New Risk • May 31
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 36% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 20% per year over the past 5 years. High level of non-cash earnings (36% accrual ratio). Market cap is less than US$10m (₹936.1m market cap, or US$9.86m). Minor Risk Share price has been volatile over the past 3 months (9.0% average weekly change). Reported Earnings • May 31
Full year 2026 earnings released: EPS: ₹2.43 (vs ₹3.38 in FY 2025) Full year 2026 results: EPS: ₹2.43 (down from ₹3.38 in FY 2025). Revenue: ₹887.8m (down 36% from FY 2025). Net income: ₹70.6m (down 28% from FY 2025). Profit margin: 8.0% (up from 7.0% in FY 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Ankündigung • May 21
SPL Industries Limited to Report Q4, 2026 Results on May 29, 2026 SPL Industries Limited announced that they will report Q4, 2026 results on May 29, 2026 New Risk • Apr 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 17% per year over the past 5 years. Market cap is less than US$10m (₹922.2m market cap, or US$9.68m). Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹35.18, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 18x in the Luxury industry in India. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹24.76, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 16x in the Luxury industry in India. Total loss to shareholders of 61% over the past three years. Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹0.82 (vs ₹0.10 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.82 (up from ₹0.10 in 3Q 2025). Revenue: ₹212.6m (down 21% from 3Q 2025). Net income: ₹23.8m (up ₹20.8m from 3Q 2025). Profit margin: 11% (up from 1.1% in 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Ankündigung • Feb 05
SPL Industries Limited to Report Q3, 2026 Results on Feb 13, 2026 SPL Industries Limited announced that they will report Q3, 2026 results on Feb 13, 2026 New Risk • Jan 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹896.1m (US$9.94m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 15% per year over the past 5 years. Market cap is less than US$10m (₹896.1m market cap, or US$9.94m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.4% net profit margin). Reported Earnings • Nov 13
Second quarter 2026 earnings released: ₹0.07 loss per share (vs ₹1.37 profit in 2Q 2025) Second quarter 2026 results: ₹0.07 loss per share (down from ₹1.37 profit in 2Q 2025). Revenue: ₹181.0m (down 54% from 2Q 2025). Net loss: ₹1.98m (down 105% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. New Risk • Nov 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.4% Last year net profit margin: 7.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.4% net profit margin). Market cap is less than US$100m (₹1.18b market cap, or US$13.3m). Ankündigung • Nov 05
SPL Industries Limited to Report Q2, 2026 Results on Nov 12, 2025 SPL Industries Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Ankündigung • Sep 02
SPL Industries Limited, Annual General Meeting, Sep 29, 2025 SPL Industries Limited, Annual General Meeting, Sep 29, 2025, at 11:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹40.13, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 24x in the Luxury industry in India. Total loss to shareholders of 37% over the past three years. Reported Earnings • Aug 15
First quarter 2026 earnings released: EPS: ₹0.31 (vs ₹0.89 in 1Q 2025) First quarter 2026 results: EPS: ₹0.31 (down from ₹0.89 in 1Q 2025). Revenue: ₹203.6m (down 52% from 1Q 2025). Net income: ₹9.13m (down 65% from 1Q 2025). Profit margin: 4.5% (down from 6.1% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Ankündigung • Aug 06
SPL Industries Limited to Report Q1, 2026 Results on Aug 13, 2025 SPL Industries Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹45.50, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 26x in the Luxury industry in India. Total loss to shareholders of 8.0% over the past three years. Reported Earnings • May 29
Full year 2025 earnings released: EPS: ₹3.38 (vs ₹4.05 in FY 2024) Full year 2025 results: EPS: ₹3.38 (down from ₹4.05 in FY 2024). Revenue: ₹1.53b (down 23% from FY 2024). Net income: ₹97.9m (down 17% from FY 2024). Profit margin: 6.4% (up from 5.9% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Ankündigung • May 21
SPL Industries Limited to Report Q4, 2025 Results on May 28, 2025 SPL Industries Limited announced that they will report Q4, 2025 results on May 28, 2025 Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹33.30, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 22x in the Luxury industry in India. Total loss to shareholders of 49% over the past three years. Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: ₹0.10 (vs ₹0.64 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.10 (down from ₹0.64 in 3Q 2024). Revenue: ₹297.4m (down 4.8% from 3Q 2024). Net income: ₹3.02m (down 84% from 3Q 2024). Profit margin: 1.0% (down from 6.0% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹45.20, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 25x in the Luxury industry in India. Total loss to shareholders of 21% over the past three years. Ankündigung • Feb 04
SPL Industries Limited to Report Q3, 2025 Results on Feb 12, 2025 SPL Industries Limited announced that they will report Q3, 2025 results on Feb 12, 2025 Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹66.62, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 30x in the Luxury industry in India. Total returns to shareholders of 49% over the past three years. Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: ₹1.37 (vs ₹0.80 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.37 (up from ₹0.80 in 2Q 2024). Revenue: ₹429.8m (up 2.8% from 2Q 2024). Net income: ₹39.7m (up 72% from 2Q 2024). Profit margin: 9.2% (up from 5.5% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Ankündigung • Nov 06
SPL Industries Limited to Report Q2, 2025 Results on Nov 08, 2024 SPL Industries Limited announced that they will report Q2, 2025 results on Nov 08, 2024 Ankündigung • Oct 29
SPL Industries Limited Announces Resignation of Sanjay Gupta as Chief Financial Officer SPL Industries Limited announced that Mr. Sanjay Gupta, Chief Financial Officer (CFO) & Key Managerial Personnel (KMP) of the Company has tendered his resignation vide letter dated 29" October, 2024, citing health concerns and personal reasons. Ankündigung • Aug 28
SPL Industries Limited, Annual General Meeting, Sep 28, 2024 SPL Industries Limited, Annual General Meeting, Sep 28, 2024, at 11:00 Indian Standard Time. Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: ₹0.89 (vs ₹1.15 in 1Q 2024) First quarter 2025 results: EPS: ₹0.89 (down from ₹1.15 in 1Q 2024). Revenue: ₹456.0m (down 21% from 1Q 2024). Net income: ₹25.8m (down 23% from 1Q 2024). Profit margin: 5.7% (down from 5.8% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Ankündigung • Aug 03
SPL Industries Limited to Report Q1, 2025 Results on Aug 13, 2024 SPL Industries Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Additional Non-Executive Independent Director Vikash Jalan was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 29
Full year 2024 earnings released: EPS: ₹4.05 (vs ₹8.22 in FY 2023) Full year 2024 results: EPS: ₹4.05 (down from ₹8.22 in FY 2023). Revenue: ₹2.11b (down 26% from FY 2023). Net income: ₹117.5m (down 51% from FY 2023). Profit margin: 5.6% (down from 8.4% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Ankündigung • May 19
SPL Industries Limited to Report Q4, 2024 Results on May 27, 2024 SPL Industries Limited announced that they will report Q4, 2024 results on May 27, 2024 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹63.15, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 29x in the Luxury industry in India. Total returns to shareholders of 85% over the past three years. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹55.45, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 27x in the Luxury industry in India. Total returns to shareholders of 62% over the past three years. Reported Earnings • Feb 13
Third quarter 2024 earnings released: EPS: ₹0.64 (vs ₹1.69 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.64 (down from ₹1.69 in 3Q 2023). Revenue: ₹340.4m (down 44% from 3Q 2023). Net income: ₹18.6m (down 62% from 3Q 2023). Profit margin: 5.5% (down from 8.1% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Feb 04
SPL Industries Limited to Report Q3, 2024 Results on Feb 12, 2024 SPL Industries Limited announced that they will report Q3, 2024 results on Feb 12, 2024 Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹74.80, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 25x in the Luxury industry in India. Total returns to shareholders of 154% over the past three years. Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: ₹0.80 (vs ₹2.93 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.80 (down from ₹2.93 in 2Q 2023). Revenue: ₹446.8m (down 48% from 2Q 2023). Net income: ₹23.1m (down 73% from 2Q 2023). Profit margin: 5.2% (down from 10.0% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Nov 03
SPL Industries Limited to Report Q2, 2024 Results on Nov 10, 2023 SPL Industries Limited announced that they will report Q2, 2024 results at 12:08 PM, Indian Standard Time on Nov 10, 2023 Ankündigung • Sep 03
SPL Industries Limited, Annual General Meeting, Sep 28, 2023 SPL Industries Limited, Annual General Meeting, Sep 28, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended 31st March, 2023 and the reports of the Board of Directors and Auditors thereon; to consider appointment of a Director in place of Mr. Vijay Kumar Jindal, who retires by rotation and being eligible, offers himself for re-appointment; to ratify the appointment of M/s Raghu Nath Rai and Co., Chartered Accountants (Firm Registration No. 000451N) as Statutory Auditors of the Company for the financial year 2023-24; and to consider other business matters. New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings have declined by 4.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.1% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹1.89b market cap, or US$22.8m). Reported Earnings • Aug 13
First quarter 2024 earnings released: EPS: ₹1.15 (vs ₹2.43 in 1Q 2023) First quarter 2024 results: EPS: ₹1.15 (down from ₹2.43 in 1Q 2023). Revenue: ₹600.4m (down 28% from 1Q 2023). Net income: ₹33.4m (down 53% from 1Q 2023). Profit margin: 5.6% (down from 8.5% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Aug 09
SPL Industries Limited to Report Q1, 2024 Results on Aug 11, 2023 SPL Industries Limited announced that they will report Q1, 2024 results at 12:08 PM, Indian Standard Time on Aug 11, 2023 Reported Earnings • May 23
Full year 2023 earnings released: EPS: ₹8.22 (vs ₹7.27 in FY 2022) Full year 2023 results: EPS: ₹8.22 (up from ₹7.27 in FY 2022). Revenue: ₹2.98b (up 51% from FY 2022). Net income: ₹238.4m (up 13% from FY 2022). Profit margin: 8.0% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹63.65, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 16x in the Luxury industry in India. Total returns to shareholders of 121% over the past three years. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹1.69 (vs ₹1.99 in 3Q 2022) Third quarter 2023 results: EPS: ₹1.69 (down from ₹1.99 in 3Q 2022). Revenue: ₹632.9m (up 17% from 3Q 2022). Net income: ₹49.0m (down 15% from 3Q 2022). Profit margin: 7.7% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Ankündigung • Feb 03
SPL Industries Limited to Report Q3, 2023 Results on Feb 11, 2023 SPL Industries Limited announced that they will report Q3, 2023 results on Feb 11, 2023 Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹60.80, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 15x in the Luxury industry in India. Total returns to shareholders of 84% over the past three years. Reported Earnings • Nov 19
Second quarter 2023 earnings released: EPS: ₹2.93 (vs ₹1.77 in 2Q 2022) Second quarter 2023 results: EPS: ₹2.93 (up from ₹1.77 in 2Q 2022). Revenue: ₹894.5m (up 118% from 2Q 2022). Net income: ₹84.9m (up 65% from 2Q 2022). Profit margin: 9.5% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improved over the past week After last week's 24% share price gain to ₹72.35, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 13x in the Luxury industry in India. Total returns to shareholders of 134% over the past three years. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 18% share price gain to ₹68.45, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 13x in the Luxury industry in India. Total returns to shareholders of 90% over the past three years. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: ₹2.43 (vs ₹1.09 in 1Q 2022) First quarter 2023 results: EPS: ₹2.43 (up from ₹1.09 in 1Q 2022). Revenue: ₹879.9m (up 238% from 1Q 2022). Net income: ₹70.5m (up 123% from 1Q 2022). Profit margin: 8.0% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 15% share price gain to ₹54.65, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 13x in the Luxury industry in India. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 15% share price gain to ₹50.25, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 12x in the Luxury industry in India. Total returns to shareholders of 19% over the past three years. Reported Earnings • Jun 04
Full year 2022 earnings released: EPS: ₹7.27 (vs ₹4.67 in FY 2021) Full year 2022 results: EPS: ₹7.27 (up from ₹4.67 in FY 2021). Revenue: ₹2.08b (up 89% from FY 2021). Net income: ₹210.8m (up 56% from FY 2021). Profit margin: 10% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹51.35, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 12x in the Luxury industry in India. Total returns to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 21% share price gain to ₹67.75, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 12x in the Luxury industry in India. Total returns to shareholders of 42% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 18% share price gain to ₹55.70, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 12x in the Luxury industry in India. Total returns to shareholders of 12% over the past three years. Reported Earnings • Feb 15
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹1.99 (up from ₹0.86 in 3Q 2021). Revenue: ₹541.1m (up 109% from 3Q 2021). Net income: ₹57.6m (up 68% from 3Q 2021). Profit margin: 11% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 22% share price gain to ₹66.75, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 15x in the Luxury industry in India. Total returns to shareholders of 8.8% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 16% share price gain to ₹51.95, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 14x in the Luxury industry in India. Total loss to shareholders of 25% over the past three years. Reported Earnings • Nov 18
Second quarter 2022 earnings released: EPS ₹1.77 (vs ₹1.65 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ₹433.2m (up 25% from 2Q 2021). Net income: ₹51.5m (up 7.4% from 2Q 2021). Profit margin: 12% (down from 14% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 18
First quarter 2022 earnings released: EPS ₹1.09 (vs ₹0.91 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2022 results: Revenue: ₹277.9m (up 22% from 1Q 2021). Net income: ₹31.6m (up 19% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 16% share price gain to ₹61.80, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 20x in the Luxury industry in India. Total returns to shareholders of 158% over the past three years. Reported Earnings • Jun 18
Full year 2021 earnings released: EPS ₹4.67 (vs ₹10.78 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹1.16b (down 35% from FY 2020). Net income: ₹135.5m (down 57% from FY 2020). Profit margin: 12% (down from 18% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improved over the past week After last week's 15% share price gain to ₹43.35, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 18x in the Luxury industry in India. Total returns to shareholders of 83% over the past three years. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improved over the past week After last week's 16% share price gain to ₹38.00, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 16x in the Luxury industry in India. Total returns to shareholders of 52% over the past three years. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS ₹0.86 (vs ₹2.07 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹277.3m (down 12% from 3Q 2020). Net income: ₹34.3m (down 43% from 3Q 2020). Profit margin: 12% (down from 19% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 32% share price gain to ₹49.50, the stock is trading at a trailing P/E ratio of 5.7x, up from the previous P/E ratio of 4.3x. This compares to an average P/E of 20x in the Luxury industry in India. Total returns to shareholders over the past three years are 95%. Is New 90 Day High Low • Jan 04
New 90-day high: ₹36.15 The company is up 23% from its price of ₹29.40 on 06 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Luxury industry, which is up 25% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: ₹32.25 The company is up 11% from its price of ₹29.05 on 04 September 2020. The Indian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 16% over the same period. Is New 90 Day High Low • Oct 08
New 90-day high: ₹31.75 The company is up 7.0% from its price of ₹29.80 on 10 July 2020. The Indian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 17% over the same period.