Gujarat Alkalies & Chemicals Ltd

₹ 802 -0.53%

18 Apr - close price

About

Gujarat Alkalies and Chemicals Ltd is a multi-product chemical manufacturing company and is one of the leading manufacturers of Caustic Soda Lye.^[1] Its manufacturing facilities are located at Dahej and Vadodara in Gujarat.^[2]

Key Points

Product Offerings
The Company’s products basket comprises 36+ products including Caustic Soda (Lye, Flakes & Prills), Liquid Chlorine, Chloromethanes, Hydrogen Peroxide, Caustic Potash (Lye & Flakes), Aluminium Chloride, Phosphoric Acid, etc. ^[1]

Website BSE NSE

Market Cap ₹ 5,891 Cr.
Current Price ₹ 802
High / Low ₹ 870 / 615
Stock P/E 6,619
Book Value ₹ 847
Dividend Yield 2.94 %
ROCE 13.1 %
ROE 9.43 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.95 times its book value
Company has been maintaining a healthy dividend payout of 26.1%
Debtor days have improved from 31.9 to 23.0 days.

Cons

Company has low interest coverage ratio.
Company has a low return on equity of 7.80% 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: Chemicals Industry: Chlor Alkali / Soda Ash

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	650	671	716	826	1,075	1,141	1,128	1,127	1,123	1,138	913	971	921
	572	575	589	683	709	791	747	901	858	896	858	926	914
Operating Profit	79	96	127	142	366	350	382	226	264	243	55	45	7
OPM %	12%	14%	18%	17%	34%	31%	34%	20%	24%	21%	6%	5%	1%
	17	9	15	22	3	7	6	22	6	8	12	71	5
Interest	2	9	2	1	1	1	2	3	8	8	10	11	11
Depreciation	45	44	47	49	50	52	50	60	79	88	89	95	96
Profit before tax	50	52	93	114	318	304	336	186	184	155	-33	10	-95
Tax %	32%	33%	32%	34%	36%	27%	34%	31%	38%	28%	0%	-1%	8%
	34	35	64	75	202	222	222	128	114	112	-33	10	-88
EPS in Rs	4.57	4.76	8.65	10.22	27.48	30.18	30.24	17.40	15.52	15.24	-4.56	1.41	-11.96
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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	TTM
	1,711	1,815	1,896	1,948	1,995	2,070	2,455	3,161	2,725	2,429	3,759	4,516	3,943
	1,311	1,319	1,522	1,674	1,660	1,621	1,668	2,046	2,147	2,071	2,772	3,402	3,593
Operating Profit	400	495	374	274	335	450	787	1,115	578	358	987	1,115	350
OPM %	23%	27%	20%	14%	17%	22%	32%	35%	21%	15%	26%	25%	9%
	-5	1	30	49	45	56	106	61	90	67	46	42	96
Interest	21	8	6	9	10	13	15	21	14	15	6	19	40
Depreciation	151	152	151	98	107	111	127	140	162	174	198	276	368
Profit before tax	223	337	247	215	263	382	750	1,015	492	236	829	861	37
Tax %	31%	30%	25%	-6%	16%	19%	29%	32%	32%	29%	32%	33%
	154	235	185	228	220	308	535	690	333	167	562	576	1
EPS in Rs	20.92	32.05	25.20	31.03	29.94	41.95	72.85	93.91	45.32	22.72	76.53	78.39	0.13
Dividend Payout %	14%	11%	16%	14%	15%	12%	9%	9%	18%	35%	13%	30%

Compounded Sales Growth
10 Years:	10%
5 Years:	13%
3 Years:	18%
TTM:	-13%

Compounded Profit Growth
10 Years:	9%
5 Years:	3%
3 Years:	20%
TTM:	-100%

Stock Price CAGR
10 Years:	16%
5 Years:	10%
3 Years:	25%
1 Year:	28%

Return on Equity
10 Years:	10%
5 Years:	9%
3 Years:	8%
Last Year:	9%

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	Sep 2023
Equity Capital	73	73	73	73	73	73	73	73	73	73	73	73	73
Reserves	1,534	1,740	1,890	2,063	2,855	3,283	3,749	4,223	4,524	5,304	5,831	6,237	6,150
	345	269	220	158	295	353	291	247	205	498	594	597	535
	872	822	648	693	671	726	859	988	1,090	1,282	1,484	1,599	1,692
Total Liabilities	2,826	2,904	2,831	2,988	3,895	4,437	4,972	5,532	5,893	7,157	7,983	8,506	8,450
	1,599	1,505	1,615	1,656	1,821	2,073	2,104	2,300	2,610	2,587	2,702	4,250	4,698
CWIP	43	259	30	67	83	151	252	307	445	1,109	1,787	544	39
Investments	161	172	182	193	855	1,017	1,147	1,066	1,244	2,095	2,115	2,002	2,111
	1,022	967	1,005	1,072	1,136	1,195	1,469	1,858	1,594	1,366	1,379	1,710	1,602
Total Assets	2,826	2,904	2,831	2,988	3,895	4,437	4,972	5,532	5,893	7,157	7,983	8,506	8,450

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
	348	423	242	295	201	503	515	838	630	421	735	960
	-224	-218	-167	-212	-352	-468	-395	-581	-634	-334	-804	-662
	-83	-112	-90	-88	84	13	-116	-136	-146	226	12	-140
Net Cash Flow	41	94	-14	-5	-67	49	3	122	-150	313	-58	158

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	53	55	58	57	60	58	60	56	50	43	29	23
Inventory Days	93	77	105	96	99	94	147	99	92	88	101	111
Days Payable	38	44	95	119	99	125	154	134	126	111	101	119
Cash Conversion Cycle	109	88	69	34	60	27	53	22	17	21	29	15
Working Capital Days	62	51	89	47	90	83	99	96	107	20	8	16
ROCE %	14%	18%	12%	10%	10%	11%	18%	24%	11%	5%	14%	13%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	46.28%	46.28%	46.28%	46.28%	46.28%	46.28%	46.28%	46.28%	46.28%	46.28%	46.28%	46.28%
	1.36%	1.48%	1.52%	1.82%	2.05%	1.98%	2.07%	2.07%	1.98%	1.88%	2.07%	2.10%
	2.39%	1.66%	1.63%	1.68%	1.63%	1.47%	1.45%	1.51%	1.51%	1.96%	2.17%	3.13%
	49.97%	50.58%	50.58%	50.22%	50.04%	50.27%	50.19%	50.13%	50.22%	49.88%	49.49%	48.48%
No. of Shareholders	77,198	77,227	81,474	77,773	87,428	87,083	85,354	84,097	85,393	88,020	86,698	82,719

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	46.28%	46.28%	46.28%	46.28%	46.28%	46.28%	46.28%	46.28%
	4.08%	4.04%	2.61%	2.02%	1.36%	1.82%	2.07%	2.10%
	4.05%	5.75%	6.83%	6.97%	4.01%	1.68%	1.51%	3.13%
	0.00%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	45.59%	43.68%	44.28%	44.73%	48.35%	50.22%	50.13%	48.48%
No. of Shareholders	57,142	50,385	57,005	57,582	64,304	77,773	84,097	82,719

* 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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