Binny Ltd Stock Analysis

BSE: 514215 | NSE: | Textile | Small Cap

BSE Share Price Jan 17, 13:25
196.75 17.85 (9.98%)

DeciZen - Make an Informed Decision on Binny

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

1. Quality

2. Valuation

Fair
P/E P/S EV/EBITDA

3. Price Trend

Semi Strong

10 Year X-Ray:

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

Value Creation Index Colour Code Guide
Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 0.7%1.2%-6.1%1.5%-2.1%79.6%3.8%2.6%1.4%6.4%-
Value Creation Index -1.0-0.9-1.4-0.9-1.24.7-0.7-0.8-0.9-0.5-

Growth Parameters

Growth Parameters Colour Code Guide
Sales 8.57.99.27.20.145545.90.440.829.431
YoY Gr. Rt. %--7.1%16.4%-21.7%-99.3%9,10,540%-89.9%-99.2%11,225%-28%-
Adj EPS 1.11.8-14.80.9-3.9125.23-6.7-898.6
YoY Gr. Rt. %-69.2%-914.9%NA-543.2%NA-97.6%-326.9%NANA-
BVPS (₹) 54.956.929.730.626.7103.6122.7126118.6129.1130.7
Adj Net Profit 2.44.1-32.92-8.72806.6-15-17.820.219
Cash Flow from Ops. 0.8-3.357.9-1011.39.6-12931.528.715.7-
Debt/CF from Ops. 50.3-12.50-21.822.3-2.810.511.817-

CAGR

CAGR Colour Code Guide
9 Years 5 Years 3 Years 1 Years
Sales 14.7%257.9%-13.9%-28%
Adj EPS 26.8%NA44.9%NA
BVPS 1037.11.78.9
Share Price 17.8% 19% 9% 123.6%

Key Financial Parameters

Performance Ratio Colour Code Guide
Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 0.81.4-12.50.8-3.8110.42.2-4.6-5.56.36.6
Op. Profit Mgn % 38.956.116.460.8-11877.593.289.9-1174.883.465.463.5
Net Profit Mgn % 2851.1-356.627.2-19231.861.414.5-4137.3-43.768.761.7
Debt to Equity 0.20.200.10.10.91.31.21.30.9-
Working Cap Days 1,0451,32387813,37450,42,8676478,00311,19,7339,99214,2940
Cash Conv. Cycle -268-407-2252512,04,4881942,2883,00,7682,0713,4140

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 6.60%

Net Profit is growing at healthy rate in last 3 years 44.92%

Debt to equity has declined versus last 3 years average to 0.92

Sales growth is good in last 4 quarters at 1891.55%

Sales growth has been subdued in last 3 years -13.85%

Latest Financials - Binny Ltd.

Standalone Consolidated
TTM EPS (₹) 8.6 1.8
TTM Sales (₹ Cr.) 31 7.9
BVPS (₹.) 130.7 0
Reserves (₹ Cr.) 280 85
P/BV 1.37 0.00
PE 20.89 102.57
From the Market
52 Week Low / High (₹) 73.00 / 320.00
All Time Low / High (₹) 1.00 / 374.80
Market Cap (₹ Cr.) 399
Equity (₹ Cr.) 11.2
Face Value (₹) 5
Industry PE 15.4

Management X-Ray:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *68.2968.2968.2968.2968.2968.2968.290.000.0025.41
* Pledged shares as % of Promoter's holding (%)

Event Update

Analyst's Notes

News

About Binny Ltd

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.

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