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Binny Ltd. Stock Analysis

Small Cap
Evaluated by 185 users | BSE: 514215 | NSE: |
Textile
Binny was established in 1969 to take over by a Scheme of Amalgamation of Buckingham & Carnatic Co. Ltd. Bangalore Woollen Cotton & Silk Mills Co Ltd. Binny & Co Ltd. Ganges Transport & Trading Co. Ltd. and Madura Co. Private Ltd. with effect from 1st November.Binny was revived...

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 1.27%0.73%1.23%-6.09%1.51%-2.1%79.57%3.82%2.59%1.38%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 12.38.57.99.27.20.145545.90.440.8
Y-o-Y Gr. Rt.--30.8%-7.1%16.4%-21.7%-99.3%910540%-89.9%-99.2%11225%
Adjusted EPS (Rs.) 1.851.071.81-14.750.88-3.9125.232.97-6.74-7.98
Y-o-Y Gr. Rt.--42.2%69.2%-914.9%NA-543.2%NA-97.6%-326.9%NA
Book Value per Share (Rs.) 53.8754.8956.8629.7230.626.69103.61122.68125.99118.56
Adjusted Net Profit 4.12.44.1-32.92-8.72806.6-15-17.8
Net Op. Cash Flow (Rs. Cr.) -2.50.8-3.357.9-1011.39.6-12931.528.7
Debt to Cash Flow from Ops -15.7650.3-12.520-2.041.8122.32-2.7910.5211.81
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.
Binny Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 14.2%41.3%-55.3%11225%
Adjusted EPS -217.6%-255.4%-139.9%NA
Book Value per Share 9.231.14.6-5.9
Share Price 12.2% 0.9% -24.2% 30.7%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 1.440.831.39-12.530.84-3.78110.432.2-4.61-5.54
Operating Profit Margin (%) 41.4238.8856.1416.4360.84-11877.4893.1989.94-1174.8483.38
Net Profit Margin (%) 33.432851.06-356.6227.15-19231.7961.3914.45-4137.3-43.7
Debt to Equity 0.170.160.1700.110.120.931.311.181.28
Working Capital Days 6551,0451,32387813,37450,42,8676478,00311,19,7339,992
Cash Conversion Cycle -2,090-268-407-2252512,04,4881942,2883,00,7682,071
Entity Percentage Holding
Promoters 74.69%
Institutions 3.78%
Non-Institutions 21.54%
Pledged *68.2968.2968.2968.2968.2968.2968.2968.2968.2968.29
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

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

Binny Ltd. earnings have declined by -255.4%, whereas share price has appreciated 0.9% 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 Binny Ltd. share prices over the last 10 years. Here is what we found out:

Binny Ltd. share price has appreciated -7.1% annually over the past ten years.

Binny was established in 1969 to take over by a Scheme of Amalgamation of Buckingham & Carnatic Co. Ltd. Bangalore Woollen Cotton & Silk Mills Co Ltd. Binny & Co Ltd. Ganges Transport & Trading Co. Ltd. and Madura Co. Private Ltd. with effect from 1st November.

Binny was revived through a BIFR package. The company was being jointly managed by the Udayar group and Dynamix group.They decided in August 1996 to split the company into two companies :Binny and Binny (Karnataka).

Binny was established in 1969 to take over by a Scheme of Amalgamation of Buckingham & Carnatic Co. Ltd. Bangalore Woollen Cotton & Silk Mills Co Ltd. Binny & Co Ltd. Ganges Transport & Trading Co. Ltd. and Madura Co. Private Ltd. with effect from 1st November.

Binny was revived through a BIFR package. The company was being jointly managed by the Udayar group and Dynamix group.They decided in August 1996 to split the company into two companies :Binny and Binny (Karnataka).

The main reason for the split was to have operational convenience, particularly raising working capitals beside plan for new investment

The Appellate Authority for Industrial and Financial Reconstruction has upheld an order passed by the Board for Industrial and Financial Reconstruction rejecting the Binny Ltd.'s proposal to sell 1,260 grounds of the company at Perambur, Chennai, for Rs. 60 crores.

In its order dated February 23, the BIFR held that the offer of Rs. 60 crores was 50 per cent of the earlier valuation done in 1999 at Rs.119 crores. It therefore rejected the proposal for sale of the lands for Rs. 60 crores and reconstituted an Asset Sale Committee for sale of the land.

The Binny Ltd. and another challenged the order before the Appellate Authority contending that it had entered into settlement with the charge holders of the land and also with about 95 per cent of the workers, who were agreeable for this sale of land for Rs. 60 crores and a rehabilitation scheme would be possible if this sale was allowed to be made.

Business area of the company:

The Company is engaged in the business of marketing textiles goods, marketing engineering and other products, shipping related business, operating cold storage at Cochin, travel agency business approved by IATA and TAI, real estate and Container Freight Station.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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