Pochiraju Industries
Operates in three business segments - Agriculture, Pharma and Bio-tech
Market cap of INR 53.52 cr against FY 14 revenue of INR 120 cr
Low D/E Ratio - 0.16
GOM % = 30%
Completed construction of Phase I and Phase II of its bio-tech unit in Shamirpeth, Hyderabad
Plans to set up agricultural bases in Africa
Plans to expand in agri operations like logistics, infra and distribution
Financials | |||||||
2009-03 | 2010-03 | 2011-03 | 2012-03 | 2013-03 | 2014-03 | TTM | |
Revenue INR Mil | 358 | 433 | 554 | 724 | 1,089 | 1,197 | 1,337 |
Gross Margin % | 38.8 | 37.4 | 34.3 | 36.9 | 36 | 28.9 | 30.8 |
Operating Income INR Mil | 102 | 115 | 121 | 149 | 69 | 111 | 129 |
Operating Margin % | 28.6 | 26.5 | 21.8 | 20.5 | 6.3 | 9.3 | 9.6 |
Net Income INR Mil | 97 | 113 | 117 | 149 | 52 | 104 | 123 |
Earnings Per Share INR | 5.44 | 6.28 | 6.54 | 7.86 | 2.75 | 5.48 | 6.52 |
Dividends INR | |||||||
Payout Ratio % | |||||||
Shares Mil | 18 | 18 | 19 | 19 | 19 | 19 | |
Book Value Per Share INR | 48.91 | 54.4 | 62.83 | 65.58 | 71.06 | 71.06 | |
Operating Cash Flow INR Mil | 50 | 125 | 117 | 133 | 75 | 75 | |
Cap Spending INR Mil | -25 | -32 | -80 | -6 | -6 | ||
Free Cash Flow INR Mil | 25 | 93 | 37 | 133 | 70 | 70 | |
Free Cash Flow Per Share INR | 1.41 | 5.18 | 1.96 | 7.06 | 3.69 | 3.69 | |
Working Capital INR Mil | 379 | 264 | 301 | 308 | 349 | 650 | |
Key Ratios -> Profitability | |||||||
Margins % of Sales | 2009-03 | 2010-03 | 2011-03 | 2012-03 | 2013-03 | 2014-03 | TTM |
Revenue | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
COGS | 61.24 | 62.58 | 65.66 | 63.12 | 63.95 | 71.13 | 69.22 |
Gross Margin | 38.76 | 37.42 | 34.34 | 36.88 | 36.05 | 28.87 | 30.78 |
SG&A | 6.29 | 5.08 | 4.77 | 5.26 | 8.92 | 6.88 | 6.16 |
R&D | 3.97 | 2.27 | 0.87 | ||||
Other | 7.48 | 6.71 | 7.79 | 7.14 | 18.54 | 11.85 | 15.01 |
Operating Margin | 28.59 | 26.47 | 21.78 | 20.51 | 6.32 | 9.27 | 9.62 |
Net Int Inc & Other | |||||||
EBT Margin | 28.59 | 26.47 | 21.78 | 20.51 | 6.32 | 9.27 | 9.62 |
Profitability | 2009-03 | 2010-03 | 2011-03 | 2012-03 | 2013-03 | 2014-03 | TTM |
Tax Rate % | 4.84 | 1.91 | 2.9 | 24.33 | 6.65 | 4.17 | |
Net Margin % | 27.21 | 25.96 | 21.14 | 20.51 | 4.78 | 8.66 | 9.22 |
Asset Turnover (Average) | 0.43 | 0.5 | 0.54 | 0.55 | 0.71 | 0.71 | |
Return on Assets % | 11.6 | 12.93 | 11.32 | 11.19 | 3.41 | 6.18 | |
Financial Leverage (Average) | 1.1 | 1.03 | 1.14 | 1.25 | 1.26 | 1.33 | 1.27 |
Return on Equity % | 12.76 | 13.73 | 12.31 | 13.41 | 4.29 | 8.03 | |
Return on Invested Capital % | 13.18 | 13.67 | 11.59 | 11.27 | 3.53 | 9.84 | |
Interest Coverage | |||||||
Key Ratios -> Growth | |||||||
2009-03 | 2010-03 | 2011-03 | 2012-03 | 2013-03 | 2014-03 | Latest Qtr | |
Revenue % | |||||||
Year over Year | 21.06 | 27.93 | 30.65 | 50.29 | 9.99 | 62.86 | |
3-Year Average | 26.48 | 35.94 | 29.26 | ||||
5-Year Average | 27.31 | ||||||
10-Year Average | |||||||
Operating Income % | |||||||
Year over Year | 12.06 | 5.25 | 23.07 | -53.68 | 61.38 | 64.15 | |
3-Year Average | 13.22 | -15.66 | -2.75 | ||||
5-Year Average | 1.64 | ||||||
10-Year Average | |||||||
Net Income % | |||||||
Year over Year | 15.51 | 4.19 | 26.75 | -64.95 | 99.08 | ||
3-Year Average | 15.11 | -22.65 | -4.01 | ||||
5-Year Average | 1.25 | ||||||
10-Year Average | |||||||
EPS % | |||||||
Year over Year | 15.44 | 4.14 | 20.18 | -65.01 | 99.27 | 81.25 | |
3-Year Average | 13.05 | -24.06 | -5.72 | ||||
5-Year Average | 0.15 | ||||||
10-Year Average | |||||||
Key Ratios -> Cash Flow | |||||||
Cash Flow Ratios | 2009-03 | 2010-03 | 2011-03 | 2012-03 | 2013-03 | 2014-03 | TTM |
Operating Cash Flow Growth % YOY | 147.56 | -6.44 | 14.07 | -43.57 | |||
Free Cash Flow Growth % YOY | 267.93 | -59.99 | 259.8 | -47.77 | |||
Cap Ex as a % of Sales | 7.07 | 7.46 | 14.41 | 0.51 | 0.42 | ||
Free Cash Flow/Sales % | 7.04 | 21.38 | 6.69 | 18.42 | 6.4 | 5.21 | |
Free Cash Flow/Net Income | 0.26 | 0.82 | 0.32 | 0.9 | 1.34 | 0.57 | |
Key Ratios -> Financial Health | |||||||
Balance Sheet Items (in %) | 2009-03 | 2010-03 | 2011-03 | 2012-03 | 2013-03 | 2014-03 | Latest Qtr |
Cash & Short-Term Investments | 14.87 | 2.12 | 2.26 | 0.93 | 0.48 | 0.13 | 0.13 |
Accounts Receivable | 12.14 | 15.8 | 16.88 | 16.88 | |||
Inventory | 8.83 | 8.25 | 6.37 | 4.68 | 6.76 | 12.17 | 12.17 |
Other Current Assets | 22.86 | 19.61 | 17.81 | 3.64 | 4.2 | 22.1 | 22.1 |
Total Current Assets | 46.56 | 29.99 | 26.44 | 21.4 | 27.23 | 51.29 | 51.29 |
Net PP&E | 38.65 | 53.33 | 58.69 | 62.7 | 56.39 | 46.28 | 46.28 |
Intangibles | 2.84 | 2.7 | 2.36 | 2.36 | |||
Other Long-Term Assets | 14.8 | 16.68 | 14.87 | 13.05 | 13.68 | 0.06 | 0.06 |
Total Assets | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
Accounts Payable | 0.16 | 0.17 | 0.14 | 0.14 | |||
Short-Term Debt | 8.8 | 8.8 | |||||
Taxes Payable | |||||||
Accrued Liabilities | |||||||
Other Short-Term Liabilities | 1.44 | 0.7 | 0.72 | 0.48 | 4.8 | 5.97 | 5.97 |
Total Current Liabilities | 1.44 | 0.7 | 0.72 | 0.64 | 4.97 | 14.91 | 14.91 |
Long-Term Debt | 7.65 | 2.1 | 11.33 | 19.38 | 14.83 | 8.67 | 8.67 |
Other Long-Term Liabilities | 1.07 | 1.18 | 1.18 | ||||
Total Liabilities | 9.09 | 2.81 | 12.06 | 20.02 | 20.87 | 24.76 | 24.76 |
Total Stockholders' Equity | 90.91 | 97.19 | 87.94 | 79.98 | 79.13 | 75.24 | 75.24 |
Total Liabilities & Equity | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
Liquidity/Financial Health | 2009-03 | 2010-03 | 2011-03 | 2012-03 | 2013-03 | 2014-03 | Latest Qtr |
Current Ratio | 32.24 | 42.57 | 36.63 | 33.65 | 5.48 | 3.44 | 4.32 |
Quick Ratio | 24.46 | 25.54 | 27.8 | 26.29 | 4.12 | 1.82 | 3.17 |
Financial Leverage | 1.1 | 1.03 | 1.14 | 1.25 | 1.26 | 1.33 | 1.27 |
Debt/Equity | 0.08 | 0.02 | 0.13 | 0.24 | 0.19 | 0.12 | 0.16 |
Key Ratios -> Efficiency Ratios | |||||||
Efficiency | 2009-03 | 2010-03 | 2011-03 | 2012-03 | 2013-03 | 2014-03 | TTM |
Days Sales Outstanding | 175.07 | 132.53 | 115.64 | 97.92 | 71.73 | 83.68 | |
Days Inventory | 123.46 | 99.92 | 74.65 | 57.52 | 45.98 | 69.27 | |
Payables Period | 3.66 | 2.89 | 2.25 | 1.88 | 1.31 | 1.11 | |
Cash Conversion Cycle | 294.87 | 229.56 | 188.04 | 153.55 | 116.4 | 151.83 | |
Receivables Turnover | 2.08 | 2.75 | 3.16 | 3.73 | 5.09 | 4.36 | |
Inventory Turnover | 2.96 | 3.65 | 4.89 | 6.35 | 7.94 | 5.27 | |
Fixed Assets Turnover | 1.1 | 1.08 | 0.95 | 0.9 | 1.2 | 1.4 | |
Asset Turnover | 0.43 | 0.5 | 0.54 | 0.55 | 0.71 | 0.71 |