DCW Ltd

₹ 42.2 -0.82%
Jan 25 10:59 a.m.
About

DCW Ltd is engaged in manufacture and sale of a diverse range of products with a focus on commodity chemicals, specialty chemicals and intermediate products.[1]

It was started as Dhrangadhra Chemical Works in 1939 when it took over the India's first Soda Ash facility at Dhrangadhra which was established in 1925.[2]

Key Points

Product Portfolio
The company's product portfolio includes :-

  • Market Cap 1,103 Cr.
  • Current Price 42.2
  • High / Low 66.0 / 19.2
  • Stock P/E 30.0
  • Book Value 27.9
  • Dividend Yield 0.00 %
  • ROCE 10.3 %
  • ROE 0.56 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 3.00% over past five years.
  • Company has a low return on equity of -1.31% for last 3 years.
  • Company's cost of borrowing seems high

* 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

Standalone Figures in Rs. Crores / View Consolidated

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
322 358 316 354 314 294 285 338 386 456 521 572
291 304 267 304 275 283 252 288 329 386 463 492
Operating Profit 31 54 49 51 38 10 33 50 57 70 57 79
OPM % 10% 15% 15% 14% 12% 4% 11% 15% 15% 15% 11% 14%
Other Income 1 2 1 1 2 5 1 2 2 7 16 1
Interest 23 34 26 28 24 29 28 28 27 36 31 29
Depreciation 22 19 22 22 22 22 22 22 22 22 22 22
Profit before tax -13 3 2 2 -6 -36 -16 1 10 19 21 29
Tax % 29% -350% 16% -6% 29% 30% 38% 2% 38% 65% 35% 33%
Net Profit -9 15 2 2 -4 -25 -10 1 6 6 13 20
EPS in Rs -0.41 0.67 0.07 0.08 -0.15 -0.96 -0.38 0.04 0.24 0.25 0.51 0.75

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,023 1,057 1,183 1,327 1,324 1,253 1,263 1,176 1,187 1,353 1,277 1,464 1,934
843 959 1,058 1,078 1,194 1,187 1,113 1,029 1,061 1,190 1,130 1,255 1,670
Operating Profit 180 98 125 248 130 66 150 147 126 163 147 209 264
OPM % 18% 9% 11% 19% 10% 5% 12% 13% 11% 12% 12% 14% 14%
Other Income 2 15 5 -3 1 -0 3 2 6 3 8 11 26
Interest 39 30 34 32 27 19 58 57 93 104 107 120 123
Depreciation 49 48 51 53 51 52 69 68 88 83 87 87 88
Profit before tax 94 36 46 160 52 -5 27 25 -49 -22 -40 14 79
Tax % 28% 19% 33% 35% 27% -24% 36% 19% 59% 80% 33% 72%
Net Profit 68 29 31 105 38 -6 17 20 -20 -4 -27 4 46
EPS in Rs 3.45 1.47 1.51 5.00 1.81 -0.28 0.78 0.92 -0.91 -0.19 -1.03 0.15 1.75
Dividend Payout % 10% 24% 24% 7% 20% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 3%
5 Years: 3%
3 Years: 7%
TTM: 57%
Compounded Profit Growth
10 Years: -16%
5 Years: -26%
3 Years: 30%
TTM: 197%
Stock Price CAGR
10 Years: 16%
5 Years: 4%
3 Years: 39%
1 Year: 101%
Return on Equity
10 Years: 3%
5 Years: -1%
3 Years: -1%
Last Year: 1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
39 39 41 42 42 43 44 44 44 44 52 52 52
Reserves 335 356 384 486 515 517 591 610 591 587 626 630 676
Borrowings 313 331 447 544 671 780 847 770 814 683 605 623 602
355 369 405 477 562 507 481 529 455 504 550 570 646
Total Liabilities 1,043 1,094 1,277 1,548 1,790 1,847 1,963 1,952 1,904 1,819 1,834 1,875 1,976
642 607 687 664 661 635 1,260 1,531 1,471 1,534 1,467 1,407 1,371
CWIP 90 178 216 442 718 849 367 122 124 7 12 4 9
Investments 1 0 0 0 0 0 0 0 0 0 0 0 0
310 309 373 442 411 363 336 299 309 278 354 464 596
Total Assets 1,043 1,094 1,277 1,548 1,790 1,847 1,963 1,952 1,904 1,819 1,834 1,875 1,976

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
184 109 92 206 232 69 123 223 57 285 170 218
-38 -89 -161 -261 -325 -87 -100 -95 -13 -45 -43 -78
-146 -20 73 53 92 19 -23 -128 -44 -241 -119 -99
Net Cash Flow 0 -0 4 -2 -2 1 -1 -0 0 -0 8 41

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 36 32 23 26 26 28 34 25 26 20 21 24
Inventory Days 100 65 98 147 110 87 100 83 96 66 102 82
Days Payable 56 17 21 32 52 42 41 50 62 149 186 144
Cash Conversion Cycle 81 81 100 141 84 73 93 58 60 -63 -63 -38
Working Capital Days 13 1 3 16 -16 -8 -1 -25 -13 -45 -50 -38
ROCE % 19% 8% 10% 20% 7% 1% 6% 6% 3% 6% 5% 10%

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
47.42 47.42 47.42 46.73 46.73 46.73 46.73 46.73 46.76 46.76 46.76 46.76
6.74 6.71 6.71 5.68 5.86 5.88 5.88 6.03 5.98 6.08 6.38 6.32
3.36 3.41 3.46 3.13 2.75 2.73 1.90 0.45 0.02 0.03 0.03 0.03
42.48 42.46 42.40 44.46 44.67 44.66 45.49 46.79 47.24 47.14 46.84 46.90

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