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BSE: 531503 | NSE: | Textile - Spinning | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Maris Spinners Ltd is a average quality company.
The key valuation ratios of Maris Spinners 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 Maris Spinners 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'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 13.4% | 11.8% | 10.6% | 8.8% | 7.1% | 9.6% | 1.9% | 15.4% | 23.7% | -8% | - |
| Value Creation Index ⓘ | 0.0 | -0.2 | -0.3 | -0.4 | -0.5 | -0.3 | -0.9 | 0.1 | 0.7 | -1.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 116 | 120 | 105 | 118 | 122 | 130 | 122 | 106 | 170 | 147 | 166 |
| Sales YoY Gr. | - | 3.5% | -12.4% | 12.3% | 3.8% | 6.3% | -5.9% | -13.3% | 60.7% | -13.9% | - |
| Adj EPS ⓘ | 5 | 4.1 | 3.9 | 3.2 | 1.3 | 3 | -2.8 | 8 | 19.4 | -13.7 | -13.5 |
| YoY Gr. | - | -18% | -3.9% | -16.9% | -61.1% | 139.7% | -191.1% | NA | 141.5% | -170.6% | - |
| BVPS (₹) ⓘ | 19 | 21.9 | 24.7 | 28 | 28.1 | 29.9 | 26.2 | 34.3 | 53.4 | 38.3 | 27 |
| Adj Net Profit ⓘ | 4.1 | 3.3 | 3.2 | 2.7 | 1 | 2.5 | -2.3 | 6.6 | 15.4 | -10.9 | -11 |
| Cash Flow from Ops. ⓘ | 13.3 | 17.7 | 10.6 | 21.7 | 10.8 | -1.5 | 11.8 | 0.6 | 42.8 | 24.9 | - |
| Debt/CF from Ops. ⓘ | 3.8 | 2.7 | 4.4 | 2.2 | 3.3 | -26 | 2.8 | 72.9 | 0.9 | 2.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 2.7% | 3.7% | 6.3% | -13.9% | ||||
| Adj EPS ⓘ | -212% | -261.2% | NA | -170.6% | ||||
| BVPSⓘ | 8.1% | 6.4% | 13.5% | -28.3% | ||||
| Share Price | - | -2.4% | 13.4% | -14.9% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 29.6 | 20.2 | 17 | 12.5 | 4.6 | 10.6 | -9.9 | 27 | 44 | -29.9 | -41.4 |
| Op. Profit Mgn % ⓘ | 15.9 | 11.5 | 11.2 | 8.5 | 6.5 | 6.7 | 2.9 | 14.4 | 17.5 | -5.4 | -3.9 |
| Net Profit Mgn % ⓘ | 3.5 | 2.8 | 3 | 2.3 | 0.8 | 1.9 | -1.8 | 6.2 | 9 | -7.4 | -6.5 |
| Debt to Equity ⓘ | 3.3 | 2.8 | 2.3 | 2.1 | 1.6 | 1.6 | 1.6 | 1.6 | 0.9 | 2.1 | - |
| Working Cap Days ⓘ | 160 | 155 | 167 | 172 | 182 | 173 | 160 | 181 | 147 | 175 | 57 |
| Cash Conv. Cycle ⓘ | 113 | 109 | 117 | 102 | 92 | 86 | 85 | 93 | 61 | 61 | -17 |
Sales growth is good in last 4 quarters at 15.09%
Return on Equity is Poor
Sales growth has been subdued in last 3 years 6.30%
Debt to equity has increased versus last 3 years average to 2.09
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -13.5 | - |
| TTM Sales (₹ Cr.) | 166 | - |
| BVPS (₹.) ⓘ | 27 | - |
| Reserves (₹ Cr.) ⓘ | 13 | - |
| P/BV ⓘ | 1.41 | - |
| PE ⓘ | 0.00 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 32.41 / 51.00 |
| All Time Low / High (₹) | 0.15 / 169.90 |
| Market Cap (₹ Cr.) | 30.2 |
| Equity (₹ Cr.) | 7.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 31.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 115.63 | 119.69 | 104.87 | 117.73 | 122.20 | 129.89 | 122.23 | 106.02 | 170.40 | 146.80 |
| Operating Expenses ⓘ | 97.30 | 105.96 | 93.10 | 107.74 | 114.22 | 121.22 | 118.75 | 90.77 | 140.51 | 154.70 |
| Manufacturing Costs | 22.30 | 22.08 | 21.81 | 20.93 | 21.79 | 22 | 22 | 18.24 | 25.14 | 23.35 |
| Material Costs | 63.02 | 71.55 | 58.08 | 72.78 | 78.62 | 83.27 | 81.98 | 59.94 | 97.38 | 113.24 |
| Employee Cost | 6.89 | 7.34 | 8.66 | 8.69 | 9.42 | 11.05 | 10.39 | 8.84 | 11.32 | 12.21 |
| Other Costs ⓘ | 5.11 | 4.99 | 4.56 | 5.34 | 4.38 | 4.90 | 4.39 | 3.76 | 6.67 | 5.90 |
| Operating Profit ⓘ | 18.33 | 13.73 | 11.77 | 9.99 | 7.98 | 8.67 | 3.48 | 15.26 | 29.89 | -7.91 |
| Operating Profit Margin (%) | 15.9% | 11.5% | 11.2% | 8.5% | 6.5% | 6.7% | 2.8% | 14.4% | 17.5% | -5.4% |
| Other Income ⓘ | 4.07 | 3.05 | 2.53 | 2.79 | 2.77 | 2.75 | 2.84 | 2.62 | 1.57 | 3.16 |
| Interest ⓘ | 7.47 | 6.40 | 5.42 | 4.74 | 4.98 | 4.85 | 4.79 | 4.43 | 3.78 | 5.51 |
| Depreciation ⓘ | 7.12 | 5.41 | 4.93 | 5.06 | 4.98 | 4.64 | 4.71 | 4.22 | 4.35 | 5.43 |
| Exceptional Items ⓘ | -0.01 | -0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 7.80 | 4.97 | 3.95 | 2.99 | 0.78 | 1.93 | -3.17 | 9.23 | 23.33 | -15.69 |
| Tax ⓘ | 3.76 | 1.65 | 0.76 | 0.34 | -0.25 | -0.55 | -1.02 | 2.46 | 7.90 | -4.83 |
| Profit After Tax | 4.04 | 3.31 | 3.19 | 2.65 | 1.03 | 2.48 | -2.15 | 6.76 | 15.43 | -10.86 |
| PAT Margin (%) | 3.5% | 2.8% | 3.0% | 2.3% | 0.8% | 1.9% | -1.8% | 6.4% | 9.1% | -7.4% |
| Adjusted EPS (₹) | 5.0 | 4.1 | 4.0 | 3.3 | 1.3 | 3.1 | -2.7 | 8.4 | 19.5 | -13.7 |
| Dividend Payout Ratio (%) | 20% | 24% | 25% | 30% | 78% | 33% | 0% | 12% | 5% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 15.23 | 17.59 | 19.82 | 22.49 | 22.56 | 24.10 | 21.07 | 27.65 | 42.32 | 30.33 |
| Share Capital ⓘ | 8.02 | 8.03 | 8.03 | 8.04 | 8.04 | 8.05 | 8.06 | 8.06 | 7.92 | 7.92 |
| Reserves ⓘ | 7.21 | 9.56 | 11.79 | 14.45 | 14.52 | 16.04 | 13.02 | 19.59 | 34.39 | 22.40 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 50.86 | 42.89 | 46.39 | 47.02 | 36.08 | 39.63 | 32.80 | 40.34 | 33.49 | 57.87 |
| Long Term Debt | 20.53 | 14.44 | 11.57 | 10.63 | 7.69 | 6.86 | 6.14 | 10.16 | 20.72 | 32.37 |
| Short Term Debt | 30.33 | 28.45 | 34.82 | 36.39 | 28.39 | 32.77 | 26.66 | 30.18 | 12.77 | 25.50 |
| Trade Payables | 6.66 | 3.74 | 6.03 | 16.21 | 24.28 | 20.63 | 13.24 | 10.01 | 24.36 | 34.07 |
| Others Liabilities ⓘ | 20.45 | 17.28 | 11.12 | 7.02 | 6.17 | 5.53 | 4.42 | 9.94 | 18.86 | 7.30 |
| Total Liabilities ⓘ | 93.20 | 81.50 | 83.35 | 92.73 | 89.09 | 89.89 | 71.53 | 87.93 | 119.02 | 129.56 |
Fixed Assets | ||||||||||
| Gross Block | 108.12 | 111.56 | 113.42 | 115.70 | 116.01 | 123.20 | 125.07 | 128.44 | 137.62 | 176.54 |
| Accumulated Depreciation | 71.13 | 76.22 | 81.07 | 86.13 | 90.83 | 95.43 | 99.88 | 101.44 | 105.60 | 110.83 |
| Net Fixed Assetsⓘ | 36.99 | 35.35 | 32.35 | 29.57 | 25.17 | 27.77 | 25.19 | 27 | 32.02 | 65.71 |
| CWIP ⓘ | 0.60 | 0.09 | 0.30 | 1.02 | 2.16 | 0.12 | 0.16 | 0.54 | 8.65 | 1.16 |
| Investmentsⓘ | 0 | 0 | 0.01 | 0.07 | 0.07 | 0.07 | 0.07 | 0.06 | 0.06 | 0.06 |
| Inventories | 31.39 | 19.89 | 28.05 | 36.92 | 36.94 | 38.36 | 25.52 | 36.47 | 47.26 | 39.60 |
| Trade Receivables | 15.81 | 16.53 | 13.28 | 13.01 | 17.26 | 14.81 | 12.57 | 5.86 | 7.81 | 5.64 |
| Cash Equivalents | 0.16 | 0.13 | 0.42 | 1.55 | 0.52 | 0.27 | 0.78 | 0.63 | 0.29 | 0.26 |
| Others Assetsⓘ | 8.26 | 9.52 | 8.94 | 10.60 | 6.98 | 8.49 | 7.24 | 17.37 | 22.92 | 17.12 |
| Total Assets ⓘ | 93.20 | 81.50 | 83.35 | 92.73 | 89.09 | 89.89 | 71.53 | 87.93 | 119.02 | 129.56 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 13.31 | 17.74 | 10.57 | 21.67 | 10.84 | -1.52 | 11.76 | 0.60 | 42.80 | 24.89 |
| PBT ⓘ | 7.80 | 4.97 | 3.95 | 2.98 | 0.74 | 1.82 | -3.17 | 9.23 | 23.33 | -15.69 |
| Adjustment ⓘ | 12.75 | 11.05 | 9.86 | 9.44 | 9.68 | 9.18 | 9.09 | 7.80 | 7.63 | 10.22 |
| Changes in Working Capital ⓘ | -7.24 | 3.4 | -2.44 | 10.18 | 0.58 | -12.36 | 5.84 | -15.42 | 17.49 | 30.83 |
| Tax Paid ⓘ | 0 | -1.68 | -0.80 | -0.93 | -0.16 | -0.15 | 0 | -1 | -5.65 | -0.48 |
| Cash Flow From Investing Activity ⓘ | -5.73 | -3.16 | -2.15 | -3.05 | -1.47 | -5.77 | -1.81 | -5.55 | -19.48 | -30.62 |
| Capex | -5.41 | -3.67 | -1.92 | -2.28 | -0.64 | -7.22 | -2.13 | -5.76 | -9.53 | -31.65 |
| Net Investments | 0 | 0 | -0.01 | -0.05 | 0 | 0 | 0 | 0.01 | 0.12 | 0 |
| Others ⓘ | -0.32 | 0.52 | -0.22 | -0.72 | -0.83 | 1.45 | 0.32 | 0.20 | -10.07 | 1.04 |
| Cash Flow From Financing Activityⓘ | -8.68 | -14.62 | -8.12 | -8.92 | -4.12 | -6.38 | -6.14 | -0.15 | 6.36 | 5.70 |
| Net Proceeds from Shares ⓘ | 0 | 0.03 | 0 | 0.02 | 0 | 0.01 | 0.01 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | -0.83 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -5.73 | -5.74 | -4.94 | -4.74 | -4.91 | -4.57 | -4.47 | -4.17 | -3.41 | -5.15 |
| Dividend Paid ⓘ | 0 | -0.93 | -0.97 | 0 | -0.96 | -0.96 | -0.97 | 0 | -0.79 | -0.79 |
| Others ⓘ | -2.96 | -7.97 | -2.22 | -4.21 | 1.75 | -0.02 | -0.71 | 4.02 | 10.56 | 11.65 |
| Net Cash Flow ⓘ | -1.11 | -0.03 | 0.29 | 9.69 | 5.25 | -13.68 | 3.81 | -5.10 | 29.69 | -0.03 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 29.56 | 20.19 | 17.04 | 12.53 | 4.58 | 10.61 | -9.52 | 27.76 | 44.1 | -29.91 |
| ROCE (%) | 22.07 | 17.2 | 14.16 | 11.39 | 9 | 11.08 | 2.74 | 21.76 | 35.56 | -11.67 |
| Asset Turnover Ratio | 1.29 | 1.37 | 1.27 | 1.34 | 1.34 | 1.45 | 1.51 | 1.33 | 1.65 | 1.18 |
| PAT to CFO Conversion(x) | 3.29 | 5.36 | 3.31 | 8.18 | 10.52 | -0.61 | N/A | 0.09 | 2.77 | N/A | Working Capital Days |
| Receivable Days | 47 | 49 | 52 | 41 | 45 | 45 | 41 | 32 | 15 | 17 |
| Inventory Days | 88 | 78 | 83 | 101 | 110 | 106 | 95 | 107 | 90 | 108 |
| Payable Days | 37 | 27 | 31 | 56 | 94 | 98 | 75 | 71 | 64 | 94 |
Maris Spinners was originally incorporated as a Private Limited Company on September 18, 1979. The company became a deemed Public Limited Company under section 43A (1A) of the Companies Act, 1956 from July 1, 1994. Consequently the name of the company was changed to Maris Spinners Limited by deleting the word Private, and a fresh certificate of incorporation was issued on February 9, 1995.
The Company commenced commercial production in 1981 with an installed capacity of 11,856 spindles. Since its inception, the Company has undertaken regular expansion and modernization programmes to increase capacity and productivity. The present capacity of the spinning unit is 24,672 spindles.
The company presently manufactures 100% cotton carded yarn of counts 30s, and 40s for weaving, knitting and handlooms. The Company's spinning unit is located in Kattemalalavadi village, Hunsur taluk, Mysore District, Karnataka. Maria Spinners has a sound track record of productivity, and has been producing high quality yarn for the domestic market.
The registered office of the company is located at 11, Cathedral Road, Chennai-600086
Business area of the company
The company is engaged in manufacturing of 100% cotton carded yarn for weaving, knitting and handlooms.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
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.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
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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