Ultramarine & Pigments Ltd

Ultramarine & Pigments Ltd

₹ 331 -0.36%
28 Mar - close price
About

Ultramarine & Pigments is engaged in manufacturing and selling of Pigments, Surfactants, IT-Enabled Services, and Business Process Outsourcing (BPO) activities. The Company caters to both domestic and international markets.

Key Points

FY23 Revenue breakup[1]
Pigments division - 32% (vs 26% in FY22)
Surfactants division - 59% (vs 66% in FY22)
IT Division - 9% (vs 8% in FY22)
Co. is a leading supplier of surfactants to South India-based FMCG players. It also manufactures detergent under the brand name OOB[2][3]

  • Market Cap 968 Cr.
  • Current Price 331
  • High / Low 463 / 306
  • Stock P/E 18.2
  • Book Value 286
  • Dividend Yield 1.51 %
  • ROCE 10.8 %
  • ROE 8.35 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Stock is trading at 1.16 times its book value
  • Company has been maintaining a healthy dividend payout of 24.4%
  • Debtor days have improved from 36.6 to 28.6 days.

Cons

  • Promoter holding has decreased over last quarter: -0.60%
  • Company has a low return on equity of 9.79% 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: Dyes And Pigments

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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
84 87 88 118 154 131 131 151 141 119 123 137 140
60 70 68 99 131 111 105 125 114 103 100 117 120
Operating Profit 24 16 21 20 23 20 26 26 27 16 23 20 20
OPM % 28% 19% 23% 17% 15% 16% 20% 17% 19% 14% 19% 15% 14%
2 2 1 5 1 1 1 7 -1 2 2 5 2
Interest 0 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 2 3 3 3 3 3 3 3 3 4 4 4 4
Profit before tax 24 15 19 21 20 17 23 29 22 13 21 20 17
Tax % 26% 26% 26% 21% 27% 27% 26% 21% 25% 26% 26% 22% 26%
18 11 14 17 15 13 17 23 17 10 15 16 12
EPS in Rs 6.02 3.75 4.75 5.75 5.11 4.37 5.90 7.90 5.66 3.30 5.29 5.42 4.22
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
136 140 150 172 220 255 277 307 306 308 491 541 519
113 119 125 143 183 205 217 236 230 232 407 448 440
Operating Profit 23 21 25 29 38 50 61 71 77 76 84 93 79
OPM % 17% 15% 17% 17% 17% 20% 22% 23% 25% 25% 17% 17% 15%
2 4 3 2 5 3 9 16 11 9 9 12 11
Interest 2 2 1 0 0 1 1 1 2 2 4 4 4
Depreciation 6 6 6 3 3 4 5 6 9 9 12 14 16
Profit before tax 18 17 22 28 39 48 63 80 78 75 78 88 70
Tax % 25% 30% 33% 32% 30% 33% 31% 30% 20% 26% 25% 24%
14 12 14 19 27 32 44 56 62 56 58 66 53
EPS in Rs 4.69 4.15 4.93 6.42 9.37 11.12 14.95 19.34 21.24 19.11 19.98 22.76 18.23
Dividend Payout % 64% 54% 51% 47% 37% 36% 28% 23% 24% 26% 25% 22%
Compounded Sales Growth
10 Years: 14%
5 Years: 14%
3 Years: 21%
TTM: -6%
Compounded Profit Growth
10 Years: 19%
5 Years: 10%
3 Years: 3%
TTM: -26%
Stock Price CAGR
10 Years: 21%
5 Years: 5%
3 Years: 3%
1 Year: 2%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 10%
Last Year: 8%

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 6 6 6 6 6 6 6 6 6 6 6 6 6
Reserves 76 80 86 94 109 308 505 379 297 455 854 727 830
10 6 2 0 0 0 0 0 29 38 42 48 47
34 27 33 39 38 48 52 46 50 61 79 67 92
Total Liabilities 125 119 127 138 153 361 563 431 381 560 980 848 976
43 41 41 38 52 60 70 79 91 119 142 157 173
CWIP 2 2 1 2 2 0 1 2 35 23 15 21 16
Investments 13 13 13 13 15 207 400 232 105 194 595 425 517
67 63 72 86 84 94 93 118 149 225 228 246 270
Total Assets 125 119 127 138 153 361 563 431 381 560 980 848 976

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
14 14 17 23 28 30 55 30 48 57 37 68
-10 1 2 -8 -9 -27 -41 -2 -39 -20 -60 -49
-13 -15 -11 -11 -23 -0 -15 -15 -16 13 -18 -17
Net Cash Flow -9 0 8 4 -5 3 -1 13 -8 50 -41 3

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 55 62 53 47 44 49 34 39 47 52 29 29
Inventory Days 109 72 110 102 71 73 68 70 93 93 92 102
Days Payable 61 23 45 54 57 71 78 57 80 91 50 52
Cash Conversion Cycle 103 112 118 94 58 51 25 53 59 54 71 79
Working Capital Days 34 59 58 61 54 47 37 47 87 96 90 80
ROCE % 23% 21% 25% 29% 37% 23% 15% 16% 22% 18% 12% 11%

Shareholding Pattern

Numbers in percentages

3 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
48.63% 47.23% 44.56% 44.53% 44.07% 43.04% 42.96% 42.66% 42.37% 42.37% 41.68% 41.07%
0.78% 0.78% 0.64% 0.58% 0.54% 0.73% 0.71% 0.67% 0.80% 0.80% 0.80% 0.84%
0.13% 0.14% 0.14% 0.14% 0.14% 0.15% 0.31% 0.14% 0.82% 0.82% 0.82% 0.82%
50.46% 51.85% 54.66% 54.75% 55.26% 56.08% 56.02% 56.51% 55.99% 55.99% 56.69% 57.25%
No. of Shareholders 15,56219,00319,97820,80021,44322,58722,69122,98623,03522,99922,94622,352

* 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.

Click on the line-items to see the names of individual entities.

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