Paradeep Phosphates Ltd

Paradeep Phosphates Ltd

₹ 75.5 -1.99%
04 Mar 4:01 p.m.
About

Incorporated in 1981, Paradeep Phosphates Limited is a manufacturer of non-urea fertilizers and India’s second largest private sector phosphatic company. The company is engaged in manufacturing, trading, distribution, and sales of a variety of complex fertilizers such as DAP, three grades of Nitrogen-Phosphorus-Potassium (namely NPK-10, NPK-12, and NP-20), Zypmite, Phospho-gypsum, and Hydroflorosilicic Acid.[1]

Key Points

History[1] Paradeep Phosphates Limited (PPL) was incorporated in 1981 as a joint venture between the Government of India (GoI) and the Republic of Nauru to set up facilities for manufacturing di-ammonium phosphate (DAP) at Paradeep, Orissa. In 1993, the Republic of Nauru disinvested its equity stake in the GoI and PPL became a public sector enterprise wholly owned by the GoI.
After the IPO in FY23, Zuari Agro Chemicals (ZACL) and OCP Group together hold 56.1% in PPL post IPO.[2]

  • Market Cap 6,149 Cr.
  • Current Price 75.5
  • High / Low 85.9 / 48.3
  • Stock P/E 69.6
  • Book Value 42.2
  • Dividend Yield 0.66 %
  • ROCE 11.0 %
  • ROE 11.0 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • Debtor days have increased from 74.8 to 101 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: Fertilizers Industry: Fertilizers

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,554 1,316 1,935 2,709 1,899 2,435 2,864 4,398 3,644 3,054 3,683 2,595
1,485 1,214 1,667 2,501 1,806 2,277 2,682 4,027 3,553 3,093 3,427 2,313
Operating Profit 69 102 268 208 92 157 181 372 91 -39 256 282
OPM % 4% 8% 14% 8% 5% 6% 6% 8% 2% -1% 7% 11%
8 4 3 6 26 10 6 6 70 19 11 9
Interest 27 7 15 21 42 51 73 87 80 92 96 82
Depreciation 21 21 22 23 23 31 47 47 50 47 51 55
Profit before tax 29 78 234 170 52 85 68 243 30 -159 120 154
Tax % 74% 24% 25% 25% 32% 26% 25% 26% 68% 25% 26% 29%
8 60 175 128 36 63 51 181 9 -119 89 109
EPS in Rs 13.17 1.03 3.04 2.22 0.62 0.77 0.62 2.22 0.12 -1.47 1.10 1.34
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
3,620 3,791 4,358 4,193 5,165 7,859 13,341 12,976
3,241 3,367 3,916 3,733 4,616 7,175 12,525 12,386
Operating Profit 379 424 442 460 549 684 816 591
OPM % 10% 11% 10% 11% 11% 9% 6% 5%
53 20 39 35 12 26 76 108
Interest 242 159 159 192 111 86 291 351
Depreciation 58 62 70 72 83 90 175 203
Profit before tax 131 224 251 230 367 534 426 145
Tax % 34% 33% 37% 16% 39% 26% 29%
87 151 159 194 223 398 304 88
EPS in Rs 151.03 261.69 276.39 337.21 388.32 6.91 3.73 1.09
Dividend Payout % 0% 0% 0% 0% 0% 0% 13%
Compounded Sales Growth
10 Years: %
5 Years: 29%
3 Years: 47%
TTM: 12%
Compounded Profit Growth
10 Years: %
5 Years: 16%
3 Years: 17%
TTM: -73%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 38%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 14%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 575 575 575 575 575 575 814 815
Reserves 670 820 907 1,029 1,253 1,650 2,691 2,621
2,511 1,861 3,054 2,218 1,251 2,954 4,648 3,902
828 875 1,091 1,188 1,344 2,749 2,504 2,288
Total Liabilities 4,584 4,132 5,628 5,011 4,424 7,929 10,658 9,626
932 1,008 1,024 1,214 1,226 1,261 2,872 3,287
CWIP 243 215 255 149 220 336 697 437
Investments 0 0 0 4 126 554 4 4
3,409 2,909 4,349 3,644 2,852 5,778 7,085 5,899
Total Assets 4,584 4,132 5,628 5,011 4,424 7,929 10,658 9,626

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
701 804 -920 1,270 1,501 -44 -2,377
-132 73 -103 -143 -289 -1,099 -419
-589 -868 1,018 -1,141 -1,124 1,589 2,301
Net Cash Flow -20 9 -5 -15 87 446 -495

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 225 184 196 187 82 42 101
Inventory Days 106 92 166 147 85 133 77
Days Payable 77 88 83 110 89 132 66
Cash Conversion Cycle 253 189 280 224 78 43 112
Working Capital Days 251 188 272 214 105 63 124
ROCE % 11% 11% 10% 14% 15% 11%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
56.10% 56.10% 56.10% 56.10% 56.10% 56.08% 56.08%
6.70% 4.39% 4.74% 5.11% 5.25% 5.57% 5.08%
22.12% 21.36% 20.73% 21.77% 22.48% 23.56% 22.02%
15.08% 18.16% 18.43% 17.01% 16.15% 14.78% 16.81%
No. of Shareholders 2,07,0792,25,4862,26,1682,17,3702,13,5621,98,5512,11,148

* 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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