WEBSITE BSE:533109 NSE: EURO MULTI Inc. Year: 2004 Industry: Consumer Durables - Electronics My Bucket: Add Stock
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1. Business Overview
Euro Multivision Ltd. was an India-based company primarily engaged in the manufacturing and marketing of Cathode Ray Tube (CRT) televisions and computer monitors, along with related electronic components. Its core business model involved producing these display devices and distributing them within the Indian market. The company generated revenue through the sale of these electronic goods. However, its primary product lines became largely obsolete with the advent and widespread adoption of LCD, LED, and subsequently OLED display technologies.
2. Key Segments / Revenue Mix
Historically, the company's revenue was primarily derived from:
CRT Televisions
CRT Computer Monitors
Electronic Components (likely for its display products)
Given the obsolescence of its main product categories and its current financial and operational status, current revenue generation is likely minimal or non-existent, and a meaningful breakdown of segments is not available or relevant.
3. Industry & Positioning
Euro Multivision Ltd. operated within the Indian Consumer Durables - Electronics sector. Specifically, it was positioned in the display device market, focusing on CRT technology. At its peak, it was one of the domestic manufacturers of CRT TVs and monitors, competing with other Indian brands and, to a lesser extent, international players in that specific niche. However, the broader consumer electronics industry rapidly evolved, making CRT technology redundant. The company failed to adapt to the transition to flat-panel displays, losing its market position entirely as the industry shifted.
4. Competitive Advantage (Moat)
Euro Multivision Ltd. exhibited no durable competitive advantages or "moats."
Brand: While it may have had some brand recognition in the CRT segment, it lacked a strong, enduring brand that could transcend technological shifts.
Scale: Any scale advantages in CRT manufacturing were negated by the segment's obsolescence.
Network/Switching Costs: The company did not have a strong distribution network or product ecosystem that created high switching costs for consumers.
Technology/Patents: Its core technology (CRT) became outdated, and there's no evidence of proprietary technology or patents that could sustain its business beyond that era. The lack of adaptability to new display technologies proved to be a critical weakness.
5. Growth Drivers
Given the company's historical business model centered on obsolete CRT technology, its severe financial distress, operational cessation, and delisting from exchanges, there are no apparent or identifiable current growth drivers. The company's primary business is defunct, and there is no public information indicating a pivot to a new, viable business model or significant restructuring that would drive future growth.
6. Risks
Euro Multivision Ltd. faces extreme and fundamental business risks, many of which have already materialized:
Technological Obsolescence: The complete obsolescence of its core product (CRT displays) led to a catastrophic decline in demand.
Financial Distress: The company has faced severe financial difficulties, including insolvency proceedings under India's IBC, and its shares have been delisted.
Operational Cessation: Its manufacturing and commercial operations have largely ceased.
Lack of Viable Business Model: Without a relevant product or service, the company lacks a foundation for future operations.
Liquidation Risk: There is a high risk of liquidation or complete winding down of the company.
Regulatory & Legal Risks: Ongoing legal and regulatory issues related to its insolvency and delisting.
7. Management & Ownership
Euro Multivision Ltd. was promoted by the Multivision Group. Information regarding the quality of management, particularly its ability to foresee or adapt to technological shifts in the display industry, is retrospectively viewed as inadequate given the company's eventual failure. The company's ownership structure, previously including promoter, institutional, and public holdings, has been significantly impacted by its financial distress and delisting, rendering current ownership largely illiquid and diminished in practical value.
8. Outlook
The outlook for Euro Multivision Ltd. is extremely challenging. The company's historical business model is entirely obsolete, it has undergone insolvency proceedings, and its shares are no longer traded on major exchanges. There is no publicly available information suggesting a revival plan, a successful pivot to a new business, or significant assets that could be monetized to create shareholder value. A positive turnaround appears highly improbable without a complete and radical restructuring, for which there is no current indication. The most likely scenario involves continued operational dormancy or eventual liquidation.
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Market Cap ₹3 Cr.
Stock P/E -0.3
P/B -
Current Price ₹1.4
Book Value ₹ 0
Face Value 10
52W High ₹0
Dividend Yield 0%
52W Low ₹ 0
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | 0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3 | 0 |
| Profit Before Tax | -4 | -4 | -4 | -3 | -3 | -3 | -3 | -3 | -6 | -3 |
| Provision for Tax | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -4 | -4 | -4 | -3 | -3 | -3 | -3 | -3 | -6 | -3 |
| Adjustments | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -4 | -4 | -4 | -3 | -3 | -3 | -3 | -3 | -6 | -3 |
| Adjusted Earnings Per Share | -1.6 | -1.5 | -1.5 | -1.3 | -1.3 | -1.3 | -1.3 | -1.3 | -2.6 | -1.3 |
| #(Fig in Cr.) | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 62 | 18 | 13 | 15 | 24 | 20 | 10 | 7 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 1 | 1 | 8 | 1 | 4 | 2 | 2 | 0 | 1 | 0 | 0 |
| Total Income | 62 | 19 | 14 | 22 | 25 | 24 | 12 | 9 | 1 | 1 | 0 | 0 |
| Total Expenditure | 93 | 29 | 15 | 16 | 25 | 21 | 16 | 10 | 2 | 1 | 1 | 0 |
| Operating Profit | -31 | -11 | -1 | 6 | -0 | 3 | -3 | -2 | -1 | -0 | -0 | 0 |
| Interest | 34 | 0 | 0 | 47 | 47 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 27 | 20 | 19 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 12 | 12 |
| Exceptional Income / Expenses | 0 | 0 | 0 | -78 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3 |
| Profit Before Tax | -92 | -31 | -20 | -133 | -61 | -12 | -17 | -16 | -15 | -14 | -12 | -15 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | -0 | 0 |
| Profit After Tax | -92 | -31 | -20 | -133 | -61 | -12 | -17 | -17 | -15 | -14 | -12 | -15 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -92 | -31 | -20 | -133 | -61 | -12 | -17 | -17 | -15 | -14 | -12 | -15 |
| Adjusted Earnings Per Share | -38.8 | -12.9 | -8.5 | -55.9 | -25.7 | -4.9 | -7.2 | -7.2 | -6.3 | -5.9 | -5.2 | -6.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | -100% | -100% | -100% |
| Operating Profit CAGR | 0% | 0% | -100% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 0% | -3% | 9% | -2% |
| ROE Average | 0% | 0% | 0% | -37% |
| ROCE Average | 0% | 0% | 0% | -14% |
| #(Fig in Cr.) | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | -23 | -54 | -74 | -208 | -269 | -281 | -298 | -315 | -330 | -344 | -356 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 104 | 25 | 20 | 18 | 17 | 14 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 160 | 231 | 229 | 357 | 403 | 407 | 421 | 414 | 412 | 413 | 412 |
| Total Liabilities | 241 | 201 | 175 | 167 | 151 | 140 | 123 | 99 | 82 | 69 | 56 |
| Fixed Assets | 200 | 178 | 159 | 145 | 131 | 117 | 103 | 89 | 76 | 62 | 50 |
| Other Non-Current Assets | 2 | 2 | 2 | 2 | 2 | 5 | 4 | 2 | 2 | 2 | 2 |
| Total Current Assets | 38 | 21 | 14 | 20 | 18 | 18 | 15 | 8 | 5 | 6 | 4 |
| Total Assets | 241 | 201 | 175 | 167 | 151 | 140 | 123 | 99 | 82 | 69 | 56 |
| #(Fig in Cr.) | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 6 | 3 | 2 | 3 | 2 | 3 | 3 | 3 | 2 | 1 | 1 |
| Cash Flow from Operating Activities | -2 | -1 | 3 | 127 | 47 | 3 | 3 | -1 | -2 | -0 | 0 |
| Cash Flow from Investing Activities | -1 | 0 | 0 | -0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Cash Flow from Financing Activities | -0 | -0 | -3 | -127 | -47 | -2 | -3 | -0 | 2 | 0 | -0 |
| Net Cash Inflow / Outflow | -3 | -1 | 0 | -0 | 0 | 0 | -0 | -1 | -0 | -0 | -0 |
| Closing Cash & Cash Equivalent | 3 | 2 | 3 | 2 | 3 | 3 | 3 | 2 | 1 | 1 | 1 |
| # | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -38.81 | -12.92 | -8.47 | -55.93 | -25.74 | -4.9 | -7.22 | -7.15 | -6.34 | -5.92 | -5.15 |
| CEPS(Rs) | -27.53 | -4.59 | -0.48 | -50 | -19.81 | 0.96 | -1.36 | -1.3 | -0.52 | -0.12 | -0.1 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -9.84 | -22.77 | -31.24 | -87.25 | -112.99 | -117.95 | -125.2 | -132.34 | -138.71 | -144.63 | -149.78 |
| Core EBITDA Margin(%) | -48.34 | -57.26 | -10.46 | -8.09 | -4.12 | -4.11 | -52.79 | -48.86 | -440.83 | -3443.13 | 0 |
| EBIT Margin(%) | -89.15 | -155.52 | -135.41 | -539.81 | -58.06 | -55.21 | -167.47 | -224.13 | -4101.12 | 0 | 0 |
| Pre Tax Margin(%) | -142.27 | -156.77 | -137.11 | -836.48 | -249.34 | -57.14 | -167.8 | -224.64 | -4112.19 | 0 | 0 |
| PAT Margin (%) | -142.48 | -156.77 | -137.11 | -836.48 | -249.34 | -57.14 | -167.8 | -244.59 | -4112.19 | 0 | 0 |
| Cash Profit Margin (%) | -101.09 | -55.71 | -7.75 | -747.88 | -191.98 | 11.2 | -31.49 | -44.35 | -334.92 | -871.25 | 0 |
| ROA(%) | -33.84 | -13.92 | -10.71 | -77.83 | -38.47 | -8 | -13.07 | -15.37 | -16.67 | -18.64 | -19.68 |
| ROE(%) | -405.91 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ROCE(%) | -23.66 | -15.37 | -11.68 | -106.77 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivable days | 94.25 | 185.38 | 71.24 | 97.91 | 95.99 | 108.76 | 244.58 | 284.7 | 1570.04 | 4680.44 | 0 |
| Inventory Days | 111.82 | 173.96 | 160.41 | 121.21 | 71.59 | 92.6 | 134.12 | 40.34 | 216.21 | 2823.66 | 0 |
| Payable days | 80.66 | 183.12 | 128.55 | 123.86 | 49.89 | 69.56 | 180.46 | 174.38 | 728.46 | 1962.47 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | -0.52 | -0.11 | -0.03 | -0.02 | -0.02 | -0.02 | -0.02 | -0.01 | -0 | -0.01 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 3.81 | 13.83 | 16.54 | 15.03 | 9.23 | 10.86 | 21.35 | 31.25 | 590.65 | 6828.18 | 0 |
| EV/Core EBITDA(x) | -7.65 | -23.41 | -250.02 | 34.76 | -1290.38 | 82.71 | -68.54 | -130.76 | -182.38 | -1487.42 | -655.66 |
| Net Sales Growth(%) | -32.03 | -70.87 | -25.77 | 10.13 | 62.89 | -15.22 | -49.84 | -32.05 | -94.73 | -91.28 | -96.88 |
| EBIT Growth(%) | -203.15 | 47.2 | 34.77 | -331.49 | 83.4 | 20.93 | -52.1 | 9.06 | 3.53 | 7.26 | 11.25 |
| PAT Growth(%) | -214.75 | 66.7 | 34.47 | -560.32 | 53.98 | 80.94 | -47.25 | 0.96 | 11.36 | 6.64 | 12.97 |
| EPS Growth(%) | -214.75 | 66.7 | 34.47 | -560.32 | 53.98 | 80.94 | -47.25 | 0.95 | 11.36 | 6.64 | 12.97 |
| Debt/Equity(x) | -9.73 | -4.55 | -2.99 | -1.06 | -0.82 | -0.77 | -0.72 | -0.68 | -0.65 | -0.63 | -0.6 |
| Current Ratio(x) | 0.24 | 0.09 | 0.06 | 0.05 | 0.05 | 0.04 | 0.04 | 0.02 | 0.01 | 0.01 | 0.01 |
| Quick Ratio(x) | 0.17 | 0.06 | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 |
| Interest Cover(x) | -1.68 | -124.67 | -79.43 | -1.82 | -0.3 | -28.56 | -497.09 | -442.18 | -370.44 | -1836.38 | -5898.38 |
| Total Debt/Mcap(x) | 18.77 | 42.68 | 106.25 | 51.16 | 42.35 | 45.18 | 47.39 | 56.86 | 170.85 | 69.64 | 0 |
| # | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 47.01 | 47.01 | 47.01 | 47.01 | 47.01 | 47.01 | 47.01 | 47.01 | 47.01 | 47.01 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 52.99 | 52.99 | 52.99 | 52.99 | 52.99 | 52.99 | 52.99 | 52.99 | 52.99 | 52.99 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 | 1.12 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.26 | 1.26 | 1.26 | 1.26 | 1.26 | 1.26 | 1.26 | 1.26 | 1.26 | 1.26 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.38 | 2.38 | 2.38 | 2.38 | 2.38 | 2.38 | 2.38 | 2.38 | 2.38 | 2.38 |
* The pros and cons are machine generated.
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