Himadri Speciality Chemical Ltd

Himadri Speciality Chemical Ltd

₹ 366 1.02%
23 Feb - close price
About

Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals.[1] It is the No.1 coal pitch manufacturer in India and is the only company to manufacture advanced carbon material in India. It is also the largest player of Naphthalene and SNF in India.[2]

Key Points

Product Portfolio
The Co. is a prominent player in multiple specialty carbon product segments like Coal Tar Pitch, Carbon Black, Naphthalene and Refined Naphthalene, SNF, and Specialty Oils, among others. [1] [2]

  • Market Cap 16,125 Cr.
  • Current Price 366
  • High / Low 399 / 80.2
  • Stock P/E 43.4
  • Book Value 57.7
  • Dividend Yield 0.07 %
  • ROCE 13.7 %
  • ROE 11.8 %
  • Face Value 1.00

Pros

  • Debtor days have improved from 70.2 to 44.2 days.
  • Company's working capital requirements have reduced from 95.4 days to 70.2 days

Cons

  • Stock is trading at 6.34 times its book value
  • Company has a low return on equity of 6.09% over last 3 years.
  • Dividend payout has been low at 12.9% of profits 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: Chemicals

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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
467 566 540 645 772 834 1,047 1,059 1,037 1,029 951 1,005 1,053
426 525 504 616 728 790 975 962 932 903 817 847 879
Operating Profit 41 40 36 30 44 44 72 97 105 126 134 158 174
OPM % 9% 7% 7% 5% 6% 5% 7% 9% 10% 12% 14% 16% 17%
4 3 1 3 4 -23 2 -22 8 11 10 10 10
Interest 7 7 8 8 9 11 13 20 20 13 13 16 21
Depreciation 12 12 12 12 12 13 13 13 13 12 12 12 13
Profit before tax 26 24 17 12 27 -3 48 42 79 111 119 139 150
Tax % 38% 6% 17% 24% 11% -163% 20% 15% 18% 31% 28% 28% 28%
16 23 14 9 24 -9 39 36 65 76 86 101 109
EPS in Rs 0.39 0.55 0.35 0.22 0.58 -0.17 0.92 0.86 1.55 1.76 1.96 2.29 2.47
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,144 1,353 1,395 1,437 1,182 1,341 2,022 2,422 1,806 1,679 2,791 4,172 4,037
965 1,247 1,307 1,313 1,036 1,107 1,569 1,863 1,525 1,549 2,635 3,773 3,446
Operating Profit 179 106 88 124 146 233 452 560 280 131 156 399 591
OPM % 16% 8% 6% 9% 12% 17% 22% 23% 16% 8% 6% 10% 15%
18 31 13 13 9 6 12 8 8 14 -17 -2 41
Interest 76 80 118 103 111 82 70 71 55 33 36 66 64
Depreciation 46 55 58 59 67 33 33 34 39 47 50 51 50
Profit before tax 75 2 -75 -24 -23 125 361 462 194 65 53 280 519
Tax % 24% -312% 22% 49% 19% 34% 31% 30% -6% 27% 27% 23%
57 9 -58 -13 -19 82 248 324 205 47 39 216 372
EPS in Rs 1.48 0.24 -1.48 -0.32 -0.44 1.98 5.91 7.75 4.91 1.13 0.98 4.99 8.48
Dividend Payout % 7% 41% -7% 0% -11% 5% 2% 2% 3% 13% 20% 5%
Compounded Sales Growth
10 Years: 12%
5 Years: 16%
3 Years: 32%
TTM: 2%
Compounded Profit Growth
10 Years: 38%
5 Years: -1%
3 Years: 5%
TTM: 115%
Stock Price CAGR
10 Years: 36%
5 Years: 27%
3 Years: 107%
1 Year: 334%
Return on Equity
10 Years: 8%
5 Years: 10%
3 Years: 6%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 39 39 39 39 42 42 42 42 42 42 42 43 44
Reserves 855 848 757 750 837 988 1,373 1,590 1,692 1,751 1,826 2,134 2,500
1,098 1,275 1,362 1,124 887 774 660 476 505 729 587 842 1,035
237 256 339 329 296 308 341 680 323 269 999 659 658
Total Liabilities 2,229 2,418 2,497 2,242 2,062 2,112 2,416 2,788 2,562 2,791 3,454 3,678 4,236
843 926 1,221 1,228 1,180 1,174 1,178 1,170 1,475 1,468 1,546 1,515 1,538
CWIP 272 319 59 14 31 13 22 133 158 160 77 94 66
Investments 226 112 168 23 53 87 273 179 47 66 113 132 272
887 1,061 1,048 977 798 838 943 1,305 882 1,098 1,718 1,938 2,359
Total Assets 2,229 2,418 2,497 2,242 2,062 2,112 2,416 2,788 2,562 2,791 3,454 3,678 4,236

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
95 -11 149 212 296 205 258 476 283 -40 331 54
-208 -6 -99 128 -6 10 -50 -224 -214 -114 -28 -397
114 69 -109 -348 -278 -233 -200 -257 -41 165 -182 377
Net Cash Flow 0 51 -58 -7 12 -18 8 -6 28 11 121 34

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 78 66 92 82 63 60 49 55 61 100 66 44
Inventory Days 147 138 134 122 138 164 112 124 121 100 125 61
Days Payable 20 16 36 36 50 74 39 100 68 45 127 39
Cash Conversion Cycle 205 188 191 168 151 150 122 79 113 155 65 66
Working Capital Days 180 190 145 138 105 117 95 76 73 153 63 70
ROCE % 7% 3% 2% 3% 5% 11% 22% 25% 11% 4% 5% 14%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Feb 2024
45.43% 45.43% 45.43% 45.43% 45.39% 45.39% 45.38% 45.61% 44.96% 44.86% 44.79% 50.29%
0.71% 0.84% 1.21% 1.66% 1.61% 1.97% 2.38% 2.36% 2.96% 5.12% 5.39% 4.83%
0.02% 0.01% 0.36% 0.00% 0.00% 0.01% 0.50% 0.48% 0.53% 0.50% 0.63% 0.57%
53.84% 53.73% 53.01% 52.91% 53.00% 52.64% 51.74% 51.54% 51.54% 49.53% 49.18% 44.31%
No. of Shareholders 2,67,1353,10,3543,38,6053,42,9713,49,5853,08,1662,94,2342,80,9853,06,3464,40,4154,38,4144,38,414

* 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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