NACL Industries Ltd

NACL Industries Ltd

₹ 82.5 1.16%
29 Mar - close price
About

NACL is an established player and they deal in both technicals and formulations and they cater to the Indian market and to the international market as well. They have over 50 products covering all major crops. They have a strong logistic presence and the products are sold in more than 55,000 counters. NACL has become one of the reliable contract manufacturers for major MNCs. NACL exports products to over 30 countries and has forayed into International Brand business by registering brands in South-East Asia and Africa and are in the process of expanding reach in these regions. [1] [2]

Key Points

Products
Key technicals:
Myclobutanil: It is a triazole chemical used as a fungicide.
Propiconazole: It is a triazole fungicide. Profenofos: It is an organophosphate insecticide.
Pretilachlor: Herbicide, Tricyclazole: Fungicide. [1]

New products: The Company has successfully commercialized two new Technical / Active Ingredients namely Lambda Cyhalothrin and Bispyribac Sodium. They also introduced 7 formulated products. [2]

  • Market Cap 1,642 Cr.
  • Current Price 82.5
  • High / Low 111 / 70.0
  • Stock P/E 20.1
  • Book Value 26.8
  • Dividend Yield 0.67 %
  • ROCE 15.4 %
  • ROE 16.2 %
  • Face Value 1.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 35.4% CAGR over last 5 years

Cons

  • Stock is trading at 3.07 times its book value
  • Company has a low return on equity of 12.3% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -5.98%

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
239 277 252 344 265 330 325 443 400 473 475 565 482
223 258 234 304 239 302 296 402 370 433 442 511 445
Operating Profit 16 19 18 40 26 29 28 41 29 40 33 54 38
OPM % 7% 7% 7% 12% 10% 9% 9% 9% 7% 8% 7% 10% 8%
3 1 3 3 3 6 3 5 4 2 2 3 3
Interest 8 8 7 7 8 6 6 6 7 7 8 10 12
Depreciation 6 6 7 7 6 6 6 6 6 6 7 7 6
Profit before tax 5 7 8 29 14 23 19 33 20 27 20 40 22
Tax % 23% 29% 32% 36% 36% 23% 25% 27% 29% 25% 26% 25% 25%
Net Profit 4 5 6 19 9 17 14 24 14 20 15 30 17
EPS in Rs 0.22 0.25 0.29 0.97 0.47 0.89 0.72 1.23 0.73 1.03 0.75 1.51 0.83
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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 TTM
643 601 636 746 692 735 847 865 1,015 1,191 1,640 1,995
572 583 625 701 636 679 798 852 946 1,078 1,502 1,831
Operating Profit 71 18 11 44 56 56 49 14 69 113 138 165
OPM % 11% 3% 2% 6% 8% 8% 6% 2% 7% 10% 8% 8%
4 18 16 26 18 41 20 27 8 15 13 9
Interest 33 31 28 35 37 38 33 34 29 28 27 38
Depreciation 27 25 22 25 27 28 20 20 24 25 25 26
Profit before tax 14 -20 -23 10 11 31 15 -13 24 75 100 110
Tax % 49% 36% 9% 27% 18% -4% 25% 48% 30% 32% 26%
Net Profit 7 -13 -21 8 10 33 12 -7 17 51 73 82
EPS in Rs 0.40 -0.70 -1.32 0.54 0.62 2.09 0.74 -0.42 0.87 2.60 3.70 4.12
Dividend Payout % 31% 0% 0% 19% 16% 6% 17% 0% 12% 15% 15%
Compounded Sales Growth
10 Years: 10%
5 Years: 17%
3 Years: 24%
TTM: 33%
Compounded Profit Growth
10 Years: 26%
5 Years: 35%
3 Years: 132%
TTM: 16%
Stock Price CAGR
10 Years: 38%
5 Years: 16%
3 Years: 60%
1 Year: 1%
Return on Equity
10 Years: 6%
5 Years: 9%
3 Years: 12%
Last Year: 16%

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 Sep 2022
15 15 16 16 16 16 16 17 19 20 20 20
Reserves 192 180 159 162 170 213 223 247 338 397 469 511
220 177 219 228 232 213 237 210 268 202 530 664
204 228 227 260 193 209 237 268 330 357 492 601
Total Liabilities 631 600 621 665 611 651 713 742 955 976 1,510 1,795
192 172 182 176 167 163 158 141 191 220 238 248
CWIP 16 11 18 12 6 7 5 21 42 36 116 188
Investments 4 4 9 12 13 9 9 14 15 16 13 13
419 413 411 466 426 473 541 566 707 704 1,143 1,346
Total Assets 631 600 621 665 611 651 713 742 955 976 1,510 1,795

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
36 76 31 40 46 58 24 36 103 83 -124
-24 -5 -47 -18 -12 -6 -14 -27 -97 14 -163
-10 -74 11 -27 -33 -58 -11 -9 70 -113 290
Net Cash Flow 2 -3 -5 -4 1 -5 -1 0 77 -16 2

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
Debtor Days 111 100 92 108 99 110 124 113 129 103 118
Inventory Days 148 154 140 138 153 189 141 134 84 100 124
Days Payable 123 113 97 121 89 127 127 125 137 120 117
Cash Conversion Cycle 135 141 135 125 163 172 137 122 76 83 124
Working Capital Days 108 97 93 90 119 126 124 125 90 89 125
ROCE % 3% 2% 11% 12% 10% 11% 4% 10% 17% 15%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
63.30 63.30 63.30 63.88 63.88 64.16 64.16 64.16 64.00 63.97 63.97 63.97
1.64 1.64 1.64 2.16 2.16 1.96 1.98 1.85 1.87 1.85 1.87 1.50
0.00 0.00 0.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.23
35.06 35.06 34.50 33.97 33.97 33.88 33.86 33.99 34.13 34.18 34.14 34.30

* 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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Documents

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