Ultramarine & Pigments Ltd

Ultramarine & Pigments is engaged in manufacturing and selling of Pigments, Surfactants, IT-Enabled Services, and Business Process Outsourcing (BPO) activities.

Pros:
Company is virtually debt free.
Company has good consistent profit growth of 28.18% over 5 years
Company has been maintaining a healthy dividend payout of 33.93%
Cons:
Company has a low return on equity of 13.88% for last 3 years.

Peer Comparison Sector: Chemicals // Industry: Dyes And Pigments

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Quarterly Results Figures in Rs. Crores

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
56 64 68 67 64 65 76 73 76 75 83 73
45 50 55 55 49 50 60 58 61 55 58 62
Operating Profit 11 14 13 12 15 15 16 14 16 20 25 11
OPM % 20% 21% 19% 18% 23% 23% 22% 20% 20% 26% 30% 15%
Other Income 1 1 0 1 1 5 3 0 7 5 2 2
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 1 1 1 2
Profit before tax 11 13 12 12 15 18 18 13 21 23 25 11
Tax % 34% 31% 33% 33% 33% 24% 33% 36% 22% 29% 35% 34%
Net Profit 7 9 8 8 10 14 12 8 16 17 16 7
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
76 84 106 104 118 136 140 150 172 220 255 277 307
53 65 88 87 95 113 119 125 143 183 205 217 236
Operating Profit 23 19 18 17 23 23 21 25 29 38 50 61 71
OPM % 30% 23% 17% 17% 19% 17% 15% 17% 17% 17% 20% 22% 23%
Other Income 6 5 5 4 6 2 4 3 2 5 3 9 15
Interest 0 0 1 1 0 2 2 1 0 0 1 1 0
Depreciation 3 3 3 4 4 6 6 6 3 3 4 5 6
Profit before tax 26 20 19 16 24 18 17 22 28 39 48 63 80
Tax % 21% 25% 25% 33% 30% 25% 30% 33% 32% 30% 33% 31%
Net Profit 20 15 14 11 17 14 12 14 19 27 32 44 56
EPS in Rs 6.38 4.72 4.43 3.19 5.33 4.20 3.77 4.50 5.81 8.66 11.12 14.95
Dividend Payout % 51% 57% 42% 81% 52% 64% 54% 51% 47% 37% 36% 28%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:12.70%
5 Years:14.63%
3 Years:17.23%
TTM:10.64%
Compounded Profit Growth
10 Years:10.72%
5 Years:28.18%
3 Years:30.98%
TTM:29.45%
Return on Equity
10 Years:15.36%
5 Years:14.72%
3 Years:13.88%
Last Year:10.21%

Balance Sheet Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
6 6 6 6 6 6 6 6 6 6 6 6 6
Reserves 62 67 74 66 73 76 80 86 94 109 308 505 379
Borrowings 6 5 6 3 8 10 6 2 0 0 0 0 0
13 25 26 29 30 36 29 34 40 39 49 53 46
Total Liabilities 86 103 112 104 116 128 121 129 139 154 362 564 431
21 21 31 29 29 43 41 41 38 52 60 70 79
CWIP 0 1 1 0 11 2 2 1 2 2 0 1 2
Investments 28 41 40 19 16 13 13 13 13 15 207 400 232
37 40 41 55 59 69 65 73 86 84 95 93 118
Total Assets 86 103 112 104 116 128 121 129 139 154 362 564 431

Cash Flows Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
12 23 23 5 18 14 14 17 23 28 30 55
1 -14 -9 10 -11 -10 1 2 -8 -9 -27 -41
-12 -11 -5 -10 -6 -13 -15 -11 -11 -23 -0 -15
Net Cash Flow 2 -1 8 5 1 -9 0 8 4 -5 3 -1

Ratios Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 32% 27% 24% 21% 27% 23% 21% 25% 29% 37% 23% 15%
Debtor Days 61 59 47 44 45 55 62 53 47 44 49 34
Inventory Turnover 7.75 7.02 8.18 8.72 9.16 9.61 10.18 10.07 8.92 10.70 11.07 10.99