Garden Silk Mills Pvt Ltd
About
Garden Silk Mills Private Limited is one of India’s largest polyester manufacturers. The company functions across three product verticals - chips, yarn and fabric - through 2 business models- B2B and B2C. The former specialises in supplying polyester filament yarns and chips to industries while the latter produces sarees, greige fabrics and other dress materials under the brand - 'Garden Vareli'. Garden Silk Mills operates manufacturing units in Vareli and Jolwa in Gujarat and is building its international presence. The company currently exports to Egypt, Mexico, Kenya, Turkey and Bangladesh. In 2021, Garden Silk Mills became a wholly-owned subsidiary of MCPI Private Limited, thus bringing the company under the purview of The Chatterjee Group.
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Financial Data 2024
Financial Data
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (INR Cr) | 2952 -14.2% | 3441 -3.3% | 3557 62.8% | 2185 -22.4% | 2816 -19.5% | 3500 13.0% | 3096 22.1% | 2535 7.0% | 2369 -10.7% | 2651 -11.2% | 2987 -19.6% | 3713 6.5% | 3487 -0.5% | 3505 35.1% | 2595 91.5% | 1355 -22.2% | 1741 - |
| Net Operating Income (INR Cr) | 2837 -17.78% | 3450 -0.38% | 3463 56.56% | 2212 -22.79% | 2865 -17.87% | 3489 15.00% | 3042 24.37% | 2445 2.48% | 2386 -9.64% | 2641 0.00% | 3067 -17.06% | 3697 5.44% | 3507 3.12% | 3400 35.21% | 2515 88.86% | 1332 -20.56% | 1676 20.16% |
| Profit (INR Cr) | -116 - | -198 - | 63 -47.4% | 119 - | -208 - | -90 - | -84 - | -93 - | -139 - | -143 - | -144 - | -101 - | -79 - | 88 39.0% | 63 27.5% | 50 24.0% | 40 - |
| Assets (INR Cr) | 2874 23.6% | 2326 -0.1% | 2329 3.5% | 2251 58.7% | 1418 195.8% | 480 -45.7% | 883 -25.2% | 1179 -24.2% | 1556 -4.1% | 1623 -0.3% | 1627 -6.9% | 1746 -4.3% | 1825 -2.8% | 1877 23.6% | 1518 13.4% | 1339 12.1% | 1194 - |
| Net Worth (INR Cr) | 1446 -6.2% | 1541 -11.7% | 1745 16.8% | 1493 -389.2% | -516 70.4% | -303 43.7% | -214 -63.6% | -131 -425.4% | -25 -121.8% | 114 0.0% | 259 -36.1% | 405 -17.7% | 491 -13.8% | 570 16.3% | 490 12.7% | 435 10.9% | 392 9.3% |
| Employee Cost (INR Cr) | 124 -6.9% | 134 9.4% | 122 16.9% | 105 -11.8% | 119 -0.2% | 119 -9.1% | 131 6.9% | 122 4.4% | 117 5.5% | 111 29.0% | 86 -1.2% | 87 3.0% | 84 15.7% | 73 50.0% | 49 27.9% | 38 -7.7% | 41 - |
| Interest Cost (INR Cr) | 52 | 39 | 60 | 59 | 202 | 204 | 191 | 186 | 188 | 183 | 158 | 156 | 154 | 100 | 87 | 55 | 64 |
| Cash & Bank Balance (INR Cr) | 189 | 449 | 735 | 514 | 201 | 64 | 103 | 85 | 48 | 55 | 32 | 31 | 36 | 21 | 35 | 73 | 76 |
| Total Debt (INR Cr) | 1242 | 781 | 580 | 748 | 1927 | 778 | 1091 | 1304 | 1568 | 1494 | 1354 | 1329 | 1322 | 1298 | 1028 | 904 | 802 |
Key Financial Ratios
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit As % Of Revenues | - | - | 1.8% | 5.4% | - | - | - | - | - | - | - | - | - | 2.5% | 2.4% | 3.7% | 2.3% |
| Profit As % Of Assets | - | - | 2.7% | 5.3% | - | - | - | - | - | - | - | - | - | 4.7% | 4.2% | 3.7% | 3.4% |
| Profit As % Of Networth | - | - | 3.6% | 8.0% | - | - | - | - | - | - | - | - | - | 15.4% | 12.9% | 11.4% | 10.2% |
| Interest Cost to EBITDA % | - | - | 36.8% | 26.1% | 346.7% | 121.6% | 113.7% | 122.1% | 179.0% | 168.5% | 304.0% | 183.0% | 152.7% | 35.5% | 37.5% | 35.9% | 37.4% |
| Debt to Equity Ratio | 0.86 | 0.51 | 0.33 | 0.50 | - | - | - | - | - | 13.07 | 5.23 | 3.29 | 2.69 | 2.28 | 2.10 | 2.08 | 2.04 |
| RONW | - | - | 3.8% | 23.9% | - | - | - | - | - | - | - | - | - | 16.6% | 13.7% | 16.0% | 10.7% |
| ROCE | 0.0% | 0.0% | 5.3% | 9.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% | 1.2% | 13.0% | 12.6% | 13.2% | 11.8% |