X

Evinix Industries Ltd. Stock Analysis

Small Cap
Evaluated by 48 users | BSE: 532818 | NSE: EVINIX |
Textile
Evinix Accessories Limited incorporated on May 1, 1996 as a private limited company, the company came up with a public issue of 35, 00, 000 shares in February 2007.Evinix Accessories Ltd, a leading manufacturer and merchandiser of fashion accessories and garments, today announced that it has...

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'02Mar'03Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11
Return on Capital Employed 00-36.67%61.93%45.82%15.48%17.36%8.14%9.03%5.81%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 005.428.646.968.3119122160207
Y-o-Y Gr. Rt.-NANA430.6%64.1%45.6%74.3%2.3%31.7%29%
Adjusted EPS (Rs.) 00-1.482.270.820.61.340.50.680.25
Y-o-Y Gr. Rt.-NANANA-63.9%-26.8%123.3%-62.7%36%-63.2%
Book Value per Share (Rs.) 00-0.751.532.255.646.536.717.57.71
Adjusted Net Profit 00-2.43.75.96.414.45.37.32.6
Net Op. Cash Flow (Rs. Cr.) 00-2.11.43.7-11.2-1.916.36.40
Debt to Cash Flow from Ops 00-3.124.150.8-0.95-18.632.959.410
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.
Evinix Industries Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales NA34.5%20.2%29%
Adjusted EPS NA-21.2%-42.9%-63.2%
Book Value per Share 027.95.72.8
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'02Mar'03Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10Mar'11
Return on Equity (%) 00204.09554.4662.9515.8720.236.648.462.91
Operating Profit Margin (%) 00-41.4315.1816.6114.6917.499.0510.57.05
Net Profit Margin (%) 00-45.2713.0712.599.3912.074.374.561.27
Debt to Equity 00-5.262.250.180.180.510.670.750.99
Working Capital Days 00087100158204283248252
Cash Conversion Cycle 0004740104155214190189
Entity Percentage Holding
Promoters 32.58%
Institutions 5.64%
Non-Institutions 61.77%
Pledged *13.0413.0413.0413.0435.8436.0036.1636.3536.3536.35
* 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

Evinix Accessories Limited incorporated on May 1, 1996 as a private limited company, the company came up with a public issue of 35, 00, 000 shares in February 2007.

Evinix Accessories Ltd, a leading manufacturer and merchandiser of fashion accessories and garments, today announced that it has launched its store in Surat, under the brand name CUT (an acronym for Comfortable, Urban, Trendy) at Ghod Dhod Road. CUT houses a premium collection of 61 international brands
Evinix Accessories Limited incorporated on May 1, 1996 as a private limited company, the company came up with a public issue of 35, 00, 000 shares in February 2007.

Evinix Accessories Ltd, a leading manufacturer and merchandiser of fashion accessories and garments, today announced that it has launched its store in Surat, under the brand name CUT (an acronym for Comfortable, Urban, Trendy) at Ghod Dhod Road. CUT houses a premium collection of 61 international brands and is one of the largest youth style destinations in the country.

From Evinix Xsesryz to Evinix Accessories– it has been an eventful and exciting journey. A journey of many milestones and of a vision that cuts across borders.

A journey that began in 1996 with the manufacture of headgears, baseball caps and high altitude jackets, using cotton textile and leather, mainly for exports.A journey that has pinnacled with the launch of the company’s third division, Rapid Retail, after its continued triumph in the two fast-growing segments of Accessories and Apparel.

Vending to international brands retailers, Evinix today stands apart in the world of fashion as a brand that spells quality, design and innovation across the world. Its value chain extends across the entire spectrum of client requirement – from adapting the buyer request and translating it into samples and eventually, manufacturing and exporting the merchandise, thereby encapsulating the entire value chain from Design to Delivery (D2D)

And its foray into the retail market marks the beginning of another exhilarating venture. With this foray, the company is now all set to cut into a new phase of growth, to create style as a domain. It is all set to make niche offerings that are cut to make the ideal style statement, and set trends for the future.With the youth as its new icon, Evinix today is in a new mode of evolution. It’s an evolution that will cut across the boundaries of fashion and class to create a new breed of the style-conscious youth. 
Different divisions of the company:
Accessories –The Accessories on offer at Evinix include an assortment of caps, hats, sport-bags, ladies fashion bags, leather belts, scarves, stoles and shawls. 
Evinix caters to the accessories requirements of men, women and children. 
Apparel –The apparel category constitutes men and women’s shirts, trousers, skirts and tops, kidswear and nightwear. Organic cotton wear for expecting mothers and infants is an additional strength. The company’s fashion apparel range includes dresses, inner wear & T-shirts for kids and tops, T-shirts & skirts and sleepwear for men, women and kids.
Rapid Retail –The principle of Rapid Retail suggests that every merchandise has a limited shelf life at CUT stores. The Rapid Retail business concept embraces the e.t.o.a.d concept i.e. the exact time of awaited departure when the product will move out to the next best price bracket.

Product range of the company includes:

Evinix Accessories Ltd. is in the business of designing and manufacturing fashion accessories and garments for exports as well as domestic markets It also undertakes bulk trading of processed and greig fabric.

Scarves / Wraps 
Bags
Handbags (Ladies) 
Leisure Bags (General purpose bags including sports bags) 

Headgear
Hats (mainly for kids and babies) 
Caps (mostly adult and sports caps) 

Wallets
Textile wallets 
Leather wallets 
Belts
Textile belts 
Leather belts

Lifestyle Accessories
Photo frames, Coasters, Book Cover, Book Marks etc.

Organic Cottonwear (Manufacturing done at a certified factory)

Knitted (Including Nightwear)
Kids’ Wear (including Infants & Toddlers)
Maternity wear (Organic & non-organic)

Knitte
Shirts & T-Shirts
Mix & Match schemes

Milestones :  

 1996-97
Commenced operations with imported specialized machinery for baseball caps manufacturing and embroidery. 
Commences export of baseball caps to USA. 

1997-98
Started manufacture and supply of sports bags. 
Commenced export of Sports Bags to USA. 
Started export of caps to Middle East. 

1998-99
Set up a new factory in Faridabad.

2000-01 
Converted existing facility at Faridabad into 100% EOU. 
Expanded Faridabad unit to manufacture cotton canvas bags. 

2001-02 
Commenced the manufacture & export of accessories for babies & kids. 
Awarded Silver Trophy, the second highest award in the 100% EOU/EPZ- Made-ups category, for determined marketing and promotional efforts that led to cotton made-ups exports of over Rs. 5 crores (for outstanding export performance in the year 2001-02) by TEXPROCIL, The Cotton Textiles Export Promotion Council, India. 

2002-03
Commenced export of Leather Belts. 

2003-04
Commenced production and exports of Leather Handbags and Wallets. 

2005-06 
Creation and Set-up of Design Studio 
Entered into a Trademark Licensee agreement with Gini & Jony. 
Merger of Evinix Consolidated, a partnership firm of promoters, into the company. Received the prestigious vendor approval status from Adidas as manufacturer of Apparel and Accessories. 

2006-07 
Acquired and started world class apparel manufacturing unit dedicated to baby & women’s fashion wear at Noida Special Economic Zone near New Delhi. 
Successfully listed 3,500,000 shares on the Bombay Stock Exchange and National Stock Exchange, the two largest bourses of the country.  

Achievements/ recognition:

  • Registration by the Fair Trade Organisation, UK, as per international standards set by the international certification body, Fairtrade Labelling Organisation International (FLO). 
  • Worldwide Responsible Apparel Production (WRAP) registration, USA, as a mark of compliance with a growing list of retailer requirements and audits of factories, based upon 12 principles established by WRAP. 
  • Garmenting, knitting and processing operations have been evaluated, approved and certified by Control Union, Switzerland, earlier known as SKAL. 
  • Awarded Silver Trophy, the second highest award in the 100% EOU/EPZ- Made-ups category, for determined marketing and promotional efforts that led to cotton made-ups exports of over Rs. 5 crores (for outstanding export performance in the year 2001-02) by TEXPROCIL, The Cotton Textiles Export Promotion Council, India. 
  • One of the few companies to get a certificate of quality from Flocert, Germany, for maternity wear. 
  • PASS (Perfect Asia Sourcing Services) is a hologram of quality certification. Every product quality-checked through CUT, is fixated with a unique PASS hologram, doubly assuring the authenticity of the quality of the product.
  • Certification from “Control Union Certifications”, Netherlands for the processing of fibres from certified organic agriculture for the following standards:
           -Global Textile Standards – GOTS 
          -OE 100 Standard of the Organic Exchange – OE 
          -Certification from Control Union for production of eco-friendly organic cotton garments



Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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