Pokarna Ltd

Pokarna Ltd
Construction Materials
FV – Rs 10; 52wks H/L –1103.85/660; TTQ – 6 K; CMP – Rs 1060 (As On January 10, 2017);                      

            Market Cap – Rs 657 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
6.2 97 179 400 51.21 156 82.6 12.9 14.06 6.8 56.67 –

 

Consolidated Financials and Valuations for H1 FY17


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
6.2 131 171 188 34.44 211 55.6 19.1 14.06 5.02 56.67 –

 

Valuation Parameters:

  1. Long Term Debt to Equity – 1.84
  2. ROE % – 53
  3. Market Cap/Sales – 1.64

 

Pokarna Engineered Stone Ltd (PESL) – wholly owned subsidiary of Pokarna Ltd., is India’s largest manufacturer and exporter of engineered stone surfaces.

Pokarna Engineered Stone Ltd (PESL) has partnered IKEA India to serve as its exclusive quartz surfaces supply and installation partner. Under the agreement, Pokarna will supply engineered quartz surfaces countertop and will also undertake measuring, planning, installation and home delivery of its products to IKEA’s customers. http://corporates.bseindia.com/xmldata/corpfiling/AttachHis/171EBA61_3AD9_4F10_880F_D3172BD257EA_154057.pdf

(IKEA is the world’s largest home furnishing company with about 389 stores across 46 countries and sales of €34.2 billion.) 

Overview:

  • Pokarna Ltd is engaged in processing and sale of granite slabs, and mining and sale of granite blocks.
  • The Company offers natural stones surfaces.
  • The Company operates through two segments: Granite and Apparel.
  • The Company is an exporter of granite and quartz surfaces.
  • Its color palette includes over 75 varieties of granite sourced primarily from captive quarries.
  • The Company’s quarries produce colors, such as Acacia, Black Galaxy, Coffee Brown, Flash Blue, Pokarna Green, Sapphire Blue, Seaweed Green, Silver Pearl and Vizag Blue.
  • It exports to over 50 countries.
  • The Company has manufacturing facilities in Telangana and Andhra Pradesh.
  • The Company markets quartz surfaces under the brand Quantra.
  • The Company also manufactures apparels and markets under its brand STANZA.
  • The Company operates over eight outlets.
  • The Company has a quartz manufacturing plant located at Vishakhapatnam, Andhra Pradesh, India.

Management:

  • Gautam Chand Jain – CMD
  • M. Viswanatha Reddy – CFO

Major Non – Promoter Holdings:

Sr.No Non – Promoters No. of Shares held % of Shares held
1 Nemi Chand 300000 4.84
2 Ashish Kacholia 427689 6.9
3 Suresh Bhatia 62500 1.01

 

 

Consolidated Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 6.2 6.2 6.2 6.2 6.2 6.2
Networth 97 53 26 16 22 53
Total Debt 244 260 277 252 237 203
Net Sales 400 334 232 209 184 168
Other Income 5 7 1 5 4 2
PAT 51.21 31.36 11.68 -6.64 -30.94 -21.53
Book Value (Rs) 156 85 42 26 35 85
EPS (Rs) 82.60 50.58 18.84 -10.71 -49.90 -34.73