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BSL

BSE:514045
Snowflake Description

Adequate balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
514045
BSE
₹464M
Market Cap
  1. Home
  2. IN
  3. Consumer Durables
Company description

BSL Limited, a textile company, manufactures and sells fashion fabrics and yarns in India. The last earnings update was 38 days ago. More info.


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514045 Share Price and Events
7 Day Returns
-1.9%
BSE:514045
0.7%
IN Luxury
0.4%
IN Market
1 Year Returns
-18.2%
BSE:514045
1.3%
IN Luxury
2%
IN Market
514045 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BSL (514045) -1.9% 3.1% 3.3% -18.2% -20.6% 168.2%
IN Luxury 0.7% 9.1% 6.8% 1.3% 54.4% 182.9%
IN Market 0.4% 9.1% 1.8% 2% 43.6% 80.4%
1 Year Return vs Industry and Market
  • 514045 underperformed the Luxury industry which returned 1.3% over the past year.
  • 514045 underperformed the Market in India which returned 2% over the past year.
Price Volatility
514045
Industry
5yr Volatility vs Market
Related Companies

Value

 Is BSL 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 BSL 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 BSL.

BSE:514045 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 22.9%
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:514045
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.686 (1 + (1- 35%) (334.11%))
1.787
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.79
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.787 * 8.6%)
22.92%

Discounted Cash Flow Calculation for BSE:514045 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BSL is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

BSE:514045 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 22.92%)
2019 89.52 Est @ 12.75% 72.83
2020 99.53 Est @ 11.19% 65.88
2021 109.58 Est @ 10.1% 59.00
2022 119.81 Est @ 9.33% 52.48
2023 130.35 Est @ 8.8% 46.45
2024 141.33 Est @ 8.42% 40.98
2025 152.86 Est @ 8.16% 36.06
2026 165.06 Est @ 7.98% 31.67
2027 178.01 Est @ 7.85% 27.79
2028 191.83 Est @ 7.76% 24.36
Present value of next 10 years cash flows ₹457.50
BSE:514045 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹191.83 × (1 + 7.55%) ÷ (22.92% – 7.55%)
₹1,342.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹1,342.43 ÷ (1 + 22.92%)10
₹170.50
BSE:514045 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹457.50 + ₹170.50
₹628.00
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹628.00 / 10.29
₹61.01
BSE:514045 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹61.01
Current discount Discount to share price of ₹45.05
= -1 x (₹45.05 - ₹61.01) / ₹61.01
26.2%

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

Current Discount
Amount off the current price BSL is available for.
Intrinsic value
26%
Share price is ₹45.05 vs Future cash flow value of ₹61.01
Current Discount Checks
For BSL to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BSL's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • BSL's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 BSL's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BSL's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:514045 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹1.35
BSE:514045 Share Price ** BSE (2019-03-20) in INR ₹45.05
India Luxury Industry PE Ratio Median Figure of 239 Publicly-Listed Luxury Companies 12.3x
India Market PE Ratio Median Figure of 2,730 Publicly-Listed Companies 16.4x

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

** Primary Listing of BSL.

BSE:514045 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:514045 Share Price ÷ EPS (both in INR)

= 45.05 ÷ 1.35

33.43x

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

  • BSL is overvalued based on earnings compared to the IN Luxury industry average.
  • BSL is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does BSL's expected growth come at a high price?
Raw Data
BSE:514045 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
19.2%per year
India Luxury Industry PEG Ratio Median Figure of 26 Publicly-Listed Luxury Companies 1.52x
India Market PEG Ratio Median Figure of 596 Publicly-Listed Companies 1.27x

*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 BSL, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on BSL's assets?
Raw Data
BSE:514045 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹74.29
BSE:514045 Share Price * BSE (2019-03-20) in INR ₹45.05
India Luxury Industry PB Ratio Median Figure of 310 Publicly-Listed Luxury Companies 0.77x
India Market PB Ratio Median Figure of 3,617 Publicly-Listed Companies 1.12x
BSE:514045 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:514045 Share Price ÷ Book Value per Share (both in INR)

= 45.05 ÷ 74.29

0.61x

* Primary Listing of BSL.

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

  • BSL is good value based on assets compared to the IN Luxury industry average.
X
Value checks
We assess BSL's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)
  5. BSL has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is BSL expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover BSL, future earnings growth has been estimated based on fundamentals.
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!
Annual Growth Rate
19.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BSL expected to grow at an attractive rate?
  • BSL's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • BSL's earnings growth is expected to exceed the India market average.
  • Unable to compare BSL's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BSE:514045 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:514045 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 19.2%
India Luxury Industry Earnings Growth Rate Market Cap Weighted Average 18.3%
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 11.9%

*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:514045 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 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:514045 Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
BSE:514045 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 4,443 14
2018-09-30 4,318 15
2018-06-30 4,147 13
2018-03-31 4,027 375 10
2017-12-31 4,266 27
2017-09-30 4,430 36
2017-06-30 4,573 53
2017-03-31 4,399 110 59
2016-12-31 4,130 51
2016-09-30 3,986 50
2016-06-30 3,823 50
2016-03-31 3,783 440 71

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BSL's earnings are expected to grow by 19.2% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if BSL 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:514045 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from BSL Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:514045 Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
BSE:514045 Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 1.35
2018-09-30 1.43
2018-06-30 1.26
2018-03-31 1.00
2017-12-31 2.59
2017-09-30 3.49
2017-06-30 5.10
2017-03-31 5.76
2016-12-31 5.01
2016-09-30 4.89
2016-06-30 4.88
2016-03-31 6.92

*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 BSL will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess BSL's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. 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.
BSL has a total score of 2/6, 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.

Past Performance

  How has BSL 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 BSL'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.
  • BSL's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • BSL's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • BSL's 1-year earnings growth is negative, it can't be compared to the IN Luxury industry average.
Earnings and Revenue History
BSL'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 BSL Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:514045 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 4,442.61 13.77 649.31
2018-09-30 4,318.11 14.67 647.81
2018-06-30 4,147.00 13.00 628.70
2018-03-31 4,026.81 10.27 648.31
2017-12-31 4,266.15 26.70 669.85
2017-09-30 4,430.35 35.90 660.65
2017-06-30 4,573.40 52.50 624.90
2017-03-31 4,398.83 59.24 604.36
2016-12-31 4,129.81 51.48 605.35
2016-09-30 3,985.91 50.28 593.35
2016-06-30 3,823.20 50.30 565.90
2016-03-31 3,782.71 71.18 569.99
2015-12-31 3,749.74 75.83 943.12
2015-09-30 3,748.54 91.73 922.62
2015-06-30 3,753.70 96.10 493.90
2015-03-31 3,798.84 71.93 491.10
2014-12-31 3,757.18 55.74 857.95
2014-09-30 3,762.48 42.54 848.95
2014-06-30 3,618.88 34.54 838.35
2014-03-31 3,381.38 33.64 830.35
2013-12-31 3,249.81 32.36 815.26
2013-09-30 2,998.51 20.76 803.96
2013-06-30 2,951.10 25.00 407.30
2013-03-31 2,951.51 3.46 787.30
2012-12-31 3,036.94 17.07 759.58
2012-09-30 3,005.54 -1.13 752.48
2012-06-30 3,039.90 -20.40 373.80
2012-03-31 3,036.34 1.27 735.08

*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.
  • BSL has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BSL used its assets less efficiently than the IN Luxury industry average last year based on Return on Assets.
  • BSL's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess BSL's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. 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.
BSL 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.

Health

 How is BSL'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 BSL's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BSL is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BSL's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of BSL'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 1.7x 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 BSL Company Filings, last reported 2 months ago.

BSE:514045 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 769.90 1,549.30 35.20
2018-09-30 769.90 1,549.30 35.20
2018-06-30 776.90 1,542.30 28.20
2018-03-31 776.89 1,692.42 4.77
2017-12-31 777.10 1,465.10 35.70
2017-09-30 777.10 1,465.10 35.70
2017-06-30 793.74 1,512.49 6.04
2017-03-31 790.36 1,767.28 8.08
2016-12-31 758.95 1,409.29 8.22
2016-09-30 758.95 1,409.29 8.22
2016-06-30 732.87 1,183.92 4.22
2016-03-31 732.87 1,391.44 4.78
2015-12-31 707.20 1,273.50 6.40
2015-09-30 707.20 1,273.50 6.40
2015-06-30 671.71 1,250.73 3.99
2015-03-31 671.71 1,441.52 4.50
2014-12-31 636.40 1,279.10 5.30
2014-09-30 636.40 1,279.10 5.30
2014-06-30 668.63 1,419.28 3.36
2014-03-31 668.63 1,419.28 3.36
2013-12-31 638.20 1,286.50 3.70
2013-09-30 638.20 1,286.50 3.70
2013-06-30 636.06 1,403.71 3.38
2013-03-31 636.06 1,550.25 3.38
2012-12-31 632.30 1,397.80 5.00
2012-09-30 632.30 1,397.80 5.00
2012-06-30 617.77 1,398.05 3.75
2012-03-31 617.77 1,494.03 3.75
  • BSL's level of debt (201.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (201.7% vs 201.2% today).
  • Debt is well covered by operating cash flow (24.2%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess BSL's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. BSL has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

Dividends

 What is BSL'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
Dividend payments
2.22%
Current annual income from BSL dividends.
If you bought ₹2,000 of BSL shares you are expected to receive ₹44 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?
  • BSL's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.5%).
  • BSL's dividend is above the markets top 25% of dividend payers in India (1.92%).
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:514045 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 110 Stocks 0.6%
India Market Average Dividend Yield Market Cap Weighted Average of 1399 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

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

BSE:514045 Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
BSE:514045 Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-08-24 1.000 2.175
2017-08-21 1.200 1.866
2017-05-12 1.200 1.655
2016-09-27 1.200 1.601
2015-08-18 1.200 1.926
2015-05-11 1.200 2.713
2014-09-19 1.000 2.852
2013-02-07 0.000 0.000
2012-10-29 0.000 0.000
2012-08-09 0.000 0.000
2012-05-04 0.000 0.000
2011-04-28 1.500 6.991
2011-02-03 1.500 5.977
2010-05-03 0.750 2.342
2010-04-29 0.750 2.176
2009-03-23 0.000 0.000

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

  • Whilst dividend payments have been stable, BSL has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but BSL only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of BSL's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess BSL's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can BSL afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BSL has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of BSL'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
Arun Churiwal
COMPENSATION ₹12,042,000
AGE 68
CEO Bio

Mr. Arun Kumar Churiwal serves as the Executive Chairman and Managing Director of BSL Limited. Mr. Churiwal served a the Managing Director at RSWM Limited from March 17, 2009 to March 31, 2016 and its Chief Executive Officer until March 31, 2016. He is an industrialist with rich experience in textiles. He has in-depth working experience. He has been Independent Non-Executive Director at La-Opala RG Limited since June 26, 2004. He has been a Non-Executive and Non Independent Director of RSWM Limited since October 23, 2003. He serves as a Director at Bhilwara Processors Ltd., BSL Wulfing Ltd., LNJ Financial Services Ltd., Churiwal Properties & Investments Pvt Ltd., PRC Niyojan Pvt. Ltd. He served as a Director of Silktex Ltd. from October 22, 1994 to February 14, 2012. He serves as a Governing Council Member at LNJ Bhilwara Anusandhan Vikas Kendra and Managing Committee Member of Merchants' Chamber of Commerce. Mr. Churiwal is a Honours Graduate in Political Science at Calcutta University.

CEO Compensation
  • Arun's compensation has been consistent with company performance over the past year.
  • Arun's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the BSL management team in years:

5.8
Average Tenure
57
Average Age
  • The average tenure for the BSL management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Arun Churiwal

TITLE
Executive Chairman & MD
COMPENSATION
₹12M
AGE
68

Nivedan Churiwal

TITLE
Joint MD & Executive Director
COMPENSATION
₹10M
AGE
43

Praveen Jain

TITLE
Senior VP & CFO
COMPENSATION
₹4M
AGE
57
TENURE
12.8 yrs

J. Soni

TITLE
Business Head
AGE
65

A. Mehta

TITLE
Senior Vice President of Processing
AGE
56

S. Gupta

TITLE
Vice President of Spinning
AGE
57

R. Katyal

TITLE
Vice President of Weaving
AGE
59
TENURE
5.8 yrs

M. Khiria

TITLE
Vice President of Export Marketing
AGE
52

H. Mathur

TITLE
Assistant Vice President of IR & HR
AGE
61

Aanchal Patni

TITLE
Company Secretary & Compliance Officer
TENURE
0.1 yrs
Board of Directors Tenure

Average tenure and age of the BSL board of directors in years:

16.8
Average Tenure
66
Average Age
  • The average tenure for the BSL board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Nivedan Churiwal

TITLE
Joint MD & Executive Director
COMPENSATION
₹10M
AGE
43

Sushil Jhunjhunwala

TITLE
Independent Non-Executive Director
COMPENSATION
₹160K
AGE
68
TENURE
18.3 yrs

Arun Churiwal

TITLE
Executive Chairman & MD
COMPENSATION
₹12M
AGE
68

Amar Choudhary

TITLE
Independent Non-Executive Director
COMPENSATION
₹230K
AGE
74

Ravi Jhunjhunwala

TITLE
Non-Executive Director
COMPENSATION
₹30K
AGE
63
TENURE
25.4 yrs

Shekhar Agarwal

TITLE
Non-Executive Director
COMPENSATION
₹100K
AGE
66
TENURE
16.8 yrs

Abhilasha Mimani

TITLE
Independent Non-Executive Director
COMPENSATION
₹70K
AGE
45
TENURE
4.6 yrs

Giriraj Singhal

TITLE
Independent Non-Executive Director
COMPENSATION
₹100K
TENURE
4.5 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 (₹)
X
Management checks
We assess BSL's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. BSL has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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.

News

Simply Wall St News

Company Info

Description

BSL Limited, a textile company, manufactures and sells fashion fabrics and yarns in India. The company operates through Textile and Wind Power segments. It produces a range of polyester viscose fabrics and worsted suiting products, including cashmere, mohair, angora, and camelhair blends. The company also offers wool, wool-blended, and premium lightweight fabrics; wool modal, Trevira wool, and other specialized fabrics blended with lycra, silk, linen, tencel, etc.; and furnishing and fashion fabrics. In addition, it is involved in the generation of wind power at Jaisalmer. The company also exports its products to Africa, Australia, Europe, the United States, Canada, and other Latin American countries. BSL Limited was incorporated in 1970 and is based in Bhilwara, India.

Details
Name: BSL Limited
514045
Exchange: BSE
Founded: 1970
₹463,706,632
10,293,155
Website: http://www.bslltd.com
Address: BSL Limited
26, Industrial Area,
Gandhi Nagar,
Bhilwara,
Rajasthan, 311001,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 514045 Equity Shares Mumbai Stock Exchange IN INR 27. Mar 1995
NSEI BSL Equity Shares National Stock Exchange of India IN INR 27. Mar 1995
Number of employees
Current staff
Staff numbers
477
BSL employees.
Industry
Textiles
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 12:38
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2017/05/12
Last earnings filing: 2019/02/11
Last earnings reported: 2018/12/31
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.