Ecoboard Industries Ltd

₹ 27.1 -1.02%

13 Dec - close price

About

Incorporated in 1991, Ecoboard Industries Limited is engaged in manufacturing and selling of Eco-Friendly Particle Boards and Bio Systems

Key Points

Business Overview:^[1]
Company is engaged in two business lines:
a) Laminated particle boards made from agri-residues mainly bagasse,
b) Anaerobic waste water treatment plants for distilleries and other industries.
Company's particle boards, marketed in the brand name Ecoboard, are 100% wood free and all purpose boards. They are meant to be an alternative to conventional wood based particle boards, plywood and other panel products. It is the first product to be given Eco mark by the Government of India for its eco-friendly properties.
Ecoboard are made from any form of agricultural waste and converted into good quality.

Website BSE

Market Cap ₹ 48.4 Cr.
Current Price ₹ 27.1
High / Low ₹ 46.6 / 18.5
Stock P/E
Book Value ₹ 5.23
Dividend Yield 0.00 %
ROCE -10.8 %
ROE -28.6 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.

Cons

Stock is trading at 5.19 times its book value
Company has low interest coverage ratio.
Company has a low return on equity of -21.1% over last 3 years.
Contingent liabilities of Rs.18.2 Cr.
Company might be capitalizing the interest cost
Debtor days have increased from 82.8 to 109 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: Diversified Industry: Diversified - Medium / Small

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	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
	13.17	11.48	3.64	17.56	10.21	5.02	5.81	3.69	6.49	8.79	10.78	5.76	3.27
	11.30	10.18	6.04	15.63	10.49	5.68	10.31	6.33	7.94	8.61	10.00	6.54	5.65
Operating Profit	1.87	1.30	-2.40	1.93	-0.28	-0.66	-4.50	-2.64	-1.45	0.18	0.78	-0.78	-2.38
OPM %	14.20%	11.32%	-65.93%	10.99%	-2.74%	-13.15%	-77.45%	-71.54%	-22.34%	2.05%	7.24%	-13.54%	-72.78%
	0.13	0.99	2.19	0.57	1.92	-0.65	1.90	0.04	0.02	0.03	-2.29	0.01	0.09
Interest	0.57	0.76	0.51	0.42	0.51	0.60	0.81	0.31	-0.01	0.15	0.30	0.12	0.12
Depreciation	0.25	0.25	0.24	0.25	0.26	0.27	0.26	0.28	0.28	0.28	0.27	0.29	0.29
Profit before tax	1.18	1.28	-0.96	1.83	0.87	-2.18	-3.67	-3.19	-1.70	-0.22	-2.08	-1.18	-2.70
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.37%	0.00%	0.00%
	1.18	1.28	-0.96	1.83	0.87	-2.17	-3.67	-3.19	-1.70	-0.22	-2.15	-1.17	-2.69
EPS in Rs	0.66	0.72	-0.54	1.03	0.49	-1.22	-2.06	-1.79	-0.95	-0.12	-1.21	-0.66	-1.51
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Profit & Loss

Figures in Rs. Crores

	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
	37.23	28.05	16.90	22.04	16.28	8.84	20.38	12.04	15.02	34.72	38.60	29.76	28.60
	37.37	28.81	20.29	27.96	21.21	15.27	23.90	13.32	15.79	33.60	42.10	32.80	30.80
Operating Profit	-0.14	-0.76	-3.39	-5.92	-4.93	-6.43	-3.52	-1.28	-0.77	1.12	-3.50	-3.04	-2.20
OPM %	-0.38%	-2.71%	-20.06%	-26.86%	-30.28%	-72.74%	-17.27%	-10.63%	-5.13%	3.23%	-9.07%	-10.22%	-7.69%
	0.62	-0.34	2.25	-2.44	0.41	0.14	2.33	19.68	15.94	4.09	3.74	-2.30	-2.16
Interest	4.03	4.51	4.68	5.38	4.36	6.36	4.94	2.39	2.97	2.09	2.34	0.74	0.69
Depreciation	3.36	3.37	1.17	1.16	1.47	1.23	1.07	0.95	0.94	0.98	1.04	1.11	1.13
Profit before tax	-6.91	-8.98	-6.99	-14.90	-10.35	-13.88	-7.20	15.06	11.26	2.14	-3.14	-7.19	-6.18
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.97%
	-6.91	-8.98	-6.99	-14.90	-10.36	-13.87	-7.20	15.07	11.26	2.14	-3.14	-7.27	-6.23
EPS in Rs	-3.88	-5.04	-3.92	-8.36	-5.81	-7.78	-4.04	8.45	6.31	1.20	-1.76	-4.08	-3.50
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:	1%
5 Years:	8%
3 Years:	26%
TTM:	36%

Compounded Profit Growth
10 Years:	3%
5 Years:	8%
3 Years:	-20%
TTM:	67%

Stock Price CAGR
10 Years:	16%
5 Years:	57%
3 Years:	-3%
1 Year:	-6%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	-21%
Last Year:	-29%

Balance Sheet

Figures in Rs. Crores

	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	17.83	17.83	17.83	17.83	17.83	17.83	17.83	17.83	17.83	17.83	17.83	17.83	17.83
Reserves	16.80	7.82	-8.53	-23.43	-8.29	-22.05	-29.25	-14.16	-2.71	-0.68	2.61	-4.64	-8.51
	27.88	28.59	32.63	38.98	42.08	44.53	47.86	40.17	30.14	24.43	24.84	15.24	14.75
	13.82	11.54	9.34	13.66	15.60	20.25	26.65	17.79	27.54	20.87	16.92	27.72	26.80
Total Liabilities	76.33	65.78	51.27	47.04	67.22	60.56	63.09	61.63	72.80	62.45	62.20	56.15	50.87
	29.58	26.06	17.30	16.03	39.89	36.54	35.27	23.72	20.91	20.31	26.63	18.65	18.09
CWIP	0.22	0.00	1.71	2.34	2.36	2.36	2.36	2.36	2.37	3.45	3.25	0.00	0.00
Investments	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
	46.53	39.72	32.26	28.67	24.97	21.66	25.46	35.55	49.52	38.69	32.32	37.50	32.78
Total Assets	76.33	65.78	51.27	47.04	67.22	60.56	63.09	61.63	72.80	62.45	62.20	56.15	50.87

Cash Flows

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1.18	3.95	1.19	-0.24	1.00	0.91	0.38	-6.84	-2.39	-6.21	2.51	0.13
	-0.35	-0.45	-1.73	-0.65	0.06	2.83	1.70	9.21	19.05	10.72	0.12	9.54
	-0.73	-3.63	0.55	1.06	-1.15	-3.71	-1.60	-3.03	-13.17	-8.11	-1.93	-10.30
Net Cash Flow	0.10	-0.13	0.00	0.16	-0.09	0.03	0.48	-0.66	3.50	-3.60	0.70	-0.63

Ratios

Figures in Rs. Crores

	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	63.43	55.56	47.51	50.51	63.67	53.68	94.21	125.81	153.10	78.21	61.18	109.03
Inventory Days	597.67	630.60	622.10	497.18	690.48	677.86	267.93	1,292.34	823.66	405.63	304.05	263.28
Days Payable	172.32	163.07	128.68	127.08	211.60	273.40	255.87	699.58	370.35	76.83	153.89	138.08
Cash Conversion Cycle	488.78	523.09	540.94	420.60	542.56	458.14	106.26	718.56	606.40	407.01	211.34	234.24
Working Capital Days	315.29	356.28	485.73	282.20	262.09	34.68	-40.12	524.16	430.37	173.67	132.67	111.85
ROCE %	-4.47%	-6.17%	-5.95%	-17.39%	-14.12%	-16.25%	-11.07%	-0.75%	-0.56%	2.67%	-6.49%	-10.83%

Shareholding Pattern

Numbers in percentages

3 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
	58.39%	57.89%	57.92%	57.24%	57.25%	57.25%	57.18%	57.04%	56.78%	56.78%	56.78%	56.78%
	0.04%	0.04%	0.04%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	41.56%	42.06%	42.03%	42.48%	42.75%	42.75%	42.81%	42.96%	43.22%	43.21%	43.22%	43.22%
No. of Shareholders	11,664	11,852	11,758	11,836	11,870	11,838	11,865	12,091	11,944	11,917	11,969	11,858

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	60.22%	61.91%	62.10%	62.21%	62.01%	57.89%	57.25%	56.78%	56.78%
	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.00%	0.00%	0.00%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%
	39.72%	38.03%	37.85%	37.74%	37.93%	42.06%	42.75%	43.21%	43.22%
No. of Shareholders	11,967	11,662	11,567	11,525	11,378	11,852	11,838	11,917	11,858

* 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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Ecoboard Industries Ltd

Ecoboard Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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