Deepak Nitrite Ltd

₹ 2,025 0.63%
05 Aug - close price
About

Deepak Nitrite is a chemical manufacturing company based out of Gujarat, India. It is a leading manufacturer of organic, inorganic, fine, and specialty chemicals. It also manufactures a wide range of intermediates for use in industrial explosives, paints, cosmetics, polymers, optical brighteners, and others. [1] [2] Its manufacturing facilities are located
in the states of Gujarat, Maharashtra, and Telangana.

Key Points

Market Position
Deepak Nitrite has a *70% market share in sodium nitrite, sodium nitrate and NitroToluenes in India. [1]
The company has been successful in substituting the majority of the local market imports of Phenol and Acetone and attained a
market share of about 65% in the country. [2]
It is also
among the top three global players* for xylidines, cumidines, and oximes. [3]

  • Market Cap 27,621 Cr.
  • Current Price 2,025
  • High / Low 3,020 / 1,681
  • Stock P/E 27.7
  • Book Value 245
  • Dividend Yield 0.35 %
  • ROCE 44.5 %
  • ROE 37.4 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 87.0% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 40.1%

Cons

  • Stock is trading at 8.27 times its book value

* 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
1,051 1,003 1,120 1,056 674 987 1,235 1,463 1,526 1,681 1,722 1,872 2,058
797 753 862 793 493 712 900 1,009 1,075 1,295 1,370 1,462 1,702
Operating Profit 254 250 258 262 182 276 335 455 452 387 352 410 356
OPM % 24% 25% 23% 25% 27% 28% 27% 31% 30% 23% 20% 22% 17%
12 8 15 2 7 4 5 6 8 8 26 4 10
Interest 31 30 27 27 25 20 16 14 11 9 7 7 9
Depreciation 33 35 35 36 31 31 34 56 44 44 45 45 42
Profit before tax 201 193 211 201 133 229 290 390 405 342 325 362 315
Tax % 35% 22% 26% 14% 25% 26% 25% 26% 25% 26% 25% 26% 26%
Net Profit 132 150 157 172 99 170 217 290 303 254 242 267 235
EPS in Rs 9.65 11.03 11.49 12.63 7.25 12.48 15.88 21.27 22.19 18.65 17.78 19.59 17.20

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,327 1,373 1,371 1,651 2,700 4,230 4,360 6,802 7,334
1,187 1,204 1,231 1,447 2,278 3,194 3,108 5,196 5,829
Operating Profit 140 169 139 204 421 1,035 1,252 1,607 1,505
OPM % 11% 12% 10% 12% 16% 24% 29% 24% 21%
1 -0 80 7 11 29 20 42 47
Interest 38 40 37 47 87 118 77 36 32
Depreciation 36 40 48 53 78 140 153 178 176
Profit before tax 67 89 135 111 268 806 1,042 1,434 1,344
Tax % 21% 29% 28% 29% 35% 24% 26% 26%
Net Profit 53 63 96 79 174 611 776 1,067 999
EPS in Rs 5.06 5.39 7.37 5.79 12.73 44.80 56.88 78.20 73.22
Dividend Payout % 20% 22% 16% 22% 16% 10% 10% 9%
Compounded Sales Growth
10 Years: %
5 Years: 38%
3 Years: 36%
TTM: 41%
Compounded Profit Growth
10 Years: %
5 Years: 87%
3 Years: 82%
TTM: 2%
Stock Price CAGR
10 Years: 62%
5 Years: 68%
3 Years: 94%
1 Year: -5%
Return on Equity
10 Years: %
5 Years: 34%
3 Years: 40%
Last Year: 37%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
21 23 26 27 27 27 27 27
Reserves 325 450 689 895 1,044 1,545 2,319 3,311
545 529 724 987 1,187 1,107 590 315
235 295 350 684 677 538 630 779
Total Liabilities 1,125 1,296 1,789 2,592 2,935 3,217 3,567 4,432
549 594 586 588 1,716 1,832 1,864 1,963
CWIP 44 36 349 955 34 172 220 122
Investments 3 87 118 32 2 2 189 439
530 580 736 1,018 1,183 1,210 1,293 1,908
Total Assets 1,125 1,296 1,789 2,592 2,935 3,217 3,567 4,432

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
108 167 49 183 60 765 1,002 824
-89 -169 -353 -525 -163 -428 -396 -424
-22 4 305 345 96 -338 -599 -386
Net Cash Flow -3 2 1 4 -6 -1 7 14

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 86 83 96 91 78 53 63 61
Inventory Days 47 54 75 118 94 63 64 53
Days Payable 48 59 95 176 106 57 72 46
Cash Conversion Cycle 85 79 76 32 66 59 56 67
Working Capital Days 60 43 51 44 70 55 62 63
ROCE % 14% 8% 10% 17% 38% 40% 44%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
45.64 45.64 45.69 45.69 45.69 45.69 45.69 45.69 45.69 45.69 45.72 45.72
9.40 10.16 10.96 11.48 12.74 13.26 11.87 11.43 10.85 8.84 8.76 9.07
16.45 16.01 16.19 13.54 12.00 10.51 11.64 10.41 10.61 10.74 10.03 10.72
28.50 28.19 27.16 29.28 29.56 30.53 30.80 32.47 32.85 34.73 35.50 34.50

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