Joined: 29/Dec/2007
Location: India
Online Status: Offline
Posts: 1283
Posted: 16/Aug/2010 at 3:16pm
There are three closely related parameters which are all related to the dividend
Dividend Yield Last 4 Years CAGR dividend per share growth Dividend Payout Ratio
I think it would be better to focus on just the div payout ratio and dividend yield , note that as the company passes through various stages the payout varies and in effect so does the dividend CAGR.
We could also possibly give some weightages to RoCE , Cash flow
Joined: 29/Mar/2007
Location: India
Online Status: Offline
Posts: 4243
Posted: 16/Aug/2010 at 4:00pm
i would request smartcat to add another column titled management quality and integrity
Are you sure you want me to do that? I will probably assign top marks to Ambanis, Adanis, Biyanis, Chaturvedis & Gaurs.
I added the sustainable growth filter:ROE(1- payout) to the above and assigned a weight-age of 2 to this filter
Are you good at MS Excel? If you could create some kind of Excel sheet template where one could add a parameter (like RoCE) and assign a weightage (2x), that would be useful!
We could also possibly give some weightages to RoCE , Cash flow
RoCE data is available from Rediff Money. Cash flow is a number (like Rs. 30 cr) and so cannot be used directly. Price to Cash flow can be used - but you need to calculate it yourself. Not many financial websites publish this.
Have you applied these screens to your own holdings? Am curious of the results.
Yes. And the idea was to think of a better way to remove stocks from my portfolio (and not just remove stocks with high P/E) as it appreciates in value.
Company Name
P/E Ratio
P/BV Ratio
Market Cap
Dividend Yield
Sales CAGR
Profit CAGR
DPSCAGR
RoE
D/E Ratio
Dividend Payout Ratio
ADF Foods
11.82
1.39
151.3
2.01
12.98
55.11
10.67
14.6
0.01
22.45
Ador Fontech
7.23
2.41
92.19
3.99
12
29.85
31.61
33.32
0
38.42
Ajanta Pharma
8.22
1.4
256.12
1.72
15.78
29.36
23.59
16.22
1.16
16.74
Anuh Pharma
11.61
2.76
149.77
2.02
20.81
17.21
23.15
19.71
0.01
42.97
Asian Paints
31.95
14.21
24,990.46
1.02
21.93
42.63
21.23
49.73
0.04
39.03
Atul
6.05
0.82
320.79
2.52
7.8
13.79
10.67
10.28
1.06
29.26
Balmer Lawrie & Co.
9.02
2.26
1,057.62
2.79
7.07
23.78
38.09
26.16
0
37.5
Berger Paints India
20.88
4.06
2,688.98
1.24
14.36
14.42
-2.15
19.18
0.03
36.95
Blue Star
19.94
7.49
3,962.14
1.78
21.92
44.80
35.12
43.01
0.01
39.67
Canara Bank
5.64
1.45
19,616.45
1.99
21.23
22.47
10.95
24.09
18.71
15.88
Castrol India
25.82
19.45
11,462.69
5.39
8.69
27.99
31.94
76.98
0
94.9
Clariant Chemicals
12.25
4.16
1,734.01
3.68
11.1
37.10
11.57
31.09
0.01
72.11
Colgate-Palmolive (I)
25.85
25.53
11,439.04
2.35
16
32.56
27.79
129.78
0.01
75.08
Corporation Bank
6.59
1.34
8,192.58
2.74
29.1
27.41
23.91
20.26
16.06
23.66
Cosmo Films
5.4
0.82
247.57
3.93
15.91
18.37
9.33
16.61
1.03
26.6
Cummins India
28.36
7.32
12,586.86
1.79
18.67
26.14
31.61
28.43
0.01
62.52
Deepak Fertilisers & Petro.
7.97
1.31
1,289.56
3.01
20.42
21.47
10.67
18.49
0.78
25.91
Dhanuka Agritech
10.94
4.16
440.54
1.59
64.93
71.31
15.02
37.41
0.59
20.61
eClerx Services
14.17
5.45
1,274.70
2.38
48.85
29.40
64.14
36.72
0
45.66
Elgi Equipments
11.76
2.89
739.2
1.01
14.22
34.12
6.78
20.33
0
24
FDC
10.98
2.67
1,594.54
2.13
14.9
20.58
21.61
28.38
0
25.54
Federal Bank
12.91
1.23
5,939.39
1.51
26.46
19.84
18.92
11.58
7.45
19.99
First Leasing
4.68
0.54
136.06
2.32
15.25
5.93
-5.43
15.85
4.57
14.3
G I C Housing Fin.
8.84
1.51
614.71
3.04
19.21
19.37
31.61
17.33
6.79
42.11
Garden Silk Mills
4.87
0.62
306.71
1.81
23.13
32.69
4.66
12.89
2.1
12.71
Gillanders Arbuthnot & Co.
9.21
1.43
239.29
3.07
27.43
55.46
25.74
11.07
1.24
50.9
Glaxo Consumer Healthcare
30.39
6.94
7,447.19
1.00
16.18
21.35
22.47
25.71
0
38.04
Godrej Consumer Products
31.06
7.44
11,136.35
1.18
17.84
19.90
20.74
29.98
0.01
59.34
Graphite India
7.92
1.36
1,753.03
3.57
14.9
37.45
30.68
19.61
0.21
30.15
Gruh Finance
19.28
4.14
1,162.89
1.72
38.79
43.58
26.98
26.05
8.78
38.16
Hawkins Cookers
13.57
10.92
513.13
3.71
18.61
73.21
68.18
94.68
0.31
66.95
HSIL
12.98
2.12
671.59
1.23
16.29
20.09
9.82
16.02
1.84
25.65
I K F Finance
6.64
0.82
18.53
6.27
13.98
11.12
-9.64
16.15
3.49
32.61
IL&FS Investment Managers
24.7
11.44
927.84
3.23
39.16
53.64
54.12
53.37
0
90.39
Indian Bank
6.06
1.37
9,641.89
2.05
23.62
32.51
46.79
22.79
13.33
21.99
J B M Auto
8.16
1.02
67.21
0
20.88
5.15
-100
22.29
2.39
0
J&K Bank
6.92
1.18
3,735.46
2.52
15.69
30.60
28.79
17.01
12.37
24.35
Jenburkt Pharma.
8.3
3.35
39.01
3.76
18.34
50.34
24.47
35.97
0.47
43.9
Jupiter Biosciences
9.98
0.63
267.38
1.94
23.76
10.64
-5.43
10.72
1.22
11.39
Jyothy Laboratories
28.14
4.81
2,054.79
1.42
16.23
16.19
100
20.06
0
42.28
Kabra Extrusiontechnik
13.05
3.12
286.64
1.91
18.17
35.01
15.02
24.54
0.09
30.43
Karur Vysya Bank
9.35
1.92
3,274.50
1.96
28.22
25.60
31.61
20.74
11.9
22.74
KCP
6.99
1.28
377.22
3.31
18
37.06
18.92
20.81
0.78
25.63
KNR Constructions
9.42
1.54
474.16
1.15
39.29
35.72
50
17.25
0.51
14.88
Lincoln Pharmaceuticals
5.2
0.85
41
3.41
22.23
22.21
0
12.15
0.4
24.79
M&M Financial Services
15.13
3.05
5,493.29
1.24
27.33
33.40
20.99
19.82
3.74
24.81
Manjushree Technopack
6.22
0.94
65.77
1.51
32.4
54.99
0
12.78
0.49
21.15
Natural Capsules
4.91
0.91
20.98
2.73
16.77
15.49
4.66
20.42
0.32
15.9
Nava Bharat Ventures
7.43
1.79
3,050.00
2.41
26.12
71.18
45.65
31.24
0.24
15.02
Navin Flourine Int.
4.09
0.94
287.95
5.08
17.29
74.98
46.98
25.55
0.03
22.22
Navneet Publications
16.15
3.48
1,200.60
4.84
15.49
16.43
14.74
22.58
0.24
49.16
Opto Circuits (India)
33.66
5.71
4,998.79
1.47
41.95
42.91
52.1
34.83
1.28
53.54
Page Industries
28.94
12.3
1,249.57
1.61
35.92
31.89
68.75
39.99
0.55
69.18
Patels Airtemp (India)
5.37
1.44
47.66
1.93
21.54
58.37
34.16
31.67
0.28
14.9
Pennar Industries
9.82
2.74
549.11
2.19
15.49
37.47
25
25.25
0.89
38.85
Pidilite Industries
22.16
6.59
6,893.55
1.08
16.89
35.08
24.47
30.83
0.44
30.62
Raj Packaging Inds.
9.18
1.23
7.62
2.13
6.09
14.47
18.92
13.91
0.41
58.86
Roto Pumps
8.27
1.72
34.34
2.02
20.74
45.74
18.92
20.04
0.73
21.88
Sahyadri Industries
6.68
2.1
179.23
1.16
22.88
89.18
41.42
33.91
1.3
11.36
Sonata Software
8.53
1.69
517.91
3.63
8.91
19.68
14.19
20.6
0
34.68
South Indian Bank
9.47
1.42
2,166.33
1.95
26.28
46.93
22.09
15.93
15.69
22.54
Sree Sakthi Paper Mills
7.27
0.93
36.98
6.31
22.74
27.42
10.64
9.6
0.93
86.93
SRF
5.3
1.14
1,446.64
5.40
11.13
30.67
46.98
25.54
0.77
32.02
State Bank of Travancore
4.9
1.07
3,209.75
1.99
17.48
26.18
12.47
24.08
17.91
13.67
Sumedha Fiscal Services
3.55
1.11
18.7
2.12
32.23
52.83
10.67
19.76
0.01
26.85
Supreme Industries
10.53
3.97
1,525.08
1.98
19.67
37.74
27.79
34.13
0.87
36.62
Syndicate Bank
6.7
1
5,475.45
2.74
25.51
10.98
4.66
15.57
22.41
22.45
Thangamayil Jewellery
8.58
2
162.85
2.72
104.08
151.49
300
23.19
0.93
39.93
Tilaknagar Industries
18.3
4.79
622.61
1.11
41.42
130.5
20.14
39.48
2.48
7.95
Titan Industries
43.12
15.44
12,439.66
0.50
33.36
35.57
49.53
34.55
0.1
31.01
TRF
17.88
5.1
904.34
0.91
31.66
60.97
17.02
27.78
0.85
20.39
TTK Prestige
18.06
7.5
1,034.79
1.08
21.72
65.09
41.42
42.97
0.02
25.17
UFLEX
9.58
1.05
854.53
2.59
10.49
29.57
7.72
14.49
1.58
29.07
Unichem Laboratories
11.66
2.4
1,566.01
1.89
9.67
13.20
22.96
24.01
0.04
27.01
Union Bank of India
7.16
1.7
15,989.51
1.63
22.73
31.43
11.96
23.55
19.31
15.66
V S T Tillers Tractors
10.3
3.26
436.12
1.45
27.54
54.25
25.74
33.35
0.08
17.85
V-Guard Industries
14.26
2.77
422.94
1.88
26.93
24.36
20
18
0.56
40.99
Wyeth
18.97
6.51
1,882.13
2.47
8.56
13.90
8.58
21.26
0.01
86.67
Zydus Wellness
40.23
18.62
2,015.34
0.52
72.88
96.80
31.61
45
0
30.19
Since there are 79 stocks in my portfolio, top stock gets 79 points and the bottom stock gets 1 point in each of the parameter. Adding up the scores, the final ranking of my portfolio looks something like this -
Company Name
Ranking
Navin Flourine Int.
1
Thangamayil Jewellery
2
IL&FS Investment Managers
3
Sumedha Fiscal Services
4
Ador Fontech
5
Jenburkt Pharma.
6
Hawkins Cookers
7
eClerx Services
8
Patels Airtemp (India)
9
Gillanders Arbuthnot & Co.
10
SRF
11
Sree Sakthi Paper Mills
12
Nava Bharat Ventures
13
Sahyadri Industries
14
KCP
15
Balmer Lawrie & Co.
16
Graphite India
17
Lincoln Pharmaceuticals
18
V S T Tillers Tractors
19
Page Industries
20
Zydus Wellness
21
Blue Star
22
Manjushree Technopack
23
Clariant Chemicals
24
Dhanuka Agritech
25
Anuh Pharma
26
Castrol India
27
Roto Pumps
28
Pennar Industries
29
Sonata Software
30
Supreme Industries
31
TTK Prestige
32
Natural Capsules
33
Opto Circuits (India)
34
KNR Constructions
35
Cosmo Films
36
Colgate-Palmolive (I)
37
G I C Housing Fin.
38
Indian Bank
39
Gruh Finance
40
Kabra Extrusiontechnik
41
Corporation Bank
42
I K F Finance
43
Raj Packaging Inds.
44
ADF Foods
45
FDC
46
Deepak Fertilisers & Petro.
47
V-Guard Industries
48
Garden Silk Mills
49
Cummins India
50
Navneet Publications
51
Tilaknagar Industries
52
Titan Industries
53
J&K Bank
54
Karur Vysya Bank
55
Jyothy Laboratories
56
South Indian Bank
57
Atul
58
TRF
59
Ajanta Pharma
60
Asian Paints
61
State Bank of Travancore
62
UFLEX
63
First Leasing
64
Unichem Laboratories
65
Elgi Equipments
66
Godrej Consumer Products
67
Pidilite Industries
68
Wyeth
69
Canara Bank
70
Syndicate Bank
71
Glaxo Consumer Healthcare
72
Jupiter Biosciences
73
Union Bank of India
74
M&M Financial Services
75
J B M Auto
76
Federal Bank
77
HSIL
78
Berger Paints India
79
So stocks at the bottom of the list go out of my portfolio first.
Also, what inference are you making from a company that ranks high?
I do not have too much confidence in Navin Flourine (list topper), for example. At the end of the day, one still needs to use one's judgment about each company.
In addition one needs to give certain premium for those company who do branding advert and promotion. These things increase MOAT and recognition and yet shown at expense side. For example companies like Titan, Page etc should be given extra premium compared to Voltamp.
Regards,
K.
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