Bhaskar Agrochemicals Ltd

About

Bhaskar Agrochemicals is engaged in manufacturing mainly formulation of Agro Chemicals.(Source : 201903 Annual Report Page No:47)

  • Market Cap 23.9 Cr.
  • Current Price 45.9
  • High / Low 55.2 / 19.0
  • Stock P/E 20.8
  • Book Value 22.6
  • Dividend Yield 0.00 %
  • ROCE 10.6 %
  • ROE 7.25 %
  • Face Value 10.0

Pros

  • Debtor days have improved from 25.89 to 20.02 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 6.71% for last 3 years.
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Quarterly Results

Figures in Rs. Crores

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
13.78 3.95 7.04 25.07 16.27 3.45 8.77 31.61 12.73 10.71 10.33 27.50
13.19 4.36 7.00 23.25 14.96 3.66 8.59 29.43 12.19 10.40 9.69 24.85
Operating Profit 0.59 -0.41 0.04 1.82 1.31 -0.21 0.18 2.18 0.54 0.31 0.64 2.65
OPM % 4.28% -10.38% 0.57% 7.26% 8.05% -6.09% 2.05% 6.90% 4.24% 2.89% 6.20% 9.64%
Other Income 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest 0.36 0.33 0.32 0.37 0.32 0.37 0.28 0.35 0.32 0.39 0.54 0.67
Depreciation 0.21 0.23 0.24 0.25 0.24 0.25 0.24 0.26 0.26 0.26 0.27 0.27
Profit before tax 0.02 -0.97 -0.52 1.20 0.76 -0.83 -0.34 1.57 -0.04 -0.34 -0.17 1.71
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Profit 0.02 -0.97 -0.52 1.20 0.76 -0.83 -0.34 1.57 -0.04 -0.35 -0.17 1.71
EPS in Rs 0.04 -1.86 -1.00 2.30 1.46 -1.59 -0.65 3.01 -0.08 -0.67 -0.33 3.28

Profit & Loss

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
27.47 26.49 27.82 27.80 51.80 51.67 51.84 63.82 61.27
26.02 25.29 25.78 25.64 49.89 48.79 48.87 60.61 57.13
Operating Profit 1.45 1.20 2.04 2.16 1.91 2.88 2.97 3.21 4.14
OPM % 5.28% 4.53% 7.33% 7.77% 3.69% 5.57% 5.73% 5.03% 6.76%
Other Income 0.18 0.12 0.02 -0.06 0.00 0.00 0.01 0.00 0.00
Interest 0.03 0.03 0.16 0.80 0.96 1.39 1.38 1.34 1.92
Depreciation 0.22 0.24 0.31 0.45 0.56 0.77 0.99 1.02 1.06
Profit before tax 1.38 1.05 1.59 0.85 0.39 0.72 0.61 0.85 1.16
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Profit 1.37 1.05 1.58 0.86 0.39 0.72 0.61 0.85 1.15
EPS in Rs 2.63 2.02 3.03 1.65 0.75 1.38 1.17 1.63 2.20
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: 18%
3 Years: 7%
TTM: 2%
Compounded Profit Growth
10 Years: %
5 Years: -12%
3 Years: 30%
TTM: -1%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 23%
1 Year: 131%
Return on Equity
10 Years: %
5 Years: 7%
3 Years: 7%
Last Year: 7%

Balance Sheet

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
8.45 8.45 8.45 5.20 6.71 6.87 7.03 7.22 5.20
Reserves -4.50 -3.46 -1.88 2.42 2.79 3.54 4.15 5.04 6.60
Borrowings 3.68 2.72 6.72 8.04 10.49 11.22 9.43 8.65 15.28
8.38 9.37 8.36 5.40 8.46 10.67 10.81 12.68 44.61
Total Liabilities 12.76 13.83 18.40 21.06 26.94 30.63 29.59 31.57 71.69
7.96 8.98 8.96 13.67 14.14 18.84 18.45 18.00 17.65
CWIP 0.26 0.00 3.78 1.10 3.52 0.00 0.00 0.22 0.24
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4.54 4.85 5.66 6.29 9.28 11.79 11.14 13.35 53.80
Total Assets 12.76 13.83 18.40 21.06 26.94 30.63 29.59 31.57 71.69

Cash Flows

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1.64 0.81 1.33 0.64 2.43 3.44 2.47
-1.04 -4.22 -2.03 -3.71 -1.95 -0.60 -0.79
-0.59 3.41 0.72 3.05 -0.47 -2.84 -1.69
Net Cash Flow 0.01 -0.01 0.02 -0.02 0.01 0.00 0.00

Ratios

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 2.52 6.61 10.23 7.22 8.24 19.57 38.09 20.02
Inventory Days 66.36 73.43 73.43 96.94 65.11 75.35 48.06 66.42
Days Payable 50.71 65.03 34.37 39.37 28.14 33.89 29.66 71.05
Cash Conversion Cycle 18.18 15.01 49.30 64.79 45.22 61.03 56.49 15.39
Working Capital Days -7.84 -15.98 1.97 12.60 15.71 20.34 15.70 15.67
ROCE % 14.08% 16.67% 11.95% 7.57% 10.14% 9.42% 10.55%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
62.20 62.20 62.20 62.20 62.20 62.20 62.20 62.20 62.20 62.20 62.20 62.20
37.80 37.79 37.79 37.79 37.79 37.79 37.79 37.79 37.79 37.79 37.79 37.79

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