WEBSITE BSE:503804 NSE : SHRI DINESH 18 May, 12:50
Market Cap ₹274 Cr.
Stock P/E 5.0
P/B 1.4
Current Price ₹488.5
Book Value ₹ 354.3
Face Value 10
52W High ₹570
Dividend Yield 2.05%
52W Low ₹ 461
Shri Dinesh Mills Ltd is engaged in imparting woolen and worsted fabric, and paper makers' felt. It is a composite textile company manufacturing machine clothing and suiting. The Company manufactures and markets merchandise under the emblem call dinesh. Its press felts encompass Dinflo, Dinvent and Dinply. Dinflo are artificial Batt-On-Mesh category of felts in single layer base production. Dinvent are double layer felts. Dinply are synthetic Batt-On-Mesh category of felts in over two, three and four layer base construction using Twin-Base Laminated Technology. Its dryer displays consist of hi-contact mono (everyday), hi-contact mono (uni-screen) and spiral dryer fabric. The Company's fiber and asbestos felts encompass dinasorb-pipe felts and dinasorb-sheet felts. It also offers filter fabrics. The Company's subsidiary, Dinesh Remedies Ltd., is engaged in production of empty hard gelatin capsules.
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| #(Fig in Cr.) | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 23 | 24 | 25 | 26 | 25 | 23 | 24 | 24 | 25 | 25 |
| Other Income | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 2 | 3 |
| Total Income | 24 | 25 | 26 | 27 | 25 | 25 | 27 | 26 | 28 | 28 |
| Total Expenditure | 18 | 19 | 22 | 21 | 21 | 22 | 23 | 22 | 23 | 22 |
| Operating Profit | 6 | 6 | 4 | 6 | 4 | 4 | 4 | 5 | 4 | 6 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 20 | 0 | 13 | 0 | 5 | 0 | 5 | 43 |
| Profit Before Tax | 4 | 5 | 23 | 5 | 15 | 2 | 7 | 3 | 8 | 47 |
| Provision for Tax | 1 | 1 | 3 | 0 | 3 | 1 | 1 | 2 | 2 | 9 |
| Profit After Tax | 4 | 4 | 20 | 4 | 12 | 1 | 6 | 1 | 6 | 37 |
| Adjustments | -1 | -1 | -0 | -1 | -1 | 0 | 1 | 1 | 1 | 1 |
| Profit After Adjustments | 3 | 3 | 20 | 3 | 11 | 1 | 7 | 2 | 7 | 39 |
| Adjusted Earnings Per Share | 5.8 | 6.1 | 34.9 | 6.1 | 20.1 | 2.4 | 12.8 | 3.9 | 12.6 | 69 |
| #(Fig in Cr.) | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 105 | 106 | 100 | 99 | 96 | 93 | 89 | 71 | 74 | 90 | 98 | 98 |
| Other Income | 2 | 4 | 3 | 3 | 4 | 4 | 4 | 9 | 5 | 5 | 7 | 11 |
| Total Income | 108 | 110 | 104 | 102 | 101 | 97 | 94 | 79 | 79 | 95 | 105 | 109 |
| Total Expenditure | 87 | 87 | 86 | 87 | 87 | 89 | 82 | 71 | 61 | 73 | 87 | 90 |
| Operating Profit | 21 | 23 | 17 | 15 | 13 | 8 | 11 | 8 | 18 | 22 | 18 | 19 |
| Interest | 5 | 4 | 4 | 3 | 3 | 2 | 2 | 1 | 1 | 1 | 2 | 2 |
| Depreciation | 11 | 12 | 9 | 9 | 9 | 9 | 8 | 7 | 6 | 5 | 6 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | -5 | -3 | -0 | 0 | 20 | 18 | 53 |
| Profit Before Tax | 6 | 7 | 4 | 3 | 1 | -8 | -1 | 0 | 12 | 37 | 29 | 65 |
| Provision for Tax | 1 | 2 | -0 | -0 | -1 | -1 | -1 | -1 | 1 | 4 | 5 | 14 |
| Profit After Tax | 5 | 5 | 5 | 3 | 2 | -7 | -0 | 1 | 11 | 33 | 24 | 50 |
| Adjustments | -1 | -0 | -0 | -0 | 0 | 1 | 0 | 0 | -1 | -3 | -0 | 4 |
| Profit After Adjustments | 4 | 5 | 5 | 3 | 2 | -6 | -0 | 1 | 10 | 30 | 24 | 55 |
| Adjusted Earnings Per Share | 7.4 | 9.6 | 9.3 | 6 | 4.9 | -12.4 | -0.1 | 2.1 | 17.5 | 53.6 | 42.4 | 98.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 9% | 11% | 1% | -1% |
| Operating Profit CAGR | -18% | 31% | 18% | -2% |
| PAT CAGR | -27% | 188% | 0% | 17% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -3% | 2% | 33% | 20% |
| ROE Average | 16% | 18% | 11% | 6% |
| ROCE Average | 19% | 20% | 12% | 8% |
| #(Fig in Cr.) | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 95 | 98 | 98 | 100 | 102 | 96 | 98 | 97 | 111 | 138 | 157 |
| Minority's Interest | 8 | 9 | 9 | 9 | 9 | 8 | 8 | 8 | 9 | 11 | 11 |
| Borrowings | 24 | 19 | 16 | 16 | 10 | 6 | 2 | 1 | 2 | 6 | 12 |
| Other Non-Current Liabilities | 17 | 15 | 13 | 12 | 10 | 10 | 8 | 6 | 5 | 6 | 9 |
| Total Current Liabilities | 30 | 30 | 27 | 27 | 30 | 28 | 31 | 24 | 21 | 24 | 28 |
| Total Liabilities | 175 | 171 | 162 | 164 | 160 | 147 | 146 | 137 | 147 | 186 | 218 |
| Fixed Assets | 86 | 84 | 70 | 74 | 66 | 58 | 54 | 45 | 39 | 44 | 49 |
| Other Non-Current Assets | 12 | 8 | 7 | 2 | 2 | 2 | 2 | 3 | 3 | 9 | 15 |
| Total Current Assets | 77 | 79 | 86 | 89 | 92 | 87 | 90 | 89 | 105 | 133 | 153 |
| Total Assets | 175 | 171 | 162 | 164 | 160 | 147 | 146 | 137 | 147 | 186 | 218 |
| #(Fig in Cr.) | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 14 | 15 | 23 | 31 | 32 | 4 | 3 | 4 | 2 | 2 | 5 |
| Cash Flow from Operating Activities | 15 | 22 | 17 | 10 | 15 | 6 | 16 | 3 | 10 | 13 | 8 |
| Cash Flow from Investing Activities | -4 | -4 | 4 | -6 | -33 | -0 | -13 | -3 | -12 | -11 | -11 |
| Cash Flow from Financing Activities | -10 | -9 | -12 | -3 | -11 | -6 | -2 | -2 | 2 | 1 | 1 |
| Net Cash Inflow / Outflow | 1 | 8 | 9 | 1 | -29 | -0 | 1 | -2 | 0 | 3 | -2 |
| Closing Cash & Cash Equivalent | 15 | 23 | 31 | 33 | 4 | 3 | 4 | 2 | 2 | 5 | 3 |
| # | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 7.37 | 9.58 | 9.31 | 5.98 | 4.85 | -12.39 | -0.12 | 2.07 | 17.53 | 53.61 | 42.38 |
| CEPS(Rs) | 29.73 | 33.57 | 27.67 | 23.91 | 22.26 | 3.58 | 15.23 | 15.14 | 29.59 | 67.57 | 52.98 |
| DPS(Rs) | 1.8 | 1.8 | 1.8 | 1.5 | 1.5 | 1.5 | 1.8 | 3 | 5 | 7.5 | 10 |
| Book NAV/Share(Rs) | 180.88 | 192.05 | 192.23 | 196.4 | 200.53 | 187.27 | 184.7 | 180.89 | 197.41 | 245.89 | 280.44 |
| Core EBITDA Margin(%) | 16.69 | 17.07 | 12.9 | 11.21 | 8.85 | 4.09 | 8.05 | -0.25 | 18.33 | 18.68 | 11.16 |
| EBIT Margin(%) | 9.11 | 9.84 | 7.55 | 5.75 | 4.09 | -5.89 | 0.48 | 1.35 | 16.85 | 41.31 | 31.14 |
| Pre Tax Margin(%) | 4.94 | 6.03 | 4.19 | 2.64 | 1.26 | -8.13 | -1.46 | 0.19 | 15.74 | 40.6 | 29.61 |
| PAT Margin (%) | 4.03 | 4.65 | 4.57 | 2.98 | 2.15 | -7.23 | -0.29 | 1.05 | 14.4 | 36.25 | 24.35 |
| Cash Profit Margin (%) | 13.96 | 14.97 | 13.14 | 11.5 | 11.02 | 1.93 | 8.86 | 11.38 | 22.34 | 41.98 | 30.22 |
| ROA(%) | 2.56 | 3.07 | 2.94 | 1.93 | 1.36 | -4.43 | -0.18 | 0.52 | 7.53 | 19.67 | 11.86 |
| ROE(%) | 4.82 | 5.5 | 5.01 | 3.19 | 2.19 | -6.9 | -0.27 | 0.77 | 10.34 | 26.33 | 16.22 |
| ROCE(%) | 7.71 | 8.59 | 6.44 | 4.99 | 3.5 | -4.92 | 0.41 | 0.92 | 11.43 | 28.54 | 19.34 |
| Receivable days | 51.43 | 57.75 | 63.91 | 63.26 | 56.94 | 57.45 | 58.77 | 64.36 | 55.18 | 49.57 | 53.33 |
| Inventory Days | 133.71 | 119.44 | 110.28 | 113.3 | 126.05 | 129.62 | 107.76 | 96.64 | 75.92 | 71.12 | 64.58 |
| Payable days | 43.49 | 35.71 | 47.86 | 56.79 | 65.54 | 68.5 | 87.41 | 95.85 | 95.82 | 88.86 | 80.01 |
| PER(x) | 9.88 | 8.55 | 9.98 | 18.92 | 27.33 | 0 | 0 | 43.48 | 20.15 | 13.72 | 12.2 |
| Price/Book(x) | 0.4 | 0.43 | 0.48 | 0.58 | 0.66 | 0.88 | 0.67 | 0.5 | 1.79 | 2.99 | 1.84 |
| Dividend Yield(%) | 2.47 | 2.2 | 1.94 | 1.33 | 1.13 | 0.91 | 1.45 | 3.33 | 1.42 | 1.02 | 1.93 |
| EV/Net Sales(x) | 0.57 | 0.48 | 0.39 | 0.48 | 0.83 | 0.99 | 0.75 | 0.73 | 2.71 | 4.59 | 3.06 |
| EV/Core EBITDA(x) | 2.81 | 2.23 | 2.29 | 3.13 | 5.97 | 11.14 | 5.91 | 6.06 | 10.92 | 18.77 | 16.94 |
| Net Sales Growth(%) | 5.13 | 0.93 | -5.9 | -1.28 | -2.5 | -3.86 | -3.46 | -21.09 | 5.1 | 21.58 | 8.88 |
| EBIT Growth(%) | -20.92 | 9.49 | -27.91 | -24.82 | -30.92 | -232 | 107.82 | 119.68 | 1212.38 | 198.11 | -17.92 |
| PAT Growth(%) | -29.46 | 17.1 | -7.79 | -35.68 | -29.75 | -407.92 | 96.17 | 384.52 | 1340.98 | 206.1 | -26.86 |
| EPS Growth(%) | -29.72 | 29.94 | -2.77 | -35.83 | -18.85 | -355.49 | 99.07 | 1897.65 | 746.47 | 205.85 | -20.95 |
| Debt/Equity(x) | 0.37 | 0.33 | 0.24 | 0.22 | 0.16 | 0.12 | 0.08 | 0.06 | 0.05 | 0.05 | 0.09 |
| Current Ratio(x) | 2.54 | 2.62 | 3.22 | 3.23 | 3.09 | 3.08 | 2.93 | 3.63 | 4.96 | 5.47 | 5.54 |
| Quick Ratio(x) | 1.17 | 1.51 | 2.04 | 1.99 | 1.85 | 2.02 | 2.19 | 3.03 | 4.19 | 4.69 | 4.96 |
| Interest Cover(x) | 2.19 | 2.59 | 2.25 | 1.85 | 1.44 | -2.62 | 0.25 | 1.16 | 15.23 | 57.69 | 20.3 |
| Total Debt/Mcap(x) | 0.93 | 0.77 | 0.5 | 0.39 | 0.24 | 0.14 | 0.11 | 0.12 | 0.03 | 0.02 | 0.05 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 49.79 | 49.79 | 49.79 | 49.79 | 49.79 | 49.79 | 49.79 | 49.79 | 49.79 | 49.79 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 |
| Public | 50.15 | 50.15 | 50.15 | 50.15 | 50.15 | 50.15 | 50.15 | 50.15 | 50.15 | 50.15 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 |
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