Bhansali Engineering Polymers Ltd

₹ 139 -0.96%
Jan 27 11:12 a.m.
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

Revenue Breakup
The company deals with single business segment viz. ABS and SAN polymers with trading in styrene.[1]

Acrylonitrile Butadiene Styrene (ABS) - 71%
Other than plastic granules (ABS/SAN) - 29%[2]

  • Market Cap 2,310 Cr.
  • Current Price 139
  • High / Low 222 / 126
  • Stock P/E 5.27
  • Book Value 52.2
  • Dividend Yield 1.40 %
  • ROCE 86.2 %
  • ROE 64.4 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 83.18% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 39.77%

Cons

  • Debtor days have increased from 66.55 to 82.14 days.

* 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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021
350 313 280 260 251 99 308 411 473 232 375 342
343 284 260 236 239 103 262 227 254 131 211 244
Operating Profit 7 29 20 25 13 -3 46 184 219 101 164 98
OPM % 2% 9% 7% 9% 5% -3% 15% 45% 46% 43% 44% 29%
Other Income 6 5 -0 1 0 5 2 2 2 5 4 6
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 2 2 2 3 3 3 3 3 2 2 3 2
Profit before tax 11 32 17 23 10 -1 46 183 219 103 165 101
Tax % 72% 32% -17% 26% 25% -7% 22% 26% 25% 25% 25% 25%
Net Profit 3 22 20 17 8 -1 36 136 163 77 124 76
EPS in Rs 0.18 1.33 1.23 1.02 0.47 -0.08 2.14 8.21 9.85 4.66 7.45 4.56

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
601 531 626 1,032 1,225 1,104 1,292 1,422
576 494 563 877 1,146 1,018 845 840
Operating Profit 25 37 63 154 79 86 447 582
OPM % 4% 7% 10% 15% 6% 8% 35% 41%
Other Income 2 3 8 14 8 6 11 17
Interest 14 11 10 8 1 0 1 1
Depreciation 5 6 5 6 7 10 10 10
Profit before tax 8 23 57 155 78 83 446 588
Tax % 40% 29% 37% 35% 40% 19% 25%
Net Profit 5 16 35 100 47 67 334 440
EPS in Rs 0.29 0.98 2.14 6.03 2.85 4.04 20.13 26.52
Dividend Payout % 34% 10% 9% 5% 18% 12% 5%
Compounded Sales Growth
10 Years: %
5 Years: 19%
3 Years: 8%
TTM: 33%
Compounded Profit Growth
10 Years: %
5 Years: 83%
3 Years: 49%
TTM: 147%
Stock Price CAGR
10 Years: 20%
5 Years: 43%
3 Years: 29%
1 Year: 8%
Return on Equity
10 Years: %
5 Years: 39%
3 Years: 40%
Last Year: 64%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
17 17 17 17 17 17 17 17
Reserves 168 110 145 241 282 340 665 849
Borrowings 42 32 137 -0 -0 -0 -0 -0
169 191 121 166 230 297 96 139
Total Liabilities 396 349 420 423 529 653 777 1,005
122 82 93 107 144 150 141 137
CWIP -0 -0 -0 6 -0 2 -0 -0
Investments -0 -0 0 1 1 2 2 2
274 267 326 309 384 500 634 866
Total Assets 396 349 420 423 529 653 777 1,005

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
36 56 78 192 53 88 88
-6 -35 -12 -16 -55 -43 -5
-33 -23 -65 -149 -7 -10 -9
Net Cash Flow -3 -2 2 27 -8 35 74

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 89 91 80 66 67 51 82
Inventory Days 54 74 94 39 36 85 60
Days Payable 116 158 67 62 70 111 19
Cash Conversion Cycle 27 6 107 43 33 25 123
Working Capital Days 54 44 114 44 45 44 107
ROCE % 18% 29% 58% 28% 25% 86%

Shareholding Pattern

Numbers in percentages

Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021
55.00 55.00 55.00 55.00 56.45 56.45 56.45 56.45 56.45 56.45 56.45 56.45
2.75 2.70 2.41 1.76 1.10 0.71 0.43 0.90 0.95 2.55 1.88 1.54
1.69 0.58 0.29 0.44 0.17 0.17 0.02 0.16 0.02 0.02 0.02 0.02
40.56 41.72 42.30 42.80 42.28 42.67 43.10 42.48 42.58 40.98 41.65 41.99

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