Pioneer Embroideries Ltd

₹ 45.5 -0.07%

22 Nov - close price

pelhakoba.com BSE: 514300 NSE: PIONEEREMB

About

Incorporated in 1991, Pioneer Embroideries Ltd is a manufacturer of Special Polyester Filament Yarn (SPFY), Embroidery & Lace Products^[1]

Key Points

Business Overview:^[1]^[2]
PEL manufactures and exports specialized polyester filament yarn, embroidered laces, braided laces, torchon /bobbin laces, raschel laces and embroidered fabrics. It is associated with a retail brand for embroidered clothing brands Hakoba and Slikolite, and has 3 Lac+ designs. Company’s yarns find applications in the non-apparel segment, such as carpets, bath mats, upholstery fabrics, and curtains

Website BSE NSE

Market Cap ₹ 134 Cr.
Current Price ₹ 45.5
High / Low ₹ 67.0 / 37.0
Stock P/E 39.3
Book Value ₹ 51.2
Dividend Yield 0.00 %
ROCE 5.52 %
ROE 2.46 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.89 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 4.18% over past five years.
Promoter holding is low: 32.7%
Company has a low return on equity of 4.08% over last 3 years.
Promoters have pledged 52.6% of their holding.

* 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 - Products

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	76.36	75.53	74.34	85.92	70.34	65.97	74.41	73.72	82.51	85.32	94.65	96.40	93.81
	68.71	69.09	70.15	83.60	68.09	63.45	69.75	69.58	77.95	79.34	87.26	90.15	86.53
Operating Profit	7.65	6.44	4.19	2.32	2.25	2.52	4.66	4.14	4.56	5.98	7.39	6.25	7.28
OPM %	10.02%	8.53%	5.64%	2.70%	3.20%	3.82%	6.26%	5.62%	5.53%	7.01%	7.81%	6.48%	7.76%
	0.17	0.47	0.71	0.71	10.66	0.53	0.35	0.34	0.77	0.57	2.30	0.84	0.82
Interest	0.65	0.75	1.13	0.85	1.09	0.71	0.99	0.97	2.16	3.20	2.92	2.98	3.20
Depreciation	2.03	2.07	1.94	2.10	2.12	2.10	2.14	2.17	3.10	3.31	3.97	3.83	3.93
Profit before tax	5.14	4.09	1.83	0.08	9.70	0.24	1.88	1.34	0.07	0.04	2.80	0.28	0.97
Tax %	27.43%	26.16%	32.24%	25.00%	26.49%	29.17%	51.06%	23.88%	71.43%	50.00%	11.07%	25.00%	29.90%
	3.73	3.01	1.24	0.06	7.13	0.17	0.92	1.02	0.02	0.02	2.50	0.21	0.68
EPS in Rs	1.40	1.13	0.47	0.02	2.68	0.07	0.42	0.39	0.05	0.01	0.85	0.07	0.23
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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	TTM
	241	273	272	255	236	262	274	238	226	292	297	336	370
	229	254	252	234	220	253	255	219	199	267	285	314	343
Operating Profit	12	19	20	21	16	10	19	19	27	25	12	22	27
OPM %	5%	7%	7%	8%	7%	4%	7%	8%	12%	8%	4%	7%	7%
	6	1	17	20	-16	2	1	4	2	2	12	4	5
Interest	22	17	12	9	11	9	8	6	4	3	4	9	12
Depreciation	13	11	19	15	8	9	9	9	8	8	8	13	15
Profit before tax	-17	-8	6	17	-19	-6	4	8	16	15	12	4	4
Tax %	110%	-0%	-0%	0%	-0%	0%	-0%	-0%	-18%	28%	31%	17%
	-35	-9	11	17	-19	-6	4	8	19	11	8	4	3
EPS in Rs	-19.12	-4.98	6.21	9.31	-8.96	-2.46	1.59	3.29	7.24	4.15	3.20	1.26	1.16
Dividend Payout %	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	3%	7%	-0%	-0%

Compounded Sales Growth
10 Years:	2%
5 Years:	4%
3 Years:	14%
TTM:	25%

Compounded Profit Growth
10 Years:	12%
5 Years:	-7%
3 Years:	-44%
TTM:	60%

Stock Price CAGR
10 Years:	9%
5 Years:	14%
3 Years:	-9%
1 Year:	-15%

Return on Equity
10 Years:	10%
5 Years:	7%
3 Years:	4%
Last Year:	2%

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	Sep 2024
Equity Capital	18	18	18	19	22	24	25	25	27	27	27	29	31
Reserves	-9	28	61	45	53	47	53	61	83	94	102	115	120
	274	212	143	109	70	69	57	37	32	32	97	110	99
	37	40	44	41	59	60	60	50	46	47	68	78	72
Total Liabilities	319	296	265	213	203	200	196	173	188	199	293	332	321
	116	110	94	98	107	96	93	85	80	78	75	186	180
CWIP	6	3	5	3	0	3	2	0	-0	8	72	-0	1
Investments	8	3	8	7	-0	-0	0	-0	-0	1	12	12	12
	189	181	159	105	95	101	100	87	108	112	135	135	129
Total Assets	319	296	265	213	203	200	196	173	188	199	293	332	321

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
	48	62	29	22	36	17	19	26	18	13	10	12
	-11	-5	6	-10	-24	-7	-4	3	-8	-10	-65	-34
	-35	-56	-35	-14	-12	-10	-16	-28	-5	-8	60	16
Net Cash Flow	2	0	0	-2	-0	0	-1	1	5	-5	5	-6

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	62	55	30	39	38	39	40	29	37	31	33	33
Inventory Days	79	61	78	73	120	84	79	103	138	106	108	123
Days Payable	52	40	44	60	81	72	72	64	70	45	55	57
Cash Conversion Cycle	90	77	64	52	77	50	47	68	105	91	86	98
Working Capital Days	96	43	59	31	30	57	57	48	80	80	76	86
ROCE %	2%	6%	14%	16%	11%	2%	9%	9%	15%	12%	3%	6%

Shareholding Pattern

Numbers in percentages

9 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	32.86%	32.86%	32.86%	32.86%	32.86%	32.86%	32.39%	32.39%	32.39%	29.64%	29.64%	32.71%
	0.53%	0.35%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.48%	8.48%	8.12%
	9.40%	9.41%	9.40%	9.40%	9.40%	9.40%	9.27%	9.27%	9.27%	8.48%	8.41%	6.91%
	57.21%	57.38%	57.63%	57.71%	57.71%	57.72%	58.32%	58.32%	58.35%	53.39%	53.46%	52.26%
No. of Shareholders	24,771	25,802	25,608	25,661	25,229	24,909	24,616	24,146	23,685	24,010	24,521	25,924

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	30.65%	27.30%	26.47%	25.91%	32.86%	32.86%	32.86%	29.64%	32.71%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.35%	0.00%	8.48%	8.12%
	4.74%	14.80%	17.17%	17.18%	15.77%	9.41%	9.40%	8.48%	6.91%
	64.61%	57.90%	56.36%	56.91%	51.37%	57.38%	57.72%	53.39%	52.26%
No. of Shareholders	24,476	23,320	22,421	21,660	20,850	25,802	24,909	24,010	25,924

* 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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Pioneer Embroideries Ltd

Pioneer Embroideries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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