AYM Syntex Ltd
FV – Rs 10; 52wks H/L – 163.5/39.55; TTQ – 5620; CMP (May 12, 2016) – Rs 103.8;
Market Cap – Rs 407 Crs
Standalone Financials and Valuations for FY16 (Amt in Rs Crs unless specified)
- EV/EBITDA: 4.97
- EV/Share: Rs 134
- EV/Sale: 0.66
- Market Cap/ Sale: 0.51
- Debt to Equity: 0.86
- RoI: 24.74 %
|Date||Company||Client||Transaction||Quantity||Traded Price (Rs)|
|03-Aug-2015||AYM Syntex (BSE)||ASHISH RAMESHCHANDRA KACHOLIA||BUY||289007||130.44|
|31-Jul-2015||AYM Syntex (BSE)||ASHISH RAMESHCHANDRA KACHOLIA||BUY||615143||124.32|
|30-Jul-2015||AYM Syntex (BSE)||ASHISH RAMESHCHANDRA KACHOLIA||BUY||295850||118.08|
|16-Jan-2015||AYM Syntex (BSE)||SOMESH MEHROTRA||BUY||331000||45.78|
|Date||Person||Buy / Sell||Transaction Type||No of Shares||Price (Rs)||Value
|Aug 24, 2015||VLS Capital Ltd||Sell||Market||13,500||130.05||17.56|
|Aug 24, 2015||VLS Capital Ltd||Sell||Market||36,500||130.05||47.47|
|Aug 24, 2015||VLS Capital Ltd||Sell||Market||50,000||130.05||65.03|
|Aug 24, 2015||VLS Capital Ltd||Sell||Market||1,00,000||130.05||130.05|
|Aug 24, 2015||VLS Capital Ltd||Sell||Market||27,000||130.05||35.11|
- VLS Capital held 1.36% stake in the company until September 2015.
Welspun Group is in process of carving out the yarn-spinning business, AYM Syntex, which will be managed by cofounder Rajesh Mandawewala’s elder son Abhishek. Rajesh Mandawewala, group managing director, is in the process of purchasing partner and Chairman BK Goenka’s stake in AYM Syntex. The arrangement shall lead to no change in the current promoter shareholding pattern of the group. Abhishek Mandawewala took over as a whole time director in August 2015. ~ Succession Planning: Welspun Group to hive off yarn-spinning business for next generation
- The company has received approval to do capex up to Rs 75 Crs for de-bottlenecking and building infrastructure such as warehouse for next five years road map. The same has been approved by the Board of Directors on May 6, 2016. ~ AYM Syntex gets nod for capital expenditure worth Rs 75 crore
- AYM Syntex Limited, formerly Welspun Syntex Limited is a manufacturer and exporter of polyester texturized filament yarn and nylon filament yarn.
- The Company operates through Synthetic Yarn segment.
- The Company’s plants are located at Silvassa and Palghar in Thane, India. The Company’s product categories include bulk continuous filament yarn (BCF), polyester partially oriented yarn (POY), polyester fully drawn yarns (FDY), polyester mono filament yarns (PMFY), polyester filament yarn (PFY), polyester draw texturized yarn (DTY/PTY), air textured yarns (PATY) and specialty polyester filament yarns (SPFY).
- Its POY category consists of products, including full dull raw white poy, semi dull raw white poy, bright raw white poy, super bright raw white poy, dope dyed black poy, dope dyed bright poy and bright cationic poy.
- The Company’s PMFY category consists of products, including SEMI DULL Raw White, Bright Trilobal and Dope Dyed.
- The Company is in the process of doubling capacity of BCF yarn, increasing capacity of texturized yarn, and mother yarn.
- Mr B A Kale is the Executive Director and the CEO.
- Mr Abhishek Mandawewala is the Whole Time Director
Shareholding Pattern as on March 31, 2016
The Equity Capital is @Rs 39.24 Crs consisting of 39239568 Equity Shares of FV Rs 10 currently held as under
None of the promoter’s holding is pledged
|Sr No.||Major Non-Promoter||% Stake|
|1||Sanjeev Rajendraprasad Bharadia||1.04|
Share Price Trend
Standalone Financial Trends ~ Amt in Rs Crs
|FY 16||FY 15||FY 14||FY 13||FY 12||FY 11|
|Equity Paid Up||39.24||39.24||39.24||39.24*||23.64||23.64|
|Long Term Debt||167||127||116||95||50||29|
|Book Value (Rs)||49||37||29||28||20||19|
- Networth grew at a CAGR of 17.43% over the last six years while Total sales grew at a CAGR of 8% over the same period. PAT has grown at a CAGR of 24.32% in the same period.
- *The Company had allotted 16000000 6% Optionally Convertible Cumulative Preference Shares of Rs 10 each at par to Krishiraj Trading Limited, promoter of the Company, which is to be converted into Equity Shares at any time within 18 months from the date of allotment @ Rs. 10.26 per share. The above shares were converted into 15594541 Equity shares at Rs. 10.26 per share on March 22, 2013. The paid up equity share capital thus increased from Rs 23.64 Crs in FY 12 to Rs 39.24 Crs in FY 13.
- **Turnover of the Company reduced due to reduction in price of raw materials and finished goods following slash in price of crude oil. Concentration on high margin products, development of new products and production of BCF yarn coupled with reduction in prices of raw materials following slash in price of crude oil has increased profitabilityof the Company.