DMCC Speciality Chemicals Ltd
The Dharamsi Morarji Chemical Company Limited is engaged in manufacturing of bulk chemicals and speciality chemicals used in industries such as pharmaceuticals, detergents, dyes etc. [1]
- Market Cap ₹ 860 Cr.
- Current Price ₹ 345
- High / Low ₹ 380 / 240
- Stock P/E 68.7
- Book Value ₹ 81.7
- Dividend Yield 0.00 %
- ROCE 6.81 %
- ROE 3.14 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company's working capital requirements have reduced from 25.6 days to 15.2 days
Cons
- Stock is trading at 4.22 times its book value
- Company has a low return on equity of 11.1% over last 3 years.
- Dividend payout has been low at 7.05% of profits over last 3 years
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|
175 | 178 | 228 | 188 | 200 | 326 | 385 | 337 | |
146 | 155 | 174 | 160 | 165 | 286 | 351 | 295 | |
Operating Profit | 30 | 23 | 54 | 28 | 35 | 41 | 34 | 42 |
OPM % | 17% | 13% | 24% | 15% | 18% | 12% | 9% | 12% |
1 | 1 | 1 | 6 | 8 | 6 | 5 | 5 | |
Interest | 5 | 4 | 3 | 2 | 2 | 5 | 11 | 13 |
Depreciation | 4 | 4 | 5 | 6 | 7 | 8 | 18 | 16 |
Profit before tax | 21 | 16 | 47 | 26 | 34 | 34 | 11 | 18 |
Tax % | 21% | 21% | 2% | -22% | 4% | 38% | 35% | |
17 | 12 | 46 | 31 | 33 | 21 | 7 | 13 | |
EPS in Rs | 7.80 | 4.93 | 18.50 | 12.61 | 13.06 | 8.56 | 2.78 | 5.01 |
Dividend Payout % | 0% | 10% | 8% | 0% | 15% | 6% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 17% |
3 Years: | 27% |
TTM: | -14% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | -13% |
3 Years: | -42% |
TTM: | 218% |
Stock Price CAGR | |
---|---|
10 Years: | 43% |
5 Years: | 20% |
3 Years: | 3% |
1 Year: | 16% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 18% |
3 Years: | 11% |
Last Year: | 3% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|
Equity Capital | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
Reserves | 35 | 48 | 91 | 120 | 148 | 169 | 173 | 179 |
Preference Capital | 0 | 3 | 3 | 3 | 3 | 0 | 0 | |
30 | 22 | 19 | 22 | 32 | 93 | 101 | 71 | |
59 | 62 | 54 | 45 | 58 | 97 | 102 | 109 | |
Total Liabilities | 149 | 157 | 188 | 212 | 264 | 384 | 401 | 384 |
83 | 88 | 99 | 102 | 108 | 174 | 230 | 241 | |
CWIP | 3 | 3 | 1 | 9 | 38 | 63 | 11 | 7 |
Investments | 2 | 4 | 3 | 3 | 0 | 0 | 0 | 0 |
61 | 63 | 86 | 99 | 117 | 147 | 160 | 135 | |
Total Assets | 149 | 157 | 188 | 212 | 264 | 384 | 401 | 384 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|
29 | 18 | 21 | 27 | 32 | 51 | 30 | |
-8 | -9 | -13 | -17 | -40 | -98 | -21 | |
-19 | -9 | -8 | -6 | 3 | 45 | -10 | |
Net Cash Flow | 2 | 0 | 0 | 4 | -4 | -2 | -1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|
Debtor Days | 45 | 45 | 48 | 48 | 59 | 56 | 49 |
Inventory Days | 60 | 73 | 80 | 113 | 151 | 79 | 78 |
Days Payable | 130 | 115 | 79 | 68 | 118 | 131 | 121 |
Cash Conversion Cycle | -25 | 4 | 49 | 93 | 92 | 3 | 6 |
Working Capital Days | -15 | -6 | 46 | 80 | 47 | 15 | 15 |
ROCE % | 21% | 43% | 18% | 19% | 15% | 7% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 20 Apr
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 19 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 19 Apr
- Submission Of Compliance Certificate Under Regulation 40(9) Of The SEBI (LODR) Regulations, 2015, For The Year Ended 31St March, 2024 15 Apr
- Compliance Certificate Under Regulation 7(3) Of SEBI(LODR) For The Year Ended March 31, 2024. 11 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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Nov 2023TranscriptPPT
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Aug 2023TranscriptNotesPPT
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May 2023Transcript PPT REC
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Nov 2022Transcript PPT
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Aug 2022TranscriptNotesPPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Nov 2021Transcript PPT
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Aug 2021TranscriptNotesPPT
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May 2021TranscriptPPT
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Feb 2021TranscriptNotesPPT
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Nov 2020Transcript PPT
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Aug 2020TranscriptNotesPPT
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May 2020TranscriptPPT
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May 2020Transcript PPT
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May 2020TranscriptNotesPPT
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Dec 2019TranscriptNotesPPT
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Nov 2019TranscriptPPT
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Sep 2019TranscriptNotesPPT
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Aug 2018TranscriptPPT
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Mar 2017TranscriptPPT
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Mar 2017TranscriptPPT
Business Segments
Bulk Chemicals (46% of revenues in FY22 vs 35% in FY21):
These are high volume, low margin products. The Co. manufactures Sulphuric acid, Sulphuric anhydride, Oleum and Chloro sulphonic acid which find application in detergents, dyes and fertilizers.
Speciality Chemicals (54% of revenues in FY22 vs 65% in FY21):
These chemicals are created from strong process competencies and technical skills in handling hazardous reactions and fetch higher margins. The products manufactured by the Co. include Benzene sulphonic acid, Phenol sulphonic acid, Sodium benzene sulphonate, Menthyl lactate, Thiophenol etc. [1] [2]