Aries Agro Ltd

About [ edit ]

Aries Agro is engaged in the business of manufacturing of small range of mineral feed additives for animals & birds and then diversified into mineral additives for the agriculture use and currently is into business of manufacturing micronutrients and other nutritional products for plants and animals.

Key Points [ edit ]
  • Market Cap 130 Cr.
  • Current Price 100
  • High / Low 118 / 52.5
  • Stock P/E 10.8
  • Book Value 162
  • Dividend Yield 0.50 %
  • ROCE 12.5 %
  • ROE 5.08 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.62 times its book value
  • Company has been maintaining a healthy dividend payout of 19.63%
  • Debtor days have improved from 209.10 to 143.31 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 1.25% over past five years.
  • Company has a low return on equity of 5.41% for last 3 years.
  • Company's cost of borrowing seems high

Peer comparison

Sector: Fertilizers Industry: Fertilizers

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
48.12 56.42 87.67 72.64 56.80 64.41 94.51 87.10 57.64 86.67 118.73 107.13
44.52 45.87 66.48 61.63 52.58 52.05 72.35 74.49 57.75 71.25 93.66 92.30
Operating Profit 3.60 10.55 21.19 11.01 4.22 12.36 22.16 12.61 -0.11 15.42 25.07 14.83
OPM % 7.48% 18.70% 24.17% 15.16% 7.43% 19.19% 23.45% 14.48% -0.19% 17.79% 21.12% 13.84%
Other Income -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
Interest 8.70 5.12 5.60 7.71 10.59 4.99 6.69 6.64 7.21 6.39 6.90 5.50
Depreciation 0.59 0.56 0.56 0.60 0.69 0.60 0.62 0.79 3.35 1.35 1.08 2.51
Profit before tax -5.69 4.87 15.03 2.70 -7.06 6.77 14.85 5.18 -10.67 7.68 17.09 6.82
Tax % 26.01% 48.25% 38.79% 37.78% 19.12% 49.04% 25.66% 11.00% 2.16% 29.69% 30.37% 33.87%
Net Profit -3.70 3.16 8.87 3.02 -5.18 3.97 11.35 4.74 -10.32 5.67 12.06 4.72
EPS in Rs -2.85 2.43 6.82 2.32 -3.98 3.05 8.73 3.64 -7.94 4.36 9.27 3.63

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
98 138 161 219 238 279 278 263 253 291 265 296 370
84 107 121 172 187 221 223 216 211 245 222 254 315
Operating Profit 14 31 41 47 51 58 55 46 42 46 44 42 55
OPM % 14% 23% 25% 21% 21% 21% 20% 18% 17% 16% 16% 14% 15%
Other Income 1 3 3 4 2 1 1 1 0 2 3 5 0
Interest 6 8 12 23 24 25 24 25 23 29 29 26 26
Depreciation 1 2 3 8 8 9 10 11 7 2 2 5 8
Profit before tax 8 24 28 21 20 25 22 12 12 17 16 16 21
Tax % 25% 27% 28% 24% 21% 26% 13% 33% 54% 46% 50% 46%
Net Profit 5 16 19 15 14 16 17 7 7 10 10 10 12
EPS in Rs 3.88 12.49 14.30 11.43 10.75 12.50 12.96 5.56 5.43 8.06 7.60 7.49 9.32
Dividend Payout % -0% 12% 14% 13% 14% 16% 15% 27% 37% 29% 24% 7%
Compounded Sales Growth
10 Years:8%
5 Years:1%
3 Years:5%
TTM:22%
Compounded Profit Growth
10 Years:-5%
5 Years:-11%
3 Years:11%
TTM:-18%
Stock Price CAGR
10 Years:-2%
5 Years:-3%
3 Years:-21%
1 Year:85%
Return on Equity
10 Years:8%
5 Years:5%
3 Years:5%
Last Year:5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
13 13 13 13 13 13 13 13 13 13 13 13 13
Reserves 91 101 116 127 146 164 165 159 162 170 176 181 198
Borrowings 71 88 117 156 190 178 167 167 137 171 172 150 126
37 44 98 83 80 93 99 109 137 123 133 143 172
Total Liabilities 211 245 345 380 429 448 444 448 450 477 494 487 509
38 40 92 85 101 100 87 87 71 88 95 48 52
CWIP 19 16 19 20 14 11 9 16 22 14 15 12 12
Investments 2 1 1 2 2 2 2 2 -0 -0 -0 59 59
152 189 233 273 313 335 345 342 357 376 384 368 387
Total Assets 211 245 345 380 429 448 444 448 450 477 494 487 509

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-38 -2 2 -25 -0 31 38 34 48 14 44 53
-16 -1 -25 -9 -0 2 -11 -25 13 -2 -10 -35
42 9 55 11 -0 -41 -31 -9 -59 -12 -36 -21
Net Cash Flow -13 7 33 -23 -0 -8 -4 -0 2 0 -2 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 9% 17% 18% 16% 14% 15% 13% 11% 12% 14% 12% 13%
Debtor Days 210 175 125 147 155 173 172 164 206 228 256 143
Inventory Turnover 1.07 1.09 0.65 0.77 0.86 0.99 1.04 0.91 0.72 0.97 0.79 0.82

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
52.66 52.66 52.66 52.66 52.66 52.66 52.66 52.66 51.11 52.66 52.66 52.66
0.18 0.12 0.12 0.15 0.17 0.14 0.14 0.00 0.00 0.00 0.00 0.00
47.16 47.22 47.22 47.19 47.17 47.20 47.20 47.34 48.89 47.34 47.34 47.34

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