Resonance Specialities Ltd

₹ 104 -1.38%
27 Jan - close price
About

Resonance Specialities Ltd is engaged in the business of manufacturing of chemicals like pyridine, picoline, cyanopyridine and their derivatives.[1]

Key Points

Product Portfolio
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.[1]

  • Market Cap 120 Cr.
  • Current Price 104
  • High / Low 215 / 102
  • Stock P/E 14.2
  • Book Value 46.4
  • Dividend Yield 0.96 %
  • ROCE 34.9 %
  • ROE 26.6 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 63.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.7%

Cons

  • Earnings include an other income of Rs.3.49 Cr.
  • Promoter holding has decreased over last 3 years: -10.5%

* 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

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
13.32 16.25 11.82 10.77 22.14 17.87 19.51 21.48 18.50 15.96 18.27 15.78 15.09
11.75 13.16 10.67 9.98 16.78 14.16 15.10 16.87 14.10 12.84 15.20 14.24 13.60
Operating Profit 1.57 3.09 1.15 0.79 5.36 3.71 4.41 4.61 4.40 3.12 3.07 1.54 1.49
OPM % 11.79% 19.02% 9.73% 7.34% 24.21% 20.76% 22.60% 21.46% 23.78% 19.55% 16.80% 9.76% 9.87%
0.23 0.65 0.30 0.34 0.62 0.88 -0.26 0.54 0.48 1.34 0.54 0.88 0.73
Interest 0.08 0.06 0.06 0.02 0.13 -0.01 0.16 0.04 0.01 0.01 0.01 0.02 0.02
Depreciation 0.22 0.23 0.24 0.23 0.25 0.24 0.27 0.44 0.44 0.44 0.43 0.32 0.34
Profit before tax 1.50 3.45 1.15 0.88 5.60 4.36 3.72 4.67 4.43 4.01 3.17 2.08 1.86
Tax % 24.67% 29.86% -5.22% 29.55% 29.11% 16.51% 42.20% 25.05% 24.38% 27.68% 17.98% 26.92% 25.81%
Net Profit 1.13 2.43 1.22 0.63 3.98 3.63 2.14 3.50 3.35 2.90 2.60 1.52 1.38
EPS in Rs 0.98 2.10 1.06 0.55 3.45 3.14 1.85 3.03 2.90 2.51 2.25 1.32 1.20
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
28.62 35.62 39.52 45.30 37.84 38.63 33.91 35.71 41.40 56.14 70.29 73.93 65.10
25.85 34.68 37.36 42.19 36.59 35.62 31.89 35.06 36.51 48.39 56.04 58.72 55.88
Operating Profit 2.77 0.94 2.16 3.11 1.25 3.01 2.02 0.65 4.89 7.75 14.25 15.21 9.22
OPM % 9.68% 2.64% 5.47% 6.87% 3.30% 7.79% 5.96% 1.82% 11.81% 13.80% 20.27% 20.57% 14.16%
0.13 0.14 0.38 -0.38 1.86 0.26 0.82 1.08 1.31 0.44 1.59 2.90 3.49
Interest 0.59 0.64 0.76 0.59 0.58 0.52 0.39 0.55 0.54 0.35 0.29 0.07 0.06
Depreciation 1.21 1.08 1.15 1.10 1.16 1.12 1.06 1.15 0.91 0.92 0.98 1.75 1.53
Profit before tax 1.10 -0.64 0.63 1.04 1.37 1.63 1.39 0.03 4.75 6.92 14.57 16.29 11.12
Tax % 47.27% 17.19% 25.40% 0.96% 7.30% 27.61% 25.90% 2,700.00% 32.63% 20.38% 27.73% 24.06%
Net Profit 0.58 -0.53 0.46 1.03 1.28 1.19 1.03 -0.77 3.20 5.51 10.52 12.36 8.40
EPS in Rs 0.50 -0.46 0.40 0.89 1.11 1.03 0.89 -0.67 2.77 4.77 9.11 10.71 7.28
Dividend Payout % 0.00% 0.00% 0.00% 56.02% 45.08% 0.00% 0.00% 0.00% 0.00% 20.94% 10.97% 9.34%
Compounded Sales Growth
10 Years: 8%
5 Years: 17%
3 Years: 21%
TTM: -16%
Compounded Profit Growth
10 Years: 46%
5 Years: 64%
3 Years: 56%
TTM: -33%
Stock Price CAGR
10 Years: 22%
5 Years: 22%
3 Years: 38%
1 Year: -44%
Return on Equity
10 Years: 13%
5 Years: 20%
3 Years: 27%
Last Year: 27%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
11.54 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 10.13 9.28 9.42 9.45 9.95 11.14 12.42 11.72 14.93 18.99 29.13 40.26 42.03
3.00 3.53 3.45 3.38 3.12 1.92 4.07 3.40 0.00 0.00 0.72 0.09 0.08
10.52 7.93 8.74 9.77 9.95 7.76 11.75 10.19 11.70 10.60 13.25 4.89 7.74
Total Liabilities 35.19 32.28 33.15 34.14 34.56 32.36 39.78 36.85 38.17 41.13 54.64 56.78 61.39
18.13 17.65 16.56 15.22 14.26 13.86 15.06 14.60 14.07 14.11 15.90 13.83 14.82
CWIP 1.02 0.40 0.03 0.03 0.03 0.13 0.20 0.60 0.83 1.84 0.04 0.44 3.09
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.10 0.75 0.12 0.00
16.04 14.23 16.56 18.89 20.27 18.37 24.52 21.65 23.27 25.08 37.95 42.39 43.48
Total Assets 35.19 32.28 33.15 34.14 34.56 32.36 39.78 36.85 38.17 41.13 54.64 56.78 61.39

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
2.54 0.56 0.79 1.76 1.11 3.23 0.56 2.14 5.27 1.42 4.28 13.33
-1.75 -0.37 0.00 -0.07 -0.28 -0.82 -2.62 -1.11 -0.50 -1.82 -1.18 -8.80
-0.82 -0.14 -0.84 -0.60 -1.52 -2.41 1.76 -1.01 -3.65 1.15 0.31 -1.86
Net Cash Flow -0.03 0.05 -0.05 1.09 -0.69 0.01 -0.30 0.02 1.11 0.76 3.42 2.66

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 88.64 65.68 70.75 76.63 99.16 66.05 79.76 67.97 66.74 39.92 48.92 40.48
Inventory Days 192.36 88.72 105.52 81.52 133.71 159.21 397.20 211.58 180.17 232.12 236.12 175.79
Days Payable 171.29 62.78 69.49 68.68 116.18 108.07 262.26 127.21 138.98 114.32 120.62 17.35
Cash Conversion Cycle 109.71 91.62 106.78 89.46 116.69 117.19 214.70 152.35 107.93 157.71 164.41 198.92
Working Capital Days 99.73 84.95 94.02 83.15 100.80 91.94 128.09 114.27 93.19 81.92 102.61 146.63
ROCE % 7.50% 0.98% 5.70% 7.30% 3.96% 8.74% 6.84% 2.23% 20.21% 30.63% 41.32% 34.91%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
64.72 64.72 8.07 62.31 62.31 62.31 62.31 62.31 54.25 54.25 54.25 54.25
0.04 0.04 0.04 0.00 0.04 0.00 0.27 0.26 0.26 0.26 0.23 0.23
0.03 0.03 0.03 0.07 0.03 0.07 0.03 0.00 0.00 0.00 0.03 0.03
35.21 35.21 91.86 37.61 37.61 37.61 37.38 37.42 45.49 45.49 45.48 45.49

* 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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