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:
- Long Term Debt to Equity – 1.84
- ROE % – 53
- 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 |
