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Past 10 year's financial track record analysis by Moneyworks4me indicates that Virat Industries Ltd is a average quality company.
The key valuation ratios of Virat Industries 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 Virat Industries 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.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 23.7% | 14.8% | 19.9% | 17.3% | 12.5% | 3.4% | 5.7% | 2.3% | 5.1% | 5.7% | - |
| Value Creation Index ⓘ | 0.7 | 0.1 | 0.4 | 0.2 | -0.1 | -0.8 | -0.6 | -0.8 | -0.6 | -0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 21.6 | 20.5 | 25.8 | 25.7 | 34.1 | 24.1 | 26.4 | 19.6 | 24.7 | 37.7 | 37 |
| Sales YoY Gr. | - | -5.1% | 25.4% | -0.3% | 32.8% | -29.2% | 9.3% | -25.9% | 26.1% | 52.8% | - |
| Adj EPS ⓘ | 6 | 4.1 | 5.9 | 5.9 | 5.1 | 1.3 | 2.5 | 1 | 2.4 | 2.8 | 2.4 |
| YoY Gr. | - | -31.6% | 42.5% | 0.9% | -14.7% | -73.7% | 84.2% | -59.6% | 141.4% | 15.5% | - |
| BVPS (₹) ⓘ | 25 | 27 | 30.1 | 37.5 | 41.5 | 41.1 | 44.1 | 45.8 | 48.5 | 50.8 | 52.1 |
| Adj Net Profit ⓘ | 3 | 2 | 2.9 | 2.9 | 2.5 | 0.7 | 1.2 | 0.5 | 1.2 | 1.4 | 1 |
| Cash Flow from Ops. ⓘ | 2 | 4 | 5.2 | 1.7 | 1.6 | 3.2 | 1.5 | 4.2 | 0.1 | -1.7 | - |
| Debt/CF from Ops. ⓘ | 1 | 0.2 | 0.1 | 0.3 | 1.3 | 0.2 | 1 | 0.1 | 4.9 | -0.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 6.4% | 2% | 12.6% | 52.8% | ||||
| Adj EPS ⓘ | -8.3% | -11.4% | 4.1% | 15.5% | ||||
| BVPSⓘ | 8.2% | 4.1% | 4.8% | 4.8% | ||||
| Share Price | 15.3% | 20.4% | 62.1% | -31.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 26.5 | 15.8 | 20.6 | 17.5 | 12.8 | 3.2 | 5.8 | 2.2 | 5.1 | 5.6 | 4.7 |
| Op. Profit Mgn % ⓘ | 23.7 | 17.6 | 20 | 19.9 | 15.1 | 12.2 | 12.1 | 10.7 | 11.7 | 8.1 | 5.7 |
| Net Profit Mgn % ⓘ | 13.7 | 9.9 | 11.2 | 11.4 | 7.3 | 2.7 | 4.6 | 2.5 | 4.8 | 3.6 | 3.3 |
| Debt to Equity ⓘ | 0.2 | 0.1 | 0.1 | 0 | 0.1 | 0 | 0.1 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 166 | 218 | 169 | 186 | 149 | 198 | 184 | 244 | 203 | 182 | 129 |
| Cash Conv. Cycle ⓘ | 80 | 93 | 58 | 67 | 65 | 98 | 113 | 169 | 145 | 126 | 101 |
Return on Equity has increased versus last 3 years average to 4.70%
Sales growth is growing at healthy rate in last 3 years 12.62%
Sales growth is good in last 4 quarters at 21.50%
Net Profit has been subdued in last 3 years 4.05%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 2.4 | - |
| TTM Sales (₹ Cr.) | 36.6 | - |
| BVPS (₹.) ⓘ | 52.1 | - |
| Reserves (₹ Cr.) ⓘ | 21 | - |
| P/BV ⓘ | 2.71 | - |
| PE ⓘ | 58.09 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 133.60 / 250.00 |
| All Time Low / High (₹) | 0.45 / 282.60 |
| Market Cap (₹ Cr.) | 69.4 |
| Equity (₹ Cr.) | 4.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 28.4 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 21.63 | 20.53 | 25.75 | 25.67 | 34.09 | 24.13 | 26.38 | 19.56 | 24.66 | 37.68 |
| Operating Expenses ⓘ | 16.59 | 16.92 | 20.65 | 20.77 | 28.98 | 21.27 | 23.19 | 17.48 | 21.78 | 34.63 |
| Manufacturing Costs | 4.48 | 4.37 | 5.47 | 5.32 | 7.38 | 4.19 | 5.63 | 3.24 | 4.33 | 9.96 |
| Material Costs | 7.15 | 6.75 | 8.05 | 7.84 | 12.55 | 9.69 | 10.22 | 7.86 | 10.07 | 15.03 |
| Employee Cost | 2.76 | 3.26 | 4.13 | 4.36 | 5.18 | 4.58 | 4.64 | 4.59 | 4.88 | 5.45 |
| Other Costs ⓘ | 2.21 | 2.52 | 3 | 3.25 | 3.88 | 2.82 | 2.70 | 1.79 | 2.50 | 4.19 |
| Operating Profit ⓘ | 5.04 | 3.62 | 5.10 | 4.90 | 5.10 | 2.86 | 3.19 | 2.08 | 2.88 | 3.05 |
| Operating Profit Margin (%) | 23.3% | 17.6% | 19.8% | 19.1% | 15.0% | 11.9% | 12.1% | 10.7% | 11.7% | 8.1% |
| Other Income ⓘ | 0.88 | 0.53 | 0.64 | 1.58 | 1.60 | 0.23 | 0.78 | 0.66 | 0.48 | 0.73 |
| Interest ⓘ | 0.11 | 0.09 | 0.04 | 0.08 | 0.14 | 0.10 | 0.05 | 0.06 | 0.03 | 0.07 |
| Depreciation ⓘ | 0.95 | 1.04 | 1.22 | 1.36 | 1.62 | 1.94 | 1.91 | 1.76 | 1.60 | 1.54 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 4.87 | 3.02 | 4.48 | 5.04 | 4.95 | 1.06 | 2.01 | 0.93 | 1.73 | 2.18 |
| Tax ⓘ | 1.58 | 0.94 | 1.46 | 1.51 | 1.48 | 0.41 | 0.52 | 0.13 | 0.37 | 0.56 |
| Profit After Tax | 3.28 | 2.08 | 3.02 | 3.52 | 3.47 | 0.65 | 1.48 | 0.79 | 1.35 | 1.62 |
| PAT Margin (%) | 15.2% | 10.1% | 11.7% | 13.7% | 10.2% | 2.7% | 5.6% | 4.1% | 5.5% | 4.3% |
| Adjusted EPS (₹) | 6.7 | 4.2 | 6.1 | 7.2 | 7.1 | 1.3 | 3.0 | 1.6 | 2.8 | 3.3 |
| Dividend Payout Ratio (%) | 27% | 43% | 41% | 35% | 21% | 0% | 0% | 0% | 36% | 0% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 12.32 | 13.28 | 14.81 | 18.46 | 20.44 | 20.21 | 21.72 | 22.53 | 23.86 | 25 |
| Share Capital ⓘ | 4.92 | 4.92 | 4.92 | 4.92 | 4.92 | 4.92 | 4.92 | 4.92 | 4.92 | 4.92 |
| Reserves ⓘ | 7.40 | 8.35 | 9.89 | 13.53 | 15.52 | 15.29 | 16.79 | 17.61 | 18.93 | 20.07 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 1.95 | 0.62 | 0.45 | 0.19 | 1.82 | 0.40 | 1.36 | 0.25 | 0.16 | 0.08 |
| Long Term Debt | 0 | 0 | 0.45 | 0.19 | 0.08 | 0 | 0.31 | 0.24 | 0.16 | 0.08 |
| Short Term Debt | 1.95 | 0.62 | 0 | 0 | 1.73 | 0.40 | 1.06 | 0.01 | 0 | 0 |
| Trade Payables | 1.43 | 1.26 | 1.47 | 2.23 | 3.52 | 2.27 | 1.62 | 1.12 | 2.03 | 3.72 |
| Others Liabilities ⓘ | 5.77 | 5.91 | 7.95 | 5.15 | 1.36 | 1.26 | 1.86 | 1.68 | 1.72 | 1.55 |
| Total Liabilities ⓘ | 21.48 | 21.06 | 24.68 | 26.03 | 27.14 | 24.13 | 26.56 | 25.58 | 27.77 | 30.35 |
Fixed Assets | ||||||||||
| Gross Block | 14.43 | 15.04 | 16.62 | 19.61 | 22.67 | 24.13 | 24.91 | 24.48 | 24.35 | 24.65 |
| Accumulated Depreciation | 8.46 | 9.59 | 10.55 | 10.84 | 11.86 | 13.70 | 15.59 | 17.04 | 18.52 | 20.05 |
| Net Fixed Assetsⓘ | 5.98 | 5.45 | 6.07 | 8.77 | 10.81 | 10.43 | 9.32 | 7.43 | 5.83 | 4.60 |
| CWIP ⓘ | 0.13 | 0 | 0 | 0.03 | 1.20 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 0.27 | 0.26 | 0.25 | 0.25 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 5.30 | 5.49 | 4.87 | 6.58 | 7.53 | 6.05 | 7.53 | 5.91 | 8.87 | 14.14 |
| Trade Receivables | 2.12 | 0.88 | 0.52 | 2.07 | 2.78 | 3.33 | 3.60 | 4.18 | 3.85 | 4.71 |
| Cash Equivalents | 2.35 | 3.58 | 6.23 | 3 | 1.34 | 1.36 | 2.97 | 6.31 | 6.38 | 3.74 |
| Others Assetsⓘ | 5.32 | 5.41 | 6.74 | 5.33 | 3.47 | 2.97 | 3.14 | 1.75 | 2.84 | 3.16 |
| Total Assets ⓘ | 21.48 | 21.06 | 24.68 | 26.03 | 27.14 | 24.13 | 26.56 | 25.58 | 27.77 | 30.35 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 1.97 | 3.95 | 5.23 | 1.70 | 1.61 | 3.15 | 1.47 | 4.20 | 0.05 | -1.72 |
| PBT ⓘ | 4.87 | 3.02 | 4.48 | 5.04 | 4.95 | 1.06 | 2.01 | 0.93 | 1.73 | 2.18 |
| Adjustment ⓘ | 1 | 0.93 | 1.11 | 0.58 | 1.05 | 2.15 | 1.77 | 1.54 | 1.71 | 1.42 |
| Changes in Working Capital ⓘ | -2.19 | 0.97 | 1.38 | -2.73 | -2.89 | 0.34 | -1.5 | 1.8 | -2.91 | -4.57 |
| Tax Paid ⓘ | -1.70 | -0.97 | -1.74 | -1.19 | -1.50 | -0.39 | -0.80 | -0.06 | -0.48 | -0.75 |
| Cash Flow From Investing Activity ⓘ | -1.60 | -0.70 | -4.27 | -0.83 | -2.90 | -0.95 | -1.74 | 0.25 | 0.04 | 0.27 |
| Capex | -0.97 | -0.47 | -1.86 | -3.50 | -5.18 | -0.92 | -0.80 | 0.16 | 0 | -0.31 |
| Net Investments | -0.02 | 0 | 0.02 | 0 | 0.27 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -0.62 | -0.23 | -2.42 | 2.67 | 2 | -0.03 | -0.94 | 0.10 | 0.04 | 0.58 |
| Cash Flow From Financing Activityⓘ | -0.26 | -2.42 | -1.06 | -1.71 | 1.53 | -2.27 | 0.88 | -1.20 | -0.14 | -0.66 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0.68 | -0.23 | -0.10 | -0.26 | 0.29 | -0.07 | -0.07 | -0.08 |
| Interest Paid ⓘ | -0.11 | -0.09 | -0.04 | -0.08 | -0.14 | -0.10 | -0.06 | -0.06 | -0.03 | -0.07 |
| Dividend Paid ⓘ | -0.71 | -0.85 | -0.90 | -1.15 | 0.04 | -0.57 | -0.02 | -0.02 | -0.03 | -0.52 |
| Others ⓘ | 0.56 | -1.48 | -0.80 | -0.25 | 1.73 | -1.33 | 0.66 | -1.05 | -0.01 | 0 |
| Net Cash Flow ⓘ | 0.12 | 0.83 | -0.09 | -0.84 | 0.24 | -0.07 | 0.61 | 3.26 | -0.06 | -2.11 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 29.32 | 16.26 | 21.49 | 21.19 | 17.84 | 3.19 | 7.08 | 3.59 | 5.83 | 6.64 |
| ROCE (%) | 38.83 | 22.07 | 30.77 | 29.76 | 24.54 | 5.37 | 9.4 | 4.28 | 7.49 | 9.13 |
| Asset Turnover Ratio | 1.19 | 0.97 | 1.13 | 1.01 | 1.28 | 0.94 | 1.04 | 0.75 | 0.92 | 1.3 |
| PAT to CFO Conversion(x) | 0.6 | 1.9 | 1.73 | 0.48 | 0.46 | 4.85 | 0.99 | 5.32 | 0.04 | -1.06 | Working Capital Days |
| Receivable Days | 31 | 27 | 10 | 18 | 26 | 46 | 48 | 73 | 59 | 41 |
| Inventory Days | 79 | 96 | 73 | 81 | 76 | 103 | 94 | 125 | 109 | 111 |
| Payable Days | 72 | 73 | 62 | 86 | 84 | 109 | 69 | 64 | 57 | 70 |
Virat Industries (VIL), is a public company, quoted on the Indian stock markets. VIL is a 100% Export Oriented Unit (EOU) manufacturing excellent quality socks for export, mainly to the European markets.
The company started its operations in 1995 and has successfully completed more than a decade in socks business. The socks are manufactured on the latest computerized electronic knitting machines by Lonati,Matec & Sangiacomo Italy supported with balancing equipment from Spain and other European markets.
Production capacity is normally based on size, design and style of socks. As per the prevalent pattern of production, the production capacity of VIL is estimated at 3.5 million pairs per annum.
Virat's factory is situated at the GIDC (Gujarat Industrial Development Corporation) Industrial Estate, Navsari, Gujarat. It is located adjacent to the National Highway No. 8, connecting Mumbai. Navsari, an industrial town, situated equidistant between two of the largest industrial cities in India namely MUMBAI (233 KM) and AHMEDABAD (260 km).
The factory was designed and engineered by Gherzi Textil Organisation, Switzerland and their Associates Gherzi Eastern Mumbai, India. VIL commenced production in November 1995 The project cost was around Rs. 85 million.
Product range of the company includes:
Virat plays the role of a contract manufacturer who supplies socks against specific orders. Socks are manufactured in cotton, cotton/viscose, wool, acrylic, wool/cashmere, wool/silk, cotton/silk.
John Lewis, House of Fraser, TK Maxx, Next, Fatface in the UK, Migros in Switzerland and Shoe Mart in the Middle East. The company is also an approved supplier to the Levis + Dockers brands in India.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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