Deepak Fertilizers & Petrochemicals Corp Ltd

₹ 622 4.92%
28 Jun - close price
About

Deepak Fertilisers And Petrochemicals Corporation Limited (DFPCL) is one of the largest manufacturers of chemicals in India. It manufactures Technical Ammonium Nitrate (mining chemicals), Industrial Chemicals and Crop Nutrition. The products of the company have uses in Explosives, Mining, Infrastructure and Healthcare. The company was set up in 1979.[1] [2] [3]

Key Points

Market Position
~2nd largest manufacturer of Nitric Acid in South East Asia and the largest in India.
~Leading manufacturer and marketer of IsoPropyl Alcohol (IPA)(market share of 65% in FY 2019-20.) Only producer of the merchant IsoPropyl Alcohol (IPA) in India
~Only manufacturer of NP prill 24:24:0 fertiliser and TAN solids in India.
~Largest manufacturer of Bentonite Sulphur in India.
~Market leader in speciality and water soluble fertilisers in India.[1] [2] [3]

  • Market Cap 7,504 Cr.
  • Current Price 622
  • High / Low 730 / 344
  • Stock P/E 37.9
  • Book Value 226
  • Dividend Yield 1.21 %
  • ROCE 11.1 %
  • ROE 8.40 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 59.65%

Cons

  • Stock is trading at 2.75 times its book value
  • The company has delivered a poor sales growth of 2.17% over past five years.
  • Company has a low return on equity of 6.79% for last 3 years.
  • Promoters have pledged 90.56% of their holding.
  • Promoter holding has decreased over last 3 years: -3.92%

* 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: Chemicals Industry: Chemicals

Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
536 385 327 460 489 456 422 444 675 529 524 561
514 346 299 437 335 386 350 355 589 476 433 464
Operating Profit 22 39 29 23 155 70 72 90 86 53 92 97
OPM % 4% 10% 9% 5% 32% 15% 17% 20% 13% 10% 18% 17%
3 14 38 12 4 15 13 13 16 18 29 25
Interest 18 21 22 23 21 19 21 26 22 17 13 17
Depreciation 18 20 17 17 19 18 18 18 17 17 30 16
Profit before tax -11 12 27 -6 119 48 46 59 62 37 78 89
Tax % 41% 40% 7% 175% 25% 23% 27% 17% 25% 25% 25% 27%
Net Profit -7 7 25 5 89 37 33 50 46 28 59 65
EPS in Rs -0.65 0.71 2.48 0.46 8.67 3.60 3.25 4.82 4.51 2.58 4.87 5.38

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
1,564 2,341 2,604 3,801 3,708 4,243 2,057 3,187 3,149 1,708 1,811 2,289
1,220 1,953 2,284 3,294 3,409 3,881 1,829 3,000 3,033 1,596 1,424 1,962
Operating Profit 344 388 320 507 298 362 228 187 116 112 387 327
OPM % 22% 17% 12% 13% 8% 9% 11% 6% 4% 7% 21% 14%
32 52 60 33 37 52 15 65 23 68 45 88
Interest 44 68 82 101 110 129 53 71 80 85 87 69
Depreciation 71 82 97 103 117 118 53 50 48 72 73 80
Profit before tax 261 290 201 336 108 168 137 131 11 22 272 266
Tax % 29% 27% 27% 28% 28% 28% 34% 14% 29% -40% 23% 26%
Net Profit 187 213 147 244 78 120 90 113 8 31 209 198
EPS in Rs 18.40 21.00 14.49 24.05 7.73 11.82 8.91 11.13 0.78 2.99 20.35 16.40
Dividend Payout % 24% 23% 33% 24% 45% 37% 59% 47% 334% 87% 37% 55%
Compounded Sales Growth
10 Years: 0%
5 Years: 2%
3 Years: -10%
TTM: 26%
Compounded Profit Growth
10 Years: 0%
5 Years: 17%
3 Years: 269%
TTM: -4%
Stock Price CAGR
10 Years: 17%
5 Years: 19%
3 Years: 81%
1 Year: 56%
Return on Equity
10 Years: 7%
5 Years: 6%
3 Years: 7%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
88 88 88 88 88 88 88 88 88 89 103 121
Reserves 978 1,135 1,226 1,403 1,437 1,483 1,477 1,528 1,468 1,494 1,880 2,606
786 897 1,124 962 1,384 1,948 1,329 1,368 674 801 780 570
388 497 523 706 555 925 441 653 787 570 499 488
Total Liabilities 2,240 2,617 2,961 3,159 3,464 4,445 3,335 3,637 3,017 2,954 3,262 3,785
1,017 1,307 1,413 1,388 1,351 1,263 762 719 700 1,106 1,040 1,038
CWIP 270 120 27 94 141 395 92 194 506 23 24 9
Investments 114 119 344 305 301 138 959 1,116 835 823 934 1,153
839 1,071 1,178 1,372 1,671 2,649 1,522 1,609 976 1,002 1,264 1,585
Total Assets 2,240 2,617 2,961 3,159 3,464 4,445 3,335 3,637 3,017 2,954 3,262 3,785

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
227 85 249 414 -73 -99 -7 -224 830 -34 457 392
-127 -187 -343 -62 -191 -61 106 319 -48 61 -590 -608
-28 -31 51 -357 209 318 -225 -104 -813 22 67 224
Net Cash Flow 73 -134 -44 -6 -55 158 -126 -8 -31 50 -66 8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 57 88 90 74 92 132 89 119 51 88 51 19
Inventory Days 62 50 48 46 51 66 33 30 17 26 40 27
Days Payable 26 51 42 47 29 52 51 65 69 84 78 57
Cash Conversion Cycle 92 87 97 73 114 146 72 84 -1 30 12 -11
Working Capital Days 42 61 73 51 89 127 115 83 -1 20 -5 43
ROCE % 17% 17% 12% 18% 8% 9% 6% 7% 3% 3% 14% 11%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
51.50 51.50 51.61 52.20 52.20 52.20 54.90 55.80 55.89 53.06 47.58 47.58
3.89 3.76 3.62 2.70 2.70 2.80 2.57 3.01 2.95 1.57 11.95 14.29
2.94 2.66 2.44 2.27 2.36 1.83 1.72 1.59 0.33 4.95 1.78 1.56
41.67 42.08 42.33 42.84 42.75 43.17 40.81 39.61 40.83 40.42 38.69 36.56

Documents