Resonance Specialities Ltd

Resonance Specialities Ltd

₹ 112 2.46%
14 Jun - close price
About

Resonance Specialities Ltd is engaged in the business of manufacturing of chemicals like pyridine, picoline, cyanopyridine and their derivatives.[1]The company was formerly known as Armour Polymers Limited, was the first in India to manufacture Pyridines.

Key Points

Product Portfolio[1]
The company manufactures and markets specialty chemicals based on pyridine chemistry such as Lutidine, cyano Pyridines, picoline, collidines, nutritional products, feed supplements, APIs, vitamins, etc. Pyridine
is segmented as Pyridine, Beta picoline, Alpha picoline, and Gamma picoline. The Asia-Pacific region is the largest market for pyridine.

  • Market Cap 129 Cr.
  • Current Price 112
  • High / Low 133 / 81.0
  • Stock P/E 43.4
  • Book Value 49.8
  • Dividend Yield 0.89 %
  • ROCE 7.27 %
  • ROE 5.25 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of 5.96% over past five years.
  • Company has a low return on equity of 12.9% over last 3 years.
  • Debtor days have increased from 68.0 to 87.9 days.
  • Promoter holding has decreased over last 3 years: -8.06%

* 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
19.51 21.48 18.50 15.96 18.27 15.91 15.09 9.28 18.38 13.46 10.14 15.34 16.36
15.10 16.87 14.10 12.84 15.20 14.24 13.60 7.58 16.58 11.87 9.22 14.02 15.31
Operating Profit 4.41 4.61 4.40 3.12 3.07 1.67 1.49 1.70 1.80 1.59 0.92 1.32 1.05
OPM % 22.60% 21.46% 23.78% 19.55% 16.80% 10.50% 9.87% 18.32% 9.79% 11.81% 9.07% 8.60% 6.42%
-0.26 0.54 0.48 1.34 0.54 0.75 0.73 0.11 0.18 0.14 0.25 0.25 0.29
Interest 0.16 0.04 0.01 0.01 0.01 0.02 0.02 0.02 0.04 0.07 0.09 0.11 0.12
Depreciation 0.27 0.44 0.44 0.44 0.43 0.32 0.34 0.43 0.39 0.35 0.36 0.38 0.37
Profit before tax 3.72 4.67 4.43 4.01 3.17 2.08 1.86 1.36 1.55 1.31 0.72 1.08 0.85
Tax % 42.20% 25.05% 24.38% 27.68% 17.98% 26.92% 25.81% 36.03% 20.65% 33.59% 36.11% 11.11% 21.18%
2.14 3.50 3.35 2.90 2.60 1.52 1.38 0.87 1.24 0.87 0.46 0.96 0.67
EPS in Rs 1.85 3.03 2.90 2.51 2.25 1.32 1.20 0.75 1.07 0.75 0.40 0.83 0.58
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
39.52 45.30 37.84 38.63 33.91 35.71 41.40 56.14 70.29 75.76 58.82 55.30
37.36 42.19 36.59 35.62 31.89 35.06 36.51 48.39 56.04 59.01 51.99 50.42
Operating Profit 2.16 3.11 1.25 3.01 2.02 0.65 4.89 7.75 14.25 16.75 6.83 4.88
OPM % 5.47% 6.87% 3.30% 7.79% 5.96% 1.82% 11.81% 13.80% 20.27% 22.11% 11.61% 8.82%
0.38 -0.38 1.86 0.26 0.82 1.08 1.31 0.44 1.59 1.36 1.61 0.93
Interest 0.76 0.59 0.58 0.52 0.39 0.55 0.54 0.35 0.29 0.07 0.11 0.39
Depreciation 1.15 1.10 1.16 1.12 1.06 1.15 0.91 0.92 0.98 1.75 1.48 1.46
Profit before tax 0.63 1.04 1.37 1.63 1.39 0.03 4.75 6.92 14.57 16.29 6.85 3.96
Tax % 25.40% 0.96% 7.30% 27.61% 25.90% 2,700.00% 32.63% 20.38% 27.73% 24.06% 27.01% 25.00%
0.46 1.03 1.28 1.19 1.03 -0.77 3.20 5.51 10.52 12.36 5.00 2.97
EPS in Rs 0.40 0.89 1.11 1.03 0.89 -0.67 2.77 4.77 9.11 10.71 4.33 2.57
Dividend Payout % 0.00% 56.02% 45.08% 0.00% 0.00% 0.00% 0.00% 20.94% 10.97% 9.34% 23.08% 0.00%
Compounded Sales Growth
10 Years: 2%
5 Years: 6%
3 Years: -8%
TTM: -6%
Compounded Profit Growth
10 Years: 10%
5 Years: -2%
3 Years: -34%
TTM: -40%
Stock Price CAGR
10 Years: 24%
5 Years: 25%
3 Years: -10%
1 Year: 32%
Return on Equity
10 Years: 13%
5 Years: 17%
3 Years: 13%
Last Year: 5%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 11.54 11.54 11.54 11.54 11.54 11.54 11.54 11.54 11.54 11.54 11.54 11.54
Reserves 9.42 9.45 9.95 11.14 12.42 11.72 14.93 18.99 29.13 40.26 44.15 45.95
3.45 3.38 3.12 1.92 4.07 3.40 0.00 0.00 0.72 0.09 2.29 4.16
8.74 9.77 9.95 7.76 11.75 10.19 11.70 10.60 13.25 4.89 7.81 12.12
Total Liabilities 33.15 34.14 34.56 32.36 39.78 36.85 38.17 41.13 54.64 56.78 65.79 73.77
16.56 15.22 14.26 13.86 15.06 14.60 14.07 14.11 15.90 13.83 19.91 22.89
CWIP 0.03 0.03 0.03 0.13 0.20 0.60 0.83 1.84 0.04 0.44 0.44 0.32
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.10 0.75 0.12 0.00 2.81
16.56 18.89 20.27 18.37 24.52 21.65 23.27 25.08 37.95 42.39 45.44 47.75
Total Assets 33.15 34.14 34.56 32.36 39.78 36.85 38.17 41.13 54.64 56.78 65.79 73.77

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0.79 1.76 1.11 3.23 0.56 2.14 5.27 1.42 4.28 13.33 -8.37 4.16
0.00 -0.07 -0.28 -0.82 -2.62 -1.11 -0.50 -1.82 -1.18 -8.80 3.20 -6.63
-0.84 -0.60 -1.52 -2.41 1.76 -1.01 -3.65 1.15 0.31 -1.86 0.93 0.33
Net Cash Flow -0.05 1.09 -0.69 0.01 -0.30 0.02 1.11 0.76 3.42 2.66 -4.24 -2.13

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 70.75 76.63 99.16 66.05 79.76 67.97 66.74 39.92 48.92 39.51 76.57 87.92
Inventory Days 105.52 81.52 133.71 159.21 397.20 211.58 180.17 232.12 236.12 175.79 646.44 336.54
Days Payable 69.49 68.68 116.18 108.07 262.26 127.21 138.98 114.32 120.62 17.35 137.50 125.06
Cash Conversion Cycle 106.78 89.46 116.69 117.19 214.70 152.35 107.93 157.71 164.41 197.94 585.51 299.40
Working Capital Days 94.02 83.15 100.80 91.94 128.09 114.27 93.19 81.92 102.61 143.09 210.86 244.48
ROCE % 5.70% 7.30% 3.96% 8.74% 6.84% 2.23% 20.21% 30.63% 41.32% 34.91% 12.65%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
62.31% 62.31% 62.31% 54.25% 54.25% 54.25% 54.25% 54.25% 54.25% 54.25% 54.25% 54.25%
0.00% 0.27% 0.26% 0.26% 0.26% 0.23% 0.23% 0.23% 0.00% 0.00% 0.00% 0.00%
0.07% 0.03% 0.00% 0.00% 0.00% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
37.61% 37.38% 37.42% 45.49% 45.49% 45.48% 45.49% 45.49% 45.71% 45.74% 45.72% 45.71%
No. of Shareholders 12,68014,38912,31012,97312,88313,07013,33013,26413,20612,54711,94111,973

* 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.

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