I G Petrochemicals Ltd

IG Petrochemicals Limited is engaged in the manufacture of Phthalic Anhydride (PAN). The Company is engaged in the manufacture and sale of organic chemicals.

Pros:
Company has reduced debt.
Company is virtually debt free.
Company has good consistent profit growth of 42.35% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 28.98%
Cons:
Promoter's stake has decreased
The company has delivered a poor growth of 3.35% over past five years.

Peer Comparison Sector: Chemicals // Industry: Chemicals

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
214.37 255.53 254.98 237.69 289.27 295.92 240.89 294.58 312.78 350.95 324.24 315.44
191.10 208.94 220.95 200.24 242.21 225.53 180.84 222.26 249.08 266.25 252.97 281.93
Operating Profit 23.27 46.59 34.03 37.45 47.06 70.39 60.05 72.32 63.70 84.70 71.27 33.51
OPM % 10.86% 18.23% 13.35% 15.76% 16.27% 23.79% 24.93% 24.55% 20.37% 24.13% 21.98% 10.62%
Other Income 1.67 0.99 0.73 0.85 0.75 1.00 0.61 1.09 1.32 -8.07 1.61 2.37
Interest 5.10 5.12 4.73 4.37 4.02 5.21 3.51 3.40 2.77 2.49 4.84 1.66
Depreciation 4.63 4.25 4.33 4.42 4.94 5.93 5.56 6.45 6.81 6.28 6.48 6.78
Profit before tax 15.21 38.21 25.70 29.51 38.85 60.25 51.59 63.56 55.44 67.86 61.56 27.44
Tax % 21.17% 21.33% 21.36% 21.62% 26.54% 35.12% 34.87% 36.38% 39.75% 40.72% 34.26% 35.93%
Net Profit 11.98 30.05 20.22 23.13 28.54 39.10 33.61 40.45 33.40 40.22 40.47 17.58
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
581 586 556 542 631 886 970 1,204 1,187 953 1,037 1,144 1,303
515 523 522 488 587 843 914 1,144 1,106 839 869 877 1,050
Operating Profit 65 63 35 54 44 43 57 61 80 113 168 267 253
OPM % 11% 11% 6% 10% 7% 5% 6% 5% 7% 12% 16% 23% 19%
Other Income 2 4 2 7 1 3 -22 -8 -14 4 3 4 -3
Interest 22 19 21 15 14 15 17 30 38 23 18 15 12
Depreciation 13 13 13 14 14 15 14 18 16 18 21 26 26
Profit before tax 33 35 2 33 17 17 4 4 11 77 132 231 212
Tax % 9% 12% 24% 17% 20% 20% 21% 20% 21% 21% 23% 37%
Net Profit 30 31 1 27 13 13 3 3 9 60 102 147 132
EPS in Rs 11.29 9.84 0.43 8.87 4.30 4.31 1.00 1.02 2.69 19.19 33.10 47.58
Dividend Payout % 0% 5% 0% 0% 0% 0% 0% 0% 35% 10% 9% 8%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:6.92%
5 Years:3.35%
3 Years:-1.21%
TTM:16.31%
Compounded Profit Growth
10 Years:16.91%
5 Years:42.35%
3 Years:69.66%
TTM:-7.08%
Return on Equity
10 Years:17.24%
5 Years:23.47%
3 Years:28.98%
Last Year:31.80%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
26 31 31 31 31 31 31 31 31 31 31 31 31
Reserves 104 141 143 171 184 198 201 204 203 261 362 497 563
Borrowings 155 88 59 54 27 16 172 209 153 116 82 54 35
115 138 120 103 167 213 219 321 217 171 222 254 299
Total Liabilities 401 399 353 359 410 458 622 764 604 579 696 836 927
268 247 238 223 215 216 172 376 327 322 324 403 395
CWIP 1 3 4 15 19 18 172 1 1 4 11 26 46
Investments 0 0 0 0 0 0 0 0 0 0 19 90 116
132 149 111 121 176 223 279 387 276 252 343 317 371
Total Assets 401 399 353 359 410 458 622 764 604 579 696 836 927

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
39 76 28 23 35 32 29 28 74 70 95 198
-1 -5 -9 -11 -15 -18 -134 -36 -24 -6 -43 -129
-27 -67 -39 -13 -20 8 109 1 -61 -64 -50 -67
Net Cash Flow 12 3 -20 -1 1 22 5 -6 -10 -1 2 2

Ratios Standalone / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 20% 20% 9% 19% 12% 13% 15% 12% 17% 25% 34% 46%
Debtor Days 14 31 23 29 36 43 47 53 45 42 53 44
Inventory Turnover 13.69 12.12 15.27 15.39 10.47 12.46 13.89 10.77 10.41 10.82 11.15 11.98