Sreechem Resins Ltd

Sreechem Resins Ltd

₹ 78.5 4.99%
12 Apr 4:01 p.m.
About

Incorporated in 1988, Sreechem Resins Ltd is a manufacturer of Phenolic Resins & Allied Product

Key Points

Product Profile:[1]
Synthetic PF Resins viz., Novolak Resin and
Resol Resin, both in Liquid and Powder Form, Magnesia carbon refractory, Alumina carbon refractory, Dolomite refractory and Continuous casting refractory

  • Market Cap 31.4 Cr.
  • Current Price 78.5
  • High / Low 93.2 / 34.7
  • Stock P/E
  • Book Value 26.9
  • Dividend Yield 0.00 %
  • ROCE 10.3 %
  • ROE 7.44 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Debtor days have improved from 56.1 to 18.4 days.
  • Company's working capital requirements have reduced from 63.4 days to 39.8 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding is low: 21.0%
  • Company's cost of borrowing seems high

* 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

Figures in Rs. Crores

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
12.25 16.36 14.31 8.70 18.42 31.10 38.29 21.96 8.84 7.45 7.29 8.14 19.69
10.93 14.69 13.77 8.48 17.58 27.62 35.36 21.41 9.15 8.48 7.70 8.05 17.27
Operating Profit 1.32 1.67 0.54 0.22 0.84 3.48 2.93 0.55 -0.31 -1.03 -0.41 0.09 2.42
OPM % 10.78% 10.21% 3.77% 2.53% 4.56% 11.19% 7.65% 2.50% -3.51% -13.83% -5.62% 1.11% 12.29%
0.05 0.01 0.00 0.00 0.01 0.03 0.01 0.01 0.01 0.03 0.02 0.04 0.00
Interest 0.09 0.17 0.13 0.12 0.15 0.26 0.23 0.21 0.07 0.10 0.09 0.07 0.10
Depreciation 0.08 0.06 0.06 0.07 0.09 0.12 0.09 0.09 0.09 0.23 0.13 0.13 0.14
Profit before tax 1.20 1.45 0.35 0.03 0.61 3.13 2.62 0.26 -0.46 -1.33 -0.61 -0.07 2.18
Tax % 0.00% 37.93% 0.00% 0.00% 0.00% 33.55% 0.00% 0.00% 0.00% -20.30% 0.00% 0.00% 0.00%
1.20 0.90 0.35 0.03 0.61 2.08 2.62 0.26 -0.46 -1.60 -0.61 -0.07 2.19
EPS in Rs 3.00 2.25 0.88 0.08 1.52 5.20 6.55 0.65 -1.15 -4.00 -1.52 -0.18 5.48
Raw PDF

Profit & Loss

Figures in Rs. Crores

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
29.53 28.55 30.69 31.27 24.42 24.95 28.27 32.88 29.71 34.47 72.53 76.53 42.57
28.42 27.44 29.61 30.28 24.27 24.73 28.03 32.44 28.81 31.52 67.47 74.38 41.50
Operating Profit 1.11 1.11 1.08 0.99 0.15 0.22 0.24 0.44 0.90 2.95 5.06 2.15 1.07
OPM % 3.76% 3.89% 3.52% 3.17% 0.61% 0.88% 0.85% 1.34% 3.03% 8.56% 6.98% 2.81% 2.51%
0.06 0.05 0.03 0.08 0.13 0.05 -0.45 0.02 0.04 0.06 0.05 0.05 0.09
Interest 0.56 0.56 0.53 0.49 0.34 0.30 0.28 0.34 0.31 0.37 0.65 0.61 0.36
Depreciation 0.45 0.44 0.46 0.24 0.24 0.25 0.25 0.22 0.19 0.23 0.34 0.50 0.63
Profit before tax 0.16 0.16 0.12 0.34 -0.30 -0.28 -0.74 -0.10 0.44 2.41 4.12 1.09 0.17
Tax % 37.50% 25.00% 33.33% 29.41% 0.00% 3.57% 28.38% 0.00% 40.91% 22.82% 24.51% 24.77%
0.10 0.11 0.09 0.24 -0.31 -0.26 -0.53 -0.10 0.26 1.85 3.10 0.82 -0.09
EPS in Rs 0.25 0.28 0.22 0.60 -0.78 -0.65 -1.32 -0.25 0.65 4.62 7.75 2.05 -0.22
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: 10%
5 Years: 22%
3 Years: 37%
TTM: -58%
Compounded Profit Growth
10 Years: 22%
5 Years: 79%
3 Years: 47%
TTM: -102%
Stock Price CAGR
10 Years: %
5 Years: 65%
3 Years: 78%
1 Year: 32%
Return on Equity
10 Years: 8%
5 Years: 16%
3 Years: 22%
Last Year: 7%

Balance Sheet

Figures in Rs. Crores

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 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00
Reserves 2.17 2.28 2.37 2.61 2.30 2.04 1.51 1.41 1.66 3.52 6.62 7.43 6.76
4.05 4.28 3.69 2.83 2.65 2.13 2.70 3.13 3.50 5.76 7.31 3.78 2.42
3.93 4.44 4.29 2.36 3.56 1.73 3.93 2.71 5.50 6.45 5.44 1.20 2.42
Total Liabilities 14.15 15.00 14.35 11.80 12.51 9.90 12.14 11.25 14.66 19.73 23.37 16.41 15.60
2.72 2.49 2.15 1.92 1.82 1.67 1.47 1.58 1.80 2.50 5.14 6.19 6.06
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.51 1.98 0.97 0.01 0.00
Investments 0.03 0.03 0.03 0.03 0.06 0.03 0.03 0.03 0.02 0.02 0.02 0.03 0.56
11.40 12.48 12.17 9.85 10.63 8.20 10.64 9.64 12.33 15.23 17.24 10.18 8.98
Total Assets 14.15 15.00 14.35 11.80 12.51 9.90 12.14 11.25 14.66 19.73 23.37 16.41 15.60

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0.94 0.56 0.97 1.26 0.46 0.91 -0.32 0.23 0.90 0.27 1.00 4.71
-0.23 -0.22 -0.12 0.06 -0.16 -0.09 -0.04 -0.34 -0.86 -2.40 -1.96 -0.60
-0.58 -0.31 -1.06 -1.34 -0.35 -0.77 0.33 0.13 0.10 1.95 0.95 -4.10
Net Cash Flow 0.13 0.03 -0.21 -0.02 -0.05 0.04 -0.04 0.02 0.13 -0.19 -0.01 0.02

Ratios

Figures in Rs. Crores

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 65.02 78.75 47.93 22.18 56.50 42.57 58.23 45.96 91.77 101.12 48.86 18.41
Inventory Days 75.09 82.15 102.45 96.91 110.29 83.56 84.03 66.14 65.99 73.96 46.76 28.13
Days Payable 49.56 54.45 45.10 22.51 53.39 24.69 59.14 37.31 86.93 92.30 32.46 4.81
Cash Conversion Cycle 90.54 106.45 105.28 96.58 113.39 101.44 83.12 74.79 70.83 82.79 63.16 41.73
Working Capital Days 91.47 100.87 92.89 86.96 106.12 90.99 80.95 72.49 78.50 91.70 58.73 39.82
ROCE % 6.86% 6.93% 6.30% 7.90% 0.44% 0.23% 0.24% 2.99% 8.47% 24.78% 30.57% 10.26%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
21.01% 21.01% 21.01% 21.01% 21.01% 21.01% 21.02% 21.02% 21.02% 21.02% 21.02% 21.04%
0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
78.94% 78.94% 78.94% 78.94% 78.94% 78.94% 78.93% 78.93% 78.93% 78.94% 78.94% 78.93%
No. of Shareholders 10,58010,49810,40810,31610,26610,18810,28210,23510,23710,21310,11310,058

* 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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