DMCC Speciality Chemicals Ltd

DMCC Speciality Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

DMCC Speciality Chemicals Ltd

₹ 360 6.22%
25 Apr 12:25 p.m.
dmcc.com BSE: 506405 NSE : DMCC
About

The Dharamsi Morarji Chemical Company Limited is engaged in manufacturing of bulk chemicals and speciality chemicals used in industries such as pharmaceuticals, detergents, dyes etc. [1]

Key Points

Business Segments
Bulk Chemicals (46% of revenues in FY22 vs 35% in FY21):
These are high volume, low margin products. The Co. manufactures Sulphuric acid, Sulphuric anhydride, Oleum and Chloro sulphonic acid which find application in detergents, dyes and fertilizers.
Speciality Chemicals (54% of revenues in FY22 vs 65% in FY21):
These chemicals are created from strong process competencies and technical skills in handling hazardous reactions and fetch higher margins. The products manufactured by the Co. include Benzene sulphonic acid, Phenol sulphonic acid, Sodium benzene sulphonate, Menthyl lactate, Thiophenol etc. [1] [2]

Website BSE NSE
  • Market Cap ₹ 898 Cr.
  • Current Price ₹ 360
  • High / Low ₹ 380 / 240
  • Stock P/E 72.0
  • Book Value ₹ 81.5
  • Dividend Yield 0.00 %
  • ROCE 6.79 %
  • ROE 3.11 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company's working capital requirements have reduced from 25.6 days to 15.1 days

Cons

  • Stock is trading at 4.42 times its book value
  • Company has a low return on equity of 11.1% over last 3 years.
  • Dividend payout has been low at 7.05% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
47.32 63.87 70.65 72.53 81.48 101.64 113.39 104.71 71.91 94.59 85.57 76.52 80.53
39.29 53.48 59.65 65.45 70.01 90.45 98.49 101.11 70.83 80.21 74.60 66.99 73.41
Operating Profit 8.03 10.39 11.00 7.08 11.47 11.19 14.90 3.60 1.08 14.38 10.97 9.53 7.12
OPM % 16.97% 16.27% 15.57% 9.76% 14.08% 11.01% 13.14% 3.44% 1.50% 15.20% 12.82% 12.45% 8.84%
0.88 0.38 1.79 0.85 0.24 3.10 0.72 0.40 0.91 2.68 0.88 0.81 0.67
Interest 0.87 0.37 0.49 0.73 0.83 2.46 2.29 1.84 3.16 3.29 3.47 2.88 3.56
Depreciation 1.71 1.76 1.79 1.81 1.83 2.62 3.32 4.92 4.80 4.54 3.55 3.90 3.91
Profit before tax 6.33 8.64 10.51 5.39 9.05 9.21 10.01 -2.76 -5.97 9.23 4.83 3.56 0.32
Tax % 25.91% -24.42% 28.54% 32.10% 28.73% 59.50% 37.96% 0.00% 45.23% 27.63% 34.99% 33.71% 6.25%
4.70 10.75 7.52 3.66 6.46 3.73 6.22 -2.77 -3.28 6.68 3.14 2.36 0.29
EPS in Rs 1.88 4.31 3.02 1.47 2.59 1.50 2.49 -1.11 -1.32 2.68 1.26 0.95 0.12
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
81 86 101 120 108 175 178 227 188 200 326 385 337
79 81 86 101 91 145 155 174 160 165 286 351 295
Operating Profit 2 4 15 20 16 30 23 53 28 36 41 34 42
OPM % 3% 5% 15% 16% 15% 17% 13% 24% 15% 18% 12% 9% 12%
1 37 6 -1 0 1 1 1 6 8 6 5 5
Interest 2 3 2 2 1 5 4 3 2 2 5 11 13
Depreciation 5 5 3 2 2 4 4 5 6 7 8 18 16
Profit before tax -4 33 16 14 13 21 16 47 26 34 34 10 18
Tax % 0% 0% 0% 0% 9% 21% 21% 2% -22% 4% 37% 35%
-4 33 16 14 12 17 12 46 31 33 21 7 12
EPS in Rs -1.87 15.64 7.55 6.58 5.63 7.79 4.92 18.47 12.63 13.06 8.56 2.75 5.01
Dividend Payout % 0% 0% 0% 0% 0% 0% 10% 8% 0% 15% 6% 0%
Compounded Sales Growth
10 Years: 16%
5 Years: 17%
3 Years: 27%
TTM: -14%
Compounded Profit Growth
10 Years: 16%
5 Years: -13%
3 Years: -42%
TTM: 220%
Stock Price CAGR
10 Years: 43%
5 Years: 20%
3 Years: 6%
1 Year: 18%
Return on Equity
10 Years: 22%
5 Years: 18%
3 Years: 11%
Last Year: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 21 21 21 21 21 25 25 25 25 25 25 25 25
Reserves -62 -29 -13 1 13 35 48 91 120 148 168 173 178
Preference Capital 9 9 9 9 9 0 3 3 3 3 0 0
28 27 29 26 18 30 22 19 22 32 93 101 71
122 91 61 41 42 59 62 53 45 58 97 101 108
Total Liabilities 109 110 99 88 94 149 156 188 212 263 383 400 383
46 34 26 24 26 83 87 99 101 108 174 230 241
CWIP 0 1 1 1 5 3 3 1 9 38 63 11 7
Investments 0 0 0 0 0 2 4 3 3 1 1 1 1
63 75 72 63 63 60 62 86 98 116 146 159 135
Total Assets 109 110 99 88 94 149 156 188 212 263 383 400 383

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
6 -20 13 22 17 29 18 21 27 32 51 30
-2 42 11 -1 -7 -8 -9 -13 -17 -40 -98 -21
-5 -21 -24 -19 -10 -19 -9 -8 -6 3 45 -10
Net Cash Flow -1 0 0 2 1 2 0 -0 5 -4 -2 -1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 92 50 61 44 44 45 45 48 48 58 56 49
Inventory Days 42 42 52 62 104 60 73 80 113 151 79 78
Days Payable 232 136 126 76 115 129 114 79 68 116 131 121
Cash Conversion Cycle -98 -45 -12 29 33 -25 4 49 93 94 3 6
Working Capital Days -113 4 15 1 -7 -15 -6 46 81 47 15 15
ROCE % -1% 34% 34% 24% 35% 21% 43% 18% 19% 16% 7%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
53.28% 53.35% 53.35% 53.84% 53.84% 53.85% 53.84% 53.84% 53.84% 53.84% 53.84% 53.84%
0.04% 0.00% 0.00% 0.03% 0.00% 0.06% 0.10% 0.05% 0.00% 0.00% 0.00% 0.00%
1.24% 1.24% 1.24% 1.24% 1.25% 1.24% 1.24% 1.24% 1.24% 1.24% 1.26% 1.24%
45.44% 45.40% 45.40% 44.89% 44.91% 44.84% 44.82% 44.85% 44.90% 44.91% 44.90% 44.91%
No. of Shareholders 21,60421,47420,98621,45522,55322,66322,25521,59522,32221,77121,39620,579

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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