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

  • Market Cap 18,671 Cr.
  • Current Price 1,369
  • High / Low 1,444 / 310
  • Stock P/E 28.4
  • Book Value 135
  • Dividend Yield 0.33 %
  • ROCE 37.7 %
  • ROE 46.6 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 63.32% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.88%
  • Debtor days have improved from 73.87 to 52.87 days.

Cons

  • Stock is trading at 10.14 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
464 461 767 1,008 1,051 1,003 1,120 1,056 674 987 1,235
411 397 659 814 797 753 862 793 493 712 900
Operating Profit 53 64 107 194 254 250 258 262 182 276 335
OPM % 11% 14% 14% 19% 24% 25% 23% 25% 27% 28% 27%
Other Income 1 0 1 8 12 8 15 2 7 4 5
Interest 12 13 26 33 31 30 27 27 25 20 16
Depreciation 13 13 23 29 33 35 35 36 31 31 34
Profit before tax 29 38 60 141 201 193 211 201 133 229 290
Tax % 35% 37% 34% 35% 35% 22% 26% 14% 25% 26% 25%
Net Profit 19 24 40 91 132 150 157 172 99 170 217
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
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,327 1,373 1,371 1,651 2,700 4,230 3,952
1,188 1,205 1,233 1,447 2,279 3,195 2,898
Operating Profit 139 168 138 204 421 1,035 1,054
OPM % 10% 12% 10% 12% 16% 24% 27%
Other Income 2 0 81 7 11 29 18
Interest 38 40 37 47 87 118 87
Depreciation 36 40 48 53 78 140 132
Profit before tax 67 89 135 111 268 806 853
Tax % 21% 29% 28% 29% 35% 24%
Net Profit 53 63 96 79 174 611 658
EPS in Rs 5.06 5.39 7.37 5.79 12.73 44.80 48.24
Dividend Payout % 20% 22% 16% 22% 16% 10%
Compounded Sales Growth
10 Years:%
5 Years:26%
3 Years:46%
TTM:-6%
Compounded Profit Growth
10 Years:%
5 Years:63%
3 Years:137%
TTM:24%
Stock Price CAGR
10 Years:54%
5 Years:87%
3 Years:74%
1 Year:196%
Return on Equity
10 Years:%
5 Years:24%
3 Years:28%
Last Year:47%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
21 23 26 27 27 27 27
Reserves 325 450 689 895 1,044 1,545 1,813
Borrowings 545 529 724 987 1,187 1,107 697
235 295 350 684 677 538 560
Total Liabilities 1,125 1,296 1,789 2,592 2,935 3,217 3,097
549 594 586 588 1,716 1,832 1,840
CWIP 44 36 349 955 34 172 171
Investments 3 87 118 32 2 2 2
530 580 736 1,018 1,183 1,210 1,084
Total Assets 1,125 1,296 1,789 2,592 2,935 3,217 3,097

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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

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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