Cheviot Company Limited Buyback 2024

1. Industry and Product: Cheviot Company Limited operates in the textile industry, specializing in the production of jute goods. They manufacture a range of jute products, including hessian cloth, jute bags, and other jute-based packaging material.

2. Legacy and History: The company has a long-standing presence in the Indian jute industry, with a rich history dating back several decades. Cheviot is known for its quality products and has built a strong reputation over the years.

3. Manufacturing facilities: Cheviot boasts state-of-the-art manufacturing facilities that are equipped with modern machinery and technology. These facilities enable the company to maintain high standards of production and meet the demands of both domestic and international markets.

4. Market presence: The company has a significant market presence, supplying jute products to various sectors, including agriculture, packaging, and construction. Cheviot exports a substantial portion of its products, contributing to its global footprints.

5. Financial Performance: Company has demonstrated robust financial performance with consistent revenue growth and profitability. The company’s prudent financial management and strategic investments have ensured its stability and growth, making it a reliable player in the industry.

Buy Back Offer Deal:

Buyback Type: Tender Offer
Buyback Record Date: Jun 14 2024
Buyback Opening Date: Jun 21 2024
Buyback Closing Date: Jun 27 2024
Buyback Offer Amount: ₹ 31.5 Cr
Date of Board Meeting approving the proposal: May 24 2024
Date of Public Announcement: May 24 2024
Buyback Offer Size: 2.91%
Buyback Number of Shares: 1,75,000
FV: 10
Buyback Price: ₹ 1800 Per Equity Share

Details of Buyback:

The proposal to buyback not exceeding 1,75,000 (One Lakh Seventy-Five Thousand) equity shares of the Company (representing 2.91% of the total number of equity shares in the paid-up share capital of the Company) at a price of Rs. 1,800/- (Rupees One Thousand Eight Hundred) per equity share payable in cash for an aggregate consideration not exceeding Rs. 31,50,00,000/- (Rupees Thirty One Crores Fifty Lakhs Only).

Salient financial parameters:

Particulars (In Cr) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Sales + 395 458 396 571 564
Expenses + 340 401 343 487 498
Operating Profit 55 57 52 84 66
OPM % 14% 12% 13% 15% 12%
Other Income + 22 9 46 22 11
Interest 1 0 0 0 0
Depreciation 4 4 4 4 4
Profit before tax 72 62 93 102 71
Tax % 30% 22% 19% 22% 24%
Net Profit + 50 48 76 79 54
EPS in Rs 77.6 74.41 120.83 131.88 90.51
Dividend Payout % 1% 65% 145% 46% 30%

How to Participate in buyback?

1. Firstly, to be eligible for the buyback the investor should have shares of  eClerx Services Limited in Demat or physical form as on the record date [14-06-2024].
2. Once you have shares in Demat, you can participate in the buyback process which is opening from [To be updated] by selling your shares through your broker on NSE or BSE.
3. Then on [To be updated], the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.

Profit from the buyback on the bases of acceptance Ratio:

Buy 111 Shares at CPM of Rs. 1462 (2,00,000/1800)
Acceptance Ratio 33% 50% 75% 100%
Amount Invested in Buyback 162282 162282 162282 162282
No. of Shares Buyback 36 55 83 111
Buyback Profit 12168 18590 28054 37518
Profit% 7.50% 11.46% 17.29% 23.12%

19 Comments

    Acceptance ratio declared .not very much clear but seems er and ar are same

    Reply

      Cheviot buyback acceptance ratio is too dismissal @5.55%. out of 126 shares only 7 is accepted. Overall it might not prove to be good trade . I just too a chance and failed

      Reply

      I was surprised to see none of the accounts 1 share accepted ( total 10 accounts ). Is it the case ?

      Reply

    Sorry to all reader ,
    I mentioned Arvind ,but actually it was Ajanta Pharma.

    Reply

    Buyback for Arvind has started on 05.06.24.
    This is not reflecting in Buyback sumry.

    Reply

    Has anyone got any idea about Balmer Lawrie and Co. Board meeting outcome on Buyback/Bonus/Dividend?

    Reply

      Board has decided not to go with buyback plan , further board also has decided not to issue bonus shares or splitting up of their shates !! Recommend dividend of rs 8.50 per share !!

      Reply

        Thank you Parikh ji for your response. Had bought some shares in anticipation of atleast one of those corporate actions.Got badly mauled and seriously injured.

        Reply

    Last time AR was around 48 percent.Price was ₹1725/, amount 43.1crore and size was 3.99 percent.

    Reply

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