I G Petrochemicals Ltd

IG Petrochemicals is engaged in a Indias largest manufacturer of Phthalic Anhydride (PA).(Source : 201903 Annual Report Page No: 02)

Pros:
Stock is trading at 0.72 times its book value
Company has good consistent profit growth of 42.19% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 26.84%
Cons:
Promoter's stake has decreased
The company has delivered a poor growth of 1.60% over past five years.

Peer Comparison Sector: Chemicals // Industry: Chemicals

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
255 238 289 296 241 295 313 351 324 315 313 248
221 200 242 226 181 222 249 266 253 282 276 224
Operating Profit 34 37 47 70 60 72 64 85 71 34 37 24
OPM % 13% 16% 16% 24% 25% 25% 20% 24% 22% 11% 12% 10%
Other Income 1 1 1 1 1 1 1 -8 2 2 2 2
Interest 5 4 4 5 4 3 3 2 5 2 2 4
Depreciation 4 4 5 6 6 6 7 6 6 7 7 8
Profit before tax 26 30 39 60 52 64 55 68 62 27 29 14
Tax % 21% 22% 27% 35% 35% 36% 40% 41% 34% 36% 38% 36%
Net Profit 20 23 29 39 34 40 33 40 40 18 18 9
EPS in Rs 6.56 7.51 9.27 12.69 10.91 13.13 10.84 13.06 13.14 5.71 5.91 2.95
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
586 556 542 631 886 970 1,204 1,187 953 1,037 1,144 1,304 1,201
523 522 488 587 843 914 1,144 1,106 839 869 877 1,078 1,035
Operating Profit 63 35 54 44 43 57 61 80 113 168 267 226 166
OPM % 11% 6% 10% 7% 5% 6% 5% 7% 12% 16% 23% 17% 14%
Other Income 4 2 7 1 3 -22 -8 -14 4 3 4 -2 8
Interest 19 21 15 14 15 17 30 38 23 18 15 11 13
Depreciation 13 13 14 14 15 14 18 16 18 21 26 26 28
Profit before tax 35 2 33 17 17 4 4 11 77 132 231 186 133
Tax % 12% 24% 17% 20% 20% 21% 20% 21% 21% 23% 37% 37%
Net Profit 31 1 27 13 13 3 3 9 60 102 147 116 85
EPS in Rs 9.84 0.43 8.87 4.30 4.31 1.00 1.02 2.69 19.19 33.10 47.58 37.82 27.71
Dividend Payout % 5% 0% 0% 0% 0% 0% 0% 35% 10% 9% 8% 11%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:8.89%
5 Years:1.60%
3 Years:11.02%
TTM:0.12%
Compounded Profit Growth
10 Years:57.40%
5 Years:42.19%
3 Years:26.53%
TTM:-42.21%
Stock Price CAGR
10 Years:14.42%
5 Years:21.34%
3 Years:-14.04%
1 Year:-65.17%
Return on Equity
10 Years:17.89%
5 Years:24.33%
3 Years:26.84%
Last Year:21.14%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
31 31 31 31 31 31 31 31 31 31 31 31
Reserves 187 185 209 219 228 227 226 208 261 362 497 598
Borrowings 88 59 54 27 16 172 209 153 116 82 54 167
93 79 65 133 183 192 298 212 171 222 254 326
Total Liabilities 399 353 359 410 458 622 764 604 579 696 836 1,122
247 238 223 215 216 172 376 327 322 324 403 389
CWIP 3 4 15 19 18 172 1 1 4 11 26 216
Investments 0 0 0 0 0 0 0 0 0 19 90 113
149 111 121 176 223 279 387 276 252 343 317 404
Total Assets 399 353 359 410 458 622 764 604 579 696 836 1,122

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
76 28 23 35 32 29 28 74 70 95 198 147
-5 -9 -11 -15 -18 -134 -36 -24 -6 -43 -129 -234
-67 -39 -13 -20 8 109 1 -61 -64 -50 -67 58
Net Cash Flow 3 -20 -1 1 22 5 -6 -10 -1 2 2 -30

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 17% 8% 17% 11% 12% 14% 12% 16% 25% 34% 46% 30%
Debtor Days 31 23 29 36 43 47 53 45 42 53 44 51
Inventory Turnover 12.12 15.27 15.39 10.47 12.46 13.89 10.77 10.41 10.82 11.15 11.98 11.65