Aimco Pesticides Ltd

About

Aimco Pesticides is engaged in the business of manufacturing and trading in agrochemical products. Its manufacturing plant is located at Taluka Khed, District Ratnagiri, Maharashtra.

Key Points

Revenue Mix: [1]
As of FY20 company has 3 business segments-
Technical-contributes 31% of sales
Formulations-contributes 60% of sales
Trading-contributes roughly 10% of sales

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  • Market Cap 95.2 Cr.
  • Current Price 99.4
  • High / Low 148 / 82.5
  • Stock P/E 30.4
  • Book Value 45.4
  • Dividend Yield 1.01 %
  • ROCE 15.3 %
  • ROE 5.29 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 28.61%

Cons

  • Promoters have pledged 50.63% of their holding.
  • Company's cost of borrowing seems high
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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
61.47 57.22 62.39 41.31 48.60 32.95 43.09 49.18 37.34 46.08 53.79 80.51
58.33 57.48 59.36 38.99 46.31 30.46 40.72 44.70 35.57 47.96 52.29 75.25
Operating Profit 3.14 -0.26 3.03 2.32 2.29 2.49 2.37 4.48 1.77 -1.88 1.50 5.26
OPM % 5.11% -0.45% 4.86% 5.62% 4.71% 7.56% 5.50% 9.11% 4.74% -4.08% 2.79% 6.53%
Other Income 1.67 3.16 1.72 0.99 1.03 0.02 0.57 0.58 0.89 1.01 0.91 -0.65
Interest 0.05 0.39 0.27 0.56 0.34 0.82 1.25 1.89 0.51 0.74 0.46 0.42
Depreciation 0.44 0.48 0.62 0.63 0.65 0.76 0.53 0.55 0.55 0.56 0.57 0.63
Profit before tax 4.32 2.03 3.86 2.12 2.33 0.93 1.16 2.62 1.60 -2.17 1.38 3.56
Tax % 28.24% 35.47% 29.02% 33.02% 24.03% 23.66% 27.59% 27.86% 28.12% 18.43% 24.64% 23.88%
Net Profit 3.11 1.30 2.74 1.42 1.77 0.71 0.84 1.88 1.15 -1.77 1.05 2.70
EPS in Rs 3.25 1.36 2.86 1.48 1.85 0.74 0.88 1.96 1.20 -1.85 1.10 2.82

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
140 164 96 99 109 197 185 176 218
137 160 92 88 105 191 175 169 211
Operating Profit 3 4 4 11 4 7 10 7 7
OPM % 2% 3% 4% 11% 4% 3% 5% 4% 3%
Other Income 0 0 1 2 5 7 4 3 2
Interest 1 0 0 0 0 1 2 4 2
Depreciation 0 1 1 1 1 2 3 2 2
Profit before tax 2 3 4 12 8 11 9 3 4
Tax % 78% 11% -9% 3% 37% 30% 28% 34%
Net Profit 0 3 5 11 5 8 7 2 3
EPS in Rs 0.42 3.14 4.93 12.28 5.20 8.06 6.94 2.19 3.27
Dividend Payout % 0% 0% 0% 0% 19% 19% 22% 46%
Compounded Sales Growth
10 Years: %
5 Years: 13%
3 Years: 17%
TTM: 25%
Compounded Profit Growth
10 Years: %
5 Years: -7%
3 Years: -26%
TTM: -40%
Stock Price CAGR
10 Years: 28%
5 Years: 7%
3 Years: -8%
1 Year: 7%
Return on Equity
10 Years: %
5 Years: 23%
3 Years: 15%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
9 9 9 9 10 10 10 10 10
Reserves -9 -6 -1 9 19 26 29 31 34
Borrowings 0 0 0 0 0 0 9 10 8
63 49 48 41 41 65 82 82 93
Total Liabilities 64 53 56 59 70 100 130 133 145
5 5 4 7 14 17 19 19 27
CWIP 0 0 0 5 0 2 4 8 2
Investments 0 0 0 0 0 0 0 0 0
60 48 52 47 56 81 107 106 116
Total Assets 64 53 56 59 70 100 130 133 145

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
12 0 -0 7 -1 10 3 8
-1 -1 1 -9 -3 -6 -5 -6
-9 -0 -0 0 6 -2 4 -4
Net Cash Flow 1 -1 1 -2 1 2 2 -2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 90 71 94 61 54 29 58 53
Inventory Days 47 25 95 102 122 106 148 160
Days Payable 125 107 197 161 145 116 170 188
Cash Conversion Cycle 12 -11 -7 2 30 19 36 25
Working Capital Days -17 -8 -2 -1 36 23 39 44
ROCE % 160% 43% 91% 36% 37% 27% 15%

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
51.32 51.32 49.39 51.32 51.34 51.34 51.34 51.34 51.35 51.35 51.35 51.35
0.00 0.04 0.00 0.04 0.04 0.04 0.04 0.04 0.00 0.04 0.04 0.04
0.07 0.03 0.07 0.03 0.09 0.04 0.04 0.04 0.08 0.04 0.04 0.03
48.61 48.61 50.54 48.61 48.54 48.59 48.59 48.59 48.58 48.58 48.58 48.58

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