Kriti Industries Ltd

Kriti Industries Ltd
Plastic Products
FV – Rs 1; 52wks H/L – 46.7/21; TTQ – 28 K; CMP – Rs 43.5 (As On March 16, 2017);                      

            Market Cap – Rs 216 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
4.96 55 20 481 10.76 11 2.17 20.05 21.39 3.95 65.76 -0.81

 

Standalone Financials and Valuations for 9Mnths FY17


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
TTM EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
4.96 77 25 284 12.98 15 2.62 16.6 21.39 2.9 65.76 -0.81

 

Valuation Parameters:

  1. Long Term Debt to Equity – 0.36
  2. ROE % -20
  3. Market Cap/Sales – 0.45

During the year the company processed 49010 MT of plastic as against 37812 MT as of last year which results in 29.61% growth.

Company has undertaken Water tank, RPVC Pipes & Fittings, CPVC and Infrastructure up gradation expansion projects involving capital outlay of Rs.14 Crs in Phase I to be financed by Term loan of Rs.10 Crs and balance by internal accruals, Company has availed term loan Rs. 8.5 Crs during the year. Company has repaid term loan of Rs. 7.93 Crs during the year.

Overview:

  • Kriti Industries (India) Ltd is engaged in the pipes business. The Company operates under Plastic segment in over four verticals, such as agriculture, building products, micro irrigation and infrastructure.
  • Its agriculture products include rigid polyvinyl chloride (RPVC) pipe and fittings, casing pipe, polyethylene (PE) coils, sprinkler systems, submersible pipe, suction and garden pipe.
  • Its building products include soil waste rainwater (SWR) drainage pipe and fittings, chlorinated polyvinyl chloride (CPVC) and plumb pipe and fittings, and garden pipe. Its micro irrigation products include micro irrigation lateral (inline and online), sprinkler systems, and RPVC pipe and fittings.
  • Its infrastructure products include RPVC ring fit pipe (elastomeric) and fittings, high-density PE (HDPE) and medium-density PE (MDPE) pipes and fittings, permanently lubricated (PLB) telecom duct and micro duct.
  • Kriti Auto & Engineering Plastics Pvt. Ltd is the wholly owned subsidiary of the Company with a gross turnover of Rs. 19 Crs and a Net Loss of 0.1 Crs.

Management:

  • Shiv Singh Mehta – MD
  •  V. K. Mittal – CFO

Major Non – Promoter Holdings:

Sr.No Non – Promoters No. of shares held % of shares held
1 Snadeep Jhaveri 515095 1.04
2 Rajeev Jawahar 527980 1.06
3 Varsha Shah 548992 1.11
4 Jyoti Kasliwal 661737 1.33
5 Rahul Mehta 683958 1.38
6 Praveen Kasliwal 1022996 2.06
7 Bhavesh Shah 1203944 2.43
8 Chartered Finance & Leasing Ltd 747397 1.51

 

 

Consolidated Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 4.96 4.96 4.96 4.96 4.96 4.96
Networth 55 45 43 40 37 32
Total Debt 55 38 32 37 37 29
Net Sales 481 381 371 334 304 279
Other Income 2 1 1 2 2 2
PAT 10.76 2.08 4.34 3.74 5.76 5.64
Book Value (Rs) 11 9 9 8 7 6
EPS (Rs) 2.17 0.42 0.88 0.75 1.16 1.14

 

The performance of the company was possible due to stability in Raw Material prices and Inventory Management.