Standard Surfactants Ltd

₹ 59.9 1.58%

21 May 10:26 a.m.

About

Incorporated in 1989, Standard Surfactants Ltd does manufacturing of Surface Active Agents and is a Consignment Stockiest of Indian Oil Corporation Limited

Key Points

Product Profile:^[1]^[2]
Company is into manufacturing of Detergents and Surfactants and trading of high density Polyethylene, Linear Low Density Polyethylene (LDP), Polypropylene (PP), Paraffin wax and other petroleum products
a) LABSA 96%
b) Agdet 4060
c) Agdet 4061
d) Agdet 6041

Website BSE

Market Cap ₹ 49.5 Cr.
Current Price ₹ 59.9
High / Low ₹ 92.4 / 51.0
Stock P/E 127
Book Value ₹ 20.0
Dividend Yield 0.00 %
ROCE 8.14 %
ROE 6.12 %
Face Value ₹ 10.0

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Pros

Debtor days have improved from 82.8 to 66.0 days.
Company's working capital requirements have reduced from 90.4 days to 65.3 days

Cons

Stock is trading at 2.95 times its book value
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 5.18% over last 3 years.
Company might be capitalizing the interest cost
Earnings include an other income of Rs.1.56 Cr.

* 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: FMCG Industry: Detergents / Intermediates

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019
	19.15	10.70	10.39	14.99	21.42	30.31	38.04	29.36	21.30	28.12	23.85	21.48	19.92
	18.51	9.89	9.92	14.66	20.97	29.86	36.96	28.66	20.95	27.98	23.11	20.96	19.89
Operating Profit	0.64	0.81	0.47	0.33	0.45	0.45	1.08	0.70	0.35	0.14	0.74	0.52	0.03
OPM %	3.34%	7.57%	4.52%	2.20%	2.10%	1.48%	2.84%	2.38%	1.64%	0.50%	3.10%	2.42%	0.15%
	0.00	0.00	0.17	0.30	0.07	0.15	0.16	0.21	0.31	0.16	0.35	0.34	0.71
Interest	0.33	0.36	0.39	0.54	0.35	0.01	0.45	0.35	0.49	0.14	0.51	0.54	0.49
Depreciation	0.15	0.16	0.17	0.03	0.11	0.13	0.12	0.11	0.11	0.11	0.11	0.11	0.10
Profit before tax	0.16	0.29	0.08	0.06	0.06	0.46	0.67	0.45	0.06	0.05	0.47	0.21	0.15
Tax %	0.00%	0.00%	0.00%	366.67%	33.33%	-28.26%	26.87%	26.67%	33.33%	160.00%	29.79%	-66.67%	26.67%
	0.17	0.30	-0.07	-0.16	0.04	0.60	0.50	0.32	0.04	-0.03	0.34	0.35	0.11
EPS in Rs	0.24	0.42	-0.10	-0.22	0.06	0.84	0.70	0.45	0.06	-0.04	0.48	0.49	0.15
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	TTM
	52.95	43.81	54.59	86.97	117.23	93.37
	49.98	41.82	52.73	84.48	114.52	91.94
Operating Profit	2.97	1.99	1.86	2.49	2.71	1.43
OPM %	5.61%	4.54%	3.41%	2.86%	2.31%	1.53%
	0.17	0.79	0.67	0.19	0.27	1.56
Interest	1.59	1.50	1.62	1.21	1.29	1.68
Depreciation	0.86	0.64	0.50	0.47	0.45	0.43
Profit before tax	0.69	0.64	0.41	1.00	1.24	0.88
Tax %	33.33%	32.81%	53.66%	3.00%	32.26%
	0.47	0.44	0.19	0.97	0.83	0.77
EPS in Rs	0.66	0.62	0.27	1.36	1.16	1.08
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	39%
TTM:	-22%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	25%
TTM:	-73%

Stock Price CAGR
10 Years:	%
5 Years:	31%
3 Years:	18%
1 Year:	-4%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	5%
Last Year:	6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Equity Capital	7.11	7.11	7.11	7.11	7.11
Reserves	5.02	5.46	5.40	6.36	7.19
	7.95	10.19	15.05	17.00	17.88
	7.86	5.86	4.11	7.58	8.63
Total Liabilities	27.94	28.62	31.67	38.05	40.81
	8.43	7.55	6.92	6.71	6.65
CWIP	0.00	0.00	0.00	0.00	0.00
Investments	0.67	0.67	0.43	0.43	0.72
	18.84	20.40	24.32	30.91	33.44
Total Assets	27.94	28.62	31.67	38.05	40.81

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017
	4.56	3.21	-0.02
	-0.01	0.03	0.54
	-3.73	-3.06	-0.77
Net Cash Flow	0.82	0.18	-0.25

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Debtor Days	47.01	78.23	95.35	87.08	66.01
Inventory Days	22.50	35.32	19.23	20.66	17.22
Days Payable	16.34	27.26	4.25	24.69	22.53
Cash Conversion Cycle	53.17	86.29	110.33	83.05	60.70
Working Capital Days	69.90	109.72	118.41	87.38	65.29
ROCE %		9.99%	8.43%	7.62%	8.14%

Shareholding Pattern

Numbers in percentages

6 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	57.26%	57.26%	57.26%	57.26%	57.26%	57.26%	57.26%	60.14%	63.02%	63.02%	63.02%	62.89%
	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.11%	0.11%	0.11%	0.11%	0.11%
	42.62%	42.62%	42.62%	42.62%	42.62%	42.61%	42.62%	39.74%	36.88%	36.87%	36.87%	37.01%
No. of Shareholders	14,549	15,571	15,522	15,432	15,367	15,296	15,181	15,104	15,030	14,956	14,794	14,681

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	57.66%	58.23%	58.23%	57.11%	56.98%	57.20%	57.26%	60.14%	62.89%
	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.11%	0.11%
	42.22%	41.65%	41.65%	42.77%	42.90%	42.68%	42.62%	39.74%	37.01%
No. of Shareholders	14,625	14,618	14,608	14,409	14,332	14,355	15,432	15,104	14,681

* 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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Standard Surfactants Ltd

Standard Surfactants Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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