EID Parry (India) Ltd

₹ 493 0.84%
May 20 - close price
About

EID Parry is engaged in Sugar, Nutraceuticals and ethanol production. It also has a significant presence in the Farm Inputs business including Bio pesticides through its subsidiary, Coromandel International Limited. [1]

Key Points

Business Segments
Sugar: The Co has been manufacturing sugar for more than two centuries and has expertise to manufacture sugar to critical specifications addressing specific customized needs.
Nutraceuticals: The Co creates science-based formulations of nutraceuticals supplements, functional foods, general nutrition, functional cosmetic ingredients and pharmaceutical formulations.
Sanitizers: Handkleen & Sterisafe are hand sanitization products introduced by the Co. [1]

Revenue Split (FY21)
Nutrient and allied business : 66%
Sugar: 20%
Crop protection: 11%
Other: 3 % [2]

  • Market Cap 8,750 Cr.
  • Current Price 493
  • High / Low 574 / 377
  • Stock P/E 29.6
  • Book Value 156
  • Dividend Yield 2.23 %
  • ROCE 12.2 %
  • ROE 11.1 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 29.66 to 21.30 days.

Cons

  • Stock is trading at 3.17 times its book value
  • The company has delivered a poor sales growth of 2.11% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 8.63% for last 3 years.
  • Earnings include an other income of Rs.262.19 Cr.

* 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: Sugar Industry: Sugar

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
389 440 437 608 491 529 439 564 450 438 686 922
438 465 430 447 503 521 424 407 466 440 634 740
Operating Profit -49 -25 8 161 -11 9 15 158 -16 -2 52 182
OPM % -13% -6% 2% 26% -2% 2% 4% 28% -4% -0% 8% 20%
18 76 19 27 380 217 382 122 12 117 6 127
Interest 32 34 31 39 33 23 20 17 11 13 11 10
Depreciation 29 30 31 30 31 31 31 28 28 30 30 32
Profit before tax -92 -12 -34 118 305 173 346 234 -44 72 16 267
Tax % 42% 151% 42% 42% 26% 24% 2% 28% 25% -1% -12% 16%
Net Profit -53 6 -20 69 226 131 339 169 -33 73 18 225
EPS in Rs -3.00 0.34 -1.13 3.89 12.75 7.43 19.15 9.52 -1.87 4.13 1.03 12.69

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
1,271 1,542 1,992 1,782 2,081 2,601 2,248 1,921 1,845 1,875 2,024 2,496
1,248 1,438 1,759 1,683 1,863 2,540 1,903 1,754 1,876 1,780 1,854 2,280
Operating Profit 22 104 233 99 218 61 345 167 -31 94 171 216
OPM % 2% 7% 12% 6% 10% 2% 15% 9% -2% 5% 8% 9%
167 170 373 163 171 97 157 126 372 141 1,101 262
Interest 48 64 137 196 151 167 140 113 113 136 93 46
Depreciation 74 74 108 97 102 112 111 113 114 120 120 120
Profit before tax 67 136 361 -31 136 -122 252 67 114 -20 1,058 312
Tax % -18% -1% 8% 185% -9% 24% -13% -50% -43% 109% 18% 9%
Net Profit 79 137 332 27 148 -92 284 101 163 2 865 284
EPS in Rs 4.58 7.91 18.87 1.51 8.43 -5.24 16.13 5.71 9.22 0.10 48.83 15.98
Dividend Payout % 44% 51% 32% 0% 36% 0% 25% 53% 33% 0% 0% 69%
Compounded Sales Growth
10 Years: 5%
5 Years: 2%
3 Years: 11%
TTM: 23%
Compounded Profit Growth
10 Years: 8%
5 Years: 1%
3 Years: 34%
TTM: 9%
Stock Price CAGR
10 Years: 11%
5 Years: 10%
3 Years: 40%
1 Year: 18%
Return on Equity
10 Years: 8%
5 Years: 9%
3 Years: 9%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
17 17 18 18 18 18 18 18 18 18 18 18
Reserves 1,133 1,200 1,329 1,262 1,352 1,265 1,460 1,620 1,696 1,696 2,576 2,742
Borrowings 654 885 1,834 1,977 1,845 1,319 943 1,018 832 1,090 603 147
278 342 454 573 681 1,128 1,019 1,386 1,339 1,266 1,077 1,168
Total Liabilities 2,082 2,444 3,635 3,829 3,895 3,730 3,440 4,042 3,885 4,069 4,275 4,075
783 765 1,230 1,481 1,481 1,508 1,480 1,391 1,287 1,329 1,118 1,244
CWIP 32 49 62 49 24 33 8 5 11 19 112 15
Investments 434 683 871 545 683 811 786 878 979 999 1,010 1,119
833 947 1,472 1,754 1,708 1,378 1,166 1,768 1,607 1,722 2,034 1,698
Total Assets 2,082 2,444 3,635 3,829 3,895 3,730 3,440 4,042 3,885 4,069 4,275 4,075

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-108 -7 -93 146 293 945 518 -19 -4 -16 -37 439
138 -83 -188 143 -1 -95 27 45 397 -32 645 269
-29 111 261 -262 -323 -808 -594 -26 -393 57 -605 -690
Net Cash Flow -0 21 -20 27 -31 42 -48 -1 0 10 3 18

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 37 52 39 51 46 36 34 26 32 32 36 21
Inventory Days 77 90 228 319 285 147 187 316 258 274 252 207
Days Payable 39 44 71 91 89 87 72 163 108 125 80 72
Cash Conversion Cycle 76 98 197 278 242 96 150 178 182 180 208 157
Working Capital Days 160 110 177 187 152 17 12 38 21 56 116 39
ROCE % 5% 10% 9% 4% 9% 2% 15% 10% 7% 4% 14% 12%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
44.77 44.77 44.77 44.77 44.77 44.77 44.75 44.74 44.74 44.68 44.66 44.64
6.28 6.01 6.09 6.02 5.98 7.93 9.06 8.90 8.28 7.81 8.21 8.76
4.61 3.93 1.59 2.72 2.87 1.99 1.94 2.37 3.89 4.40 4.10 4.26
44.33 45.29 47.55 46.49 46.38 45.31 44.25 43.98 43.09 43.11 43.04 42.34

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