Rama Phosphates Ltd

About

Rama Phosphates is engaged in manufacturing phosphatic fertilisers, viz., SSP, fortified fertilisers, namely boronated SSP, as well as sulphuric acid and its derivatives. It also has a soya oil division engaged in extraction of soya oil. RPL markets its fertilisers under the brands, ‘Suryaphool’ and ‘Girnar’ in the states of Maharashtra, Madhya Pradesh, Rajasthan, Karnataka, Gujarat, Uttar Pradesh and Haryana. [1]

Key Points

Wide Distribution Network
RPL enjoys an established presence in Maharashtra, Madhya Pradesh, Rajasthan, Karnataka, Gujarat, Uttar Pradesh and Haryana with its established network of dealers and distributors.[1] Company has twelve states of operation in central, western and northern India through extensive dealers network[2]

See full details
  • Market Cap 570 Cr.
  • Current Price 322
  • High / Low 505 / 62.2
  • Stock P/E 10.3
  • Book Value 115
  • Dividend Yield 0.62 %
  • ROCE 29.4 %
  • ROE 22.7 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 39.28% CAGR over last 5 years
  • Debtor days have improved from 32.49 to 24.18 days.

Cons

  • Promoters have pledged 68.00% of their holding.

Peer comparison

Sector: Fertilizers Industry: Fertilizers

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Quarterly Results

Figures in Rs. Crores

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
161 142 167 111 124 117 97 105 115 151 209 183
149 132 160 106 118 108 93 95 98 135 190 153
Operating Profit 12 10 7 6 6 8 4 10 17 16 19 30
OPM % 7% 7% 4% 5% 5% 7% 4% 10% 15% 11% 9% 16%
Other Income 0 0 0 3 0 0 1 0 0 0 0 0
Interest 2 2 1 1 1 0 0 1 1 0 0 1
Depreciation 1 1 1 1 1 1 1 1 1 1 2 2
Profit before tax 9 8 6 7 5 7 3 9 15 15 18 27
Tax % 39% 36% 37% 15% 39% 6% 27% 27% 26% 22% 27% 26%
Net Profit 5 5 4 6 3 7 2 7 11 11 13 20
EPS in Rs 3.06 2.78 2.14 3.15 1.57 3.85 1.41 3.71 6.39 6.48 7.22 11.25

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
131 354 554 617 532 399 389 382 375 607 448 580 658
137 311 494 570 531 400 364 361 356 566 425 517 576
Operating Profit -6 43 60 48 1 -1 25 21 19 40 24 63 82
OPM % -5% 12% 11% 8% 0% -0% 6% 6% 5% 7% 5% 11% 12%
Other Income 24 6 2 3 9 1 1 4 1 1 5 1 0
Interest 3 6 8 11 10 10 11 9 8 8 3 2 2
Depreciation 4 4 4 4 4 4 4 3 3 3 4 5 6
Profit before tax 11 38 50 35 -3 -14 12 13 8 31 22 57 74
Tax % 0% 13% 33% 27% 35% 28% 32% 32% 34% 36% 19% 26%
Net Profit 11 33 34 26 -2 -10 8 8 5 19 18 42 55
EPS in Rs 18.91 18.99 14.49 -1.19 -5.52 4.56 4.80 3.05 10.96 9.99 23.80 31.34
Dividend Payout % 0% 0% 0% 6% -42% 0% 18% 21% 33% 9% 10% 4%
Compounded Sales Growth
10 Years: 5%
5 Years: 8%
3 Years: 16%
TTM: 49%
Compounded Profit Growth
10 Years: 3%
5 Years: 39%
3 Years: 98%
TTM: 197%
Stock Price CAGR
10 Years: 21%
5 Years: 37%
3 Years: 60%
1 Year: 388%
Return on Equity
10 Years: 11%
5 Years: 12%
3 Years: 16%
Last Year: 23%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
6 18 18 18 18 18 18 18 18 18 18 18
Reserves -3 55 89 113 109 98 104 113 116 134 148 187
Borrowings 63 50 61 63 53 58 54 51 47 27 24 6
82 50 116 145 109 105 115 119 98 114 109 101
Total Liabilities 147 173 284 338 288 279 291 301 279 292 299 311
27 25 22 36 34 32 34 32 31 33 43 72
CWIP 0 3 12 3 6 6 4 4 5 13 20 5
Investments 0 0 0 0 0 0 0 0 0 0 0 0
120 144 250 299 248 241 253 265 243 247 236 234
Total Assets 147 173 284 338 288 279 291 301 279 292 299 311

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
7 12 32 15 24 7 18 12 13 21 26 26
-0 -4 -10 -9 -4 -3 -2 -3 -2 -12 -21 -19
-6 -10 -12 -13 -20 -5 -14 -10 -10 -9 -5 -5
Net Cash Flow 1 -2 10 -8 -0 -2 1 -1 1 -0 0 3

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 21 9 24 52 40 51 73 71 55 34 39 24
Inventory Days 356 149 86 72 104 118 72 97 128 82 132 111
Days Payable 102 44 73 81 68 107 116 138 113 69 105 70
Cash Conversion Cycle 275 115 37 42 76 62 29 31 70 48 66 66
Working Capital Days 181 94 80 91 92 116 123 135 138 78 99 79
ROCE % 44% 40% 26% 3% -2% 13% 12% 9% 21% 12% 29%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06
0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.03 0.03 0.03 0.03
24.94 24.94 24.94 24.94 24.93 24.94 24.94 24.94 24.97 24.97 24.97 24.91

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