ELLCOT SPINNING MILLS LIMITED

Financials Ellcot Spinning Mills Limited

Equities

ELSM

PK0040801018

Textiles & Leather Goods

End-of-day quote Pakistan S.E. Other stock markets 06:00:00 2024-05-20 pm EDT			5-day change	1st Jan Change
89 ^PKR	+2.89%		+1.15%	-3.05%

Apr. 30	Ellcot Spinning Mills Limited Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024	CI
Feb. 24	Ellcot Spinning Mills Limited Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023	CI

Valuation

Fiscal Period: June	2017	2018	2019	2020	2021	2022
Capitalization ¹	1,132	781.8	865	985.3	1,347	1,785
Enterprise Value (EV) ¹	2,060	4,443	3,645	3,436	3,205	4,947
P/E ratio	14.6 x	5.99 x	4.22 x	4.36 x	1.66 x	1.45 x
Yield	3.38%	8.4%	7.6%	-	8.13%	6.14%
Capitalization / Revenue	0.23 x	0.14 x	0.14 x	0.16 x	0.17 x	0.16 x
EV / Revenue	0.42 x	0.8 x	0.57 x	0.56 x	0.42 x	0.46 x
EV / EBITDA	7.09 x	12.3 x	5.28 x	4.5 x	2.35 x	2.39 x
EV / FCF	-17.2 x	-1.6 x	3.64 x	15.7 x	14.9 x	-2.53 x
FCF Yield	-5.81%	-62.7%	27.5%	6.35%	6.72%	-39.5%
Price to Book	0.78 x	0.5 x	0.53 x	0.56 x	0.53 x	0.48 x
Nbr of stocks (in thousands)	10,950	10,950	10,950	10,950	10,950	10,950
Reference price ²	103.4	71.40	79.00	89.98	123.0	163.0
Announcement Date	10/5/17	10/4/18	10/3/19	10/5/20	10/5/21	10/4/22

¹PKR in Million²PKR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2017	2018	2019	2020	2021	2022
Net sales ¹	4,869	5,563	6,347	6,153	7,716	10,873
EBITDA ¹	290.5	360.9	690.5	763.3	1,364	2,071
EBIT ¹	164.5	222.6	424.3	507.3	1,091	1,716
Operating Margin	3.38%	4%	6.69%	8.25%	14.14%	15.78%
Earnings before Tax (EBT) ¹	121	132	167.5	361.4	1,016	1,629
Net income ¹	77.67	130.5	204.8	225.9	813.6	1,231
Net margin	1.6%	2.35%	3.23%	3.67%	10.54%	11.32%
EPS ²	7.093	11.92	18.70	20.63	74.30	112.4
Free Cash Flow ¹	-119.6	-2,784	1,002	218.2	215.3	-1,956
FCF margin	-2.46%	-50.05%	15.79%	3.55%	2.79%	-17.99%
FCF Conversion (EBITDA)	-	-	145.12%	28.59%	15.78%	-
FCF Conversion (Net income)	-	-	489.37%	96.61%	26.46%	-
Dividend per Share ²	3.500	6.000	6.000	-	10.00	10.00
Announcement Date	10/5/17	10/4/18	10/3/19	10/5/20	10/5/21	10/4/22

¹PKR in Million²PKR

Estimates

Balance Sheet Analysis

Fiscal Period: June	2017	2018	2019	2020	2021	2022
Net Debt ¹	928	3,661	2,780	2,450	1,858	3,163
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.193 x	10.14 x	4.026 x	3.21 x	1.362 x	1.527 x
Free Cash Flow ¹	-120	-2,784	1,002	218	215	-1,956
ROE (net income / shareholders' equity)	5.42%	8.71%	12.9%	13.3%	37.8%	39.1%
ROA (Net income/ Total Assets)	3.3%	2.9%	4.48%	5.78%	11.8%	13.8%
Assets ¹	2,351	4,506	4,574	3,908	6,899	8,936
Book Value Per Share ²	132.0	141.0	149.0	160.0	233.0	341.0
Cash Flow per Share ²	1.460	1.550	11.70	2.370	3.260	4.680
Capex ¹	99.2	1,620	107	289	689	1,620
Capex / Sales	2.04%	29.11%	1.69%	4.7%	8.93%	14.9%
Announcement Date	10/5/17	10/4/18	10/3/19	10/5/20	10/5/21	10/4/22

¹PKR in Million²PKR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Yarn Goods

	1st Jan change	Capi.
ELLCOT SPINNING MILLS LIMITED	-3.05%	3.5M
CHINA JUSHI CO., LTD.	+27.26%	6.92B
VARDHMAN TEXTILES LIMITED	+14.00%	1.55B
ZHEJIANG TAIHUA NEW MATERIAL GROUP CO., LTD.	-0.50%	1.38B
BROS EASTERN.,LTD	+18.07%	1.18B
HUAFU FASHION CO., LTD.	+2.09%	974M
TAINAN SPINNING CO., LTD.	+9.81%	889M
ZHEJIANG XINAO TEXTILES INC.	+12.08%	806M
THE JAPAN WOOL TEXTILE CO., LTD.	-1.34%	588M
TEXHONG INTERNATIONAL GROUP LIMITED	+8.90%	567M

Stock Market
Equities
ELSM Stock
Financials Ellcot Spinning Mills Limited

-40% Exceptional extension: Our subscriptions help you unlock the best investment opportunities.

BENEFIT NOW