NITIN SPINNERS
Q2 FY 21 RESULTS REVIEW
COMPANY OVERVIEW
Nitin Spinners Limited is a Government of India recognized Export House, manufacturing 100% Cotton Yarns and Fabrics.
They manufacture the range of yarn which include open end yarns, multifold open end yarns, ring spun combed yarns, multifold ring spun yarns, S and Z twist yarns, dyeable cheese cones and organic cotton yarns and blends.
The company offers fabrics in greige form in tubular and open width. The range includes single jersey, pique structures, interlock structures, rib structures and three thread fleece.
The company`s range of products are used to manufacture products, such as apparel and garments, under garments, terry towels, woven fabrics, home furnishings, carpets, denim, industrial textiles, medical textiles and socks.
MANAGEMENT
R L Nolkha : Chairman
Dinesh Nolkha : Managing Director
Nitin Nolakha : Executive Director
QUARTERLY RESULTS
|
Nitin Spinners (in Rs. Cr.) |
Sep '20 |
Jun '20 |
Sep '19 |
YOY |
QOQ |
|
Net Sales |
427 |
219 |
373 |
14.58 |
94.79 |
|
Net Profit |
11.92 |
-9.15 |
0.73 |
1532.88 |
230.27 |
|
Equity |
56.22 |
56.22 |
56.22 |
0 |
0 |
|
Basic EPS |
2.12 |
-1.63 |
0.14 |
1414.29 |
-230.06 |
|
Raw Materials |
228.88 |
171.66 |
248.75 |
-7.99 |
33.33 |
|
Increase/Decrease in Stocks |
41.29 |
-52.77 |
-0.16 |
-25906.3 |
-178.25 |
|
Power & Fuel |
-- |
-- |
43.37 |
||
|
Employees Cost |
27.04 |
23.64 |
22.75 |
18.86 |
14.38 |
|
depreciation |
22.85 |
23.16 |
21.33 |
7.13 |
-1.34 |
|
Other Expenses |
74.28 |
53.07 |
22.73 |
226.79 |
39.97 |
|
P/L Before Other Inc. , Int., Excpt. Items & Tax |
32.56 |
0.39 |
13.8 |
135.94 |
8248.72 |
|
Other Income |
0.09 |
0.77 |
0.26 |
-65.38 |
-88.31 |
|
P/L Before Int., Excpt. Items & Tax |
32.65 |
1.16 |
14.06 |
132.22 |
2714.66 |
|
Interest |
14.61 |
15.01 |
13.01 |
12.3 |
-2.66 |
|
P/L Before Tax |
18.04 |
-13.85 |
1.05 |
1618.1 |
230.25 |
|
Tax |
6.12 |
-4.7 |
0.31 |
1874.19 |
-230.21 |
MP 50
PE 5.896226415
VOLUMES 29000
52 Wk L/H 24.7 63.95
Market Depth
BUY 4235
SELL 8622
33%
67%
|
Annual Results |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Sales |
1,438 |
1,242 |
1,145 |
933 |
766 |
|
Net Profit |
23 |
64 |
52 |
57 |
44 |
|
Other Income |
2 |
2 |
2 |
0 |
0 |
|
Total Income |
1,440 |
1,245 |
1,147 |
934 |
767 |
|
Total Expenditure |
1,348 |
1,119 |
1,046 |
841 |
669 |
|
EBIT |
91 |
126 |
100 |
92 |
98 |
|
Interest |
55 |
28 |
29 |
22 |
33 |
|
Tax |
11 |
33 |
19 |
12 |
21 |
|
cash flows |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Operating Activities |
98 |
103 |
66 |
53 |
100 |
|
Investing Activities |
-216 |
-483 |
-20 |
-241 |
-35 |
|
Financing Activities |
115 |
382 |
-47 |
188 |
-64 |
|
Others |
0 |
0 |
0 |
0 |
0 |
|
Net Cash Flow |
-2 |
2 |
-1 |
0 |
0 |
|
Per Share Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Basic EPS (Rs.) |
4.24 |
11.43 |
10.56 |
12.51 |
9.64 |
|
Diluted Eps (Rs.) |
4.24 |
11.43 |
10.56 |
12.51 |
9.64 |
|
Book Value [Excl. Reval Reserve]/Share (Rs.) |
87.87 |
85.83 |
75.03 |
57.66 |
44.87 |
|
Dividend/Share (Rs.) |
0.6 |
1.25 |
1.2 |
1.2 |
1 |
|
Face Value |
10 |
10 |
10 |
10 |
10 |
|
Margin Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Gross Profit Margin (%) |
11.95 |
14.55 |
13.72 |
14.38 |
17.96 |
|
Operating Margin (%) |
6.34 |
10.15 |
8.81 |
9.91 |
12.8 |
|
Net Profit Margin (%) |
1.65 |
5.15 |
4.57 |
6.14 |
5.75 |
|
Return Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Return on Networth / Equity (%) |
4.82 |
13.28 |
12.56 |
21.69 |
21.47 |
|
ROCE (%) |
7.47 |
11.04 |
13.4 |
13.71 |
8.91 |
|
Return On Assets (%) |
1.44 |
4.46 |
5.64 |
6.47 |
6.95 |
|
Liquidity Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Current Ratio (X) |
1.15 |
1.43 |
1.97 |
1.27 |
1.47 |
|
Quick Ratio (X) |
0.53 |
0.66 |
0.8 |
0.47 |
0.65 |
|
Leverage Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Debt to Equity (x) |
1.95 |
1.67 |
0.95 |
1.9 |
1.45 |
|
Interest Coverage Ratios (%) |
1.64 |
4.37 |
3.42 |
4.16 |
2.98 |
|
Turnover Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
Asset Turnover Ratio (%) |
87.4 |
86.5 |
123.33 |
105.44 |
120.75 |
|
Inventory Turnover Ratio (X) |
5.43 |
5.45 |
5.57 |
5.49 |
6.68 |
|
Valuation Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
P/E (x) |
0 |
28.06 |
23.66 |
23.45 |
20.15 |
|
P/B (x) |
0.32 |
1.05 |
1.31 |
2.06 |
1.31 |
|
EV/EBITDA (x) |
6.52 |
7.24 |
6 |
7.79 |
4.12 |
|
P/S (x) |
0.11 |
0.41 |
0.48 |
0.58 |
0.35 |
|
Growth Ratios |
Mar-20 |
Mar-19 |
Mar-18 |
Mar-17 |
Mar-16 |
|
3 Yr CAGR Sales (%) |
15.5 |
17.45 |
22.93 |
24.1 |
19.8 |
|
3 Yr CAGR Net Profit (%) |
-25.39 |
13.23 |
8.55 |
18.14 |
46.17 |
|
historical prices |
THEN |
NOW |
DIFF |
|
3yr BEFORE |
125.25 |
49.25 |
-60.68 |
|
2yr BEF |
84.8 |
49.25 |
-41.92 |
|
1YR BEF |
55.5 |
49.25 |
-11.26 |
|
3M BEF |
39.4 |
49.25 |
25 |
|
Type |
Dividend% |
Ex-Dividend date |
|
Final |
6 |
Sep 08, 2020 |
|
Final |
12.5 |
Sep 12, 2019 |
|
Final |
12 |
Sep 12, 2018 |
|
Final |
12 |
Aug 24, 2017 |
|
Final |
10 |
Sep 15, 201 |
|
Share Holding Pattern in (%) |
||||
|
Standalone |
Sep-20 |
Mar-20 |
Jun-19 |
Mar-19 |
|
Promoters |
56.04 |
55.89 |
55.82 |
55.82 |
|
Pledged |
0 |
0 |
0 |
0 |
|
FII/FPI |
0 |
0.04 |
0 |
0 |
|
Total DII |
19.92 |
20.94 |
19.82 |
19.86 |
|
Fin.Insts |
0 |
0 |
0.06 |
0.04 |
|
Insurance Co |
0 |
0 |
0 |
0 |
|
MF |
14.66 |
16.15 |
16.08 |
15.86 |
|
Others DIIs |
5.26 |
4.79 |
3.68 |
3.96 |
|
Others |
24.04 |
23.13 |
24.36 |
24.32 |
|
Total |
100 |
100 |
100 |
100 |
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