AksharChem (India) Ltd

AksharChem (India) Ltd. is principally engaged in the business of manufacturing & export of Dyes and Pigments.

Pros:
Company has reduced debt.
Company is virtually debt free.
Stock is trading at 0.66 times its book value
Company has good consistent profit growth of 50.49% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 24.95%
Cons:
Promoter's stake has decreased

Peer Comparison Sector: Chemicals // Industry: Dyes And Pigments

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
83.68 63.53 45.83 63.28 65.62 58.84 76.51 75.46 85.33 81.98 80.12 70.08
52.15 39.57 38.08 51.31 54.45 49.94 66.95 66.93 69.71 76.96 74.73 64.22
Operating Profit 31.53 23.96 7.75 11.97 11.17 8.90 9.56 8.53 15.62 5.02 5.39 5.86
OPM % 37.68% 37.71% 16.91% 18.92% 17.02% 15.13% 12.50% 11.30% 18.31% 6.12% 6.73% 8.36%
Other Income 4.70 -4.18 6.72 0.64 4.00 2.24 0.19 3.06 -1.62 1.87 2.04 0.95
Interest 0.73 0.61 0.75 0.70 0.45 0.10 0.25 0.24 0.23 0.23 0.22 0.34
Depreciation 1.15 1.17 1.24 1.28 1.25 1.31 0.76 1.07 1.26 1.38 1.80 1.63
Profit before tax 34.35 18.00 12.48 10.63 13.47 9.73 8.74 10.28 12.51 5.28 5.41 4.84
Tax % 26.67% 48.44% 24.36% 32.46% 23.90% 14.70% 44.74% 26.56% 40.69% 24.05% 32.35% -23.76%
Net Profit 25.19 9.26 9.45 7.18 10.25 8.31 4.83 7.55 7.43 4.01 3.65 5.99
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
32.91 45.93 50.55 75.91 84.55 51.89 95.83 144.88 199.82 187.71 248.27 264.26 317.51
32.91 45.69 57.29 77.80 81.79 53.66 89.73 112.12 172.54 155.48 170.79 222.58 285.62
Operating Profit 0.00 0.24 -6.74 -1.89 2.76 -1.77 6.10 32.76 27.28 32.23 77.48 41.68 31.89
OPM % 0.00% 0.52% -13.33% -2.49% 3.26% -3.41% 6.37% 22.61% 13.65% 17.17% 31.21% 15.77% 10.04%
Other Income 1.53 2.79 3.29 6.30 5.87 0.04 0.06 -1.52 3.39 1.29 9.05 7.06 3.24
Interest 0.85 0.70 1.10 1.90 1.54 1.58 1.59 1.09 3.25 3.35 3.02 1.49 1.02
Depreciation 0.51 0.35 0.76 0.86 0.88 0.92 1.19 1.20 3.91 4.24 4.69 4.60 6.07
Profit before tax 0.17 1.98 -5.31 1.65 6.21 -4.23 3.38 28.95 23.51 25.93 78.82 42.65 28.04
Tax % 94.12% 56.57% 3.95% 7.88% -2.58% 8.04% -12.13% 30.78% 31.94% 35.83% 32.87% 28.21%
Net Profit 0.01 0.86 -5.10 1.52 6.37 -3.89 3.79 20.04 16.00 16.64 52.92 30.62 21.08
EPS in Rs 0.03 2.53 0.00 4.47 18.74 0.00 7.57 39.62 21.18 22.04 71.65 37.33
Dividend Payout % 0.00% 0.00% -0.00% 0.00% 0.00% -0.00% 6.53% 12.35% 15.99% 15.38% 4.83% 9.37%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:19.12%
5 Years:22.49%
3 Years:9.77%
TTM:14.86%
Compounded Profit Growth
10 Years:42.83%
5 Years:50.49%
3 Years:28.11%
TTM:-31.87%
Return on Equity
10 Years:24.61%
5 Years:28.36%
3 Years:24.95%
Last Year:15.51%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
3.40 3.40 3.40 3.40 3.40 4.95 4.95 4.95 7.31 7.31 7.31 8.20 8.20
Reserves 7.42 8.28 3.18 4.69 11.07 8.50 12.00 29.14 64.14 77.69 133.08 229.52 249.00
Borrowings 7.83 10.43 19.78 15.34 10.76 14.01 13.96 9.15 23.98 31.08 31.92 0.00 11.53
5.07 11.30 10.49 17.89 19.28 12.26 15.55 27.98 52.66 39.64 46.70 61.49 47.28
Total Liabilities 23.72 33.41 36.85 41.32 44.51 39.72 46.46 71.22 148.09 155.72 219.01 299.21 316.01
2.64 11.00 12.60 12.17 11.79 16.53 15.52 20.63 54.82 56.43 64.71 86.14 126.30
CWIP 0.03 0.00 0.00 0.00 0.94 0.00 0.00 0.35 1.85 4.04 8.87 27.26 30.82
Investments 1.05 1.04 1.04 1.04 0.06 0.06 0.06 7.69 18.34 22.50 51.07 77.13 20.98
20.00 21.37 23.21 28.11 31.72 23.13 30.88 42.55 73.08 72.75 94.36 108.68 137.91
Total Assets 23.72 33.41 36.85 41.32 44.51 39.72 46.46 71.22 148.09 155.72 219.01 299.21 316.01

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
2.62 5.13 -7.06 4.32 1.87 -1.07 1.76 22.36 28.20 13.30 41.08 30.50
-0.07 -8.50 -2.21 0.11 5.16 -4.68 -0.12 -14.23 -12.96 -10.94 -32.39 -63.43
-1.71 2.60 9.35 -4.44 -6.12 4.54 -1.65 -7.93 -15.23 -2.40 -5.25 33.31
Net Cash Flow 0.84 -0.77 0.08 -0.01 0.91 -1.21 -0.01 0.20 0.01 -0.03 3.45 0.38

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 5.51% 12.90% -17.29% 12.97% 8.75% -9.94% 17.06% 85.48% 34.24% 26.88% 53.11% 20.67%
Debtor Days 66.99 56.50 69.03 42.51 24.56 50.22 31.27 33.81 38.38 44.31 19.58 38.02
Inventory Turnover 12.10 18.45 16.82 21.17 12.20 7.26 23.04 19.83 13.74 11.00 10.31 8.55