Bengal & Assam Company Ltd

₹ 8,000 -2.00%

19 Apr 4:01 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 ₹ 9,037 Cr.
Current Price ₹ 8,000
High / Low ₹ 10,389 / 3,503
Stock P/E 6.65
Book Value ₹ 5,401
Dividend Yield 0.31 %
ROCE 9.76 %
ROE 19.0 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 36.8% CAGR over last 5 years

Cons

Earnings include an other income of Rs.3,639 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: Finance Industry: Finance & Investments

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	3,100	3,318	3,021	3,380	3,473	3,702	4,167	4,228	3,993	4,103	4,241	4,377	3,777
	2,547	2,835	2,666	3,002	3,165	3,445	3,814	3,847	3,619	3,622	3,710	3,697	3,224
Operating Profit	553	483	355	377	307	257	353	381	374	481	531	680	553
OPM %	18%	15%	12%	11%	9%	7%	8%	9%	9%	12%	13%	16%	15%
	134	165	110	58	118	191	149	99	191	201	196	144	3,098
Interest	115	115	117	115	108	109	107	117	129	135	129	119	106
Depreciation	109	105	107	107	106	108	112	110	114	120	120	122	114
Profit before tax	463	429	241	212	212	232	283	252	322	427	478	583	3,431
Tax %	27%	21%	20%	28%	19%	8%	14%	17%	16%	19%	21%	25%	11%
	338	337	193	153	170	214	244	210	272	345	378	437	3,062
EPS in Rs	199.61	213.57	143.60	111.33	128.55	172.26	195.57	168.24	212.38	253.91	263.66	283.68	2,622.08
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	1,032	1,144	1,251	1,371	1,438	1,560	1,531	12,534	10,122	10,439	13,609	16,521	16,498
	937	1,000	1,133	1,205	1,243	1,283	1,247	11,151	8,858	8,937	12,278	14,903	14,253
Operating Profit	95	144	118	166	195	277	284	1,383	1,263	1,502	1,330	1,618	2,245
OPM %	9%	13%	9%	12%	14%	18%	19%	11%	12%	14%	10%	10%	14%
	12	29	101	27	26	28	29	-33	-76	52	26	-7	3,639
Interest	41	91	86	84	94	93	164	574	608	504	449	488	489
Depreciation	25	32	33	34	37	40	42	367	420	428	428	456	476
Profit before tax	41	49	99	74	90	171	108	409	159	622	479	667	4,918
Tax %	18%	22%	22%	19%	24%	24%	29%	34%	-87%	38%	35%	32%
	33	38	77	178	250	345	207	457	522	678	731	1,071	4,222
EPS in Rs	35.05	40.19	83.65	199.70	279.03	382.63	231.31	415.28	402.92	450.08	555.74	830.10	3,423.33
Dividend Payout %	11%	10%	6%	4%	4%	3%	4%	3%	4%	2%	3%	3%

Compounded Sales Growth
10 Years:	31%
5 Years:	61%
3 Years:	18%
TTM:	3%

Compounded Profit Growth
10 Years:	39%
5 Years:	37%
3 Years:	24%
TTM:	52%

Stock Price CAGR
10 Years:	37%
5 Years:	37%
3 Years:	82%
1 Year:	121%

Return on Equity
10 Years:	16%
5 Years:	16%
3 Years:	16%
Last Year:	19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	11	11	11	11	11	11
Reserves	416	455	522	1,274	1,514	1,813	2,005	2,991	3,363	3,904	4,533	5,502	6,090
	489	483	371	410	444	422	348	6,474	6,093	5,110	5,527	5,185	4,747
	274	294	303	314	328	347	416	4,734	4,833	5,418	6,155	6,527	7,325
Total Liabilities	1,188	1,241	1,205	2,006	2,294	2,591	2,777	14,211	14,300	14,443	16,226	17,226	18,173
	371	395	376	355	377	366	391	6,701	6,810	6,647	6,841	6,931	6,919
CWIP	9	4	4	9	3	20	11	287	295	328	136	232	478
Investments	538	578	564	1,289	1,508	1,703	1,984	1,819	2,085	2,423	2,749	3,602	3,980
	270	264	261	353	406	502	391	5,404	5,110	5,045	6,500	6,460	6,796
Total Assets	1,188	1,241	1,205	2,006	2,294	2,591	2,777	14,211	14,300	14,443	16,226	17,226	18,173

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	159	128	139	109	144	113	102	993	1,499	1,780	351	1,437
	-377	-64	44	-105	-102	54	-163	-368	-348	-177	-188	-647
	230	-77	-183	-3	-37	-172	64	-567	-1,191	-1,567	-144	-778
Net Cash Flow	12	-14	-0	1	4	-5	3	58	-39	37	19	12

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	37	39	34	34	32	29	32	65	73	63	61	57
Inventory Days	27	24	23	24	25	27	28	89	118	120	114	91
Days Payable	29	22	28	30	32	32	30	81	114	101	96	70
Cash Conversion Cycle	35	41	29	28	26	24	30	73	77	81	79	78
Working Capital Days	-11	20	11	13	16	40	16	61	56	40	51	42
ROCE %	9%	14%	12%	12%	10%	12%	11%	15%	8%	10%	8%	10%

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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