Past 10 year’s financial track record analysis by Moneyworks4me indicates that Gokak Textiles Ltd is a below average quality company.
The key valuation ratios of Gokak Textiles Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Gokak Textiles Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Sep'14 | Sep'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -9.3% | -16.8% | -12.6% | -17% | -21.8% | -22.9% | -39.1% | -34.9% | -33.7% | -24.5% | - |
| Value Creation Index ⓘ | -1.7 | NA | -1.9 | -2.2 | -2.6 | NA | NA | NA | NA | NA | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 342 | 329 | 201 | 77.6 | 173 | 173 | 98.2 | 107 | 120 | 79 | 98 |
| Sales YoY Gr. | - | -3.9% | -38.9% | -61.4% | 123.1% | -0% | -43.2% | 8.6% | 12.5% | -34.2% | - |
| Adj EPS ⓘ | -53.2 | -70.3 | -82.1 | -54.3 | -58.3 | -56.6 | -71.1 | -57.4 | -51.4 | -28.2 | 24.9 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 55.3 | -17.1 | 1.8 | 39.5 | 29.4 | -215.6 | -47.4 | -341.7 | -391.4 | -384.9 | -408 |
| Adj Net Profit ⓘ | -34.6 | -45.7 | -53.3 | -35.3 | -37.9 | -36.8 | -46.2 | -37.3 | -33.4 | -18.3 | 16 |
| Cash Flow from Ops. ⓘ | 0.3 | 19.8 | -39.7 | -2.3 | -18.5 | 3.7 | -19.5 | -4.6 | -19 | -11.3 | - |
| Debt/CF from Ops. ⓘ | 568 | 8 | -7.4 | -46.3 | -6 | 24.7 | -6.2 | -29.8 | -8.9 | -13.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -15% | -14.5% | -7% | -34.2% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | -224.1% | -267.3% | NA | NA | ||||
| Share Price | 21.7% | 59.6% | 123.6% | 881.3% | ||||
Performance Ratio Colour Code Guide ⓘ
| Sep'14 | Sep'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -65.3 | -203.9 | -563.6 | -268.5 | -169.3 | -222 | 551.8 | 75.6 | 39.8 | 18.7 | -6.3 |
| Op. Profit Mgn % ⓘ | -1.1 | -6.6 | -15 | -34.1 | -11 | -13.3 | -31.5 | -18.6 | -13.9 | -27.1 | -24.2 |
| Net Profit Mgn % ⓘ | -10.1 | -13.9 | -26.6 | -45.5 | -21.9 | -21.3 | -47 | -35 | -27.8 | -23.2 | 16.5 |
| Debt to Equity ⓘ | 4.4 | 17.8 | 253.3 | 4.1 | 5.8 | 6.4 | -3.9 | -2 | -1.7 | -1.6 | - |
| Working Cap Days ⓘ | 157 | 144 | 350 | 366 | 136 | 125 | 182 | 137 | 100 | 130 | 37 |
| Cash Conv. Cycle ⓘ | 57 | 26 | 65 | 120 | 44 | 32 | 26 | -4 | -8 | 5 | -87 |
Sales growth is good in last 4 quarters at 17.98%
Return on Equity is Poor
Sales growth has been subdued in last 3 years -6.99%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 24.9 | 23.1 |
| TTM Sales (₹ Cr.) | 98.2 | 102 |
| BVPS (₹.) ⓘ | -408 | -495 |
| Reserves (₹ Cr.) ⓘ | -272 | -328 |
| P/BV ⓘ | -0.56 | -0.46 |
| PE ⓘ | 9.12 | 9.82 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 22.40 / 226.85 |
| All Time Low / High (₹) | 8.04 / 216.05 |
| Market Cap (₹ Cr.) | 147 |
| Equity (₹ Cr.) | 6.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 29.4 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Sep'14 | Sep'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 342 | 329 | 100 | 78 | 173 | 173 | 98 | 107 | 120 | 79 |
| Operating Expenses ⓘ | 345 | 350 | 116 | 104 | 192 | 196 | 129 | 127 | 137 | 100 |
| Manufacturing Costs | 64 | 58 | 20 | 17 | 35 | 33 | 23 | 20 | 21 | 15 |
| Material Costs | 218 | 223 | 65 | 52 | 120 | 122 | 68 | 68 | 79 | 53 |
| Employee Cost | 44 | 44 | 18 | 25 | 28 | 32 | 29 | 32 | 31 | 27 |
| Other Costs ⓘ | 19 | 25 | 13 | 9 | 9 | 9 | 9 | 7 | 7 | 5 |
| Operating Profit ⓘ | -4 | -22 | -15 | -27 | -19 | -23 | -31 | -20 | -17 | -21 |
| Operating Profit Margin (%) | -1.1% | -6.6% | -15.0% | -34.3% | -11.1% | -13.3% | -31.5% | -18.6% | -13.9% | -27.1% |
| Other Income ⓘ | 2 | 3 | 5 | 13 | 3 | 7 | 4 | 2 | 4 | 4 |
| Interest ⓘ | 23 | 22 | 10 | 17 | 14 | 14 | 12 | 13 | 15 | 4 |
| Depreciation ⓘ | 10 | 8 | 4 | 7 | 7 | 6 | 6 | 6 | 5 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31 |
| Profit Before Tax ⓘ | -35 | -48 | -23 | -37 | -36 | -36 | -45 | -37 | -33 | 4 |
| Tax ⓘ | 0 | -3 | 1 | -3 | 1 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -34 | -45 | -24 | -34 | -37 | -36 | -45 | -37 | -33 | 4 |
| PAT Margin (%) | -10.0% | -13.8% | -23.8% | -43.6% | -21.5% | -21.0% | -45.4% | -34.6% | -27.1% | 4.5% |
| Adjusted EPS (₹) | -52.5 | -70.0 | -36.8 | -52.1 | -57.2 | -55.9 | -68.6 | -56.7 | -50.1 | 5.5 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Sep'14 | Sep'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 36 | 9 | 1 | 26 | 19 | 14 | -31 | -68 | -100 | -96 |
| Share Capital ⓘ | 6 | 26 | 7 | 6 | 6 | 161 | 6 | 161 | 161 | 161 |
| Reserves ⓘ | 29 | -18 | -6 | 19 | 13 | -147 | -37 | -229 | -261 | -257 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 132 | 133 | 121 | 74 | 83 | 90 | 121 | 138 | 168 | 148 |
| Long Term Debt | 54 | 28 | 63 | 41 | 19 | 26 | 121 | 138 | 168 | 148 |
| Short Term Debt | 78 | 105 | 58 | 32 | 64 | 65 | 0 | 0 | 0 | 0 |
| Trade Payables | 73 | 47 | 27 | 22 | 20 | 30 | 29 | 34 | 20 | 24 |
| Others Liabilities ⓘ | 50 | 56 | 63 | 55 | 48 | 19 | 20 | 23 | 24 | 29 |
| Total Liabilities ⓘ | 291 | 245 | 211 | 176 | 170 | 153 | 139 | 127 | 112 | 105 |
Fixed Assets | ||||||||||
| Gross Block | 359 | 358 | 97 | 97 | 96 | 97 | 95 | 94 | 91 | 91 |
| Accumulated Depreciation | 251 | 261 | 4 | 11 | 17 | 23 | 27 | 33 | 36 | 40 |
| Net Fixed Assetsⓘ | 108 | 98 | 93 | 86 | 79 | 73 | 68 | 62 | 56 | 51 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
| Inventories | 100 | 44 | 38 | 31 | 28 | 25 | 20 | 18 | 16 | 16 |
| Trade Receivables | 18 | 13 | 12 | 7 | 13 | 9 | 6 | 5 | 3 | 2 |
| Cash Equivalents | 1 | 21 | 2 | 0 | 1 | 0 | 3 | 3 | 2 | 1 |
| Others Assetsⓘ | 40 | 45 | 41 | 26 | 24 | 21 | 18 | 13 | 10 | 10 |
| Total Assets ⓘ | 291 | 245 | 211 | 176 | 170 | 153 | 139 | 127 | 112 | 105 |
| PARTICULARS | Sep'14 | Sep'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 0 | 20 | -20 | -2 | -19 | 4 | -20 | -5 | -19 | -11 |
| PBT ⓘ | -35 | -48 | -24 | -37 | -36 | -36 | -45 | -37 | -33 | 4 |
| Adjustment ⓘ | 33 | 29 | 14 | 12 | 19 | 19 | 16 | 19 | 19 | -22 |
| Changes in Working Capital ⓘ | 2 | 39 | -10 | 23 | -1 | 21 | 9 | 14 | -5 | 8 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 0 | 1 | 6 | 3 | 1 | 1 | 3 | 1 | 1 | 0 |
| Capex | -1 | 0 | 5 | 2 | 0 | 0 | 3 | 1 | 1 | 0 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 0 | -1 | -5 | -2 | 18 | -4 | 19 | 4 | 16 | 10 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -23 | -22 | -10 | -16 | -18 | -12 | -9 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 23 | 21 | 4 | 14 | 36 | 7 | 28 | 4 | 16 | 10 |
| Net Cash Flow ⓘ | 0 | 20 | -19 | -1 | 0 | 0 | 2 | 1 | -1 | -1 |
| PARTICULARS | Sep'14 | Sep'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -64.41 | -366.69 | 0 | -257.63 | -166.19 | 0 | N/A | N/A | N/A | N/A |
| ROCE (%) | -5.86 | -14.48 | -8.35 | -14.59 | -17.43 | -18.93 | N/A | N/A | N/A | N/A |
| Asset Turnover Ratio | 1.2 | 1.23 | 0.44 | 0.4 | 1 | 1.07 | 0.67 | 0.8 | 1.01 | 0.73 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -2.75 | Working Capital Days |
| Receivable Days | 22 | 17 | 44 | 43 | 21 | 23 | 27 | 19 | 13 | 12 |
| Inventory Days | 97 | 80 | 150 | 164 | 62 | 55 | 83 | 66 | 52 | 73 |
| Payable Days | 102 | 98 | 209 | 169 | 63 | 75 | 156 | 169 | 126 | 152 |
Gokak Textiles Limited was incorporated on March 27, 2006 as ANZ Textiles (Bangalore) Ltd. The name of the company was changed to Gokak Textiles Limited, with effect from January 23, 2007.
The Forbes Group is a multidivisional group with interests in shipping, engineering, global logistics management, travel services, consumer durables, office automation (Bradma Of India Ltd.) and various others, textiles being the Core Business of the Company. With interests in Manufacturing, Trading and Services, Forbes is working towards becoming a WTO compliant group, to take the advantages that the global market place will have to offer.
Textile Undertaking of Forbes Gokak Limited (known as Forbes & Company Limited) with effect from October 25, 2007 included a Yarn Manufacturing Unit at Gokak Falls and Knitwear Manufacturing Unit at Marihal, both in Belgaum Dist., Karnataka State. By a process of Demerger, under the provisions of the Companies Act and with the approval of High Court, Bombay and High Court of Judicature in Karnataka at Bangalore, was demerged into Gokak Textiles Limited. Prior to the demerger, the Company was a dormant Company. The demerger became effective from April 1, 2007.
As per the Demerger Scheme, Shareholders of Forbes Gokak Ltd. were allotted one share of Gokak Textiles Limited for every two shares held by them in Forbes Gokak Limited, on September 28, 2007, by way of additional entitlement (and not in lieu of their shareholding).
The aggregate paid-up share capital of the company is 64,99,308 shares of face value of Rs.10 each i.e. Rs.6.50 crores. The shares are listed on the Stock Exchange Mumbai, with effect from March 19, 2008.
Business area of the company:
The company’s principal activity is to manufacture and distribute textile products.
Its products include yarn, blended Yarn, Cotton canvas, fabric, terry towel, knitted garments and other related products.
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Here is the summary:
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