Premier Synthetics Ltd

₹ 24.4 -2.52%

26 Dec - close price

About

Incorporated in 1970, Premier Synthetics Ltd manufactures and sells Cotton Yarn^[1]

Key Points

Business Overview:^[1]^[2]
Company has spinning plant for manufacturing coarse count cotton yarn from raw material consisting cotton and cotton waste. The end use of such cotton yarn is in denim industries and towel industries. Company follows order-based production policy wherein 50-60% of the goods are produced against orders which minimizes inventory risk

Website BSE

Market Cap ₹ 11.2 Cr.
Current Price ₹ 24.4
High / Low ₹ 34.6 / 13.4
Stock P/E
Book Value ₹ 56.5
Dividend Yield 0.00 %
ROCE -8.44 %
ROE -14.2 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Stock is trading at 0.43 times its book value
Debtor days have improved from 42.0 to 20.6 days.

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -51.9%
Company has a low return on equity of -2.13% 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: Textiles Industry: Textiles - Cotton/Blended

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	11.87	14.58	19.01	17.60	9.81	12.19	13.08	0.00	19.03	9.21	7.99	8.50	2.48
	11.01	14.52	17.83	17.08	9.78	13.08	12.05	0.00	19.12	10.72	7.65	8.93	2.74
Operating Profit	0.86	0.06	1.18	0.52	0.03	-0.89	1.03	0.00	-0.09	-1.51	0.34	-0.43	-0.26
OPM %	7.25%	0.41%	6.21%	2.95%	0.31%	-7.30%	7.87%		-0.47%	-16.40%	4.26%	-5.06%	-10.48%
	0.21	-0.02	0.37	0.02	0.04	0.13	1.24	-0.28	0.68	0.09	-0.90	0.80	0.46
Interest	0.28	-0.29	0.09	0.09	0.12	0.11	0.13	0.00	0.14	0.09	0.06	0.08	0.10
Depreciation	0.19	0.19	0.20	0.20	0.19	0.19	0.19	0.00	0.10	0.13	0.00	0.00	0.00
Profit before tax	0.60	0.14	1.26	0.25	-0.24	-1.06	1.95	-0.28	0.35	-1.64	-0.62	0.29	0.10
Tax %	0.00%	0.00%	6.35%	0.00%	0.00%	0.00%	45.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.59	0.14	1.18	0.25	-0.24	-1.06	1.07	-0.28	0.34	-1.65	-0.62	0.29	0.10
EPS in Rs	1.28	0.30	2.57	0.54	-0.52	-2.31	2.33	-0.61	0.74	-3.59	-1.35	0.63	0.22
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	18.31	22.36	16.17	13.97	9.59	46.34	46.36	42.92	24.36	58.32	52.68	52.74	28.18
	14.28	17.24	11.95	10.56	7.30	45.31	44.48	42.16	22.27	55.44	51.96	55.53	30.04
Operating Profit	4.03	5.12	4.22	3.41	2.29	1.03	1.88	0.76	2.09	2.88	0.72	-2.79	-1.86
OPM %	22.01%	22.90%	26.10%	24.41%	23.88%	2.22%	4.06%	1.77%	8.58%	4.94%	1.37%	-5.29%	-6.60%
	10.56	-0.19	-0.51	-0.45	0.00	0.90	0.91	0.18	0.24	0.76	1.42	1.92	0.45
Interest	0.45	1.73	1.00	0.04	0.01	0.13	0.08	0.11	0.02	0.28	0.46	0.40	0.33
Depreciation	2.64	2.55	2.56	2.55	1.70	0.64	0.64	0.73	0.73	0.77	0.77	0.50	0.13
Profit before tax	11.50	0.65	0.15	0.37	0.58	1.16	2.07	0.10	1.58	2.59	0.91	-1.77	-1.87
Tax %	-1.57%	-306.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.09%	96.70%	24.86%
	11.68	2.64	0.15	0.36	0.58	1.16	2.07	0.11	1.59	2.50	0.02	-2.21	-1.88
EPS in Rs	32.06	7.25	0.41	0.99	1.59	2.53	4.51	0.24	3.46	5.44	0.04	-4.81	-4.09
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	9%
5 Years:	3%
3 Years:	29%
TTM:	-36%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-56%

Stock Price CAGR
10 Years:	%
5 Years:	23%
3 Years:	0%
1 Year:	-8%

Return on Equity
10 Years:	2%
5 Years:	0%
3 Years:	-2%
Last Year:	-14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	3.64	3.64	3.64	3.64	3.64	4.59	4.59	4.59	4.59	4.59	4.59	4.59	4.59
Reserves	-8.66	8.98	1.26	1.15	1.72	19.70	21.74	26.59	28.00	30.32	23.66	21.23	21.38
	44.58	29.12	31.02	10.90	13.38	17.12	19.38	9.10	9.37	13.73	10.48	6.57	8.28
	8.80	13.26	8.90	18.84	19.48	2.94	2.29	1.86	1.07	1.31	3.41	2.61	2.22
Total Liabilities	48.36	55.00	44.82	34.53	38.22	44.35	48.00	42.14	43.03	49.95	42.14	35.00	36.47
	24.11	36.41	28.94	26.40	24.71	24.81	24.87	24.08	24.10	23.57	19.56	16.70	16.70
CWIP	0.00	0.00	0.01	0.00	0.23	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	5.47	5.45	3.75	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	18.78	13.14	12.12	8.13	13.28	19.54	23.13	18.06	18.93	26.38	22.58	18.30	19.77
Total Assets	48.36	55.00	44.82	34.53	38.22	44.35	48.00	42.14	43.03	49.95	42.14	35.00	36.47

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1.68	4.86	8.34	-1.37	-5.12	-1.18	3.88	0.97	-2.34	2.16	3.28
	16.51	6.06	3.20	-0.24	-1.12	-1.09	-0.07	-0.80	-0.58	-0.01	1.06
	-18.21	-10.93	-11.55	1.82	6.12	2.20	-3.80	0.17	4.19	-3.77	-4.32
Net Cash Flow	-0.02	-0.01	-0.01	0.21	-0.12	-0.07	0.01	0.34	1.27	-1.61	0.02

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	242.40	70.19	113.77	1.05	35.78	55.21	88.26	79.51	103.84	50.32	55.01	20.62
Inventory Days		128.79	120.00		2,860.41	47.94	43.18	36.70	98.11	51.59	65.11	52.78
Days Payable		104.84	340.00		1,892.04	19.47	17.31	14.41	19.44	9.03	8.33	3.21
Cash Conversion Cycle	242.40	94.14	-106.23	1.05	1,004.14	83.69	114.13	101.80	182.51	92.88	111.79	70.19
Working Capital Days	181.80	91.74	-288.70	-16.72	135.11	83.89	113.77	97.97	194.94	118.85	124.99	102.77
ROCE %	3.25%	6.57%	4.38%	3.68%	3.43%	4.29%	4.04%	0.19%	3.77%	5.58%	0.39%	-8.44%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	48.03%	48.03%	48.03%	48.03%	48.03%	48.03%	48.03%	48.03%	48.03%	48.03%	48.03%	48.03%
	3.43%	3.43%	3.43%	3.43%	3.43%	3.43%	3.43%	3.43%	3.43%	3.43%	3.43%	3.43%
	48.54%	48.54%	48.54%	48.54%	48.54%	48.54%	48.55%	48.54%	48.54%	48.54%	48.54%	48.55%
No. of Shareholders	3,667	3,659	3,568	3,484	3,416	3,375	3,384	3,385	3,322	3,273	3,305	3,581

	Oct 1970	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	48.03%	64.40%	51.08%	48.03%	48.03%	48.03%	48.03%	48.03%	48.03%	48.03%
	3.45%	4.29%	4.03%	4.03%	4.05%	4.05%	3.43%	3.43%	3.43%	3.43%
	0.00%	0.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	48.52%	30.52%	44.89%	47.94%	47.92%	47.92%	48.54%	48.54%	48.54%	48.55%
No. of Shareholders	3,751	431	550	4,656	4,323	3,837	3,659	3,375	3,273	3,581

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Premier Synthetics Ltd

Premier Synthetics Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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