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]

  • 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

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

Loading peers table ...

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
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
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

Documents