Nikhil Adhesives Ltd

₹ 124 -1.39%
02 Feb 2:29 p.m.
About

Incorporated in 1982, Nikhil Adhesives is a Mumbai based multi-product company who is into manufacturing, selling and exporting various types of adhesives, emulsions that are used for various applications. It is also trading in Chemicals used in emulsions and adhesive industry. [1]

Key Points

Products
Nikhil Adhesives Limited is broadly into manufacturing and selling products under two categories viz:- Industrial Products and consumer products. Within Industrial products it has Paint Emulsions, Textile Emulsions and Construction chemicals. It sells adhesives under the consumer products segment. Additionally company is into trading of monomers, Solvents & Chemicals.[1]

  • Market Cap 569 Cr.
  • Current Price 124
  • High / Low 225 / 60.4
  • Stock P/E 25.4
  • Book Value 20.7
  • Dividend Yield 0.17 %
  • ROCE 39.4 %
  • ROE 34.5 %
  • Face Value 1.00

Pros

  • Company has delivered good profit growth of 65.4% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.4%
  • Debtor days have improved from 86.4 to 64.9 days.

Cons

* 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

Standalone Figures in Rs. Crores / View Consolidated

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
100.42 100.38 115.38 29.59 106.41 142.86 212.78 175.89 198.67 221.21 217.98 224.28 196.69
95.54 95.01 111.38 30.39 99.93 131.16 199.18 165.17 186.92 211.14 207.08 213.69 188.58
Operating Profit 4.88 5.37 4.00 -0.80 6.48 11.70 13.60 10.72 11.75 10.07 10.90 10.59 8.11
OPM % 4.86% 5.35% 3.47% -2.70% 6.09% 8.19% 6.39% 6.09% 5.91% 4.55% 5.00% 4.72% 4.12%
0.45 0.01 0.02 0.00 0.02 0.03 0.24 0.07 0.10 0.15 0.25 0.14 0.15
Interest 2.28 1.83 1.47 1.61 1.53 1.65 1.85 1.55 1.37 1.40 1.58 1.24 1.45
Depreciation 0.61 0.75 0.81 0.79 0.87 0.88 0.92 0.97 0.99 1.06 1.11 1.11 1.16
Profit before tax 2.44 2.80 1.74 -3.20 4.10 9.20 11.07 8.27 9.49 7.76 8.46 8.38 5.65
Tax % 6.56% 36.43% 12.64% 26.25% 25.37% 25.87% 26.65% 24.79% 25.29% 25.13% 27.54% 25.06% 25.13%
Net Profit 2.29 1.78 1.52 -2.35 3.06 6.82 8.13 6.22 7.10 5.82 6.13 6.28 4.23
EPS in Rs 0.50 0.39 0.33 -0.51 0.67 1.49 1.77 1.36 1.55 1.27 1.34 1.37 0.92
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
130 165 181 232 251 266 260 330 446 422 491 814 860
124 157 172 220 242 255 248 317 430 403 460 770 820
Operating Profit 6 8 9 13 8 11 11 13 17 19 31 43 40
OPM % 5% 5% 5% 5% 3% 4% 4% 4% 4% 5% 6% 5% 5%
2 -3 -1 -4 1 0 0 -0 1 1 0 1 1
Interest 3 2 4 6 6 8 7 7 8 8 7 6 6
Depreciation 1 1 2 2 2 2 1 2 2 3 3 4 4
Profit before tax 4 1 1 0 1 2 3 4 7 9 21 34 30
Tax % 34% 33% 62% 30% 30% 12% 33% 34% 30% 23% 26% 26%
Net Profit 2 1 1 0 0 2 2 3 5 7 16 25 22
EPS in Rs 0.63 0.20 0.15 0.07 0.10 0.41 0.52 0.62 1.14 1.53 3.41 5.50 4.90
Dividend Payout % 19% 41% 55% 0% 0% 0% 0% 16% 9% 7% 4% 4%
Compounded Sales Growth
10 Years: 17%
5 Years: 26%
3 Years: 22%
TTM: 18%
Compounded Profit Growth
10 Years: 24%
5 Years: 65%
3 Years: 69%
TTM: -21%
Stock Price CAGR
10 Years: 43%
5 Years: 41%
3 Years: 120%
1 Year: 56%
Return on Equity
10 Years: 22%
5 Years: 24%
3 Years: 28%
Last Year: 35%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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
4 4 4 4 4 4 4 5 5 5 5 5 5
Reserves 9 10 10 10 10 12 14 30 35 41 56 81 91
16 27 32 44 36 35 46 32 34 34 28 28 25
32 40 44 58 61 68 67 89 113 111 202 203 202
Total Liabilities 61 81 90 116 112 119 130 157 186 191 291 316 322
10 9 22 25 25 24 23 30 37 44 54 64 71
CWIP 0 11 3 1 1 0 1 0 0 6 0 1 2
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
51 61 65 91 86 94 106 127 149 141 236 250 249
Total Assets 61 81 90 116 112 119 130 157 186 191 291 316 322

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
10 2 8 -2 16 13 -4 11 16 21 23 25
-2 -10 -9 -3 -0 -2 -1 -6 -10 -12 -7 -15
-7 8 1 5 -15 -9 4 -5 -7 -9 -15 -6
Net Cash Flow 1 -0 -0 -0 0 1 -0 -0 -0 -1 1 3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 67 76 64 75 62 61 91 86 79 82 112 65
Inventory Days 65 40 42 45 44 41 36 45 39 40 66 41
Days Payable 88 88 88 95 93 95 98 106 95 94 148 87
Cash Conversion Cycle 44 27 18 26 13 7 28 25 23 28 31 19
Working Capital Days 44 34 26 36 27 24 45 36 24 21 22 18
ROCE % 19% 21% 17% 21% 13% 20% 17% 18% 22% 22% 33% 39%

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
54.44 54.44 54.44 54.44 54.44 54.44 54.44 54.44 54.44 54.44 54.44 54.44
0.00 0.00 0.00 1.41 0.00 0.00 0.00 1.39 0.00 0.00 0.00 0.00
45.56 45.56 45.56 44.16 45.56 45.56 45.56 44.17 45.56 45.56 45.56 45.58

* 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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