SBC Exports Ltd

SBC Exports Ltd

₹ 27.0 -3.33%
21 Nov - close price
About

SBC Exports Ltd was incorporated in 2011. It is engaged in the Trading and Manufacturing of Garments, Manpower Supply Services & Tour Operator Services. Currently, co. has 70 distributors in India, receives an average of 75 new projects every year. Mr Govindji Gupta is the MD of the co. [1] [2] [3]

Key Points

Business Overview

SBC Exports Limited is engaged in the Trading and Manufacturing of Garments, Manpower Supply Services & Tour Operator Services. Earlier it was engaged in the Trading of handmade carpets, cushion covers, cotton quilts and bedspreads etc. It entered into Business of Information Technology and Manpower Supply Services in 2017 and Tour and Travel Services in 2018. It is working as a Tour & Travel Booking engine via Maujitrip.Com .[1]

Business Segment
Textiles, Garments (~53% in 9M FY24 vs 51% in FY23) - Co. is engaged in the production of Hosiery Fabrics & Hosiery Garments for Ladies, Mens’ and Kids, which are sold under the brand name of “SBC DESIGN+”, “SBC F-ROUTE”, “IEDEE”. It is also into Home Furnishings which includes handmade carpets, cushion covers, cotton quilts, and bedspreads, etc. It has 2 processing units in UP.

  • Market Cap 857 Cr.
  • Current Price 27.0
  • High / Low 37.9 / 18.4
  • Stock P/E 50.8
  • Book Value 1.76
  • Dividend Yield 0.19 %
  • ROCE 24.6 %
  • ROE 23.6 %
  • Face Value 1.00

Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 15.3 times its book value
  • Company has high debtors of 156 days.
  • Promoter holding has decreased over last 3 years: -3.77%
  • Working capital days have increased from 70.5 days to 104 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 - Products

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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
52.02 56.10 52.62 41.42 36.90 49.82 67.59 52.86 35.22 51.96 69.37 65.72 65.98
49.41 52.48 50.54 39.08 34.76 46.66 64.66 47.65 31.49 48.06 65.43 59.66 60.24
Operating Profit 2.61 3.62 2.08 2.34 2.14 3.16 2.93 5.21 3.73 3.90 3.94 6.06 5.74
OPM % 5.02% 6.45% 3.95% 5.65% 5.80% 6.34% 4.33% 9.86% 10.59% 7.51% 5.68% 9.22% 8.70%
0.00 0.01 0.04 0.51 0.06 0.14 1.39 0.95 0.23 0.75 1.73 1.40 2.01
Interest 0.36 0.44 0.51 0.30 0.57 0.62 0.78 1.16 1.40 1.46 1.91 1.73 1.96
Depreciation 0.19 0.13 0.20 0.20 0.03 0.31 0.56 0.41 0.39 0.33 0.44 0.41 0.42
Profit before tax 2.06 3.06 1.41 2.35 1.60 2.37 2.98 4.59 2.17 2.86 3.32 5.32 5.37
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
2.06 3.05 1.41 2.35 1.60 2.37 2.97 4.59 2.17 2.87 3.31 5.32 5.37
EPS in Rs 0.06 0.10 0.04 0.07 0.05 0.07 0.09 0.14 0.07 0.09 0.10 0.17 0.17
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
130 206 222 212 253
126 198 212 195 233
Operating Profit 4 8 11 17 20
OPM % 3% 4% 5% 8% 8%
0 0 2 4 6
Interest 1 2 2 7 7
Depreciation 1 1 1 2 2
Profit before tax 3 6 9 13 17
Tax % 28% 39% 26% 28%
2 3 7 9 17
EPS in Rs 0.06 0.11 0.22 0.29 0.53
Dividend Payout % 0% 0% 15% 17%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 18%
TTM: 23%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 71%
TTM: 39%
Stock Price CAGR
10 Years: %
5 Years: 98%
3 Years: 112%
1 Year: 22%
Return on Equity
10 Years: %
5 Years: %
3 Years: 21%
Last Year: 24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 11 21 21 32 32
Reserves 12 5 13 12 24
0 9 27 53 43
54 61 54 88 139
Total Liabilities 76 97 115 185 238
4 6 8 23 29
CWIP 0 0 0 1 1
Investments 0 2 4 6 0
72 89 102 155 209
Total Assets 76 97 115 185 238

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024
4 -11 -5
-4 -6 -20
0 17 25
Net Cash Flow 1 1 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 85 86 92 156
Inventory Days 95 50 57 76
Days Payable 113 75 65 136
Cash Conversion Cycle 67 62 83 95
Working Capital Days 54 37 70 104
ROCE % 25% 24% 25%

Shareholding Pattern

Numbers in percentages

16 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
68.26% 65.22% 65.22% 65.50% 65.78% 65.81% 65.81% 65.69% 65.91% 64.71% 63.59% 64.30%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.16% 0.03% 0.01% 0.01% 0.15%
31.74% 34.78% 34.78% 34.50% 34.24% 34.19% 34.18% 34.16% 34.06% 35.28% 36.39% 35.56%
No. of Shareholders 92849,73656,63749,59054,65749,45550,16749,76072,4871,37,7881,27,8341,26,779

* 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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