Bengal & Assam Company Ltd

₹ 8,312 -0.11%

25 Apr 2:26 p.m.

About

Bengal & Assam Company Limited is a Core Investment Company registered with the RBI. Its objective is to hold investments in its subsidiaries, other group companies, money market mutual funds etc., as prescribed by the RBI. ^[1]

Key Points

Holding Company
BACL majorly holds investments in almost all the group companies of the JK group, which was founded in the year 1918. BACL held ~97% of its total assets in the form of investments in equity share and preference share capital, subsidiaries and group companies, listed companies, and unlisted companies as of FY23. The company has a notable stake in prominent group companies, including JK Lakshmi Cement Ltd, JK Tyre & Industries Ltd., JK Fenner (India) Ltd., JK Paper Ltd, JK Agri Genetics Ltd., Umang Dairies Ltd., and Divyashree Company Ltd. ^[1]

Website BSE

Market Cap ₹ 9,390 Cr.
Current Price ₹ 8,312
High / Low ₹ 10,389 / 3,503
Stock P/E 80.7
Book Value ₹ 920
Dividend Yield 0.30 %
ROCE 12.3 %
ROE 11.0 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company has been maintaining a healthy dividend payout of 29.1%
Company's median sales growth is 25.8% of last 10 years
Company's working capital requirements have reduced from 41.3 days to 11.6 days

Cons

Stock is trading at 9.37 times its book value
Company has a low return on equity of 7.16% over last 3 years.

* 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: Finance Industry: Finance & Investments

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	2.85	26.10	2.53	85.59	4.02	10.72	1.66	97.26	2.17	42.94	2.18	85.35	2.22
	1.29	2.76	1.09	2.38	1.40	2.19	1.19	3.38	1.48	2.33	1.34	3.82	2.15
Operating Profit	1.56	23.34	1.44	83.21	2.62	8.53	0.47	93.88	0.69	40.61	0.84	81.53	0.07
OPM %	54.74%	89.43%	56.92%	97.22%	65.17%	79.57%	28.31%	96.52%	31.80%	94.57%	38.53%	95.52%	3.15%
	1.77	1.88	1.81	1.81	2.07	1.83	1.78	2.78	1.89	22.77	1.66	1.69	1.69
Interest	8.39	8.11	7.94	7.89	5.70	4.90	4.73	4.43	3.74	3.68	3.22	2.99	2.24
Depreciation	0.20	0.23	0.16	0.16	0.17	0.16	0.15	0.15	0.17	0.13	0.13	0.13	0.13
Profit before tax	-5.26	16.88	-4.85	76.97	-1.18	5.30	-2.63	92.08	-1.33	59.57	-0.85	80.10	-0.61
Tax %	-9.51%	2.90%	-12.78%	19.63%	131.36%	14.72%	-16.35%	17.70%	-42.86%	14.32%	-10.59%	16.39%	-22.95%
	-5.76	16.39	-5.48	61.86	0.38	4.52	-3.06	75.78	-1.90	51.03	-0.94	66.97	-0.75
EPS in Rs	-5.10	14.51	-4.85	54.76	0.34	4.00	-2.71	67.08	-1.68	45.17	-0.83	59.28	-0.66
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	23	25	20	33	42	43	42	69	176	57	103	144	133
	2	1	36	3	3	4	5	5	9	6	7	8	10
Operating Profit	21	24	-16	30	39	40	37	64	167	51	96	136	123
OPM %	93%	96%	-79%	90%	92%	92%	88%	93%	95%	89%	93%	94%	93%
	6	5	77	5	5	6	6	6	7	7	7	29	28
Interest	10	15	13	13	19	23	14	31	43	34	26	17	12
Depreciation	0	0	0	0	0	0	0	0	1	1	1	1	1
Profit before tax	16	13	47	22	24	22	28	38	130	24	76	148	138
Tax %	8%	6%	17%	5%	4%	-3%	-1%	-1%	4%	1%	20%	17%
	15	13	39	21	23	23	29	39	125	23	61	122	116
EPS in Rs	16.87	14.49	45.13	23.68	26.46	26.53	32.89	44.83	110.97	20.59	54.25	107.87	102.96
Dividend Payout %	24%	28%	11%	30%	38%	38%	30%	21%	14%	36%	28%	23%

Compounded Sales Growth
10 Years:	19%
5 Years:	28%
3 Years:	-6%
TTM:	19%

Compounded Profit Growth
10 Years:	24%
5 Years:	29%
3 Years:	-6%
TTM:	54%

Stock Price CAGR
10 Years:	39%
5 Years:	39%
3 Years:	84%
1 Year:	133%

Return on Equity
10 Years:	8%
5 Years:	9%
3 Years:	7%
Last Year:	11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	9	9	9	9	9	9	9	8	11	11	11	11	11
Reserves	262	280	315	330	344	367	387	698	791	824	883	989	1,028
	170	163	99	154	194	194	126	547	432	404	260	168	134
	7	7	8	10	4	4	5	16	17	16	18	19	21
Total Liabilities	448	459	431	502	552	574	526	1,269	1,251	1,256	1,173	1,187	1,194
	19	19	18	18	18	17	17	26	25	25	24	24	23
CWIP	0	0	0	0	0	0	2	0	0	0	0	0	0
Investments	405	424	392	396	418	457	450	1,184	1,188	1,200	1,136	1,150	1,155
	24	17	21	88	116	100	57	59	38	31	12	13	16
Total Assets	448	459	431	502	552	574	526	1,269	1,251	1,256	1,173	1,187	1,194

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	20	23	15	28	36	39	44	71	149	41	85	108
	-93	0	65	-65	-39	-20	46	-231	39	20	91	18
	76	-25	-81	38	7	-22	-90	160	-187	-62	-179	-126
Net Cash Flow	2	-2	-1	0	4	-3	0	1	1	-0	-3	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	0	0	0	0	0	0	0	0	0	0	0	0
Inventory Days
Days Payable
Cash Conversion Cycle	0	0	0	0	0	0	0	0	0	0	0	0
Working Capital Days	-130	-60	-245	9	112	43	-173	89	32	105	7	12
ROCE %	6%	6%	-3%	8%	8%	8%	8%	8%	14%	5%	9%	12%

Shareholding Pattern

Numbers in percentages

7 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
	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	73.02%	73.02%
	0.00%	0.00%	0.00%	3.53%	3.89%	3.89%	3.89%	3.90%	3.92%	4.28%	4.31%	4.31%
	1.11%	0.52%	0.50%	0.50%	0.50%	0.37%	0.07%	0.06%	0.01%	0.01%	0.01%	0.01%
	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	26.15%	26.82%	26.84%	23.31%	22.95%	23.09%	23.38%	23.38%	23.42%	23.06%	22.67%	22.67%
No. of Shareholders	24,792	24,352	23,643	22,984	22,665	22,345	21,602	21,435	20,792	20,629	20,819	21,019

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	73.96%	74.97%	74.97%	72.66%	72.66%	72.66%	72.66%	73.02%
	0.00%	0.00%	0.00%	0.00%	0.00%	3.53%	3.90%	4.31%
	3.31%	3.30%	3.30%	2.22%	1.65%	0.50%	0.06%	0.01%
	0.16%	0.16%	0.16%	0.12%	0.12%	0.00%	0.00%	0.00%
	22.57%	21.56%	21.56%	25.00%	25.57%	23.31%	23.38%	22.67%
No. of Shareholders	31,519	25,691	23,896	26,731	24,624	22,984	21,435	21,019

* 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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Bengal & Assam Company Ltd

Bengal & Assam Company Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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