Atul Ltd

Atul is in the business of Life Science Chemicals and Performance and Other Chemicals and caters to the needs of varied industries across the world such as Adhesives, Agriculture, Animal Feed, Automobile, Composites, Construction, Cosmetic, Defence, Dyestuff, Electrical and Electronics, Flavour, Food, Footwear, Fragrance, Glass, Home Care, Horticulture, Hospitality, Paint and Coatings, Paper, Personal Care, Pharmaceutical, Plastic, Polymer, Rubber, Soap and Detergent, Sport and Leisure, Textile, Tyre and Wind Energy.(Source : 201903 Annual Report Page No: 121)

Pros:
Company has reduced debt.
Company is virtually debt free.
Cons:

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
699 642 720 650 787 804 867 888 1,007 1,019 1,001 993
555 533 618 574 662 678 721 746 817 808 808 776
Operating Profit 144 109 101 76 125 126 145 142 190 211 193 217
OPM % 21% 17% 14% 12% 16% 16% 17% 16% 19% 21% 19% 22%
Other Income 10 3 23 4 8 0 26 13 19 -5 4 10
Interest 5 6 3 3 3 2 2 1 1 1 1 0
Depreciation 22 23 25 26 26 26 27 27 27 28 30 29
Profit before tax 126 83 97 52 104 99 142 127 180 178 166 197
Tax % 35% 29% 34% 34% 33% 33% 30% 34% 34% 34% 35% 34%
Net Profit 82 59 64 34 70 66 100 84 119 117 109 130
EPS in Rs 27.76 19.75 21.52 11.61 23.62 22.25 33.68 28.38 40.13 39.41 36.59 43.74
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
1,003 1,147 1,153 1,476 1,760 1,983 2,343 2,535 2,454 2,695 3,107 3,916 4,021
942 1,063 1,041 1,325 1,572 1,736 2,000 2,159 2,013 2,224 2,635 3,180 3,210
Operating Profit 61 84 112 152 188 247 343 376 442 470 472 736 811
OPM % 6% 7% 10% 10% 11% 12% 15% 15% 18% 17% 15% 19% 20%
Other Income 40 35 30 52 21 26 40 15 46 42 38 31 28
Interest 33 41 26 26 43 32 31 24 26 21 9 4 3
Depreciation 30 32 37 39 44 49 54 55 62 91 105 112 114
Profit before tax 38 46 80 139 122 192 297 312 400 401 397 652 722
Tax % 4% 17% 29% 35% 28% 30% 28% 30% 31% 29% 32% 34%
Net Profit 37 38 57 90 88 136 213 217 274 285 270 429 474
EPS in Rs 11.83 12.25 18.48 29.59 29.69 44.64 70.42 71.53 92.47 96.13 91.11 144.42 159.87
Dividend Payout % 24% 24% 21% 15% 15% 13% 10% 12% 11% 10% 13% 10%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.07%
5 Years:10.82%
3 Years:16.85%
TTM:20.19%
Compounded Profit Growth
10 Years:27.40%
5 Years:14.97%
3 Years:16.16%
TTM:48.10%
Stock Price CAGR
10 Years:47.33%
5 Years:25.28%
3 Years:19.10%
1 Year:22.92%
Return on Equity
10 Years:17.46%
5 Years:17.24%
3 Years:15.71%
Last Year:17.62%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
30 30 30 30 30 30 30 30 30 30 30 30
Reserves 403 429 455 537 612 726 912 986 1,562 1,891 2,168 2,620
Borrowings 428 368 295 327 382 355 351 281 302 155 0 0
276 247 349 357 423 424 492 474 501 583 737 723
Total Liabilities 1,138 1,074 1,128 1,252 1,447 1,536 1,784 1,771 2,395 2,659 2,935 3,373
371 427 412 390 418 480 520 474 713 931 922 921
CWIP 62 16 11 29 56 46 53 104 170 37 70 70
Investments 65 65 65 83 125 129 136 149 449 532 595 926
639 566 639 749 848 881 1,075 1,044 1,063 1,159 1,348 1,455
Total Assets 1,138 1,074 1,128 1,252 1,447 1,536 1,784 1,771 2,395 2,659 2,935 3,373

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
11 204 107 60 121 167 141 317 375 370 325 397
-54 -68 -13 -52 -119 -89 -80 -196 -342 -160 -87 -298
27 -136 -102 -5 -5 -81 -60 -123 -34 -208 -224 -104
Net Cash Flow -15 -0 -8 3 -4 -3 1 -3 -1 2 15 -5

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 10% 10% 13% 19% 17% 20% 27% 26% 27% 21% 19% 27%
Debtor Days 102 71 86 74 76 67 70 63 62 69 84 71
Inventory Turnover 5.25 5.65 5.65 6.25 6.33 6.59 6.86 6.99 6.78 7.26 8.32 9.71