Bhartiya International Ltd

₹ 819 -1.56%

19 Dec - close price

About

Incorporated in 1987, Bhartiya International manufactures and trades leather products
& textile products^[1]

Key Points

Business Overview:^[1]^[2]
Company sources leather from India, Europe, Middle East, Latin America and other Asia Pacific counties, and exports leather garments and accessories to US, Canada, Switzerland, Italy, France, Spain, and Austria, etc. Besides leather products, company also trades in textile apparels for which designing, raw material procurement and marketing activities are done in-house, while production is outsourced to manufacturers in China and Bangladesh.

Website BSE NSE - BE

Market Cap ₹ 1,000 Cr.
Current Price ₹ 819
High / Low ₹ 845 / 246
Stock P/E 2,439
Book Value ₹ 334
Dividend Yield 0.00 %
ROCE 6.61 %
ROE 0.05 %
Face Value ₹ 10.0

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Pros

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 0.78% over past five years.
Company has a low return on equity of 4.29% 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: Leather Industry: Leather / Leather 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
	214.55	208.36	156.57	226.19	233.72	191.91	146.78	171.87	227.65	198.35	179.66	229.24	295.91
	197.69	211.61	170.89	215.00	206.66	172.81	131.09	158.54	201.80	184.29	165.98	216.94	267.44
Operating Profit	16.86	-3.25	-14.32	11.19	27.06	19.10	15.69	13.33	25.85	14.06	13.68	12.30	28.47
OPM %	7.86%	-1.56%	-9.15%	4.95%	11.58%	9.95%	10.69%	7.76%	11.36%	7.09%	7.61%	5.37%	9.62%
	15.66	13.92	2.51	0.59	1.37	0.72	54.71	0.71	0.67	0.87	5.43	0.63	1.82
Interest	5.06	5.85	5.80	7.11	9.08	12.06	8.44	9.73	10.62	10.44	11.34	10.25	12.12
Depreciation	8.87	9.85	2.11	6.21	6.17	6.30	6.54	6.54	6.34	6.58	6.08	6.40	6.40
Profit before tax	18.59	-5.03	-19.72	-1.54	13.18	1.46	55.42	-2.23	9.56	-2.09	1.69	-3.72	11.77
Tax %	19.42%	14.31%	5.83%	83.12%	26.10%	35.62%	1.23%	59.19%	41.53%	55.98%	16.57%	45.70%	34.83%
	14.98	-5.74	-20.86	-2.82	9.73	0.93	54.73	-3.54	5.58	-3.26	1.41	-5.43	7.67
EPS in Rs	12.28	-4.71	-17.08	-2.31	7.98	0.77	44.85	-2.89	4.58	-2.66	1.16	-4.44	6.29
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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
	303	414	558	622	642	711	748	721	548	694	799	778	903
	277	377	508	569	598	661	688	661	521	684	712	700	835
Operating Profit	26	37	50	53	44	49	60	60	28	10	87	78	69
OPM %	9%	9%	9%	9%	7%	7%	8%	8%	5%	1%	11%	10%	8%
	3	4	-1	-2	6	7	13	4	5	32	52	7	9
Interest	12	16	13	13	18	23	35	29	28	29	45	52	44
Depreciation	3	4	6	6	6	7	8	10	10	24	25	26	25
Profit before tax	14	21	30	32	26	26	29	26	-6	-11	68	7	8
Tax %	30%	31%	28%	29%	31%	33%	33%	17%	5%	49%	9%	97%
	10	15	21	25	18	17	20	21	-6	-17	63	0	0
EPS in Rs	9.17	13.12	18.73	21.09	15.37	14.34	16.23	17.43	-5.04	-13.54	51.29	0.18	0.35
Dividend Payout %	11%	8%	5%	6%	8%	8%	7%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	6%
5 Years:	1%
3 Years:	12%
TTM:	22%

Compounded Profit Growth
10 Years:	-35%
5 Years:	-60%
3 Years:	27%
TTM:	-99%

Stock Price CAGR
10 Years:	7%
5 Years:	42%
3 Years:	45%
1 Year:	137%

Return on Equity
10 Years:	5%
5 Years:	3%
3 Years:	4%
Last Year:	0%

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	11	11	11	12	12	12	12	12	12	12	12	12	12
Reserves	131	145	166	211	254	363	383	335	328	311	376	378	395
	104	171	204	222	265	348	383	441	437	478	501	517	515
	44	53	92	100	88	187	140	117	126	142	123	190	264
Total Liabilities	290	380	473	544	619	910	917	904	903	943	1,012	1,097	1,187
	66	66	67	75	87	97	114	125	187	194	199	179	168
CWIP	0	4	6	9	8	25	10	11	8	8	0	1	3
Investments	41	39	38	38	43	127	123	47	38	6	54	43	31
	184	272	362	422	481	661	670	721	669	735	758	873	984
Total Assets	290	380	473	544	619	910	917	904	903	943	1,012	1,097	1,187

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
	-6	-21	-21	-12	-2	-56	8	-7	26	46	12	66
	-9	-2	-8	-14	-21	-28	-1	-12	-24	-46	-22	-21
	18	51	22	23	45	65	3	31	-35	16	-14	-26
Net Cash Flow	4	27	-7	-2	22	-20	10	12	-32	16	-25	18

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	45	25	60	53	52	98	60	64	93	68	59	68
Inventory Days	211	238	204	243	248	280	327	369	464	401	423	496
Days Payable	56	42	57	61	51	122	83	67	113	101	74	134
Cash Conversion Cycle	200	221	207	235	249	256	304	366	444	367	408	429
Working Capital Days	150	157	153	170	190	220	222	250	339	276	268	282
ROCE %	12%	13%	13%	12%	9%	8%	9%	7%	3%	2%	13%	7%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	57.36%	57.36%	57.36%	57.36%	57.36%	57.36%	57.36%	57.35%	57.35%	57.35%	57.35%	57.35%
	0.00%	0.00%	0.00%	0.00%	0.00%	8.64%	8.61%	8.53%	8.36%	8.36%	8.25%	8.12%
	8.65%	8.65%	8.64%	8.64%	8.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.18%
	34.00%	34.00%	34.00%	33.99%	34.00%	34.00%	34.03%	34.13%	34.29%	34.30%	34.33%	34.35%
No. of Shareholders	6,517	6,531	6,690	6,423	6,239	6,122	6,437	6,157	6,120	5,548	5,344	5,214

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	49.35%	47.60%	47.52%	50.48%	57.38%	57.36%	57.36%	57.35%	57.35%
	0.21%	0.21%	6.12%	0.00%	0.00%	0.00%	8.64%	8.36%	8.12%
	0.25%	0.32%	0.23%	8.55%	8.55%	8.65%	0.00%	0.00%	0.18%
	0.00%	0.33%	0.33%	0.35%	0.42%	0.00%	0.00%	0.00%	0.00%
	50.19%	51.54%	45.81%	40.61%	33.65%	34.00%	34.00%	34.30%	34.35%
No. of Shareholders	5,981	4,976	4,812	4,681	4,934	6,531	6,122	5,548	5,214

* 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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Bhartiya International Ltd

Bhartiya International Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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