Surat Trade & Merchantile Ltd
Surat Textile Mills Ltd is a textile manufacturing company and is part of the Garden Group. The Co. manufactures polyester chips and differentiated partially oriented yarn [1] [2] The manufacturing business has been discontinued since FY23. The company commenced a new business of trading of certain commodities viz. Metal, Energy & Agricultural products
- Market Cap ₹ 193 Cr.
- Current Price ₹ 8.68
- High / Low ₹ 13.9 / 7.27
- Stock P/E 16.2
- Book Value ₹ 9.24
- Dividend Yield 0.00 %
- ROCE 6.71 %
- ROE 4.52 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Stock is trading at 0.94 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 13.3% over last 3 years.
- Earnings include an other income of Rs.21.8 Cr.
- Promoter holding has decreased over last 3 years: -6.53%
- Working capital days have increased from 358 days to 595 days
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
217 | 182 | 127 | 132 | 139 | 201 | 216 | 180 | 0 | 0 | 25 | 61 | 68 | |
207 | 178 | 124 | 126 | 126 | 187 | 208 | 173 | 5 | 5 | 30 | 66 | 74 | |
Operating Profit | 11 | 3 | 3 | 6 | 13 | 14 | 9 | 7 | -5 | -5 | -5 | -6 | -6 |
OPM % | 5% | 2% | 3% | 5% | 9% | 7% | 4% | 4% | -20% | -9% | -8% | ||
4 | 1 | 2 | 0 | 4 | 3 | 4 | 5 | 19 | 1 | 69 | 19 | 22 | |
Interest | 0 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
Depreciation | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Profit before tax | 13 | 2 | 4 | 5 | 15 | 15 | 11 | 11 | 14 | -5 | 63 | 13 | 16 |
Tax % | 44% | 32% | 28% | -33% | -9% | 45% | -13% | 28% | -1% | -11% | 1% | 33% | |
8 | 1 | 3 | 6 | 17 | 8 | 12 | 8 | 14 | -4 | 62 | 9 | 12 | |
EPS in Rs | 0.34 | 0.05 | 0.12 | 0.28 | 0.75 | 0.37 | 0.55 | 0.35 | 0.65 | -0.19 | 2.81 | 0.41 | 0.54 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | -10% |
5 Years: | -22% |
3 Years: | % |
TTM: | 75% |
Compounded Profit Growth | |
---|---|
10 Years: | 23% |
5 Years: | -5% |
3 Years: | -14% |
TTM: | 72% |
Stock Price CAGR | |
---|---|
10 Years: | 13% |
5 Years: | 44% |
3 Years: | -3% |
1 Year: | -2% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 12% |
3 Years: | 13% |
Last Year: | 5% |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 |
Reserves | 55 | 56 | 58 | 65 | 82 | 90 | 99 | 103 | 116 | 112 | 174 | 183 |
1 | 6 | 2 | 1 | 0 | 2 | 0 | 0 | 1 | 0 | 0 | 2 | |
42 | 36 | 17 | 15 | 15 | 26 | 21 | 10 | 5 | 6 | 2 | 5 | |
Total Liabilities | 120 | 120 | 99 | 103 | 119 | 140 | 142 | 135 | 143 | 141 | 199 | 212 |
20 | 20 | 10 | 8 | 17 | 17 | 16 | 16 | 12 | 12 | 12 | 13 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 13 | 13 | 13 | 33 | 31 | 44 | 66 | 38 | 71 | 90 | 138 | 135 |
87 | 86 | 76 | 62 | 71 | 79 | 61 | 81 | 60 | 38 | 49 | 63 | |
Total Assets | 120 | 120 | 99 | 103 | 119 | 140 | 142 | 135 | 143 | 141 | 199 | 212 |
Cash Flows
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
18 | -18 | 2 | 20 | -0 | 27 | 5 | -1 | -10 | -8 | -6 | -23 | |
-12 | 8 | 1 | -21 | 2 | -12 | -17 | 29 | -30 | -11 | -55 | 24 | |
-0 | 4 | -5 | 1 | -1 | 0 | 2 | -14 | -0 | 1 | 0 | -0 | |
Net Cash Flow | 5 | -6 | -2 | -0 | 1 | 16 | -11 | 14 | -40 | -18 | -61 | 0 |
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 | 6 | 28 | 32 | 4 | 20 | 2 | 7 | 7 | 0 | 0 | ||
Inventory Days | 108 | 123 | 152 | 207 | 55 | 40 | 33 | 20 | 0 | 85 | ||
Days Payable | 42 | 34 | 4 | 5 | 12 | 38 | 40 | 17 | 2 | |||
Cash Conversion Cycle | 73 | 117 | 180 | 207 | 64 | 4 | -0 | 9 | 0 | 83 | ||
Working Capital Days | 38 | 69 | 130 | 120 | 49 | 7 | 7 | 22 | 121 | 595 | ||
ROCE % | 13% | 4% | 4% | 6% | 14% | 14% | 10% | 9% | 11% | 0% | 2% | 7% |
Documents
Announcements
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Board Meeting Intimation for Approval Of Unaudited Financial Results
30 Oct - Board meeting on 13th November for financial results.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Oct - Compliance certificate under SEBI regulations for dematerialization.
- Closure of Trading Window 24 Sep
-
Disclosure Under Regulation 7(2)(B) Of The SEBI (Prohibition Of Insider Trading) Regulations, 2015 As Amended.
19 Sep - Disclosure of inter-se transfer of equity shares.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 18 Sep
Annual reports
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
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Financial Year 2010
from bse
Product Offerings
The Co. manufactures polyester chips, partially oriented yarn, mono-ethylene glycol, Purified terephthalic acid, among other chips contributing 100% of Revenue [1]The company has discontinued these operations from FY23