Gujarat Alkalies & Chemicals Ltd

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Gujarat Alkalies & Chemicals is a multi-product chemical manufacturing Company, having various products in its basket and is one of the leading manufacturer of Caustic Soda Lye.

  • Market Cap 3,182 Cr.
  • Current Price 433
  • High / Low 469 / 302
  • Stock P/E 22.1
  • Book Value 660
  • Dividend Yield 1.85 %
  • ROCE 10.8 %
  • ROE 7.49 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.66 times its book value

Cons

  • The company has delivered a poor sales growth of 6.94% over past five years.
  • Company has a low return on equity of 12.59% for last 3 years.
  • Dividend payout has been low at 11.70% of profits over last 3 years
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
697 753 772 816 821 749 699 656 622 470 638 650
404 465 494 540 547 496 547 561 542 391 534 572
Operating Profit 293 287 278 276 274 252 151 94 80 78 105 79
OPM % 42% 38% 36% 34% 33% 34% 22% 14% 13% 17% 16% 12%
Other Income 60 9 14 24 15 17 37 18 18 13 28 17
Interest 4 4 4 9 4 4 3 4 3 3 2 2
Depreciation 30 33 36 37 35 37 38 39 48 42 43 45
Profit before tax 320 259 253 254 249 228 146 70 47 46 88 50
Tax % 31% 29% 31% 36% 32% 30% 30% 14% 75% 30% 24% 32%
Net Profit 221 183 174 162 170 159 102 60 12 32 66 34
EPS in Rs 30.10 24.94 23.74 22.10 23.13 21.64 13.92 8.14 1.62 4.36 9.04 4.57

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,388 1,278 1,435 1,711 1,815 1,896 1,948 1,995 2,070 2,455 3,161 2,725 2,380
1,028 1,049 1,165 1,311 1,319 1,522 1,674 1,660 1,621 1,668 2,046 2,147 2,038
Operating Profit 360 229 269 400 495 374 274 335 450 787 1,115 578 342
OPM % 26% 18% 19% 23% 27% 20% 14% 17% 22% 32% 35% 21% 14%
Other Income 37 57 12 -5 1 30 49 45 56 106 61 90 77
Interest 26 18 21 21 8 6 9 10 13 15 21 14 10
Depreciation 109 122 133 151 152 151 98 107 111 127 140 162 178
Profit before tax 261 146 127 223 337 247 215 263 382 750 1,015 492 231
Tax % 26% -17% 10% 31% 30% 25% -6% 16% 19% 29% 32% 32%
Net Profit 192 172 114 154 235 185 228 220 308 535 690 333 144
EPS in Rs 26.18 23.40 15.56 20.92 32.05 25.20 31.03 29.94 41.95 72.85 93.91 45.32 19.59
Dividend Payout % 11% 13% 19% 14% 11% 16% 14% 15% 12% 9% 9% 18%
Compounded Sales Growth
10 Years:8%
5 Years:7%
3 Years:10%
TTM:-19%
Compounded Profit Growth
10 Years:7%
5 Years:9%
3 Years:3%
TTM:-71%
Stock Price CAGR
10 Years:12%
5 Years:20%
3 Years:-15%
1 Year:31%
Return on Equity
10 Years:11%
5 Years:12%
3 Years:13%
Last Year:7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
73 73 73 73 73 73 73 73 73 73 73 73 73
Reserves 1,171 1,318 1,406 1,534 1,740 1,890 2,063 2,855 3,283 3,749 4,223 4,524 4,771
Borrowings 339 323 352 345 269 220 158 295 353 291 247 205 110
812 818 795 872 822 648 693 671 726 859 988 1,090 1,295
Total Liabilities 2,396 2,533 2,627 2,826 2,904 2,831 2,988 3,895 4,437 4,972 5,532 5,893 6,249
1,440 1,518 1,469 1,599 1,505 1,615 1,656 1,821 2,073 2,104 2,300 2,610 2,617
CWIP 84 91 100 43 259 30 67 83 151 252 307 445 562
Investments 117 141 156 161 172 182 193 855 1,017 1,147 1,066 1,244 1,471
755 783 902 1,022 967 1,005 1,072 1,136 1,195 1,469 1,858 1,594 1,599
Total Assets 2,396 2,533 2,627 2,826 2,904 2,831 2,988 3,895 4,437 4,972 5,532 5,893 6,249

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
338 286 193 348 423 242 295 201 503 515 838 630
-337 -259 -191 -224 -218 -167 -212 -352 -468 -395 -581 -634
-29 -41 3 -83 -112 -90 -88 84 13 -116 -136 -146
Net Cash Flow -28 -14 5 41 94 -14 -5 -67 49 3 122 -150

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 20% 10% 8% 14% 18% 12% 10% 10% 11% 18% 24% 11%
Debtor Days 65 75 70 53 55 58 57 60 58 60 56 50
Inventory Turnover 5.43 4.86 6.34 6.24 6.13 6.51 6.54 6.64 6.44 5.42 5.96 6.48

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
46.28 46.28 46.28 46.28 46.28 46.28 46.28 46.28 46.28 46.28 46.28 46.28
3.79 3.53 3.24 2.61 2.25 1.94 1.85 2.02 1.38 1.48 1.33 1.36
5.82 6.13 6.52 6.83 7.61 7.72 7.68 6.97 7.14 5.66 5.21 4.01
44.11 44.06 43.97 44.28 43.86 44.06 44.19 44.73 45.20 46.58 47.18 48.35

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