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 good consistent profit growth of 42.35% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 28.91%
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

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
255.53 254.98 237.69 289.27 295.92 240.89 294.58 312.78 350.95 324.24 315.44 313.08
208.94 220.95 200.24 242.21 225.53 180.84 222.26 249.08 266.25 252.97 281.93 276.42
Operating Profit 46.59 34.03 37.45 47.06 70.39 60.05 72.32 63.70 84.70 71.27 33.51 36.66
OPM % 18.23% 13.35% 15.76% 16.27% 23.79% 24.93% 24.55% 20.37% 24.13% 21.98% 10.62% 11.71%
Other Income 0.99 0.73 0.85 0.75 1.00 0.61 1.09 1.32 -8.07 1.61 2.37 2.17
Interest 5.12 4.73 4.37 4.02 5.21 3.51 3.40 2.77 2.49 4.84 1.66 2.45
Depreciation 4.25 4.33 4.42 4.94 5.93 5.56 6.45 6.81 6.28 6.48 6.78 6.93
Profit before tax 38.21 25.70 29.51 38.85 60.25 51.59 63.56 55.44 67.86 61.56 27.44 29.45
Tax % 21.33% 21.36% 21.62% 26.54% 35.12% 34.87% 36.38% 39.75% 40.72% 34.26% 35.93% 38.20%
Net Profit 30.05 20.22 23.13 28.54 39.10 33.61 40.45 33.40 40.22 40.47 17.58 18.21
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 1,304
515 523 522 488 587 843 914 1,144 1,106 839 869 877 1,078
Operating Profit 65 63 35 54 44 43 57 61 80 113 168 267 226
OPM % 11% 11% 6% 10% 7% 5% 6% 5% 7% 12% 16% 23% 17%
Other Income 2 4 2 7 1 3 -22 -8 -14 4 3 4 -2
Interest 22 19 21 15 14 15 17 30 38 23 18 15 11
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 77 132 231 186
Tax % 9% 12% 24% 17% 20% 20% 21% 20% 21% 21% 23% 37%
Net Profit 30 31 1 27 13 13 3 3 9 60 102 147 116
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:13.94%
Compounded Profit Growth
10 Years:16.91%
5 Years:42.35%
3 Years:69.66%
TTM:-20.52%
Return on Equity
10 Years:15.87%
5 Years:22.86%
3 Years:28.91%
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 Mar 2019
26 31 31 31 31 31 31 31 31 31 31 31 31
Reserves 162 187 185 209 219 228 227 226 208 261 362 497 598
Borrowings 155 88 59 54 27 16 172 209 153 116 82 54 144
57 93 79 65 133 183 192 298 212 171 222 254 350
Total Liabilities 401 399 353 359 410 458 622 764 604 579 696 836 1,122
268 247 238 223 215 216 172 376 327 322 324 403 389
CWIP 1 3 4 15 19 18 172 1 1 4 11 26 216
Investments 0 0 0 0 0 0 0 0 0 0 19 90 113
132 149 111 121 176 223 279 387 276 252 343 317 404
Total Assets 401 399 353 359 410 458 622 764 604 579 696 836 1,122

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 % 16% 17% 8% 17% 11% 12% 14% 12% 16% 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