Andhra Sugars Ltd

Andhra Sugars Ltd

₹ 92.8 -1.49%
28 Mar - close price
About

Incorporated in 1947, Andhra Sugars Limited is a manufacturer of Sugar, Industrial Alcohol, Chlor Alkali Products, Aspirin, Sulphuric Acid, Liquid & Solid Propellants. It also generates power for captive use [1]

Key Points

Business Segments
Chemicals: The Co produces different chemicals like Aluminium Chloride, Sodium Hypochlorite, Liquid Chlorine etc, which go as basic building blocks to a host of industries like Pharmaceuticals, paper, textiles, pesticides, water treatment etc.
Sugar: The sugar crushing operations commenced in 1952 at Tanuku with a 600 TCD capacity and has increased to 16,000 TCD currently.
Pharma: The Co started commercial production of Aspirin in 1980. Its plant is certified by USFDA, EDQM & WHO. [1]

  • Market Cap 1,257 Cr.
  • Current Price 92.8
  • High / Low 129 / 92.1
  • Stock P/E 16.9
  • Book Value 95.8
  • Dividend Yield 2.16 %
  • ROCE 18.5 %
  • ROE 14.0 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.97 times its book value
  • Company has been maintaining a healthy dividend payout of 25.2%
  • Company's working capital requirements have reduced from 125 days to 93.7 days

Cons

  • The company has delivered a poor sales growth of 8.49% over past five years.
  • Company has a low return on equity of 12.4% 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: Chemicals Industry: Chlor Alkali / Soda Ash

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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
242.20 250.72 247.49 276.58 338.82 354.41 376.13 368.49 366.41 341.90 313.08 304.55 281.12
205.78 196.64 194.45 231.13 277.97 268.53 278.39 295.97 304.28 293.31 275.12 279.41 263.34
Operating Profit 36.42 54.08 53.04 45.45 60.85 85.88 97.74 72.52 62.13 48.59 37.96 25.14 17.78
OPM % 15.04% 21.57% 21.43% 16.43% 17.96% 24.23% 25.99% 19.68% 16.96% 14.21% 12.12% 8.25% 6.32%
3.99 4.51 3.04 12.16 3.70 19.16 3.05 3.17 4.03 5.85 6.17 12.61 8.15
Interest 5.16 6.63 4.54 3.16 2.55 2.54 0.91 0.79 0.40 0.78 0.26 0.22 0.42
Depreciation 13.86 14.53 13.79 14.06 14.18 15.12 14.73 15.17 15.44 15.55 16.91 17.12 17.48
Profit before tax 21.39 37.43 37.75 40.39 47.82 87.38 85.15 59.73 50.32 38.11 26.96 20.41 8.03
Tax % 26.60% 18.70% 25.46% 22.80% 26.20% 23.22% 24.93% 26.32% 25.08% 25.40% 26.48% 22.20% -4.48%
15.70 30.43 28.14 31.18 35.29 67.09 63.92 44.01 37.70 28.43 19.81 15.89 8.39
EPS in Rs 1.16 2.25 2.08 2.30 2.60 4.95 4.72 3.25 2.78 2.10 1.46 1.17 0.62
Raw PDF

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
758 832 726 779 869 907 967 974 1,041 950 1,217 1,453 1,241
573 647 599 723 742 700 765 678 780 754 971 1,163 1,111
Operating Profit 185 185 127 56 128 206 201 296 261 196 246 290 129
OPM % 24% 22% 17% 7% 15% 23% 21% 30% 25% 21% 20% 20% 10%
13 -4 13 11 22 23 27 37 27 16 38 16 33
Interest 21 20 21 23 28 25 32 30 28 27 13 3 2
Depreciation 39 41 43 36 48 44 49 50 56 56 57 70 67
Profit before tax 138 119 76 8 74 160 148 254 203 129 213 233 94
Tax % 32% 37% 28% 56% 37% 25% 33% 35% 6% 21% 24% 25%
93 75 55 3 46 121 99 166 190 102 162 174 73
EPS in Rs 6.89 5.52 4.03 0.25 3.42 8.89 7.33 12.23 14.03 7.53 11.93 12.84 5.35
Dividend Payout % 20% 22% 25% 241% 29% 22% 27% 16% 29% 27% 34% 16%
Compounded Sales Growth
10 Years: 6%
5 Years: 8%
3 Years: 12%
TTM: -15%
Compounded Profit Growth
10 Years: 8%
5 Years: 14%
3 Years: -1%
TTM: -66%
Stock Price CAGR
10 Years: 16%
5 Years: 6%
3 Years: 16%
1 Year: -13%
Return on Equity
10 Years: 12%
5 Years: 14%
3 Years: 12%
Last Year: 14%

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 27 27 27 27 27 27 27 27 27 27 27 27 27
Reserves 441 497 537 528 666 814 854 973 983 1,095 1,246 1,262 1,271
308 243 282 326 266 341 250 294 254 157 51 22 13
328 343 366 309 246 284 278 318 259 278 322 329 308
Total Liabilities 1,104 1,111 1,211 1,190 1,205 1,466 1,410 1,613 1,523 1,557 1,646 1,639 1,619
487 495 467 460 447 599 596 650 662 668 665 762 740
CWIP 7 7 26 19 60 27 97 55 28 46 68 125 179
Investments 75 78 103 103 207 357 235 314 228 287 275 142 193
535 532 616 608 491 482 482 595 605 556 638 610 506
Total Assets 1,104 1,111 1,211 1,190 1,205 1,466 1,410 1,613 1,523 1,557 1,646 1,639 1,619

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
53 151 57 18 166 255 163 123 184 233 197 249
-38 -39 -53 -36 -64 -260 -8 -145 -25 -115 -44 -177
-15 -108 -7 21 -106 6 -148 26 -166 -122 -149 -87
Net Cash Flow -1 4 -3 2 -4 1 7 4 -7 -4 5 -14

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 44 40 46 46 38 38 48 48 47 51 50 40
Inventory Days 392 326 549 370 292 304 239 520 403 396 340 260
Days Payable 28 10 21 20 15 48 32 43 22 56 56 42
Cash Conversion Cycle 407 355 574 396 315 294 256 525 428 391 334 258
Working Capital Days 130 115 158 170 115 79 93 129 128 154 126 94
ROCE % 21% 20% 12% 4% 11% 17% 15% 23% 17% 12% 17% 18%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
46.92% 46.92% 46.92% 46.92% 46.94% 46.94% 46.96% 47.08% 47.08% 47.08% 47.08% 47.08%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.42% 3.56% 3.52% 3.55% 3.38% 3.28%
0.74% 1.41% 1.75% 2.62% 2.84% 3.24% 0.00% 0.00% 0.00% 0.00% 0.05% 0.00%
52.33% 51.67% 51.33% 50.46% 50.22% 49.82% 49.61% 49.36% 49.40% 49.37% 49.50% 49.64%
No. of Shareholders 22,02925,12224,93127,72042,95845,00744,92146,08145,91245,09047,14247,853

* 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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