Indo Borax & Chemicals Ltd

₹ 124 -0.28%
02 Feb 1:11 p.m.
About

Indo Borax & Chemicals Ltd. was incorporated in the year 1980 in Asangaon and its first Boric Acid plant was established in the year 1981, followed by the establishment of a Borax plant in 1983. The company was listed in 1993. Today, Indo Borax operates a Boric Acid and Borax plant at Pithampur. The company is engaged in the manufacturing of Boron products and Lithium Hydroxide. [1]

Key Points

Product Portfolio
The Company is engaged in the manufacturing and selling of chemicals. Its product portfolio includes Boron and Lithium products which include Boric Acid Technical Grade Powder & Granular, Boric Acid IP Grade (Indian Pharmacopoeia Grade) Powder & Granular, and Lithium Hydroxide Monohydrate [1]

  • Market Cap 398 Cr.
  • Current Price 124
  • High / Low 185 / 95.0
  • Stock P/E 9.48
  • Book Value 71.2
  • Dividend Yield 0.80 %
  • ROCE 26.2 %
  • ROE 19.0 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 35.3% CAGR over last 5 years

Cons

  • Working capital days have increased from 88.1 days to 143 days

* 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

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
25 29 27 22 28 47 48 44 38 45 49 53 61
23 24 22 16 20 34 31 31 28 34 35 38 48
Operating Profit 3 4 5 7 7 13 17 13 10 11 13 15 14
OPM % 11% 16% 19% 31% 27% 28% 35% 30% 27% 25% 27% 28% 22%
1 1 2 1 1 1 1 1 0 1 1 2 2
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 3 5 7 8 8 14 17 13 11 12 14 17 15
Tax % 23% 24% 21% 27% 27% 27% 25% 26% 27% 32% 25% 24% 26%
Net Profit 3 4 5 6 6 10 13 10 8 8 11 13 11
EPS in Rs 0.84 1.19 1.62 1.79 1.82 3.13 3.93 3.07 2.43 2.56 3.28 4.01 3.58
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
40 46 66 77 87 70 67 101 128 115 144 176 207
30 37 49 62 69 57 56 83 108 97 100 128 154
Operating Profit 11 9 17 15 19 12 10 18 20 19 44 48 53
OPM % 26% 20% 26% 19% 21% 18% 15% 17% 16% 16% 31% 27% 26%
1 2 2 2 3 3 3 4 6 5 4 3 6
Interest 0 0 1 1 1 0 0 0 0 0 0 0 0
Depreciation 0 0 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 11 11 17 16 20 14 12 20 24 22 47 50 58
Tax % 32% 32% 34% 33% 32% 32% 31% 34% 28% 24% 26% 27%
Net Profit 7 7 11 10 14 9 8 13 18 17 34 36 43
EPS in Rs 2.15 2.08 3.28 2.91 4.08 2.88 2.49 4.17 5.46 5.28 10.67 11.33 13.43
Dividend Payout % 7% 7% 5% 5% 4% 5% 6% 4% 3% 4% 9% 1%
Compounded Sales Growth
10 Years: 14%
5 Years: 21%
3 Years: 11%
TTM: 18%
Compounded Profit Growth
10 Years: 18%
5 Years: 35%
3 Years: 27%
TTM: 4%
Stock Price CAGR
10 Years: 27%
5 Years: 24%
3 Years: 54%
1 Year: -15%
Return on Equity
10 Years: 16%
5 Years: 17%
3 Years: 18%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
3 3 3 3 3 3 3 3 3 3 3 3 3
Reserves 39 46 56 66 75 84 91 101 118 135 170 204 225
3 5 7 4 5 2 1 0 0 0 0 0 0
8 6 13 6 9 8 10 12 11 10 17 14 22
Total Liabilities 54 60 79 80 92 97 106 117 132 149 190 222 250
3 3 3 3 11 21 52 51 50 46 89 91 92
CWIP 0 0 0 1 2 2 1 1 1 1 1 1 1
Investments 8 21 22 35 14 32 23 20 37 18 30 4 16
42 36 54 42 65 43 29 45 44 84 70 126 140
Total Assets 54 60 79 80 92 97 106 117 132 149 190 222 250

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
2 4 1 18 0 18 21 1 15 13 16 11
3 -10 -2 -11 13 -26 -24 5 -16 26 -54 26
1 2 1 -5 -1 -4 -1 -2 -1 -1 -1 -3
Net Cash Flow 6 -5 1 3 12 -12 -4 5 -2 38 -39 34

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 23 22 17 17 25 30 28 32 27 26 22 21
Inventory Days 390 342 400 220 252 221 70 59 53 56 176 309
Days Payable 42 40 47 31 35 39 35 19 9 15 31 23
Cash Conversion Cycle 371 324 370 206 242 211 63 72 71 66 166 307
Working Capital Days 165 148 142 103 139 120 46 74 66 40 81 143
ROCE % 26% 22% 30% 23% 26% 16% 13% 20% 21% 17% 30% 26%

Shareholding Pattern

Numbers in percentages

2 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
55.42 55.42 55.42 55.42 55.42 55.42 55.42 55.42 55.42 54.19 53.78 53.78
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.04 0.06 0.09 0.11
44.58 44.58 44.58 44.58 44.58 44.58 44.58 44.54 44.54 45.76 46.12 46.10

* 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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