Ajanta Soya Ltd

ajantasoya.com BSE: 519216
About

Ajanta Soya Ltd is primarily engaged in the business of manufacturing of Vanaspati and various kinds of cooking oil with shortening products for bakery like biscuits, puffs, pastries and other applications.[1]

Key Points

Product Portfolio
The company's product portfolio includes Vanaspati oil[1] and various kinds of cooking oils made of mustard, soybean, palm, rice bran, cotton seed, sunflower and groundnut in various packaging sizes.[2] It also manufactures various kinds of shortening products for bakery like biscuits, puffs, pastries and other applications.[3]

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Website BSE
  • Market Cap ₹ 199 Cr.
  • Current Price ₹ 123
  • High / Low ₹ 152 / 34.2
  • Stock P/E 5.99
  • Book Value ₹ 49.3
  • Dividend Yield 0.00 %
  • ROCE 60.2 %
  • ROE 37.2 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 38.64% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Contingent liabilities of Rs.160.30 Cr.

Peer comparison

Sector: Edible Oil Industry: Miscellaneous

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Quarterly Results

Figures in Rs. Crores

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
170.12 196.27 178.58 187.56 175.43 195.95 201.19 190.30 239.79 240.50 260.80 336.59
172.31 194.78 173.74 186.09 168.49 191.75 197.93 189.13 230.96 229.96 245.01 323.15
Operating Profit -2.19 1.49 4.84 1.47 6.94 4.20 3.26 1.17 8.83 10.54 15.79 13.44
OPM % -1.29% 0.76% 2.71% 0.78% 3.96% 2.14% 1.62% 0.61% 3.68% 4.38% 6.05% 3.99%
Other Income -0.14 -0.07 5.16 1.57 -0.26 0.70 -0.46 1.23 1.74 2.02 2.65 0.37
Interest 1.11 1.43 1.17 0.75 0.55 1.12 0.55 0.53 0.89 0.55 -0.20 0.18
Depreciation 0.37 0.38 0.38 0.39 0.41 0.40 0.40 0.40 0.40 0.41 0.42 0.45
Profit before tax -3.81 -0.39 8.45 1.90 5.72 3.38 1.85 1.47 9.28 11.60 18.22 13.18
Tax % 19.42% -30.77% 46.51% 29.47% 20.45% 34.62% 8.11% 53.74% 21.23% 33.88% 48.02% 34.14%
Net Profit -3.08 -0.51 4.52 1.34 4.56 2.21 1.69 0.68 7.31 7.67 9.47 8.68
EPS in Rs -1.91 -0.32 2.81 0.83 2.83 1.37 1.05 0.42 4.54 4.76 5.88 5.39
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Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
232 302 370 418 473 553 579 700 346 695 760 931 1,078
230 299 366 416 470 549 573 694 346 692 744 895 1,029
Operating Profit 2 3 4 2 3 3 6 6 0 2 16 36 49
OPM % 1% 1% 1% 1% 1% 1% 1% 1% 0% 0% 2% 4% 5%
Other Income 0 1 1 1 2 2 3 8 6 5 2 8 7
Interest 1 1 3 2 1 1 1 1 1 5 3 2 1
Depreciation 1 1 1 1 2 2 1 1 1 2 2 2 2
Profit before tax 0 1 0 1 2 2 7 11 4 2 13 41 52
Tax % 10% 42% 55% 0% 27% -13% 28% 35% 75% 125% 24% 38%
Net Profit 0 0 0 1 1 3 5 7 1 -0 10 25 33
EPS in Rs 0.38 0.39 0.18 0.34 0.90 1.65 3.28 4.60 0.58 -0.25 6.09 15.62 20.57
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:12%
5 Years:10%
3 Years:39%
TTM:41%
Compounded Profit Growth
10 Years:49%
5 Years:39%
3 Years:250%
TTM:262%
Stock Price CAGR
10 Years:27%
5 Years:42%
3 Years:61%
1 Year:217%
Return on Equity
10 Years:13%
5 Years:16%
3 Years:20%
Last Year:37%

Balance Sheet

Figures in Rs. Crores

Corporate actions Corp actions Equity History
Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
12 12 12 16 16 16 16 16 16 16 16 16
Reserves 8 9 9 11 12 11 16 25 29 28 38 63
Borrowings 12 22 32 12 3 16 16 1 30 24 3 3
16 11 8 35 64 49 59 70 42 87 60 78
Total Liabilities 48 54 61 73 95 92 107 112 117 155 117 160
12 11 10 16 14 10 10 10 32 32 31 35
CWIP 0 0 3 0 0 0 0 0 0 0 1 1
Investments 3 3 3 3 11 15 22 24 5 5 5 18
34 39 44 55 70 67 76 79 80 118 81 106
Total Assets 48 54 61 73 95 92 107 112 117 155 117 160

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-8 -8 4 17 23 -15 11 21 -45 22 21 22
5 -1 -11 -1 -8 -1 -6 -12 10 -4 0 -23
3 9 7 -16 -12 13 -1 -11 33 -11 -26 4
Net Cash Flow 0 -0 -0 0 3 -2 4 -3 -2 7 -5 2

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 22 18 15 21 14 15 11 11 16 15 8 7
Inventory Days 27 25 16 17 26 22 29 17 48 30 21 18
Days Payable 24 11 5 5 2 2 8 3 10 10 4 3
Cash Conversion Cycle 25 32 26 33 38 35 32 25 54 35 25 21
Working Capital Days 26 30 25 10 -7 6 2 -8 31 7 4 4
ROCE % 5% 6% 7% 5% 9% 9% 18% 24% 6% 2% 25% 60%

Shareholding Pattern

Numbers in percentages

Insider trades
Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
46.73 46.85 46.85 46.85 46.85 46.85 46.85 46.85 46.85 46.85 46.85 46.85
53.27 53.15 53.15 53.15 53.15 53.14 53.15 53.15 53.15 53.15 53.15 53.15

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