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Surat Textile Mills

BSE:530185
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
530185
BSE
₹564M
Market Cap
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Last updated 2019/02/16 12:31
Company description

Surat Textile Mills Limited manufactures and sells polyester filament yarns, polyester chips, and spun yarn in India. The last earnings update was 11 days ago. More info.

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  • Surat Textile Mills has significant price volatility in the past 3 months.
530185 Share Price and Events
7 Day Returns
-9.3%
BSE:530185
-1.4%
IN Luxury
-2.4%
IN Market
1 Year Returns
-49.6%
BSE:530185
-8%
IN Luxury
-8.9%
IN Market
530185 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Surat Textile Mills (530185) -9.3% -26.6% -22.8% -49.6% -3.8% 81.4%
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
  • 530185 underperformed the Luxury industry which returned -8% over the past year.
  • 530185 underperformed the Market in India which returned -8.9% over the past year.
Price Volatility
530185
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Surat Textile Mills 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 Surat Textile Mills 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 Surat Textile Mills.

BSE:530185 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:530185
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%) (1.68%)) 		0.581
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:530185 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Surat Textile Mills 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:530185 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (INR, Millions) 619.53 659.07 701.13 745.88 793.49
Source Est @ 6.38% Est @ 6.38% Est @ 6.38% Est @ 6.38% Est @ 6.38%
Present Value
Discounted (@ 13.51%) 		545.79 511.52 479.40 449.30 421.09
Present value of next 5 years cash flows ₹2,407.10
BSE:530185 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ₹793.49 × (1 + 7.55%) ÷ (13.51% – 7.55%) 		₹14,318.78
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ₹14,318.78 ÷ (1 + 13.51%)5 		₹7,598.63
BSE:530185 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ₹2,407.10 + ₹7,598.63 		₹10,005.73
Equity Value per Share
(INR)		 = Total value / Shares Outstanding
= ₹10,005.73 / 222.06 		₹45.06
BSE:530185 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹45.06
Current discount Discount to share price of ₹2.54
= -1 x (₹2.54 - ₹45.06) / ₹45.06 		94.4%

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

Current Discount
Amount off the current price Surat Textile Mills is available for.
Intrinsic value
>50%
Share price is ₹2.54 vs Future cash flow value of ₹45.06
Current Discount Checks
For Surat Textile Mills to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Surat Textile Mills's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Surat Textile Mills's share price is below the future cash flow value, and 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 Surat Textile Mills's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Surat Textile Mills's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:530185 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹0.34
BSE:530185 Share Price ** BSE (2019-02-15) in INR ₹2.54
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 Surat Textile Mills.

BSE:530185 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:530185 Share Price ÷ EPS (both in INR)

= 2.54 ÷ 0.34

 7.47x

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

  • Surat Textile Mills is good value based on earnings compared to the IN Luxury industry average.
  • Surat Textile Mills is good value based on earnings compared to the India market.
Price based on expected Growth
Does Surat Textile Mills's expected growth come at a high price?
Raw Data
BSE:530185 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts		 9.4%per year
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 Surat Textile Mills, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Surat Textile Mills's assets?
Raw Data
BSE:530185 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹5.08
BSE:530185 Share Price * BSE (2019-02-15) in INR ₹2.54
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:530185 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:530185 Share Price ÷ Book Value per Share (both in INR)

= 2.54 ÷ 5.08

 0.5x

* Primary Listing of Surat Textile Mills.

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

  • Surat Textile Mills is good value based on assets compared to the IN Luxury industry average.
Show me more potentially undervalued companies in the Luxury industry
X
Value checks
We assess Surat Textile Mills'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. Surat Textile Mills has a total score of 5/6, 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 Surat Textile Mills expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Surat Textile Mills, 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
9.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Surat Textile Mills expected to grow at an attractive rate?
  • Surat Textile Mills's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Surat Textile Mills's earnings growth is positive but not above the India market average.
  • Unable to compare Surat Textile Mills's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BSE:530185 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:530185 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 9.4%
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:530185 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month 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:530185 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 2,214 75
2018-09-30 2,272 82
2018-06-30 2,054 69
2018-03-31 2,005 266 82
2017-12-31 1,727 107
2017-09-30 1,571 153
2017-06-30 1,513 165
2017-03-31 1,387 -37 166
2016-12-31 1,451 135
2016-09-30 1,351 113
2016-06-30 1,171 79
2016-03-31 1,172 202 61

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Surat Textile Mills's earnings are expected to grow by 9.4% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Surat Textile Mills 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:530185 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Surat Textile Mills Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:530185 Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 0.34
2018-09-30 0.37
2018-06-30 0.32
2018-03-31 0.37
2017-12-31 0.48
2017-09-30 0.69
2017-06-30 0.73
2017-03-31 0.75
2016-12-31 0.63
2016-09-30 0.47
2016-06-30 0.35
2016-03-31 0.28

*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 Surat Textile Mills will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Surat Textile Mills'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.
Surat Textile Mills has a total score of 1/6, 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 Surat Textile Mills 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 Surat Textile Mills'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.
  • Surat Textile Mills has delivered over 20% year on year earnings growth in the past 5 years.
  • Surat Textile Mills's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Surat Textile Mills's 1-year earnings growth is negative, it can't be compared to the IN Luxury industry average.
Earnings and Revenue History
Surat Textile Mills'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 Surat Textile Mills Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:530185 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 2,214.24 74.60 26.71
2018-09-30 2,272.06 82.30 29.96
2018-06-30 2,054.32 68.94 34.68
2018-03-31 2,005.10 81.86 34.84
2017-12-31 1,727.35 107.31 34.85
2017-09-30 1,570.76 153.00 32.80
2017-06-30 1,512.87 165.34 30.36
2017-03-31 1,387.17 166.24 29.13
2016-12-31 1,451.08 135.08 42.02
2016-09-30 1,350.98 112.85 41.85
2016-06-30 1,170.91 79.42 41.65
2016-03-31 1,172.19 61.33 42.29
2015-12-31 976.91 10.38 66.16
2015-09-30 926.90 -18.74 70.35
2015-06-30 1,130.32 -10.66 76.64
2015-03-31 1,275.50 25.65 58.44
2014-12-31 1,484.37 33.78 98.88
2014-09-30 1,544.16 13.33 101.84
2014-06-30 1,666.47 34.40 102.91
2014-03-31 1,815.08 11.56 104.40
2013-12-31 2,039.88 8.77 95.03
2013-09-30 2,302.08 72.80 94.53
2013-06-30 2,305.34 88.54 94.31
2013-03-31 2,177.66 75.72 93.84
2012-12-31 1,994.93 13.55 100.62
2012-06-30 1,944.92 214.79 100.37
2012-03-31 1,884.18 197.80 92.30

*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.
  • Surat Textile Mills has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Surat Textile Mills used its assets less efficiently than the IN Luxury industry average last year based on Return on Assets.
  • Surat Textile Mills has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Surat Textile Mills'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.
Surat Textile Mills has a total score of 2/6, 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 Surat Textile Mills'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 Surat Textile Mills's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Surat Textile Mills is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Surat Textile Mills's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Surat Textile Mills'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 90.4x 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 Surat Textile Mills Company Filings, last reported 1 month ago.

BSE:530185 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,157.69 9.50 675.00
2018-09-30 1,157.69 9.50 675.00
2018-06-30 1,120.64 17.23 573.68
2018-03-31 1,120.64 17.23 573.68
2017-12-31
2017-09-30
2017-06-30
2017-03-31 1,033.40 5.12 219.11
2016-12-31 922.40 16.82 259.83
2016-09-30 922.40 16.82 259.83
2016-06-30 867.16 12.10 245.19
2016-03-31 867.16 12.10 245.19
2015-12-31 809.55 51.23 1.72
2015-09-30 809.55 51.23 1.72
2015-06-30 805.83 16.12 2.24
2015-03-31 805.83 16.12 2.24
2014-12-31 828.28 16.70 11.84
2014-09-30 828.28 16.70 11.84
2014-06-30 780.89 60.93 18.09
2014-03-31 780.89 60.93 18.09
2013-12-31 815.66 33.81 3.80
2013-09-30 815.66 33.81 3.80
2013-06-30 769.32 7.59 73.15
2013-03-31 769.32 7.59 73.15
2012-12-31
2012-06-30 693.60 9.32 21.16
2012-03-31 693.60 9.32 21.16
  • Surat Textile Mills's level of debt (0.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (4.2% vs 0.8% today).
  • Debt is well covered by operating cash flow (2800.1%, greater than 20% of total debt).
  • Surat Textile Mills earns more interest than it pays, coverage of interest payments is not a concern.
Show me more healthy companies in the Luxury industry
X
Financial health checks
We assess Surat Textile Mills'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. Surat Textile Mills has a total score of 6/6, 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 Surat Textile Mills'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
0%
Current annual income from Surat Textile Mills dividends.
If you bought ₹2,000 of Surat Textile Mills 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 Surat Textile Mills's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Surat Textile Mills'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:530185 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.

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

  • Unable to perform a dividend volatility check as Surat Textile Mills has not reported any payouts.
  • Unable to verify if Surat Textile Mills's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Surat Textile Mills's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Surat Textile Mills 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.
X
Income/ dividend checks
We assess Surat Textile Mills'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 Surat Textile Mills afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Surat Textile Mills has a total score of 0/6, 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 Surat Textile Mills'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
Manikant Momaya
COMPENSATION ₹840,240
AGE 86
TENURE AS CEO 4.7 years
CEO Bio

Mr. Manikant R. Momaya serves as the Chairman of Surat Textile Mills Limited and has been its Managing Director since June 1, 2014. Mr. Momaya served as Managing Director at Surat Textile Mills Limited from December 2005 to May 1, 2012. He has wide experience in the textile industry. He was associated with one of the most reputed textile Company of Surat for about 33 years. He served as a Consultant Engineer at Surat Textile Mills Ltd. He has been Wholetime Director of Surat Textile Mills Limited since October 23, 2000. He serves as a Director of Como Textiles Private Ltd., Amalfi Textiles Private Ltd., Sorrento Textiles Private Ltd. and Porus Textiles & Trading Pvt. Ltd.

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

Average tenure of the Surat Textile Mills management team in years:

4.5
Average Tenure
  • The tenure for the Surat Textile Mills management team is about average.
Management Team

Manikant Momaya

TITLE
Chairman & MD
COMPENSATION
₹840K
AGE
86
TENURE
4.7 yrs

Yogesh Papaiya

TITLE
CFO & Whole Time Director
COMPENSATION
₹3M
AGE
66
TENURE
4.5 yrs

Hanisha Arora

TITLE
Compliance Officer & Company Secretary
COMPENSATION
₹197K
TENURE
3.8 yrs
Board of Directors Tenure

Average tenure and age of the Surat Textile Mills board of directors in years:

6.4
Average Tenure
75
Average Age
  • The tenure for the Surat Textile Mills board of directors is about average.
Board of Directors

Manikant Momaya

TITLE
Chairman & MD
COMPENSATION
₹840K
AGE
86

Yogesh Papaiya

TITLE
CFO & Whole Time Director
COMPENSATION
₹3M
AGE
66
TENURE
18.3 yrs

Harish Bharucha

TITLE
Non-Executive Independent Director
COMPENSATION
₹100K
AGE
75
TENURE
8.3 yrs

Ketan Jariwala

TITLE
Independent Director
COMPENSATION
₹100K
AGE
56
TENURE
4.5 yrs

Anita Mandrekar

TITLE
Non-Executive Independent Director
COMPENSATION
₹40K
AGE
82
TENURE
3.8 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 Surat Textile Mills'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. Surat Textile Mills 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

Map
Description

Surat Textile Mills Limited manufactures and sells polyester filament yarns, polyester chips, and spun yarn in India. It produces ring spun yarn for domestic market in various product range comprising polyester, viscose, modal, polyester viscose blend, and polyester modal blend. The company was formerly known as Garden Cottons & Yarns Ltd. Surat Textile Mills Limited was incorporated in 1945 and is based in Surat, India.

Details
Name: Surat Textile Mills Limited
530185
Exchange: BSE
Founded: 1945
₹564,043,677
222,064,440
Website: http://www.surattextilemillsltd.com
Address: Surat Textile Mills Limited
Tulsi Krupa Arcade,
6th Floor,
Surat,
Gujarat, 395010,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 530185 Equity Shares Mumbai Stock Exchange IN INR 24. Aug 2005
Number of employees
Current staff
Staff numbers
88
Surat Textile Mills employees.
Industry
Textiles
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/16 12:31
End of day share price update: 2019/02/15 00:00
Last earnings filing: 2019/02/05
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.

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