Baroda Rayon Corporation Ltd - Stock Valuation and Financial Performance

BSE: 500270 | NSE: BARODARAYN | Textile | Small Cap

Baroda Rayon Share Price

208.30 25.00 13.64%
as on 12-Jul'24 16:01

DeciZen - make an informed investing decision on Baroda Rayon

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Baroda Rayon Corporation stock performance -

mw4me loader
P/E Ratio (SA):
13.95
Market Cap:
477.2 Cr.
52-wk low:
150
52-wk high:
249.3

Is Baroda Rayon Corporation Ltd an attractive stock to invest in?

1. Is Baroda Rayon Corporation Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Baroda Rayon Corporation Ltd is a below average quality company.

2. Is Baroda Rayon Corporation Ltd undervalued or overvalued?

The key valuation ratios of Baroda Rayon Corporation Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Baroda Rayon Corporation Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Baroda Rayon Corporation Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Baroda Rayon:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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.
Baroda Rayon Corporation Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -2.3%9.5%4.4%4.1%877.8%26.2%-45.5%234.5%321.1%57.5%-
Value Creation
Index
NANANANANANA-4.3NA21.93.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 00000000058.477
Sales YoY Gr.-NANANANANANANANANA-
Adj EPS -1.5-1.5-1.8-0.9-5.9-2.61.6-53.7147.3106.314.9
YoY Gr.-NANANANANANA-3476.1%NA-27.8%-
BVPS (₹) -99.9-101.5-103.3-86.6-103.9-106.5-98.6-152.610.9130144.9
Adj Net
Profit
-3.3-3.5-4.2-2-13.4-5.93.6-12333724434
Cash Flow from Ops. -12777.4-6.1-133-3-9.1-3.8-16.8-8539-
Debt/CF from Ops. -1.20.9-12.9-1.6-70.7-24.6-59.6-14.4-3.56.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANANANA
Adj EPS NANA305.9%-27.8%
BVPSNANANA1091.1%
Share Price - - - 27.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
2.52.42.51.16.32.4-1.642.7-207.9150.910.9
Op. Profit
Mgn %
000000000406.512.1
Net Profit
Mgn %
000000000416.744.6
Debt to
Equity
-0.7-0.3-0.3-1.1-0.9-0.9-1-0.711.80.80.5
Working Cap
Days
0000000003,2174,168
Cash Conv.
Cycle
0000000003,0153,273

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 10.90%

Net Profit is growing at healthy rate in last 3 years 305.85%

Debt to equity has declined versus last 3 years average to 0.82

Sales growth is good in last 4 quarters at 58.11%

Sales growth has been subdued in last 3 years 0.00%

Latest Financials - Baroda Rayon Corporation Ltd.

Standalone Consolidated
TTM EPS (₹) 14.9 -
TTM Sales (₹ Cr.) 76.8 -
BVPS (₹.) 144.9 -
Reserves (₹ Cr.) 309 -
P/BV 1.44 -
PE 13.95 -
From the Market
52 Week Low / High (₹) 150.00 / 249.30
All Time Low / High (₹) 2.05 / 501.30
Market Cap (₹ Cr.) 477
Equity (₹ Cr.) 22.9
Face Value (₹) 10
Industry PE 29.4

Management X-Ray of Baroda Rayon:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Baroda Rayon

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales00000000058
Operating Expenses 13062262122-327-179
Manufacturing Costs0000000000
Material Costs00000000-333-198
Employee Cost 1004004012010
Other Costs 30222122518
Operating Profit -130-6-2-2-6-2-122327238
Operating Profit Margin (%) ---------406.5%
Other Income 1905000034125
Interest 6001100167
Depreciation 3330000000
Exceptional Items 0003-38021-41217
Profit Before Tax -3-4-40-40-618-124375273
Tax 0000000000
Profit After Tax -3-4-40-40-618-124375273
PAT Margin (%) ---------466.7%
Adjusted EPS (₹)-1.5-1.5-1.8-0.1-17.3-2.67.9-54.0163.5119.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund -138-153-176-191-238-244-226-35025298
Share Capital 23232323232323232323
Reserves -161-175-199-214-261-267-249-3732275
Minority Interest0000000000
Debt1497178211215224229242264216
Long Term Debt1235864175179187190202225180
Short Term Debt25131436363738403936
Trade Payables4444444443
Others Liabilities 15623424911411210885206122126
Total Liabilities 170157155139939292102415643

Fixed Assets

Gross Block525525525526526526526874949
Accumulated Depreciation367381403418463463463464646
Net Fixed Assets1581451221086363634123
CWIP 0000000000
Investments 6666666677
Inventories00000000371575
Trade Receivables11100000019
Cash Equivalents 0000000018
Others Assets552524232322553332
Total Assets 170157155139939292102415643

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -12777-6-133-3-9-4-17-8539
PBT -22-4-4-3-2-618-124375273
Adjustment 93311002-34-18
Changes in Working Capital -11478-5-131-1-4-22105-425-215
Tax Paid 0000000000
Cash Flow From Investing Activity 000000034025
Capex 000000034125
Net Investments 00000000-10
Others 0000000000
Cash Flow From Financing Activity 127-7761333941346-57
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 123-6561114841223-45
Interest Paid -600-1-100-1-6-7
Dividend Paid 0000000000
Others 9-12122021229-5
Net Cash Flow 0000000017
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)N/AN/AN/AN/AN/AN/AN/AN/A0169.03
ROCE (%)N/AN/AN/AN/AN/AN/AN/AN/A357.6664.78
Asset Turnover Ratio0000000000.11
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/A-0.22N/A-0.230.14
Working Capital Days
Receivable Days00000000058
Inventory Days0000000002,955
Payable Days00000000-4-6

Baroda Rayon Corporation Ltd Stock News

Baroda Rayon Corporation Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Baroda Rayon on 12-Jul-2024 16:01 is ₹208.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Jul-2024 16:01 the market cap of Baroda Rayon stood at ₹477.2.
The latest P/E ratio of Baroda Rayon as of 12-Jul-2024 16:01 is 13.95.
The latest P/B ratio of Baroda Rayon as of 12-Jul-2024 16:01 is 1.44.
The 52-week high of Baroda Rayon is ₹249.3 and the 52-week low is ₹150.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Baroda Rayon is ₹76.83 ( Cr.) .

About Baroda Rayon Corporation Ltd

Baroda Rayon Corporation  incorporated on May 30, 1958 is engaged in the manufacturer of synthetic yarn and other products. It was

The company manufactures and markets polyester filament yarn, viscose filament yarn (VFY), sulphuric acid, carbon-di-sulphide, anhydrous sodium sulphate, nylon yarn, mono ethylene glycol, nylon tire cord, sodium suphide and other products. It uses the trade name SNIALON for its nylon yarn. The company has it three manufacturing plants for nylon, VFY, and CS2 in Fatehnagar, Surat with an overall licensed capacity for nylon filament yarn, polyester filament and nylon tyre cord of 25,000 tons per annum. The company has been suspended from BSE on account of non-compliance with listing agreement clauses.

The registered office of the company is located at Fatehnagar, P O Bawdarayon, Surat-394220, Gujarat.

Milestones

  • 1958 - The company was incorporated on 30th May, at Mumbai.  It manufactures viscose filament rayon yarn, sulphuric acid, carbon-di-sulphide, anhydrous sodium sulphate, nylon yarn, etc. The company uses the trade name SNIALON for its nylon yarn.
  • 1973 - Consequent upon the merger of Gujarat Polyamides Ltd., the company acquired their nylon yarn plant along with the collaboration agreement with Snia Viscose SPA of Italy.
  • 1973 - In April, a letter of intent was received for the manufacture of 2,000 tonnes per annum of nylon tyre cord.  The company has collaboration agreement with Unitika of Japan for the Trading.
  • 1973 - Gujarat Polyamides Ltd., was amalgamated with the company with effect from 1st January.
  • 1978 - The polycondensation plant for conversion of DMT into polyester chips was commissioned during the last quarter of the year.
  • 1979 - The company received a letter of intent from Govt. permitting it to manufacture 1,700 tonnes per year of nylon tyre fabric, against the original sanction of 1,000 tonnes per annum.
  • 1979 - Government approved the company's application under Technical Development Fund Scheme for the recovery of caprolactum from fresh water.  For this purpose, a collaboration agreement was entered into with M/s. Italviscosa Eastern Trading SPA, Italy.
  • 1980 - As part of its diversification plan, the company made an application for the manufacture of 10,000 tonnes per annum of synthetic detergent.
  • 1981 - The nylon tyre cord plant was commissioned in early October. The company took steps to increase the conversion capacity of nylon tyre yarn into nylon tyre fabric from 1,000 tonnes to 1,700 tonnes per annum.
  • 1981 - The company made a beginning in the supply of technical know-how and basic engineering for setting up a plant with a capacity of 13 tonnes per day of carbon-di-sulphide.
  • 1982 - The licensed capacity of polyester filament yarn was enhanced from 576 tonnes per annum on 140 denier basis to 1,777 tonnes per annum without any linkage with deniers.
  • 1982 - The company also undertook to set up a plant to recover mono ethylene glycol. 1982 - A letter of intent was received to increase the nylon filament yarn capacity from 2,436 tonnes to 6,000 tonnes per annum.
  • 1982 - An application was made for a letter of intent to set up a portland cement project in the Rewa District of Madhya Pradesh with annual capacity of 10 lakh tonnes.
  • 1983 - The equipment and machinery for the nylon tyre cord fabric section's expansion was commissioned increasing the capacity to 1,700 tonnes per annum.  The Caprolactum recovery plant was also put into operation.
  • 1983 - Industrial licence was received during the year to increase the nylon tyre cord fabric capacity from 1,700 tonnes to 3,400 tonnes per annum.  The company received permission to manufacture oleum 24% upto 10,800 tonnes per annum within the overall licensed capacity of 21,600 tonnes per annum of sulphuric acid.
  • 1984 - The company received a letter of intent to set up a newsprint plant with an annual capacity of 50,000 tonnes in the Ratnagiri district of Maharashtra State.
  • 1984 - The company proposed to set up a joint venture company in Thailand with an object to set up a plant for the manufacture of 9,000 tonnes per annum of nylon tyre cord.
  • 1985 - Industrial licence was received for the manufacture of polyester filament yarn allowing/permitting the company to raise its existing industrial licence capacity from 1,777 to 3,500 tonnes per annum.
  • 1985 - The company also proposed to double its capacity of caprolactum recovery plant for which necessary soft loans were sanctioned by the financial institutions.
  • 1986 - The Mono Ethylene Glycol recovery plant (MEG) was commissioned in October.
  • 1987 - Government approved the company's application under the Board Banding Scheme to cover nylon filament yarn, polyester filament yarn and nylon tyre cord within the overall capacity of 25,000 tonnes per annum.
  • 1987 - The contract for supply of foreign equipment was executed with Samsung Company Limited of Korea.
  • 1990 - The working was adversely affected mainly due to severe excise duty imports, political disturbances and increase in the cost of inputs.
  • 1991 - The additional boiler was commissioned in March.  As a measure of backward integration, the company proposed to install polyester poly-condensation plant to meet the requirements of polyester chips with a capacity of 45 TPD.
  • 1992 - The company proposed to install two additional spinning machines to raise the capacity of POY plant to 15,000 tpa.
  • 1993 - The company maintained high production levels in Rayon, Nylon and POY plant.  However, the capacity of nylon tyre cord plant was under utilized in view of the demand constraint due to availability of imported tyre cord at lower rates.
  • 1993 - The company proposed to embark upon major expansion programme of polyester spinning and poly condensation capacity of 25,000 tonnes per annum.
  • 1993 - The Expansion/Modernization of rayon plant was also under consideration.  Also proposed to install latest state of the art power generating system to increase in-house capacity upto 34MW.
  • 1994 - Performance of the company affected due to high input cost coupled with the continuous rise in the cost of power and labour without corresponding rise in the selling prices.
  • 1994 - The Synthetic filament yarn industry was faced with certain major problem like the uncertainty of supplies of basic and intermediate raw materials and liberal imports of yarn at cheaper rates resulted in un-remunerative prices of yarn.
  • 1994 - 7,193 No. of equity shares issued on conversion of 16% debentures.
  • 1995 - The margin in Rayon division were affected due to increase in prices of raw materials.  The performance of Nylon division was adversely affected due to rising raw material cost and lower sales realization.  In POY division, the prices were unremunerative.
  • 1995 - The company had planned projects for expansion of POY capacity to 15,000 tonnes per annum, backward integration by setting up poly-condensation plant to produce polyester chips and also to put up a solid waste recovery plant.
  • 1995 - The company proposed to issue right shares at a price of Rs 150 per share with a price band of 20% per share in ratio of 1:1 to the existing shareholders.

 

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