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 is virtually debt free.
Cons:

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
913 1,035 1,032 1,058 1,041 1,046
762 836 818 855 800 821
Operating Profit 151 199 213 203 240 224
OPM % 17% 19% 21% 19% 23% 21%
Other Income 16 21 -3 6 11 22
Interest 2 2 2 2 2 2
Depreciation 28 29 29 33 32 32
Profit before tax 137 190 179 174 218 212
Tax % 40% 35% 35% 35% 32% 1%
Net Profit 81 122 117 112 147 209
EPS in Rs 27.44 41.21 39.46 37.61 49.67 70.45
Notes Notes Notes Notes Notes Notes

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

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
1,033 1,210 1,174 1,532 1,775 2,029 2,439 2,637 2,595 2,834 3,514 4,265 4,176
982 1,116 1,067 1,381 1,569 1,780 2,075 2,236 2,135 2,324 3,009 3,498 3,295
Operating Profit 51 94 107 151 205 249 364 401 460 509 505 767 881
OPM % 5% 8% 9% 10% 12% 12% 15% 15% 18% 18% 14% 18% 21%
Other Income 44 29 35 53 12 22 36 10 39 57 30 40 36
Interest 33 41 26 26 43 33 33 26 28 25 13 7 7
Depreciation 30 32 37 39 44 51 58 60 66 95 110 119 126
Profit before tax 32 50 79 139 130 186 308 326 404 446 412 680 783
Tax % 5% 16% 29% 35% 27% 31% 29% 31% 32% 28% 32% 36%
Net Profit 30 42 56 90 91 120 219 241 274 323 276 432 585
EPS in Rs 9.76 13.77 18.04 29.68 29.96 39.34 72.55 79.19 92.38 108.82 93.15 145.63 197.19
Dividend Payout % 29% 21% 21% 15% 15% 15% 10% 10% 9% 9% 13% 10%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.43%
5 Years:11.83%
3 Years:18.02%
TTM:21.38%
Compounded Profit Growth
10 Years:26.08%
5 Years:14.48%
3 Years:16.20%
TTM:55.83%
Stock Price CAGR
10 Years:48.36%
5 Years:24.21%
3 Years:22.56%
1 Year:15.01%
Return on Equity
10 Years:17.77%
5 Years:17.73%
3 Years:16.13%
Last Year:17.40%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
30 30 30 30 30 30 30 30 30 30 30 30 30
Reserves 397 427 458 541 624 725 919 1,009 1,585 1,936 2,214 2,676 2,897
Borrowings 430 370 295 327 392 370 367 299 316 168 16 55 90
280 249 361 373 419 448 511 494 548 594 754 784 865
Total Liabilities 1,136 1,075 1,144 1,271 1,466 1,572 1,826 1,832 2,479 2,727 3,014 3,544 3,881
372 428 412 391 444 506 570 514 750 1,026 1,027 1,104 1,135
CWIP 62 16 13 36 66 66 59 112 180 59 96 172 231
Investments 53 55 53 85 75 67 63 66 382 429 470 752 846
649 577 665 759 881 933 1,134 1,140 1,167 1,213 1,420 1,515 1,669
Total Assets 1,136 1,075 1,144 1,271 1,466 1,572 1,826 1,832 2,479 2,727 3,014 3,544 3,881

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
18 191 110 59 89 187 152 306 401 392 356 404
-60 -57 -4 -62 -104 -116 -83 -167 -375 -175 -129 -408
27 -136 -102 -5 16 -78 -60 -124 -39 -212 -207 -1
Net Cash Flow -15 -3 4 -8 1 -6 8 16 -13 5 19 -5

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 9% 11% 13% 19% 18% 20% 28% 26% 26% 23% 19% 27%
Debtor Days 91 64 82 69 74 63 65 61 62 67 75 60
Inventory Turnover 4.82 5.44 5.35 6.03 5.77 5.80 6.09 6.21 6.16 6.69 8.46 9.24