Gujarat State Fertilizers & Chemicals Ltd

₹ 134 1.64%
05 Dec 4:01 p.m.
About

Incorporated in 1962, Gujarat State Fertilizers & Chemicals Ltd is a public sector company promoted by the Government of Gujarat. It is engaged in manufacturing of various fertilizers and industrial products like plastics & synthetic rubbers and man-made fibres [1]

Key Points

Products
Fertilizer Products (77%): Urea, Ammonium Sulphate, Di-Ammonium Phosphate, Ammonium Phosphate Sulphate, NPK (12:32:16), (10:26:26), traded fertilizer products etc.
Industrial products (23%): Caprolactam, Nylon-6, Nylon Filament Yarn, Nylon Chips, Melamine, Methanol, Polymer products, traded industrial products etc. [1]

  • Market Cap 5,322 Cr.
  • Current Price 134
  • High / Low 199 / 112
  • Stock P/E 4.59
  • Book Value 293
  • Dividend Yield 1.84 %
  • ROCE 12.6 %
  • ROE 8.54 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Stock is trading at 0.45 times its book value
  • Market value of investments Rs.5,315 Cr. is more than the Market Cap Rs.5,312 Cr.
  • Company has been maintaining a healthy dividend payout of 26.9%

Cons

  • The company has delivered a poor sales growth of 11.3% over past five years.
  • Company has a low return on equity of 5.42% 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.

Peer comparison

Sector: Fertilizers Industry: Fertilizers

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
2,350 1,717 1,846 1,614 2,072 2,086 1,728 1,873 2,511 2,567 2,045 3,061 2,405
2,266 1,775 1,716 1,522 1,866 1,969 1,593 1,668 2,187 2,207 1,623 2,525 2,011
Operating Profit 84 -58 129 92 205 117 135 204 324 360 422 536 394
OPM % 4% -3% 7% 6% 10% 6% 8% 11% 13% 14% 21% 18% 16%
53 30 18 10 67 33 73 20 65 30 68 30 72
Interest 32 26 26 19 11 6 6 2 3 2 3 3 3
Depreciation 42 43 43 44 44 44 44 44 45 45 44 45 46
Profit before tax 63 -98 78 40 216 100 158 178 341 343 443 519 418
Tax % 11% 25% 33% 20% 21% 17% 16% 22% 34% 32% 34% 31% 31%
Net Profit 56 -73 53 32 171 83 132 138 226 235 292 356 289
EPS in Rs 1.40 -1.84 1.32 0.80 4.29 2.08 3.31 3.46 5.68 5.89 7.33 8.93 7.26
Raw PDF

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 TTM
4,751 5,295 6,236 5,386 5,311 6,108 5,265 6,271 8,575 7,621 7,500 8,996 10,079
3,573 4,160 5,437 4,820 4,720 5,453 4,778 5,704 7,827 7,314 6,950 7,685 8,366
Operating Profit 1,178 1,135 799 566 591 656 487 567 748 307 549 1,310 1,713
OPM % 25% 21% 13% 10% 11% 11% 9% 9% 9% 4% 7% 15% 17%
101 128 137 120 102 65 57 94 105 105 183 182 200
Interest 20 20 36 45 18 31 65 51 61 115 43 10 11
Depreciation 146 129 132 145 101 97 103 119 126 170 176 178 180
Profit before tax 1,112 1,113 768 495 574 593 375 491 665 127 513 1,305 1,723
Tax % 33% 32% 33% 31% 30% 31% -12% 3% 26% 22% 19% 32%
Net Profit 749 758 518 342 401 409 420 476 494 99 418 891 1,172
EPS in Rs 18.80 19.01 13.00 8.59 10.05 10.27 10.53 11.94 12.39 2.48 10.48 22.36 29.41
Dividend Payout % 7% 8% 15% 23% 22% 21% 21% 18% 18% 48% 21% 11%
Compounded Sales Growth
10 Years: 5%
5 Years: 11%
3 Years: 2%
TTM: 23%
Compounded Profit Growth
10 Years: 1%
5 Years: 16%
3 Years: 22%
TTM: 102%
Stock Price CAGR
10 Years: 6%
5 Years: -1%
3 Years: 24%
1 Year: 14%
Return on Equity
10 Years: 7%
5 Years: 6%
3 Years: 5%
Last Year: 9%

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 Sep 2022
80 80 80 80 80 80 80 80 80 80 80 80 80
Reserves 2,749 3,437 3,862 4,111 4,385 5,426 6,495 7,182 7,188 6,718 9,064 11,589 11,602
392 617 1,505 789 744 1,288 805 1,093 1,069 1,559 37 6 107
1,112 1,433 1,471 1,566 1,244 1,543 1,648 1,885 2,015 1,667 1,838 2,301 2,482
Total Liabilities 4,333 5,566 6,918 6,545 6,452 8,337 9,028 10,240 10,351 10,024 11,019 13,975 14,271
1,261 1,425 1,365 2,016 1,958 1,653 2,019 2,105 2,813 2,895 2,798 2,674 2,634
CWIP 233 346 684 185 260 403 272 761 187 107 117 157 134
Investments 425 433 672 827 858 1,694 2,479 2,740 2,315 2,023 4,284 6,265 5,683
2,414 3,363 4,196 3,517 3,377 4,587 4,259 4,633 5,036 4,999 3,820 4,878 5,820
Total Assets 4,333 5,566 6,918 6,545 6,452 8,337 9,028 10,240 10,351 10,024 11,019 13,975 14,271

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
1,357 540 -887 1,573 258 -242 907 361 507 -24 1,769 252
-447 -396 -637 -412 -134 -170 -238 -488 -279 -266 -24 -19
-358 140 786 -938 -155 410 -656 133 -242 267 -1,560 -125
Net Cash Flow 553 285 -737 223 -31 -2 13 7 -13 -23 185 108

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 66 99 170 134 133 197 55 56 40 43 23 15
Inventory Days 80 80 62 77 70 56 82 74 90 90 69 90
Days Payable 43 61 48 65 39 54 70 75 63 29 37 55
Cash Conversion Cycle 103 118 184 147 164 199 67 55 68 104 55 50
Working Capital Days 62 82 161 115 131 174 178 154 125 167 110 115
ROCE % 37% 32% 17% 10% 12% 10% 6% 7% 9% 3% 6% 13%

Shareholding Pattern

Numbers in percentages

2 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
37.84 37.84 37.84 37.84 37.84 37.84 37.84 37.84 37.84 37.84 37.84 37.84
19.71 19.64 18.48 18.65 18.50 18.49 20.49 19.43 20.95 23.79 26.38 25.05
12.47 12.94 12.98 12.53 11.47 9.60 9.42 7.86 7.83 6.80 6.17 4.50
29.97 29.58 30.70 30.98 32.19 34.07 32.24 34.87 33.37 31.57 29.61 32.61

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

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