
Net Profit Margin (%) 2.495.615.533.092.041.51-0.180.96-1.41-2.13
Debt to Equity 3.471.761.051.271.411.591.661.971.881.97
Working Capital Days 139148164154168171162162216230
Cash Conversion Cycle 375970666670728711188
Entity Percentage Holding
Promoters 32.88%
Institutions 11.91%
Non-Institutions 55.21%
Pledged *100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Flexituff Ventures's performance infers:

Flexituff Ventures earnings have declined by -204.8%, whereas share price has depreciated -44.6% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

Data is not available for this company

Flexituff International, a polymer manufacturing company, incorporated as partnership firm was converted into public limited company on April 25, 2003. It is engaged in production of FIBC, Geo-Textile Fabric and Ground Cover, Reverse Printed BOPP Woven Bags, Special PP Bags including Leno Bags.

The company exports it products to around 30 countries across globe with major thrust in US and Europe. Recently, it manufactured and exported Trap Bags for AmeriGlobe USA. AmeriGlobe was contracted

Flexituff International, a polymer manufacturing company, incorporated as partnership firm was converted into public limited company on April 25, 2003. It is engaged in production of FIBC, Geo-Textile Fabric and Ground Cover, Reverse Printed BOPP Woven Bags, Special PP Bags including Leno Bags.

The company exports it products to around 30 countries across globe with major thrust in US and Europe. Recently, it manufactured and exported Trap Bags for AmeriGlobe USA. AmeriGlobe was contracted by City of Fargo to provide Trap bag Container Barrier System for flood protection in eight Fargo City locations. Flexituff International is recognized as one of the most reputed producers of FIBC in the world.

  • Flexituff International, presently, manufactures products from its three fully integrated and self-sufficient manufacturing units. The two units are located in Pithampur (M.P.) and one in Kashipur (Uttrakhand). These manufacturing units have an installed capacity of 12,200 MT and 12,800 MT respectively.
  • It has a recycling and reprocessing plant at Kandla which is used for recovering polypropylene and making various compounds of plastics.
  • Additionally, a research and Development centre at Kashipur which is engaged in the research and development of various compounds for plastic products including engineering plastic, bio-degradable plastic and other new product developments. The Company has spent ` 245.47 million on research and development for the period April 1, 2007 till June 30, 2011.
  • The company also owns a land admeasuring 5,72,347 sq. ft. at SEZ, Pithampur in Dhar district of M.P. The existing manufacturing facilities occupies approximately 295,500 square feet of land.
  • It has marketing offices at Pithampur and Delhi. Pithampur office handles marketing of FIBCs. Delhi office handles marketing of BOPP, geo-textile products, special PP bags, compounding and polymers. Apart from this, it has its sales representatives at Mumbai, Hyderabad and Kolkata and marketing offices in UK and USA.

Subsidiary :

  • Lakshmi Incorporated, U.S.A is engaged in manufacturing of reclosable extruded zipper profile which is used as a secondary closure for 5-50 kg bags.
  • Flexiglobal (UK) Limited is engaged in distribution and marketing of FIBCs.

Product Portfolio:a) Flexible Intermediate Bulk Containers (FIBC)b) Geo-Textile Fabric and Ground Coversc) Reverse Printed BOPP Woven Bagsd) Special PP Bags and Leno Bags

Future projects:

  • Polymer Compounding: The company already has installed machinery to produce 10,000 MT of various compounds at Kashipur. It can be broadly divided into two main categories viz.-Filler compounds (like Calcium, Elastomer) and-Modifier compounds (like UV/Colour Masterbatch, Bonding agents, Drip Masterbatch, etc.)
  • Injection-moulded articles: It has presently commenced production for pallets, crates, boxes and other industrial / domestic injection moulded articles on trial basis. Also as part of the expansion programme at Kashipur, company is proposing to manufacture injection moulded articles for drip irrigation industry, with a thrust on production of drippers.
  • The company intends to expand its manufacturing facilities at SEZ and DTA units at Pithampur also looks forward to set up Dripper Project at Kashipur. To meet the fund requirements of Rs 100 crore, company came up with an initial public offer (IPO) which was subscribed 1.14 times.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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