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Aspinwall and Company Limited

ISIN : INE991I01015
NSE : ASPINWALL
Face Value : 10
Industry : Diversified

EPS : 13.66
EPS (TTM) : 16.40
Price to Earning (P/E) : 17.03
Book Value : 234.35
Price to Bookvalue (P/B) : 0.99
Dividend Yield : 3 %
Return on Equity (ROE) : 5.93 %
Return on Capital Employed (ROCE) : 6.80 %

Aspinwall and share price (28-Mar-2025)
National Stock Exchange NSE
Open / Close	236 - 232.65 -1.4 %
Low / High	230.05 - 247.7 7.7 %
Trade Volume	27,847
52 Week Low / High	0 - 0 NAN %

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Consolidated Standalone

CONSOLIDATED QUARTERLY RESULT FOR ASPINWALL AND COMPANY LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	732.2	869.9	769.5	650.5	655.3	724	592.6	860.9	778.9	829.8
Total Income	741.9	880	777.5	656.3	677.4	755	600	873.7	818.2	851.6
Total Expenditure	672.6	775.9	716.9	607.8	632.9	716.5	566	828.8	754.1	787.2
Other Income	9.7	10.1	8	5.8	22.1	31	7.4	12.8	39.3	21.8
Operating Profit	69.3	104.1	60.6	48.5	44.5	38.5	34	44.9	64.1	64.4
Interest	0.5	5.5	2.5	5	2.7	7.6	12.4	10.5	3.6	6.3
Exceptional Items	1.1	161.1
PBDT	69.9	259.7	58.1	43.5	41.8	30.9	21.6	34.4	60.5	58.1
Depreciation	10.3	10.6	11.1	11.2	13.3	11.6	11.9	12.8	15.6	12.3
Profit Before Tax	59.6	249.1	47	32.3	28.5	19.3	9.7	21.6	44.9	45.8
Tax	12	33.6	10.6	13.8	13.4	4.1	0.8	-4.7	-11.5	9.1
Profit After Tax	47.6	215.5	36.4	18.5	15.1	15.2	8.9	26.3	56.4	36.7
Net Profit	47.6	215.5	36.4	18.5	15.1	15.2	8.9	26.3	56.4	36.7
Equity Capital	78.2	78.2	78.2	78.2	78.2	78.2	78.2	78.2	78.2	78.2
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Calculated EPS	6.09	27.56	4.65	2.37	1.93	1.94	1.14	3.36	7.21	4.69
Diluted Eps After Extraordinary Items	6.09	27.56	4.65	2.37	1.93	1.94	1.14	3.36	7.21	4.69
Diluted Eps Before Extraordinary Items	6.09	27.56	4.65	2.37	1.93	1.94	1.14	3.36	7.21	4.69

STANDALONE QUARTERLY RESULT FOR ASPINWALL AND COMPANY LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	719.3	858.4	758.1	635.3	636.7	709.4	575.1	828.6	757.6	816.5
Total Income	729.1	868.5	769	652.4	657.8	739.5	585.3	840.1	818.5	837.1
Total Expenditure	659.7	765.3	705.2	594.7	617.3	703.5	547.7	799.7	726.3	778
Other Income	9.8	10.1	10.9	17.1	21.1	30.1	10.2	11.5	60.9	20.6
Operating Profit	69.4	103.2	63.8	57.7	40.5	36	37.6	40.4	92.2	59.1
Interest	1	5.9	2.9	5	2.5	7.5	12.1	10.4	3.4	6.2
Exceptional Items		100.8			-5				-26.3
PBDT	68.4	198.1	60.9	52.7	33	28.5	25.5	30	62.5	52.9
Depreciation	9.9	10.3	10.7	10.8	12.9	11.2	11.6	12.4	15.2	12.2
Profit Before Tax	58.5	187.8	50.2	41.9	20.1	17.3	13.9	17.6	47.3	40.7
Tax	10.9	26.1	9.6	12.4	12.5	3	0.3	0.5	-12.3	8
Profit After Tax	47.6	161.7	40.6	29.5	7.6	14.3	13.6	17.1	59.6	32.7
Net Profit	47.6	161.7	40.6	29.5	7.6	14.3	13.6	17.1	59.6	32.7
Equity Capital	78.2	78.2	78.2	78.2	78.2	78.2	78.2	78.2	78.2	78.2
Face Value (IN RS)	10	10	10	10	10	10	10	10	10	10
Calculated EPS	6.09	20.68	5.19	3.77	0.97	1.83	1.74	2.19	7.62	4.18
Diluted Eps After Extraordinary Items	6.09	20.68	5.19	3.77	0.97	1.83	1.74	2.19	7.62	4.18
Diluted Eps Before Extraordinary Items	6.09	20.68	5.19	3.77	0.97	1.83	1.74	2.19	7.62	4.18

Consolidated Standalone

CONSOLIDATED ANNUAL RESULT FOR ASPINWALL AND COMPANY LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	2596.2	2945.2	2956.4
Total Income	2628.6	2991.2	3046.9
Total Expenditure	2410	2733.5	2865.4
Other Income	32.4	46	90.5
Operating Profit	218.6	257.7	181.5
Interest	27.7	15.7	34.1
Exceptional Items	34.2	161.1
PBDT	225.1	403.1	147.4
Depreciation	38.2	46.2	51.9
Profit Before Tax	186.9	356.9	95.5
Tax	34.2	71.4	-11.3
Profit After Tax	152.7	285.5	106.8
Net Profit	152.7	285.5	106.8
Equity Capital	78.2	78.2	78.2
Face Value (IN RS)	10	10	10
Reserves	1460.6	1689.4	1754.4
Calculated EPS	19.53	36.51	13.66
Diluted Eps After Extraordinary Items	19.53	36.51	13.66
Diluted Eps Before Extraordinary Items	19.53	36.51	13.66

STANDALONE ANNUAL RESULT FOR ASPINWALL AND COMPANY LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	2547.3	2888.5	2870.7
Total Income	2586.2	2947.7	2983.4
Total Expenditure	2364.3	2682.5	2777.2
Other Income	38.9	59.2	112.7
Operating Profit	221.9	265.2	206.2
Interest	29.6	16.3	33.4
Exceptional Items	33.1	95.8	-26.3
PBDT	225.4	344.7	146.5
Depreciation	36.9	44.7	50.4
Profit Before Tax	188.5	300	96.1
Tax	31.8	60.6	-8.5
Profit After Tax	156.7	239.4	104.6
Net Profit	156.7	239.4	104.6
Equity Capital	78.2	78.2	78.2
Face Value (IN RS)	10	10	10
Reserves	1435.1	1617.9	1680.9
Calculated EPS	20.04	30.61	13.38
Diluted Eps After Extraordinary Items	20.04	30.61	13.38
Diluted Eps Before Extraordinary Items	20.04	30.61	13.38

Consolidated Standalone

CONSOLIDATED PROFIT / LOSS FOR ASPINWALL AND COMPANY LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	252.75 Cr	259.62 Cr	294.52 Cr	295.64 Cr
Sales	121.89 Cr	128.3 Cr	140.89 Cr	164.76 Cr
Processing Charges / Service Income	127.92 Cr	129.14 Cr	150.6 Cr	125.46 Cr
Net Sales	252.75 Cr	259.62 Cr	294.52 Cr	295.64 Cr
Increase/Decrease in Stock	5.98 Cr	3.42 Cr	4.62 Cr	-2.69 Cr
Raw Material Consumed	77.08 Cr	74.14 Cr	83.61 Cr	127.36 Cr
Opening Raw Materials	28.23 Cr	31.54 Cr	51.21 Cr	40.55 Cr
Purchases Raw Materials	69 Cr	93.53 Cr	59.65 Cr	105.28 Cr
Closing Raw Materials	31.38 Cr	51.21 Cr	40.55 Cr	41.56 Cr
Other Direct Purchases / Brought in cost	11.23 Cr	28 Lk	13.3 Cr	23.09 Cr
Power & Fuel Cost	1.8 Cr	1.78 Cr	1.69 Cr	1.55 Cr
Electricity & Power	1.8 Cr	1.78 Cr	1.69 Cr	1.55 Cr
Employee Cost	37.4 Cr	44.18 Cr	49.46 Cr	47.34 Cr
Salaries, Wages & Bonus	31.95 Cr	37.75 Cr	41.07 Cr	40.17 Cr
Contributions to EPF & Pension Funds	3.81 Cr	4.14 Cr	6.05 Cr	4.76 Cr
Workmen and Staff Welfare Expenses	1.64 Cr	2.29 Cr	2.34 Cr	2.41 Cr
Other Manufacturing Expenses	7.6 Cr	7.54 Cr	6.56 Cr	6.19 Cr
Repairs and Maintenance	1.39 Cr	1.47 Cr	1.34 Cr	1.54 Cr
General and Administration Expenses	8.66 Cr	9.13 Cr	10.74 Cr	11.79 Cr
Rent , Rates & Taxes	2.26 Cr	2.23 Cr	2.08 Cr	2.08 Cr
Insurance	89 Lk	79 Lk	79 Lk	82 Lk
Printing and stationery	29 Lk	28 Lk	28 Lk	28 Lk
Professional and legal fees	1.49 Cr	1.94 Cr	1.88 Cr	2.08 Cr
Traveling and conveyance	85 Lk	1.18 Cr	2.57 Cr	2.6 Cr
Selling and Distribution Expenses	98.23 Cr	98.57 Cr	112.44 Cr	92.51 Cr
Sales Commissions & Incentives	13 Lk	9 Lk	13 Lk	38 Lk
Handling and Clearing Charges	98.1 Cr	98.48 Cr	112.31 Cr	92.13 Cr
Miscellaneous Expenses	4.35 Cr	2.06 Cr	3.94 Cr	2.32 Cr
Loss on disposal of fixed assets(net)	0	0	0	23 Lk
Loss on foreign exchange fluctuations	0	0	2.24 Cr	0
Total Expenditure	241.1 Cr	240.82 Cr	273.06 Cr	286.37 Cr
Other Income	5.17 Cr	3.24 Cr	4.6 Cr	9.35 Cr
Interest Received	53 Lk	22 Lk	1 Cr	3.03 Cr
Profit on sale of Fixed Assets	27 Lk	81 Lk	1.08 Cr	2.04 Cr
Profits on sale of Investments	0	0	10 Lk	4 Lk
Provision Written Back	58 Lk	41 Lk	1.27 Cr	2.87 Cr
Foreign Exchange Gains	2.82 Cr	66 Lk	0	6 Lk
Operating Profit	16.82 Cr	22.04 Cr	26.06 Cr	18.62 Cr
Interest	4.24 Cr	2.95 Cr	1.86 Cr	3.88 Cr
Interest on Term Loan	2.91 Cr	1.85 Cr	64 Lk	2.5 Cr
Bank Charges etc	86 Lk	42 Lk	46 Lk	60 Lk
PBDT	12.58 Cr	19.09 Cr	24.2 Cr	14.74 Cr
Depreciation	3.25 Cr	3.82 Cr	4.62 Cr	5.19 Cr
Profit Before Taxation & Exceptional Items	9.33 Cr	15.27 Cr	19.58 Cr	9.55 Cr
Exceptional Income / Expenses	0	3.42 Cr	16.11 Cr	0
Profit Before Tax	9.33 Cr	18.69 Cr	35.69 Cr	9.55 Cr
Provision for Tax	2.9 Cr	3.42 Cr	7.14 Cr	-1.13 Cr
Current Income Tax	2.25 Cr	4.09 Cr	4.64 Cr	1.36 Cr
Deferred Tax	36 Lk	-61 Lk	2.39 Cr	5 Lk
Profit After Tax	6.43 Cr	15.27 Cr	28.55 Cr	10.68 Cr
Consolidated Net Profit	6.43 Cr	15.27 Cr	28.55 Cr	10.68 Cr
Profit Balance B/F	8.77 Cr	11.75 Cr	12.82 Cr	24.7 Cr
Appropriations	15.2 Cr	27.02 Cr	41.37 Cr	35.38 Cr
General Reserves	4 Cr	11 Cr	11 Cr	6 Cr
Other Appropriation	-55 Lk	3.2 Cr	5.67 Cr	4.18 Cr
Equity Dividend %	35	60	60	60
Earnings Per Share	8.22	19.53	36.51	13.66
Adjusted EPS	8.22	19.53	36.51	13.66

STANDALONE PROFIT / LOSS FOR ASPINWALL AND COMPANY LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Gross Sales	249.71 Cr	254.73 Cr	288.85 Cr	287.07 Cr
Sales	121.89 Cr	128.09 Cr	140.89 Cr	164.7 Cr
Processing Charges / Service Income	124.88 Cr	124.46 Cr	144.9 Cr	116.95 Cr
Net Sales	249.71 Cr	254.73 Cr	288.85 Cr	287.07 Cr
Increase/Decrease in Stock	5.98 Cr	3.42 Cr	4.63 Cr	-2.69 Cr
Raw Material Consumed	77.08 Cr	74.09 Cr	83.58 Cr	127.34 Cr
Opening Raw Materials	28.23 Cr	31.38 Cr	51.08 Cr	40.41 Cr
Purchases Raw Materials	69 Cr	93.51 Cr	59.61 Cr	105.27 Cr
Closing Raw Materials	31.38 Cr	51.08 Cr	40.41 Cr	41.43 Cr
Other Direct Purchases / Brought in cost	11.23 Cr	28 Lk	13.3 Cr	23.09 Cr
Power & Fuel Cost	1.75 Cr	1.72 Cr	1.62 Cr	1.47 Cr
Electricity & Power	1.75 Cr	1.72 Cr	1.62 Cr	1.47 Cr
Employee Cost	36.56 Cr	42.84 Cr	47.9 Cr	45.61 Cr
Salaries, Wages & Bonus	31.22 Cr	36.57 Cr	39.7 Cr	38.66 Cr
Contributions to EPF & Pension Funds	3.73 Cr	4.04 Cr	5.94 Cr	4.63 Cr
Workmen and Staff Welfare Expenses	1.61 Cr	2.23 Cr	2.26 Cr	2.32 Cr
Other Manufacturing Expenses	7.3 Cr	6.88 Cr	5.91 Cr	5.67 Cr
Repairs and Maintenance	1.38 Cr	1.44 Cr	1.3 Cr	1.51 Cr
General and Administration Expenses	8.21 Cr	8.51 Cr	10.13 Cr	11.16 Cr
Rent , Rates & Taxes	1.99 Cr	1.96 Cr	1.83 Cr	1.72 Cr
Insurance	88 Lk	78 Lk	77 Lk	81 Lk
Printing and stationery	28 Lk	27 Lk	27 Lk	27 Lk
Professional and legal fees	1.36 Cr	1.71 Cr	1.7 Cr	1.95 Cr
Traveling and conveyance	84 Lk	1.11 Cr	2.43 Cr	2.49 Cr
Selling and Distribution Expenses	96.89 Cr	96.86 Cr	110.28 Cr	87.11 Cr
Sales Commissions & Incentives	13 Lk	9 Lk	13 Lk	37 Lk
Handling and Clearing Charges	96.76 Cr	96.77 Cr	110.15 Cr	86.74 Cr
Miscellaneous Expenses	4.28 Cr	1.93 Cr	3.92 Cr	1.88 Cr
Loss on foreign exchange fluctuations	0	0	2.31 Cr	0
Total Expenditure	238.05 Cr	236.25 Cr	267.97 Cr	277.55 Cr
Other Income	5.27 Cr	3.89 Cr	5.92 Cr	11.57 Cr
Interest Received	66 Lk	35 Lk	98 Lk	2.81 Cr
Dividend Received	0	40 Lk	1.55 Cr	2.6 Cr
Profit on sale of Fixed Assets	27 Lk	81 Lk	1.08 Cr	2.04 Cr
Profits on sale of Investments	0	19 Lk	0	0
Provision Written Back	57 Lk	30 Lk	1.25 Cr	2.81 Cr
Foreign Exchange Gains	2.83 Cr	71 Lk	0	6 Lk
Operating Profit	16.93 Cr	22.37 Cr	26.8 Cr	21.09 Cr
Interest	4.52 Cr	3.14 Cr	1.91 Cr	3.81 Cr
Interest on Term Loan	3.2 Cr	2.04 Cr	71 Lk	2.55 Cr
Bank Charges etc	86 Lk	42 Lk	45 Lk	60 Lk
PBDT	12.41 Cr	19.23 Cr	24.89 Cr	17.28 Cr
Depreciation	3.22 Cr	3.69 Cr	4.47 Cr	5.04 Cr
Profit Before Taxation & Exceptional Items	9.19 Cr	15.54 Cr	20.42 Cr	12.24 Cr
Exceptional Income / Expenses	0	3.31 Cr	9.58 Cr	-2.63 Cr
Profit Before Tax	9.19 Cr	18.85 Cr	30 Cr	9.61 Cr
Provision for Tax	2.73 Cr	3.18 Cr	6.06 Cr	-85 Lk
Current Income Tax	2.09 Cr	3.83 Cr	3.5 Cr	99 Lk
Deferred Tax	37 Lk	-56 Lk	2.45 Cr	8 Lk
Profit After Tax	6.46 Cr	15.67 Cr	23.94 Cr	10.46 Cr
Consolidated Net Profit	6.46 Cr	15.67 Cr	23.94 Cr	10.46 Cr
Profit Balance B/F	11.53 Cr	14.53 Cr	16.01 Cr	23.29 Cr
Appropriations	17.99 Cr	30.2 Cr	39.95 Cr	33.75 Cr
General Reserves	4 Cr	11 Cr	11 Cr	6 Cr
Other Appropriation	-54 Lk	3.19 Cr	5.66 Cr	4.16 Cr
Equity Dividend %	35	60	60	60
Earnings Per Share	8.26	20.04	30.61	13.38
Adjusted EPS	8.26	20.04	30.61	13.38

Consolidated Standalone

CONSOLIDATED CASH FLOW FOR ASPINWALL AND COMPANY LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	9.33 Cr	15.27 Cr	19.58 Cr	9.55 Cr
Adjustment	6 Cr	6.4 Cr	2.6 Cr	48 Lk
Changes In working Capital	6.4 Cr	-1.55 Cr	16.25 Cr	-5.49 Cr
Cash Flow after changes in Working Capital	21.73 Cr	20.12 Cr	38.43 Cr	4.54 Cr
Cash Flow from Operating Activities	20.45 Cr	16.35 Cr	34.77 Cr	4.45 Cr
Cash Flow from Investing Activities	-1.41 Cr	2.99 Cr	9.35 Cr	-6.95 Cr
Cash Flow from Financing Activitie	-18.32 Cr	-17.03 Cr	-13.18 Cr	-1.28 Cr
Net Cash Inflow / Outflow	72 Lk	2.31 Cr	30.94 Cr	-3.78 Cr
Opening Cash & Cash Equivalents	4.92 Cr	5.64 Cr	7.95 Cr	38.89 Cr
Closing Cash & Cash Equivalent	5.64 Cr	7.95 Cr	38.89 Cr	35.11 Cr

STANDALONE CASH FLOW FOR ASPINWALL AND COMPANY LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	9.19 Cr	15.54 Cr	20.42 Cr	12.24 Cr
Adjustment	6.2 Cr	5.89 Cr	1.23 Cr	-2.32 Cr
Changes In working Capital	7.52 Cr	-2.3 Cr	19.65 Cr	-8.24 Cr
Cash Flow after changes in Working Capital	22.91 Cr	19.13 Cr	41.3 Cr	1.68 Cr
Cash Flow from Operating Activities	21.75 Cr	15.71 Cr	38.87 Cr	1.39 Cr
Cash Flow from Investing Activities	-1.26 Cr	3.97 Cr	4.14 Cr	-6.68 Cr
Cash Flow from Financing Activitie	-19.91 Cr	-16.65 Cr	-15.8 Cr	-1.02 Cr
Net Cash Inflow / Outflow	58 Lk	3.03 Cr	27.21 Cr	-6.31 Cr
Opening Cash & Cash Equivalents	3.92 Cr	4.5 Cr	7.53 Cr	34.74 Cr
Closing Cash & Cash Equivalent	4.5 Cr	7.53 Cr	34.74 Cr	28.43 Cr

Consolidated Standalone

CONSOLIDATED BALANCE SHEET FOR ASPINWALL AND COMPANY LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	7.82 Cr	7.82 Cr	7.82 Cr	7.82 Cr
Equity - Authorised	25 Cr	25 Cr	25 Cr	25 Cr
Equity - Issued	7.82 Cr	7.82 Cr	7.82 Cr	7.82 Cr
Equity Paid Up	7.82 Cr	7.82 Cr	7.82 Cr	7.82 Cr
Face Value	10	10	10	10
Total Reserves	133.99 Cr	146.06 Cr	168.94 Cr	175.44 Cr
Capital Reserves	49 Lk	49 Lk	49 Lk	49 Lk
Profit & Loss Account Balance	11.75 Cr	12.82 Cr	24.7 Cr	25.2 Cr
General Reserves	121.6 Cr	132.6 Cr	143.6 Cr	149.6 Cr
Reserve excluding Revaluation Reserve	133.99 Cr	146.06 Cr	168.94 Cr	175.44 Cr
Shareholder's Funds	141.81 Cr	153.88 Cr	176.76 Cr	183.26 Cr
Secured Loans	2.52 Cr	2.09 Cr	51 Lk	0
Term Loans - Banks	5.42 Cr	2.62 Cr	71 Lk	52 Lk
Unsecured Loans	48 Lk	48 Lk	48 Lk	48 Lk
Loans - Others	48 Lk	48 Lk	48 Lk	48 Lk
Deferred Tax Assets / Liabilities	-3.32 Cr	-3.47 Cr	-1.35 Cr	-1.13 Cr
Deferred Tax Assets	5.72 Cr	6.02 Cr	3.84 Cr	3.07 Cr
Deferred Tax Liability	2.4 Cr	2.55 Cr	2.49 Cr	1.94 Cr
Other Long Term Liabilities	1.22 Cr	2.48 Cr	2.51 Cr	2.5 Cr
Long Term Provisions	3.27 Cr	4.9 Cr	3.22 Cr	2.71 Cr
Total Non-Current Liabilities	4.17 Cr	6.48 Cr	5.37 Cr	4.56 Cr
Trade Payables	12.05 Cr	14.51 Cr	11.85 Cr	9.57 Cr
Sundry Creditors	12.05 Cr	14.51 Cr	11.85 Cr	9.57 Cr
Other Current Liabilities	36.39 Cr	33.98 Cr	29.78 Cr	25.29 Cr
Advances received from customers	6.73 Cr	5.88 Cr	3.99 Cr	2.45 Cr
Interest Accrued But Not Due	4 Lk	2 Lk	1 Lk	0
Short Term Borrowings	26.47 Cr	17.75 Cr	12.8 Cr	19.75 Cr
Secured ST Loans repayable on Demands	26.47 Cr	17.75 Cr	12.8 Cr	19.75 Cr
Working Capital Loans- Sec	26.47 Cr	17.75 Cr	12.8 Cr	0
Short Term Provisions	9.05 Cr	9.67 Cr	7.59 Cr	6.91 Cr
Provision for Tax	3.78 Cr	3.88 Cr	3.98 Cr	3.51 Cr
Total Current Liabilities	83.96 Cr	75.91 Cr	62.02 Cr	61.52 Cr
Total Liabilities	229.94 Cr	236.27 Cr	244.15 Cr	249.34 Cr
Gross Block	76.56 Cr	84.5 Cr	88.14 Cr	95.72 Cr
Less: Accumulated Depreciation	11.06 Cr	13.97 Cr	17.94 Cr	21.58 Cr
Net Block	65.5 Cr	70.53 Cr	70.2 Cr	74.14 Cr
Capital Work in Progress	2.11 Cr	57 Lk	74 Lk	66 Lk
Non Current Investments	11.2 Cr	11.22 Cr	3 Lk	3 Lk
Long Term Investment	11.2 Cr	11.22 Cr	3 Lk	3 Lk
Unquoted	11.25 Cr	11.27 Cr	8 Lk	8 Lk
Long Term Loans & Advances	9 Cr	6.86 Cr	6.87 Cr	7.86 Cr
Other Non Current Assets	1 Cr	77 Lk	3.36 Cr	49 Lk
Total Non-Current Assets	88.81 Cr	89.95 Cr	92.55 Cr	96.57 Cr
Currents Investments	1.44 Cr	2.39 Cr	1.76 Cr	94 Lk
Quoted	1.44 Cr	2.39 Cr	1.76 Cr	0
Unquoted	11.25 Cr	11.27 Cr	8 Lk	8 Lk
Inventories	66.58 Cr	83.58 Cr	67.55 Cr	70.32 Cr
Raw Materials	31.38 Cr	51.22 Cr	40.55 Cr	41.43 Cr
Finished Goods	32.85 Cr	29.45 Cr	24.75 Cr	27.51 Cr
Stores and Spare	2.32 Cr	2.9 Cr	2.16 Cr	1.36 Cr
Sundry Debtors	39.35 Cr	27.49 Cr	23.56 Cr	25.6 Cr
Debtors more than Six months	0	2.65 Cr	2.2 Cr	1.65 Cr
Debtors Others	42.22 Cr	27.5 Cr	23.16 Cr	25.47 Cr
Cash and Bank	6.2 Cr	8.55 Cr	39.4 Cr	35.58 Cr
Cash in hand	5 Lk	5 Lk	4 Lk	4 Lk
Balances at Bank	6.15 Cr	8.5 Cr	39.36 Cr	35.54 Cr
Other Current Assets	21.66 Cr	17.05 Cr	12.77 Cr	6.37 Cr
Interest accrued on Investments	2 Lk	4 Lk	38 Lk	0
Prepaid Expenses	33 Lk	38 Lk	52 Lk	52 Lk
Short Term Loans and Advances	5.9 Cr	7.26 Cr	6.56 Cr	8.58 Cr
Advances recoverable in cash or in kind	2.67 Cr	1.95 Cr	2.47 Cr	1.73 Cr
Advance income tax and TDS	72 Lk	3.23 Cr	2.18 Cr	3.69 Cr
Total Current Assets	141.13 Cr	146.32 Cr	151.6 Cr	147.39 Cr
Net Current Assets (Including Current Investments)	57.17 Cr	70.41 Cr	89.58 Cr	85.87 Cr
Total Assets	229.94 Cr	236.27 Cr	244.15 Cr	249.34 Cr
Contingent Liabilities	9.02 Cr	9.9 Cr	8.59 Cr	8.19 Cr
Total Debt	32.37 Cr	20.85 Cr	13.99 Cr	20.75 Cr
Book Value	0	0	226.04	234.35
Adjusted Book Value	181.34	196.78	226.04	234.35

STANDALONE BALANCE SHEET FOR ASPINWALL AND COMPANY LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Share Capital	7.82 Cr	7.82 Cr	7.82 Cr	7.82 Cr
Equity - Authorised	25 Cr	25 Cr	25 Cr	25 Cr
Equity - Issued	7.82 Cr	7.82 Cr	7.82 Cr	7.82 Cr
Equity Paid Up	7.82 Cr	7.82 Cr	7.82 Cr	7.82 Cr
Face Value	10	10	10	10
Total Reserves	131.03 Cr	143.51 Cr	161.79 Cr	168.09 Cr
Profit & Loss Account Balance	14.53 Cr	16.01 Cr	23.29 Cr	23.59 Cr
General Reserves	116.5 Cr	127.5 Cr	138.5 Cr	144.5 Cr
Reserve excluding Revaluation Reserve	131.03 Cr	143.51 Cr	161.79 Cr	168.09 Cr
Shareholder's Funds	138.85 Cr	151.33 Cr	169.61 Cr	175.91 Cr
Secured Loans	1.62 Cr	1.39 Cr	0	0
Term Loans - Banks	4.42 Cr	1.72 Cr	0	0
Unsecured Loans	0	48 Lk	48 Lk	48 Lk
Loans - Others	0	48 Lk	48 Lk	48 Lk
Deferred Tax Assets / Liabilities	-3.31 Cr	-3.43 Cr	-1.31 Cr	-1.05 Cr
Deferred Tax Assets	5.69 Cr	5.96 Cr	3.78 Cr	2.98 Cr
Deferred Tax Liability	2.38 Cr	2.53 Cr	2.47 Cr	1.93 Cr
Other Long Term Liabilities	1.22 Cr	2.48 Cr	2.51 Cr	2.5 Cr
Long Term Provisions	3.07 Cr	4.62 Cr	2.88 Cr	2.35 Cr
Total Non-Current Liabilities	2.6 Cr	5.54 Cr	4.56 Cr	4.28 Cr
Trade Payables	11.78 Cr	14.05 Cr	11.56 Cr	9.06 Cr
Sundry Creditors	11.78 Cr	14.05 Cr	11.56 Cr	9.06 Cr
Other Current Liabilities	36.01 Cr	32.44 Cr	28.95 Cr	24.17 Cr
Advances received from customers	6.73 Cr	5.88 Cr	3.99 Cr	2.43 Cr
Interest Accrued But Not Due	4 Lk	1 Lk	0	0
Short Term Borrowings	29.22 Cr	20.5 Cr	12.8 Cr	19.75 Cr
Secured ST Loans repayable on Demands	26.47 Cr	17.75 Cr	12.8 Cr	19.75 Cr
Working Capital Loans- Sec	26.47 Cr	17.75 Cr	0	0
Short Term Provisions	9.03 Cr	9.62 Cr	7.56 Cr	6.87 Cr
Provision for Tax	3.78 Cr	3.88 Cr	3.98 Cr	3.5 Cr
Total Current Liabilities	86.04 Cr	76.61 Cr	60.87 Cr	59.85 Cr
Total Liabilities	227.49 Cr	233.48 Cr	235.04 Cr	240.04 Cr
Gross Block	75.23 Cr	83.08 Cr	86.65 Cr	95 Cr
Less: Accumulated Depreciation	10.94 Cr	13.74 Cr	17.51 Cr	21.06 Cr
Net Block	64.29 Cr	69.34 Cr	69.14 Cr	73.94 Cr
Capital Work in Progress	2.11 Cr	57 Lk	74 Lk	66 Lk
Non Current Investments	12.73 Cr	12.89 Cr	1.2 Cr	2.2 Cr
Long Term Investment	12.73 Cr	12.89 Cr	1.2 Cr	2.2 Cr
Unquoted	13.78 Cr	13.94 Cr	2.25 Cr	2.75 Cr
Long Term Loans & Advances	9.22 Cr	7.78 Cr	8.45 Cr	7.17 Cr
Other Non Current Assets	99 Lk	76 Lk	54 Lk	49 Lk
Total Non-Current Assets	89.34 Cr	91.34 Cr	91.42 Cr	97.85 Cr
Unquoted	13.78 Cr	13.94 Cr	2.25 Cr	2.75 Cr
Inventories	66.26 Cr	83.06 Cr	67.08 Cr	70.03 Cr
Raw Materials	31.38 Cr	51.08 Cr	40.41 Cr	41.43 Cr
Finished Goods	32.85 Cr	29.45 Cr	24.74 Cr	27.5 Cr
Stores and Spare	2 Cr	2.52 Cr	1.84 Cr	1.08 Cr
Sundry Debtors	38.66 Cr	27.04 Cr	22.6 Cr	23.96 Cr
Debtors more than Six months	0	2.59 Cr	2.16 Cr	1.6 Cr
Debtors Others	41.5 Cr	27.07 Cr	22.21 Cr	23.85 Cr
Cash and Bank	5.06 Cr	8.13 Cr	35.25 Cr	28.9 Cr
Cash in hand	5 Lk	5 Lk	4 Lk	3 Lk
Balances at Bank	5.01 Cr	8.08 Cr	35.21 Cr	28.87 Cr
Other Current Assets	21.6 Cr	16.58 Cr	12.18 Cr	6.29 Cr
Interest accrued on Investments	2 Lk	4 Lk	32 Lk	0
Interest accrued and or due on loans	37 Lk	0	13 Lk	0
Prepaid Expenses	33 Lk	38 Lk	52 Lk	52 Lk
Short Term Loans and Advances	6.57 Cr	7.33 Cr	6.51 Cr	8.11 Cr
Advances recoverable in cash or in kind	2.62 Cr	1.91 Cr	2.45 Cr	1.69 Cr
Advance income tax and TDS	72 Lk	3.23 Cr	2.18 Cr	3.69 Cr
Total Current Assets	138.15 Cr	142.14 Cr	143.62 Cr	137.29 Cr
Net Current Assets (Including Current Investments)	52.11 Cr	65.53 Cr	82.75 Cr	77.44 Cr
Total Assets	227.49 Cr	233.48 Cr	235.04 Cr	240.04 Cr
Contingent Liabilities	8.37 Cr	9.25 Cr	7.94 Cr	7.54 Cr
Total Debt	33.64 Cr	22.7 Cr	13.28 Cr	20.23 Cr
Book Value	177.56	0	216.89	224.95
Adjusted Book Value	177.56	193.52	216.89	224.95

Consolidated Standalone

FINANCIAL RATIOS (CONSOLIDATED) FOR ASPINWALL AND COMPANY LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	8.22	19.53	36.51	13.66
CEPS(Rs)	12.38	24.41	42.42	20.29
DPS(Rs)	3.5	6	6	6
Book NAV/Share(Rs)	181.34	196.78	226.04	234.35
Tax Rate(%)	31.08	18.3	20.01	-11.83
Margin Ratios
Core EBITDA Margin(%)	4.61	7.24	7.29	3.14
EBIT Margin(%)	5.37	8.34	12.75	4.54
Pre Tax Margin(%)	3.69	7.2	12.12	3.23
PAT Margin (%)	2.54	5.88	9.69	3.61
Cash Profit Margin (%)	3.83	7.35	11.26	5.37
Performance Ratios
ROA(%)	2.78	6.55	11.89	4.33
ROE(%)	4.65	10.33	17.27	5.93
ROCE(%)	7.63	12.4	20.55	6.8
Asset Turnover(x)	1.09	1.11	1.23	1.2
Sales/Fixed Asset(x)	3.29	3.22	3.41	3.22
Working Capital/Sales(x)	4.42	3.69	3.29	3.44
Efficiency Ratios
Fixed Capital/Sales(x)	0.3	0.31	0.29	0.31
Receivable days	58.55	47.02	31.63	30.35
Inventory Days	97.79	105.56	93.65	85.11
Payable days	57.61	69.27	54.52	31.36
Valuation Parameters
PER(x)	23.2	8.8	5.17	18.42
PCE(x)	15.41	7.04	4.45	12.4
Price/Book(x)	1.05	0.87	0.84	1.07
Yield(%)	1.83	3.49	3.18	2.38
EV/Net Sales(x)	0.69	0.56	0.42	0.62
EV/Core EBITDA(x)	10.43	6.65	4.69	9.77
EV/EBIT(x)	12.92	6.77	3.26	13.55
EV/CE(x)	0.76	0.62	0.5	0.89
M Cap / Sales	0.59	0.52	0.5	0.67
Growth Ratio
Net Sales Growth(%)	-1.37	2.72	13.44	0.38
Core EBITDA Growth(%)	108.94	31.03	18.24	-28.55
EBIT Growth(%)	187.5	59.47	73.52	-64.23
PAT Growth(%)	1630.95	137.48	86.97	-62.59
EPS Growth(%)	1630.91	137.48	86.97	-62.59
Financial Stability Ratios
Total Debt/Equity(x)	0.23	0.14	0.08	0.11
Current Ratio(x)	1.68	1.93	2.44	2.4
Quick Ratio(x)	0.89	0.83	1.36	1.25
Interest Cover(x)	3.2	7.34	20.19	3.46
Total Debt/Mcap(x)	0.22	0.16	0.09	0.11

FINANCIAL RATIOS (STANDALONE) FOR ASPINWALL AND COMPANY LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	8.26	20.04	30.61	13.38
CEPS(Rs)	12.38	24.76	36.33	19.82
DPS(Rs)	3.5	6	6	6
Book NAV/Share(Rs)	177.56	193.52	216.89	224.95
Tax Rate(%)	29.71	16.87	20.2	-8.85
Margin Ratios
Core EBITDA Margin(%)	4.67	7.25	7.23	3.32
EBIT Margin(%)	5.49	8.63	11.05	4.67
Pre Tax Margin(%)	3.68	7.4	10.39	3.35
PAT Margin (%)	2.59	6.15	8.29	3.64
Cash Profit Margin (%)	3.88	7.6	9.84	5.4
Performance Ratios
ROA(%)	2.82	6.8	10.22	4.4
ROE(%)	4.77	10.8	14.92	6.05
ROCE(%)	7.77	12.69	17.88	7.08
Asset Turnover(x)	1.09	1.11	1.23	1.21
Sales/Fixed Asset(x)	3.29	3.21	3.4	3.16
Working Capital/Sales(x)	4.79	3.89	3.49	3.71
Efficiency Ratios
Fixed Capital/Sales(x)	0.3	0.31	0.29	0.32
Receivable days	58.64	47.11	31.36	29.6
Inventory Days	98.62	106.98	94.86	87.17
Payable days	56.16	67.6	52.99	30.19
Valuation Parameters
PER(x)	23.1	8.57	6.17	18.81
PCE(x)	15.41	6.94	5.2	12.69
Price/Book(x)	1.07	0.89	0.87	1.12
Yield(%)	1.83	3.49	3.18	2.38
EV/Net Sales(x)	0.71	0.58	0.44	0.66
EV/Core EBITDA(x)	10.5	6.66	4.69	8.92
EV/EBIT(x)	12.97	6.77	3.94	14.02
EV/CE(x)	0.78	0.64	0.53	0.96
M Cap / Sales	0.6	0.53	0.51	0.69
Growth Ratio
Net Sales Growth(%)	-1.41	2.01	13.39	-0.62
Core EBITDA Growth(%)	82.83	32.13	19.8	-21.31
EBIT Growth(%)	130.03	60.39	45.11	-57.94
PAT Growth(%)	1096.3	142.57	52.78	-56.31
EPS Growth(%)	1096.36	142.57	52.78	-56.31
Financial Stability Ratios
Total Debt/Equity(x)	0.24	0.15	0.08	0.12
Current Ratio(x)	1.61	1.86	2.36	2.29
Quick Ratio(x)	0.84	0.77	1.26	1.12
Interest Cover(x)	3.03	7	16.71	3.52
Total Debt/Mcap(x)	0.23	0.17	0.09	0.1

SHARE HOLDING PATTERN FOR ASPINWALL AND COMPANY LIMITED

Date	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters %	64.46	64.46	64.46	64.46	64.46	64.46	64.46	64.46	64.46	64.46
FII %	0.00	0.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.12
DII %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public %	35.54	35.41	35.54	35.55	35.54	35.54	35.54	35.54	35.54	35.42

PEER COMPARISON FOR ASPINWALL AND COMPANY LIMITED

No.	Name
1	Century Textiles & Industries Limited
2	Grasim Industries Limited
3	Oswal Agro Mills Limited
4	Birla Corporation Limited
5	Surya Roshni Limited
6	Prism Johnson Limited
7	Kesoram Industries Limited
8	SRF Limited
9	Texmaco Infrastructure & Holdings Limited
10	KESAR ENTERPRISES LTD
11	UNIWORTH INTERNATIONAL LTD
12	Balmer Lawrie & Company Limited
13	DCM Shriram Limited
14	3M India Limited
15	SARTHAK INDUSTRIES LTD
16	Gillanders Arbuthnot & Company Limited
17	The Andhra Sugars Limited
18	Aspinwall and Company Limited
19	Niraj Ispat Industries Limited

CORPORATE ACTIONS FOR ASPINWALL AND

Exchange Date	Purpose	Book Closure Dates
NSE 18-Jul-2024	AGM/DIV - RS 6 PER SH	19-Jul-2024 25-Jul-2024
NSE 20-Jul-2023	AGM/DIV - RS 6 PER SH	21-Jul-2023 27-Jul-2023
NSE 02-Aug-2022	AGM/DIV - RS 6 PER SH	04-Aug-2022 10-Aug-2022