Spice Islands Apparels Ltd - Stock Valuation and Financial Performance

BSE: 526827 | NSE: | Textile | Small Cap

Spice Island Apparel Share Price

35.75 -0.75 -2.05%
as on 28-Mar'24 13:52

DeciZen - make an informed investing decision on Spice Island Apparel

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Spice Islands Apparels stock performance -

mw4me loader
P/E Ratio (SA):
84.84
Market Cap:
15.7 Cr.
52-wk low:
6.8
52-wk high:
41.6

Is Spice Islands Apparels Ltd an attractive stock to invest in?

1. Is Spice Islands Apparels Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Spice Islands Apparels Ltd is a below average quality company.

2. Is Spice Islands Apparels Ltd undervalued or overvalued?

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

3. Is Spice Islands Apparels Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Spice Islands Apparels Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Spice Island Apparel:

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.
Spice Islands Apparels Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 1.8%4.2%1.6%-13.6%-11.6%-27.7%-41%-50.9%-70%-31.8%-
Value Creation
Index
-0.9-0.7-0.9-2.0-1.8-3.0-3.9-4.6NANA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 16.224.12317.728.81715.66.62.70.91
Sales YoY Gr.-49.1%-4.8%-22.8%62.6%-40.9%-8.2%-57.8%-59.4%-67.9%-
Adj EPS 0.31.10.2-4.8-4.5-8.4-7.3-4.8-2.7-0.20.4
YoY Gr.-234.4%-77.6%-2100%NANANANANANA-
BVPS (₹) 31.530.730.425.922.813.76.91.8-1.2-1.5-1
Adj Net
Profit
0.10.50.1-2.1-1.9-3.6-3.1-2.1-1.2-0.10
Cash Flow from Ops. 1-2.61.6-1.8-3.40.8-0.2-0.90.80.1-
Debt/CF from Ops. 0.2-0.10.7-1.4-1.44.2-8.2-2.21.18.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -27.8%-50.5%-62%-67.9%
Adj EPS -196.4%NANANA
BVPS-171%-157.6%-159.5%NA
Share Price 14.8% 18.9% 119.1% 373.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
13.50.8-17.1-18.5-46-70.5-109.8-936.717-35.4
Op. Profit
Mgn %
-0.82.41.1-10.1-5-20.9-17.2-24.4-34.4-20.3-4.1
Net Profit
Mgn %
0.81.90.5-11.6-6.7-21.2-20-31-43.8-11.330.3
Debt to
Equity
000.10.20.50.60.72.6-1.7-1-
Working Cap
Days
12510613315311618812819930952196
Cash Conv.
Cycle
35172951487633336083-398

Recent Performance Summary

Sales growth is good in last 4 quarters at 180.77%

Return on Equity is Poor

Sales growth has been subdued in last 3 years -61.97%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials - Spice Islands Apparels Ltd.

Standalone Consolidated
TTM EPS (₹) 0.4 4.1
TTM Sales (₹ Cr.) 0.6 17.8
BVPS (₹.) -1 0
Reserves (₹ Cr.) -5 11
P/BV -37.29 0.00
PE 84.84 9.00
From the Market
52 Week Low / High (₹) 6.83 / 41.55
All Time Low / High (₹) 2.45 / 52.15
Market Cap (₹ Cr.) 15.7
Equity (₹ Cr.) 4.3
Face Value (₹) 10
Industry PE 27.9

Management X-Ray of Spice Island Apparel:

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 Spice Island Apparel

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
Sales16.1724.1122.9517.7328.8217.0315.646.602.680.86
Operating Expenses 16.5123.5322.7719.5330.3921.2818.338.353.831.08
Manufacturing Costs4.726.716.435.276.402.342.831.260.390.06
Material Costs6.099.958.897.1914.059.258.693.971.640.49
Employee Cost 2.473.103.493.094.124.142.580.690.200.04
Other Costs 3.233.783.963.985.825.544.232.431.600.50
Operating Profit -0.340.580.18-1.80-1.57-4.24-2.70-1.74-1.16-0.22
Operating Profit Margin (%) -2.1%2.4%0.8%-10.2%-5.4%-24.9%-17.2%-26.4%-43.2%-25.7%
Other Income 1.230.780.811.041.220.560.510.150.110.22
Interest 0.160.150.170.240.430.430.290.140.110.06
Depreciation 0.240.390.490.470.490.480.390.300.150.04
Exceptional Items 000000-0.09-0.1500
Profit Before Tax 0.480.820.32-1.47-1.27-4.58-2.96-2.18-1.30-0.10
Tax 0.050.210.050.070.05-0.67-0.0300.010.02
Profit After Tax 0.430.610.28-1.54-1.32-3.91-2.94-2.18-1.32-0.12
PAT Margin (%) 2.7%2.5%1.2%-8.7%-4.6%-23.0%-18.8%-33.0%-49.2%-14.2%
Adjusted EPS (₹)1.01.40.7-3.6-3.1-9.1-6.8-5.1-3.1-0.3
Dividend Payout Ratio (%)100%106%116%0%0%0%0%0%0%0%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 13.5413.1813.0711.139.825.892.950.77-0.52-0.62
Share Capital 4.304.304.304.304.304.304.304.304.304.30
Reserves 9.248.888.776.835.521.59-1.35-3.53-4.82-4.92
Minority Interest0000000000
Debt0.090.110.862.284.503.201.801.990.870.63
Long Term Debt0.090.110.860.690.390.140.020.310.140.63
Short Term Debt0001.594.113.061.781.680.730
Trade Payables0.181.060.690.881.661.331.040.430.250.10
Others Liabilities 1.211.461.171.222.050.831.911.172.261.18
Total Liabilities 15.0115.8115.7915.5118.0311.267.714.362.851.27

Fixed Assets

Gross Block4.744.986.403.544.033.263.411.951.540.95
Accumulated Depreciation2.413.043.500.460.911.031.330.700.700.35
Net Fixed Assets2.331.942.893.083.122.232.081.250.840.60
CWIP 0000000000
Investments 2.682.362.882.962.711.810.19000
Inventories1.021.651.581.010.861.050.730.110.020
Trade Receivables0.170.801.442.535.792.251.120.680.770.06
Cash Equivalents 4.992.472.372.241.110.760.920.430.150.07
Others Assets3.816.584.613.684.433.152.671.891.070.54
Total Assets 15.0115.8115.7915.5118.0311.267.714.362.851.27

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1.02-2.641.56-1.78-3.430.82-0.24-0.900.760.07
PBT 0.480.820.32-1.47-1.27-4.58-2.96-2.18-1.30-0.10
Adjustment 0.10-0.020.07-0.33-0.051.240.540.770.44-0.01
Changes in Working Capital 0.55-3.391.230.09-2.124.172.190.51.630.02
Tax Paid -0.12-0.05-0.06-0.07000000.16
Cash Flow From Investing Activity 0.190.74-1.370.850.380.542.120.500.150.15
Capex 0.11-0.29-1.44-0.66-0.510.0700.460.110.15
Net Investments -0.380.49-0.411.220.700.272.050.040.050
Others 0.460.540.480.290.190.210.07000
Cash Flow From Financing Activity -0.63-0.62-0.290.791.92-1.72-1.72-0.08-1.20-0.30
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -0.220.030.640000000
Interest Paid -0.16-0.15-0.16-0.24-0.34-0.36-0.18-0.08-0.06-0.06
Dividend Paid -0.22-0.43-0.65-0.32-0.02-0.01-0.01-0.010.010
Others -0.04-0.07-0.131.352.29-1.35-1.530.01-1.14-0.24
Net Cash Flow 0.57-2.52-0.10-0.13-1.13-0.350.16-0.48-0.28-0.08
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)3.164.572.12-12.76-12.58-49.77-66.37-116.95N/AN/A
ROCE (%)4.667.123.59-8.85-5.93-34.69-37.54-53.24N/AN/A
Asset Turnover Ratio1.061.561.451.131.721.161.651.090.740.42
PAT to CFO Conversion(x)2.37-4.335.57N/AN/AN/AN/AN/AN/AN/A
Working Capital Days
Receivable Days18718415386395099176
Inventory Days222026271220212380
Payable Days112336403359506876127

Spice Islands Apparels Ltd Stock News

Spice Islands Apparels Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Spice Island Apparel on 28-Mar-2024 13:52 is ₹35.75.
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 28-Mar-2024 13:52 the market cap of Spice Island Apparel stood at ₹15.70.
The latest P/E ratio of Spice Island Apparel as of 28-Mar-2024 13:52 is 84.84.
The latest P/B ratio of Spice Island Apparel as of 28-Mar-2024 13:52 is -37.29.
The 52-week high of Spice Island Apparel is ₹41.55 and the 52-week low is ₹6.83.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Spice Island Apparel is ₹0.61 ( Cr.) .

About Spice Islands Apparels Ltd

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.

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