Eastern Silk Industries Ltd

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Eastern Silk Industries Ltd

₹ 1.80 -5.26%
06 Mar 2024
easternsilk.com BSE: 590022 NSE: EASTSILK
About

Incorporated in 1946, Eastern Silks Ltd manufactures silk fabrics and other related textile products[1]

Key Points

Business Overview:[1]
Company manufactures textile and allied products from yarns to premium fashionable fabrics

Website BSE NSE - BE
  • Market Cap ₹ 14.2 Cr.
  • Current Price ₹ 1.80
  • High / Low ₹ 3.45 / 1.80
  • Stock P/E
  • Book Value ₹ 8.11
  • Dividend Yield 0.00 %
  • ROCE -10.6 %
  • ROE -127 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Stock is trading at 0.22 times its book value
  • Debtor days have improved from 96.4 to 25.7 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -21.9% over past five years.
  • Contingent liabilities of Rs.8.28 Cr.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 100% of their holding.
  • Working capital days have increased from 232 days to 570 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.

Peer comparison

Sector: Textiles Industry: Textiles - Silk

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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
18.73 11.53 18.56 20.66 7.30 5.43 4.62 4.66 5.65 5.38 3.24 6.05 6.30
18.02 14.31 20.92 20.44 9.72 8.91 10.74 8.37 8.56 8.32 3.94 6.45 5.70
Operating Profit 0.71 -2.78 -2.36 0.22 -2.42 -3.48 -6.12 -3.71 -2.91 -2.94 -0.70 -0.40 0.60
OPM % 3.79% -24.11% -12.72% 1.06% -33.15% -64.09% -132.47% -79.61% -51.50% -54.65% -21.60% -6.61% 9.52%
0.35 0.45 0.41 0.26 0.29 0.31 0.59 0.41 0.40 0.42 0.18 0.59 0.68
Interest 0.00 0.00 1.12 0.00 0.00 0.00 1.12 0.00 0.00 0.00 0.04 0.00 0.00
Depreciation 0.99 0.99 1.04 0.87 0.67 0.72 0.70 0.57 0.67 0.86 0.86 0.60 0.57
Profit before tax 0.07 -3.32 -4.11 -0.39 -2.80 -3.89 -7.35 -3.87 -3.18 -3.38 -1.42 -0.41 0.71
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.99% 0.00% -61.97%
0.07 -3.32 -4.10 -0.40 -2.80 -3.89 -7.35 -3.87 -3.18 -3.38 -1.87 -0.41 1.15
EPS in Rs 0.01 -0.42 -0.52 -0.05 -0.35 -0.49 -0.93 -0.49 -0.40 -0.43 -0.24 -0.05 0.15
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
75.85 79.63 61.02 70.47 63.42 51.49 65.24 103.18 90.67 73.14 38.01 18.92 20.97
146.75 174.25 85.75 141.82 127.64 80.15 67.29 99.85 84.90 75.96 49.75 29.20 24.41
Operating Profit -70.90 -94.62 -24.73 -71.35 -64.22 -28.66 -2.05 3.33 5.77 -2.82 -11.74 -10.28 -3.44
OPM % -93.47% -118.82% -40.53% -101.25% -101.26% -55.66% -3.14% 3.23% 6.36% -3.86% -30.89% -54.33% -16.40%
18.11 22.41 10.43 63.61 120.38 59.63 0.80 4.66 1.22 1.14 1.42 1.42 1.87
Interest 46.67 48.56 2.35 0.30 1.36 1.17 1.19 1.19 1.19 1.17 1.15 0.04 0.04
Depreciation 17.82 15.68 20.23 13.79 10.66 8.76 7.18 5.74 4.76 4.02 2.96 2.97 2.89
Profit before tax -117.28 -136.45 -36.88 -21.83 44.14 21.04 -9.62 1.06 1.04 -6.87 -14.43 -11.87 -4.50
Tax % -18.70% 0.00% 0.00% 0.00% 0.16% 0.00% 0.10% 0.00% 0.00% 0.00% 0.00% 3.71%
-95.36 -136.45 -36.88 -21.83 44.06 21.03 -9.63 1.05 1.04 -6.87 -14.43 -12.30 -4.51
EPS in Rs -12.08 -17.28 -4.67 -2.76 5.58 2.66 -1.22 0.13 0.13 -0.87 -1.83 -1.56 -0.57
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: -13%
5 Years: -22%
3 Years: -41%
TTM: 3%
Compounded Profit Growth
10 Years: 7%
5 Years: -7%
3 Years: %
TTM: 75%
Stock Price CAGR
10 Years: -1%
5 Years: 4%
3 Years: -36%
1 Year: -33%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: -127%

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 15.79 15.79 15.79 15.79 15.79 15.79 15.79 15.79 15.79 15.79 15.79 15.79 15.79
Reserves 99.19 -38.00 -85.13 -106.96 -51.15 -29.92 -39.60 -39.05 -38.06 -44.66 -59.00 46.86 48.23
486.11 492.85 473.77 398.87 224.73 152.56 149.11 150.44 149.49 149.66 145.76 58.15 48.89
18.39 34.96 33.33 37.70 56.84 72.81 76.46 45.60 46.04 43.80 49.58 14.24 44.52
Total Liabilities 619.48 505.60 437.76 345.40 246.21 211.24 201.76 172.78 173.26 164.59 152.13 135.04 157.43
132.23 116.52 91.04 76.86 68.91 60.39 55.26 50.27 46.17 43.26 40.44 37.67 36.68
CWIP 3.51 4.08 0.06 1.30 0.00 0.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 3.26 0.00 0.00 0.00 0.02 0.02 0.03 0.03 0.04 0.05 0.04 0.05 0.05
480.48 385.00 346.66 267.24 177.28 150.66 146.47 122.48 127.05 121.28 111.65 97.32 120.70
Total Assets 619.48 505.60 437.76 345.40 246.21 211.24 201.76 172.78 173.26 164.59 152.13 135.04 157.43

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
4.55 44.69 25.39 88.63 145.12 69.50 5.34 2.76 2.00 1.19 3.44 8.63
-4.04 3.53 0.54 -2.39 -1.18 -0.16 -1.79 -0.83 -0.69 -1.30 -0.05 -0.41
-11.53 -34.35 -19.08 -82.65 -155.58 -72.17 -3.45 -1.95 -0.95 0.17 -3.90 -7.05
Net Cash Flow -11.02 13.87 6.85 3.60 -11.64 -2.83 0.10 -0.03 0.36 0.05 -0.51 1.17

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 1,497.92 1,007.13 1,097.45 589.32 264.63 178.64 179.48 77.93 99.75 117.62 145.87 25.66
Inventory Days 356.61 573.49 844.09 543.41 779.68 1,076.12 508.36 258.56 259.64 279.71 417.23 1,518.28
Days Payable 31.04 18.55 49.21 46.54 70.32 110.17 58.53 37.27 45.58 34.79 25.18 3.46
Cash Conversion Cycle 1,823.49 1,562.08 1,892.33 1,086.20 973.98 1,144.59 629.31 299.22 313.81 362.55 537.91 1,540.48
Working Capital Days 1,936.59 1,266.93 1,392.71 714.05 334.44 164.88 85.54 81.82 106.15 110.89 14.69 569.69
ROCE % -10.62% -15.98% -3.93% -21.79% -29.98% -22.50% -6.31% 1.81% 1.78% -4.37% -11.87% -10.59%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
51.28% 51.28% 51.28% 51.28% 51.28% 51.28% 51.28% 51.28% 51.28% 51.28% 51.28% 51.28%
1.92% 1.92% 1.92% 1.92% 1.92% 1.92% 1.92% 1.92% 1.92% 1.92% 1.92% 1.92%
46.80% 46.80% 46.80% 46.80% 46.80% 46.80% 46.80% 46.81% 46.81% 46.79% 46.79% 46.80%
No. of Shareholders 22,80826,39226,73326,78226,52826,23826,11225,47725,06926,27226,26826,271

* 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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