Bhansali Engineering Polymers Ltd

Bhansali Engineering Polymers Ltd

₹ 149 5.20%
16 Jul - close price
About

Bhansali Engineering Polymers Ltd is engaged in manufacturing and sale of ABS Resins, AES Resins, ASA resins, SAN resins and their alloys with other plastics in the Indian market.
Its customers include leading companies dealing in Automobiles, Home Appliances, Electronics, Healthcare and Kitchenware.[1]

Key Points

Business Overview
Company manufactures ABS (Acrylonitrile Butadiene Styrene) and SAN (Styrene Acrylonitrile) resins. ABS is used to make light, rigid, molded products such as pipe, automotive body parts, wheel covers, enclosures, and protective headgear. SAN is a plastic copolymer with thermal resistant and chemical resistant nature and its uses including housewares and consumer goods, various compounded products, packaging, appliances (electrical and electronic). [1]

  • Market Cap 3,708 Cr.
  • Current Price 149
  • High / Low 164 / 81.6
  • Stock P/E 20.3
  • Book Value 37.0
  • Dividend Yield 2.68 %
  • ROCE 24.4 %
  • ROE 18.1 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 23.4%
  • Company has been maintaining a healthy dividend payout of 92.4%

Cons

  • The company has delivered a poor sales growth of -0.05% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Petrochemicals Industry: Petrochemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
232 375 342 446 337 358 339 328 294 314 292 321 340
131 211 244 345 277 305 298 306 238 257 245 270 278
Operating Profit 101 164 98 101 60 53 41 22 57 58 47 51 62
OPM % 43% 44% 29% 23% 18% 15% 12% 7% 19% 18% 16% 16% 18%
5 3 6 4 7 7 7 8 13 9 10 9 12
Interest 0 0 0 0 0 1 0 0 0 0 0 0 0
Depreciation 2 3 2 2 2 3 3 2 2 2 2 2 2
Profit before tax 103 165 101 103 65 57 46 27 67 64 54 58 71
Tax % 25% 25% 25% 29% 26% 28% 27% 49% 24% 26% 26% 28% 25%
77 124 76 73 48 41 33 14 50 48 40 41 53
EPS in Rs 3.10 4.96 3.04 2.94 1.91 1.65 1.34 0.57 2.02 1.93 1.61 1.66 2.13
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
419 507 601 531 626 1,032 1,225 1,104 1,292 1,394 1,363 1,222 1,267
404 491 575 493 562 877 1,146 1,018 845 931 1,186 1,010 1,050
Operating Profit 15 16 25 37 64 154 79 86 447 463 177 212 217
OPM % 4% 3% 4% 7% 10% 15% 6% 8% 35% 33% 13% 17% 17%
1 1 2 3 8 14 7 6 10 19 29 41 40
Interest 11 10 14 11 10 8 1 0 1 0 1 0 0
Depreciation 4 4 5 6 5 6 7 10 10 10 10 10 10
Profit before tax 0 3 9 23 57 154 77 83 446 472 195 243 247
Tax % -441% 47% 38% 29% 37% 35% 40% 19% 25% 26% 30% 26%
1 1 5 17 36 100 47 67 333 349 136 180 183
EPS in Rs 0.05 0.06 0.22 0.67 1.43 4.00 1.87 2.68 13.40 14.04 5.46 7.22 7.33
Dividend Payout % 139% 112% 31% 10% 9% 5% 18% 12% 5% 14% 207% 55%
Compounded Sales Growth
10 Years: 9%
5 Years: 0%
3 Years: -2%
TTM: -4%
Compounded Profit Growth
10 Years: 62%
5 Years: 31%
3 Years: -19%
TTM: 32%
Stock Price CAGR
10 Years: 27%
5 Years: 28%
3 Years: 9%
1 Year: 60%
Return on Equity
10 Years: 27%
5 Years: 29%
3 Years: 23%
Last Year: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 17 17 17 17 17 17 17 17 17 17 17 25
Reserves 184 174 169 111 146 242 282 340 664 964 1,050 896
30 59 42 32 137 0 0 0 0 0 0 0
143 129 169 191 121 166 230 297 96 127 99 133
Total Liabilities 374 379 396 350 421 424 529 653 777 1,107 1,165 1,054
143 133 122 82 93 107 144 150 141 145 140 133
CWIP 0 0 0 0 0 6 0 2 0 0 0 19
Investments 0 0 1 2 2 2 2 2 2 1 1 1
231 246 273 267 326 309 384 500 634 962 1,024 902
Total Assets 374 379 396 350 421 424 529 653 777 1,107 1,165 1,054

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
42 -11 36 56 78 192 53 88 103 298 140 230
-1 -5 -6 -35 -12 -16 -55 -43 -21 -300 -15 45
-39 17 -33 -23 -65 -149 -7 -10 -9 -50 -50 -324
Net Cash Flow 2 1 -3 -2 2 27 -8 35 74 -52 75 -49

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 112 78 89 91 80 66 67 51 82 74 64 69
Inventory Days 64 77 54 74 94 39 36 85 60 96 63 60
Days Payable 141 103 116 158 67 62 70 111 19 34 23 40
Cash Conversion Cycle 35 52 27 6 107 43 33 25 123 136 104 89
Working Capital Days 67 73 54 43 114 44 45 44 107 157 136 148
ROCE % 5% 5% 9% 18% 29% 58% 28% 25% 86% 57% 19% 24%

Shareholding Pattern

Numbers in percentages

6 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
56.45% 56.45% 56.64% 56.64% 56.65% 56.65% 56.71% 57.48% 57.48% 57.48% 57.48% 57.48%
1.88% 1.54% 1.01% 0.89% 0.82% 0.85% 0.93% 1.03% 0.95% 1.13% 1.12% 2.09%
0.02% 0.02% 0.01% 0.02% 0.00% 0.00% 0.00% 0.00% 0.04% 0.05% 0.06% 0.07%
41.65% 41.99% 42.33% 42.44% 42.54% 42.50% 42.38% 41.51% 41.54% 41.35% 41.35% 40.36%
No. of Shareholders 90,8801,02,3851,09,4841,11,9081,10,1621,07,7361,05,9381,07,5251,13,6411,15,6301,22,6801,08,352

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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