BSE: 503297 | NSE: | Textile - Spinning | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Super Syncotex (India) Ltd is a below average quality company.
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Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'03 | Mar'04 | Mar'05 | Mar'06 | Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -11.7% | -12.4% | -26.2% | -16% | -0.6% | -0.5% | -0.5% | -3.1% | 2.6% | -13.3% | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 39.4 | 26.1 | 15.5 | 4.2 | 0 | 0 | 0 | 0 | 0.3 | 0 | 0 |
| Sales YoY Gr. | - | -33.9% | -40.7% | -72.7% | -100% | NA | NA | NA | NA | -100% | - |
| Adj EPS ⓘ | -7.9 | -8 | -8.8 | -4.2 | -0.1 | -0.2 | -0.1 | -0.8 | 0 | -0.1 | -0.1 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | -1000% | - |
| BVPS (₹) ⓘ | -5.1 | -12.9 | -21.7 | -25.7 | -25.8 | -25.8 | -25.9 | 0.5 | 0.5 | 0.4 | -61.4 |
| Adj Net Profit ⓘ | -9.1 | -9.3 | -10.2 | -4.8 | -0.2 | -0.2 | -0.1 | -0.4 | 0 | -0.1 | 0 |
| Cash Flow from Ops. ⓘ | -5.3 | -4.2 | -1.5 | -0.3 | 10.8 | 1.7 | 0 | 0 | -0.1 | 0 | - |
| Debt/CF from Ops. ⓘ | -9.7 | -13.2 | -38.4 | -200.8 | 5.3 | 33.6 | 4139 | 0 | -2 | -4.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -100% | NA | NA | -100% | ||||
| Adj EPS ⓘ | NA | NA | NA | -1000% | ||||
| BVPSⓘ | NA | NA | NA | -19.2% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'03 | Mar'04 | Mar'05 | Mar'06 | Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1621.4 | 96.7 | 52.8 | 17.9 | 0.5 | 0.6 | 0.5 | 2.9 | 3.2 | -20 | 0.2 |
| Op. Profit Mgn % ⓘ | -3.4 | -5.4 | -45.4 | -62.5 | 0 | 0 | 0 | 0 | -13.5 | 0 | NAN |
| Net Profit Mgn % ⓘ | -23.1 | -35.5 | -65.9 | -113.7 | 0 | 0 | 0 | 0 | 3.3 | 0 | -INF |
| Debt to Equity ⓘ | -8.8 | -3.7 | -2.3 | -1.9 | -1.9 | -1.9 | -1.9 | 0.1 | 0.4 | 0.7 | - |
| Working Cap Days ⓘ | 120 | 149 | 161 | 267 | 0 | 0 | 0 | 0 | 639 | 0 | 0 |
| Cash Conv. Cycle ⓘ | 58 | 93 | 82 | 23 | 0 | 0 | 0 | 0 | -316 | 0 | 0 |
Return on Equity has increased versus last 3 years average to 0.50%
Sales growth has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -0.1 | - |
| TTM Sales (₹ Cr.) | 0 | - |
| BVPS (₹.) ⓘ | -61.4 | - |
| Reserves (₹ Cr.) ⓘ | -41 | - |
| P/BV ⓘ | -0.02 | - |
| PE ⓘ | 0.00 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 1.44 / 1.44 |
| All Time Low / High (₹) | 0.42 / 72.50 |
| Market Cap (₹ Cr.) | 0.8 |
| Equity (₹ Cr.) | 5.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 31 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'03 | Mar'04 | Mar'05 | Mar'06 | Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 39.41 | 26.07 | 15.47 | 4.22 | 0 | 0 | 0 | 0 | 0.26 | 0 |
| Operating Expenses ⓘ | 40.77 | 27.49 | 22.58 | 6.93 | 0.19 | 0.17 | 0.24 | 0.58 | 0.29 | 0.05 |
| Manufacturing Costs | 9.58 | 9.77 | 7.84 | 2.82 | 0 | 0 | 0 | 0 | 0 | 0 |
| Material Costs | 21.19 | 8.59 | 2.86 | 0.21 | 0 | 0 | 0 | 0 | 0.25 | 0 |
| Employee Cost | 7.22 | 6.72 | 6.06 | 1.70 | 0.01 | 0 | 0.03 | 0 | 0 | 0 |
| Other Costs ⓘ | 2.78 | 2.41 | 5.82 | 2.20 | 0.18 | 0.17 | 0.21 | 0.58 | 0.04 | 0.05 |
| Operating Profit ⓘ | -1.36 | -1.41 | -7.11 | -2.70 | -0.19 | -0.17 | -0.24 | -0.58 | -0.03 | -0.05 |
| Operating Profit Margin (%) | -3.4% | -5.4% | -46.0% | -64.0% | - | - | - | - | -13.5% | - |
| Other Income ⓘ | 0.19 | 0.14 | 0.12 | 0.45 | 0.06 | 0.06 | 0.10 | 0.15 | 0.05 | 0 |
| Interest ⓘ | 5.30 | 5.46 | 0.79 | 0.04 | 0 | 0.07 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 2.47 | 2.48 | 2.47 | 2.45 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0.01 | 0 |
| Profit Before Tax ⓘ | -8.94 | -9.22 | -10.25 | -4.73 | -0.14 | -0.18 | -0.14 | -0.43 | 0 | -0.05 |
| Tax ⓘ | 0.17 | 0.01 | 0 | 0.02 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -9.11 | -9.22 | -10.25 | -4.75 | -0.14 | -0.18 | -0.14 | -0.43 | 0 | -0.05 |
| PAT Margin (%) | -23.1% | -35.4% | -66.3% | -112.0% | - | - | - | - | 0.4% | - |
| Adjusted EPS (₹) | -7.9 | -8.0 | -8.9 | -4.1 | -0.1 | -0.2 | -0.1 | -0.8 | 0.0 | -0.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'03 | Mar'04 | Mar'05 | Mar'06 | Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | -4.96 | -14.19 | -24.44 | -29.19 | -29.33 | -29.51 | -29.65 | 0.27 | 0.27 | 0.22 |
| Share Capital ⓘ | 11.55 | 11.55 | 11.55 | 11.55 | 11.55 | 11.55 | 11.55 | 5.77 | 5.77 | 5.77 |
| Reserves ⓘ | -16.51 | -25.73 | -35.99 | -40.74 | -40.88 | -41.06 | -41.20 | -5.50 | -5.50 | -5.55 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 51.50 | 55.52 | 56.73 | 56.72 | 57.07 | 57.41 | 57.53 | 0.04 | 0.10 | 0.15 |
| Long Term Debt | 51.50 | 55.52 | 56.73 | 56.72 | 57.07 | 57.41 | 57.53 | 0.04 | 0.10 | 0.15 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 3.29 | 2.50 | 1.82 | 1.62 | 1.59 | 1.54 | 1.53 | 0.30 | 0.52 | 0.52 |
| Others Liabilities ⓘ | 1.24 | 2.50 | 2.05 | 2.66 | 2.33 | 2.05 | 2.03 | 0.16 | 0.15 | 0.15 |
| Total Liabilities ⓘ | 51.07 | 46.33 | 36.15 | 31.82 | 31.66 | 31.49 | 31.44 | 0.77 | 1.05 | 1.05 |
Fixed Assets | ||||||||||
| Gross Block | 58.12 | 58.19 | 58.15 | 57.75 | 57.75 | 57.75 | 57.75 | 0.28 | 0.28 | 0.28 |
| Accumulated Depreciation | 22.73 | 25.19 | 27.61 | 29.85 | 29.85 | 29.85 | 29.85 | 0 | 0 | 0 |
| Net Fixed Assetsⓘ | 35.39 | 33 | 30.54 | 27.90 | 27.90 | 27.90 | 27.90 | 0.28 | 0.27 | 0.27 |
| CWIP ⓘ | 0.50 | 0.44 | 0.44 | 0.44 | 0.44 | 0.44 | 0.44 | 0.17 | 0.18 | 0.18 |
| Investmentsⓘ | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 6.16 | 3.84 | 1.08 | 0.70 | 0.70 | 0.70 | 0.70 | 0.07 | 0.07 | 0.07 |
| Trade Receivables | 6.33 | 6.59 | 1.24 | 0.05 | 0.02 | 0 | 0 | 0 | 0.26 | 0.26 |
| Cash Equivalents | 0.28 | 0.14 | 0.05 | 0.04 | 0.01 | 0.01 | 0.03 | 0.01 | 0.01 | 0.03 |
| Others Assetsⓘ | 2.38 | 2.31 | 2.79 | 2.68 | 2.59 | 2.44 | 2.38 | 0.25 | 0.26 | 0.24 |
| Total Assets ⓘ | 51.07 | 46.33 | 36.15 | 31.82 | 31.66 | 31.49 | 31.44 | 0.77 | 1.05 | 1.05 |
| PARTICULARS | Mar'02 | Mar'03 | Mar'04 | Mar'05 | Mar'06 | Mar'07 | Mar'08 | Mar'09 | Mar'11 | Mar'12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -3.91 | -5.29 | -4.22 | -1.48 | -0.28 | 10.76 | 1.71 | 0.01 | -0.05 | -0.03 |
| PBT ⓘ | -14.01 | -8.95 | -9.22 | -10.25 | -4.73 | -0.14 | -0.18 | -0.14 | 0.01 | -0.05 |
| Adjustment ⓘ | 7.06 | 7.66 | 8.02 | 3.31 | 2.48 | 0.11 | 0.17 | 0.10 | 0 | 0 |
| Changes in Working Capital ⓘ | 8.16 | 1.19 | 2.36 | 6.2 | 1.98 | 10.8 | 1.78 | 0.05 | -0.06 | 0.02 |
| Tax Paid ⓘ | -0.22 | -0.17 | -0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | -12.82 | -1.13 | -0.02 | 0.08 | 0.27 | 0 | 0 | 0 | -0.01 | 0 |
| Capex | -11.78 | -1.15 | -0.03 | 0.08 | 0.24 | 0 | 0 | 0 | -0.01 | 0 |
| Net Investments | 0 | 0.03 | 0.01 | 0 | 0.03 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -1.04 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 16.69 | 6.22 | 4.10 | 1.30 | 0 | -10.79 | -1.70 | 0 | 0.06 | 0.05 |
| Net Proceeds from Shares ⓘ | 4.45 | 0.30 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 12.24 | 5.92 | 4.10 | 1.30 | 0 | -10.79 | -1.70 | 0 | 0.06 | 0.05 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | -0.04 | -0.20 | -0.14 | -0.10 | -0.01 | -0.04 | 0.01 | 0.01 | 0 | 0.01 |
| PARTICULARS | Mar'03 | Mar'04 | Mar'05 | Mar'06 | Mar'07 | Mar'08 | Mar'09 | Mar'10 | Mar'11 | Mar'12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0.36 | -20.01 |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -3.09 | 0.39 | -13.22 |
| Asset Turnover Ratio | 0.9 | 0.65 | 0.45 | 0.15 | 0 | 0 | 0 | 0 | 0.28 | 0 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 51 | 74 | 76 | 45 | 0 | 0 | 0 | 0 | 183 | 0 |
| Inventory Days | 57 | 58 | 48 | 63 | 0 | 0 | 0 | 0 | 99 | 0 |
| Payable Days | 97 | 123 | 276 | 3,021 | 0 | 0 | 0 | 0 | 601 | 0 |
Super Syncotex (India) was incorporated in the year 1981. The company is a spinning and weaving industry of 30,000 and 100 looms.
The company has two industrial units: namely Village Khari-Ka-Lamba (Distt. Bhifwara) (spinning factory) engaged in the manufacturing of yarn. The unit is temporarily inoperative since November 2005 and at Jaipur. The unit is under operationalization and proposes to start Yarn Doubling' activity. Due to accumulated losses of the company, the net worth of the company has become negative and so the company was declared sick.
The scheme of arrangement for demerger was framed on June 23, 2009 where the Board for Industrial & Financial Reconstruction (BIFR) has approved the demerger of Khari- ka Lamba unit of the company and accordingly the said unit shall stand merged into Suzuki Textiles Ltd (STL). In consideration of demerger of the said unit STL shall issue shares to the shareholders of the company in the ratio of one equity share of STL against 50 equity shares of the company after reduction of 50% share capital of the company. In other words STL shall issue 1,15,463 equity shares of Rs 10 each.
Products Offered:
1) Yellow duster made of 100% cotton flannel of different sizes and weight.
2) Semi-precious stone jewellery made in silver.
3) Synthetic and cotton yarn.
4) Woven fabrics and knitted fabrics
5) Trousers and shirts & knitted T shirts.
6) Surgical cotton.
7) Table cloth, table mat, napkin, cushion cover, Pillow covers and aprons.
8) Reflective jacket, safety vest and boiler suits.
The company was registered as a Sick Industrial Company under Section 15 (1) of SICA by the BIFR on January 3, 2006. It has defaulted to the financial institutions and banks against both principal and interest on the term loans. The company approached the financial institutions and banks for One Time Settlement (OTS) of outstanding loans and interest accrued.
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