Ganesh Benzoplast Ltd

Ganesh Benzoplast Ltd

₹ 183 3.53%
28 Mar - close price
About

The company is an independent Liquid Storage Tank (LST) provider with 83 storage tanks since 1993 and is a Manufacturer & exporter of food preservatives, lubricant additives & specialty chemicals since 1986.[1]

Key Points

Business Segment
1. Liquid Storage Terminal (LST) Division: It provides storage tanks that are leased on rent for storing liquid chemicals, acids, phenol, oil products & edible oils. It has a total of 80 tanks across Terminals located at JNPT ( Navi Mumbai), Cochin, and Goa with a Liquid bulk storage capacity of 3 lakh KL. This segment includes Rail Logistics, Engineering, Procurement, And Construction (EPC), and Clean Energy. [1] [2]
2. Chemical: They deal in food preservatives, lubricant additives & specialty chemicals. It has two facilities at MIDC Tarapur with a capacity of 24,000 MTPA. It enjoys a virtual monopoly of pure Benzoic Acid & its derivatives in India. [3]

  • Market Cap 1,283 Cr.
  • Current Price 183
  • High / Low 217 / 135
  • Stock P/E 20.6
  • Book Value 60.3
  • Dividend Yield 0.00 %
  • ROCE 22.1 %
  • ROE 18.0 %
  • Face Value 1.00

Pros

  • Debtor days have improved from 37.2 to 22.1 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -1.95%

* 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: Miscellaneous Industry: Miscellaneous

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
67 97 78 82 102 96 92 96 99 134 122 103 106
46 80 61 71 85 79 72 76 75 111 97 77 82
Operating Profit 20 18 17 10 17 16 20 20 24 23 25 25 24
OPM % 31% 18% 22% 13% 17% 17% 22% 21% 24% 17% 20% 25% 23%
-1 0 0 0 1 1 1 3 2 1 3 2 2
Interest 1 1 1 1 1 1 1 1 2 0 3 1 -0
Depreciation 4 5 4 3 3 4 4 4 4 5 5 5 5
Profit before tax 14 12 13 7 14 12 17 18 20 20 21 21 21
Tax % 22% 210% 25% 38% 23% 30% 27% 24% 27% 25% 26% 27% 23%
11 -13 9 4 11 9 12 14 15 15 15 16 16
EPS in Rs 1.79 -2.10 1.50 0.69 1.69 1.36 1.97 2.17 2.23 2.26 2.38 2.29 2.36
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
169 211 247 270 357 421 465
117 155 183 191 296 333 367
Operating Profit 52 56 63 79 61 88 98
OPM % 31% 27% 26% 29% 17% 21% 21%
52 -2 -7 -4 2 8 8
Interest 11 10 9 7 4 4 4
Depreciation 12 12 13 15 15 17 19
Profit before tax 81 31 34 53 45 74 83
Tax % 0% 0% 0% 59% 28% 26%
81 31 34 22 33 55 62
EPS in Rs 15.58 6.04 6.50 3.51 5.24 8.45 9.29
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 20%
3 Years: 19%
TTM: 22%
Compounded Profit Growth
10 Years: %
5 Years: 13%
3 Years: 10%
TTM: 27%
Stock Price CAGR
10 Years: 40%
5 Years: 31%
3 Years: 42%
1 Year: 14%
Return on Equity
10 Years: %
5 Years: 19%
3 Years: 15%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 6 6 6 6 6 7 7
Reserves 75 106 140 226 259 342 404
86 66 62 59 26 62 58
72 73 63 87 107 123 121
Total Liabilities 239 251 271 378 398 533 589
152 164 165 232 233 277 275
CWIP 8 12 11 12 20 44 82
Investments 1 1 1 2 16 18 20
77 74 94 132 129 194 212
Total Assets 239 251 271 378 398 533 589

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
39 60 27 57 86 41
-19 -27 -13 -40 -59 -62
-21 -30 -14 -9 -25 15
Net Cash Flow -1 3 0 7 2 -7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 70 54 52 55 34 22
Inventory Days 28 21 25 61 20 99
Days Payable 343 228 180 238 127 101
Cash Conversion Cycle -244 -153 -104 -122 -72 20
Working Capital Days -49 -50 0 34 6 30
ROCE % 26% 26% 26% 17% 22%

Shareholding Pattern

Numbers in percentages

10 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
43.14% 43.14% 44.41% 44.41% 44.51% 44.68% 42.80% 42.80% 42.80% 40.97% 40.97% 39.01%
0.21% 0.21% 0.21% 0.21% 0.64% 0.66% 1.01% 3.37% 2.92% 2.94% 2.97% 5.17%
0.15% 0.15% 0.15% 0.15% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.00% 0.00%
56.50% 56.50% 55.24% 55.24% 54.85% 54.65% 56.20% 53.83% 54.29% 56.08% 56.07% 55.83%
No. of Shareholders 40,22041,12340,81039,99441,81540,63040,45240,53041,17343,41744,16044,160

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Concalls