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×

sri vishnu shankar mill Limited

510.00
-2.30 %
Scrip Name
SVSML
ISIN No.
INE365Z01016
PAN No.
AACCS0536Q
Face Value
10
No. of Outstanding Shares
1,500,000
Market Capitalization
76.50 Crore

About Shri Vishnu Shankar Mill Ltd Unlisted Shares

Sri Vishnu Shankar Mill Limited (SVSML) was incorporated in the year 1981 and started its commercial production in the year 1983 with about 7,000 spindles of second-hand machines. Now it is the most modern plant with 70,032 spindles and 2016 rotors with state-of-the-art textile machines mostly imported machines.

SVSML is the part of Ramco Group of companies having diversified business activities viz. Textiles, Cement, Cement products, Surgical products, Software, and more.

The company has installed in total 13.35 MW of Wind turbine generators to save the power cost to the extent of 80% of the power requirement of the units at Rajapalayam.

Business strategy: SVSML has been on continuous expansion and modernization activities for the past 10 years keeping in view the long-term growth of the company. Only quality-conscious and most modern plants can survive in the long run in the acute competitive environment of the textile industry. Its products are well received by the end-users in the weaving and knitting sectors because of its consistent quality.

INCORPORATION DETAILS

CIN

U17301TN1981PLC008677

Registration Date

23 March 1981

Category/Sub-category of the Company

Company limited by Share

Address of the Registered office and contact details

Sri Vishnu Shankar Mill Premises,
P.A.C. Ramasamy Raja Salai,
Rajapalayam – 626117.
Phone : + 91 - 4563 – 235555 (5 Lines)
Fax No : + 91 - 4563 - 236493
E-mail: [email protected]

 BOARD OF THE DIRECTORS

P.R. VENKETRAMA RAJA

Chairman

S. SHARADA DEEPA

Managing Director

S.S. RAMACHANDRA RAJA

Director

R. CHITTAMMAL

Director

N.K. SHRIKANTAN RAJA

Director

S.R. SRIRAMA RAJA

Director

ARUNKUMAR GOENKA

Director

P.A.S. ALAGHAR RAJA

Director

S. KANTHIMATHINATHAN

Director

 SHAREHOLDING PATTERN as on March 31, 2021

Category

No. of Shares

% Holding

Promoters

Indian

9,31,690

62.11%

Foreign

0

0.00%

Public Shareholding

Institutional

17,400

1.16%

Non-Institutional

5,50,910

36.73%

Total

     15,00,000 

100.00%

 Products & Services

Count Ranges:

  • Ring yarn
  • Compact Yarn
  • TFO Doubled Yarn
  • OE Yarn
  • Gassed Yarn
  • Slub Yarn

Associate Companies

Name of Company

Type

Stake

The Ramco Cements Limited

Associate

1.31%

Rajapalayam Mills Limited

Associate

0.40%

Ramaraju Surgical Cotton Mills Limited

Associate

0.06%

JKR Enterprise Limited

Associate

0.001%

 Company Overview

Cotton: -

  • In India, the opening stock of cotton for the current cotton season 2020-21 (October to September) was historically at a high level of 120 Lakhs Bales due to lower consumption of cotton by Mills in India due to disruptions in manufacturing activities caused by the Covid-19 pandemic.
  • This, coupled with a higher production estimate of cotton during the current cotton crop season of 360 Lakhs bales has pulled down the cotton prices during the initial cotton season. 
  • Due to this, CCI has purchased a large volume of cotton under MSP operation, during peak arrivals of cotton bales in the market. However, the sentiment in the markets had slowly turned positive soon after the manufacturing activities started picking up due to relaxations announced by the Government, which was earlier disrupted on account of the Covid-19 pandemic.
  • The cotton prices have gone up by more than 30% compared to the price ruled during the initial cotton season. The prices of some of the imported cotton varieties especially the long stable fiber had also increased very steeply to the extent of 40% to 75% within a period of 3 to 4 months' time.
  • The Company is focusing to produce more value-added count and in order to meet the quality requirement of value-added counts, more volume high-quality imported cotton has been procured when the prices were cheaper. This strategy has helped the Company to procure diversified varieties of cotton across the globe and to quote competitive prices for yarn, which helped to improve the operating margin in the last quarter of the financial year 2020-21.

Yarn Production & Sale: -

  • The production volume has decreased to 44.25 Lakhs Kgs during the financial year 2020-21 as against 48.31 Lakhs Kgs of last year due to lockdown imposed by the Government for 2 months during April 2020 & May 2020. Despite the adverse conditions that prevailed during the first 6 months of the financial year under review due to the COVID-19 pandemic, there is no slowdown in Company's focus on new product development, innovation, and cost-effective production.
  • In spite of the reduction in production volume by 8%, the Company was able to achieve growth in sale volume due to the liquidation of stock. 
  • The sale volume has decreased in line with production and accumulation of stock at the end of the financial year 2020-21. The sale volume for the FY 2020-21 stood at 49.79 Lakh Kgs as compared to 48.18 Lakh Kgs of last year an increase of 3%. The sale value of yarn has increased to ₹ 176.36 Crores during the FY 2020-21 as compared to  157.33 Crores of last year registering a growth of 3%.
  • The Company's quality of yarn in the value-added segment has been well appreciated by the customers and the Company is receiving a very good volume of orders for value-added counts. The Company is taking various steps to expand its market presence both in domestic and international markets and hopes to achieve a higher volume of sales in value-added yarns in the forthcoming years. 
  • The yarn market in India has bounced back after witnessing a slowdown in the last 2 years. Due to geopolitical factors like trade, the war between the US and China, and the diversion of sourcing textile products by many top global garment brands from China to India boosted the demand for textile products including yarn manufactured in India. Due to good demand from the domestic market, the Company was able to liquidate the yarn stock from 30.34 Crores as on 01-04-2020 to  8.15 Crores as on 31-03-2021.
  • Have made export of Cotton Yarn (including merchant exports) for a value of  42.44 Crores as against ₹ 55.00 Crores of the previous year. In addition to regular International Market, sales volume has grown considerably in new markets viz. Turkey, Portugal, etc. where yarn quality is well accepted.

Wind Mill: -

  • The Company has windmills with an installed capacity of 13.35 MW for its captive power consumption. The wind farm has generated 197 Lakhs Kwh as compared to 198 Lakhs Kwh of the previous year. The wind availability/velocity during the financial year 2020-21 was low as compared to the financial year 2019-20. All the Units generated by windmills were adjusted for captive consumption at Mills in Tamil Nadu. The income during the year from the Wind Mill Division was 13.19 Crores as against  13.28 Crores of the previous year.

Modernization / Expansion: -

  • As a part of the continuous thrust on modernization program, the Company has replaced 2 Nos. old Open End (OE) Spinning Machines with most modern fully automatic OE Machines at a cost of ₹ 12 Crores.
  • The Company has already received these New OE Machines and the installation of all machines has been completed on 30-04-2021. With the installation of these advanced machines, the Company will focus to sell the OE yarn in different value-added segments like OE yarn for knitting segments, Denim Segments, etc. which are untapped by the Company so far.
  • The Company has also planned to increase the spindles capacity of the Company from the existing 62,958 spindles and 1,008 rotors to 80,238 Spindles and 1,008 rotors at a project cost of about ₹ 40 Crores. Orders for the machines have already been placed and delivery of the machine is expected in August 2021.
  • As a part of continuous thrust on modernization and expansion program, the Company has invested about ₹ 8.00 Crores in textile machinery & equipment's like, used good condition LR6-S Ring Frames by replacing old G5/1 Ring Frames, K43 Rieter Ring Frame, Texpart Top Arm, Suessen Compact CDS System, Flexi Clean, and Unimix & New Waste Collection System, etc.

Financials at A Glance

Standalone Profit and Loss Statement  

Key Financials

2018-19

2019-20

2020-21

CAGR 

 

Revenue from Operations

              207.39 

          163.85 

            180.61 

-6.68%

Total Income

              229.76

          190.87

            198.56

-7.04%

Finance Cost

                18.27

             17.86

              15.39

-8.22%

Depreciation & Amortization 

                19.04

             13.92

              12.78

-18.08%

Total Expenses

              227.81 

          185.06 

            191.51 

-8.31%

EBITDA

                39.26 

             37.59 

              35.22 

-5.29%

PAT

                   6.33

               9.86

                 7.67

10.06%

No. of Eq. Shares Outstanding

                   0.15

               0.15

                 0.15

0.00%

EPS* (in )

                95.30 

          126.80 

            120.71 

12.54%

Share Capital 

                   1.50

               1.50

                 1.50

0.00%

Total Net Worth

              163.94

          170.28

            183.60

5.83%

Total Assets

              389.35

          360.81

            370.22

-2.49%

Total Debt

              189.96

          180.91

            176.72

-3.55%

 Consolidated Financial Statements

DIVIDEND HISTORY

 

Particulars

2021

2020

Dividend (final + interim) (In Rs.)

Nil

Nil

 Financial Performance 

The financial results for the year ended 31st March 2021 

  • after charging all expenses but before deducting finance cost and depreciation have resulted in Standalone operating profit (EBITDA) of ₹ 3,614.84 Lakhs against  3,948.48 Lakhs for the previous financial year 2019-20.
  • The company was able to consume power from its own wind farms to the extent of 69% (PY: 60%) of the total power requirement. Because of lower power generation from windmills, the Company was forced to consume power from other sources, which are high cost. The power cost has been decreased during the financial year 2020-21 to ₹ 10.88 Crores as compared to ₹ 14.93 Crores incurred during the previous year. The reduction in power cost is partly due to lockdown imposed by the Government for 2 months during April 2020 & May 2020 on account of the Covid-19 pandemic and also because of various energy conservation measures taken by the Company.
  •  
  • The Finance cost has decreased to  1,539.29 Lakhs during the financial year 2020-21 from  1,785.88 Lakhs of the previous financial year mainly due to a reduction in the cost of borrowings.

Peer Company Analysis

Key Financials - FY21

 

Sri Vishnu Shankar 

Ambika Cotton Mills Limited

Nitin Spinners Limited

CMP*

 

                  625

        1,950

            222

Market Cap (In Cr.)

 

               93.75

   1,116.38

    1,246.96

EPS (Earnings Per Share)

 

             120.71

      118.68

         12.25

BVPS (Book Value Per Share)

 

          1,224.01

      987.26

       100.20

P/E

 

                 5.18

        16.43

         18.11

P/BV

 

                 0.51

          1.98

           2.21

EBITDA Margin

 

19.50%

19.86%

15.95%

ROE

 

4.18%

12.02%

12.23%

ROA

 

2.07%

10.80%

4.11%

 

Annual Reports

2021-22

Download

2020-21

Download

2019-20

Download

Corporate Actions

2020-21

Download
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