Faze Three Limited Buyback 2023
Faze Three Limited established in 1985 is today a well known Home Textile Manufacturer and Automotive fabric manufacturer in India. In the last 38 years it has built clientele of over 50 major retailers globally spread over 15 countries. They are also India’s leading car seat cover manufacturing suppliers. The company draws its strength from constantly bringing innovate textile and designs to its portfolio of products which include Bathmats, Accent & Area rugs, Pillows, Blankets, Bedspreads, Curtains, Kitchen textiles and lately masks from its 8 product centric textile Manufacturing plants.
The company boasts a vast network of seven manufacturing facilities strategically positioned across various locations. With a dedicated workforce of 3,000 employees, they have established themselves as leaders in serving prominent clients within key geographical areas. Their global presence enables them to supply products to over 50 renowned retailers worldwide. Furthermore, the company ensures exceptional customer service in the UK and Europe through their team of full-time employees stationed in these regions.
Buy Back Offer Deal:
| Date of Board Meeting approving the proposal: | May 29 2023 |
| Date of Public Announcement: | May 29 2023 |
Details of Buyback:
Salient financial parameters:
| Particulars (in crore) | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| Sales + | 266 | 302 | 324 | 505 | 548 |
| Expenses + | 236 | 267 | 276 | 423 | 455 |
| Operating Profit | 30 | 35 | 48 | 82 | 93 |
| OPM % | 11% | 12% | 15% | 16% | 17% |
| Other Income + | 2 | 4 | 2 | 7 | 6 |
| Interest | 7 | 9 | 6 | 8 | 7 |
| Depreciation | 5 | 8 | 9 | 10 | 14 |
| Profit before tax | 19 | 22 | 35 | 71 | 77 |
| Tax % | 15% | 14% | 29% | 28% | 25% |
| Net Profit | 16 | 19 | 25 | 51 | 57 |
| EPS in Rs | 6.7 | 7.92 | 10.28 | 21 | 23.62 |
| Dividend Payout % | 0% | 6% | 0% | 0% | 0% |
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
Recommendation:
13 Comments
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Not surprised even a bit. The Board of —-may have learnt from Balmer Lawrie and co. Good learning 😀😀. Nice lesson 😜 I am enjoying
Faze Three Buyback cancel by board.
Umesh ji,
Thank you very much for your kind information.
Shivramkrishna koi acha upcoming buyback h kya
Thanks for the update, don’t know what is happening, either cancelled or trying to buy below current market price, this has happened with 3-4 companies in last 1-2 weeks
Total cash on books is ~104 Cr as on 31.03.2023. Let us see what size of Buyback it will come up with
Thanks for information
Fy23 their performance is decent.
1. Revenue has increased from 500 Cr to 548 Cr.
2. OPM at 17% vs 16%
3. PAT has increased from 51 Cr to 57 Cr.
4. Free Cash generated = 109-52 = 56 Cr
5. P/E = 15x.. Industry Median is 10x.
hru. how isaxita cotton buyback
Ashish Kacholia has invested in this company in Sept-2021, invested ~13 Crores at Rs.289 per share
The quarterly results is added to the Salient Financial Statements published above. Do you think it is fake/ false 💭💭
It delivered very poor result. So please be careful.
Thank you Atul ji for the prompt warning. I was getting tempted. Will wait and watch 🙏