Vijay Solvex Ltd

₹ 1,277 0.56%

30 Sep - close price

About

Vijay Solvex Limited (VSL) was incorporated in 1987 by Mr. Niranjan Lal Data and his family. VSL is engaged in processing crude and refined edible oil, Vanaspati Ghee, and mustard oil cake from mustard seeds. The company sells De-oiled cake (DOC); a by-product produced through further processing of mustard oil cake. The company also sells refined blended edible oils. VSL is also engaged in wind power generation, manufacturing of fine bone china crockery, and High Tension (HT) porcelain insulators. ^[1]

Key Points

Products and Brands
Edible Oil Division-leading regional player in edible oil and Vanaspati ghee under the brand names of ‘Scooter’, ‘Chancellor’, ‘Oligo’, ‘Shiv’, ‘Sikandar’, ‘Neeraj’ and ‘Hanuman’.

Ceramic Division- fine bone china tableware, Decorative Ceramic Items, Grey Insulators, and H.T. Porcelain Insulators ^[1]

Website BSE

Market Cap ₹ 409 Cr.
Current Price ₹ 1,277
High / Low ₹ 3,372 / 1,260
Stock P/E 8.94
Book Value ₹ 832
Dividend Yield 0.00 %
ROCE 20.8 %
ROE 22.6 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 43.1% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company might be capitalizing the interest cost

* 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: Edible Oil Industry: Solvent Extraction

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022
	353.64	338.31	405.41	350.43	454.71	465.02	593.49	556.45	653.96	627.22	614.36	819.99	657.64
	346.24	332.87	396.38	336.74	444.95	453.22	574.16	518.89	636.55	606.31	609.98	791.02	649.65
Operating Profit	7.40	5.44	9.03	13.69	9.76	11.80	19.33	37.56	17.41	20.91	4.38	28.97	7.99
OPM %	2.09%	1.61%	2.23%	3.91%	2.15%	2.54%	3.26%	6.75%	2.66%	3.33%	0.71%	3.53%	1.21%
	0.01	1.19	0.61	0.05	1.98	0.40	1.88	1.16	0.03	5.12	1.57	1.20	0.28
Interest	2.44	0.68	0.74	4.19	-3.21	-2.13	-0.79	1.30	0.59	1.18	0.38	2.17	2.46
Depreciation	0.40	0.39	0.40	0.87	0.54	0.50	0.52	0.63	0.56	0.59	0.58	0.60	0.61
Profit before tax	4.57	5.56	8.50	8.68	14.41	13.83	21.48	36.79	16.29	24.26	4.99	27.40	5.20
Tax %	35.67%	12.95%	25.18%	26.61%	24.91%	25.23%	25.19%	26.58%	24.98%	24.94%	28.86%	26.39%	26.15%
Net Profit	2.95	4.84	6.37	6.37	10.82	10.34	16.08	27.01	12.22	18.21	3.55	20.16	3.84
EPS in Rs	9.21	15.11	19.89	19.89	33.79	32.29	50.21	84.34	38.16	56.86	11.08	62.95	11.99
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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
	606	759	957	1,032	768	662	685	879	1,226	1,448	2,070	2,716	2,719
	595	747	943	1,014	755	648	669	859	1,200	1,412	1,991	2,644	2,657
Operating Profit	11	13	14	18	13	14	16	20	26	36	78	72	62
OPM %	2%	2%	1%	2%	2%	2%	2%	2%	2%	2%	4%	3%	2%
	1	1	1	0	-0	0	1	0	2	2	6	8	8
Interest	4	8	7	7	6	5	2	3	7	8	-4	4	6
Depreciation	2	2	2	2	2	1	1	2	2	2	2	2	2
Profit before tax	5	3	6	8	6	8	14	16	19	27	87	73	62
Tax %	25%	14%	24%	25%	20%	30%	34%	36%	34%	25%	26%	26%
Net Profit	4	2	4	6	5	5	9	10	13	21	64	54	46
EPS in Rs	12.71	7.65	13.99	19.92	14.49	16.86	27.95	32.04	39.75	64.07	200.65	169.05	142.88
Dividend Payout %	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%

Compounded Sales Growth
10 Years:	14%
5 Years:	32%
3 Years:	30%
TTM:	20%

Compounded Profit Growth
10 Years:	36%
5 Years:	43%
3 Years:	62%
TTM:	-30%

Stock Price CAGR
10 Years:	%
5 Years:	37%
3 Years:	104%
1 Year:	-52%

Return on Equity
10 Years:	16%
5 Years:	21%
3 Years:	25%
Last Year:	23%

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
	3	3	3	3	3	3	3	3	3	3	3	3
Reserves	60	62	67	73	77	83	100	111	123	144	209	263
	98	97	97	97	60	64	61	97	80	85	116	148
	14	36	44	44	24	23	22	23	28	42	53	43
Total Liabilities	175	198	211	217	164	173	186	233	235	274	381	457
	21	20	18	15	15	15	16	16	18	20	22	24
CWIP	9	10	10	10	10	10	10	10	10	11	10	10
Investments	18	18	18	18	18	18	46	46	48	49	53	58
	127	151	166	173	121	130	115	161	159	193	297	366
Total Assets	175	198	211	217	164	173	186	233	235	274	381	457

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
	-18	12	15	7	44	4	23	-38	53	46	-22	41
	0	3	4	4	1	-0	-18	0	-14	-6	-58	74
	9	-13	-11	-12	-46	-2	-5	32	-25	-5	29	28
Net Cash Flow	-9	2	8	-1	-1	1	-0	-5	14	35	-51	143

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	20	17	15	13	14	14	15	21	14	9	7	6
Inventory Days	19	24	24	29	17	40	28	33	16	9	19	19
Days Payable	3	16	15	14	9	9	7	6	5	8	7	4
Cash Conversion Cycle	36	26	24	28	22	45	36	49	25	10	19	21
Working Capital Days	68	55	43	42	42	53	45	57	30	21	29	23
ROCE %	6%	7%	8%	9%	8%	9%	10%	10%	12%	16%	29%	21%

Shareholding Pattern

Numbers in percentages

Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022
67.95	67.95	67.95	67.95	67.95	67.95	67.95	67.95	66.16	66.16	66.16	66.16
0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.05	0.03	0.03	0.03	0.03
32.05	32.05	32.05	32.05	32.05	32.05	32.05	32.00	33.81	33.81	33.81	33.81

Vijay Solvex Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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