Print Page | Close Window

Rupa & Co

Printed From: The Equity Desk
Category: Investment Ideas - Creating winning portfolios!
Forum Name: Stock Synopsis
Forum Discription: A bried discussion of companies on very specific matters. Normally this is the prelude for further research as always members would be discussing quality companies with good management only
URL: http://www.theequitydesk.com/forum/forum_posts.asp?TID=3403
Printed Date: 21/Apr/2025 at 4:23pm


Topic: Rupa & Co
Posted By: kumarn
Subject: Rupa & Co
Date Posted: 09/Sep/2011 at 3:37pm
Rupa got listed today at 200. Now trading at 215. It is trading at 45-50 times trailing eps!


Replies:
Posted By: shivkumar
Date Posted: 09/Sep/2011 at 5:20pm
Rupa's net profit margin is about half of Page's though toplines of both companies are growing at similar rates. Since Rupa is a price warrior it is a tribute to Page's management bandwidth.

Having said that Rupa has launched premium categories of inner wear under the Xing tag which is finding good displays in modern retail formats at least in Mumbai. As user who switched from Jockey to Xing I can say the quality is really good with a price tag that is lower by at least 40 per cent.

Posted By: paps3535
Date Posted: 09/Sep/2011 at 7:58pm
Economic times screener shows:
 
Market Cap (Rs Cr.):8
EPS - TTM (Rs):0.85
P/E Ratio (x):235.29
Face Value (Rs):1.00
Latest Div. (%):NaN
Div. Yield (%):N.A.
Book Value / sh. (Rs) :21.68
P/B Ratio (x):0.05
 
Edelweiss shows:
 
MCap.( ` in Cr.) : 429 P/E (x) : 12.7 EPS ( ` ) : 4.24
BV ( ` ) : 21.02 Div. Yield (%) : 0.4 FV ( ` ) : 1.00
 
 
 
can anyone provide exact valuation of Rupa & co.?..How does it lok compared to Page and lovable?


-------------
Everything has good end.if it is not good,then it is not the end.

Posted By: tyler_durden
Date Posted: 09/Sep/2011 at 10:52pm
checkout the rediff page -- mcap 1590 cr..P.E 4 and ROE 27..this makes it interesting...

anyways, their microman range is as good as jockey...actually i find their vests better than equally priced jockeys...

-------------
If you aren't fired with enthusiasm, you will be fired with enthusiasm.

Posted By: tyler_durden
Date Posted: 09/Sep/2011 at 10:56pm
i didn't know rupa was supposed to be listed today....while taking off my vest ...i immediately checked rediff money to see whether rupa is listed or not...quite a co-incidence... i am thinkin of putting some money here...

-------------
If you aren't fired with enthusiasm, you will be fired with enthusiasm.

Posted By: Monkey
Date Posted: 09/Sep/2011 at 12:18pm
 
Rupa's annual report for year ending March 2011 & results and share holding pattern for June '11 are available on their website. Link is below:
 
http://www.rupa.co.in/images/downloads/AnnualReport2010-2011.pdf - http://www.rupa.co.in/images/downloads/AnnualReport2010-2011.pdf
 
http://www.rupa.co.in/images/downloads/Shareholding%20Pattern%2030.06.2011.pdf - http://www.rupa.co.in/images/downloads/Shareholding%20Pattern%2030.06.2011.pdf
 
http://www.rupa.co.in/images/downloads/June%202011%20financial%20results.pdf - http://www.rupa.co.in/images/downloads/June%202011%20financial%20results.pdf
 
Quick note - As per annual report, there are about 80 lacs shares outstanding with face value of Rs. 10/-. However, share holding pattern at end of June '11 says there are about 8 crore shares outstanding. Must be huge bonus in that quarter. At Rs. 200/- per piece, this gives market cap of about Rs. 1600 crore.
 
Reserves are about Rs. 155 crores.
 
Debt is 183 crores making it quite a leveraged company.
 
Gross block is 128 cr and net block is 105 cr. Seems quite some capex in recent years.
 
Sales is 638 cr with gross profit of 48 cr. 8% gross margins? Net profit is 3.2 cr. Return ratios are not good.
 
Operating cash flow is negative.
 
75% equity is with promoters and other 23% is with corporate bodies. Individual share holders are having just 2% of capital.
 
All in all, not a good impression from quick look at figures.
 
 

Posted By: NeerajMarathe
Date Posted: 09/Sep/2011 at 1:10am
Even in the June 2011 results which are available, the face value of the shares is Rs.10. The shares which have been listed today are of Re.1 face value. So they must have done a stock split somewhere in between.
Hence, the EPS and PE ratio shown by some sites like rediff (4x PE Ratio) is erroneous.

-------------
Regards
Neeraj Marathe

Posted By: Monkey
Date Posted: 10/Sep/2011 at 12:05pm
 
Article from Economic times:
 
http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/rupa-co-on-fire-lists-on-bse-at-50-premium/articleshow/9930203.cms - http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/rupa-co-on-fire-lists-on-bse-at-50-premium/articleshow/9930203.cms
 
 
I think they have made typo error related to face value in their quarterly statements. In any case, comparing its valuation to Page is not really accurate given poor state of balance sheet and poor return ratio for Rupa.
 

Posted By: tyler_durden
Date Posted: 10/Sep/2011 at 12:31pm
Originally posted by Monkey

 

Rupa's annual report for year ending March 2011 & results and share holding pattern for June '11 are available on their website. Link is below:

 

http://www.rupa.co.in/images/downloads/AnnualReport2010-2011.pdf - http://www.rupa.co.in/images/downloads/AnnualReport2010-2011.pdf

 

http://www.rupa.co.in/images/downloads/Shareholding%20Pattern%2030.06.2011.pdf - http://www.rupa.co.in/images/downloads/Shareholding%20Pattern%2030.06.2011.pdf

 

http://www.rupa.co.in/images/downloads/June%202011%20financial%20results.pdf - http://www.rupa.co.in/images/downloads/June%202011%20financial%20results.pdf

 

Quick note - As per annual report, there are about 80 lacs shares outstanding with face value of Rs. 10/-. However, share holding pattern at end of June '11 says there are about 8 crore shares outstanding. Must be huge bonus in that quarter. At Rs. 200/- per piece, this gives market cap of about Rs. 1600 crore.

 

Reserves are about Rs. 155 crores.

 

Debt is 183 crores making it quite a leveraged company.

 

Gross block is 128 cr and net block is 105 cr. Seems quite some capex in recent years.

 

Sales is 638 cr with gross profit of 48 cr. 8% gross margins? Net profit is 3.2 cr. Return ratios are not good.

 

Operating cash flow is negative.

 

75% equity is with promoters and other 23% is with corporate bodies. Individual share holders are having just 2% of capital.

 

All in all, not a good impression from quick look at figures.

 

 


This is very helpful...Kudos...

Basant Sir -- why don't we have a button next to the "report" button to like posts or give kudos/thanks for helpful posts?? :)

Just a suggestion...maybe after 1000 kudos the member gets 1% stock holding in TED?? ;)

-------------
If you aren't fired with enthusiasm, you will be fired with enthusiasm.

Posted By: Circuit
Date Posted: 10/Sep/2011 at 1:50pm
Rupa does not make innerwear for fair sex ? While the other lovable does not love men ;)


-------------
Fundamentalists and anticipators may have difficulties with risk control because a trade keeps looking ‘better’ the more it goes against them....Ed Seykota

Posted By: TCSer
Date Posted: 10/Sep/2011 at 4:14pm
wasnt he same guy who was involved in suicide / murder of lover of his daughter 1-2 years back?

how strong is he ethically?


-------------
Share market is nothing but a game of temperament. Success mantra Right Price,Right Business,Patience, Conviction .Do not do panic buying or selling.It may be the only profession where inactivity pays

Posted By: Ravenrage
Date Posted: 10/Sep/2011 at 4:50pm
Originally posted by TCSer

wasnt he same guy who was involved in suicide / murder of lover of his daughter 1-2 years back?how strong is he ethically?


That was Lux ! The one you are talking about is Mr. Ashok Todi .

-------------
Risk does not reside in price changes, but in miscalculations of intrinsic value .

Posted By: paps3535
Date Posted: 13/Sep/2011 at 2:16pm
Originally posted by tyler_durden

checkout the rediff page -- mcap 1590 cr..P.E 4 and ROE 27..this makes it interesting...

anyways, their microman range is as good as jockey...actually i find their vests better than equally priced jockeys...
 
 
PE 4 and ROE 27...really?...
doesn't this make the company an interesting bet?....


-------------
Everything has good end.if it is not good,then it is not the end.

Posted By: shri1074
Date Posted: 14/Sep/2011 at 10:26am
Economic times shows PE of 214
http://economictimes.indiatimes.com/rupa-&-company-ltd/stocks/companyid-4994.cms

Stock is hitting lower circuit for two days.

Posted By: shontou
Date Posted: 03/Oct/2011 at 5:40pm
Analyst Meet      
          Rupa & Company
Company expects sales growth of around 20% and profit growth of more than 30% in FY'12


The following are the extracts from Analyst Presentation made at Analyst Meet held on 22nd Sep'11. The analyst meet was addressed by Chairman Mr. P R Agarwala and MD Mr. K. B. Agarwala

Key highlights
Rupa & Co. Ltd (Rupa) is one of the largest knitted innerwear products company in India which owns a bouquet of leading Knitted Innerwear & Intimate wear brands in India. It has a wide array of products and caters to the innerwear, casual wear and thermal wear markets for men, women and kids for all segments of the society.
The company caters to all product segments across all distinct product categories of the Intimate Wear vertical covering the Basic, Mid Premium, Premium and Super Premium segments
Its brand list includes Rupa, Rupa Frontline, Air, Macroman, Macroman M'Series, Euro, Softline, Kidline, Bumchums, and Thermocot.
As per the management, the Indian Innerwear market was about Rs 13000 crore market in 2010. The rising income and brand conscious concept among the youth generation of India, will continue to drive sales for the company. The industry from 2010-2015 is expected to grow at CAGR of about 15% in value terms and about 10% in volume terms.
On geographical market mix basis, the Indian rural market contributes about 63% of total domestic innerwear industry primarily due to higher rural population. However the branded products are so far less penetrated in rural markets. The higher agricultural incomes will, according to the management, lead to higher demand for branded products and thus, will lead to higher demand for company's products.
There are hardly any imports of inner wear in India, as the market requires strong distribution and brand building exercise.
Rupa was listed in Calcutta Stock Exchange and Jaipur Stock Exchange since 1996 and subsequently it got listed in BSE on 9th Sep'11. The company has further plans to get listed in NSE as well.
Rupa invests about 8% of its revenues in brand building every year and owns all its brands. The company is predominately an India focused player.
The company outsourcers nearly 95% of its entire products to various dedicated job work players available in the open market. It ensures the quality and other characteristics are maintained while plays a aggressive role on brand building and on sale side. It has more than 1,00,000 outlets with the support of over 950 dealers and distributors. The entire business model is on dealer and distributor model and there are no franchisees of the company.
On geographical wise basis, nearly 44% of total sales come from Eastern India, about 20% from Northern India 15% from Western and 13% from Central India and the rest from South India. Thus the sale is very dominant from Eastern region, from where the company started its business. However, the geographical % sale from rest of the region is increasing and according to the management, the other geographies will continue to increase their share in total sales.
The company has been constituently able to report CAGR growth of about 19% in sales and CAGR growth of about 35% in PAT. Overall, management expects sales growth of about 20% and profit growth of more than 30% in FY'12.

-------------
Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday?

Posted By: shontou
Date Posted: 04/Nov/2011 at 1:24pm
Rupa & Company net profit rises 36.30% in the September 2011 quarter

Sales rise 22.85% to Rs 227.92 crore

Net profit of Rupa & Company rose 36.30% to Rs 14.23 crore in the quarter ended September 2011 as against Rs 10.44 crore during the previous quarter ended September 2010. Sales rose 22.85% to Rs 227.92 crore in the quarter ended September 2011 as against Rs 185.53 crore during the previous quarter ended September 2010.
Particulars     Quarter Ended
     Sep. 2011     Sep. 2010     % Var.
Sales     227.92     185.53     23
OPM %     12.07     10.77     12
PBDT     22.50     16.55     36
PBT     20.95     15.63     34
NP     14.23     10.44     36

-------------
Every day, self-proclaimed stock market "experts" tell us why the market just went up or down, as if they really knew. So where were they yesterday?

Posted By: nikrod12
Date Posted: 04/Nov/2011 at 1:30pm
What is reason for low net margin of Rupa? Margin this quarter seems to be 6.2%. If raw meterial cost increases sharply, it'll be caught on wrong foot. And I don't think Rupa has same pricing power as Jockey since it competes in mass segment.

Posted By: Circuit
Date Posted: 09/Apr/2012 at 2:58pm
http://www.moneycontrol.com/news/stocks-views/rupacompany-has-targetrs-175-pn-vijay_690136.html - Fundamentalists and anticipators may have difficulties with risk control because a trade keeps looking ‘better’ the more it goes against them....Ed Seykota


Print Page | Close Window