Gokaldas Exports Ltd - Stock Valuation and Financial Performance

BSE: 532630 | NSE: GOKEX | Textile | Small Cap

Gokaldas Exports Share Price

920.15 -36.65 -3.83%
as on 12-Jul'24 16:01

DeciZen - make an informed investing decision on Gokaldas Exports

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Gokaldas Exports stock performance -

mw4me loader
P/E Ratio (SA):
40.10
Market Cap:
6,582.8 Cr.
52-wk low:
480.1
52-wk high:
1,022

Is Gokaldas Exports Ltd an attractive stock to invest in?

1. Is Gokaldas Exports Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Gokaldas Exports Ltd is a average quality company.

2. Is Gokaldas Exports Ltd undervalued or overvalued?

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

3. Is Gokaldas Exports Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Gokaldas Exports Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Gokaldas Exports:

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.
Gokaldas Exports Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 7.7%3.2%10%-5.2%-3.6%10.4%5.6%8%18.1%22.1%-
Value Creation
Index
-0.5-0.8-0.3-1.4-1.3-0.3-0.6-0.40.30.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,1121,0701,1239151,0311,1731,3681,2091,7892,2212,139
Sales YoY Gr.--3.8%4.9%-18.5%12.7%13.8%16.6%-11.6%47.9%24.2%-
Adj EPS 1.6-5.36.7-16.2-13.99.52.16.317.22823
YoY Gr.--442.3%NA-342.1%NANA-77.7%197.2%174.6%62.4%-
BVPS (₹) 35.345.261.24736.554.850.864.3118.2143.5271.9
Adj Net
Profit
5.4-18.523.3-56.6-48.740.69.126.9102169164
Cash Flow from Ops. 36.969.384.411.725.251.397.9118121368-
Debt/CF from Ops. 8.44.54.140.618.87.443.10.50.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8%16.6%17.5%24.2%
Adj EPS 37.8%NA136.6%62.4%
BVPS16.9%31.5%41.4%21.4%
Share Price 28.5% 57.7% 60.9% 73.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
4.4-13.312.6-29.9-33223.910.320.321.111.1
Op. Profit
Mgn %
6.423.3-3.4-2.36.65.48.510.211.811.9
Net Profit
Mgn %
0.5-1.72.1-6.2-4.73.50.72.25.77.67.7
Debt to
Equity
2.621.62.93.71.61.81.30.100
Working Cap
Days
12513613020022720718421014711676
Cash Conv.
Cycle
61625696107948598765939

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 17.54%

Net Profit is growing at healthy rate in last 3 years 136.64%

Return on Equity has declined versus last 3 years average to 11.10%

Sales growth is not so good in last 4 quarters at -2.97%

Latest Financials - Gokaldas Exports Ltd.

Standalone Consolidated
TTM EPS (₹) 23 18.3
TTM Sales (₹ Cr.) 2,139 2,379
BVPS (₹.) 271.9 264.9
Reserves (₹ Cr.) 1,906 1,856
P/BV 3.39 3.48
PE 40.10 50.26
From the Market
52 Week Low / High (₹) 480.05 / 1022.00
All Time Low / High (₹) 22.75 / 1022.00
Market Cap (₹ Cr.) 6,583
Equity (₹ Cr.) 35.7
Face Value (₹) 5
Industry PE 29.4

Management X-Ray of Gokaldas Exports:

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 Gokaldas Exports

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
Sales1,1121,0701,1239151,0311,1731,3681,2091,7892,221
Operating Expenses 1,0691,0491,0859461,0541,1121,2941,1091,6061,958
Manufacturing Costs289314293278756459558984
Material Costs5735465954835375236896038871,177
Employee Cost 114127122108336394467371539619
Other Costs 9362757710713179799278
Operating Profit 432137-31-236274101183263
Operating Profit Margin (%) 3.8%2.0%3.3%-3.4%-2.3%5.3%5.4%8.3%10.2%11.8%
Other Income 15462839472229123237
Interest 40473936373337344025
Depreciation 25302017161954525871
Exceptional Items 0444500-620006
Profit Before Tax -73451-46-30253226117210
Tax 00-1001-100031
Profit After Tax -73461-46-31263226117178
PAT Margin (%) -0.6%3.2%5.4%-5.1%-3.0%2.2%2.4%2.2%6.5%8.0%
Adjusted EPS (₹)-2.19.917.4-13.2-8.86.07.66.119.829.5
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%3%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 121156213164127235217276697869
Share Capital 17171717172121212930
Reserves 104139195147110213196254667839
Minority Interest0000000000
Debt309289313474472381391339589
Long Term Debt6427000001920
Short Term Debt245262313474472381391320569
Trade Payables1141011048098851148611884
Others Liabilities 6398857697122216298341350
Total Liabilities 6086457157947948239389981,2141,312

Fixed Assets

Gross Block440420374111130159277385471500
Accumulated Depreciation281295282173552105150189239
Net Fixed Assets158125929495107171235282261
CWIP 0221011000
Investments 3232292920205557174365
Inventories202209194187173258286258433292
Trade Receivables97778021221616214418092136
Cash Equivalents 357020945171112151321
Others Assets83129109228272264269254221238
Total Assets 6086457157947948239389981,2141,312

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 37698412255198118121368
PBT -73451-46-30253226117204
Adjustment 5522544455162888791
Changes in Working Capital -1114311411-2931-70112
Tax Paid -1-2-2-1-1402-13-39
Cash Flow From Investing Activity 21-17-8326-140-39-32-57-283
Capex 14436-11-12-22-8-34-53-33
Net Investments 7-22-27925-1010-40-817-166
Others 01159129121010-21-84
Cash Flow From Financing Activity -37-374-54-40-57-44-85-42-85
Net Proceeds from Shares 0110068002934
Net Proceeds from Borrowing 61-17-18-30000000
Interest Paid -31-37-33-36-38-34-29-29-25-10
Dividend Paid 0000000000
Others -67175512-2-91-15-57-309-79
Net Cash Flow 20166-16-28-6150221
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-5.9324.7432.86-24.53-21.1914.1514.3210.642422.78
ROCE (%)7.6118.0517.69-1.581.29.4711.119.4921.9227.82
Asset Turnover Ratio1.811.711.651.221.31.451.551.251.621.76
PAT to CFO Conversion(x)N/A2.031.38N/AN/A1.963.064.541.032.07
Working Capital Days
Receivable Days29302658765941492819
Inventory Days73706576646773827060
Payable Days74726370606453604231

Gokaldas Exports Ltd Stock News

Gokaldas Exports Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Gokaldas Exports on 12-Jul-2024 16:01 is ₹920.1.
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 Gokaldas Exports stood at ₹6,582.8.
The latest P/E ratio of Gokaldas Exports as of 12-Jul-2024 16:01 is 40.10.
The latest P/B ratio of Gokaldas Exports as of 12-Jul-2024 16:01 is 3.39.
The 52-week high of Gokaldas Exports is ₹1,022 and the 52-week low is ₹480.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gokaldas Exports is ₹2,139 ( Cr.) .

About Gokaldas Exports Ltd

Gokaldas Exports Limited (GEL) is a leading apparel manufacturer since 1979. The company exports to some of the major fashion brands and retailers across many countries. The company consistently strives to deliver excellence every step of the way.

The company’s world class apparel manufacturing facilities are complemented by integrated ancillary units which provide services such as laundry, embroidery, printing, quilting, and poly wadding. It is one of the largest organized apparel manufacturers in India with a manufacturing capacity of multimillion apparel pieces per annum.

The company has a proud workforce of nearly thousands of people, 80% of whom are women. All the units are certified to international standards for environmental and social compliance. The Company is listed on the Bombay Stock Exchange (BSE) Limited and National Stock Exchange (NSE) Limited.

Business area of the company

The company is engaged in the designing, manufacturing and exporting of a wide range of apparel products ranging from outerwear, activewear and fashion wear for all seasons.

Products

  • High fashion garments
  • Outerwear
  • Industrial workwear
  • Healthcare garments
  • Sportswear

Services offered

  • Laying
  • Cutting
  • Sewing
  • Checking
  • Labs
  • Washing
  • Ironing
  • Finishing
  • Design
  • Embroidery
  • Printing
  • Laser
  • Fusing
  • Scraping
  • Hand Grinding
  • Quilting
  • Polyfill

Milestones

  • 1947: After India’s partition in the year 1947, Jhamandas Hinduja and his two brothers, Naraindas and Devkishendas, moved their Sindh-based silk trading business Gokaldas Harbhagwandas Partners to India.
  • 1979: The business was split among the three brothers, with Jhamandas Hinduja taking the lead of the major successor, Gokaldas Exports. The Company was subsequently run by his three sons, Madanlal, Rajendra, and Dinesh Hinduja, who were involved since its inception.
  • 2005: The Company went public in 2005 and was listed on Indian stock exchanges.
  • 2007: Gokaldas Exports Ltd. crossed the Rs 10 billion sales milestone, a first for an Indian apparel Company. Looking at the growing potential of the textile industry, Blackstone, the global private equity giant, acquired a controlling stake of approximately 70% in the Company.
  • 2007-2017: Under the management and leadership of Blackstone, the Company confronted a changing business environment ushered in by abolition of Multi Fibre Agreement imposed Quotas and a growing apparel business in Bangladesh.
  • 2017: Blackstone steadily reduced its investment in the Company and finally exited from its decadelong investment by selling its stake to another Private Equity firm Clear Wealth Consultancy Services LLP.
  • 2021: Clear Wealth now holds about 33% of the Company, and the Company is listed on BSE and NSE of India. With the COVID-19 pandemic, Gokaldas Exports faced a new kind of challenge, but it turned the crisis into an opportunity and achieved greater market share in the bargain. The journey continues as the Company gears up to take monumental strides.
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