BASF India Ltd

About

BASF India's portfolio consists of six segments: Agricultural Solutions, Materials, Industrial solutions, Surface Technologies, Nutrition & Care and Chemicals.(Source : 202003 Annual Report Page No:77)

  • Market Cap 15,531 Cr.
  • Current Price 3,588
  • High / Low 3,930 / 1,319
  • Stock P/E 33.8
  • Book Value 413
  • Dividend Yield 0.14 %
  • ROCE 23.0 %
  • ROE 19.0 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 27.99% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 30.37%

Cons

  • Stock is trading at 8.69 times its book value
  • Company has a low return on equity of 7.16% for last 3 years.
  • Earnings include an other income of Rs.418.47 Cr.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
1,676 1,405 1,318 1,614 2,074 2,014 1,892 1,786 2,396 2,507 2,806 3,013
1,607 1,417 1,304 1,532 1,998 1,975 1,811 1,774 2,238 2,267 2,586 2,723
Operating Profit 68 -12 14 82 76 39 82 13 158 240 219 290
OPM % 4% -1% 1% 5% 4% 2% 4% 1% 7% 10% 8% 10%
Other Income 3 10 124 -1 -5 -11 12 3 426 6 -17 3
Interest 22 19 20 24 23 21 16 12 9 6 10 3
Depreciation 37 37 36 46 46 47 43 44 43 43 42 42
Profit before tax 12 -58 83 11 3 -39 34 -41 532 197 149 248
Tax % 21% 33% -4% 27% 25% 17% -30% 23% 23% 41% 63% 21%
Net Profit 9 -38 86 8 2 -32 45 -31 411 115 56 197
EPS in Rs 2.17 -8.86 19.93 1.89 0.54 -7.48 10.34 -7.20 94.95 26.60 12.89 45.58

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,382 3,064 3,516 3,941 4,430 4,706 4,749 5,073 5,583 6,026 7,595 9,558 10,721
1,217 2,891 3,306 3,698 4,146 4,572 4,642 4,802 5,238 5,861 7,316 8,926 9,814
Operating Profit 164 173 210 242 284 133 107 271 346 165 279 633 907
OPM % 12% 6% 6% 6% 6% 3% 2% 5% 6% 3% 4% 7% 8%
Other Income 14 33 5 4 -3 39 173 27 182 139 -4 419 418
Interest 1 9 14 17 16 96 148 142 113 85 83 38 28
Depreciation 26 46 52 60 71 142 163 169 153 147 181 174 170
Profit before tax 151 150 150 169 194 -66 -30 -12 261 72 10 840 1,126
Tax % 36% 22% 33% 33% 34% -2% 0% -13% 6% -14% -131% 34%
Net Profit 97 118 101 114 128 -67 -30 -14 246 82 23 553 779
EPS in Rs 23.75 27.22 23.30 26.36 29.54 -15.46 -7.02 -3.26 56.95 18.88 5.28 127.67 180.02
Dividend Payout % 34% 29% 17% 15% 14% -26% -14% -31% 5% 26% 57% 8%
Compounded Sales Growth
10 Years:12%
5 Years:15%
3 Years:20%
TTM:38%
Compounded Profit Growth
10 Years:10%
5 Years:28%
3 Years:34%
TTM:6609%
Stock Price CAGR
10 Years:19%
5 Years:24%
3 Years:29%
1 Year:154%
Return on Equity
10 Years:4%
5 Years:6%
3 Years:7%
Last Year:19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
41 43 43 43 43 43 43 43 43 43 43 43
Reserves 825 925 1,005 1,099 1,207 1,119 1,073 1,059 1,301 1,370 1,201 1,743
Borrowings 0 129 195 370 1,067 1,600 1,349 1,275 868 912 822 285
405 697 950 1,293 1,717 1,406 1,311 1,498 1,635 1,524 2,764 3,073
Total Liabilities 1,271 1,794 2,194 2,806 4,034 4,168 3,777 3,875 3,846 3,849 4,830 5,144
243 349 393 435 526 1,351 1,289 1,222 1,117 957 965 817
CWIP 10 26 95 319 792 74 55 33 27 42 23 53
Investments 9 0 0 0 0 0 0 0 0 0 0 0
1,009 1,419 1,705 2,051 2,716 2,743 2,433 2,619 2,702 2,850 3,842 4,274
Total Assets 1,271 1,794 2,194 2,806 4,034 4,168 3,777 3,875 3,846 3,849 4,830 5,144

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
51 156 182 233 8 -96 199 221 290 -77 572 483
109 -52 -178 -383 -597 -163 199 -66 158 177 -21 182
-24 -250 12 132 588 372 -425 -133 -465 -95 -464 -592
Net Cash Flow 136 -145 15 -18 -0 113 -27 22 -16 5 87 73

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 68 63 65 63 71 72 80 77 71 63 68 79
Inventory Days 149 104 110 119 136 106 85 93 94 99 93 73
Days Payable 140 78 98 125 138 98 117 120 117 103 133 126
Cash Conversion Cycle 77 89 77 57 69 80 49 50 48 59 28 25
Working Capital Days 114 81 71 54 76 94 76 78 64 69 37 34
ROCE % 24% 16% 14% 13% 12% 0% -2% 5% 9% 1% 6% 23%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
73.33 73.33 73.33 73.33 73.33 73.33 73.33 73.33 73.33 73.33 73.33 73.33
1.65 1.75 2.07 2.05 2.21 3.55 2.90 1.47 1.72 1.96 1.97 2.22
8.78 8.94 9.01 9.07 9.06 7.68 7.77 7.10 7.22 7.76 7.66 6.63
16.24 15.97 15.59 15.54 15.39 15.44 16.00 18.09 17.73 16.94 17.03 17.82

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