Heranba Industries Ltd

About

Heranba Industries is an agrochemical company. It manufacturers Synthetic Pyrethroids and its intermediates in India. These are used in insecticides, fungicides and herbicides. [1]

The company came up with an IPO in March 2021 [2].

Key Points

Heranba is an agrochemical company in India. They manufacturers Synthetic Pyrethroids and their intermediates in India. It has 4(four) manufacturing facilities across India with an employee strength of 650 (approx).

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  • Market Cap 3,130 Cr.
  • Current Price 782
  • High / Low 945 / 602
  • Stock P/E 20.3
  • Book Value 132
  • Dividend Yield 0.09 %
  • ROCE 45.3 %
  • ROE 36.3 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 55.59% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 36.66%

Cons

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Quarterly Results

Figures in Rs. Crores

Mar 2020 Jun 2020 Dec 2020 Mar 2021 Jun 2021
214 269 332 268 351
188 226 268 210 287
Operating Profit 25 43 64 58 65
OPM % 12% 16% 19% 22% 18%
Other Income 16 0 1 5 4
Interest 3 1 1 1 1
Depreciation 3 3 4 4 4
Profit before tax 36 39 60 58 64
Tax % 27% 26% 26% 25% 26%
Net Profit 26 29 45 43 47
EPS in Rs 10.80 11.84

Profit & Loss

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
514 582 741 1,004 951 1,219
470 534 653 873 822 997
Operating Profit 44 48 88 131 129 221
OPM % 9% 8% 12% 13% 14% 18%
Other Income 1 2 5 7 17 7
Interest 13 12 12 11 9 5
Depreciation 4 4 5 6 8 15
Profit before tax 28 35 76 122 129 208
Tax % 39% 41% 39% 38% 24% 26%
Net Profit 17 20 47 75 98 154
EPS in Rs 38.54
Dividend Payout % 13% 10% 9% 5% 6% 4%
Compounded Sales Growth
10 Years:%
5 Years:19%
3 Years:18%
TTM:28%
Compounded Profit Growth
10 Years:%
5 Years:56%
3 Years:49%
TTM:58%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:%
Return on Equity
10 Years:%
5 Years:35%
3 Years:37%
Last Year:36%

Balance Sheet

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
8 8 8 39 39 40
Reserves 91 108 150 189 282 488
Borrowings 96 84 76 50 43 50
130 120 217 282 261 265
Total Liabilities 325 321 450 560 625 843
37 38 46 51 95 133
CWIP 0 0 1 16 38 10
Investments 0 0 0 0 4 10
287 282 403 493 488 690
Total Assets 325 321 450 560 625 843

Cash Flows

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
52 54 60
-25 -52 -41
-26 -20 62
Net Cash Flow 1 -18 82

Ratios

Figures in Rs. Crores

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 102 78 100 92 99 102
Inventory Days 76 86 68 60 83 78
Days Payable 96 84 129 123 122 92
Cash Conversion Cycle 83 79 39 29 61 89
Working Capital Days 97 89 76 58 83 95
ROCE % 24% 41% 52% 43% 45%

Shareholding Pattern

Numbers in percentages

Mar 2021 Jun 2021
74.15 74.15
3.85 3.27
4.80 2.04
17.19 20.54

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