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Gokaldas Exports ltd

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Gokaldas Exports ltd


Gokaldas Exports ltd
Other Apparels & Accessories
FV – Rs 5; 52wks H/L –134.2/40.45; TTQ – 3.23 Lacs; CMP – Rs 117.25 (As On June 13,2016 ; 15.00) ;                         

   Market Cap – Rs 400.95 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
17.39 216 1143 61.34 62 17.63 6.65 23.08 1.89 57.44

0.9

 

Consolidated Financials and Valuations for Q4 FY16


Equity Capital


Net worth

Total
Sales
PAT
BV
(Rs)

TTM EPS (Rs)

TTM P/E

Industry P/E

P/BV

Promoter’s
Stake
Beta
17.39 216 318 40.77 62 11.72 10 23.08 1.89 57.44

0.9

 

Valuation Parameters:

  1. Long Term Debt to Equity – Nil
  2. ROE % – 28.4
  3. Market Cap/Sales – 0.35

 

Blackstone sells 10% stake in Gokaldas Exports at huge loss to ICICI Bank.

http://www.vccircle.com/news/textiles/2016/06/10/blackstone-sells-10-stake-gokaldas-exports-huge-loss

 

Order book for Q4FY16 was significantly better driven by penetration into new categories for some existing customers and also aided by unusually high spring summer demand.


The company said it is working towards growing the top-line and improving profitability through various cost optimization initiatives, improvement in efficiency and customer-category portfolio realignment to improve margins.

The company had around 46 factories in 2007 and the factory numbers have come down to 24 as of end of FY16.
In FY16, the company sold one factory to Raymond for Rs 28 crore and the board also approved sale of three other factories in Bengaluru, Hyderabad as well as Mysore.  (http://www.moneycontrol.com/news/stocksnews/trimming-non-core-assets-helps-gokaldas-exports-turnaround_6838861.html

Overview:

  • Gokaldas Exports Ltd (GEL) is one of the leading apparel exporters of India serving large global retailers since its inception in the year 1978.
  • GEL operates from 30units spread across states of Karnataka, Tamil Nadu and Andhra Pradesh and has installed capacity to produce more than2.5 million garments per month.
  • GEL provides employment to 28,000 people.
  • GEL blends its manufacturing expertise with state of the art design capabilities to provide multiproduct offerings; sustained reliability weaved with consistent quality to meet changing demands from customers at right cost: from design to delivery.
  • GEL has a diversified product portfolio across various categories of garments for men, women and children. GEL’s expertise lies in manufacturing outerwear which very few manufacturers in India can match.
  • The principal source of revenue for the Company is from export of garments and related products.
  • The Company’s products include outer wear, mens bottoms, mens tops, womens wear, kids wear, sportswear, denim and formal wear.

 

Bulk Deals:

Date Client Deal Qty Price (Rs.)
10-Jun-16 ICICI Bank Ltd P 3450000 126.2
10-Jun-16 Blackstone FP Capital Partners S 3450000 126.2
02-Jun-16 N.K. SECURITIES P 226972 107.22
02-Jun-16 N.K. SECURITIES S 226972 107.28
01-Jun-16 Arcadia Share & Stock Brokers Pvt.Ltd P 205696 100.96
01-Jun-16 J S L Enterprises P 224750 98.49
01-Jun-16 N. K. Securities P 202443 99.65
01-Jun-16 Arcadia Share & Stock Brokers Pvt.Ltd S 69908 97.75
01-Jun-16 J S L Enterprises S 13500 103.4
01-Jun-16 N. K. Securities S 202853 99.71
31-May-16 BP Fintrade Pvt.Ltd S 214033 86.13
31-May-16 BP Fintrade Pvt.Ltd P 209039 86.05
31-May-16 BP Fintrade Pvt.Ltd P 297153 86.11
31-May-16 BP Fintrade Pvt.Ltd S 281140 86.14
18-Feb-16 Zaki Abbas Nasser P 250000 57.59

 

Management:

  • Mr. Richard B Saldhana – Chairman
  • Mr. P Ramababu – MD
  • Mr. Sumit Keshan – CFO

Subsidiaries: The Company has 13 Subsidiary companies.

The Equity Capital is @ Rs 17.3 Crs consisting of 34789326 equity Shares of FV Rs 5 currently held 

57.44% Of Promoter’s Holding is pledged.

Major Non-Promoter Holdings:

Sr.No Name of the Shareholder No. of Shares held % of shares held
1 ICICI Bank Ltd 1977963 5.69
2 Shinano Retail Pvt.Ltd 1413513 4.07
3 Ojasvi Trading Pvt.Ltd 867000 2.5
  Total 4258476 12.26

 

Consolidated Financial Trends – Amt in Rs Crs except BV.

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 17.4 17.3 17.2 17.2 17.2 17.2
Networth 216 158.8 123.7 124 227.1 368.3
Total Debt 313 289 309 312 250 308
Net Sales 1143 1090.2 1147.1 989.8 1030.2 1161
Other Income 92 83.9 16 9 6 15
PAT 61.34 34.7 -6.7 -109.4 -132.4 -90.1
Book Value (Rs) 62 46 36 36 66 107
EPS (Rs) 17.63 10 -1.95 -31.8 -38.5 -26.2

 

During 2014-15 the company issued 218332 equity shares of face value Rs.5 each.

The company posted 77% jump in its consolidated net profit at Rs. 61 crore against Rs. 35 crore in FY15.

 

 

 

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