NAGINA COTTON MILLS LIMITED

Financials Nagina Cotton Mills Limited

Equities

NAGC

PK0034301017

Textiles & Leather Goods

End-of-day quote Pakistan S.E. Other stock markets 03:30:00 20/05/2024 am IST			5-day change	1st Jan Change
51 ^PKR	-0.97%		+0.99%	-7.69%

01/05	Nagina Cotton Mills Limited Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024	CI
24/02	Nagina Cotton Mills Limited Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023	CI

Valuation

Fiscal Period: Juni	2017	2018	2019	2020	2021	2022
Capitalization ¹	797.6	746.1	782.6	728	1,396	1,474
Enterprise Value (EV) ¹	1,590	2,066	2,908	4,094	2,590	4,292
P/E ratio	10.2 x	4.72 x	2.54 x	95.4 x	1.88 x	0.81 x
Yield	7.03%	10%	11.9%	-	13.4%	12.7%
Capitalization / Revenue	0.15 x	0.13 x	0.11 x	0.1 x	0.19 x	0.13 x
EV / Revenue	0.3 x	0.35 x	0.42 x	0.58 x	0.36 x	0.38 x
EV / EBITDA	5.27 x	4.16 x	4.04 x	7.45 x	1.86 x	1.84 x
EV / FCF	-5.97 x	-3.97 x	-3.85 x	-3.53 x	1.37 x	-1.99 x
FCF Yield	-16.7%	-25.2%	-25.9%	-28.3%	72.9%	-50.3%
Price to Book	0.45 x	0.4 x	0.39 x	0.39 x	0.54 x	0.34 x
Nbr of stocks (in thousands)	18,700	18,700	18,700	18,700	18,700	18,700
Reference price ²	42.65	39.90	41.85	38.93	74.65	78.80
Announcement Date	05/10/17	05/10/18	03/10/19	02/10/20	05/10/21	04/10/22

¹PKR in Million²PKR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June	2017	2018	2019	2020	2021	2022
Net sales ¹	5,242	5,879	6,932	7,070	7,185	11,236
EBITDA ¹	301.6	496.8	719.2	549.5	1,393	2,338
EBIT ¹	150.8	340.1	564.7	316.2	1,099	2,017
Operating Margin	2.88%	5.78%	8.15%	4.47%	15.29%	17.95%
Earnings before Tax (EBT) ¹	110.9	223.6	361.1	100.3	988.9	1,827
Net income ¹	78.43	158.2	308.6	7.629	743.5	1,813
Net margin	1.5%	2.69%	4.45%	0.11%	10.35%	16.13%
EPS ²	4.194	8.460	16.50	0.4080	39.76	96.93
Free Cash Flow ¹	-266.2	-520.7	-754.4	-1,158	1,888	-2,158
FCF margin	-5.08%	-8.86%	-10.88%	-16.38%	26.28%	-19.21%
FCF Conversion (EBITDA)	-	-	-	-	135.56%	-
FCF Conversion (Net income)	-	-	-	-	253.95%	-
Dividend per Share ²	3.000	4.000	5.000	-	10.00	10.00
Announcement Date	05/10/17	05/10/18	03/10/19	02/10/20	05/10/21	04/10/22

¹PKR in Million²PKR

Estimates

Balance Sheet Analysis

Fiscal Period: Juni	2017	2018	2019	2020	2021	2022
Net Debt ¹	792	1,320	2,125	3,366	1,194	2,818
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.626 x	2.656 x	2.955 x	6.126 x	0.8571 x	1.205 x
Free Cash Flow ¹	-266	-521	-754	-1,158	1,888	-2,158
ROE (net income / shareholders' equity)	4.51%	8.73%	15.9%	0.39%	33.4%	52.7%
ROA (Net income/ Total Assets)	2.81%	4.95%	6.57%	3.1%	10.3%	15.2%
Assets ¹	2,794	3,197	4,700	245.9	7,208	11,907
Book Value Per Share ²	93.90	99.80	108.0	101.0	137.0	230.0
Cash Flow per Share ²	1.170	27.90	8.190	2.320	10.50	4.070
Capex ¹	269	54.9	754	1,238	129	1,840
Capex / Sales	5.14%	0.93%	10.88%	17.51%	1.79%	16.38%
Announcement Date	05/10/17	05/10/18	03/10/19	02/10/20	05/10/21	04/10/22

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.
NAGINA COTTON MILLS LIMITED	-7.69%	3.43M
CHINA JUSHI CO., LTD.	+28.89%	7.01B
VARDHMAN TEXTILES LIMITED	+15.66%	1.6B
ZHEJIANG TAIHUA NEW MATERIAL CO.,LTD	-0.50%	1.38B
BROS EASTERN.,LTD	+17.25%	1.17B
HUAFU FASHION CO., LTD.	+5.58%	1.01B
TAINAN SPINNING CO., LTD.	+11.39%	904M
ZHEJIANG XINAO TEXTILES INC.	+12.08%	806M
THE JAPAN WOOL TEXTILE CO., LTD.	-0.82%	592M
ZHEWEN PICTURES GROUP CO.,LTD	-20.24%	544M

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