The Phosphate Company Ltd

About

The Phosphate Company is also engaged in the trading of Acid.(Source : 202003 Annual Report Page No: 36)

  • Market Cap 26.3 Cr.
  • Current Price 73.0
  • High / Low 89.2 / 32.2
  • Stock P/E 9.02
  • Book Value 215
  • Dividend Yield 0.00 %
  • ROCE 6.79 %
  • ROE 3.27 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.34 times its book value
  • Company is expected to give good quarter
  • Debtor days have improved from 68.39 to 43.65 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of -4.12% over past five years.
  • Company has a low return on equity of 2.75% for last 3 years.

Peer comparison

Sector: Fertilizers Industry: Fertilizers

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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
28.94 13.80 8.57 19.70 28.00 14.89 3.42 20.82 22.59 14.37 11.95 32.48
25.40 11.93 7.11 17.54 25.57 13.90 4.29 15.69 20.27 13.50 9.91 29.81
Operating Profit 3.54 1.87 1.46 2.16 2.43 0.99 -0.87 5.13 2.32 0.87 2.04 2.67
OPM % 12.23% 13.55% 17.04% 10.96% 8.68% 6.65% -25.44% 24.64% 10.27% 6.05% 17.07% 8.22%
Other Income 0.09 0.12 0.02 0.03 0.02 0.06 0.08 -0.00 0.02 0.04 0.03 0.03
Interest 1.35 1.38 1.16 1.24 0.94 0.79 0.87 0.78 0.82 0.57 0.55 0.91
Depreciation 0.29 0.32 0.28 0.29 0.20 0.30 0.27 0.27 0.27 0.26 0.26 0.26
Profit before tax 1.99 0.29 0.04 0.66 1.31 -0.04 -1.93 4.08 1.25 0.08 1.26 1.53
Tax % 54.77% 55.17% -50.00% 40.91% -32.82% -75.00% 27.98% 27.94% 29.60% 50.00% 27.78% 29.41%
Net Profit 0.90 0.13 0.06 0.39 1.74 -0.06 -1.39 2.94 0.88 0.05 0.91 1.08
EPS in Rs 2.49 0.36 0.17 1.08 4.82 -0.17 -3.85 8.15 2.44 0.14 2.52 2.99

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
69.01 75.55 62.64 69.06 72.00 72.87 61.21 81.39
65.34 81.19 54.65 61.01 63.30 65.83 53.77 73.49
Operating Profit 3.67 -5.64 7.99 8.05 8.70 7.04 7.44 7.90
OPM % 5.32% -7.47% 12.76% 11.66% 12.08% 9.66% 12.15% 9.71%
Other Income 2.31 17.38 0.37 0.23 0.26 0.13 0.14 0.12
Interest 6.08 7.16 6.72 5.09 5.09 4.12 3.03 2.85
Depreciation 0.99 1.04 0.99 1.03 1.13 1.06 1.05 1.05
Profit before tax -1.09 3.54 0.65 2.16 2.74 1.99 3.50 4.12
Tax % 179.82% 52.26% 26.15% 29.17% 47.81% -7.04% 28.86%
Net Profit 0.87 1.69 0.48 1.53 1.42 2.12 2.49 2.92
EPS in Rs 3.94 5.88 6.90 8.09
Dividend Payout % -0.00% -0.00% -0.00% -0.00% -0.00% -0.00% -0.00%
Compounded Sales Growth
10 Years: %
5 Years: -4%
3 Years: -4%
TTM: 21%
Compounded Profit Growth
10 Years: %
5 Years: 20%
3 Years: 17%
TTM: -10%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 44%
1 Year: 137%
Return on Equity
10 Years: %
5 Years: 2%
3 Years: 3%
Last Year: 3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
3.61 3.61 3.61 3.61 3.61 3.61 3.61 3.61
Reserves 57.09 52.87 64.59 66.02 67.47 69.49 71.85 73.83
Borrowings 41.41 51.30 40.55 36.96 39.25 25.81 15.82 27.08
17.78 20.20 14.01 17.60 18.35 16.52 17.03 42.53
Total Liabilities 119.89 127.98 122.76 124.19 128.68 115.43 108.31 147.05
68.80 71.07 81.64 81.31 80.80 80.84 79.74 79.24
CWIP 0.02 0.05 0.57 1.25 1.72 2.44 2.86 2.86
Investments -0.00 -0.00 0.05 0.10 0.05 0.26 0.26 1.80
51.07 56.86 40.50 41.53 46.11 31.89 25.45 63.15
Total Assets 119.89 127.98 122.76 124.19 128.68 115.43 108.31 147.05

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1.87 -3.16 15.33 8.84 3.66 20.03 12.07
0.95 -0.73 -0.64 -1.31 -0.92 -1.90 -0.24
-2.55 4.17 -15.03 -7.55 -2.72 -17.36 -12.62
Net Cash Flow 0.27 0.28 -0.33 -0.02 0.02 0.77 -0.79

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 125.83 147.88 132.45 109.09 95.61 65.92 43.65
Inventory Days 136.99 118.45 101.16 101.24 152.54 103.05 135.25
Days Payable 140.64 132.03 104.88 110.37 116.66 94.77 109.13
Cash Conversion Cycle 122.18 134.30 128.73 99.96 131.49 74.20 69.77
Working Capital Days 149.63 160.30 148.88 123.31 140.52 70.48 51.70
ROCE % 1.98% 6.80% 6.72% 7.20% 5.82% 6.79%

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
68.90 68.90 68.90 68.90 68.90 68.90 68.91 68.91 68.91 68.91 68.91 68.91
9.36 9.36 9.36 9.36 9.36 9.36 9.36 9.36 9.36 9.24 8.94 8.05
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00
21.73 21.73 21.73 21.73 21.73 21.73 21.72 21.72 21.73 21.85 22.15 23.04

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