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 24,478 Cr.
  • Current Price 1,794
  • High / Low 1,989 / 458
  • Stock P/E 31.6
  • Book Value 172
  • Dividend Yield 0.25 %
  • ROCE 40.1 %
  • ROE 39.6 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 64.83% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 36.64%

Cons

  • Stock is trading at 10.43 times its book value

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
464 461 767 1,008 1,051 1,003 1,120 1,056 674 987 1,235 1,463
411 397 659 814 797 753 862 793 493 712 900 1,009
Operating Profit 53 64 107 194 254 250 258 262 182 276 335 455
OPM % 11% 14% 14% 19% 24% 25% 23% 25% 27% 28% 27% 31%
Other Income 1 0 1 8 12 8 15 2 7 4 5 6
Interest 12 13 26 33 31 30 27 27 25 20 16 14
Depreciation 13 13 23 29 33 35 35 36 31 31 34 56
Profit before tax 29 38 60 141 201 193 211 201 133 229 290 390
Tax % 35% 37% 34% 35% 35% 22% 26% 14% 25% 26% 25% 26%
Net Profit 19 24 40 91 132 150 157 172 99 170 217 290
EPS in Rs 1.38 1.74 2.91 6.71 9.65 11.03 11.49 12.63 7.25 12.48 15.88 21.27

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,327 1,373 1,371 1,651 2,700 4,230 4,360
1,188 1,205 1,233 1,447 2,279 3,195 3,113
Operating Profit 139 168 138 204 421 1,035 1,247
OPM % 10% 12% 10% 12% 16% 24% 29%
Other Income 2 0 81 7 11 29 22
Interest 38 40 37 47 87 118 74
Depreciation 36 40 48 53 78 140 153
Profit before tax 67 89 135 111 268 806 1,042
Tax % 21% 29% 28% 29% 35% 24% 26%
Net Profit 53 63 96 79 174 611 776
EPS in Rs 5.06 5.39 7.37 5.79 12.73 44.80 56.88
Dividend Payout % 20% 22% 16% 22% 16% 10% 10%
Compounded Sales Growth
10 Years:%
5 Years:26%
3 Years:38%
TTM:3%
Compounded Profit Growth
10 Years:%
5 Years:65%
3 Years:111%
TTM:26%
Stock Price CAGR
10 Years:58%
5 Years:85%
3 Years:93%
1 Year:256%
Return on Equity
10 Years:%
5 Years:30%
3 Years:37%
Last Year:40%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
21 23 26 27 27 27 27
Reserves 325 450 689 895 1,044 1,545 2,319
Borrowings 545 529 724 987 1,187 1,107 539
235 295 350 684 677 538 674
Total Liabilities 1,125 1,296 1,789 2,592 2,935 3,217 3,560
549 594 586 588 1,716 1,832 1,877
CWIP 44 36 349 955 34 172 207
Investments 3 87 118 32 2 2 189
530 580 736 1,018 1,183 1,210 1,287
Total Assets 1,125 1,296 1,789 2,592 2,935 3,217 3,560

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
108 167 49 183 60 765 999
-89 -169 -353 -525 -163 -428 -396
-22 4 305 345 96 -338 -596
Net Cash Flow -3 2 1 4 -6 -1 7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 14% 8% 10% 17% 38% 40%
Debtor Days 86 83 96 91 78 53 63
Inventory Turnover 8.19 6.34 4.57 4.90 6.40 6.44

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
44.63 44.63 44.63 44.85 44.85 45.64 45.64 45.69 45.69 45.69 45.69 45.69
10.45 9.93 10.66 10.28 10.73 9.40 10.16 10.96 11.48 12.74 13.26 11.87
14.56 14.07 14.60 15.53 16.32 16.45 16.01 16.19 13.54 12.00 10.51 11.64
30.35 31.36 30.11 29.34 28.10 28.50 28.19 27.16 29.28 29.56 30.53 30.80

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