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Ginni Filaments Ltd. Stock Analysis

Small Cap
Evaluated by 324 users | BSE: 590025 | NSE: GINNIFILA |
Textile - Spinning
Ginni Filaments (GFL) was commissioned with 26208 spindles in 1990 to produce ultrafine combed cotton yarn. A 100% export oriented unit, it was designed to produce a quality that was genuinely world class. Sophisticated plant & machinery from the world renowned machinery manufacturers viz....

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'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 7.81%-2.17%9.97%14.08%8.53%6.29%8.41%5.46%4.16%4.38%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 693712745868848750765703809788
Y-o-Y Gr. Rt.-2.8%4.6%16.6%-2.3%-11.5%1.9%-8.1%15.1%-2.6%
Adjusted EPS (Rs.) 2.32-5.932.476.011.330.552.390.56-0.55-0.29
Y-o-Y Gr. Rt.--355.6%NA143.3%-77.9%-58.7%334.6%-76.6%-198.2%NA
Book Value per Share (Rs.) 16.8610.6813.1618.2919.3920.0124.9125.3125.3226.26
Adjusted Net Profit 16.4-41.917.542.59.43.916.94-3.9-2.1
Net Op. Cash Flow (Rs. Cr.) -2.573.264.879.680.780.585.33555.912
Debt to Cash Flow from Ops -174.225.446.034.414.013.563.168.395.1525.76
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.
Ginni Filaments Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 1.4%-1.4%1%-2.6%
Adjusted EPS -179.4%-173.7%-149.5%NA
Book Value per Share 5.16.31.83.7
Share Price 13.3% -4% -26.8% 110.5%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 13.98-40.0319.0435.826.662.6310.382.24-2.17-1.13
Operating Profit Margin (%) 12.31-0.1612.5813.6610.769.0810.447.826.467.54
Net Profit Margin (%) 2.37-5.892.344.891.110.522.20.57-0.48-0.26
Debt to Equity 3.384.83.892.572.241.921.531.641.611.66
Working Capital Days 151141118123131137124138134148
Cash Conversion Cycle 859073748187829486102
Entity Percentage Holding
Promoters 63.29%
Institutions 0.01%
Non-Institutions 36.69%
Others 0.01%
Pledged *40.5340.530.0040.4140.2940.2439.9939.7939.6939.58
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Ginni Filaments Ltd.'s performance infers:

Ginni Filaments Ltd. earnings have declined by -173.7%, whereas share price has depreciated -4% 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.

We analysed the performance of Ginni Filaments Ltd. share prices over the last 10 years. Here is what we found out:

Ginni Filaments Ltd. share price has depreciated 2.6% annually over the past ten years.

Ginni Filaments (GFL) was commissioned with 26208 spindles in 1990 to produce ultrafine combed cotton yarn. A 100% export oriented unit, it was designed to produce a quality that was genuinely world class. Sophisticated plant & machinery from the world renowned machinery manufacturers viz. Rieter, Schlafhorst, Volkmann etc. with top of the line support systems for quality monitoring were installed.

Dr. Rajaram Jaipuria with his vision and foresightedness
Ginni Filaments (GFL) was commissioned with 26208 spindles in 1990 to produce ultrafine combed cotton yarn. A 100% export oriented unit, it was designed to produce a quality that was genuinely world class. Sophisticated plant & machinery from the world renowned machinery manufacturers viz. Rieter, Schlafhorst, Volkmann etc. with top of the line support systems for quality monitoring were installed.

Dr. Rajaram Jaipuria with his vision and foresightedness concieved the Ginni Group. With 44 years behind him in managing industries including textiles, sugar and synthetic fibre etc

Located in Tehsil Chatta, Distt. Mathura, Uttar Pradesh, GFL has consistently grown from one strength to another. Installed capacity today stands at 60336 spindles with a capacity of 1000 tonnes per month. 

In January 1998, GFL embarked upon an ambitious expansion project by entering the arena for Open End Yarn. GFL has 1680 rotors with a capacity to produce 600 tonnes per month of open end yarn in the count range of Ne 6 to 20. Products have been well accepted by buyers around the world.

The company has also graduated into knitted fabrics and installed 26 knitting machines from M/s. Terrot and Mayer to produce Single Jersey, Interlock, Rib Terry and Lycra fabrics. Since April 2005, GFL has expanded into processed knitted fabrics. The complete machinery have been imported from Thies & Santex. Ginni has started working with some leading European brands and other global brands like Benetton, C & A, Allen Solly, Van Heusen, J C Penny etc. The success story at GFL is the story of evolution of single minded devotion to quality. The company obtained the ISO 9002 certification as early as 1996 and also got the recognised as Trading house by the Govt. Of India.

In order to get fully vertically integrated and be present from fibre to fashion, Ginni Filaments Limited has entered garment business with it's first unit in Noida in Sept. 2006, with a capacty of 2,50,000 pcs per month. The capacity would be increased to one million pcs per month in a phased manner.

The plant for spunlace non woven fabrics with an installed capacity of 12,000 MT/p.a. which is the first of its kind in India commenced production in March, 2007 in Panoli Industrial Estate, Gujarat. 

Converted products made out of spunlace non woven fabrics have been launched by the company in the Indian Market

Product range of the company includes:

Yarn- Ginni Filaments is one of the leading integrated manufacturers of cotton yarn, processed knit fabrics and knit garments in India. The company also produces spunlace nonwoven fabrics which are used in personal hygiene, healthcare and other technical textiles. Branded products under Ginni brand are distributed all over India.
Fabric -Single Jersey, Single Jersey with Lycra , Rib, Rib with Lycra,Interlock,Pique,Pique with Lycra,Gassed Single Jersey ,Viscose Lycra ,Terry Fabric,Interlock Polyester Fabric,Polar Fleece Fabric, Cotton Melange Single Jersey, Cotton Melange with Lycra.

Textiles- In order to get fully vertically integrated & be present from fibre to fashion, Ginni Filaments has entered into garment business with its first unit at Noida (near New Delhi, India).

Milestones
  • 1990-Capacity installed 
  • 1993-Installed capacity increased to
  • 1995-Installed capacity increased to 
  • 2006-Installed capacity increased to 
  • 1995-Forward integration into knitting 
  • 2005-Set up a knit process house 
  • 2006-Installation of rotor  
  • 2006 -Venture into Nonwoven Consumer Products   
  • 2006 -Venture into Knit Garmenting 
  • 2007 -Venture into Spunlace Nonwoven 
  • 2007 -Venture into Consumer products made from spunlace fabric.


Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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