Vijay Solvex Ltd

Vijay Solvex Ltd

₹ 909 -0.98%
21 Jun - close price
About

Incorporated in 1987, Vijay Solvex Ltd is a manufacturer of Edible Oil and vanaspati ghee and also deals in ceramics products and wind power[1]

Key Points

Business Overview:[1][2]
VSL is the flagship company of Edible Oil Division of Data Group of Companies. It does processing of crude and refined edible oil, Vanaspati Ghee and mustard oil cake from mustard seeds and sells De-oiled cake (DOC); a by-product produced through further processing of mustard oil cake. It also sells refined blended edible oils. Apart from this, company deals in Bone China Crockery, Ceramic Gift items, High tension Porcelain Insulators and Wind Power generation

  • Market Cap 291 Cr.
  • Current Price 909
  • High / Low 1,080 / 750
  • Stock P/E 124
  • Book Value 887
  • Dividend Yield 0.00 %
  • ROCE 1.46 %
  • ROE 0.83 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 1.02 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 8.33% over past five years.
  • Company has a low return on equity of 8.98% over last 3 years.
  • Earnings include an other income of Rs.2.70 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: Edible Oil Industry: Solvent Extraction

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
556.45 653.96 627.22 614.36 819.99 657.64 585.60 566.17 620.72 435.33 475.76 513.18 404.97
518.89 636.55 606.31 609.98 791.02 649.65 578.17 564.84 616.57 433.84 475.14 518.33 397.60
Operating Profit 37.56 17.41 20.91 4.38 28.97 7.99 7.43 1.33 4.15 1.49 0.62 -5.15 7.37
OPM % 6.75% 2.66% 3.33% 0.71% 3.53% 1.21% 1.27% 0.23% 0.67% 0.34% 0.13% -1.00% 1.82%
1.16 0.03 5.12 1.57 1.20 0.28 5.34 0.22 0.30 1.05 0.95 0.01 0.69
Interest 1.30 0.59 1.18 0.38 2.17 2.46 1.92 -0.02 -0.13 0.00 0.63 0.38 0.00
Depreciation 0.63 0.56 0.59 0.58 0.60 0.61 0.62 0.63 0.63 0.56 0.63 0.67 0.69
Profit before tax 36.79 16.29 24.26 4.99 27.40 5.20 10.23 0.94 3.95 1.98 0.31 -6.19 7.37
Tax % 26.58% 24.98% 24.94% 28.86% 26.39% 26.15% 26.10% 38.30% 22.78% 27.78% 45.16% 3.88% 9.36%
27.01 12.22 18.21 3.55 20.16 3.84 7.56 0.58 3.05 1.44 0.18 -5.95 6.69
EPS in Rs 84.34 38.16 56.86 11.08 62.95 11.99 23.61 1.81 9.52 4.50 0.56 -18.58 20.89
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
957 1,032 768 662 685 879 1,226 1,448 2,070 2,716 2,430 1,829
943 1,014 755 648 669 859 1,200 1,412 1,991 2,644 2,409 1,825
Operating Profit 14 18 13 14 16 20 26 36 78 72 21 4
OPM % 1% 2% 2% 2% 2% 2% 2% 2% 4% 3% 1% 0%
1 0 -0 0 1 0 2 2 6 8 6 3
Interest 7 7 6 5 2 3 7 8 -4 4 4 1
Depreciation 2 2 2 1 1 2 2 2 2 2 2 3
Profit before tax 6 8 6 8 14 16 19 27 87 73 20 3
Tax % 24% 25% 20% 30% 34% 36% 34% 25% 26% 26% 26% 33%
4 6 5 5 9 10 13 21 64 54 15 2
EPS in Rs 13.99 19.92 14.49 16.86 27.95 32.04 39.75 64.07 200.65 169.05 46.93 7.34
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 6%
5 Years: 8%
3 Years: -4%
TTM: -25%
Compounded Profit Growth
10 Years: -10%
5 Years: -29%
3 Years: -67%
TTM: -84%
Stock Price CAGR
10 Years: %
5 Years: 49%
3 Years: -21%
1 Year: -13%
Return on Equity
10 Years: 12%
5 Years: 14%
3 Years: 9%
Last Year: 1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 3 3 3 3 3 3 3 3 3 3 3 3
Reserves 67 73 77 83 100 111 123 144 209 263 278 281
97 97 60 64 61 97 80 85 116 148 38 9
44 44 24 23 22 23 28 42 53 43 47 43
Total Liabilities 211 217 164 173 186 233 235 274 381 457 366 336
18 15 15 15 16 16 18 20 22 24 22 35
CWIP 10 10 10 10 10 10 10 11 10 10 15 10
Investments 18 18 18 18 46 46 48 49 53 58 65 64
166 173 121 130 115 161 159 193 297 366 263 227
Total Assets 211 217 164 173 186 233 235 274 381 457 366 336

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
15 7 44 4 23 -38 53 46 -22 41 71 31
4 4 1 -0 -18 0 -14 -6 -58 74 -54 1
-11 -12 -46 -2 -5 32 -25 -5 29 28 -113 -32
Net Cash Flow 8 -1 -1 1 -0 -5 14 35 -51 143 -97 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 15 13 14 14 15 21 14 9 7 6 6 4
Inventory Days 24 29 17 40 28 33 16 9 19 19 12 15
Days Payable 15 14 9 9 7 6 5 8 7 4 4 5
Cash Conversion Cycle 24 28 22 45 36 49 25 10 19 21 14 14
Working Capital Days 43 42 42 53 45 57 30 21 29 23 17 18
ROCE % 8% 9% 8% 9% 10% 10% 12% 16% 29% 21% 7%

Shareholding Pattern

Numbers in percentages

11 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
67.95% 66.16% 66.16% 66.16% 66.16% 66.16% 66.47% 66.79% 67.21% 67.65% 68.19% 68.23%
0.05% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00%
32.00% 33.81% 33.81% 33.81% 33.81% 33.82% 33.51% 33.22% 32.80% 32.36% 31.83% 31.78%
No. of Shareholders 1,3364,8824,8184,9825,1335,5445,9845,8925,5965,5155,3354,914

* 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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