Borosil Ltd

Borosil Ltd

₹ 354 0.52%
22 Jul 2:05 p.m.
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 4,227 Cr.
  • Current Price 354
  • High / Low 420 / 284
  • Stock P/E 64.2
  • Book Value 50.6
  • Dividend Yield 0.00 %
  • ROCE 11.2 %
  • ROE 9.13 %
  • Face Value 1.00

Pros

  • Company has delivered good profit growth of 19.9% CAGR over last 5 years
  • Company's working capital requirements have reduced from 73.5 days to 48.9 days

Cons

  • Stock is trading at 6.99 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -2.77%
  • Company has a low return on equity of 10.0% 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 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
184.06 137.88 221.83 260.09 220.05 216.23 271.42 207.17 176.54 250.56 234.87 302.45 228.88
151.33 120.24 174.65 221.18 180.17 188.83 233.18 198.30 165.31 224.49 197.65 245.75 209.80
Operating Profit 32.73 17.64 47.18 38.91 39.88 27.40 38.24 8.87 11.23 26.07 37.22 56.70 19.08
OPM % 17.78% 12.79% 21.27% 14.96% 18.12% 12.67% 14.09% 4.28% 6.36% 10.40% 15.85% 18.75% 8.34%
5.16 1.78 3.81 8.02 -0.25 6.84 4.03 17.33 4.51 2.19 2.09 7.72 6.73
Interest 0.64 0.23 0.17 0.20 0.52 0.14 0.31 0.35 1.88 2.08 2.03 2.24 3.17
Depreciation 9.34 8.49 8.59 8.77 7.98 8.01 8.22 5.18 11.63 16.14 12.41 13.04 15.98
Profit before tax 27.91 10.70 42.23 37.96 31.13 26.09 33.74 20.67 2.23 10.04 24.87 49.14 6.66
Tax % 33.93% 117.76% 35.38% 33.43% -11.08% 25.60% 25.13% 22.98% -41.26% 36.55% 25.49% 24.11% 23.72%
18.43 -1.90 27.28 25.26 34.58 19.41 25.25 15.93 3.15 6.38 18.54 37.30 5.08
EPS in Rs 1.63 -0.21 2.35 2.17 3.02 1.69 2.20 1.39 0.28 0.63 1.62 3.25 0.44
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
361 630 577 828 1,011 942
304 545 495 682 885 810
Operating Profit 58 85 82 146 126 133
OPM % 16% 13% 14% 18% 12% 14%
11 3 17 11 34 18
Interest 10 6 2 1 2 9
Depreciation 26 38 35 34 39 54
Profit before tax 33 44 61 122 119 88
Tax % 25% 19% 31% 30% 24% 25%
25 35 42 85 90 66
EPS in Rs 0.98 3.13 3.69 7.33 7.85 5.75
Dividend Payout % 0% 0% 27% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 21%
3 Years: 18%
TTM: -7%
Compounded Profit Growth
10 Years: %
5 Years: 20%
3 Years: 18%
TTM: -5%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 24%
1 Year: -2%
Return on Equity
10 Years: %
5 Years: 9%
3 Years: 10%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 0 11 11 11 11 11
Reserves 598 637 683 756 852 569
72 51 9 1 105 165
143 140 156 186 242 335
Total Liabilities 812 839 859 955 1,211 1,080
339 327 348 276 512 548
CWIP 16 46 13 25 49 25
Investments 125 119 245 197 179 85
333 347 253 457 471 421
Total Assets 812 839 859 955 1,211 1,080

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
40 53 186 77 64 48
-14 -33 -137 -37 -177 -106
-17 -27 -45 -24 99 55
Net Cash Flow 9 -7 4 16 -14 -3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 92 51 42 33 33 35
Inventory Days 647 302 221 229 214 243
Days Payable 159 73 77 68 55 85
Cash Conversion Cycle 580 280 186 194 192 193
Working Capital Days 181 118 66 98 73 49
ROCE % 8% 8% 18% 11% 11%

Shareholding Pattern

Numbers in percentages

6 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
70.46% 70.44% 70.44% 70.40% 70.33% 70.30% 70.28% 70.27% 70.20% 70.18% 70.18% 67.41%
1.84% 2.83% 2.71% 2.12% 1.78% 2.07% 2.14% 2.15% 0.71% 0.78% 0.85% 1.87%
0.30% 0.08% 0.06% 0.13% 0.16% 0.19% 0.19% 0.19% 1.32% 1.39% 1.45% 3.81%
27.39% 26.65% 26.80% 27.35% 27.74% 27.45% 27.39% 27.40% 27.77% 27.65% 27.51% 26.91%
No. of Shareholders 64,25874,13072,90776,30178,10875,18374,37171,48775,35579,79281,12086,237

* 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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