Gujarat State Fertilizers & Chemicals Ltd

₹ 130 -2.62%
23 Sep - close price
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 5,186 Cr.
  • Current Price 130
  • High / Low 199 / 105
  • Stock P/E 4.68
  • Book Value 295
  • Dividend Yield 1.92 %
  • ROCE 12.6 %
  • ROE 8.53 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.44 times its book value
  • Company is expected to give good quarter
  • Market value of investments Rs.5,315 Cr. is more than the Market Cap Rs.5,186 Cr.
  • Company has been maintaining a healthy dividend payout of 24.7%

Cons

  • The company has delivered a poor sales growth of 11.5% over past five years.
  • Company has a low return on equity of 5.57% for 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

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
1,721 2,407 1,807 1,863 1,637 2,111 2,146 1,740 1,851 2,532 2,667 2,033 3,018
1,598 2,317 1,849 1,717 1,547 1,903 2,018 1,597 1,650 2,201 2,297 1,616 2,493
Operating Profit 123 89 -41 146 90 208 128 143 201 331 370 416 525
OPM % 7% 4% -2% 8% 6% 10% 6% 8% 11% 13% 14% 20% 17%
10 56 31 12 11 68 38 69 22 65 32 67 32
Interest 30 32 26 26 19 11 6 6 2 3 2 3 3
Depreciation 42 42 44 44 44 45 44 44 44 45 45 44 45
Profit before tax 62 71 -80 88 38 220 115 162 176 348 356 435 509
Tax % 33% 12% 30% 30% 20% 22% 16% 7% 23% 34% 31% 34% 32%
Net Profit 42 62 -56 62 30 173 97 150 136 231 246 286 346
EPS in Rs 1.05 1.56 -1.41 1.55 0.76 4.34 2.44 3.76 3.42 5.80 6.16 7.17 8.68
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
2,828 3,317 5,386 5,311 6,108 5,265 6,266 8,491 7,798 7,634 9,083 10,250
2,273 2,839 4,819 4,719 5,451 4,775 5,701 7,742 7,477 7,063 7,764 8,607
Operating Profit 555 478 567 592 657 489 565 749 321 571 1,319 1,642
OPM % 20% 14% 11% 11% 11% 9% 9% 9% 4% 7% 15% 16%
142 143 120 101 65 61 99 107 105 184 185 195
Interest 86 76 45 18 31 65 51 61 115 43 10 11
Depreciation 142 143 145 101 97 104 119 126 171 177 179 179
Profit before tax 470 402 496 575 594 382 493 669 141 535 1,315 1,648
Tax % 30% 21% 31% 30% 31% -11% 4% 26% 22% 16% 32%
Net Profit 327 316 349 409 416 424 474 493 110 450 899 1,108
EPS in Rs 8.19 7.92 8.77 10.28 10.44 10.65 11.89 12.38 2.75 11.30 22.55 27.81
Dividend Payout % 11% 11% 23% 21% 21% 21% 18% 18% 44% 19% 11%
Compounded Sales Growth
10 Years: %
5 Years: 12%
3 Years: 2%
TTM: 31%
Compounded Profit Growth
10 Years: %
5 Years: 16%
3 Years: 22%
TTM: 99%
Stock Price CAGR
10 Years: 5%
5 Years: 0%
3 Years: 18%
1 Year: 10%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 6%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
80 80 80 80 80 80 80 80 80 80 80
Reserves 1,200 1,474 4,143 4,426 5,465 6,539 7,224 7,241 6,782 9,160 11,693
1,086 965 789 744 1,288 805 1,093 1,069 1,559 37 6
997 876 1,571 1,250 1,558 1,666 1,918 2,074 1,702 1,887 2,347
Total Liabilities 3,363 3,394 6,583 6,500 8,390 9,091 10,315 10,464 10,123 11,164 14,125
1,448 1,330 2,016 1,958 1,656 2,022 2,108 2,821 2,902 2,804 2,680
CWIP 6 6 186 261 405 273 763 187 107 117 158
Investments 281 338 859 898 1,740 2,530 2,790 2,376 2,087 4,331 6,314
1,628 1,720 3,521 3,383 4,590 4,266 4,654 5,079 5,026 3,912 4,973
Total Assets 3,363 3,394 6,583 6,500 8,390 9,091 10,315 10,464 10,123 11,164 14,125

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
141 429 1,575 260 -243 911 358 508 -8 1,783 237
4 -28 -413 -134 -173 -238 -484 -281 -266 -23 -18
-175 -232 -938 -155 412 -656 134 -242 267 -1,559 -126
Net Cash Flow -30 169 225 -30 -4 17 7 -15 -7 201 92

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2006 Mar 2007 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 117 86 134 133 197 55 54 35 40 22 15
Inventory Days 126 99 77 71 56 82 80 106 96 75 95
Days Payable 110 63 65 39 54 70 76 67 30 40 57
Cash Conversion Cycle 133 122 146 164 199 67 58 74 105 57 53
Working Capital Days 121 107 115 131 167 177 154 125 162 108 115
ROCE % 20% 12% 10% 6% 7% 9% 3% 6% 13%

Shareholding Pattern

Numbers in percentages

2 recently
Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 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
19.91 19.71 19.64 18.48 18.65 18.50 18.49 20.49 19.43 20.95 23.79 26.38
12.41 12.47 12.94 12.98 12.53 11.47 9.60 9.42 7.86 7.83 6.80 6.17
29.84 29.97 29.58 30.70 30.98 32.19 34.07 32.24 34.87 33.37 31.57 29.61

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