Amal Ltd

About [ edit ]

Amal is engaged in manufacturing and marketing of bulk chemicals such as Sulphuric acid and Oleum and their downstream products such as Sulphur dioxide and Sulphur trioxide.(Source : 201903 Annual Report Page No: 1)

  • Market Cap 322 Cr.
  • Current Price 342
  • High / Low 444 / 110
  • Stock P/E 36.4
  • Book Value 36.5
  • Dividend Yield 0.00 %
  • ROCE 35.1 %
  • ROE 28.1 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 34.71%
  • Debtor days have improved from 88.73 to 58.43 days.

Cons

  • Stock is trading at 9.37 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 5.59% over past five years.

Peer comparison

Sector: Chemicals Industry: Dyes And Pigments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
9.25 9.19 3.54 10.89 9.56 8.84 6.96 7.24 4.92 6.71 9.14 9.66
4.62 5.11 4.59 6.20 4.76 5.21 4.51 4.19 3.23 4.69 4.98 6.23
Operating Profit 4.63 4.08 -1.05 4.69 4.80 3.63 2.45 3.05 1.69 2.02 4.16 3.43
OPM % 50.05% 44.40% -29.66% 43.07% 50.21% 41.06% 35.20% 42.13% 34.35% 30.10% 45.51% 35.51%
Other Income 0.07 0.13 0.16 0.20 0.20 0.25 0.25 1.03 0.23 0.14 0.25 0.62
Interest 0.60 0.60 0.60 0.60 0.53 0.53 0.53 0.53 0.18 0.18 0.19 0.18
Depreciation 0.10 0.11 0.12 0.21 0.21 0.21 0.21 0.23 0.23 0.23 0.25 0.24
Profit before tax 4.00 3.50 -1.61 4.08 4.26 3.14 1.96 3.32 1.51 1.75 3.97 3.63
Tax % 26.00% 27.43% 28.57% 16.42% 29.81% 25.16% 30.61% 25.60% 28.48% 28.00% 7.56% 22.04%
Net Profit 2.96 2.54 -1.15 3.41 3.00 2.36 1.36 2.47 1.08 1.26 3.68 2.82
EPS in Rs 3.14 2.69 -1.22 3.62 3.18 2.50 1.44 2.62 1.15 1.34 3.90 2.99

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
4.93 13.05 13.51 17.07 16.20 18.82 23.18 25.71 31.64 32.87 32.60 30.42
4.81 15.45 16.60 17.51 15.69 19.32 19.18 13.86 19.41 20.54 18.69 19.11
Operating Profit 0.12 -2.40 -3.09 -0.44 0.51 -0.50 4.00 11.85 12.23 12.33 13.91 11.31
OPM % 2.43% -18.39% -22.87% -2.58% 3.15% -2.66% 17.26% 46.09% 38.65% 37.51% 42.67% 37.18%
Other Income 4.92 0.03 0.21 0.80 2.73 0.26 0.06 0.08 0.33 0.57 1.74 1.24
Interest 0.00 0.05 0.01 0.00 0.00 0.00 2.35 2.67 2.47 2.38 2.10 0.73
Depreciation 1.30 1.30 0.32 0.35 0.32 0.34 0.37 0.37 0.38 0.54 0.85 0.96
Profit before tax 3.74 -3.72 -3.21 0.01 2.92 -0.58 1.34 8.89 9.71 9.98 12.70 10.86
Tax % -0.80% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22.34% 27.56% 18.51%
Net Profit 3.77 -3.72 -3.21 0.01 2.92 -0.58 1.35 8.89 9.70 7.75 9.19 8.85
EPS in Rs 5.37 -5.30 -4.57 0.01 4.16 -0.83 1.92 12.65 10.29 8.22 9.75 9.39
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years:9%
5 Years:6%
3 Years:-1%
TTM:-7%
Compounded Profit Growth
10 Years:17%
5 Years:46%
3 Years:-2%
TTM:1%
Stock Price CAGR
10 Years:35%
5 Years:55%
3 Years:37%
1 Year:192%
Return on Equity
10 Years:%
5 Years:%
3 Years:35%
Last Year:28%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
7.03 17.03 17.03 17.03 17.03 17.03 7.03 7.03 13.50 13.91 12.63 9.43
Reserves -29.81 -33.53 -36.75 -36.74 -33.83 -34.41 -19.44 -10.54 -0.83 6.91 16.10 24.94
Borrowings 23.95 16.68 16.69 16.69 16.69 16.69 15.44 14.97 9.37 7.33 1.28 1.73
7.49 16.43 20.90 22.62 17.95 19.66 5.83 4.98 6.48 8.96 7.58 8.54
Total Liabilities 8.66 6.61 7.87 9.60 7.84 8.97 8.86 16.44 24.45 32.63 34.39 44.64
4.44 4.52 5.86 5.63 5.45 5.97 5.79 6.20 5.99 9.38 9.50 9.29
CWIP 0.65 0.30 0.03 0.00 0.00 0.00 0.39 0.06 0.84 0.01 0.05 2.62
Investments 0.02 0.02 0.02 0.02 0.02 0.02 0.02 1.93 4.21 9.51 14.83 24.35
3.55 1.77 1.96 3.95 2.37 2.98 2.66 8.25 13.41 13.73 10.01 8.38
Total Assets 8.66 6.61 7.87 9.60 7.84 8.97 8.86 16.44 24.45 32.63 34.39 44.64

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0.12 0.51 1.34 1.36 -2.81 1.11 0.24 7.26 8.27 8.79 14.50 11.40
-0.65 -3.40 -1.37 -0.08 1.56 -0.84 -0.43 -2.36 -2.85 -7.86 -4.65 -9.63
0.67 2.68 0.00 0.00 0.00 0.00 0.00 -3.25 -4.00 -4.00 -9.43 -2.01
Net Cash Flow 0.14 -0.21 -0.03 1.28 -1.25 0.27 -0.19 1.64 1.42 -3.06 0.41 -0.24

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % -494.81% 315.38% 159.56% 71.46% 49.21% 48.76% 35.07%
Debtor Days 13.33 6.15 4.32 4.28 3.60 5.62 7.24 60.90 96.79 127.81 79.94 58.43
Inventory Turnover 4.84 11.44 25.39 19.00 10.45 11.89 11.34 8.17 13.02 13.38 12.07 10.51

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
65.51 65.51 65.51 65.51 65.51 65.51 65.54 65.54 65.54 65.60 66.14 66.14
0.02 0.02 0.02 0.02 0.02 0.02 0.04 0.02 0.02 0.02 0.02 0.02
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.21
34.47 34.47 34.47 34.47 34.47 34.47 34.42 34.43 34.43 34.38 33.84 33.63

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