Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹45.63, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 17x in the Packaging industry in India. Total returns to shareholders of 57% over the past three years. Reported Earnings • May 23
Full year 2026 earnings released: EPS: ₹31.94 (vs ₹0.97 in FY 2025) Full year 2026 results: EPS: ₹31.94 (up from ₹0.97 in FY 2025). Revenue: ₹890.0m (up 195% from FY 2025). Net income: ₹10.5m (up 100% from FY 2025). Profit margin: 1.2% (down from 1.7% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • May 17
Gujarat Raffia Industries Limited to Report Q4, 2026 Results on May 21, 2026 Gujarat Raffia Industries Limited announced that they will report Q4, 2026 results on May 21, 2026 Reported Earnings • Feb 17
Third quarter 2026 earnings released: EPS: ₹0.19 (vs ₹0.14 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.19 (up from ₹0.14 in 3Q 2025). Revenue: ₹239.0m (up 292% from 3Q 2025). Net income: ₹1.05m (up 38% from 3Q 2025). Profit margin: 0.4% (down from 1.3% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Feb 10
Gujarat Raffia Industries Limited to Report Q3, 2026 Results on Feb 13, 2026 Gujarat Raffia Industries Limited announced that they will report Q3, 2026 results on Feb 13, 2026 Buy Or Sell Opportunity • Jan 13
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at ₹45.16. The fair value is estimated to be ₹57.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.6% over the last 3 years. Earnings per share has declined by 19%. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹63.57, the stock trades at a trailing P/E ratio of 48.6x. Average trailing P/E is 17x in the Packaging industry in India. Total returns to shareholders of 112% over the past three years. New Risk • Nov 23
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.4% Last year net profit margin: 2.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 12% per year over the past 5 years. Market cap is less than US$10m (₹267.8m market cap, or US$2.99m). Minor Risk Profit margins are more than 30% lower than last year (1.4% net profit margin). Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹47.71, the stock trades at a trailing P/E ratio of 43.2x. Average trailing P/E is 18x in the Packaging industry in India. Total returns to shareholders of 63% over the past three years. Announcement • Nov 11
Gujarat Raffia Industries Limited to Report Q2, 2026 Results on Nov 13, 2025 Gujarat Raffia Industries Limited announced that they will report Q2, 2026 results on Nov 13, 2025 Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₹66.67, the stock trades at a trailing P/E ratio of 61.6x. Average trailing P/E is 19x in the Packaging industry in India. Total returns to shareholders of 122% over the past three years. New Risk • Oct 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 4.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 8.0% per year over the past 5 years. Market cap is less than US$10m (₹201.4m market cap, or US$2.28m). Minor Risks Share price has been volatile over the past 3 months (4.6% average weekly change). Revenue is less than US$5m (₹312m revenue, or US$3.5m). Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹44.88, the stock trades at a trailing P/E ratio of 41.5x. Average trailing P/E is 18x in the Packaging industry in India. Total returns to shareholders of 43% over the past three years. Announcement • Aug 09
Gujarat Raffia Industries Limited to Report Q1, 2026 Results on Aug 14, 2025 Gujarat Raffia Industries Limited announced that they will report Q1, 2026 results on Aug 14, 2025 Reported Earnings • Jul 24
Full year 2025 earnings released: EPS: ₹0.97 (vs ₹1.00 in FY 2024) Full year 2025 results: EPS: ₹0.97 (down from ₹1.00 in FY 2024). Revenue: ₹301.6m (down 2.7% from FY 2024). Net income: ₹5.22m (down 3.1% from FY 2024). Profit margin: 1.7% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Jul 22
Gujarat Raffia Industries Limited, Annual General Meeting, Aug 12, 2025 Gujarat Raffia Industries Limited, Annual General Meeting, Aug 12, 2025, at 14:00 Indian Standard Time. Location: plot no.455, santej vadsar road, santej, kalol, gandhinagar-382721, gandhinagar India Reported Earnings • May 31
Full year 2025 earnings released: EPS: ₹0.97 (vs ₹1.00 in FY 2024) Full year 2025 results: EPS: ₹0.97 (down from ₹1.00 in FY 2024). Revenue: ₹305.7m (down 1.4% from FY 2024). Net income: ₹5.22m (down 3.1% from FY 2024). Profit margin: 1.7% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • May 23
Gujarat Raffia Industries Limited to Report Q4, 2025 Results on May 29, 2025 Gujarat Raffia Industries Limited announced that they will report Q4, 2025 results on May 29, 2025 Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹39.01, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 19x in the Packaging industry in India. Total returns to shareholders of 13% over the past three years. New Risk • Mar 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.4% average weekly change). Earnings have declined by 1.3% per year over the past 5 years. Market cap is less than US$10m (₹221.5m market cap, or US$2.53m). Minor Risk Revenue is less than US$5m (₹293m revenue, or US$3.3m). Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: ₹0.14 (vs ₹0.33 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.14 (down from ₹0.33 in 3Q 2024). Revenue: ₹61.0m (down 15% from 3Q 2024). Net income: ₹763.0k (down 58% from 3Q 2024). Profit margin: 1.3% (down from 2.5% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Feb 15
Gujarat Raffia Industries Limited Appoints Neha Shyamsingh Tomar as Company Secretary, Effective March 1, 2025 Gujarat Raffia Industries Limited at its meeting held on February 14, 2025 approved appointment of Mrs. Neha Shyamsingh Tomar (M.No. A49570) as a Company Secretary of the Company. Qualifications: Company Secretary. Date of appointment is March 1, 2025. Announcement • Feb 11
Gujarat Raffia Industries Limited to Report Q3, 2025 Results on Feb 14, 2025 Gujarat Raffia Industries Limited announced that they will report Q3, 2025 results on Feb 14, 2025 Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹51.99, the stock trades at a trailing P/E ratio of 47.6x. Average trailing P/E is 25x in the Packaging industry in India. Total returns to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹87.12, the stock trades at a trailing P/E ratio of 70.1x. Average trailing P/E is 29x in the Packaging industry in India. Total returns to shareholders of 133% over the past three years. New Risk • Dec 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.3% per year over the past 5 years. Market cap is less than US$10m (₹449.7m market cap, or US$5.29m). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Revenue is less than US$5m (₹303m revenue, or US$3.6m). Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹55.90, the stock trades at a trailing P/E ratio of 44.8x. Average trailing P/E is 28x in the Packaging industry in India. Total returns to shareholders of 46% over the past three years. New Risk • Nov 24
New major risk - Revenue and earnings growth Earnings have declined by 0.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.3% per year over the past 5 years. Market cap is less than US$10m (₹243.7m market cap, or US$2.89m). Minor Risk Revenue is less than US$5m (₹303m revenue, or US$3.6m). Announcement • Nov 11
Gujarat Raffia Industries Limited to Report Q2, 2025 Results on Nov 14, 2024 Gujarat Raffia Industries Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Announcement • Sep 03
Gujarat Raffia Industries Limited, Annual General Meeting, Sep 24, 2024 Gujarat Raffia Industries Limited, Annual General Meeting, Sep 24, 2024, at 14:00 Indian Standard Time. Location: plot no.455, santej vadsar road, santej, kalol, gandhinagar-382721, gandhinagar India Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹0.51 (vs ₹0.29 in 1Q 2024) First quarter 2025 results: EPS: ₹0.51 (up from ₹0.29 in 1Q 2024). Revenue: ₹106.4m (up 18% from 1Q 2024). Net income: ₹2.77m (up 80% from 1Q 2024). Profit margin: 2.6% (up from 1.7% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Aug 09
Gujarat Raffia Industries Limited to Report Q1, 2025 Results on Aug 14, 2024 Gujarat Raffia Industries Limited announced that they will report Q1, 2025 results on Aug 14, 2024 New Risk • Aug 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹271.3m market cap, or US$3.23m). Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Profit margins are more than 30% lower than last year (1.7% net profit margin). Revenue is less than US$5m (₹309m revenue, or US$3.7m). Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹53.48, the stock trades at a trailing P/E ratio of 55.7x. Average trailing P/E is 26x in the Packaging industry in India. Total returns to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹41.80, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 22x in the Packaging industry in India. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹54.10, the stock trades at a trailing P/E ratio of 48.1x. Average trailing P/E is 22x in the Packaging industry in India. Total loss to shareholders of 33% over the past three years. Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: ₹0.33 (vs ₹0.36 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.33 (down from ₹0.36 in 3Q 2023). Revenue: ₹75.3m (down 8.8% from 3Q 2023). Net income: ₹1.80m (down 7.7% from 3Q 2023). Profit margin: 2.4% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Feb 13
Gujarat Raffia Industries Limited Appoints Mr. Aditi Sharma as Independent Director Gujarat Raffia Industries Limited announced that at the Extra Ordinary General Meeting held on February 10, 2024, the company approved the appointment of Aditi Sharma as Independent Director. Announcement • Feb 10
Gujarat Raffia Industries Limited to Report Q3, 2024 Results on Feb 14, 2024 Gujarat Raffia Industries Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹63.05, the stock trades at a trailing P/E ratio of 54.1x. Average trailing P/E is 22x in the Packaging industry in India. Total returns to shareholders of 295% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹38.25, the stock trades at a trailing P/E ratio of 33x. Average trailing P/E is 23x in the Packaging industry in India. Total returns to shareholders of 166% over the past three years. New Risk • Nov 20
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 2.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹179.4m market cap, or US$2.16m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). Revenue is less than US$5m (₹358m revenue, or US$4.3m). Announcement • Nov 07
Gujarat Raffia Industries Limited to Report Q2, 2024 Results on Nov 11, 2023 Gujarat Raffia Industries Limited announced that they will report Q2, 2024 results on Nov 11, 2023 Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹37.50, the stock trades at a trailing P/E ratio of 26.3x. Average trailing P/E is 24x in the Packaging industry in India. Total returns to shareholders of 206% over the past three years. Announcement • Aug 30
Gujarat Raffia Industries Limited, Annual General Meeting, Sep 25, 2023 Gujarat Raffia Industries Limited, Annual General Meeting, Sep 25, 2023, at 14:00 Indian Standard Time. Location: Plot No. - 455, Santej-Vadsar Road, Village: Santej, Taluka: Kalol -382 721. Gandhi Nagar India Agenda: To consider and adopt the Audited Financial Statements as at 31 March, 2023 including the Audited Balance Sheet as at 31 March, 2023, the Statement of Profit and Loss and cash flow statement for the year ended on that date and reports of the Directors and Auditors thereon; and to appoint Director. Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: ₹0.29 (vs ₹0.77 in 1Q 2023) First quarter 2024 results: EPS: ₹0.29 (down from ₹0.77 in 1Q 2023). Revenue: ₹92.6m (down 28% from 1Q 2023). Net income: ₹1.54m (down 63% from 1Q 2023). Profit margin: 1.7% (down from 3.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 08
Gujarat Raffia Industries Limited to Report Q1, 2024 Results on Aug 14, 2023 Gujarat Raffia Industries Limited announced that they will report Q1, 2024 results on Aug 14, 2023 New Risk • Jun 15
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₹392m (US$4.8m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹162.1m market cap, or US$1.98m). Minor Risk Revenue is less than US$5m (₹392m revenue, or US$4.8m). Reported Earnings • May 31
Full year 2023 earnings released: EPS: ₹1.90 (vs ₹2.07 in FY 2022) Full year 2023 results: EPS: ₹1.90 (down from ₹2.07 in FY 2022). Revenue: ₹413.8m (up 8.2% from FY 2022). Net income: ₹10.3m (down 8.1% from FY 2022). Profit margin: 2.5% (down from 2.9% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 20
Gujarat Raffia Industries Limited to Report Q4, 2023 Results on May 29, 2023 Gujarat Raffia Industries Limited announced that they will report Q4, 2023 results on May 29, 2023 Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹0.36 (vs ₹0.43 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.36 (down from ₹0.43 in 3Q 2022). Revenue: ₹95.8m (up 70% from 3Q 2022). Net income: ₹1.96m (down 16% from 3Q 2022). Profit margin: 2.0% (down from 4.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 21% share price gain to ₹36.75, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 15x in the Packaging industry in India. Total returns to shareholders of 407% over the past three years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Additional Non-Executive Non Independent Director Anuj Purohit was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 08
Gujarat Raffia Industries Limited to Report Q3, 2023 Results on Feb 14, 2023 Gujarat Raffia Industries Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Aug 09
First quarter 2023 earnings released: EPS: ₹0.77 (vs ₹0.59 in 1Q 2022) First quarter 2023 results: EPS: ₹0.77 (up from ₹0.59 in 1Q 2022). Revenue: ₹128.4m (up 36% from 1Q 2022). Net income: ₹4.16m (up 30% from 1Q 2022). Profit margin: 3.2% (down from 3.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 01
Full year 2022 earnings released: EPS: ₹2.07 (vs ₹2.20 in FY 2021) Full year 2022 results: EPS: ₹2.07 (down from ₹2.20 in FY 2021). Revenue: ₹385.5m (flat on FY 2021). Net income: ₹11.2m (down 6.0% from FY 2021). Profit margin: 2.9% (down from 3.1% in FY 2021). Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 28% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Karan Chandalia was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 04
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.43 (up from ₹0.34 in 3Q 2021). Revenue: ₹57.0m (down 22% from 3Q 2021). Net income: ₹2.34m (up 26% from 3Q 2021). Profit margin: 4.1% (up from 2.6% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₹39.85, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 14x in the Packaging industry in India. Total returns to shareholders of 121% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improved over the past week After last week's 17% share price gain to ₹37.35, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 13x in the Packaging industry in India. Total returns to shareholders of 126% over the past three years. Reported Earnings • Nov 02
Second quarter 2022 earnings released: EPS ₹0.74 (vs ₹0.33 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹103.3m (up 9.1% from 2Q 2021). Net income: ₹4.02m (up 122% from 2Q 2021). Profit margin: 3.9% (up from 1.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹30.55, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 13x in the Packaging industry in India. Total returns to shareholders of 13% over the past three years. Executive Departure • Aug 19
Company Secretary & Compliance Officer Dhaval Patel has left the company On the 14th of August, Dhaval Patel's tenure as Company Secretary & Compliance Officer ended after 1.1 years in the role. We don't have any record of a personal shareholding under Dhaval's name. Dhaval is the only executive to leave the company over the last 12 months. Reported Earnings • Aug 18
First quarter 2022 earnings released: EPS ₹0.59 (vs ₹0.47 in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2022 results: Revenue: ₹94.7m (down 20% from 1Q 2021). Net income: ₹3.20m (up 26% from 1Q 2021). Profit margin: 3.4% (up from 2.1% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorated over the past week After last week's 22% share price decline to ₹35.15, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 18x in the Packaging industry in India. Total returns to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improved over the past week After last week's 21% share price gain to ₹83.35, the stock trades at a trailing P/E ratio of 37.8x. Average trailing P/E is 18x in the Packaging industry in India. Total returns to shareholders of 209% over the past three years. Reported Earnings • Jul 04
Full year 2021 earnings released: EPS ₹2.20 (vs ₹0.61 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹391.0m (up 16% from FY 2020). Net income: ₹11.9m (up 263% from FY 2020). Profit margin: 3.0% (up from 1.0% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 16% share price gain to ₹48.50, the stock trades at a trailing P/E ratio of 45.5x. Average trailing P/E is 12x in the Packaging industry in India. Total returns to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₹62.80, the stock trades at a trailing P/E ratio of 76x. Average trailing P/E is 10x in the Packaging industry in India. Total returns to shareholders of 45% over the past three years. Is New 90 Day High Low • Feb 25
New 90-day high: ₹72.05 The company is up 404% from its price of ₹14.30 on 27 November 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Packaging industry, which is up 2.0% over the same period. Reported Earnings • Feb 17
Third quarter 2021 earnings released: EPS ₹0.34 (vs ₹0.23 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ₹72.6m (down 24% from 3Q 2020). Net income: ₹1.86m (up 49% from 3Q 2020). Profit margin: 2.6% (up from 1.3% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 16% share price gain to ₹19.80, the stock is trading at a trailing P/E ratio of 28.6x, up from the previous P/E ratio of 24.6x. This compares to an average P/E of 11x in the Packaging industry in India. Total return to shareholders over the past three years is a loss of 73%. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 16% share price gain to ₹18.70, the stock is trading at a trailing P/E ratio of 27.8x, up from the previous P/E ratio of 24x. This compares to an average P/E of 10x in the Packaging industry in India. Total return to shareholders over the past three years is a loss of 72%. Is New 90 Day High Low • Jan 12
New 90-day high: ₹17.85 The company is up 12% from its price of ₹15.90 on 14 October 2020. The Indian market is up 24% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is up 14% over the same period. Valuation Update With 7 Day Price Move • Oct 30
Market pulls back on stock over the past week After last week's 18% share price decline to ₹13.80, the stock is trading at a trailing P/E ratio of 23.4x, down from the previous P/E ratio of 28.6x. This compares to an average P/E of 11x in the Packaging industry in India. Total returns to shareholders over the past year are 75%. Is New 90 Day High Low • Oct 07
New 90-day high: ₹13.90 The company is up 7.0% from its price of ₹12.95 on 09 July 2020. The Indian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Packaging industry, which is up 26% over the same period.