Sirpur Paper Mills Ltd - Stock Valuation and Financial Performance

Name: Sirpur Paper Mills
Brand: Sirpur Paper Mills

BSE: 502455 | NSE: SIRPAPER | Paper & Paper Products | Small Cap

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Sirpur Paper Mills stock performance -

PE Chart Key Ratios

P/E Ratio (SA):

0.45

Market Cap:

18.1 Cr.

52-wk low:

10.6

52-wk high:

10.6

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10 Year X-Ray of Sirpur Paper Mills:

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

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'11	Mar'12	Mar'13	Mar'14	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
ROCE % ⓘ	1.1%	2.4%	-13.3%	-13.5%	-18%	-4.1%	-3%	-5.8%	9.8%	41.3%	-
Value Creation Index ⓘ	-0.9	-0.8	-2.0	NA	NA	-1.3	-1.2	-1.4	-0.3	2.0	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	365	390	354	420	0	1	54.1	205	531	935	531
Sales YoY Gr.	-	6.8%	-9.1%	18.8%	-100%	NA	5,591.6%	278.8%	159.3%	76%	-
Adj EPS ⓘ	-11.7	-10.8	-58.2	-53.6	-27.3	-0.6	-1.2	-4.4	2.2	18.4	23.7
YoY Gr.	-	NA	NA	NA	NA	NA	NA	NA	NA	734.4%	-
BVPS (₹) ⓘ	107.9	97.3	36.6	-16.7	-147	9.6	8.7	4.4	6.8	24.7	-52.4
Adj Net Profit ⓘ	-18.6	-17.2	-95.6	-91	-46.4	-11.7	-21.7	-79.6	40.2	336	40
Cash Flow from Ops. ⓘ	46.6	-0.2	-8.8	-1.3	-1	-61.4	-85	-84.8	160	358	-
Debt/CF from Ops. ⓘ	6	-1845.7	-39.6	-305.1	-370	-3.5	-6.4	-9.1	4.6	1.4	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	11%	NA	158.6%	76%
Adj EPS ⓘ	NA	NA	NA	734.4%
BVPSⓘ	-15.1%	NA	41.5%	263%
Share Price	-	-	-	-

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'11	Mar'12	Mar'13	Mar'14	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
Return on Equity % ⓘ	-8	-8	-61.8	-152.6	39.4	31.3	-13	-66.6	39.4	117	-171.6
Op. Profit Mgn % ⓘ	9.9	10.1	-10.3	-5.7	0	-498.4	-74.6	-37	9.3	34.7	-6.6
Net Profit Mgn % ⓘ	-5.1	-4.4	-27	-21.6	0	-1225	-40.1	-38.9	7.6	35.9	7.6
Debt to Equity ⓘ	1.6	2	5.8	-13.4	-1.5	1.2	3.4	9.6	6	1.1	-
Working Cap Days ⓘ	125	133	161	134	0	18,547	967	423	193	120	57
Cash Conv. Cycle ⓘ	31	36	42	20	0	4,216	142	21	-1	2	-39

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 - Sirpur Paper Mills Ltd.

	Standalone	Consolidated
TTM EPS (₹)	23.7	9.9
TTM Sales (₹ Cr.)	531	217
BVPS (₹.) ⓘ	-52.4	59.1
Reserves (₹ Cr.) ⓘ	-106	83
P/BV ⓘ	-0.20	0.18
PE ⓘ	0.45	1.07

From the Market
52 Week Low / High (₹)	10.64 / 10.64
All Time Low / High (₹)	7.66 / 205.60
Market Cap (₹ Cr.)	18.1
Equity (₹ Cr.)	17
Face Value (₹)	10
Industry PE ⓘ	7.1

Management X-Ray of Sirpur Paper Mills:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

93.19

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

Valuation of Sirpur Paper Mills

Analyst's Notes

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Key Ratios of Sirpur Paper Mills

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'11	Mar'12	Mar'13	Mar'14	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Sales	364.59	389.50	354.01	420.49	0	0.95	54.07	204.84	531.11	934.60
Operating Expenses ⓘ	328.38	350.44	393.75	444.50	31.91	5.71	94.39	280.69	481.93	610.15
Manufacturing Costs	157.32	167.55	133.56	131.36	14.20	0.03	64.14	143.53	159.96	206.86
Material Costs	91.72	100.34	173.73	229.11	0	0.65	13.28	84.42	257.34	330.15
Employee Cost	63.19	66.38	67.10	69.63	1.21	0.82	10.29	44.79	57.56	64.66
Other Costs ⓘ	16.14	16.17	19.36	14.40	16.50	4.20	6.68	7.95	7.06	8.48
Operating Profit ⓘ	36.21	39.06	-39.74	-24.02	-31.91	-4.76	-40.32	-75.85	49.18	324.45
Operating Profit Margin (%)	9.9%	10.0%	-11.2%	-5.7%	-	-498.0%	-74.6%	-37.0%	9.3%	34.7%
Other Income ⓘ	10.72	10.73	11.20	10.10	1.62	1.05	30.37	64.60	76.31	101.46
Interest ⓘ	34.74	41.87	44.88	48.22	0	2	7.43	49.47	62.99	51.89
Depreciation ⓘ	30.35	29.99	29.27	28.84	16.06	5.98	4.29	18.90	22.23	25.91
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	-11.08
Profit Before Tax ⓘ	-18.16	-22.07	-102.69	-90.98	-46.35	-11.69	-21.67	-79.62	40.27	337.02
Tax ⓘ	-0.25	-4.76	-5.59	0	0	0	0	0	0	9.16
Profit After Tax	-17.91	-17.31	-97.10	-90.98	-46.35	-11.69	-21.67	-79.62	40.27	327.85
PAT Margin (%)	-4.9%	-4.4%	-27.4%	-21.6%	-	-1,225.0%	-40.1%	-38.9%	7.6%	35.1%
Adjusted EPS (₹)	-11.3	-10.9	-59.1	-53.6	-27.3	-0.6	-1.2	-4.4	2.2	18.0
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'11	Mar'12	Mar'13	Mar'14	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Equity and Liabilities
Shareholders Fund	223.49	204.72	104.96	14.31	-249.65	175.04	158.63	80.33	123.99	449.91
Share Capital ⓘ	15.89	15.89	16.44	16.99	16.99	182	182	182	182	182
Reserves ⓘ	207.60	188.83	88.52	-2.69	-266.64	-6.96	-23.37	-101.67	-58.01	267.91
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	224.51	246.70	343.20	353.34	86.24	212.55	544.81	746.33	690.81	443.98
Long Term Debt	207.51	200.77	308.46	315.16	28.38	212.55	541.79	740.69	688.78	443.19
Short Term Debt	16.99	45.93	34.74	38.19	57.86	0	3.02	5.64	2.04	0.79
Trade Payables	46.61	57.18	80.40	94.70	90.78	10.97	44.77	55.69	42.02	38.61
Others Liabilities ⓘ	132.89	132.17	66.83	102.24	361.12	21.79	92.17	120.58	159.46	133.83
Total Liabilities ⓘ	627.50	640.78	595.40	564.59	288.49	420.36	840.38	1,002.94	1,016.29	1,066.33
Fixed Assets
Gross Block	809.30	755.22	743.37	753.40	282.61	79.08	563.08	573.33	760.33	790.99
Accumulated Depreciation	326.05	306.89	325.16	354.46	32.64	4.10	7.74	26.64	48.87	85.64
Net Fixed Assetsⓘ	483.25	448.33	418.21	398.94	249.97	74.98	555.34	546.69	711.46	705.34
CWIP ⓘ	5.12	10.30	9.36	0	0	275.54	48.71	141.03	6.30	8.43
Investmentsⓘ	0	0	0	0	0	0	0	0	0	0
Inventories	30.22	46.21	40.96	46.12	6.83	23.80	50.90	37.39	54.21	70.13
Trade Receivables	54.34	62.48	63.42	60.08	6.48	0	0.07	16.81	0	10.33
Cash Equivalents	8.27	13.93	3.70	1.49	1.21	10.14	9.50	9.97	7.61	7.70
Others Assetsⓘ	46.30	59.52	59.76	57.97	24	35.89	175.87	251.03	236.70	264.40
Total Assets ⓘ	627.50	640.78	595.40	564.59	288.49	420.36	840.38	1,002.94	1,016.29	1,066.33

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'11	Mar'12	Mar'13	Mar'14	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Cash Flow From Operating Activity ⓘ	46.62	-0.17	-8.78	-1.25	-1	-61.39	-84.96	-84.82	159.91	357.60
PBT ⓘ	-18.16	-22.07	-102.69	-90.98	-46.35	-11.69	-21.67	-79.62	40.27	337.02
Adjustment ⓘ	56.79	62.59	66.68	69.73	15.40	8.08	11.11	66.80	82.59	86.22
Changes in Working Capital ⓘ	8.67	-40.69	25.64	20.4	30.02	-57.77	-74.33	-71.87	37.69	-65.67
Tax Paid ⓘ	-0.67	0	1.60	-0.39	-0.07	-0.01	-0.07	-0.13	-0.64	0.04
Cash Flow From Investing Activity ⓘ	-5.58	-1.86	-4.81	-1.64	0.32	-96.05	-248.98	-105.97	-49.74	-47.32
Capex	-5.99	7.42	1.23	0.11	0.26	-96.36	-249.15	-106.20	-50.39	-48.17
Net Investments	0.41	0	0.43	0	0	0	0	0	0	0
Others ⓘ	0	-9.29	-6.47	-1.75	0.06	0.31	0.17	0.23	0.65	0.85
Cash Flow From Financing Activityⓘ	-37.45	-1.34	13.36	0.63	0.85	166.36	333.29	191.26	-112.53	-310.19
Net Proceeds from Shares ⓘ	5.01	0	2.39	2.37	0	139	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	31.14	195	70.36	-21.82	-142.51
Interest Paid ⓘ	-34	-37.68	-46.52	-38.80	0	-3.78	-2.73	-34.72	-76.11	-46.44
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Others ⓘ	-8.46	36.33	57.49	37.07	0.85	0	141.02	155.62	-14.60	-121.25
Net Cash Flow ⓘ	3.59	-3.37	-0.23	-2.26	0.17	8.93	-0.65	0.48	-2.36	0.09

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'11	Mar'12	Mar'13	Mar'14	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Ratios
ROE (%)	-10.08	-10.63	-90.45	-571.83	N/A	0	-12.99	-66.63	39.42	114.25
ROCE (%)	3.55	4.32	-13.25	-11.24	N/A	-3.81	-2.61	-3.87	12	43.21
Asset Turnover Ratio	0.59	0.65	0.61	0.77	0	0	0.09	0.25	0.56	0.93
PAT to CFO Conversion(x)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	3.97	1.09
Working Capital Days
Receivable Days	50	52	61	50	0	0	0	13	0	4
Inventory Days	31	34	42	36	0	5,857	252	70	30	23
Payable Days	194	189	144	139	0	0	766	217	69	45

Sirpur Paper Mills Ltd Stock News

Sirpur Paper Mills Ltd FAQs

What is the share price of Sirpur Paper Mills?

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

What is the market cap of Sirpur Paper Mills?

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 Sirpur Paper Mills stood at ₹18.07.

What is the P/E ratio of Sirpur Paper Mills?

The latest P/E ratio of Sirpur Paper Mills as of 01-Jan-1970 05:30 is 0.45.

What is the P/B ratio of Sirpur Paper Mills?

The latest P/B ratio of Sirpur Paper Mills as of 01-Jan-1970 05:30 is -0.20.

What is the 52-week high and low of Sirpur Paper Mills?

The 52-week high of Sirpur Paper Mills is ₹10.64 and the 52-week low is ₹10.64.

What is the TTM revenue of Sirpur Paper Mills?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Sirpur Paper Mills is ₹531.1 ( Cr.) .

About Sirpur Paper Mills Ltd

Sirpur Paper Mills incorporated in 1938, is amongst the largest paper manufacturers of variety and colour paper in India. The company manufactures wide range of papers â€“ writing and printing paper, typewriting paper, duplicating paper, creamwove, maplitho, ledger, bank account book paper, bond, parchment, fancy wrapping, pastel paper, cover paper, pulp board, lofty greeting, industrial Kraft, base paper for coated paper, duplex and triplex board.

Headquartered New Delhi, the companyâ€™s manufacturing units are located at Sirpur-Kaghaznagar (Andhra Pradesh). The company commenced production with a capacity of 5000 TPA, which currently stands at 1,38,300 TPA.

Company has a pan-India presence with a network of six specialised depots located in Delhi, Mumbai, Kolkata, Chennai, Jaipur and Hyderabad. It also has reach to more than 50 wholesalers spread across in 33 cities.

Companyâ€™s products are not only marketed in India but also internationally to countries like Sri Lanka, Malaysia, Bangladesh, Nepal, UAE, South Africa, Singapore, Nigeria and Mauritius.

The company has clientele namely Manipal Press, Greenply, Formica, Eveready, Nippo and Navneet Publications are among others.

Milestones

1938- Sirpur Paper Mills was incorporated under the management of Hyderabad Construction Company.

1942- The company started its production with a capacity of 14 TPD.

1949- The management was taken over by industrial trust funds of the state government.

1953- Company commissioned paper machine 2 with a capacity of 16 TPD and in the same year, management taken over by Birla Brothers.

1956- Company commissioned turbo alternator 2 and 3 with capacity of 7.5 MW each.

1959- Company started paper machine 3 with a capacity of 60 TPD.

1966- Company set up paper machine 4 commissioned with a capacity of 10 TPD.

1974- SPMLâ€™s paper machine 6 for the manufacture of boards commissioned with a capacity of 60 TPD.

1976- Company commissioned paper machine 5 with a capacity of 10 TPD.

1980- Companyâ€™s turbo alternator 4 commissioned with a capacity of 2.4 MW.

1982- Company set up evaporator with a capacity of 50 TPH.

1984- A recovery boiler for processing thick black liquor solids of 275 TPD was set up. Company was in the initial phase of effluent plant.

1985- Company set up turbo alternator 5 with a capacity of 5 MW.

1986- Company set up its secondary stage effluent treatment plant

1987- SPMLâ€™s drum chipper started functioning with a capacity of 20 TPH.

1994- Its second drum chipper commissioned with a capacity of 20 TPH. 75 TPH FBC boiler commissioned, enabling the Company to use low-grade, high-ash content coal for captive power generation.

The same year the management was taken over by Shri Ranjan Kumar Poddar.

1999- Companyâ€™s second 75 TPH boiler was set up, this made the company totally self-reliant in area of power requirement.

2000- The Company installed an SAP/R3 client-server based, enterprise-wide resource planning solution. Non-ferric alum plant of 25 TPD commissioned.

2002- The company set up paper machine 7 with a capacity of 60 TPD. It also set up a new bleaching unit and soda recovery boiler was retrofitted.

2003- Company established a 9.5 MW turbo alternator and cooling tower installed.

2005- A 135 TPD rotary lime kiln was installed.

2010 - The Company introduced Twin Roll Press with capacity of 30-40 TPD wet pulp per day.