GRP Ltd
GRP Ltd, established in 1974, is a manufacturer of reclaimed rubber from used tyres, upscaled polyamide from nylon waste and engineered products die-cut from end-of- life tyres. [1]
- Market Cap ₹ 1,020 Cr.
- Current Price ₹ 7,668
- High / Low ₹ 8,658 / 3,320
- Stock P/E 41.7
- Book Value ₹ 1,251
- Dividend Yield 0.22 %
- ROCE 15.4 %
- ROE 15.6 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 35.1% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.7%
Cons
- Stock is trading at 6.12 times its book value
- Company has a low return on equity of 10.2% over last 3 years.
- Company might be capitalizing the interest cost
* 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.
Peer comparison
Sector: Plantation & Plantation Products Industry: Miscellaneous
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
274 | 309 | 339 | 315 | 304 | 300 | 357 | 349 | 280 | 388 | 451 | 461 | |
242 | 273 | 317 | 286 | 278 | 281 | 332 | 330 | 263 | 364 | 426 | 411 | |
Operating Profit | 32 | 36 | 22 | 29 | 26 | 18 | 25 | 19 | 17 | 24 | 25 | 51 |
OPM % | 12% | 12% | 7% | 9% | 9% | 6% | 7% | 5% | 6% | 6% | 6% | 11% |
3 | 1 | 8 | -0 | 3 | 1 | 0 | 1 | 2 | 0 | 10 | -1 | |
Interest | 6 | 7 | 5 | 4 | 4 | 4 | 5 | 8 | 5 | 5 | 6 | 7 |
Depreciation | 10 | 12 | 15 | 14 | 14 | 14 | 13 | 14 | 13 | 12 | 13 | 12 |
Profit before tax | 18 | 18 | 11 | 10 | 11 | 1 | 7 | -2 | 1 | 7 | 15 | 30 |
Tax % | 34% | 39% | 19% | 24% | 35% | 197% | 26% | 232% | -127% | 23% | 9% | 25% |
12 | 11 | 9 | 8 | 7 | -1 | 5 | 3 | 2 | 6 | 14 | 23 | |
EPS in Rs | 87.90 | 81.38 | 66.53 | 59.33 | 51.68 | -5.63 | 39.98 | 22.28 | 12.53 | 43.20 | 104.63 | 169.80 |
Dividend Payout % | 17% | 20% | 17% | 17% | 19% | -22% | 20% | 25% | 20% | 21% | 16% | 22% |
Compounded Sales Growth | |
---|---|
10 Years: | 4% |
5 Years: | 5% |
3 Years: | 18% |
TTM: | 2% |
Compounded Profit Growth | |
---|---|
10 Years: | 8% |
5 Years: | 35% |
3 Years: | 224% |
TTM: | 81% |
Stock Price CAGR | |
---|---|
10 Years: | 19% |
5 Years: | 48% |
3 Years: | 90% |
1 Year: | 106% |
Return on Equity | |
---|---|
10 Years: | 6% |
5 Years: | 7% |
3 Years: | 10% |
Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
Reserves | 96 | 105 | 111 | 118 | 125 | 123 | 128 | 126 | 130 | 135 | 146 | 165 |
90 | 85 | 67 | 68 | 67 | 57 | 65 | 86 | 72 | 101 | 89 | 113 | |
49 | 52 | 53 | 50 | 51 | 48 | 52 | 56 | 44 | 59 | 50 | 63 | |
Total Liabilities | 237 | 242 | 233 | 237 | 244 | 230 | 247 | 269 | 248 | 296 | 287 | 342 |
139 | 136 | 130 | 132 | 134 | 126 | 122 | 122 | 110 | 122 | 103 | 160 | |
CWIP | 2 | 4 | 6 | 2 | 2 | 2 | 1 | 2 | 2 | 0 | 11 | 1 |
Investments | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 15 | 16 | 2 |
95 | 102 | 97 | 102 | 107 | 100 | 123 | 144 | 135 | 158 | 156 | 180 | |
Total Assets | 237 | 242 | 233 | 237 | 244 | 230 | 247 | 269 | 248 | 296 | 287 | 342 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
13 | 28 | 32 | 18 | 21 | 22 | 8 | 7 | 25 | 2 | 25 | ||
-32 | -14 | -8 | -13 | -16 | -7 | -9 | -11 | 1 | -38 | -5 | ||
6 | -14 | -24 | -5 | -6 | -15 | 4 | 8 | -20 | 23 | -19 | ||
Net Cash Flow | -13 | 1 | -1 | 0 | -2 | 1 | 3 | 4 | 5 | -13 | 0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 64 | 59 | 54 | 63 | 58 | 63 | 67 | 68 | 83 | 81 | 57 | 84 |
Inventory Days | 92 | 84 | 62 | 82 | 121 | 91 | 74 | 100 | 117 | 107 | 81 | 86 |
Days Payable | 52 | 47 | 42 | 46 | 42 | 42 | 46 | 50 | 43 | 50 | 27 | 42 |
Cash Conversion Cycle | 105 | 95 | 74 | 99 | 137 | 112 | 95 | 118 | 158 | 138 | 111 | 127 |
Working Capital Days | 59 | 60 | 49 | 64 | 82 | 78 | 82 | 93 | 118 | 104 | 88 | 100 |
ROCE % | 14% | 14% | 8% | 8% | 8% | 3% | 6% | 3% | 2% | 6% | 9% |
Documents
Announcements
- Board Meeting Outcome for Outcome Of Board Meeting 14h
- Quick Financial Results For Fourth Quarter And Financial Year Ended 2023-24 14h
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Earnings Call to discuss operational and financial performance for Q4 & FY 24 is scheduled to be held on Tuesday, 21st May, 2024 at 5: …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Earnings Call to discuss operational and financial performance for Q4 & FY 24 is scheduled to be held on Tuesday, 21st May 2024 at 5: …
- Board Meeting Intimation for To Consider The Audited Financial Results And Dividend For The Year Ended 31St March, 2024 9 May
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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Feb 2024TranscriptNotesPPT
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Nov 2023Transcript PPT
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Nov 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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Apr 2018TranscriptNotesPPT
Business Verticals
Reclaim Rubber - It produces high-quality reclaim rubber from end-of-life tires, tread peelings, natural rubber, and butyl tubes, molded rubber products for use in both, tire and non-tire rubber products.
Engineering plastics - It is a sustainable material solution provider for challenging engineering applications. Its sustainable solutions are based on unfilled, and glass-reinforced Polyamide 6, Polyamide 66, and Polybutylene terephthalate. [1]
Polymer composite- It is produced using 100% recycled rubber and plastic. The products are eco-friendly and are stronger and more durable than wood. The products are well suited for application in logistics, construction, oil & gas, aviation, marine, industrial, and agriculture sectors. [2]
Segment Wise Revenue Split
Reclaim Rubber - 91% in FY22 vs 93% in FY21
Other Segments - 9% in FY22 vs 7% in FY21 [3]