GFL Ltd

GFL is engaged in manufacturing and trading of refrigerant gases, caustic soda, chloromethane, Polytetrafluoroethylene (PTFE), fluoropolymers, fluoromonomers, specialty fluorointermediates, specialty chemicals and allied activities.

Pros:
Stock is trading at 0.14 times its book value
Stock is providing a good dividend yield of 4.74%.
Company is expected to give good quarter
Company has good consistent profit growth of 49.85% over 5 years
Company has been maintaining a healthy dividend payout of 20.59%
Cons:
The company has delivered a poor growth of 10.68% over past five years.
Tax rate seems low
Company has a low return on equity of 12.00% for last 3 years.
Contingent liabilities of Rs.631.87 Cr.
Earnings include an other income of Rs.643.11 Cr.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Chemicals // Industry: Chemicals

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
1,520 1,812 1,863 1,056 875 969 992 675 1,479 1,490 661 804
1,249 1,509 1,488 852 680 784 825 524 1,183 1,130 582 611
Operating Profit 271 303 375 204 196 185 167 151 297 360 79 192
OPM % 18% 17% 20% 19% 22% 19% 17% 22% 20% 24% 12% 24%
Other Income 26 19 -180 26 44 27 9 108 39 15 579 9
Interest 60 75 75 82 79 55 63 41 57 56 42 93
Depreciation 88 90 84 74 75 76 74 41 82 84 44 80
Profit before tax 148 157 35 74 85 82 38 176 197 235 572 28
Tax % 25% 27% 313% 21% 30% 28% -62% 17% -138% 34% -1% 32%
Net Profit 111 73 -122 57 71 70 55 125 462 138 579 13
EPS in Rs 1.57 1.62 -1.06 0.83 0.84 0.84 0.88 2.07 6.61 2.20 8.14 0.27
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
926 1,267 1,257 1,442 2,816 3,147 3,431 5,310 6,972 6,288 3,893 5,698 4,434
517 688 787 1,043 1,606 2,130 2,833 4,300 5,668 5,134 3,168 4,406 3,506
Operating Profit 409 579 470 399 1,210 1,017 598 1,011 1,303 1,154 725 1,293 928
OPM % 44% 46% 37% 28% 43% 32% 17% 19% 19% 18% 19% 23% 21%
Other Income 129 28 70 100 47 31 45 318 91 -85 133 71 643
Interest 33 56 53 44 89 132 179 219 218 279 279 224 249
Depreciation 23 60 78 97 149 171 200 285 325 349 299 333 290
Profit before tax 482 491 410 358 1,019 746 264 826 852 441 279 807 1,032
Tax % 27% 26% 15% 24% 24% 26% 14% 19% 29% 51% 14% -67%
Net Profit 344 353 341 271 780 543 186 585 399 88 254 1,305 1,192
EPS in Rs 4.50 4.88 4.71 3.74 10.91 7.58 2.53 8.15 5.52 1.24 3.58 18.41 17.22
Dividend Payout % 12% 11% 11% 14% 5% 7% 21% 7% 10% 44% 15% 3%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:16.22%
5 Years:10.68%
3 Years:-6.50%
TTM:26.27%
Compounded Profit Growth
10 Years:14.07%
5 Years:49.85%
3 Years:48.94%
TTM:271.59%
Stock Price CAGR
10 Years:12.16%
5 Years:-7.83%
3 Years:-2.91%
1 Year:-45.58%
Return on Equity
10 Years:13.42%
5 Years:11.26%
3 Years:12.00%
Last Year:24.84%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
12 11 11 11 11 11 11 11 11 11 11 11
Reserves 1,109 1,363 1,671 1,897 2,707 3,148 3,286 4,224 4,443 4,507 4,756 5,966
Borrowings 523 723 619 790 1,552 2,134 2,302 2,565 2,973 3,308 2,019 2,207
486 430 664 915 914 1,174 1,511 2,599 3,173 3,153 3,134 3,362
Total Liabilities 2,130 2,527 2,965 3,613 5,184 6,468 7,110 9,400 10,600 10,979 9,920 11,546
994 1,078 1,437 1,912 2,696 3,607 3,729 4,231 4,600 3,505 3,813 4,322
CWIP 140 253 199 368 741 523 763 403 238 410 724 751
Investments 539 468 723 463 184 348 369 159 404 678 524 491
457 728 606 870 1,563 1,990 2,249 4,606 5,357 6,386 4,859 5,982
Total Assets 2,130 2,527 2,965 3,613 5,184 6,468 7,110 9,400 10,600 10,979 9,920 11,546

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
189 272 731 271 572 284 542 149 379 732 952 967
-159 -163 -635 -344 -929 -890 -471 248 -1,470 -674 589 -954
-20 65 -206 -0 601 372 -93 659 136 53 -1,668 -52
Net Cash Flow 11 174 -110 -73 244 -233 -22 1,056 -955 110 -127 -40

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 30% 30% 21% 14% 32% 18% 8% 12% 15% 12% 7% 14%
Debtor Days 60 37 31 50 38 103 101 128 151 161 182 136
Inventory Turnover 11.91 8.58 6.32 6.28 7.15 6.01 6.00 7.08 7.72 6.30 3.28 3.91