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Spice Islands Apparels Ltd. Stock Analysis

Small Cap
Evaluated by 76 users | BSE: 526827 | NSE: |
Textile
Spice Islands Apparels was established in 1994 by two experienced textile professionals. During the initial set-up phase, the company was manufacturing its merchandise through sub-contracted factories and basically offered only men's shirts and ladies tops. Spice Islands set up its own...

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'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 25.05%9.54%2.42%-3.45%1.8%4.16%1.61%-13.64%-11.58%-27.68%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 20.419.413.812.316.224.12317.728.817
Y-o-Y Gr. Rt.--4.7%-28.9%-10.8%31.3%49.1%-4.8%-22.8%62.6%-40.9%
Adjusted EPS (Rs.) 7.913.040.39-1.720.321.070.24-4.8-4.51-8.41
Y-o-Y Gr. Rt.--61.6%-87.2%-541%NA234.4%-77.6%-2100%NANA
Book Value per Share (Rs.) 33.0334.393431.6531.4830.6530.3925.8822.8413.7
Adjusted Net Profit 3.41.30.2-0.70.10.50.1-2.1-1.9-3.6
Net Op. Cash Flow (Rs. Cr.) 4.1-1.5-0.52.41-2.61.6-1.8-3.40.8
Debt to Cash Flow from Ops 0.29-0.98-5.780.160.16-0.070.69-1.41-1.44.2
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.
Spice Islands Apparels Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -2%1%-9.5%-40.9%
Adjusted EPS -200.7%-292.3%-427.2%NA
Book Value per Share -9.3-15.3-23.3-40
Share Price -11.7% -33.4% -42.2% -80.2%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) 26.39.021.13-5.2313.450.78-17.05-18.49-46.02
Operating Profit Margin (%) 17.3913.353.03-5.43-0.772.411.07-10.06-5.04-20.86
Net Profit Margin (%) 16.676.721.21-60.841.910.45-11.64-6.72-21.22
Debt to Equity 0.080.10.210.030.010.010.080.230.490.59
Working Capital Days 105133235222125106133153116188
Cash Conversion Cycle 476311183351729514876
Entity Percentage Holding
Promoters 62.34%
Non-Institutions 37.66%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Spice Islands Apparels Ltd.'s performance infers:

Spice Islands Apparels Ltd. earnings have declined by -292.3%, whereas share price has depreciated -33.4% 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 Spice Islands Apparels Ltd. share prices over the last 10 years. Here is what we found out:

Spice Islands Apparels Ltd. share price has depreciated -18.2% annually over the past ten years.

Spice Islands Apparels was established in 1994 by two experienced textile professionals. During the initial set-up phase, the company was manufacturing its merchandise through sub-contracted factories and basically offered only men's shirts and ladies tops.

Spice Islands set up its own manufacturing facility, which it since expanded in 1995 and again in 1999.

In 1995, the company came out with its maiden public issue and received an overwhelming response due to the company's strong

Spice Islands Apparels was established in 1994 by two experienced textile professionals. During the initial set-up phase, the company was manufacturing its merchandise through sub-contracted factories and basically offered only men's shirts and ladies tops.

Spice Islands set up its own manufacturing facility, which it since expanded in 1995 and again in 1999.

In 1995, the company came out with its maiden public issue and received an overwhelming response due to the company's strong position in the garment industry and sound fundamentals.

Subsequently, Spice Islands has been recognized as an Export House by the government of India since 1995.

In 1996, Spice Islands added the manufacturing of T-shirts (both men's and ladies) to its line of products. Having successfully managed its woven & jersey business, Spice Islands expanded its operations to incorporate a new strategy - sourcing & commissioned inspections.

Spice Islands has grown considerably since its initial conception and is now experienced in a variety of areas, including manufacturing, sourcing, agency work and commissioned inspections.

The shares of the company are listed on the Bombay Stock Exchange, Ahmedabad Stock Exchange and Poona Stock Exchange. It also operates a subsidiary namely Bhupco Alloys.

Its registered office is located at 62-B, Mittal Tower, 210, Nariman Point, Mumbai 400021.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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