Vadilal Industries Ltd.

Financial

	Vadilal Industries	Parag Milk Foods	Heritage Foods
Operational Metrics
Unclassified
Advertisement Spend as a % of Total Sales	0.64 %	4.17 %	n/a
Financials
5 yr Average ROE	16.96 %	-13.42 %	16.08 %
5yr average Equity Multiplier	2.1	2.06	1.52
5yr Average Asset Turnover Ratio	1.09	1.49	2.86
5yr Avg Net Profit Margin	7.28 %	-3.2 %	3.76 %
Price to Book	5.11	2.76	4.51
P/E	25.42	23.7	25.71
5yr Avg Cash Conversion Cycle	45.19 Days	57.6 Days	9.5 Days
Inventory Days	85.51 Days	88.39 Days	27.67 Days
Days Receivable	27.72 Days	22.77 Days	2.84 Days
Days Payable	90.05 Days	49.7 Days	12.21 Days
5yr Average Interest Coverage Ratio	5.96	0.2	16.55
5yr Avg ROCE	20.53 %	-1.4 %	21.53 %
5yr Avg Operating Profit Margin	13.88 %	0.9 %	7.15 %
5 yr average Debt to Equity	0.52	0.64	0.12
5yr CAGR Net Profit	28.67 %	-0.67 %	4.66 %
5yr Average Return on Assets	8.52 %	-4.67 %	10.66 %
Shareholdings
Promoter Holding	64.73 %	42.61 %	41.3 %
Share Pledged by Promoters	7.57 %	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.0	1.86 %	1.87 %
Change in Mutual Fund Holding (3 Yrs)	-0.01 %	0.0	-10.65 %

Business

	Vadilal Industries	Parag Milk Foods	Heritage Foods
Product Wise Break-Up	Product Wise Break-Up Ice Cream 90.0 Fruit Pulp, Frozen Fruits Etc. 10.0 Dietary Supplement 0 Milk Products 0 Liquid Milk 0 Skimmed Milk Powder 0 Animal Feed 0 Renewable Energy 0 Dairy 0	Product Wise Break-Up Dietary Supplement 9.0 Liquid Milk 10.0 Fruit Pulp, Frozen Fruits Etc. 0 Skimmed Milk Powder 14.0 Dairy 0 Milk Products 57.0 Ice Cream 0 Animal Feed 0 Renewable Energy 0 Others 10.0	Product Wise Break-Up Dietary Supplement 0 Liquid Milk 0 Fruit Pulp, Frozen Fruits Etc. 0 Skimmed Milk Powder 0 Dairy 95.22 Milk Products 0 Ice Cream 0 Animal Feed 4.53 Renewable Energy 0.25
Location Wise Break-Up	Location Wise Break-Up India 81.26 Rest of the World 18.74	Location Wise Break-Up Rest of the World 1.17 India 98.83	Location Wise Break-Up Rest of the World 0.05 India 99.95