Parin Furniture

₹168.5 0 | 0%

WEBSITE BSE:0 NSE : 17 May, 00:00

Market Cap ₹187 Cr.

Stock P/E 0.0

P/B 3.4

Current Price ₹168.5

Book Value ₹ 50

Face Value 10

52W High ₹168.8

Dividend Yield 0%

52W Low ₹ 64.6

Edit Ratio

Parin Furniture Research see more...

Overview Inc. Year: 2006Industry: Household & Personal Products

Parin Furniture Limited is a publicly listed company that has carved a niche in the furniture manufacturing industry. Located in Rajkot, Gujarat, the company offers a wide array of products including living room, dining, bedroom furniture, and more. The company’s leadership includes Umesh Dhirajlal Nandani and Parin Umeshbhai Nandani, who have been instrumental in guiding Parin Furniture towards its current market position. The promoter group holds a significant stake in the company, with Deven Dipesh Nandani at 24.17%, Parin U Nandani at 12.07%, and other family members contributing to the promoter shareholding, ensuring a stable management structure and vested interest in the company’s growth. Parin Furniture prides itself on its strong network of dealers and showrooms, boasting 356 dealers and 90 showrooms, along with 274 corporate clients and a presence in 434 countries through partnerships.

Parin Furniture Share Price

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Peer Comparison

Parin Furniture Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Parin Furniture Profit & Loss

#(Fig in Cr.)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Net Sales	65	71	67	84	77	81
Other Income	0	0	1	1	1	1
Total Income	65	72	68	84	78	82
Total Expenditure	55	62	58	72	66	72
Operating Profit	10	10	9	12	11	10
Interest	3	3	3	4	4	4
Depreciation	1	1	1	2	2	2
Exceptional Income / Expenses	0	0	0	0	0	0
Profit Before Tax	6	6	5	7	6	5
Provision for Tax	2	2	2	2	2	1
Profit After Tax	4	4	4	5	4	3
Adjustments	-0	-0	-0	-0	-0	-0
Profit After Adjustments	4	4	4	5	4	3
Adjusted Earnings Per Share	4.6	3.7	3.4	4.2	3.7	2.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	5%	7%	4%	0%
Operating Profit CAGR	-9%	4%	0%	0%
PAT CAGR	-25%	-9%	-6%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	89%	52%	19%	NA%
ROE Average	6%	8%	10%	12%
ROCE Average	8%	11%	12%	14%

Parin Furniture Balance Sheet

#(Fig in Cr.)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	17	40	44	48	52	56
Minority's Interest	0	0	0	0	0	0
Borrowings	15	3	11	13	14	8
Other Non-Current Liabilities	0	1	1	1	1	1
Total Current Liabilities	25	21	44	41	46	79
Total Liabilities	57	65	99	104	114	144
Fixed Assets	6	5	8	12	11	10
Other Non-Current Assets	2	3	3	5	2	2
Total Current Assets	49	55	87	86	100	132
Total Assets	57	65	99	104	114	144

Parin Furniture Cash Flow

#(Fig in Cr.)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	2	3	4	3	3
Cash Flow from Operating Activities	2	5	-4	2	3	-1
Cash Flow from Investing Activities	-1	-0	-4	-5	-0	-0
Cash Flow from Financing Activities	-1	-4	9	3	-4	4
Net Cash Inflow / Outflow	0	1	1	-0	-1	3
Closing Cash & Cash Equivalent	2	3	4	3	3	5

Parin Furniture Ratios

#	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	4.62	3.67	3.43	4.16	3.71	2.77
CEPS(Rs)	5.86	4.42	4.29	5.58	5.52	4.16
DPS(Rs)	0	0	0	0	0	0
Book NAV/Share(Rs)	20.62	34.86	38.55	42.97	46.93	49.96
Core EBITDA Margin(%)	14.52	13.01	13.07	14.22	13.37	11.29
EBIT Margin(%)	13.73	12.34	12.45	13.02	12.16	10.05
Pre Tax Margin(%)	8.66	8.6	8.07	8.48	7.42	5.61
PAT Margin (%)	5.81	5.76	5.72	5.54	5.41	3.8
Cash Profit Margin (%)	7.33	6.9	7.11	7.4	8.02	5.69
ROA(%)	6.64	6.75	4.67	4.58	3.8	2.39
ROE(%)	22.53	14.78	9.39	10.27	8.29	5.72
ROCE(%)	19.27	16.9	12.74	13.67	10.49	8.49
Receivable days	100.11	79.11	119.12	137.79	186.12	232
Inventory Days	159.95	166.6	233.21	208.58	228.86	255.56
Payable days	64.44	41.6	116.93	129.01	123.87	205.75
PER(x)	0	18.65	15.46	12.32	0	35.95
Price/Book(x)	0	1.96	1.37	1.19	0	1.99
Dividend Yield(%)	0	0	0	0	0	0
EV/Net Sales(x)	0.55	1.3	1.28	1.1	0.62	1.86
EV/Core EBITDA(x)	3.61	9.61	9.24	7.39	4.19	15.58
Net Sales Growth(%)	0	9.87	-5.9	25.13	-8.79	6.09
EBIT Growth(%)	0	-1.31	-4.99	30.82	-14.84	-12.25
PAT Growth(%)	0	8.78	-6.56	21.38	-11	-25.56
EPS Growth(%)	0	-20.58	-6.62	21.4	-10.9	-25.37
Debt/Equity(x)	1.76	0.49	0.71	0.81	0.74	0.83
Current Ratio(x)	1.99	2.67	1.99	2.09	2.17	1.67
Quick Ratio(x)	0.85	0.9	0.87	0.96	1.11	0.85
Interest Cover(x)	2.71	3.3	2.84	2.86	2.57	2.26
Total Debt/Mcap(x)	0	0.25	0.52	0.68	0	0.42

Parin Furniture Shareholding Pattern

#	Sep 2019	Mar 2020	Sep 2020	Mar 2021	Sep 2021	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024
Promoter	73.02	73.02	73.02	73.02	73.02	73.02	73.02	73.02	73.02	73.02
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	26.98	26.98	26.98	26.98	26.98	26.98	26.98	26.98	26.98	26.98
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2019	Mar 2020	Sep 2020	Mar 2021	Sep 2021	Mar 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024
Promoter	0.81	0.81	0.81	0.81	0.81	0.81	0.81	0.81	0.81	0.81
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
Others	0	0	0	0	0	0	0	0	0	0
Total	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11

Pros

Company has reduced debt.

Cons

Company has a low return on equity of 8% over the last 3 years.
Debtor days have increased from 123.87 to 205.75days.
Stock is trading at 3.4 times its book value.
The company has delivered a poor profit growth of -5% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.