Bhansali Engineering Polymers Ltd

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Bhansali Engineering Polymers is engaged in manufacturing of ABS and SAN resins which is classified under the category of Highly Specialized Engineering Thermoplastics.

  • Market Cap 2,396 Cr.
  • Current Price 144
  • High / Low 180 / 22.8
  • Stock P/E 13.4
  • Book Value 23.0
  • Dividend Yield 0.35 %
  • ROCE 25.0 %
  • ROE 20.2 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 68.51% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.17%

Cons

Peer comparison

Sector: Petrochemicals Industry: Petrochemicals

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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 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
202 350 323 350 313 280 260 251 99 308 411
174 322 306 343 284 260 236 239 103 262 227
Operating Profit 28 28 17 7 29 20 25 13 -3 46 184
OPM % 14% 8% 5% 2% 9% 7% 9% 5% -3% 15% 45%
Other Income 0 1 1 6 5 -0 1 0 5 2 2
Interest 0 0 1 0 0 0 0 0 0 0 0
Depreciation 2 2 2 2 2 2 3 3 3 3 3
Profit before tax 26 26 15 11 32 17 23 10 -1 46 183
Tax % 35% 34% 33% 72% 32% -17% 26% 25% -7% 22% 26%
Net Profit 17 17 10 3 22 20 17 8 -1 36 136
EPS in Rs 1.01 1.04 0.61 0.18 1.33 1.23 1.02 0.47 -0.08 2.14 8.21
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
601 531 626 1,032 1,225 1,104 1,070
576 494 563 877 1,146 1,018 830
Operating Profit 25 37 63 154 79 86 240
OPM % 4% 7% 10% 15% 6% 8% 22%
Other Income 2 3 8 14 8 6 9
Interest 14 11 10 8 1 0 0
Depreciation 5 6 5 6 7 10 10
Profit before tax 8 23 57 155 78 83 238
Tax % 40% 29% 37% 35% 40% 19%
Net Profit 5 16 35 100 47 67 178
EPS in Rs 0.29 0.98 2.14 6.03 2.85 4.04 10.74
Dividend Payout % 34% 10% 9% 5% 18% 12%
Compounded Sales Growth
10 Years:%
5 Years:13%
3 Years:21%
TTM:-11%
Compounded Profit Growth
10 Years:%
5 Years:69%
3 Years:23%
TTM:186%
Stock Price CAGR
10 Years:16%
5 Years:53%
3 Years:-6%
1 Year:251%
Return on Equity
10 Years:%
5 Years:24%
3 Years:26%
Last Year:20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
17 17 17 17 17 17 17
Reserves 168 110 145 241 282 340 365
Borrowings 42 32 137 0 0 0 0
169 191 121 166 230 297 145
Total Liabilities 396 349 420 423 529 653 527
122 82 93 107 144 150 146
CWIP 0 0 0 6 0 2 0
Investments 0 0 0 1 1 2 2
274 267 326 309 384 500 380
Total Assets 396 349 420 423 529 653 527

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
36 56 78 192 53 88
-6 -35 -12 -16 -55 -43
-33 -23 -65 -149 -7 -10
Net Cash Flow -3 -2 2 27 -8 35

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 18% 29% 58% 28% 25%
Debtor Days 89 91 80 66 67 51
Inventory Turnover 5.48 5.11 7.09 11.62 6.01

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
55.00 55.00 55.00 55.00 55.00 55.00 55.00 55.00 56.45 56.45 56.45 56.45
2.25 2.68 2.49 2.92 2.75 2.70 2.41 1.76 1.10 0.71 0.43 0.90
0.80 1.57 1.71 1.68 1.69 0.58 0.29 0.44 0.17 0.17 0.02 0.16
41.95 40.75 40.80 40.40 40.56 41.72 42.30 42.80 42.28 42.67 43.10 42.48

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