Gujarat State Fertilizers & Chemicals Ltd

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Gujarat State Fertilizers & Chemicals Ltd

₹ 227 0.42%
16 Apr 11:37 a.m.
gsfclimited.com BSE: 500690 NSE : GSFC
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

Market Leader in Carpolactam
GSFC is a market leader in the value chain of Carpolactam, Nylon 6 virgin polymer and its compounds. The compounds of Nylon 6 are used in diverse performance applications ranging from consumer durables and automotives.[1]

Website BSE NSE
  • Market Cap ₹ 9,045 Cr.
  • Current Price ₹ 227
  • High / Low ₹ 322 / 122
  • Stock P/E 11.8
  • Book Value ₹ 310
  • Dividend Yield 4.41 %
  • ROCE 13.1 %
  • ROE 10.6 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.73 times its book value
  • Stock is providing a good dividend yield of 4.41%.
  • Company has delivered good profit growth of 21.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.7%

Cons

  • Company has a low return on equity of 8.47% over last 3 years.
  • Earnings include an other income of Rs.359 Cr.

* 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

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
2,146 1,740 1,851 2,532 2,667 2,035 3,018 2,488 3,479 2,384 2,063 3,119 2,008
2,018 1,597 1,650 2,201 2,297 1,616 2,493 2,097 3,133 2,058 1,921 2,881 1,900
Operating Profit 128 143 201 331 370 418 525 391 346 326 142 237 108
OPM % 6% 8% 11% 13% 14% 21% 17% 16% 10% 14% 7% 8% 5%
38 69 22 65 32 65 32 73 20 28 51 197 83
Interest 6 6 2 3 2 3 3 3 6 3 2 2 1
Depreciation 44 44 44 45 45 44 45 46 46 45 45 46 46
Profit before tax 115 162 176 348 356 435 509 415 313 305 146 387 144
Tax % 16% 7% 23% 34% 31% 34% 32% 31% -31% 26% 23% 20% 18%
97 150 136 231 246 286 346 285 410 225 112 309 118
EPS in Rs 2.44 3.76 3.42 5.80 6.16 7.17 8.68 7.16 10.29 5.64 2.82 7.75 2.96
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 Mar 2023 TTM
2,828 3,317 5,386 5,311 6,108 5,265 6,266 8,491 7,798 7,634 9,085 11,369 9,573
2,273 2,839 4,819 4,719 5,451 4,775 5,701 7,742 7,477 7,063 7,764 9,781 8,760
Operating Profit 555 478 567 592 657 489 565 749 321 571 1,321 1,588 813
OPM % 20% 14% 11% 11% 11% 9% 9% 9% 4% 7% 15% 14% 8%
142 143 120 101 65 61 99 107 105 184 183 152 359
Interest 86 76 45 18 31 65 51 61 115 43 10 15 7
Depreciation 142 143 145 101 97 104 119 126 171 177 179 182 182
Profit before tax 470 402 496 575 594 382 493 669 141 535 1,315 1,543 983
Tax % 30% 21% 31% 30% 31% -11% 4% 26% 22% 16% 32% 18%
327 316 349 409 416 424 474 493 110 450 899 1,266 764
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 31.77 19.17
Dividend Payout % 11% 11% 23% 21% 21% 21% 18% 18% 44% 19% 11% 31%
Compounded Sales Growth
10 Years: %
5 Years: 13%
3 Years: 13%
TTM: -13%
Compounded Profit Growth
10 Years: %
5 Years: 22%
3 Years: 124%
TTM: -42%
Stock Price CAGR
10 Years: 15%
5 Years: 17%
3 Years: 35%
1 Year: 78%
Return on Equity
10 Years: %
5 Years: 7%
3 Years: 8%
Last Year: 11%

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 Mar 2023 Sep 2023
Equity Capital 80 80 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 11,960 12,264
1,086 965 789 744 1,288 805 1,093 1,069 1,559 37 6 2 2
997 876 1,571 1,250 1,558 1,666 1,918 2,074 1,702 1,887 2,347 1,867 2,356
Total Liabilities 3,363 3,394 6,583 6,500 8,390 9,091 10,315 10,464 10,123 11,164 14,125 13,909 14,703
1,448 1,330 2,016 1,958 1,656 2,022 2,108 2,821 2,902 2,804 2,680 2,580 2,506
CWIP 6 6 186 261 405 273 763 187 107 117 158 200 263
Investments 281 338 859 898 1,740 2,530 2,790 2,376 2,087 4,331 6,314 5,329 5,652
1,628 1,720 3,521 3,383 4,590 4,266 4,654 5,079 5,026 3,912 4,973 5,801 6,281
Total Assets 3,363 3,394 6,583 6,500 8,390 9,091 10,315 10,464 10,123 11,164 14,125 13,909 14,703

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 Mar 2023
141 429 1,575 260 -243 911 358 508 -8 1,783 237 924
4 -28 -413 -134 -173 -238 -484 -281 -266 -23 -18 -39
-175 -232 -938 -155 412 -656 134 -242 267 -1,559 -126 -114
Net Cash Flow -30 169 225 -30 -4 17 7 -15 -7 201 92 770

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 Mar 2023
Debtor Days 117 86 134 133 197 55 54 35 40 22 15 16
Inventory Days 126 99 77 71 56 82 80 106 96 75 95 70
Days Payable 110 63 65 39 54 70 76 67 30 40 55 34
Cash Conversion Cycle 133 122 146 164 199 67 58 74 105 57 55 52
Working Capital Days 121 107 115 131 167 177 154 125 162 108 116 92
ROCE % 20% 12% 10% 6% 7% 9% 3% 6% 13% 13%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84% 37.84%
20.49% 19.43% 20.95% 23.79% 26.38% 25.05% 22.41% 21.36% 20.54% 20.69% 19.82% 14.12%
9.42% 7.86% 7.83% 6.80% 6.17% 4.50% 2.49% 2.14% 2.57% 3.16% 3.65% 4.55%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.65% 5.65% 5.65% 5.65% 5.65% 5.65%
32.24% 34.87% 33.37% 31.57% 29.61% 32.61% 31.60% 33.01% 33.41% 32.65% 33.04% 37.84%
No. of Shareholders 1,54,4981,56,5031,48,7931,47,2631,53,2781,70,2691,85,3321,87,5701,80,8531,92,0961,98,3933,20,485

* 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

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