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BSE: 532230 | NSE: | Textile - Spinning | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Bengal Tea & Fabrics Ltd is a average quality company.
The key valuation ratios of Bengal Tea & Fabrics 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 Weak which suggest that the price of Bengal Tea & Fabrics Ltd is likely to Fall 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'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 3.4% | 3% | -1.5% | -2.8% | 0.5% | 0.2% | 7.4% | 16.4% | -1.4% | -2.4% | - |
| Value Creation Index ⓘ | -0.8 | -0.8 | -1.1 | -1.2 | -1.0 | -1.0 | -0.5 | 0.2 | -1.1 | -1.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 223 | 223 | 214 | 145 | 111 | 111 | 49.2 | 55.1 | 49.5 | 56.1 | 56 |
| Sales YoY Gr. | - | 0.1% | -4.1% | -32.2% | -23.8% | 0% | -55.6% | 12.1% | -10.2% | 13.3% | - |
| Adj EPS ⓘ | 1 | 1.3 | -6.9 | -7.4 | -1.3 | -1.7 | 9.2 | 20.8 | -2.2 | -3.4 | -2.9 |
| YoY Gr. | - | 29.1% | -617.3% | NA | NA | NA | NA | 127.2% | -110.6% | NA | - |
| BVPS (₹) ⓘ | 70.4 | 71.9 | 112.6 | 107.5 | 106.4 | 104.3 | 107.6 | 127.7 | 125.8 | 121.7 | 121.7 |
| Adj Net Profit ⓘ | 0.9 | 1.2 | -6.2 | -6.7 | -1.2 | -1.5 | 8.3 | 18.8 | -2 | -3.1 | -3 |
| Cash Flow from Ops. ⓘ | 35.2 | 18.8 | 18.6 | 9 | 3.3 | 4.5 | 6 | 6.6 | 6.1 | 79.4 | - |
| Debt/CF from Ops. ⓘ | 1.9 | 2.9 | 2.8 | 2.9 | 7.1 | 4.7 | 3.3 | 0.1 | 1.1 | 0.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -14.2% | -12.7% | 4.5% | 13.3% | ||||
| Adj EPS ⓘ | -214.3% | NA | -172.1% | NA | ||||
| BVPSⓘ | 6.3% | 2.7% | 4.2% | -3.3% | ||||
| Share Price | 12.9% | 40.7% | 26.7% | 103.9% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0.9 | 1 | -5.9 | -6.7 | -1.2 | -1.6 | 8.6 | 17.7 | -1.8 | -2.8 | -2.4 |
| Op. Profit Mgn % ⓘ | 7.2 | 8.3 | 4.1 | 0.6 | 3.4 | 3.5 | 20.6 | 18 | -0.4 | -5.6 | -5.6 |
| Net Profit Mgn % ⓘ | 0.4 | 0.5 | -2.9 | -4.6 | -1.1 | -1.3 | 16.8 | 34 | -4 | -5.5 | -4.6 |
| Debt to Equity ⓘ | 1.1 | 0.9 | 0.5 | 0.3 | 0.2 | 0.2 | 0.2 | 0 | 0.1 | 0.1 | 0 |
| Working Cap Days ⓘ | 122 | 124 | 120 | 145 | 171 | 176 | 403 | 277 | 207 | 125 | 773 |
| Cash Conv. Cycle ⓘ | 68 | 62 | 60 | 87 | 111 | 107 | 211 | 172 | 156 | 72 | 651 |
Sales growth is good in last 4 quarters at 13.11%
Return on Equity is Poor
Sales growth has been subdued in last 3 years 4.50%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -2.9 | - |
| TTM Sales (₹ Cr.) | 56.1 | - |
| BVPS (₹.) ⓘ | 121.7 | - |
| Reserves (₹ Cr.) ⓘ | 101 | - |
| P/BV ⓘ | 1.36 | - |
| PE ⓘ | 0.00 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 75.35 / 184.00 |
| All Time Low / High (₹) | 0.92 / 184.00 |
| Market Cap (₹ Cr.) | 149 |
| Equity (₹ Cr.) | 9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 30.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 223 | 223 | 214 | 145 | 111 | 111 | 49 | 55 | 50 | 56 |
| Operating Expenses ⓘ | 207 | 204 | 205 | 144 | 107 | 107 | 39 | 45 | 50 | 59 |
| Manufacturing Costs | 49 | 49 | 29 | 30 | 29 | 29 | 6 | 6 | 7 | 6 |
| Material Costs | 115 | 109 | 115 | 66 | 46 | 41 | 12 | 14 | 16 | 25 |
| Employee Cost | 30 | 33 | 31 | 32 | 24 | 26 | 17 | 19 | 20 | 22 |
| Other Costs ⓘ | 13 | 13 | 30 | 16 | 8 | 10 | 4 | 6 | 7 | 5 |
| Operating Profit ⓘ | 16 | 19 | 9 | 1 | 4 | 4 | 10 | 10 | 0 | -3 |
| Operating Profit Margin (%) | 7.2% | 8.7% | 4.1% | 0.6% | 3.4% | 3.5% | 20.6% | 18.0% | -0.4% | -5.6% |
| Other Income ⓘ | 4 | 2 | 2 | 3 | 2 | 1 | 1 | 1 | 3 | 8 |
| Interest ⓘ | 8 | 6 | 6 | 4 | 3 | 2 | 1 | 0 | 0 | 0 |
| Depreciation ⓘ | 10 | 12 | 12 | 8 | 5 | 5 | 2 | 2 | 2 | 2 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30 | 0 | 0 |
| Profit Before Tax ⓘ | 2 | 2 | -7 | -7 | -1 | -2 | 9 | 39 | 1 | 2 |
| Tax ⓘ | 0 | 1 | -1 | -2 | -1 | -1 | 0 | -1 | 2 | 5 |
| Profit After Tax | 2 | 2 | -6 | -5 | 0 | -1 | 8 | 40 | -1 | -3 |
| PAT Margin (%) | 0.9% | 0.8% | -2.7% | -3.5% | -0.3% | -1.2% | 16.9% | 72.5% | -2.4% | -4.6% |
| Adjusted EPS (₹) | 2.2 | 2.1 | -6.5 | -5.6 | -0.4 | -1.5 | 9.2 | 44.4 | -1.3 | -2.9 |
| Dividend Payout Ratio (%) | 23% | 24% | 0% | 0% | 0% | 0% | 11% | 2% | -75% | -35% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 142 | 108 | 101 | 97 | 96 | 94 | 97 | 115 | 113 | 110 |
| Share Capital ⓘ | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves ⓘ | 133 | 99 | 92 | 88 | 87 | 85 | 88 | 106 | 104 | 101 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 56 | 47 | 44 | 24 | 20 | 21 | 19 | 0 | 7 | 6 |
| Long Term Debt | 35 | 27 | 18 | 8 | 2 | 0 | 3 | 0 | 0 | 2 |
| Short Term Debt | 21 | 20 | 25 | 16 | 19 | 21 | 16 | 0 | 7 | 4 |
| Trade Payables | 13 | 17 | 13 | 7 | 10 | 14 | 13 | 2 | 2 | 2 |
| Others Liabilities ⓘ | 24 | 22 | 17 | 5 | 3 | -1 | 0 | 0 | -2 | 72 |
| Total Liabilities ⓘ | 236 | 194 | 175 | 132 | 129 | 128 | 129 | 117 | 120 | 189 |
Fixed Assets | ||||||||||
| Gross Block | 237 | 194 | 109 | 87 | 89 | 92 | 88 | 55 | 58 | 64 |
| Accumulated Depreciation | 82 | 85 | 12 | 16 | 21 | 25 | 24 | 8 | 10 | 11 |
| Net Fixed Assetsⓘ | 155 | 109 | 98 | 70 | 68 | 67 | 64 | 47 | 48 | 53 |
| CWIP ⓘ | 0 | 0 | 1 | 1 | 1 | 2 | 2 | 1 | 2 | 1 |
| Investmentsⓘ | 5 | 7 | 10 | 7 | 8 | 2 | 9 | 10 | 41 | 122 |
| Inventories | 43 | 45 | 40 | 35 | 35 | 39 | 36 | 25 | 21 | 5 |
| Trade Receivables | 11 | 10 | 9 | 7 | 9 | 8 | 10 | 0 | 0 | 1 |
| Cash Equivalents | 2 | 1 | 3 | 1 | 1 | 2 | 1 | 14 | 2 | 0 |
| Others Assetsⓘ | 21 | 22 | 14 | 11 | 8 | 9 | 8 | 20 | 5 | 7 |
| Total Assets ⓘ | 236 | 194 | 175 | 132 | 129 | 128 | 129 | 117 | 120 | 189 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 35 | 19 | 19 | 9 | 3 | 5 | 6 | 7 | 6 | 79 |
| PBT ⓘ | 2 | 2 | -7 | -7 | -1 | -2 | 4 | 18 | 2 | 2 |
| Adjustment ⓘ | 16 | 17 | 16 | 11 | 6 | 6 | 2 | -15 | -3 | -5 |
| Changes in Working Capital ⓘ | 17 | -0 | 9 | 6 | -2 | 1 | 1 | 5 | 10 | 84 |
| Tax Paid ⓘ | -1 | -1 | 0 | 0 | 0 | 0 | 0 | -1 | -2 | -2 |
| Cash Flow From Investing Activity ⓘ | -10 | -3 | -3 | 20 | 1 | 1 | -3 | 28 | -24 | -79 |
| Capex | -13 | -1 | -1 | 16 | 1 | -5 | 4 | 28 | 5 | -5 |
| Net Investments | 3 | -2 | -2 | 3 | 0 | 6 | -7 | 0 | -30 | -76 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 |
| Cash Flow From Financing Activityⓘ | -25 | -16 | -14 | -30 | -5 | -5 | -4 | -21 | 5 | -2 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -2 | -8 | -9 | -16 | -6 | -5 | 3 | -1 | 0 | 2 |
| Interest Paid ⓘ | -8 | -6 | -5 | -4 | -3 | -2 | -2 | -2 | 0 | 0 |
| Dividend Paid ⓘ | -2 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 | -1 |
| Others ⓘ | -13 | -2 | 1 | -10 | 3 | 2 | -5 | -18 | 6 | -3 |
| Net Cash Flow ⓘ | 1 | -1 | 2 | -1 | 0 | 1 | -1 | 14 | -13 | -1 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.08 | 2.92 | -6.99 | -5.06 | -0.34 | -1.41 | 8.71 | 37.72 | -1.06 | -2.33 |
| ROCE (%) | 7.12 | 6.82 | -0.88 | -2.44 | 1.08 | 0.38 | 7.83 | 34.05 | 0.86 | 2.42 |
| Asset Turnover Ratio | 1.08 | 1.04 | 1.16 | 0.95 | 0.85 | 0.86 | 0.38 | 0.45 | 0.42 | 0.36 |
| PAT to CFO Conversion(x) | 17.5 | 9.5 | N/A | N/A | N/A | N/A | 0.75 | 0.18 | N/A | N/A | Working Capital Days |
| Receivable Days | 21 | 17 | 16 | 20 | 26 | 28 | 64 | 32 | 2 | 4 |
| Inventory Days | 67 | 72 | 73 | 94 | 114 | 121 | 276 | 203 | 170 | 85 |
| Payable Days | 35 | 51 | 48 | 56 | 67 | 105 | 408 | 193 | 41 | 26 |
Bengal Tea & Fabrics, belonging to the B D Kanoria Group was incorporated in the year 1983. The company took over the Bengal Tea & Industries, earlier known as Bengal Tea Company, in the year 1985.
Bengal Tea Company was incorporated in the year 1950 by the Kanorias and took over the undertakings of The Ananda Assam Tea Company and Asarwa Mills in the year 1970 and 1976, respectively.
Currently the company has interest in the business of Tea and Textiles, with a turnover of about Rs 126.8 crore.
The tea estates of the company are situated in
Asarwa Mills, a composite textile mill, is situated in the heart of Ahmedabad in the state of
Product Variety:
The Company has interest in the business of tea and textiles.
Tea -
Bengal Tea owns following three tea estates with an annual production of about 1.7 million kilo grams of tea, having a planted area of 623 hectares, situated in North Lakhimpur in
The Company processes the green tea leaves at its own factory situated at Ananda Tea Estate. It also processes green tea leaves purchased from small growers.
Products:
Black Tea - CTC - Leaf and Dust and tea seed.
Textile -
The company owns a composite textile mill, namely Asarwa Mills, with an installed capacity of 47,616 spindles and 94 looms, situated in Ahmedabad in the state of
Products:
Latest Development:
The board of directors of Bengal Tea & Fabrics has recommended a dividend of 5%, at Re 0.50 per equity share of Rs 10 each, subject to shareholders approval.
Outlook:
Due to improvement of demand of quality and the company’s thrust on producing the same, the tea division is expected to maintain profitability.
The outlook of the textile industry appears to be brighter as the farmers continue to cover more area for sowing of BT cottonseeds resulting in higher yields. The company has undertaken the second phase of modernization cum expansion plan and is visualizing a big opportunity in the country having a population of over 1.1 billion with the improving standard of living and changing lifestyle.
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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.
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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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