Balrampur Chini Mills Ltd

About [ edit ]

Balrampur Chini Mills Limited (BCML) is one of the largest integrated sugar companies in India. The allied businesses of the Company comprise distillery operations and cogeneration of power.
BCML is one of the most efficient integrated sugar producers in the country. The Company has grown its capacity by well-planned capacity expansion projects and the acquisition of existing companies over recent years. #

Key Points [ edit ]
  • Market Cap 6,944 Cr.
  • Current Price 331
  • High / Low 363 / 122
  • Stock P/E 14.8
  • Book Value 122
  • Dividend Yield 0.76 %
  • ROCE 16.8 %
  • ROE 19.0 %
  • Face Value 1.00

Pros

  • Company has reduced debt.

Cons

  • The company has delivered a poor sales growth of 11.78% over past five years.
  • Company might be capitalizing the interest cost

Peer comparison

Sector: Sugar Industry: Sugar

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
1,003 1,015 941 1,327 948 857 1,196 1,740 1,430 1,290 1,072 1,019
873 874 781 1,069 773 702 1,086 1,499 1,213 1,162 1,036 687
Operating Profit 129 141 160 258 176 155 110 241 217 128 36 332
OPM % 13% 14% 17% 19% 19% 18% 9% 14% 15% 10% 3% 33%
Other Income 6 8 22 8 5 6 7 21 3 5 11 14
Interest 17 8 2 14 23 17 8 17 16 9 5 10
Depreciation 23 24 25 24 24 25 25 27 28 28 28 28
Profit before tax 95 117 154 229 134 119 84 218 177 95 14 309
Tax % 23% 22% 22% -25% 20% 18% 17% -8% 24% 21% -56% 23%
Net Profit 74 91 120 286 107 98 70 235 135 75 22 238
EPS in Rs 3.22 3.98 5.27 12.51 4.85 4.44 3.18 10.67 6.12 3.57 1.07 11.33

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,698 2,977 2,310 3,275 2,665 2,987 2,757 3,460 4,343 4,286 4,741 4,812
1,245 2,444 2,071 2,854 2,446 2,860 2,346 2,561 3,891 3,597 4,059 4,098
Operating Profit 453 532 239 421 219 126 411 899 452 689 682 714
OPM % 27% 18% 10% 13% 8% 4% 15% 26% 10% 16% 14% 15%
Other Income 12 10 27 42 21 15 -127 -5 28 43 39 33
Interest 108 149 147 144 118 102 67 55 52 41 64 39
Depreciation 108 168 111 108 109 116 110 105 95 96 101 112
Profit before tax 249 226 8 211 13 -76 108 734 332 595 555 596
Tax % 9% 27% 15% 23% 71% 24% 7% 19% 33% 4% 8% 21%
Net Profit 227 164 7 162 4 -58 100 592 221 571 509 470
EPS in Rs 8.82 6.42 0.27 6.63 0.15 -2.36 4.09 25.20 9.68 24.98 23.15 22.37
Dividend Payout % 34% 12% 0% 30% 0% 0% 0% 14% 26% 10% 11% 11%
Compounded Sales Growth
10 Years:5%
5 Years:12%
3 Years:3%
TTM:1%
Compounded Profit Growth
10 Years:10%
5 Years:15%
3 Years:29%
TTM:-6%
Stock Price CAGR
10 Years:19%
5 Years:24%
3 Years:71%
1 Year:145%
Return on Equity
10 Years:17%
5 Years:25%
3 Years:23%
Last Year:19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
26 26 24 24 24 24 24 24 23 23 22 21
Reserves 1,150 1,272 1,194 1,299 1,194 1,105 1,207 1,518 1,564 2,060 2,348 2,543
Borrowings 972 2,007 1,984 1,760 1,524 1,675 1,661 1,782 990 1,734 1,482 1,135
461 507 1,006 1,143 1,415 1,099 804 672 1,084 841 896 863
Total Liabilities 2,609 3,812 4,209 4,226 4,157 3,903 3,697 3,995 3,661 4,657 4,749 4,562
1,770 1,710 1,612 1,521 1,522 1,375 1,339 1,412 1,446 1,422 1,624 1,599
CWIP 7 6 0 5 0 8 86 6 11 46 12 14
Investments 127 4 44 43 41 41 48 45 83 120 185 177
705 2,092 2,551 2,657 2,594 2,479 2,224 2,532 2,121 3,070 2,927 2,772
Total Assets 2,609 3,812 4,209 4,226 4,157 3,903 3,697 3,995 3,661 4,657 4,749 4,562

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
642 -619 195 555 462 -76 147 346 1,180 -523 850 649
-23 -126 -55 -8 -63 -23 -147 -117 -159 -159 -305 -81
-499 745 -283 -371 -447 38 -72 -233 -1,020 682 -546 -569
Net Cash Flow 120 0 -144 177 -48 -62 -72 -4 0 -0 -1 -1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 16% 14% 5% 11% 5% 1% 12% 26% 13% 20% 16% 17%
Debtor Days 4 11 23 20 9 19 26 17 15 38 18 19
Inventory Turnover 2.29 2.22 1.02 1.30 1.05 1.34 1.12 1.04 1.69 1.49 1.52 1.48

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
40.98 40.98 40.98 40.98 41.10 41.10 41.10 41.10 41.10 41.21 41.21 41.21
18.46 13.55 17.55 20.59 26.38 26.39 24.84 22.64 19.04 20.26 20.06 21.57
8.25 4.30 4.98 7.76 7.79 10.33 11.62 12.75 12.39 11.39 13.99 15.06
32.30 41.16 36.49 30.67 24.73 22.18 22.44 23.51 27.47 27.14 24.73 22.16

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