SUUMAYA LIFESTYLE LIMITED - Q2 FY 21 RESULTS REVIEW

 

SUUMAYA LIFESTYLE LIMITED

Q2 FY 21 RESULTS REVIEW

DT 08 12 20

Suumaya Lifestyle Limited Company is a highly creative brand for exquisite fashion and brings you the world’s finest collection of Indo-Western Designer Kurtis.

The Company offers a wide range of kurtis, ethnic tops, salwar suits, sarees, and related dress materials. Suumaya Lifestyle markets its products worldwide.

The company has its own design and production house with expertise and dedicated team. It markets products under the brand name "ekka", "ira" and "tag 9". Suumaya serves its customers through retail as well as wholesale.

IPO MAY,22,2018

Objects of the Issue:

The Offer consists of a fresh issue of 18,88,000 Equity Shares and an offer for sale of up to 58,00,000 Equity Shares of the Company aggregating to Rs.13.84 cr by the Selling Shareholder. The Company will not receive any proceeds from the Offer for Sale. The Selling Shareholder will be entitled to the proceeds of the Offer for Sale of their respective portions of the Offered Shares, respectively net of their proportion of Offer related expenses.

The Objects of the Fresh Issue is funding working capital requirements.

Management                                

Ishita Mahesh Gala     :Chairman & Managing Director

Ushik Mahesh Gala      :Chief Executive Officer

Karishma Ruturaj Kaku:Chief Financial Officer            

PURCHASE ORDER DT MAY 2020

Mumbai, May 14, 2020: Suumaya Lifestyle today announced that - it has bagged several orders aggregating Rs 525 crores

(approximately) from various government institutions and private companies across India for the supply of COVID-19 essentials, reusable cotton masks and PPE kits. This order comes at a time when cities such as Mumbai, Delhi and Ahmedabad are reeling under a high number of COVID19 positive cases.

Suumaya plans to supply nearly 50 lakh reusable cotton masks and 35 lakh PPE kits over the next 5 months.

The entire production to execute these orders would be processed at Suumaya’s exclusive contracted manufacturing facilities at Surat, Ahmedabad and Mumbai.

The company has taken necessary measures to raise the funds to adequately meet the working capital requirements for smooth execution of these projects.

 

Commenting on receiving the order, Mr. Ushik Gala, Chairman of Suumaya Lifestyle Limited said, “Our country is facing an unprecedented challenge battling the increasing number of COVID 19 positive cases, especially in metros such as Mumbai, Delhi and Ahmedabad.

I would like to thank the government and private institutions for giving us an opportunity to serve our Nation.

Work has already begun on a war footing basis at our factories situated in Surat and Ahmedabad to supply the COVID19 essentials in the shortest possible time.”

Mr. Gala added, “Of the total orders which we have received, Rs 65 crores is from various State Governments while Rs 15 crores is from various Central Government Agencies.

In addition to this we have also received orders worth Rs 400 crores from Zilingo, a unicorn start-up backed by various global VC funds and Rs 45 crores from various MNCs and corporate.”

The Company has set up an expert committee for chalking down or evolution of Suumaya 2.0 Strategy which would be evaluating ways to tide down the current crisis and at the same time explore any organic or inorganic growth opportunities post Covid-19.

The order marks the foray of Suumaya into the new growth vertical of Medical Textiles, which is likely to witness substantial growth in both the domestic & international markets, post the prevailing pandemic.

Attracting several thousand visits per month from across the world, Suumaya has managed to set the bar in the Indian Ethnic Wear market by offering an unparalleled selection of prints and fabrics paired with unmatched service.

The company has pan-India presence across 23 states and more than 175 cities. It’s brands are available at 1450+ MBOs, 320+ SIS and around 10 EBOs in addition to presence across leading online platforms as well. The company has clocked revenues of Rs 175 crs in the year FY2019.

Suumaya Lifestyle (in Rs. Cr.)-CONSOL	Sep '20		Jun '20		Sep '19		Jun '19		YOY		QOQ
Net Sales	227.09		106.7		74.66		35.51		204.17		112.83
FINAL NET PROFIT		29.65		-3.67		2.14		2.84		1285.51		-907.9
Equity Share Capital		24.01		24.01		24.01		24.01		0		0
Basic EPS:FV 10		12.35		-1.52		0.89		1.18		1287.64		-912.5
Raw Materials	170.79		107.84		65.73		27.89		159.84		58.37
Increase/Decrease in Stocks	4.77		1.95		3.22		2.49		48.14		144.62
Employees Cost	0.18		0.16		0.76		0.02		-76.32		12.5
Depreciation	0.07		0.07		0.04		0.03		75		0
Other Expenses	10.54		0.24		1.85		1.15		469.73		4291.67
P/L Before Other Inc., Int., Excpt. Items & Tax	40.74		-3.56		3.06		3.93		1231.37		-1244.38
Other Income	0.69		--		--		0.01
P/L Before Int., Excpt. Items & Tax	41.43		-3.56		3.06		3.94		1253.92		-1263.76
Interest	0.87		0.11		0.12		0.04		625		690.91
P/L Before Tax	40.56		-3.67		2.94		3.9		1279.59		-1205.18
Tax	10.91		--		0.8		1.06		1263.75

 

MP  103 NSE ONLY

PE   2.06      

AVERAGE VOLUME            

5-Day                   NOT LISTED ON BSE. 

36,209         

10-Day         

30,897         

30-Day         

56,167         

52 Wk L/H  19   112.2 CURRENT PRICE :103

Deliverables        

72.33% 

 

HISTORICAL PRICES
Jun-19	15
Nov-19	23
MARCH,20	21
Apr-20	35
MAY,20	39.5
Sep-20	32
NOV	105
DEC	103

 

Annual Results	Mar-20	Mar-19	Mar-18
Sales	210	174	377
Other Income	0	0	0
Total Income	210	175	377
Total Expenditure	199	169	375
EBIT	11	5	2
Interest	0	0	0
Tax	2	1	0
Net Profit	8	3	1

 

CASH FLOWS	Mar-20	Mar-19	Mar-18
Operating Activities	-13	-10	1
Investing Activities	-3	0	-1
Financing Activities	17	12	2
Others	0	0	0
Net Cash Flow	0	2	3

 

Margin Ratios	Mar-20	Mar-19	Mar-18
Gross Profit Margin (%)	5.33	2.96	0.56
Operating Margin (%)	5.23	2.9	0.55
Net Profit Margin (%)	3.87	2.07	0.38
Return Ratios	Mar-20	Mar-19	Mar-18
Return on Networth / Equity (%)	21.09	11.88	5.88
ROCE (%)	19.98	11.98	8.18
Return On Assets (%)	8.44	4.87	2.8

 

Leverage Ratios	Mar-20
Debt to Equity (x)	0.54
Interest Coverage Ratios (%)	60.01