Panama Petrochem Ltd

Panama Petrochem is engaged in the manufacture of specialty petroleum products for diverse user industries like printing, textiles, rubber, pharmaceuticals, cosmetics, power and other industrial oil.(Source : 201903 Annual Report Page No: 89)

Pros:
Stock is trading at 1.04 times its book value
Company has good consistent profit growth of 22.99% over 5 years
Cons:

Peer Comparison Sector: Petrochemicals // Industry: Petrochemicals

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
193 237 220 276 314 359 377 310 286 308 365 270
175 217 199 250 288 329 352 291 263 279 336 253
Operating Profit 18 20 21 27 26 30 25 19 23 29 29 17
OPM % 10% 9% 9% 10% 8% 8% 7% 6% 8% 9% 8% 6%
Other Income 0 1 1 0 0 0 1 0 1 1 1 1
Interest 2 2 2 3 3 4 3 4 7 5 9 5
Depreciation 1 1 1 1 1 1 1 1 2 1 1 2
Profit before tax 15 17 19 22 22 25 21 14 15 23 20 11
Tax % 37% 34% 30% 35% 32% 32% 31% 26% 28% 31% 24% 28%
Net Profit 10 12 13 15 15 17 14 10 11 16 15 8
EPS in Rs 1.61 1.91 2.19 1.60 2.48 2.82 2.37 1.72 1.78 2.60 2.47 1.27
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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 TTM
584 635 635 805 752 834 1,326 1,269 1,229
541 614 604 773 704 759 1,219 1,169 1,132
Operating Profit 44 20 31 32 48 75 108 100 97
OPM % 7% 3% 5% 4% 6% 9% 8% 8% 8%
Other Income 5 3 1 1 2 4 2 3 3
Interest 8 8 6 8 8 9 14 25 26
Depreciation 1 2 2 3 5 5 5 6 6
Profit before tax 39 13 23 22 37 66 90 72 68
Tax % 22% 8% 22% 18% 31% 33% 32% 27%
Net Profit 31 12 18 18 25 44 61 52 49
EPS in Rs 4.60 1.75 2.90 2.65 4.09 7.24 10.08 8.58 8.12
Dividend Payout % 14% 29% 26% 46% 8% 9% 12% 14%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:14.86%
3 Years:19.08%
TTM:-9.61%
Compounded Profit Growth
10 Years:%
5 Years:22.99%
3 Years:27.26%
TTM:-13.61%
Stock Price CAGR
10 Years:14.89%
5 Years:12.61%
3 Years:12.54%
1 Year:-43.50%
Return on Equity
10 Years:%
5 Years:12.98%
3 Years:15.18%
Last Year:13.21%

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
9 9 8 8 8 8 12 12
Reserves 216 223 231 241 264 305 359 402
Borrowings 10 22 17 42 57 33 45 160
258 168 206 207 162 324 560 346
Total Liabilities 493 422 462 498 492 669 976 920
58 73 77 119 123 125 134 156
CWIP 3 6 40 0 0 4 14 11
Investments 0 0 0 0 2 1 0 0
431 344 345 379 367 538 828 752
Total Assets 493 422 462 498 492 669 976 920

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
89 -84 30 -12 18 59 34 -78
-22 0 -36 -13 -12 -21 -14 -22
49 1 -23 11 -2 -36 -6 81
Net Cash Flow 117 -83 -29 -14 4 2 14 -19

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 9% 12% 11% 15% 22% 27% 20%
Debtor Days 65 68 96 79 75 80 77 90
Inventory Turnover 4.60 4.91 5.40 4.53 3.57 3.55 3.06