Balrampur Chini Mills Ltd

About

Balrampur Chini Mills is engaged in transforming from an integrated sugar manufacturer to a predominantly green energy organisation.(Source : 201903 Annual Report Page No: 03)

  • Market Cap 3,457 Cr.
  • Current Price 165
  • High / Low 195 / 68.8
  • Stock P/E 6.51
  • Book Value 115
  • Dividend Yield 1.52 %
  • ROCE 15.8 %
  • ROE 22.2 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 22.70%

Cons

  • The company has delivered a poor growth of 9.68% over past five years.
  • Tax rate seems low

Peer comparison

Sector: Sugar Industry: Sugar

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2007 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
295 1,003 1,015 941 1,327 948 857 1,196 1,740 1,430 1,290
302 873 874 781 1,069 774 702 1,086 1,499 1,213 1,162
Operating Profit -8 129 141 160 258 174 155 110 241 217 128
OPM % -3% 13% 14% 17% 19% 18% 18% 9% 14% 15% 10%
Other Income 8 6 10 23 11 5 8 10 30 9 9
Interest 15 17 8 2 14 23 17 8 17 16 9
Depreciation 24 23 24 25 24 24 25 25 27 28 28
Profit before tax -39 96 119 155 232 132 121 88 227 183 99
Tax % 0% 23% 22% 22% -24% 20% 18% 17% -7% 24% 21%
Net Profit -39 74 93 121 288 106 100 72 241 139 78
EPS in Rs -1.58 3.24 4.05 5.29 12.62 4.80 4.54 3.30 10.97 6.32 3.73
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Sep 2008 Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,480 1,767 2,977 2,310 3,275 2,665 2,987 2,757 3,460 4,343 4,286 4,741 5,656
1,165 1,315 2,447 2,071 2,854 2,443 2,861 2,346 2,561 3,891 3,597 4,059 4,959
Operating Profit 315 452 530 238 421 222 126 411 899 452 689 682 697
OPM % 21% 26% 18% 10% 13% 8% 4% 15% 26% 10% 16% 14% 12%
Other Income 15 5 16 26 41 23 15 -127 -4 41 50 52 58
Interest 101 109 149 147 144 118 102 67 55 52 41 64 50
Depreciation 125 116 173 116 108 110 116 110 105 95 96 101 108
Profit before tax 104 232 224 2 210 17 -76 108 735 345 602 568 597
Tax % 24% 10% 27% 74% 23% 52% 24% 7% 19% 33% 4% 9%
Net Profit 78 209 163 0 161 8 -58 100 593 232 576 519 531
EPS in Rs 3.07 8.14 6.35 0.02 6.60 0.35 -2.37 4.09 25.23 10.14 25.21 23.61 24.32
Dividend Payout % 16% 37% 12% 0% 30% 0% 0% 0% 14% 25% 10% 11%
Compounded Sales Growth
10 Years:10%
5 Years:10%
3 Years:11%
TTM:39%
Compounded Profit Growth
10 Years:9%
5 Years:60%
3 Years:-6%
TTM:-14%
Stock Price CAGR
10 Years:8%
5 Years:17%
3 Years:2%
1 Year:6%
Return on Equity
10 Years:17%
5 Years:26%
3 Years:23%
Last Year:22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Sep 2008 Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
26 26 26 24 24 24 24 24 24 23 23 22 21
Reserves 966 1,108 1,272 1,188 1,292 1,192 1,103 1,205 1,537 1,594 2,095 2,394 2,387
Borrowings 1,380 991 2,010 1,988 1,763 1,527 1,678 1,667 1,782 990 1,734 1,482 299
413 472 507 1,007 1,144 1,416 1,099 805 685 1,093 851 910 747
Total Liabilities 2,785 2,596 3,815 4,207 4,223 4,159 3,904 3,701 4,027 3,700 4,703 4,808 3,454
1,936 1,823 1,717 1,615 1,523 1,524 1,377 1,340 1,412 1,446 1,422 1,624 1,586
CWIP 8 8 6 0 5 0 8 86 6 11 46 12 21
Investments 2 122 2 42 42 41 41 48 74 122 166 244 249
839 643 2,091 2,549 2,653 2,594 2,479 2,226 2,535 2,121 3,070 2,927 1,597
Total Assets 2,785 2,596 3,815 4,207 4,223 4,159 3,904 3,701 4,027 3,700 4,703 4,808 3,454

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Sep 2008 Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
41 664 -629 196 556 462 -76 147 346 1,180 -523 850
-81 -34 -126 -57 -9 -63 -23 -147 -117 -159 -159 -305
59 -510 756 -283 -371 -447 38 -70 -233 -1,020 682 -546
Net Cash Flow 19 120 1 -144 176 -48 -62 -70 -4 0 -0 -1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Sep 2008 Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 9% 15% 14% 5% 11% 5% 1% 12% 26% 13% 20% 16%
Debtor Days 13 4 11 23 20 9 19 26 17 15 38 18
Inventory Turnover 1.76 2.33 2.21 1.02 1.30 1.05 1.34 1.12 1.04 1.69 1.49 1.52

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
40.94 39.84 40.98 40.98 40.98 40.98 41.10 41.10 41.10 41.10 41.10 41.21
23.20 20.61 18.46 13.55 17.55 20.59 26.38 26.39 24.84 22.64 19.04 20.26
10.53 7.86 8.25 4.30 4.98 7.76 7.79 10.33 11.62 12.75 12.39 11.39
25.33 31.69 32.30 41.16 36.49 30.67 24.73 22.18 22.44 23.51 27.47 27.14

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