Deepak Nitrite Ltd

About [ edit ]

Deepak Nitrite has 4 major segments #:
1. Basic Chemicals: Nitrites, Nitro Toluidines & Fuel Additives
2. Fine & Specialty Chemicals: Xylidines, Oximes, Cumidines and speciality agro-chemicals
3. Performance Products: brightening agents used in papers and detergents
4. Phenolics: Phenol, acetone etc

Key Points [ edit ]
  • Market Cap 21,647 Cr.
  • Current Price 1,587
  • High / Low 1,750 / 436
  • Stock P/E 58.5
  • Book Value 121
  • Dividend Yield 0.28 %
  • ROCE 47.4 %
  • ROE 43.0 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 59.27% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 17.43%

Cons

  • Stock is trading at 13.15 times its book value

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
393 421 433 452 486 550 569 585 525 350 445 488
344 365 364 386 377 366 356 371 341 253 309 342
Operating Profit 49 56 69 66 109 185 213 213 184 98 137 146
OPM % 12% 13% 16% 15% 22% 34% 37% 36% 35% 28% 31% 30%
Other Income 6 1 0 5 2 3 3 2 1 5 3 3
Interest 11 11 12 10 10 6 5 4 5 3 1 0
Depreciation 13 13 13 13 14 18 20 20 21 14 14 17
Profit before tax 31 33 44 48 87 164 191 191 160 85 124 132
Tax % 34% 35% 36% 34% 35% 35% 7% 26% 27% 25% 26% 26%
Net Profit 20 22 28 32 57 107 179 142 116 64 92 98
EPS in Rs 1.49 1.60 2.06 2.32 4.15 7.87 13.10 10.40 8.52 4.66 6.75 7.18

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
572 532 672 790 1,019 1,270 1,327 1,336 1,233 1,455 1,792 2,230 1,809
501 490 615 732 947 1,154 1,187 1,166 1,088 1,249 1,481 1,425 1,244
Operating Profit 71 42 58 58 72 116 140 170 145 206 311 804 565
OPM % 12% 8% 9% 7% 7% 9% 11% 13% 12% 14% 17% 36% 31%
Other Income 6 14 5 2 11 -0 2 -0 84 10 -1 2 11
Interest 18 8 7 11 11 28 38 39 32 42 45 22 8
Depreciation 17 18 18 18 19 30 36 39 48 52 53 78 66
Profit before tax 43 30 37 32 53 58 68 91 149 122 212 706 501
Tax % 34% 34% 30% 27% 28% 34% 21% 29% 26% 32% 35% 23%
Net Profit 28 20 26 23 38 38 53 65 111 83 138 544 370
EPS in Rs 1.91 2.47 2.21 3.62 3.67 5.11 5.60 8.46 6.12 10.12 39.89 27.11
Dividend Payout % 16% 26% 24% 27% 22% 27% 20% 21% 14% 21% 20% 11%
Compounded Sales Growth
10 Years:15%
5 Years:11%
3 Years:22%
TTM:-17%
Compounded Profit Growth
10 Years:40%
5 Years:59%
3 Years:116%
TTM:-24%
Stock Price CAGR
10 Years:56%
5 Years:87%
3 Years:85%
1 Year:246%
Return on Equity
10 Years:20%
5 Years:22%
3 Years:25%
Last Year:43%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
9 10 10 10 10 10 21 23 26 27 27 27 27
Reserves 182 209 227 242 270 297 326 453 706 917 1,031 1,464 1,619
Borrowings 90 93 62 261 341 508 545 495 574 462 328 219 39
78 110 118 189 268 245 234 290 254 397 450 344 289
Total Liabilities 358 422 417 703 890 1,061 1,126 1,261 1,559 1,802 1,835 2,054 1,974
165 166 163 181 325 461 549 593 568 569 589 720 704
CWIP 8 2 7 102 118 71 38 14 41 36 29 90 121
Investments 1 27 1 1 1 3 17 133 358 455 563 563 563
184 227 246 418 445 526 522 520 593 742 654 682 587
Total Assets 358 422 417 703 890 1,061 1,126 1,261 1,559 1,802 1,835 2,054 1,974

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
84 32 38 43 24 -14 105 191 93 214 277 515
-23 -37 6 -139 -156 -97 -87 -162 -274 -189 -78 -268
-64 6 -43 184 47 108 -22 -28 178 -25 -198 -248
Net Cash Flow -3 1 1 88 -84 -3 -4 1 -2 -0 2 -1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 22% 13% 15% 11% 10% 12% 12% 14% 9% 12% 19% 47%
Debtor Days 44 70 69 73 87 84 86 81 93 93 70 60
Inventory Turnover 6.24 5.99 8.00 8.23 8.25 7.69 7.88 7.89 5.93 5.66 5.08 4.18

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
44.65 44.63 44.63 44.63 44.85 44.85 45.64 45.64 45.69 45.69 45.69 45.69
11.14 10.45 9.93 10.66 10.28 10.73 9.40 10.16 10.96 11.48 12.74 13.26
13.81 14.56 14.07 14.60 15.53 16.32 16.45 16.01 16.19 13.54 12.00 10.51
0.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
30.23 30.35 31.36 30.11 29.34 28.10 28.50 28.19 27.16 29.28 29.56 30.53

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