Borosil Ltd

Borosil Ltd

₹ 357 -1.56%
28 Mar - close price
About

Borosil Limited is a supplier of laboratory glassware, microwaveable kitchenware and opal ware in India. It sells and markets microwavable and flameproof kitchenware and glass tumblers through more than 15,000 retail outlets, and has three manufacturing facilities.
The company conducts its operations in two business segments—namely, scientific & industrial products and consumer products

Key Points

Demerger of consumer and scientific division[1][2]
The company is planning to demerge its Scientific business under the name of Borosil Scientific Limited (BSL). As a part of this scheme, they will merge its subsidiaries: Klass Pack Limited and Borosil Technologies Limited into BSL, which will be listed around Aug 2023.

  • Market Cap 4,093 Cr.
  • Current Price 357
  • High / Low 420 / 263
  • Stock P/E 43.8
  • Book Value 79.8
  • Dividend Yield 0.00 %
  • ROCE 11.2 %
  • ROE 8.97 %
  • Face Value 1.00

Pros

Cons

  • Stock is trading at 4.48 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 8.86% 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

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
190 168 116 199 237 198 198 257 207 241 226 235 302
157 136 103 156 202 162 172 219 198 204 195 198 246
Operating Profit 33 32 13 43 36 36 26 38 9 37 31 37 57
OPM % 17% 19% 11% 21% 15% 18% 13% 15% 4% 15% 14% 16% 19%
6 5 2 4 8 -1 7 4 17 5 6 2 8
Interest 0 0 0 0 0 0 0 0 0 1 1 2 2
Depreciation 8 8 7 7 7 6 6 6 5 12 13 12 13
Profit before tax 30 29 8 39 36 28 26 35 21 28 21 25 49
Tax % 28% 37% 153% 36% 34% -14% 24% 24% 23% 21% 29% 25% 24%
22 18 -4 25 24 32 20 27 16 22 15 19 37
EPS in Rs 1.91 1.57 -0.36 2.20 2.10 2.84 1.73 2.34 1.39 1.96 1.34 1.62 3.25
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
101 342 585 520 739 941 1,004
90 289 499 445 609 820 843
Operating Profit 11 53 85 75 130 122 161
OPM % 11% 16% 15% 14% 18% 13% 16%
-4 12 2 16 10 33 21
Interest 7 9 5 2 1 2 7
Depreciation 8 24 33 30 27 31 51
Profit before tax -8 32 50 60 112 122 124
Tax % 12% 26% 18% 32% 31% 23%
-7 24 41 41 77 94 94
EPS in Rs -2.63 0.92 3.61 3.57 6.78 8.23 8.17
Dividend Payout % 0% 0% 0% 28% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 56%
3 Years: 17%
TTM: 17%
Compounded Profit Growth
10 Years: %
5 Years: 97%
3 Years: 17%
TTM: 2%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 37%
1 Year: 37%
Return on Equity
10 Years: %
5 Years: 9%
3 Years: 9%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 26 0 11 11 11 11 11
Reserves -42 602 643 688 756 857 903
Preference Capital 28 0 0 0 0 0
124 61 43 1 1 95 208
53 120 113 124 153 208 244
Total Liabilities 162 783 811 825 922 1,170 1,367
89 290 267 283 209 430 425
CWIP 10 15 45 12 22 43 177
Investments 0 175 185 312 279 238 177
63 303 313 219 412 460 589
Total Assets 162 783 811 825 922 1,170 1,367

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
12 44 50 180 68 69
-57 -20 -32 -133 -36 -174
45 -17 -22 -44 -16 91
Net Cash Flow -0 7 -5 3 17 -14

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 62 86 48 38 30 32
Inventory Days 384 646 298 210 222 195
Days Payable 183 144 60 62 63 48
Cash Conversion Cycle 263 588 286 185 189 179
Working Capital Days 23 180 119 63 99 69
ROCE % 11% 9% 8% 17% 11%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
70.46% 70.46% 70.46% 70.44% 70.44% 70.40% 70.33% 70.30% 70.28% 70.27% 70.20% 70.18%
2.07% 1.97% 1.84% 2.83% 2.71% 2.12% 1.78% 2.07% 2.14% 2.15% 0.71% 0.78%
0.27% 0.27% 0.30% 0.08% 0.06% 0.13% 0.16% 0.19% 0.19% 0.19% 1.32% 1.39%
27.20% 27.30% 27.39% 26.65% 26.80% 27.35% 27.74% 27.45% 27.39% 27.40% 27.77% 27.65%
No. of Shareholders 63,55466,83064,25874,13072,90776,30178,10875,18374,37171,48775,35579,792

* 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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