DFM Foods Ltd
DFM Foods Ltd. is in the business of manufacturing, selling, and marketing packaged snack foods and has been a leader in the space for over 25 years. It offers a complete range of products consisting of 18 distinct product variants (12 in namkeen segment and 6 in the snacks segment) that include bhujiya, daal, mixtures, and nut-mixes. [1]
The company sells its products under the brand name “CRAX”, “CURLS” “NATKHAT” & “FRITTS”. Crax was one of the earliest readymade snacks that were launched in India in 1984. [1]
The CRAX Namkeen range offers Aloo Bhujia, Navratan, Moong Dal, Matar Heeng Zeera, Khatta Meetha, Lacha Mixture, Corn Flakes, Mast Moongphali, and salted peanuts which are sold in several pack sizes. [2]
- Market Cap ₹ 2,321 Cr.
- Current Price ₹ 462
- High / Low ₹ /
- Stock P/E
- Book Value ₹ 25.9
- Dividend Yield 0.00 %
- ROCE -9.51 %
- ROE -15.0 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 17.8 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 10.2% over past five years.
- Company has a low return on equity of 6.05% over last 3 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.
Peer comparison
Sector: FMCG Industry: Food - Processing - Indian
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
120 | 169 | 225 | 263 | 289 | 390 | 342 | 425 | 484 | 508 | 524 | 554 | 603 | |
105 | 149 | 204 | 241 | 259 | 342 | 310 | 374 | 419 | 466 | 468 | 572 | 649 | |
Operating Profit | 15 | 20 | 21 | 23 | 31 | 47 | 32 | 51 | 65 | 42 | 56 | -17 | -46 |
OPM % | 12% | 12% | 9% | 9% | 11% | 12% | 9% | 12% | 13% | 8% | 11% | -3% | -8% |
1 | 3 | 3 | 1 | -2 | 2 | 5 | 4 | 4 | 7 | 7 | 8 | 4 | |
Interest | 2 | 4 | 9 | 8 | 6 | 6 | 4 | 10 | 11 | 10 | 11 | 9 | 9 |
Depreciation | 1 | 2 | 4 | 6 | 6 | 7 | 7 | 10 | 10 | 11 | 13 | 14 | 14 |
Profit before tax | 13 | 16 | 10 | 10 | 17 | 36 | 25 | 35 | 47 | 27 | 39 | -33 | -65 |
Tax % | 35% | 35% | 37% | 28% | 36% | 31% | 26% | 34% | 31% | 10% | 26% | -24% | |
8 | 10 | 6 | 7 | 11 | 25 | 18 | 23 | 33 | 24 | 29 | -25 | -49 | |
EPS in Rs | 1.66 | 2.07 | 1.26 | 1.42 | 2.20 | 5.01 | 3.69 | 4.65 | 6.54 | 4.87 | 5.71 | -4.92 | -9.68 |
Dividend Payout % | 24% | 24% | 40% | 35% | 23% | 20% | 27% | 21% | 19% | 0% | 18% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 13% |
5 Years: | 10% |
3 Years: | 5% |
TTM: | 11% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
TTM: | -439% |
Stock Price CAGR | |
---|---|
10 Years: | 23% |
5 Years: | 13% |
3 Years: | 16% |
1 Year: | % |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 13% |
3 Years: | 6% |
Last Year: | -15% |
Balance Sheet
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
Reserves | 13 | 20 | 24 | 28 | 36 | 55 | 75 | 92 | 119 | 135 | 168 | 143 | 120 |
16 | 66 | 67 | 51 | 50 | 57 | 98 | 93 | 93 | 91 | 80 | 91 | 112 | |
17 | 27 | 38 | 38 | 46 | 69 | 77 | 74 | 88 | 131 | 147 | 147 | 133 | |
Total Liabilities | 55 | 123 | 138 | 127 | 142 | 191 | 259 | 269 | 311 | 367 | 404 | 391 | 375 |
32 | 86 | 97 | 91 | 88 | 112 | 159 | 155 | 166 | 218 | 224 | 205 | 202 | |
CWIP | 0 | 3 | 0 | 0 | 0 | 1 | 0 | 4 | 6 | 13 | 18 | 34 | 29 |
Investments | 0 | 0 | 0 | 14 | 31 | 42 | 49 | 52 | 55 | 58 | 20 | 22 | 21 |
23 | 35 | 41 | 21 | 23 | 36 | 52 | 58 | 85 | 79 | 142 | 131 | 122 | |
Total Assets | 55 | 123 | 138 | 127 | 142 | 191 | 259 | 269 | 311 | 367 | 404 | 391 | 375 |
Cash Flows
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
14 | 17 | 22 | 20 | 26 | 59 | 19 | 34 | 63 | 42 | 39 | 4 | |
-14 | -52 | -13 | 9 | -18 | -54 | -53 | -13 | -48 | -14 | -24 | 1 | |
-7 | 33 | -8 | -27 | -10 | -2 | 32 | -21 | -13 | -21 | -22 | -4 | |
Net Cash Flow | -7 | -2 | 0 | 1 | -1 | 3 | -2 | 0 | 2 | 8 | -8 | 0 |
Ratios
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 4 |
Inventory Days | 21 | 45 | 33 | 33 | 38 | 23 | 34 | 34 | 28 | 29 | 31 | 34 |
Days Payable | 15 | 28 | 37 | 29 | 30 | 50 | 72 | 50 | 55 | 65 | 65 | 82 |
Cash Conversion Cycle | 6 | 17 | -5 | 4 | 8 | -26 | -38 | -16 | -27 | -37 | -31 | -44 |
Working Capital Days | -17 | -4 | -4 | -29 | -27 | -43 | -57 | -28 | -32 | -43 | -29 | -41 |
ROCE % | 43% | 30% | 20% | 22% | 28% | 38% | 19% | 24% | 29% | 16% | 20% | -10% |
Documents
Announcements
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Certificate Under Reg. 40(9) & 40(10) Of SEBI (LODR), Regulations, 2015
3 Apr 2023 - Certificate under SEBI Regulation 40(9) for FY 2023.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 3 Apr 2023
- Compliance Certificate Under Reg. 7(3) Of SEBI (LODR), Regulations, 2015 For The Period Ended March 31, 2023 3 Apr 2023
- Closure of Trading Window 31 Mar 2023
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 18 Mar 2023
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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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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Concalls
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Jul 2021TranscriptNotesPPT
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Jun 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Nov 2018TranscriptPPT
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May 2018TranscriptPPT
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Mar 2018TranscriptNotesPPT
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Feb 2018TranscriptNotesPPT
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May 2017TranscriptPPT
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Jan 2017TranscriptPPT
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Nov 2016TranscriptPPT
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Aug 2016TranscriptPPT
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May 2016TranscriptPPT
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Feb 2016TranscriptPPT
Brand Presence
The company markets its products under the flagship brand ‘CRAX’ which has strong brand recognition in the snacks category in the country. Its brand CRAX was one of the first ready-made snacks brands to be introduced in India in 1984. During FY22, DFM gained about 1.5% market share on a pan India basis in the extruded snacks category. [1]