Bodal Chemicals Ltd

Bodal Chemicals Ltd

₹ 70.9 -3.34%
29 May - close price
About

Bodal Chemicals Limited is one of India’s leading integrated Dyestuff companies and is the largest domestic manufacturer of Dye Intermediates. It offers a wide range of Dyestuffs, Dye Intermediates, Basic Chemicals, and its variants to diverse customers across India and the world. [1]

Key Points

Product Portfolio:[1]
a) Basic Chemicals (~12 Products): Sulphuric Acid, Chlorosulphonic Acid, Sulphur Trioxide, Oleum 23% & 65%, Sodium Bisulphate, Acetanilide, Thionyl Chloride, Beta Naphthol, Para Nitro Aniline.
b) Dye Intermediates (~25 Products):
Vinyl Sulphone & Derivatives, H Acid, DASA, F.C. Acid, Gamma Acid, K Acid, Sulpho Tobias Acid, 4.N.A.D.P.S.A, 6-Nitro, MPDSA, Meta Ureido Aniline, 1:2:4 DIAZO
c) Dyestuffs (~175 Products):
Reactive Dyes, Acid Dyes, Direct Dyes, Liquid Dyes
d) Chlor Alkali (~6 Products):
Caustic Soda, Chlorine, Hydrogen, Hydrochloric Acid (HCL), Sodium Hypochlorite (HYPO), Stable Bleaching Powder (SBP)

  • Market Cap 893 Cr.
  • Current Price 70.9
  • High / Low 81.9 / 41.2
  • Stock P/E 18.7
  • Book Value 91.9
  • Dividend Yield 0.00 %
  • ROCE 6.68 %
  • ROE 4.23 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.77 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 10.4% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 2.65% over last 3 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
390 332 330 339 394 422 429 443 451 454 480 490 588
363 310 307 315 368 388 396 399 404 407 457 468 519
Operating Profit 27 22 23 24 25 34 33 44 47 48 23 22 69
OPM % 7% 7% 7% 7% 6% 8% 8% 10% 10% 10% 5% 4% 12%
4 9 6 5 5 2 5 1 2 4 20 15 3
Interest 12 13 13 12 16 21 20 20 21 22 20 19 18
Depreciation 15 15 14 15 17 17 17 17 17 18 17 17 17
Profit before tax 5 3 2 2 -2 -1 1 8 12 13 6 0 36
Tax % 39% 31% 26% 49% -200% -19% 124% 34% -25% 24% -8% 0% 11%
3 2 1 1 2 -1 -0 5 14 10 6 0 32
EPS in Rs 0.22 0.18 0.10 0.08 0.16 -0.09 -0.02 0.43 1.15 0.76 0.48 0.02 2.55
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,043 908 1,233 1,142 1,424 1,375 1,226 2,055 1,574 1,395 1,745 2,012
859 758 1,007 946 1,187 1,237 1,140 1,835 1,441 1,284 1,578 1,851
Operating Profit 184 150 226 196 236 138 87 220 133 111 167 161
OPM % 18% 16% 18% 17% 17% 10% 7% 11% 8% 8% 10% 8%
5 19 15 8 13 10 16 -2 12 9 2 42
Interest 27 12 9 5 9 19 17 29 41 54 82 79
Depreciation 22 26 29 12 21 28 30 47 53 60 69 70
Profit before tax 139 131 204 186 219 101 55 142 51 5 19 54
Tax % 34% 34% 35% 33% 35% 15% 28% 31% 25% -37% 4% 12%
92 86 133 122 141 86 40 99 38 6 18 48
EPS in Rs 8.41 7.88 12.18 10.03 11.72 7.12 3.43 8.51 3.03 0.51 1.47 3.80
Dividend Payout % 0% 8% 7% 8% 7% 11% 23% 9% 3% 0% 0% 0%
Compounded Sales Growth
10 Years: 8%
5 Years: 10%
3 Years: 9%
TTM: 15%
Compounded Profit Growth
10 Years: -5%
5 Years: 3%
3 Years: 9%
TTM: 74%
Stock Price CAGR
10 Years: -2%
5 Years: -7%
3 Years: 3%
1 Year: -5%
Return on Equity
10 Years: 9%
5 Years: 4%
3 Years: 3%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 22 22 22 24 24 24 24 24 25 25 25 25
Reserves 135 213 341 673 805 907 957 1,028 1,053 1,057 1,080 1,132
234 143 151 181 171 257 454 676 760 904 911 813
144 132 193 194 290 267 314 385 283 294 324 385
Total Liabilities 534 510 707 1,072 1,290 1,455 1,749 2,113 2,120 2,281 2,339 2,356
190 192 222 437 609 656 804 817 967 1,314 1,301 1,239
CWIP 3 0 9 19 26 7 14 70 193 68 61 67
Investments 2 2 17 17 6 3 6 0 0 13 0 0
339 316 459 599 650 789 924 1,227 960 886 977 1,050
Total Assets 534 510 707 1,072 1,290 1,455 1,749 2,113 2,120 2,281 2,339 2,356

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
198 131 104 7 186 10 -13 -14 290 204 114 176
-35 -23 -67 -256 -128 -79 -168 -170 -315 -278 -41 11
-162 -109 -23 236 -51 76 178 181 33 81 -73 -191
Net Cash Flow 0 -1 14 -13 7 7 -3 -3 8 7 -0 -5
Free Cash Flow 162 107 45 -221 38 -43 -191 -170 -29 -29 69 180
CFO/OP 129% 111% 76% 34% 106% 20% -4% 11% 223% 182% 65% 109%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 69 67 56 91 85 121 139 105 97 100 83 80
Inventory Days 43 57 60 59 86 91 141 141 119 139 139 106
Days Payable 62 67 73 79 91 87 102 81 72 102 97 81
Cash Conversion Cycle 50 58 43 71 79 124 178 165 144 137 125 105
Working Capital Days 23 18 21 58 50 65 73 55 49 19 20 27
ROCE % 39% 35% 46% 27% 24% 11% 5% 12% 5% 3% 6% 7%

Insights

In beta
Sep 2020
Total Production Volume (Bodal Chemicals)
Metric Tonnes ・Standalone data

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
57.39% 57.39% 57.39% 57.39% 57.39% 57.32% 57.32% 57.32% 57.32% 57.00% 57.00% 57.00%
2.37% 0.45% 0.30% 0.77% 0.19% 0.67% 0.32% 0.32% 0.81% 0.29% 0.32% 0.15%
0.01% 0.03% 0.01% 0.01% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
40.22% 42.12% 42.29% 41.82% 42.41% 42.00% 42.36% 42.35% 41.87% 42.70% 42.68% 42.84%
No. of Shareholders 66,07377,81676,86777,33277,49581,42078,83178,16375,02374,64973,08370,465

* 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.

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