Punjab Alkalies & Chemicals Ltd

punjabalkalies.com BSE: 506852
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Punjab Alkalies & Chemicals Limited is involved in chemicals business. The Company's products include Caustic Soda Lye, Liquid Chlorine, Hydrochloric Acid, Sodium Hypochlorite and Hydrogen Gas.

Website BSE
  • Market Cap ₹ 296 Cr.
  • Current Price ₹ 95.2
  • High / Low ₹ 116 / 29.0
  • Stock P/E 155
  • Book Value ₹ 21.9
  • Dividend Yield 0.00 %
  • ROCE 13.6 %
  • ROE 5.61 %
  • Face Value ₹ 10.0
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Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 41.68%

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -7.08%
  • The company has delivered a poor sales growth of 1.78% over past five years.
  • Promoters have pledged 31.34% of their holding.
  • Earnings include an other income of Rs.25.03 Cr.

Peer comparison

Sector: Chemicals Industry: Chlor Alkali / Soda Ash

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
107.31 101.32 87.32 97.22 89.87 91.61 74.00 59.36 65.42 36.44 56.15 58.20
85.21 72.21 75.55 82.68 66.94 73.42 75.03 61.68 64.25 37.85 51.12 56.25
Operating Profit 22.10 29.11 11.77 14.54 22.93 18.19 -1.03 -2.32 1.17 -1.41 5.03 1.95
OPM % 20.59% 28.73% 13.48% 14.96% 25.51% 19.86% -1.39% -3.91% 1.79% -3.87% 8.96% 3.35%
Other Income -7.58 1.28 0.91 1.34 1.27 1.25 2.34 6.94 9.97 3.98 3.98 7.10
Interest 13.63 0.91 3.12 1.80 2.29 1.47 1.33 1.23 1.13 1.09 1.46 1.02
Depreciation 2.31 1.66 1.74 10.72 2.17 2.78 2.74 2.81 4.85 4.81 4.14 4.18
Profit before tax -1.42 27.82 7.82 3.36 19.74 15.19 -2.76 0.58 5.16 -3.33 3.41 3.85
Tax % 0.00% 0.00% 38.11% 0.00% -0.41% 21.33% 51.09% 108.62% 133.91% 0.00% 0.00% 7.27%
Net Profit -1.43 27.82 4.85 3.37 19.83 11.95 -1.35 -0.05 -1.75 -3.33 3.41 3.58
EPS in Rs -0.53 10.25 1.79 1.24 7.31 4.40 -0.50 -0.02 -0.64 -1.23 1.26 1.32
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Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
200 152 171 232 281 259 260 236 262 327 369 284 216
170 160 175 205 261 260 267 243 277 299 290 268 209
Operating Profit 31 -8 -5 27 20 -1 -7 -8 -15 28 78 16 7
OPM % 15% -5% -3% 12% 7% -1% -3% -3% -6% 9% 21% 6% 3%
Other Income 3 2 2 3 5 3 2 5 3 -3 5 21 25
Interest 10 8 10 11 8 1 1 5 4 20 8 5 5
Depreciation 11 11 12 13 13 10 8 7 8 9 16 13 18
Profit before tax 13 -25 -24 7 4 -10 -13 -14 -24 -5 59 18 9
Tax % 46% 10% 0% 33% 31% 0% 0% 0% 0% 0% 5% 52%
Net Profit 7 -22 -24 4 3 -10 -13 -14 -24 -5 56 9 2
EPS in Rs 3.47 -10.91 -11.82 2.14 1.37 -4.67 -6.30 -6.94 -8.96 -1.78 20.58 3.24 0.71
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:6%
5 Years:2%
3 Years:3%
TTM:-31%
Compounded Profit Growth
10 Years:8%
5 Years:18%
3 Years:29%
TTM:-94%
Stock Price CAGR
10 Years:14%
5 Years:46%
3 Years:32%
1 Year:171%
Return on Equity
10 Years:-2%
5 Years:10%
3 Years:42%
Last Year:6%

Balance Sheet

Figures in Rs. Crores

Corporate actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
20 20 20 20 20 20 20 20 27 27 27 27 27
Reserves 92 113 84 84 83 67 51 33 12 9 38 43 41
Borrowings 73 82 89 78 50 51 51 44 28 27 28 29 29
35 40 42 43 56 57 58 95 123 147 133 129 130
Total Liabilities 220 255 235 225 209 196 180 193 190 211 226 228 227
145 178 165 152 142 130 122 114 111 106 89 168 161
CWIP 2 3 1 1 2 1 1 2 5 5 16 15 21
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
72 75 69 73 65 66 57 77 74 100 121 46 44
Total Assets 220 255 235 225 209 196 180 193 190 211 226 228 227

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
29 -3 5 26 46 8 2 23 9 43 54 27
-0 -3 -4 -2 -7 -7 -1 -3 -11 -3 -36 -82
-31 1 -2 -21 -37 1 -2 -6 -0 -4 -3 -3
Net Cash Flow -3 -5 -1 3 2 2 -1 13 -2 36 16 -58

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 12% -8% -7% 9% 7% -6% -9% -9% -25% 40% 85% 14%
Debtor Days 48 61 53 47 19 15 9 8 6 5 6 7
Inventory Turnover 15.23 12.45 16.68 21.48 21.04 18.60 22.70 20.94 24.14 28.41 27.27 25.50

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
33.49 33.49 33.49 33.49 33.49 33.49 33.49 33.49 33.49 22.13 55.99 48.91
1.91 1.91 1.91 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.08
64.60 64.60 64.60 66.42 66.42 66.42 66.42 66.42 66.42 77.79 43.92 51.01

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