Mehabe score: 4 G Factor: 2 Piotski Score: 5 The stock has a rating SELL. The mehabe team score is reflective of its fundamental and technical merits. A rating above 8 is considered good buy. The stock has a G-Factor of 2 and Piotski score of 5.
Description
Panorama Studios (previously known as Apunka Invest Commercial) is an Indian film production and distribution company established by Kumar Mangat PathakSite:539469Main Symbol:PANORAMA
Stock trades at 37.6, below its 50dma 43.8 and below its 200dma 41.66. The stock remains bearish on technicals
The 52 week high is at 81.00 and the 52week low is at 33.40
Price Chart
P/E Chart
Sales and Margin
Strengths
– is almost debt free.
-Debtor days have improved from 1967.83 to 101.05 days.
Weakness
– Stock is trading at 6.04 times its book value
-Though the company is reporting repeated profits, it is not paying out dividend
– has a low return on equity of 6.80% for last 3 years.
-Earnings include an other income of Rs.1.20 Cr.
-‘s cost of borrowing seems high
Competition
– The industry trades at a mean P/E of 33.7x. Saregama India trades at the industry’s max P/E of 48.59x. 539469 trades at a P/E of 43.4x
– Industry’s mean G-Factor is 3.2 while the mean Piotski score is 8.0. 539469 has a G-Factor of 2 and Piotski scoreof 5.
– Average 1 month return for industry is 1.2%. The max 1- month return was given by Saregama India: a return of 29.34 %
Quarterly Results
Sales for period ended Mar 2021 is Rs 14.38 cr compared to Rs 5.51 cr for period ended Mar 2020, a rise of 161.0%
Operating Profits reported at Rs 1.02 cr for period ended Mar 2021 vis-vis 3.02 for period ended Mar 2020 .
Operating Margins contracted -4771.6 bps for period ended Mar 2021 vis-vis Mar 2020 .
The EPS for Mar 2021 was Rs 1.1 compared to Rs 0.28 for previous quarter ended Dec 2020 and Rs 2.93 for Mar 2020
Profit & Loss Statement
Profit&Loss Comments
Company reported sales of Rs 14.81 cr for period ended Mar 2021 vis-vis sales of Rs 22.43 cr for the period ended Mar 2020, a fall of 51.5%. The 3 year sales cagr stood at 150.7%.
Operating margins expanded to 2.7% for period ended Mar 2021 vis-vis 0.8% for period ended Mar 2020, expansion of 190.0 bps.
Net Profit reported at Rs 1.08 cr for period ended Mar 2021 vis-vis sales of Rs 0.16 cr for the period ended Mar 2020, rising 85.2%.
Company recorded a healthy Net Profit CAGR of 376.2% over the last 3 years
Balance Sheet Statement
Cash Flow Statement
Cash Flow comments
CashFlow from operating activities: Rs 0.0 cr for period ended Mar 2021 vis-vis Rs -2.92 cr for period ended Mar 2020
Sales Growth
Profit Growth Statement
Profit Growth Statement
Stock Price CAGR
Return of Equity
General Comments
– The company has improved its Return on Equity (RoE) metric. The RoE on Last Year basis was 14.0% compared to 7.0% over the last 3 Years. – The stock has given a return of -28% on a 1 Year basis vis-vis a return of 46% over the last 3 Years. – The compounded sales growth on a TTM bassis is -34% vis-vis a compounded sales growth of 151% over the last 3 Years. – The compounded profit growth on a TTM basis is 575% vis-vis a compounded profit growth of 376% over the last 3 Years.
Ratios
Shareholding Pattern
– Public shareholding has remained largely constant. The Mar 2021 public holding stood at 32.7% vis-vis 32.7% for Dec 2020
Conclusion
– is almost debt free.
-Debtor days have improved from 1967.83 to 101.05 days. – Stock is trading at 6.04 times its book value
-Though the company is reporting repeated profits, it is not paying out dividend
– has a low return on equity of 6.80% for last 3 years.
-Earnings include an other income of Rs.1.20 Cr.
-‘s cost of borrowing seems high
Fundamentally, the stock remains weak. The business fundamentals are on shaky ground. Weak near term results have dampened and questioned business drivers. We suggest to wait for a upturn in business performance.
Technically, the stock reflects the poor fundamentals. The stock remains below its 50 DMA 43.8 and is trading at 37.6. It has shown near term lack of bullish momentum. We suggest to observe price action. However as investors, who like to avoid timing the markets, we suggest to avoid the stock
