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Aarvee Denims and Exports

NSEI:AARVEEDEN
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AARVEEDEN
NSEI
₹540M
Market Cap
  1. Home
  2. IN
  3. Consumer Durables
Company description

Aarvee Denims and Exports Limited manufactures and sells fabrics in India and internationally. The last earnings update was 335 days ago. More info.


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AARVEEDEN Share Price and Events
7 Day Returns
-1.7%
NSEI:AARVEEDEN
-0.6%
IN Luxury
-1.9%
IN Market
1 Year Returns
-47.4%
NSEI:AARVEEDEN
-4%
IN Luxury
-2.8%
IN Market
AARVEEDEN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Aarvee Denims and Exports (AARVEEDEN) -1.7% 0.4% -6.6% -47.4% -57.5% -39.3%
IN Luxury -0.6% 1.4% 8.8% -4% 47.5% 162.4%
IN Market -1.9% 1.2% 5.1% -2.8% 38.3% 71%
1 Year Return vs Industry and Market
  • AARVEEDEN underperformed the Luxury industry which returned -4% over the past year.
  • AARVEEDEN underperformed the Market in India which returned -2.8% over the past year.
Price Volatility
AARVEEDEN
Industry
5yr Volatility vs Market

AARVEEDEN Value

 Is Aarvee Denims and Exports 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 Aarvee Denims and Exports 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 Aarvee Denims and Exports.

NSEI:AARVEEDEN 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 24.8%
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 NSEI:AARVEEDEN
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 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.73 (1 + (1- 35%) (703%))
3.053
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (2 * 8.6%)
24.75%

Discounted Cash Flow Calculation for NSEI:AARVEEDEN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Aarvee Denims and Exports 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.

NSEI:AARVEEDEN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 24.75%)
2019 42.37 Est @ -31.67% 33.96
2020 33.94 Est @ -19.9% 21.81
2021 29.98 Est @ -11.67% 15.44
2022 28.21 Est @ -5.9% 11.65
2023 27.68 Est @ -1.87% 9.16
2024 27.95 Est @ 0.96% 7.41
2025 28.77 Est @ 2.94% 6.12
2026 30.01 Est @ 4.32% 5.12
2027 31.60 Est @ 5.29% 4.32
2028 33.48 Est @ 5.97% 3.67
Present value of next 10 years cash flows ₹118.65
NSEI:AARVEEDEN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹33.48 × (1 + 7.55%) ÷ (24.75% – 7.55%)
₹209.36
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹209.36 ÷ (1 + 24.75%)10
₹22.93
NSEI:AARVEEDEN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹118.65 + ₹22.93
₹141.59
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹141.59 / 23.46
₹6.04
NSEI:AARVEEDEN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:AARVEEDEN represents 0.98739x of BSE:514274
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98739x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 6.04 x 0.98739
₹5.96
Value per share (INR) From above. ₹5.96
Current discount Discount to share price of ₹23.50
= -1 x (₹23.50 - ₹5.96) / ₹5.96
-294.3%

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

  • The current share price of Aarvee Denims and Exports 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 Aarvee Denims and Exports's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Aarvee Denims and Exports's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:AARVEEDEN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-03-31) in INR ₹2.39
BSE:514274 Share Price ** BSE (2019-04-24) in INR ₹23.8
India Luxury Industry PE Ratio Median Figure of 240 Publicly-Listed Luxury Companies 12.23x
India Market PE Ratio Median Figure of 2,739 Publicly-Listed Companies 16.02x

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

** Primary Listing of Aarvee Denims and Exports.

NSEI:AARVEEDEN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:514274 Share Price ÷ EPS (both in INR)

= 23.8 ÷ 2.39

9.96x

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

  • Aarvee Denims and Exports is good value based on earnings compared to the IN Luxury industry average.
  • Aarvee Denims and Exports is good value based on earnings compared to the India market.
Price based on expected Growth
Does Aarvee Denims and Exports's expected growth come at a high price?
Raw Data
NSEI:AARVEEDEN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
28.9%per year
India Luxury Industry PEG Ratio Median Figure of 25 Publicly-Listed Luxury Companies 1.48x
India Market PEG Ratio Median Figure of 586 Publicly-Listed Companies 1.32x

*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 Aarvee Denims and Exports, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Aarvee Denims and Exports's assets?
Raw Data
NSEI:AARVEEDEN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-03-31) in INR ₹115.81
BSE:514274 Share Price * BSE (2019-04-24) in INR ₹23.8
India Luxury Industry PB Ratio Median Figure of 311 Publicly-Listed Luxury Companies 0.75x
India Market PB Ratio Median Figure of 3,630 Publicly-Listed Companies 1.09x
NSEI:AARVEEDEN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:514274 Share Price ÷ Book Value per Share (both in INR)

= 23.8 ÷ 115.81

0.21x

* Primary Listing of Aarvee Denims and Exports.

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

  • Aarvee Denims and Exports is good value based on assets compared to the IN Luxury industry average.
X
Value checks
We assess Aarvee Denims and Exports'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. Aarvee Denims and Exports has a total score of 3/6, 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.

AARVEEDEN Future Performance

 How is Aarvee Denims and Exports expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Aarvee Denims and Exports, 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
28.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Aarvee Denims and Exports expected to grow at an attractive rate?
  • Aarvee Denims and Exports's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Aarvee Denims and Exports's earnings growth is expected to exceed the India market average.
  • Unable to compare Aarvee Denims and Exports's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NSEI:AARVEEDEN Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:AARVEEDEN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 28.9%
India Luxury Industry Earnings Growth Rate Market Cap Weighted Average 19.3%
India Luxury Industry Revenue Growth Rate Market Cap Weighted Average 15%
India Market Earnings Growth Rate Market Cap Weighted Average 18.3%
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
NSEI:AARVEEDEN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 year 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.
NSEI:AARVEEDEN Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
NSEI:AARVEEDEN Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-03-31 8,275 378 56
2017-12-31 8,687 31
2017-09-30 8,088 -93
2017-06-30 8,478 -35
2017-03-31 8,442 966 12
2016-12-31 8,078 58
2016-09-30 8,689 180
2016-06-30 8,520 112
2016-03-31 8,412 749 70
2015-12-31 8,200 45
2015-09-30 7,951 24
2015-06-30 7,866 40

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Aarvee Denims and Exports's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Aarvee Denims and Exports 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
NSEI:AARVEEDEN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 year ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Aarvee Denims and Exports Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:AARVEEDEN Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
NSEI:AARVEEDEN Past Financials Data
Date (Data in INR Millions) EPS *
2018-03-31 2.39
2017-12-31 1.50
2017-09-30 -4.03
2017-06-30 -1.50
2017-03-31 0.51
2016-12-31 2.48
2016-09-30 7.64
2016-06-30 4.79
2016-03-31 3.00
2015-12-31 1.92
2015-09-30 1.11
2015-06-30 1.70

*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 Aarvee Denims and Exports will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Aarvee Denims and Exports'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.
Aarvee Denims and Exports has a total score of 3/6, 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.

AARVEEDEN Past Performance

  How has Aarvee Denims and Exports performed over the past 5 years?

  • Aarvee Denims and Exports's last earnings update was 335 days ago.
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 Aarvee Denims and Exports'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.
  • Insufficient data to establish if Aarvee Denims and Exports's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Aarvee Denims and Exports's 1-year earnings growth to the 5-year average due to insufficient past data.
  • Aarvee Denims and Exports's earnings growth has exceeded the IN Luxury industry average in the past year (372.9% vs 14.8%).
Earnings and Revenue History
Aarvee Denims and Exports'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 Aarvee Denims and Exports Company Filings, last reported 1 year ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:AARVEEDEN Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-03-31 8,274.78 56.09 563.35
2017-12-31 8,687.40 30.55 590.82
2017-09-30 8,088.50 -93.48 569.67
2017-06-30 8,478.03 -35.00 579.25
2017-03-31 8,442.14 11.86 579.14
2016-12-31 8,077.56 58.41 592.32
2016-09-30 8,689.29 179.57 602.67
2016-06-30 8,519.75 112.41 594.14
2016-03-31 8,412.25 70.27 576.50
2015-12-31 8,199.57 45.15 687.12
2015-09-30 7,950.52 24.46 661.24
2015-06-30 7,866.14 39.90 462.41
2015-03-31 7,324.51 1.88 447.25
2014-12-31 7,080.28 -96.80 585.54
2014-09-30 6,915.44 -80.17 572.11
2014-06-30 6,927.93 -21.39 392.73
2014-03-31 6,853.16 31.82 536.56
2013-12-31 6,956.04 240.63 509.54
2013-09-30 6,905.65 257.62 497.84
2013-06-30 6,844.14 354.71 337.26
2013-03-31 7,233.23 450.18 480.71
2012-12-31 7,263.87 363.87 520.74
2012-09-30 7,437.03 374.20 511.62
2012-06-30 7,013.98 238.85 304.75

*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.
  • Aarvee Denims and Exports has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Aarvee Denims and Exports used its assets less efficiently than the IN Luxury industry average last year based on Return on Assets.
  • Aarvee Denims and Exports has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Aarvee Denims and Exports'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.
Aarvee Denims and Exports 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.

AARVEEDEN Health

 How is Aarvee Denims and Exports'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 Aarvee Denims and Exports's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Aarvee Denims and Exports is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Aarvee Denims and Exports's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Aarvee Denims and Exports'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 1.4x 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 Aarvee Denims and Exports Company Filings, last reported 1 year ago.

NSEI:AARVEEDEN Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-03-31 2,716.88 3,793.19 19.16
2017-12-31 2,690.60 3,651.00 297.40
2017-09-30 2,690.60 3,651.00 297.40
2017-06-30 2,676.71 3,553.52 187.16
2017-03-31 2,676.71 3,553.52 187.16
2016-12-31 2,783.43 3,711.16 207.47
2016-09-30 2,783.43 3,711.16 207.47
2016-06-30 2,638.90 3,821.48 143.70
2016-03-31 2,638.90 3,821.48 143.70
2015-12-31 2,591.22 3,519.00 134.12
2015-09-30 2,591.22 3,519.00 134.12
2015-06-30 2,559.50 3,280.46 113.49
2015-03-31 2,559.50 3,703.12 113.49
2014-12-31 2,560.33 3,369.38 133.78
2014-09-30 2,560.33 3,369.38 133.78
2014-06-30 2,576.88 4,017.52 72.03
2014-03-31 2,576.88 3,956.49 72.03
2013-12-31
2013-09-30
2013-06-30 2,571.81 3,611.45 112.94
2013-03-31 2,571.81 3,837.69 112.94
2012-12-31 2,439.34 3,395.96 334.80
2012-09-30 2,439.34 3,395.96 334.80
2012-06-30 2,147.90 3,507.67 309.09
  • Aarvee Denims and Exports's level of debt (139.6%) 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 (149.1% vs 139.6% today).
  • Debt is not well covered by operating cash flow (10%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Aarvee Denims and Exports'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. Aarvee Denims and Exports has a total score of 3/6, 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.

AARVEEDEN Dividends

 What is Aarvee Denims and Exports'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 Aarvee Denims and Exports dividends.
If you bought ₹2,000 of Aarvee Denims and Exports 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 Aarvee Denims and Exports's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Aarvee Denims and Exports'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
NSEI:AARVEEDEN 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 1400 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 2%

Industry and Market average data is calculated daily.

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

NSEI:AARVEEDEN Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
NSEI:AARVEEDEN Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2015-02-13 0.000 0.000
2014-11-14 0.000 0.000
2014-08-14 0.000 0.000
2013-08-02 0.000 0.000
2013-05-29 0.000 0.000
2013-02-08 0.000 0.000
2012-11-06 0.000 0.000
2012-09-04 0.000 0.000
2011-08-10 0.500 1.440
2011-06-02 0.500 1.002
2011-02-07 0.500 0.859
2010-10-15 0.500 0.666
2010-08-11 0.500 0.606
2010-04-15 1.000 1.666
2010-01-15 1.000 1.652
2009-10-16 1.000 1.652

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

  • Unable to perform a dividend volatility check as Aarvee Denims and Exports has not reported any payouts.
  • Unable to verify if Aarvee Denims and Exports's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Aarvee Denims and Exports's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Aarvee Denims and Exports 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 Aarvee Denims and Exports'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 Aarvee Denims and Exports afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Aarvee Denims and Exports 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.

AARVEEDEN Management

 What is the CEO of Aarvee Denims and Exports'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
Vinodkumar Arora
COMPENSATION ₹3,600,000
AGE 67
CEO Bio

Mr. Vinodkumar P. Arora has been the Chairman and Managing Director at Aarvee Denims & Exports Ltd. since October 1, 2005 and serves as its Executive Director. He is a Commerce Graduate.

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

Average tenure and age of the Aarvee Denims and Exports management team in years:

4
Average Tenure
60
Average Age
  • The tenure for the Aarvee Denims and Exports management team is about average.
Management Team

Vinodkumar Arora

TITLE
Chairman & MD
COMPENSATION
₹4M
AGE
67

Ashishbhai Shah

TITLE
MD & Executive Director
COMPENSATION
₹3M
AGE
60
TENURE
4.5 yrs

Bhavik Shukla

TITLE
Chief Financial Officer
COMPENSATION
₹2M
TENURE
3.4 yrs

Pankajbhai Arora

TITLE
Vice President of Marketing
COMPENSATION
₹1M
AGE
39
TENURE
7.5 yrs

Kalpeshbhai Shah

TITLE
Whole Time Director
COMPENSATION
₹2M
AGE
67

Nipun Arora

TITLE
Whole Time Director
AGE
44

Yashaswini Pandey

TITLE
Company Secretary
TENURE
0.7 yrs

Anuj Shah

TITLE
Executive
Board of Directors Tenure

Average tenure and age of the Aarvee Denims and Exports board of directors in years:

14.4
Average Tenure
60.5
Average Age
  • The average tenure for the Aarvee Denims and Exports board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ashishbhai Shah

TITLE
MD & Executive Director
COMPENSATION
₹3M
AGE
60
TENURE
31.1 yrs

Kalpeshbhai Shah

TITLE
Whole Time Director
COMPENSATION
₹2M
AGE
67
TENURE
9.3 yrs

Nipun Arora

TITLE
Whole Time Director
AGE
44
TENURE
0.7 yrs

Sanjay Majmudar

TITLE
Independent Non-Executive Director
COMPENSATION
₹55K
AGE
55

Vinodkumar Arora

TITLE
Chairman & MD
COMPENSATION
₹4M
AGE
67
TENURE
13.5 yrs

Amol Dalal

TITLE
Independent Non-Executive Director
COMPENSATION
₹55K
AGE
62
TENURE
15.3 yrs

Arvind Sanghvi

TITLE
Independent Non-Executive Director
COMPENSATION
₹15K
AGE
61
TENURE
23.3 yrs

Ashok Gandhi

TITLE
Independent Non-Executive Director
COMPENSATION
₹55K
AGE
79

Rajesh Arora

TITLE
Non-Executive Director
AGE
58
TENURE
26.4 yrs

Yashree Dixit

TITLE
Independent Woman Director
AGE
24
TENURE
0.9 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 Aarvee Denims and Exports'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. Aarvee Denims and Exports 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.

AARVEEDEN News

Simply Wall St News

Is Aarvee Denims and Exports Limited's (NSE:AARVEEDEN) CEO Pay Justified?

How Does Vinodkumar Arora's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Aarvee Denims and Exports Limited has a market cap of ₹551m, and is paying total annual CEO compensation of ₹3.6m. … We examined a group of similar sized companies, with market capitalizations of below ₹14b

Simply Wall St -

Is Aarvee Denims and Exports Limited (NSE:AARVEEDEN) Creating Value For Shareholders?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

What Kind Of Investor Owns Most Of Aarvee Denims and Exports Limited (NSE:AARVEEDEN)?

The big shareholder groups in Aarvee Denims and Exports Limited (NSE:AARVEEDEN) have power over the company. … Aarvee Denims and Exports is a smaller company with a market capitalization of ₹667m, so it may still be flying under the radar of many institutional investors. … Check out our latest analysis for Aarvee Denims and Exports

Simply Wall St -

Are Aarvee Denims and Exports Limited's (NSE:AARVEEDEN) Interest Costs Too High?

Investors are always looking for growth in small-cap stocks like Aarvee Denims and Exports Limited (NSE:AARVEEDEN), with a market cap of ₹781.21m. … However, an important fact which most ignore is: how financially healthy is the business? … I believe these basic checks tell most of the story you need to know.

Simply Wall St -

Why Aarvee Denims and Exports Limited (NSE:AARVEEDEN) Is An Attractive Investment

Aarvee Denims and Exports Limited (NSE:AARVEEDEN) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … report on Aarvee Denims and Exports here

Simply Wall St -

Should You Worry About Aarvee Denims and Exports Limited's (NSE:AARVEEDEN) CEO Pay?

Performance can be measured based on factors such as earnings and total shareholder return (TSR). … I believe earnings is a cleaner proxy, since many factors can impact share price, and therefore, TSR. … Based on AARVEEDEN's size and performance, in terms of market cap and earnings, it seems that Arora is paid on a similar level to other comparable BSE and NSEI CEOs of profitable small-caps.

Simply Wall St -

Aarvee Denims and Exports Limited (NSE:AARVEEDEN): Time For A Financial Health Check

Additionally, AARVEEDEN has produced cash from operations of ₹966.01M in the last twelve months, resulting in an operating cash to total debt ratio of 27.18%, meaning that AARVEEDEN’s current level of operating cash is high enough to cover debt. … Looking at AARVEEDEN’s most recent ₹4.74B liabilities, it appears that the company has not maintained a sufficient level of current assets to meet its obligations, with the current ratio last standing at 0.92x, which is below the prudent industry ratio of 3x. … In AARVEEDEN's case, the ratio of 1.3x suggests that interest is not strongly covered, which means that lenders may be more reluctant to lend out more funding as AARVEEDEN’s low interest coverage already puts the company at higher risk of default.Next Steps: Although AARVEEDEN’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet debt obligations which means its debt is being efficiently utilised.

Simply Wall St -

Will Aarvee Denims and Exports Limited (NSE:AARVEEDEN) Continue To Underperform Its Industry?

Aarvee Denims and Exports Limited (NSEI:AARVEEDEN) generated a below-average return on equity of 1.14% in the past 12 months, while its industry returned 8.38%. … See our latest analysis for Aarvee Denims and Exports What you must know about ROE Return on Equity (ROE) is a measure of Aarvee Denims and Exports’s profit relative to its shareholders’ equity. … For now, let’s just look at the cost of equity number for Aarvee Denims and Exports, which is 23.00%.

Simply Wall St -

Want To Invest In Aarvee Denims and Exports Limited (NSE:AARVEEDEN)? Here's How It Performed Lately

Assessing Aarvee Denims and Exports Limited's (NSEI:AARVEEDEN) performance as a company requires looking at more than just a years' earnings data. … Below, I will run you through a simple sense check to build perspective on how Aarvee Denims and Exports is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its luxury industry peers. … For Aarvee Denims and Exports, its latest earnings (trailing twelve month) is IN₨30.55M, which, in comparison to the previous year's level, has dropped by a non-trivial -47.70%.

Simply Wall St -

Is Aarvee Denims and Exports Limited's (NSE:AARVEEDEN) PE Ratio A Signal To Sell For Investors?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for AARVEEDEN Price per share = ₹50.15 Earnings per share = ₹1.497 ∴ Price-Earnings Ratio = ₹50.15 ÷ ₹1.497 = 33.5x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you accidentally compared lower growth firms with AARVEEDEN, then AARVEEDEN’s P/E would naturally be higher since investors would reward AARVEEDEN’s higher growth with a higher price. … Alternatively, if you inadvertently compared riskier firms with AARVEEDEN, AARVEEDEN’s P/E would again be higher since investors would reward AARVEEDEN’s lower risk with a higher price as well.

Simply Wall St -

AARVEEDEN Company Info

Description

Aarvee Denims and Exports Limited manufactures and sells fabrics in India and internationally. It operates through Textile and Windmill segments. The company offers cotton fibers; cotton and texturized yarns; ring, shirting, printed, stretch, satin, flat finish special blend, and LYCRA denims; and non-denim fabrics. It is also involved in the wind power generation activities. The company was founded in 1988 and is headquartered in Ahmedabad, India.

Details
Name: Aarvee Denims and Exports Limited
AARVEEDEN
Exchange: NSEI
Founded: 1988
₹539,575,400
23,459,800
Website: http://www.aarveedenims.com
Address: Aarvee Denims and Exports Limited
191, Moje Shahwadi,
Narol - Sarkhej Highway,
Ahmedabad,
Gujarat, 382405,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 514274 Equity Shares Mumbai Stock Exchange IN INR 31. Jan 2005
NSEI AARVEEDEN Equity Shares National Stock Exchange of India IN INR 31. Jan 2005
Number of employees
Current staff
Staff numbers
1,463
Aarvee Denims and Exports employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 12:48
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2017/05/26
Last earnings filing: 2018/05/24
Last earnings reported: 2018/03/31
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.