Gujarat Narmada Valley Fertilizers & Chemicals Ltd

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Gujarat Narmada Valley Fertilizers & Chemicals Ltd

₹ 596 -0.42%
30 May - close price
gnfc.in BSE: 500670 NSE : GNFC
About

Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), is a joint sector enterprise promoted by the Gujarat State Investments Limited (GSIL), a Government of Gujarat undertaking, and the Gujarat State Fertilizers & Chemicals Ltd.(GSFC). The company was set up in Bharuch in 1976 while its manufacturing and marketing operations were started in 1982. The company operates businesses mainly in the Industrial Chemicals, Fertilizers apart from the small presence of IT services. In the chemical segment, it has a product portfolio of various bulk chemicals that are used in industries for manufacturing various specialty chemicals as well as end products.

Key Points

Business Overview:[1]
GNFC is into the manufacturing and marketing of fertilizers, pesticides, industrial chemicals and also has an IT products division. The products and services offered by the company are-

Website BSE NSE
  • Market Cap ₹ 9,254 Cr.
  • Current Price ₹ 596
  • High / Low ₹ 798 / 484
  • Stock P/E 6.32
  • Book Value ₹ 579
  • Dividend Yield 1.68 %
  • ROCE 22.9 %
  • ROE 17.3 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Stock is trading at 1.03 times its book value
  • Company's working capital requirements have reduced from 74.1 days to 56.6 days

Cons

* 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: Chemicals Industry: Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
1,342 700 1,187 1,508 1,733 1,394 2,096 2,380 2,772 2,696 2,587 2,673 2,271
1,180 724 993 1,145 1,263 1,001 1,665 1,706 1,887 1,934 2,278 2,235 1,902
Operating Profit 163 -24 194 363 470 393 431 674 885 762 309 438 369
OPM % 12% -3% 16% 24% 27% 28% 21% 28% 32% 28% 12% 16% 16%
42 104 39 45 49 43 58 48 61 76 85 77 123
Interest 2 12 6 1 1 1 1 1 -0 2 1 1 1
Depreciation 66 66 68 70 68 70 71 76 75 76 77 76 74
Profit before tax 137 2 159 337 450 366 417 645 871 761 316 438 417
Tax % -75% 23% 13% 29% 31% 34% 32% 16% 26% 25% 25% 26% 20%
Net Profit 239 2 139 240 309 240 282 539 643 569 237 324 334
EPS in Rs 15.36 0.10 8.92 15.45 19.88 15.43 18.16 34.68 41.37 36.61 15.25 20.85 21.49
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
3,862 4,253 4,847 4,642 4,552 4,589 5,837 5,896 5,162 5,129 8,642 10,227
3,311 3,659 4,231 4,662 3,989 3,936 4,445 5,022 4,621 4,125 6,259 8,348
Operating Profit 551 593 616 -21 563 653 1,392 874 542 1,003 2,384 1,879
OPM % 14% 14% 13% -0% 12% 14% 24% 15% 10% 20% 28% 18%
30 40 45 52 252 517 140 215 153 237 209 361
Interest 34 63 92 274 297 203 100 6 5 20 3 5
Depreciation 131 149 145 209 251 251 270 263 264 272 292 303
Profit before tax 417 422 424 -452 268 715 1,162 819 425 948 2,298 1,932
Tax % 32% 35% 31% -0% 35% 27% 32% 10% -17% 27% 26% 24%
Net Profit 284 273 292 -452 173 521 790 741 499 689 1,704 1,464
EPS in Rs 18.26 17.57 18.81 -29.09 11.11 33.54 50.80 47.69 32.10 44.35 109.62 94.20
Dividend Payout % 19% 20% 19% -0% 18% 15% 15% 15% 16% 18% 9% -0%
Compounded Sales Growth
10 Years: 9%
5 Years: 12%
3 Years: 26%
TTM: 18%
Compounded Profit Growth
10 Years: 18%
5 Years: 13%
3 Years: 43%
TTM: -14%
Stock Price CAGR
10 Years: 23%
5 Years: 5%
3 Years: 66%
1 Year: -9%
Return on Equity
10 Years: 13%
5 Years: 17%
3 Years: 18%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
155 155 155 155 155 155 155 155 155 155 155 155
Reserves 2,352 2,562 2,790 2,325 3,122 3,646 4,303 4,842 5,067 5,828 7,743 8,851
1,990 3,196 3,904 3,844 3,101 1,959 303 208 860 4 2 3
1,192 1,109 2,420 2,164 2,130 2,142 2,411 2,337 2,261 2,321 2,747 2,588
Total Liabilities 5,689 7,022 9,270 8,488 8,509 7,903 7,172 7,542 8,344 8,309 10,648 11,597
1,605 1,807 4,873 4,468 4,367 4,442 4,161 3,959 3,810 3,720 3,578 3,383
CWIP 1,867 2,752 23 13 9 14 14 25 82 161 138 186
Investments 98 130 132 145 729 762 726 732 596 853 1,222 3,106
2,119 2,332 4,241 3,861 3,404 2,683 2,271 2,826 3,856 3,575 5,710 4,922
Total Assets 5,689 7,022 9,270 8,488 8,509 7,903 7,172 7,542 8,344 8,309 10,648 11,597

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
253 -160 11 490 996 1,445 1,819 701 286 1,884 1,967 1,373
-735 -808 -394 -284 36 -53 49 -310 -901 -856 -1,899 -1,229
639 889 334 -363 -1,037 -1,073 -1,400 -185 546 -934 -130 -161
Net Cash Flow 156 -79 -48 -156 -5 320 468 206 -69 95 -62 -17

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 74 101 110 107 119 88 70 77 100 36 26 13
Inventory Days 99 93 99 98 107 110 98 106 125 129 91 82
Days Payable 77 32 35 39 40 57 61 50 68 63 58 42
Cash Conversion Cycle 95 162 173 166 186 142 107 132 156 103 60 53
Working Capital Days -8 73 119 139 122 112 71 89 178 68 97 57
ROCE % 11% 9% 8% -3% 9% 10% 24% 17% 8% 16% 33% 23%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
41.18 41.18 41.18 41.18 41.18 41.18 41.18 41.18 41.18 41.18 41.18 41.18
9.94 8.71 8.55 10.04 11.68 13.75 17.27 22.39 22.64 22.39 20.47 20.01
14.91 13.87 13.60 11.23 10.31 7.31 6.61 5.24 5.34 4.97 4.77 4.97
33.96 36.23 36.67 37.54 36.83 37.76 34.93 31.19 30.83 31.45 33.58 33.83

* 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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