Oriental Carbon & Chemicals Ltd

Oriental Carbon & Chemicals Ltd

₹ 658 -2.31%
28 Mar - close price
About

Oriental Carbon & Chemicals started operations as Dharuhera Chemicals Limited in 1978 and was later merged with Oriental Carbon Limited in 1984. It belongs to the JP Goenka Group of Companies. In 1994, OCCL set-up a manufacturing facility for the production of Insoluble Sulphur, which is now the flagship product of the company. OCCL also manufactures Sulphuric Acid & Oleum.

Key Points

Market Share
OCCL has a dominant position in the domestic market as the sole manufacturer of IS. It has positioned itself as the second preferred supplier to most global tyre makers. It continues to retain its leadership position in the domestic market with 55-60% of the market share and ~10% share in the global market.[1]

  • Market Cap 657 Cr.
  • Current Price 658
  • High / Low 939 / 645
  • Stock P/E 15.9
  • Book Value 612
  • Dividend Yield 2.13 %
  • ROCE 9.45 %
  • ROE 7.69 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 1.08 times its book value
  • Company has been maintaining a healthy dividend payout of 28.6%

Cons

  • The company has delivered a poor sales growth of 7.41% over past five years.
  • Company has a low return on equity of 9.73% over last 3 years.

* 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

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
108.22 106.06 81.21 99.33 95.39 109.36 136.35 122.16 102.83 103.52 108.70 95.09 88.19
66.22 68.21 63.64 76.53 76.16 93.45 109.50 101.99 79.01 78.68 77.85 74.03 72.38
Operating Profit 42.00 37.85 17.57 22.80 19.23 15.91 26.85 20.17 23.82 24.84 30.85 21.06 15.81
OPM % 38.81% 35.69% 21.64% 22.95% 20.16% 14.55% 19.69% 16.51% 23.16% 24.00% 28.38% 22.15% 17.93%
0.80 0.81 5.25 1.53 0.43 1.66 0.84 0.87 0.04 0.17 1.74 0.62 0.38
Interest 1.33 1.41 1.14 1.18 1.26 2.96 2.43 3.53 3.20 3.01 3.10 2.98 2.55
Depreciation 5.13 5.78 5.32 5.53 5.64 6.52 6.82 6.98 7.34 6.80 7.04 7.17 7.22
Profit before tax 36.34 31.47 16.36 17.62 12.76 8.09 18.44 10.53 13.32 15.20 22.45 11.53 6.42
Tax % 21.71% 21.32% 24.02% 28.38% 17.24% 46.60% 24.24% 26.21% 21.70% 24.08% 31.89% 27.67% 5.61%
28.45 24.76 12.42 12.63 10.57 4.33 13.97 7.77 10.43 11.54 15.29 8.35 6.06
EPS in Rs 28.48 24.78 12.43 12.64 10.58 4.33 13.98 7.78 10.44 11.55 15.31 8.36 6.07
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
218 225 262 283 271 297 324 383 340 341 386 463 396
162 168 193 210 189 208 224 261 241 219 308 366 303
Operating Profit 56 58 69 72 82 89 100 123 99 122 78 96 93
OPM % 26% 26% 26% 26% 30% 30% 31% 32% 29% 36% 20% 21% 23%
4 5 3 12 5 6 4 7 10 2 8 2 3
Interest 8 13 11 8 6 5 8 8 9 6 8 13 12
Depreciation 7 10 10 13 16 15 16 19 20 21 23 28 28
Profit before tax 44 40 50 63 65 75 80 103 79 97 55 57 56
Tax % 29% 32% 19% 18% 18% 27% 29% 28% 10% 22% 27% 24%
31 27 40 51 53 54 57 74 72 75 40 44 41
EPS in Rs 30.56 26.59 39.28 49.84 51.47 52.61 55.12 73.81 71.58 75.07 39.99 43.75 41.29
Dividend Payout % 16% 19% 18% 17% 17% 19% 18% 16% 14% 19% 35% 32%
Compounded Sales Growth
10 Years: 7%
5 Years: 7%
3 Years: 11%
TTM: -16%
Compounded Profit Growth
10 Years: 5%
5 Years: -5%
3 Years: -14%
TTM: 13%
Stock Price CAGR
10 Years: 15%
5 Years: -10%
3 Years: -11%
1 Year: -1%
Return on Equity
10 Years: 15%
5 Years: 12%
3 Years: 10%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 10 10 10 10 10 10 10 10 10 10 10 10 10
Reserves 140 162 194 234 276 333 378 404 458 523 547 584 601
117 118 104 91 73 103 117 125 154 185 188 165 128
38 44 49 56 58 62 68 73 57 74 86 78 76
Total Liabilities 306 334 356 391 417 507 573 612 679 791 831 837 815
141 188 193 188 183 306 308 344 338 327 437 462 455
CWIP 44 3 2 4 40 3 40 3 25 113 41 1 3
Investments 15 20 26 41 30 53 76 108 147 199 187 217 207
106 124 135 158 165 146 148 156 168 152 166 158 150
Total Assets 306 334 356 391 417 507 573 612 679 791 831 837 815

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
30 47 52 70 68 77 87 89 108 85 52 91
-77 -27 -23 -31 -42 -84 -72 -45 -83 -123 -32 -38
51 -20 -32 -32 -35 5 -7 -51 -3 17 -21 -52
Net Cash Flow 4 0 -3 7 -9 -2 8 -8 22 -22 -1 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 76 64 66 67 65 94 85 80 72 80 76 60
Inventory Days 140 199 204 160 204 168 185 164 138 185 160 122
Days Payable 66 68 73 66 54 95 90 63 58 88 67 38
Cash Conversion Cycle 150 195 197 160 215 167 180 181 152 177 169 143
Working Capital Days 79 67 59 56 65 82 73 75 73 92 93 83
ROCE % 24% 19% 21% 22% 21% 20% 18% 22% 15% 15% 8% 9%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
51.76% 51.76% 51.76% 51.76% 51.76% 51.76% 51.76% 51.76% 51.76% 51.76% 51.76% 51.76%
0.68% 0.75% 0.79% 1.02% 1.18% 1.36% 1.40% 1.28% 1.29% 0.69% 0.74% 0.74%
17.15% 15.58% 15.23% 14.58% 14.58% 14.23% 14.14% 13.77% 13.14% 12.84% 11.75% 11.75%
30.40% 31.91% 32.22% 32.64% 32.48% 32.64% 32.70% 33.19% 33.81% 34.72% 35.74% 35.75%
No. of Shareholders 17,45218,54919,98919,71519,84719,80419,77119,54919,28819,06519,95220,238

* 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.

Click on the line-items to see the names of individual entities.

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