Kilpest India Ltd

About

Kilpest is into Crop protection, Public health products and bio-products and is also a supplier to various Govt. organizations, such as FCI (Food Corporation of India), NTPC (National Thermal Power Corporation Limited), Railway, etc. The company is also exporting its products to Bangladesh and Afghanistan.
The company entered into molecular diagnostics with 3B BlackBio BiotechIndia Ltd. [1][2]

Key Points

3B BlackBio Biotech India Limited (Subsidiary) (50% of Consolidated revenue and 90% of profits)
is engaged in the design, development, manufacturing, and commercialization of PCR-based Molecular Diagnostic kits, PCR Enzymes & PCR Reagents. [1]

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  • Market Cap 333 Cr.
  • Current Price 444
  • High / Low 768 / 269
  • Stock P/E 7.98
  • Book Value 191
  • Dividend Yield 0.23 %
  • ROCE 179 %
  • ROE 139 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 221.79% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 97.67%
  • Debtor days have improved from 199.24 to 56.00 days.

Cons

  • Promoter holding is low: 38.35%
  • Promoter holding has decreased over last 3 years: -5.21%
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
5.20 6.12 5.63 9.64 6.87 6.74 52.89 112.28 42.69 18.88 32.67 15.22
3.53 3.77 3.43 7.24 4.53 4.36 16.45 32.38 17.72 10.37 14.46 9.22
Operating Profit 1.67 2.35 2.20 2.40 2.34 2.38 36.44 79.90 24.97 8.51 18.21 6.00
OPM % 32.12% 38.40% 39.08% 24.90% 34.06% 35.31% 68.90% 71.16% 58.49% 45.07% 55.74% 39.42%
Other Income 0.34 -0.06 0.01 0.56 0.05 0.98 0.04 0.08 1.58 1.19 1.55 1.94
Interest 0.10 0.19 0.09 0.04 0.05 0.15 0.07 0.08 0.03 0.04 0.03 0.06
Depreciation 0.19 0.12 0.15 0.15 0.15 0.09 0.15 0.13 0.23 0.11 0.15 0.18
Profit before tax 1.72 1.98 1.97 2.77 2.19 3.12 36.26 79.77 26.29 9.55 19.58 7.70
Tax % 7.56% 37.37% 27.92% 19.13% 20.55% 26.92% 25.01% 25.12% 25.14% 25.55% 23.70% 23.64%
Net Profit 1.52 1.24 1.24 2.02 1.51 2.01 23.80 52.38 17.25 6.19 13.16 5.14
EPS in Rs 2.37 1.94 1.65 2.69 2.01 2.68 31.70 69.76 22.98 8.24 17.53 6.85

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
21 21 20 22 19 17 16 23 23 29 227 109
20 20 19 21 18 16 14 18 16 20 77 52
Operating Profit 2 1 1 1 1 2 3 5 7 9 150 58
OPM % 8% 5% 6% 6% 7% 9% 16% 23% 31% 32% 66% 53%
Other Income 0 0 0 0 0 0 0 0 1 2 3 6
Interest 0 1 1 1 1 1 1 1 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 1 1 1 1
Profit before tax 1 0 1 0 0 0 1 5 7 10 152 63
Tax % 33% 104% 34% 14% 23% 23% 19% 24% 25% 23% 25%
Net Profit 1 -0 0 0 0 0 1 3 5 8 114 42
EPS in Rs -0.02 0.62 0.59 0.36 0.51 1.76 5.35 8.18 10.24 151.66 55.60
Dividend Payout % 81% -0% -0% -0% -0% -0% 17% 9% 6% 7% 6%
Compounded Sales Growth
10 Years: 27%
5 Years: 67%
3 Years: 114%
TTM: -39%
Compounded Profit Growth
10 Years: 65%
5 Years: 222%
3 Years: 221%
TTM: -48%
Stock Price CAGR
10 Years: 39%
5 Years: 86%
3 Years: 75%
1 Year: 24%
Return on Equity
10 Years: 65%
5 Years: 85%
3 Years: 98%
Last Year: 139%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
6 6 6 6 6 6 6 6 6 7 7 7
Reserves 2 3 3 4 4 4 5 12 16 25 125 136
Borrowings 3 6 6 7 8 8 9 6 6 4 2 1
7 7 7 7 7 6 6 6 8 9 59 69
Total Liabilities 19 22 23 24 25 24 26 30 36 45 194 214
4 4 4 4 4 3 3 4 4 4 5 6
CWIP -0 -0 -0 -0 -0 -0 0 0 0 0 0 0
Investments -0 -0 -0 -0 -0 -0 -0 -0 -0 1 59 81
15 18 19 20 21 21 22 26 32 40 130 127
Total Assets 19 22 23 24 25 24 26 30 36 45 194 214

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-0 0 -1 0 0 1 1 2 4 7 98
-1 -1 0 -0 -0 -0 -0 -1 -1 -1 -70
1 1 -0 0 -0 -1 -0 0 -1 1 -2
Net Cash Flow -0 1 -1 0 -0 0 -0 1 2 7 26

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 172 180 220 213 262 283 321 259 290 252 56
Inventory Days 108 109 149 120 145 143 175
Days Payable 155 165 220 189 218 203 186
Cash Conversion Cycle 125 124 149 144 188 223 310 259 290 252 56
Working Capital Days 142 167 214 218 274 311 377 308 351 302 67
ROCE % 7% 8% 7% 7% 7% 13% 24% 28% 32% 179%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
43.87 43.87 37.44 37.87 37.88 38.19 38.19 38.35 38.35 38.35 38.35 38.35
0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.93 1.12 1.10 1.47 0.54
0.00 0.00 0.00 0.00 0.10 0.00 0.00 0.00 0.00 0.00 0.09 0.08
56.13 56.13 62.56 62.13 62.02 61.81 61.81 58.72 60.53 60.55 60.09 61.03

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