Aries Agro Ltd

₹ 186 -1.95%
27 Jan - close price
About

Aries Agro Ltd was founded by Dr. T. B. Mirchandani and Mrs. Bala Mirchandani in 1969. It started activity by manufacturing a small range of mineral feed additives for animals & birds and then diversified into mineral additives for the agriculture use. In 1975, it diversified into nutrients for plants with the introduction of Chelated Micronutrients. It pioneered the concept of Chelates in India with the introduction of "Agromin", a micronutrient fertilizer in the year 1975, followed by "Chelamin" in 1976. Agromin (chelated micronutrients) and Chelamin (chelated zinc) are the company's flagship brands. It is one of the leading manufacturers and sellers of Chelates in the Country [1]

Key Points

Products
1 Micronutrients: It consists of a blend of mineral elements comprising Zinc (Zn), Copper (Cu), Manganese (Mn), Iron (Fe), Boron (B), Molybdenum (Mo). Products include Chelamin, Ferrocare, Prozinc, Agripro, etc. [1]

  • Market Cap 241 Cr.
  • Current Price 186
  • High / Low 243 / 106
  • Stock P/E 14.8
  • Book Value 191
  • Dividend Yield 0.43 %
  • ROCE 13.0 %
  • ROE 5.33 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.97 times its book value

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 6.08% over last 3 years.
  • Contingent liabilities of Rs.222 Cr.
  • Dividend payout has been low at 6.76% of profits over last 3 years
  • Company's cost of borrowing seems high

* 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: Fertilizers Industry: Fertilizers

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
95 87 58 87 119 107 69 102 127 130 86 117 138
72 74 58 71 94 92 68 86 103 116 89 100 113
Operating Profit 22 13 -0 15 25 15 2 15 24 14 -3 17 24
OPM % 23% 14% -0% 18% 21% 14% 2% 15% 19% 10% -3% 15% 18%
0 0 0 0 0 0 0 0 0 0 0 0 0
Interest 7 7 7 6 7 6 7 5 7 5 7 5 7
Depreciation 1 1 3 1 1 3 2 1 1 2 2 1 2
Profit before tax 15 5 -11 8 17 7 -7 9 16 7 -11 11 16
Tax % 26% 11% 2% 30% 30% 34% 33% 34% 31% 39% 30% 31% 17%
Net Profit 11 4 -11 5 12 4 -5 5 11 3 -7 6 14
EPS in Rs 8.73 3.64 -7.94 4.36 9.27 3.63 -3.45 4.48 8.58 2.61 -5.44 5.39 11.05
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
161 219 238 279 278 263 253 291 265 296 381 440 471
121 172 187 221 223 216 210 245 222 254 325 393 418
Operating Profit 41 47 51 58 55 46 42 46 44 42 57 47 53
OPM % 25% 21% 21% 21% 20% 18% 17% 16% 16% 14% 15% 11% 11%
3 4 2 1 1 1 -0 2 3 5 0 4 0
Interest 12 23 24 25 24 25 23 29 29 26 26 24 24
Depreciation 3 8 8 9 10 11 7 2 2 5 6 6 7
Profit before tax 28 21 20 25 22 12 12 17 16 16 25 20 22
Tax % 28% 24% 21% 26% 13% 33% 54% 46% 50% 46% 30% 36%
Net Profit 20 16 16 19 19 8 5 9 8 8 16 12 16
EPS in Rs 14.30 11.43 10.75 12.50 12.96 5.56 5.43 8.06 7.60 7.49 13.81 10.22 13.61
Dividend Payout % 14% 13% 14% 16% 15% 27% 37% 29% 24% 7% 6% 8%
Compounded Sales Growth
10 Years: 7%
5 Years: 12%
3 Years: 18%
TTM: 16%
Compounded Profit Growth
10 Years: -3%
5 Years: 12%
3 Years: 14%
TTM: 2%
Stock Price CAGR
10 Years: 13%
5 Years: -5%
3 Years: 36%
1 Year: 21%
Return on Equity
10 Years: 6%
5 Years: 6%
3 Years: 6%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
13 13 13 13 13 13 13 13 13 13 13 13 13
Reserves 116 127 146 164 165 159 162 170 176 181 198 211 235
117 156 190 178 167 167 137 171 172 150 143 112 82
98 83 80 93 99 109 137 123 133 143 148 173 218
Total Liabilities 345 380 429 448 444 448 450 477 494 487 501 509 548
92 85 101 100 87 87 71 88 95 48 55 68 66
CWIP 19 20 14 11 9 16 22 14 15 12 13 0 0
Investments 1 2 2 2 2 2 0 0 0 59 57 57 62
233 273 313 335 345 342 357 376 384 368 376 384 420
Total Assets 345 380 429 448 444 448 450 477 494 487 501 509 548

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
2 -25 0 31 38 34 48 14 44 59 56 69
-25 -9 0 2 -11 -25 13 -2 -10 -41 -14 -13
55 11 0 -41 -31 -9 -59 -12 -36 -21 -43 -56
Net Cash Flow 33 -23 0 -8 -4 -0 2 0 -2 -4 -0 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 125 147 155 173 172 164 206 228 256 143 118 98
Inventory Days 754 525 444 387 394 412 518 363 478 466 271 234
Days Payable 318 176 115 117 110 84 128 165 207 197 101 111
Cash Conversion Cycle 561 496 483 443 457 493 596 426 526 412 288 222
Working Capital Days 236 296 360 334 356 374 362 338 368 291 230 184
ROCE % 18% 16% 14% 15% 13% 11% 12% 14% 12% 13% 14% 13%

Shareholding Pattern

Numbers in percentages

48 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
52.66 51.11 52.66 52.66 52.66 52.66 52.66 52.66 52.66 52.66 52.66 52.66
0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.24 0.20 0.34 0.48 0.56
0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00
47.34 48.89 47.34 47.34 47.34 47.34 47.31 47.11 47.14 47.00 46.86 46.78

* 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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