Board Change • Aug 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Non-Executive Independent Director Udeypaul Gill was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annonce • Jul 31
Banswara Syntex Limited Appoints Udeypaul Singh Gill as Non-Executive Independent Director Banswara Syntex Limited at its 50th Annual General Meeting held on July 30, 2026 approved to appoint Mr. Udeypaul Singh Gill (DIN: 00004340) as Non-Executive Independent Director of the Company. Annonce • Jul 27
Banswara Syntex Limited to Report Q1, 2027 Results on Jul 31, 2026 Banswara Syntex Limited announced that they will report Q1, 2027 results on Jul 31, 2026 Reported Earnings • Jul 08
Full year 2026 earnings released: EPS: ₹9.11 (vs ₹6.47 in FY 2025) Full year 2026 results: EPS: ₹9.11 (up from ₹6.47 in FY 2025). Revenue: ₹13.6b (up 4.9% from FY 2025). Net income: ₹312.0m (up 41% from FY 2025). Profit margin: 2.3% (up from 1.7% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Annonce • Jul 06
Banswara Syntex Limited, Annual General Meeting, Jul 30, 2026 Banswara Syntex Limited, Annual General Meeting, Jul 30, 2026, at 17:00 Indian Standard Time. Reported Earnings • May 21
Full year 2026 earnings released: EPS: ₹9.11 (vs ₹6.47 in FY 2025) Full year 2026 results: EPS: ₹9.11 (up from ₹6.47 in FY 2025). Revenue: ₹13.7b (up 6.0% from FY 2025). Net income: ₹312.0m (up 41% from FY 2025). Profit margin: 2.3% (up from 1.7% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. New Risk • Feb 12
New major risk - Revenue and earnings growth Earnings have declined by 6.5% 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 Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings have declined by 6.5% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₹4.10b market cap, or US$45.2m). Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹120, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 18x in the Luxury industry in India. Total loss to shareholders of 11% over the past three years. Reported Earnings • Nov 11
Second quarter 2026 earnings released: EPS: ₹2.07 (vs ₹1.47 in 2Q 2025) Second quarter 2026 results: EPS: ₹2.07 (up from ₹1.47 in 2Q 2025). Revenue: ₹3.48b (up 1.4% from 2Q 2025). Net income: ₹70.8m (up 41% from 2Q 2025). Profit margin: 2.0% (up from 1.5% in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Aug 07
First quarter 2026 earnings released: ₹0.40 loss per share (vs ₹0.33 profit in 1Q 2025) First quarter 2026 results: ₹0.40 loss per share (down from ₹0.33 profit in 1Q 2025). Revenue: ₹3.10b (up 14% from 1Q 2025). Net loss: ₹13.7m (down 222% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 18
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 23 July 2025. Payment date: 28 August 2025. Payout ratio is a comfortable 15% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.6%). Declared Dividend • Jul 04
Dividend of ₹1.00 announced Dividend of ₹1.00 is the same as last year. Ex-date: 23rd July 2025 Payment date: 29th August 2025 Dividend yield will be 0.6%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by earnings (15% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 83% to shift the payout ratio to a potentially unsustainable range, which is more than the 16% EPS decline seen over the last 5 years. Reported Earnings • May 16
Full year 2025 earnings released: EPS: ₹6.47 (vs ₹10.38 in FY 2024) Full year 2025 results: EPS: ₹6.47 (down from ₹10.38 in FY 2024). Revenue: ₹13.1b (up 3.5% from FY 2024). Net income: ₹221.6m (down 38% from FY 2024). Profit margin: 1.7% (down from 2.8% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Annonce • May 15
Banswara Syntex Limited Recommends Final Dividend for the Financial Year Ended March 31, 2025 Banswara Syntex Limited recommended Final Dividend of INR 1 per equity share of INR 5 each for the financial year ended 31 March, 2025. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹156, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 24x in the Luxury industry in India. Total returns to shareholders of 46% over the past three years. Annonce • May 10
Banswara Syntex Limited to Report Q4, 2025 Results on May 15, 2025 Banswara Syntex Limited announced that they will report Q4, 2025 results on May 15, 2025 Annonce • Apr 14
Banswara Syntex Limited Appoints Marazban Velati as Chief Human Resources Officer, Effective April 14, 2025 Banswara Syntex Limited announced that based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors, approved the appointment of Mr. Marazban Velati as Chief Human Resources Officer of the Company with effect from April 14, 2025 under category of Senior Management Personnel. Mr. Marazban Velati is B.Tech in Electronics engineering, PG in Industrial relations, and a PG in T&D. He is an Industrial Psychologist and also an Auditor for SA8000 (Certified) along with other management practices including Environment and Energy. He is an HR Generalist with over 25 years of experience in manufacturing set up, a Change Management & Sustainability Expert. His passion is to help organizations restructure their HR interventions and seek to align it as a core management function for business growth and stability. He has worked with organizations like Alok Industries Ltd, Sutlej Textiles and Industries Ltd., Welspun India Ltd, Maral Overseas Ltd, Ispat Industries Ltd. etc. Annonce • Mar 24
Banswara Syntex Limited Appoints Rahul Narendra Mehta as Non- Executive Independent Director In furtherance to letter dated 29th January, 2025 regarding appointment of Mr. Rahul Narendra Mehta as an Additional Director in the category of Non-Executive Independent Director with effect from 29th January, 2025, the company would like to inform that the shareholders of Banswara Syntex Limited vide postal ballot notice dated 29th January, 2025, has with requisite majority approved the appointment of Mr. Rahul Narendra Mehta as a Non-Executive Independent Director of the company. The resolution is deemed to have been passed on March 22, 2025 being last date for remote e-voting which ended at 5:00 pm. Mr. Rahul Narendra Mehta is Commerce Graduate (B. Com) and has completed MBA from Jamnalal Bajaj Institute in 1971. Mr. Rahul Narendra Mehta has over 40 years of experience in the Garment Industry. He joined the Creative Group as Partner and Managing Director in 1982. He was responsible for the Group launching some of the most iconic Brands in the Domestic Industry including UFO Jeans, Creative Cottons, 109F, Fusion Beats, Portico, and Urban Republic. He is also on the board of Nandan Denims Ltd. as an Independent Director. He has been the Past President of the Clothing Manufacturers Association of India (CMAI) for 15 years, he is currently the Chief Mentor to CMAI since 2020. He is also the Past President of the International Apparel Federation (IAF) based out of Netherlands. He is the first Indian to be elected as President of the IAF, and only the second Asian to be in this position in the 40 years history of IAF. He is actively involved in Education, and is Chairman, Advisory Board, School of Fashion Technology, Pune, and passionately committed to the evolving trend of Sustainability in the Domestic Garment Industry. Board Change • Feb 17
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Executive Independent Director Ajay Sharma was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 30
Third quarter 2025 earnings released: EPS: ₹2.96 (vs ₹2.44 in 3Q 2024) Third quarter 2025 results: EPS: ₹2.96 (up from ₹2.44 in 3Q 2024). Revenue: ₹3.41b (up 13% from 3Q 2024). Net income: ₹101.4m (up 21% from 3Q 2024). Profit margin: 3.0% (up from 2.8% in 3Q 2024). The increase in margin was driven by higher revenue. 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 2% per year, which means it has not declined as severely as earnings. Annonce • Jan 29
Banswara Syntex Limited Announces Cessation of David Vlerick as Independent Director, Effective 13 February, 2025 Banswara Syntex Limited at its board of directors meeting held on January 29, 2025, announced that Mr. David Vlerick, Independent Director was appointed at 44th AGM of the Company as an Independent Director of the Company to hold office for consecutive term of 5 years with effect from 14 February, 2020 to 13 February, 2025. Accordingly, ceases to be Independent Director of the Company from the close of the business hours on 13 February, 2025, upon completion of tenure of five consecutive years. Annonce • Jan 22
Banswara Syntex Limited to Report Q3, 2025 Results on Jan 29, 2025 Banswara Syntex Limited announced that they will report Q3, 2025 results on Jan 29, 2025 Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹162, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 29x in the Luxury industry in India. Total returns to shareholders of 36% over the past three years. Reported Earnings • Nov 06
Second quarter 2025 earnings released: EPS: ₹1.47 (vs ₹2.67 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.47 (down from ₹2.67 in 2Q 2024). Revenue: ₹3.45b (up 9.4% from 2Q 2024). Net income: ₹50.2m (down 45% from 2Q 2024). Profit margin: 1.5% (down from 2.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Annonce • Nov 05
Banswara Syntex Limited Announces Management Changes Banswara Syntex Limited at its board meeting held on 5 November 2024 approved the appointment of Mr. Ketan Kumar Dave as a Company Secretary cum Compliance Officer (Key Managerial Personnel) of the Company with effect from 5 November 2024; approved the appointment of Mr. Amit Nandwana as Chief Technical Officer of the Company with effect from 5 November 2024 under category of Senior Management Personnel; and approved Cessation of Dr. Vaijayanti Ajit Pandit as an Independent Director on Completing Her 2nd Consecutive Term Dr. Vaijayanti Ajit Pandit, Independent Director was re-appointed at 43rd AGM of the Company as an Independent Director of the Company to hold office for second consecutive term of 5 (five) years with effect from 12 November, 2019 to 11 November, 2024. Mr. Ketan Kumar Dave (Aged 31 years) is a qualified Company Secretary and an Associate Member of ICSI having 7 years of professional experience. He has done his graduation in Commerce (B. Com) and Law (LLB) from Rajasthan University. Mr. Dave is working with Secretarial & Legal Dept of Banswara Group of Companies since October, 2021 and has independently handled the compliance & secretarial function of Tesca Textiles & Seat Components (India) Private Limited, Joint Venture company and has been transferred to Banswara Syntex Ltd. since April, 2023. Prior to joining Banswara Group, Mr. Dave was a Practicing Company Secretary for 4 years since 2017 and also has worked with M/s. Unique Organics Ltd., a BSE Listed and Jaipur based animal feed and spices export company for 18 months since January, 2015. Mr. Amit Nandwana (Aged 47 years) has done his MBA from Nagpur University and is a progressive leader with 24 years of experience excelling in managing complex technical environments in areas of expertise including software development, solution architecture, digital transformation, IT infrastructure, ERP/CRM consulting, project/program management. Mr. Nandwana has built, develop and lead high-performance technical teams, effectively managing resources in-person and remotely across multiple geographical locations. He has excelled in driving forward the digitalization of business processes (GTM) and data-driven decision- making processes with the right change and transformative implementation using the process of lean, mean, and clean. Further, Mr. Nandwana is a technical expertise to translate technology needs into innovative solutions and business plans that enable the achievement of short- and long-term objectives. Annonce • Oct 29
Banswara Syntex Limited to Report Q2, 2025 Results on Nov 05, 2024 Banswara Syntex Limited announced that they will report Q2, 2025 results on Nov 05, 2024 Annonce • Aug 07
Banswara Syntex Limited Announces Change of Company Secretary The Board of Directors of Banswara Syntex Limited at its meeting held on 6th August, 2024, informed that Shri H P Kharwal has resigned from the position of Company Secretary cum Compliance Officer and General Manager - (Legal) of the company with effects from close of business on 30th August, 2024 for better prospects. The Board of Directors of the Company also approved based on the recommendation of the Nomination and Remuneration Committee, the appointment of Shri B.C. Kaushik, as Unit Head - Spinning under category of Head Senior Management Personnel of the Company effective 6th August, 2024. Shri B.C. Kaushik has an academic qualification of B.Sc. from MDU, Rohtak and a professional qualification B. Text (TT) from T.I.T. Bhiwani. He has joined as the Unit Head - Spinning at Banswara Syntex Limited effective 6th August, 2024. Shri Kaushik brings with him a wealth of experience and expertise, having held senior positions at GIS Cotton Mill, Banswara Syntex, and other renowned textile companies. His impressive track record includes significant improvements in productivity, quality control, and operational efficiency. Annonce • Jul 30
Banswara Syntex Limited to Report Q1, 2025 Results on Aug 06, 2024 Banswara Syntex Limited announced that they will report Q1, 2025 results on Aug 06, 2024 Declared Dividend • Jul 17
Dividend of ₹1.00 announced Shareholders will receive a dividend of ₹1.00. Ex-date: 30th July 2024 Payment date: 5th September 2024 Dividend yield will be 0.6%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 7.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 16
Full year 2024 earnings released: EPS: ₹10.38 (vs ₹32.94 in FY 2023) Full year 2024 results: EPS: ₹10.38 (down from ₹32.94 in FY 2023). Revenue: ₹12.6b (down 16% from FY 2023). Net income: ₹355.4m (down 69% from FY 2023). Profit margin: 2.8% (down from 7.5% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Annonce • Jul 15
Banswara Syntex Limited, Annual General Meeting, Aug 06, 2024 Banswara Syntex Limited, Annual General Meeting, Aug 06, 2024, at 16:30 Indian Standard Time. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹173, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 29x in the Luxury industry in India. Total returns to shareholders of 111% over the past three years. Reported Earnings • May 12
Full year 2024 earnings released: EPS: ₹10.38 (vs ₹32.94 in FY 2023) Full year 2024 results: EPS: ₹10.38 (down from ₹32.94 in FY 2023). Revenue: ₹12.8b (down 14% from FY 2023). Net income: ₹355.4m (down 69% from FY 2023). Profit margin: 2.8% (down from 7.5% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 06
Banswara Syntex Limited to Report Fiscal Year 2024 Results on May 11, 2024 Banswara Syntex Limited announced that they will report fiscal year 2024 results at 3:30 PM, Indian Standard Time on May 11, 2024 Annonce • Mar 13
Banswara Syntex Limited Approves Appointment of Narendra Ambwani as Independent Director Banswara Syntex Limited announced at its meeting held on March 11, 2024 approved the appointment of Shri Narendra Ambwani as an Independent Director. Reported Earnings • Jan 31
Third quarter 2024 earnings released: EPS: ₹2.44 (vs ₹8.67 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.44 (down from ₹8.67 in 3Q 2023). Revenue: ₹3.02b (down 18% from 3Q 2023). Net income: ₹83.6m (down 72% from 3Q 2023). Profit margin: 2.8% (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 48% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Annonce • Jan 23
Banswara Syntex Limited to Report Q3, 2024 Results on Jan 29, 2024 Banswara Syntex Limited announced that they will report Q3, 2024 results on Jan 29, 2024 Recent Insider Transactions • Dec 09
MD & Whole Time Director recently sold ₹84m worth of stock On the 6th of December, Ravindra Toshniwal sold around 600k shares on-market at roughly ₹140 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Ravindra's only on-market trade for the last 12 months. Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: ₹2.67 (vs ₹10.40 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.67 (down from ₹10.40 in 2Q 2023). Revenue: ₹3.18b (down 22% from 2Q 2023). Net income: ₹91.3m (down 74% from 2Q 2023). Profit margin: 2.9% (down from 8.8% 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 64% per year whereas the company’s share price has increased by 59% per year. Annonce • Oct 31
Banswara Syntex Limited to Report Q2, 2024 Results on Nov 06, 2023 Banswara Syntex Limited announced that they will report Q2, 2024 results on Nov 06, 2023 Annonce • Jul 30
Banswara Syntex Limited to Report Q1, 2024 Results on Aug 06, 2023 Banswara Syntex Limited announced that they will report Q1, 2024 results on Aug 06, 2023 Upcoming Dividend • Jul 21
Upcoming dividend of ₹3.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 04 September 2023. Payout ratio is a comfortable 9.1% but the company is not cash flow positive. Trailing yield: 2.0%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.5%). Reported Earnings • Jul 14
Full year 2023 earnings released: EPS: ₹32.94 (vs ₹13.33 in FY 2022) Full year 2023 results: EPS: ₹32.94 (up from ₹13.33 in FY 2022). Revenue: ₹15.0b (up 26% from FY 2022). Net income: ₹1.13b (up 147% from FY 2022). Profit margin: 7.5% (up from 3.8% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jul 12
Banswara Syntex Limited, Annual General Meeting, Aug 05, 2023 Banswara Syntex Limited, Annual General Meeting, Aug 05, 2023, at 17:00 Indian Standard Time. Location: Industrial Area, Dahod Road, Post Box No. 21 Banswara 327001 (Rajasthan) Banswara Rajasthan India Agenda: To consider and approve the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2023 together with the reports of the Board of Directors and Auditors thereon; to consider and to declare final dividend on Equity Shares for the financial year ended 31st March, 2023; and to consider other matters. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹183, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 20x in the Luxury industry in India. Total returns to shareholders of 372% over the past three years. Reported Earnings • May 17
Full year 2023 earnings released: EPS: ₹32.93 (vs ₹13.33 in FY 2022) Full year 2023 results: EPS: ₹32.93 (up from ₹13.33 in FY 2022). Revenue: ₹15.1b (up 27% from FY 2022). Net income: ₹1.13b (up 147% from FY 2022). Profit margin: 7.4% (up from 3.8% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹135, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 16x in the Luxury industry in India. Total returns to shareholders of 287% over the past three years. Recent Insider Transactions • Feb 23
Insider recently sold ₹2.2m worth of stock On the 16th of February, Udit Toshniwal sold around 16k shares on-market at roughly ₹141 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹5.7m. Insiders have been net sellers, collectively disposing of ₹91m more than they bought in the last 12 months. Reported Earnings • Feb 17
Third quarter 2023 earnings released: EPS: ₹8.67 (vs ₹3.48 in 3Q 2022) Third quarter 2023 results: EPS: ₹8.67 (up from ₹3.48 in 3Q 2022). Revenue: ₹3.68b (up 21% from 3Q 2022). Net income: ₹296.7m (up 149% from 3Q 2022). Profit margin: 8.1% (up from 3.9% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Annonce • Feb 14
Banswara Syntex Limited Announces Resignation of Pankaj Prakash Gharat as Chief Financial Officer Banswara Syntex Limited announced that Shri Pankaj Prakash Gharat, Chief Financial Officer of the Company has tendered his resignation on 13th February, 2023 from the services of the Company and the same has been accepted. He will be relieved from the services of the Company effective from 28th February, 2023 after the closure of the business hours. Annonce • Feb 07
Banswara Syntex Limited to Report Q3, 2023 Results on Feb 13, 2023 Banswara Syntex Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹142, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 15x in the Luxury industry in India. Total returns to shareholders of 135% over the past three years. Recent Insider Transactions • Jan 01
Insider recently sold ₹2.3m worth of stock On the 26th of December, Udit Toshniwal sold around 20k shares on-market at roughly ₹115 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹6.6m. Insiders have been net sellers, collectively disposing of ₹88m more than they bought in the last 12 months. Recent Insider Transactions • Dec 21
Vice President of Business Development recently sold ₹4.8m worth of stock On the 14th of December, Dhruv Ravindra Toshniwal sold around 37k shares on-market at roughly ₹130 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹85m more than they bought in the last 12 months. Recent Insider Transactions • Dec 14
Insider recently sold ₹1.8m worth of stock On the 6th of December, Udit Toshniwal sold around 15k shares on-market at roughly ₹120 per share. This transaction amounted to 8.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹81m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improved over the past week After last week's 15% share price gain to ₹134, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 16x in the Luxury industry in India. Total returns to shareholders of 224% over the past three years. Recent Insider Transactions • Dec 07
Vice President of Business Development recently sold ₹5.7m worth of stock On the 29th of November, Dhruv Ravindra Toshniwal sold around 50k shares on-market at roughly ₹115 per share. This transaction amounted to 57% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹79m more than they bought in the last 12 months. Recent Insider Transactions • Nov 20
Vice President of Business Development recently sold ₹5.0m worth of stock On the 14th of November, Dhruv Ravindra Toshniwal sold around 45k shares on-market at roughly ₹111 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹54m more than they bought in the last 12 months. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹10.40 (vs ₹3.38 in 2Q 2022) Second quarter 2023 results: EPS: ₹10.40 (up from ₹3.38 in 2Q 2022). Revenue: ₹4.06b (up 32% from 2Q 2022). Net income: ₹356.1m (up 208% from 2Q 2022). Profit margin: 8.8% (up from 3.8% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 10 highly experienced directors. Independent Director David Vlerick was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: ₹10.40 (vs ₹3.38 in 2Q 2022) Second quarter 2023 results: EPS: ₹10.40 (up from ₹3.38 in 2Q 2022). Revenue: ₹4.08b (up 33% from 2Q 2022). Net income: ₹356.1m (up 208% from 2Q 2022). Profit margin: 8.7% (up from 3.8% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 19% share price gain to ₹118, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 14x in the Luxury industry in India. Total returns to shareholders of 158% over the past three years. Recent Insider Transactions • Oct 18
Vice President of Business Development recently sold ₹2.9m worth of stock On the 12th of October, Dhruv Ravindra Toshniwal sold around 30k shares on-market at roughly ₹97.32 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹49m more than they bought in the last 12 months. Recent Insider Transactions • Oct 01
Insider recently sold ₹2.8m worth of stock On the 23rd of September, Navnita Mehra sold around 27k shares on-market at roughly ₹104 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹10m. Insiders have been net sellers, collectively disposing of ₹21m more than they bought in the last 12 months. Recent Insider Transactions • Sep 28
Insider recently sold ₹1.6m worth of stock On the 19th of September, Navnita Mehra sold around 14k shares on-market at roughly ₹110 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹10m. Insiders have been net sellers, collectively disposing of ₹18m more than they bought in the last 12 months. Recent Insider Transactions • Sep 07
Insider recently sold ₹4.8m worth of stock On the 2nd of September, Navnita Mehra sold around 20k shares on-market at roughly ₹238 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹6.4m more than they bought in the last 12 months. Recent Insider Transactions • Aug 27
Insider recently sold ₹1.6m worth of stock On the 24th of August, Navnita Mehra sold around 6k shares on-market at roughly ₹254 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Jul 14
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 29 August 2022. Payout ratio is a comfortable 9.4% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.8%). Higher than average of industry peers (0.6%). Reported Earnings • Jul 08
Full year 2022 earnings released: EPS: ₹26.65 (vs ₹8.48 in FY 2021) Full year 2022 results: EPS: ₹26.65 (up from ₹8.48 in FY 2021). Revenue: ₹11.9b (up 51% from FY 2021). Net income: ₹456.2m (up 214% from FY 2021). Profit margin: 3.8% (up from 1.8% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₹212, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 12x in the Luxury industry in India. Total returns to shareholders of 221% over the past three years. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹231, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 12x in the Luxury industry in India. Total returns to shareholders of 319% over the past three years. Reported Earnings • May 05
Full year 2022 earnings released: EPS: ₹26.65 (vs ₹8.48 in FY 2021) Full year 2022 results: EPS: ₹26.65 (up from ₹8.48 in FY 2021). Revenue: ₹12.1b (up 53% from FY 2021). Net income: ₹456.2m (up 214% from FY 2021). Profit margin: 3.8% (up from 1.8% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 9 highly experienced directors. Independent Director David Vlerick was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 22% share price gain to ₹257, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 12x in the Luxury industry in India. Total returns to shareholders of 291% 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 21% share price gain to ₹228, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 12x in the Luxury industry in India. Total returns to shareholders of 234% over the past three years. Reported Earnings • Feb 07
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹6.95 (up from ₹6.93 in 3Q 2021). Revenue: ₹3.03b (up 34% from 3Q 2021). Net income: ₹119.0m (flat on 3Q 2021). Profit margin: 3.9% (down from 5.3% 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 9% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. 
