Indo Rama Synthetics (India)

BSE:500207

Snowflake Description

Mediocre balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.

500207

BSE

₹9B

Market Cap

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Last updated 2019/02/16 12:40

Company description

Indo Rama Synthetics (India) Limited primarily manufactures and supplies polyester in India, Indonesia, Thailand, the United States, Nepal, and Sri Lanka. The last earnings update was 98 days ago. More info.

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Indo Rama Synthetics (India) has significant price volatility in the past 3 months.

500207 Share Price and Events

7 Day Returns

-0.1%

BSE:500207

-1.4%

IN Luxury

-2.4%

IN Market

1 Year Returns

-4.9%

BSE:500207

-8%

IN Luxury

-8.9%

IN Market

500207 Shareholder Return

	7 Day	30 Day	90 Day	1 Year	3 Year	5 Year
Indo Rama Synthetics (India) (500207)	-0.1%	-8.2%	77.5%	-4.9%	31.5%	114.4%
IN Luxury	-1.4%	-1.1%	-1.9%	-8%	50.1%	192.3%
IN Market	-2.4%	-4.4%	-3.4%	-8.9%	41.8%	80.3%

1 Year Return vs Industry and Market

500207 outperformed the Luxury industry which returned -8% over the past year.
500207 outperformed the Market in India which returned -8.9% over the past year.

Price Volatility

500207

Industry

5yr Volatility vs Market

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500207 Value

Is Indo Rama Synthetics (India) undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.

INTRINSIC VALUE BASED ON FUTURE CASH FLOWS

Here we compare the current share price of Indo Rama Synthetics (India) to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.

Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Indo Rama Synthetics (India).

BSE:500207 Discounted Cash Flow Data Sources
Data Point	Source	Value
Valuation Model		2 Stage Free Cash Flow to Equity
Levered Free Cash Flow	Extrapolated from most recent financials.	See below
Discount Rate (Cost of Equity)	See below	13.5%
Perpetual Growth Rate	10-Year IN Government Bond Rate	7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:500207
Data Point	Calculation/ Source	Result
Risk-Free Rate	10-Year IN Govt Bond Rate	7.6%
Equity Risk Premium	S&P Global	7.5%
Luxury Unlevered Beta	Simply Wall St/ S&P Global	0.57
Re-levered Beta	= Unlevered beta (1 + (1- tax rate) (Debt/Equity)) = 0.575 (1 + (1- 35%) (49.41%))	0.759
Levered Beta	Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm)	0.8
Discount Rate/ Cost of Equity	= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium) = 7.55% + (0.8 * 7.45%)	13.51%

Discounted Cash Flow Calculation for BSE:500207 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Indo Rama Synthetics (India) is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

BSE:500207 DCF 1st Stage: Next 5 year cash flow forecast
	2019	2020	2021	2022	2023
Levered FCF (INR, Millions)	166.89	155.64	145.14	135.35	126.22
Source	Est @ -6.74%	Est @ -6.74%	Est @ -6.74%	Est @ -6.74%	Est @ -6.74%
Present Value Discounted (@ 13.51%)	147.03	120.79	99.24	81.53	66.98
Present value of next 5 years cash flows	₹515.58

BSE:500207 DCF 2nd Stage: Terminal Value
	Calculation	Result
Terminal Value	= FCF₂₀₂₃ × (1 + g) ÷ (Discount Rate – g) = ₹126.22 × (1 + 7.55%) ÷ (13.51% – 7.55%)	₹2,277.72
Present Value of Terminal Value	= Terminal Value ÷ (1 + r)⁵ = ₹2,277.72 ÷ (1 + 13.51%)⁵	₹1,208.73

BSE:500207 Total Equity Value
	Calculation	Result
Total Equity Value	= Present value of next 5 years cash flows + Terminal Value = ₹515.58 + ₹1,208.73	₹1,724.31
Equity Value per Share (INR)	= Total value / Shares Outstanding = ₹1,724.31 / 261.11	₹6.6

BSE:500207 Discount to Share Price
	Calculation	Result
Value per share (INR)	From above.	₹6.60
Current discount	Discount to share price of ₹34.00 = -1 x (₹34.00 - ₹6.60) / ₹6.60	-414.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

The current share price of Indo Rama Synthetics (India) is above its future cash flow value.

Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.

PRICE RELATIVE TO MARKET

We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Indo Rama Synthetics (India)'s earnings, growth and assets is considered below, and whether this is a fair price.

Price based on past earnings

Are Indo Rama Synthetics (India)'s earnings available for a low price, and how does this compare to other companies in the same industry?

Raw Data

BSE:500207 PE (Price to Earnings) Ratio Data Sources
Data Point	Source	Value
Earnings Per Share *	Company Filings (2018-09-30) in INR	₹-7.27
BSE:500207 Share Price **	BSE (2019-02-15) in INR	₹34
India Luxury Industry PE Ratio	Median Figure of 236 Publicly-Listed Luxury Companies	11.58x
India Market PE Ratio	Median Figure of 2,731 Publicly-Listed Companies	15.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Indo Rama Synthetics (India).

BSE:500207 PE (Price to Earnings) Ratio Calculation
	Calculation	Outcome
PE Ratio	= BSE:500207 Share Price ÷ EPS (both in INR) = 34 ÷ -7.27	-4.68x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

Indo Rama Synthetics (India) is loss making, we can't compare its value to the IN Luxury industry average.
Indo Rama Synthetics (India) is loss making, we can't compare the value of its earnings to the India market.

Price based on expected Growth

Does Indo Rama Synthetics (India)'s expected growth come at a high price?

Raw Data

BSE:500207 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point	Source	Value
PE Ratio	See PE Ratio Section	-4.68x
Net Income Annual Growth Rate	See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts	Not available
India Luxury Industry PEG Ratio	Median Figure of 27 Publicly-Listed Luxury Companies	1.11x
India Market PEG Ratio	Median Figure of 606 Publicly-Listed Companies	1.11x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

Unable to calculate PEG ratio for Indo Rama Synthetics (India), we can't assess if its growth is good value.

Price based on value of assets

What value do investors place on Indo Rama Synthetics (India)'s assets?

Raw Data

BSE:500207 PB (Price to Book) Ratio Data Sources
Data Point	Source	Value
Book Value per Share	Company Filings (2018-09-30) in INR	₹24.72
BSE:500207 Share Price *	BSE (2019-02-15) in INR	₹34
India Luxury Industry PB Ratio	Median Figure of 307 Publicly-Listed Luxury Companies	0.7x
India Market PB Ratio	Median Figure of 3,587 Publicly-Listed Companies	1.04x

BSE:500207 PB (Price to Book) Ratio Calculation
	Calculation	Outcome
PB Ratio	= BSE:500207 Share Price ÷ Book Value per Share (both in INR) = 34 ÷ 24.72	1.38x

* Primary Listing of Indo Rama Synthetics (India).

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

Indo Rama Synthetics (India) is overvalued based on assets compared to the IN Luxury industry average.

Value checks

We assess Indo Rama Synthetics (India)'s value by looking at:

Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)

Full details on the Value part of the Simply Wall St company analysis model.

500207 Future Performance

How is Indo Rama Synthetics (India) expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Indo Rama Synthetics (India) has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!

18.2%

Expected Luxury industry annual growth in earnings.

Earnings growth vs Low Risk Savings

Is Indo Rama Synthetics (India) expected to grow at an attractive rate?

Unable to compare Indo Rama Synthetics (India)'s earnings growth to the low risk savings rate as no estimate data is available.

Growth vs Market Checks

Unable to compare Indo Rama Synthetics (India)'s earnings growth to the India market average as no estimate data is available.
Unable to compare Indo Rama Synthetics (India)'s revenue growth to the India market average as no estimate data is available.

Annual Growth Rates Comparison

Raw Data

BSE:500207 Future Growth Rates Data Sources
Data Point	Source	Value (per year)
India Luxury Industry Earnings Growth Rate	Market Cap Weighted Average	18.2%
India Luxury Industry Revenue Growth Rate	Market Cap Weighted Average	15%
India Market Earnings Growth Rate	Market Cap Weighted Average	18.5%
India Market Revenue Growth Rate	Market Cap Weighted Average	11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations

Raw Data

BSE:500207 Analysts Growth Expectations Data Sources
Data Point	Source	Value
Past Financials	Company Filings (4 months ago)	See Below
Future Estimates	Average of up to 0 Analyst Estimates (S&P Global)	See Below

All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.

BSE:500207 Past Financials Data
Date (Data in INR Millions)	Revenue	Cash Flow	Net Income *
2018-09-30	17,941		-1,113
2018-06-30	20,177		-963
2018-03-31	22,556	281	-827
2017-12-31	22,859		-635
2017-09-30	23,333		-822
2017-06-30	24,143		-793
2017-03-31	24,680	392	-803
2016-03-31	25,357	1,269	356

*GAAP earnings excluding extraordinary items.

High Growth Checks

Unable to determine if Indo Rama Synthetics (India) is high growth as no earnings estimate data is available.
Unable to determine if Indo Rama Synthetics (India) is high growth as no revenue estimate data is available.

Past and Future Earnings per Share

The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.

Raw Data

BSE:500207 Past and Future Earnings per Share
Data Point	Source	Value
Past Financials	Company Filings (4 months ago)	See Below
Future Estimates	Average of up to 0 Analyst Estimates (S&P Global)	See Below

All data from Indo Rama Synthetics (India) Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:500207 Past Financials Data
Date (Data in INR Millions)	EPS *
2018-09-30	-7.27
2018-06-30	-6.33
2018-03-31	-5.45
2017-12-31	-4.18
2017-09-30	-5.42
2017-06-30	-5.24
2017-03-31	-5.29
2016-03-31	2.35

*GAAP earnings excluding extraordinary items.

Performance in 3 years

In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.

Unable to establish if Indo Rama Synthetics (India) will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

Take a look at our analysis of 500207’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
Indo Rama Synthetics (India)'s future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Consumer Durables companies here
Indo Rama Synthetics (India)'s competitive advantages and company strategy can generally be found in its financial reports archived here.
Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide

Future performance checks

We assess Indo Rama Synthetics (India)'s future performance by looking at:

Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
Is the annual earnings growth rate expected to be above 20%? (1 check)
Is the annual revenue growth rate expected to be above 20%? (1 check)
Is the Return on Equity in 3 years expected to be over 20%? (1 check)

Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Indo Rama Synthetics (India) has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

500207 Past Performance

How has Indo Rama Synthetics (India) performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.

Past earnings growth

Below we compare Indo Rama Synthetics (India)'s growth in the last year to its industry (Luxury).

Past Earnings growth analysis

We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.

Indo Rama Synthetics (India) does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
Unable to compare Indo Rama Synthetics (India)'s 1-year earnings growth to the 5-year average as it is not currently profitable.
Unable to compare Indo Rama Synthetics (India)'s 1-year growth to the IN Luxury industry average as it is not currently profitable.

Earnings and Revenue History

Indo Rama Synthetics (India)'s revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.

Raw Data

All data from Indo Rama Synthetics (India) Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:500207 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions)	Revenue	Net Income *	G+A Expenses
2018-09-30	17,941.40	-1,113.20	1,031.70
2018-06-30	20,177.40	-963.20	1,073.10
2018-03-31	22,556.40	-826.90	1,089.10
2017-12-31	22,858.70	-634.50	1,084.60
2017-09-30	23,332.80	-821.90	1,115.50
2017-06-30	24,143.40	-792.60	1,029.20
2017-03-31	24,680.40	-802.50	1,132.90
2016-03-31	25,356.60	356.40	1,144.40
2015-03-31	27,150.60	-217.40	977.50
2014-03-31	26,165.50	-135.50	1,490.90
2013-03-31	29,101.30	402.60	1,475.40
2012-12-31	29,957.50	1,147.90	1,543.40
2012-09-30	30,650.70	808.50	1,523.30
2012-06-30	31,022.00	-455.80	1,687.70
2012-03-31	29,688.00	319.60	1,478.80

*GAAP earnings excluding extraordinary items.

Performance last year

We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.

It is difficult to establish if Indo Rama Synthetics (India) has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
It is difficult to establish if Indo Rama Synthetics (India) has efficiently used its assets last year compared to the IN Luxury industry average (Return on Assets) as it is loss-making.
It is difficult to establish if Indo Rama Synthetics (India) improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.

Past performance checks

We assess Indo Rama Synthetics (India)'s performance over the past 5 years by checking for:

Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)

The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Indo Rama Synthetics (India) has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

500207 Health

How is Indo Rama Synthetics (India)'s financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Indo Rama Synthetics (India)'s finances.

The net worth of a company is the difference between its assets and liabilities.

Net Worth

Indo Rama Synthetics (India)'s short term (1 year) commitments are greater than its holdings of cash and other short term assets.
Indo Rama Synthetics (India)'s cash and other short term assets cover its long term commitments.

Balance sheet

This treemap shows a more detailed breakdown of Indo Rama Synthetics (India)'s finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.

Assets

Liabilities and shares

The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.

High level of physical assets or inventory.
Debt is covered by short term assets, assets are 1.5x debt.

Historical Debt

Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.

Raw Data

All data from Indo Rama Synthetics (India) Company Filings, last reported 4 months ago.

BSE:500207 Past Debt and Equity Data
Date (Data in INR Millions)	Total Equity	Total Debt	Cash & Short Term Investments
2018-09-30	3,876.80	4,386.60	1,405.00
2018-06-30	4,196.80	3,664.50	145.40
2018-03-31	4,196.80	3,664.50	145.40
2017-12-31	4,684.10	2,534.90	1,517.00
2017-09-30	4,684.10	2,534.90	1,517.00
2017-06-30	5,017.00	2,487.20	1,468.00
2017-03-31	5,017.00	3,073.10	71.20
2016-03-31	6,016.00	3,210.60	74.40
2015-03-31	5,483.80	5,172.20	720.30
2014-03-31	5,873.40	6,583.40	482.10
2013-03-31	6,277.50	7,134.70	473.40
2012-12-31	6,895.40	4,950.60	697.80
2012-09-30	6,895.40	4,950.60	697.80
2012-06-30	6,196.30	5,872.10	458.00
2012-03-31	6,196.30	5,872.10	458.00

Indo Rama Synthetics (India)'s level of debt (113.2%) compared to net worth is high (greater than 40%).
The level of debt compared to net worth has increased over the past 5 years (112.9% vs 113.2% today).

CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Whilst loss making Indo Rama Synthetics (India) has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
Whilst loss making Indo Rama Synthetics (India) has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 75.3% per year.

Financial health checks

We assess Indo Rama Synthetics (India)'s financial health by checking for:

Are short term assets greater than short term liabilities? (1 check)
Are short term assets greater than long term liabilities? (1 check)
Has the debt to equity ratio increased in the past 5 years? (1 check)
Is the debt to equity ratio over 40%? (1 check)
Is the debt covered by operating cash flow? (1 check)
Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)

For companies that are loss making and have been so on average in the past we replace the last 2 checks with:

Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)

Full details on the Health part of the Simply Wall St company analysis model.

500207 Dividends

What is Indo Rama Synthetics (India)'s current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.

Annual Dividend Income

Current annual income from Indo Rama Synthetics (India) dividends.

If you bought ₹2,000 of Indo Rama Synthetics (India) shares you are expected to receive ₹0 in your first year as a dividend.

Dividend Amount

Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?

Unable to evaluate Indo Rama Synthetics (India)'s dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
Unable to evaluate Indo Rama Synthetics (India)'s dividend against the top 25% market benchmark as the company has not reported any payouts.

Annualized Historical and Future Dividends

It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.

Raw Data

BSE:500207 Annualized Past and Future Dividends
Data Point	Source	Value
Past Annualized Dividend Yield	S&P Global Market Data	See Below
Past Dividends per Share	Company Filings/ Annualized Dividend Payments	See Below
Future Dividends per Share Estimates	Average of up to 0 Analyst Estimates (S&P Global)	See Below
India Luxury Industry Average Dividend Yield	Market Cap Weighted Average of 109 Stocks	0.6%
India Market Average Dividend Yield	Market Cap Weighted Average of 1397 Stocks	1.4%
India Minimum Threshold Dividend Yield	10th Percentile	0.3%
India Bottom 25% Dividend Yield	25th Percentile	0.6%
India Top 25% Dividend Yield	75th Percentile	2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:500207 Past Annualized Dividends Data
Date (Data in ₹)	Dividend per share (annual)	Avg. Yield (%)
2018-02-28	0.000	0.000
2017-11-07	0.000	0.000
2017-08-14	0.000	0.000
2016-05-18	1.000	3.070
2015-07-06	1.000	3.242
2015-05-18	1.000	3.872
2014-07-03	1.000	4.652
2014-05-20	1.000	4.479
2013-06-11	1.000	6.429
2013-05-10	1.000	5.957
2012-06-22	1.000	4.632
2011-08-03	2.000	7.143
2011-02-14	2.000	3.808
2010-11-09	2.000	3.124
2010-01-15	0.000	0.000
2009-10-15	0.000	0.000
2009-06-01	0.000	0.000
2009-02-17	1.000	4.863

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

Unable to perform a dividend volatility check as Indo Rama Synthetics (India) has not reported any payouts.
Unable to verify if Indo Rama Synthetics (India)'s dividend has been increasing as the company has not reported any payouts.

Current Payout to shareholders

What portion of Indo Rama Synthetics (India)'s earnings are paid to the shareholders as a dividend.

Unable to calculate sustainability of dividends as Indo Rama Synthetics (India) has not reported any payouts.

Future Payout to shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.

Income/ dividend checks

We assess Indo Rama Synthetics (India)'s dividend by checking for:

Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
Is current dividend yield above the bottom 25% of dividend payers? (1 check)
Is current dividend yield above the top 25% of dividend payers? (1 check)
Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
If they have paid a dividend for 10 years has it increased in this time? (1 check)
How sustainable is the dividend, can Indo Rama Synthetics (India) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)

Full details on the Dividends part of the Simply Wall St company analysis model.

500207 Management

What is the CEO of Indo Rama Synthetics (India)'s salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.

CEO

Om Lohia

COMPENSATION	₹24,700,000
AGE	69

CEO Bio

Mr. Om Prakash Lohia, B. Com. serves as a Promoter and Managing Director at Indo Rama Synthetics India Ltd. Mr. Lohia served as Chief Financial Officer of Star Ferro and Cement Limited from May 28, 2014 to August 28, 2014. He serves as an Executive Chairman and Managing Director at Indo Rama Textiles imited. He served as the Chief Executive Officer at Indo Rama Synthetics India Ltd. He has been the Chairman at Indo Rama Synthetics India Ltd. since July 21, 2004. He serves as a Director of Maharashtra Airport Development Company Ltd. He has been an Independent Director at Gujarat Fluorochemicals Limited since October 31, 2006. Mr. Lohia has been awarded Udyog Ratna award by Madhya Pradesh Government in 2005. He is Commerce Graduate from the Kolkata University.

CEO Compensation

Om's compensation has been consistent with company performance over the past year.
Om's remuneration is higher than average for companies of similar size in India.

Management Team Tenure

Average tenure and age of the Indo Rama Synthetics (India) management team in years:

4.6

Average Tenure

Average Age

The tenure for the Indo Rama Synthetics (India) management team is about average.

Management Team

Om Lohia

TITLE

Chairman & MD

COMPENSATION

₹25M

AGE

69

Jayantk Sood

51

TENURE

Average tenure and age of the Indo Rama Synthetics (India) board of directors in years:

4.5

Average Tenure

65.5

Average Age

The tenure for the Indo Rama Synthetics (India) board of directors is about average.

Board of Directors

Om Lohia

TITLE

Chairman & MD

COMPENSATION

₹25M

AGE

69

TENURE

14.6 yrs

Vishal Lohia

69

TENURE

4.5 yrs

Suman Khaitan

TITLE

Non-Executive Independent Director

COMPENSATION

₹300K

AGE

59

TENURE

4.5 yrs

Ranjana Agarwal

TITLE

Non-Executive Independent Director

COMPENSATION

₹300K

AGE

62

TENURE

3.6 yrs

Who owns this company?

Recent Insider Trading

No 3 month insider trading information.

Recent Insider Transactions

Announced	Type	Name	Entity	Role		Start	End	Shares	Max Price (₹)	Value (₹)
06. Aug 18	Buy	Om Lohia	Individual			03. Aug 18	03. Aug 18	703	₹27.56	₹19,378

Management checks

We assess Indo Rama Synthetics (India)'s management by checking for:

Is the CEO's compensation unreasonable compared to market cap? (1 check)
Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
Is the average tenure of the management team less than 2 years? (1 check)
Is the average tenure of the board of directors team less than 3 years? (1 check)

Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

500207 News

Simply Wall St News

500207 Company Info

Map

Description

Indo Rama Synthetics (India) Limited primarily manufactures and supplies polyester in India, Indonesia, Thailand, the United States, Nepal, and Sri Lanka. It offers various polyester products, including polyester staple fiber, partially oriented yarn, fully drawn yarn, draw texturized yarn, and polyester chips. The company's products are used in various applications, such as apparel and sportswear, home furnishings and textiles, non-woven, and automotive. It is also involved in the textile and industrial chemical businesses. The company was incorporated in 1986 and is based in Gurgaon, India.

Details

Name:	Indo Rama Synthetics (India) Limited
Ticker:	500207
Exchange:	BSE
Founded:	1986
Market Cap:	₹8,877,847,134
Shares outstanding:	261,113,151
Website:	http://www.indoramaindia.com
Address:	Indo Rama Synthetics (India) Limited DLF Square, 20th Floor, Gurgaon, Haryana, 122002, India

Listings

	Exchange Symbol	Ticker Symbol	Security	Exchange	Country	Currency	Listed on
	BSE	500207	Equity Shares	Mumbai Stock Exchange	IN	INR	22. Mar 2000
	NSEI	INDORAMA	Equity Shares	National Stock Exchange of India	IN	INR	22. Mar 2000

Number of employees

Current staff

1,400

Indo Rama Synthetics (India) employees.

Industry

Industry:	Textiles
Sector:	Consumer Durables

Company Analysis and Financial Data Status

Area	Date (UTC time)
Company Analysis updated:	2019/02/16 12:40
End of day share price update:	2019/02/15 00:00
Last earnings filing:	2018/11/10
Last earnings reported:	2018/09/30
Last annual earnings reported:	2018/03/31

All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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