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Precot Meridian Ltd. Stock Analysis

Small Cap
Evaluated by 40 users | BSE: 521184 | NSE: PRECOT |
Textile - Spinning
Established in 1962, Precot has symbolized Quality and Trust in the textile industry. With four decades of spinning experience and a diverse range of products that include cotton yarns, sewing threads, fabrics and garments; Precot is one of the few totally integrated textile players with a...

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 6.62%9.05%-6.31%7.31%8.32%-3.24%-2.6%-1.12%-0.22%2.8%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 437578594667738747684679709790
Y-o-Y Gr. Rt.-32.4%2.8%12.3%10.6%1.2%-8.5%-0.6%4.4%11.4%
Adjusted EPS (Rs.) 14.3130.2-45.7714.5221.68-35.39-33.57-30.93-25.8-8.47
Y-o-Y Gr. Rt.-111%-251.6%NA49.3%-263.2%NANANANA
Book Value per Share (Rs.) 140.03158.75105.09116.46133.34112.2165.95271.19266.74260.22
Adjusted Net Profit 14.931.5-51.317.426-42.5-40.3-37.1-31-10.2
Net Op. Cash Flow (Rs. Cr.) 5.4-10216329.334.891.529.119.710.873
Debt to Cash Flow from Ops 41.95-3.811.8214.9612.874.1913.717.9135.324.85
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.
Precot Meridian Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 6.8%1.4%4.9%11.4%
Adjusted EPS -194.3%-182.9%NANA
Book Value per Share 7.114.358-2.4
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) 11.0420.22-36.0613.4617.36-28.82-37.69-18.35-9.59-3.22
Operating Profit Margin (%) 14.7614.31-2.7312.0811.53.146.084.314.117.42
Net Profit Margin (%) 3.425.45-8.642.613.52-5.69-5.89-5.46-4.37-1.29
Debt to Equity 1.552.352.523.142.82.855.041.081.191.13
Working Capital Days 131179173116132125115119127118
Cash Conversion Cycle 9314714185958174889486
Entity Percentage Holding
Promoters 61.14%
Institutions 0.01%
Non-Institutions 38.86%
Pledged *83.4683.4683.4683.4683.4283.4283.4283.4283.4283.42
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

Data is not available for this company.

Data is not available for this company

Established in 1962, Precot has symbolized Quality and Trust in the textile industry. With four decades of spinning experience and a diverse range of products that include cotton yarns, sewing threads, fabrics and garments; Precot is one of the few totally integrated textile players with a total turnover of 90 million US Dollars.

Precot Mills limited was renamed as Precot Meridian Limited with effect from September 28,2006. The company has also adopted a new logo. The name change is in

Established in 1962, Precot has symbolized Quality and Trust in the textile industry. With four decades of spinning experience and a diverse range of products that include cotton yarns, sewing threads, fabrics and garments; Precot is one of the few totally integrated textile players with a total turnover of 90 million US Dollars.

Precot Mills limited was renamed as Precot Meridian Limited with effect from September 28,2006. The company has also adopted a new logo. The name change is in tune with the transformation of the company from a pure spinning mill into an integrated textile player. The company apart from manufacturing cotton yarn and polyester sewing thread has also commenced manufacture of yarn dyed shirting fabrics. It proposed to venture into garment manufacture also in due course. 

The group has state of the art infrastructure facilities and skilled personnel to rise up to customer expectations.

The group has been accorded the status of ‘Export House’ by the Cotton Textile Export Promotion Council of India (TEXPROCIL). The countries we export our products to include Belgium, China, Italy, Japan, Malaysia, Portugal, South Korea, Turkey and U.K. among others.

Meridian Industries Limited has been merged with Precot Mills Limited with effect from 01st April,2006. Meridian Industries Ltd (MIL) which was incorporated in the year 1993 was promoted by Precot Mills Limited and. Around 70% of the shares of MIL were held by the shareholders of Precot. To have larger capacity in a single company,  instead of the capacities being spread over in two companies having common shareholders, the merger was proposed.

This has been approved by the High Court of Madras vide its order dated 30th August and 1st September, 2006. As per the scheme of Merger, the shareholders of MIL are entitled for one share of Precot for every two shares of MIL. Accordingly the share certificates of  Precot was despatched in Dec,06 to those shareholders who have surrendered the certificates of MIL.

Product range of the company includes:

Combed Cotton yarn

  • Knitting and Weaving : Ne. 20/1 to 50/1
  • P/C Blends and Modal/Cotton Blends
  • Doubled yarn on TFO: Ne.50/2,56/2,66/2,74/2, 80/2, 94/2, 100/2
  • Gassed yarn: Ne.40/2 to 100/2
  • Compact spun yarn for Weaving
  • Elitwist yarn for Weaving & Hosiery
  • OE yarn 2's - 10's

Polyester Sewing Thread on TFO

  • Bulk cones Raw White & Dyed
  • Mini cones 5,000 meters
  • Ne.30/2, 30/3, 40/2, 40/3 & 60/3

Achievements/ recognition

  • All the group companies are ISO 9001:2000 certified and are in the process of implementing TQM
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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