Shivalik Rasayan Ltd

₹ 730 -1.42%

06 Jun 3:40 p.m.

shivalikrasayan.com BSE: 539148 NSE : SHIVALIK

About

The company is into manufacturing of agrochemicals and in 2015 it forayed into pharmaceuticals.
The company acquired Medicamen Biotech Limited in 2015 which is engaged in manufacturing pharmaceutical formulations. ^[1] ^[2]

Key Points

Business Segments
Shivalik Rasayan is into 2 business segments :

Website BSE NSE

Market Cap ₹ 1,089 Cr.
Current Price ₹ 730
High / Low ₹ 1,107 / 614
Stock P/E 72.1
Book Value ₹ 201
Dividend Yield 0.07 %
ROCE 5.23 %
ROE 5.35 %
Face Value ₹ 5.00

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Pros

Company has delivered good profit growth of 24.1% CAGR over last 5 years

Cons

Stock is trading at 3.70 times its book value
Tax rate seems low
Company has a low return on equity of 6.91% over last 3 years.
Debtor days have increased from 57.0 to 76.1 days.
Working capital days have increased from 110 days to 212 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: Agro Chemicals Industry: Pesticides / Agrochemicals - Indian

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
	14.25	18.23	21.63	22.93	22.08	22.86	24.17	26.89	25.39	24.74	22.80	21.78	24.26
	10.67	15.82	18.33	16.52	15.46	16.38	18.39	21.27	20.07	18.57	17.65	17.67	20.63
Operating Profit	3.58	2.41	3.30	6.41	6.62	6.48	5.78	5.62	5.32	6.17	5.15	4.11	3.63
OPM %	25.12%	13.22%	15.26%	27.95%	29.98%	28.35%	23.91%	20.90%	20.95%	24.94%	22.59%	18.87%	14.96%
	-0.00	0.13	-0.00	0.23	0.02	-0.00	-0.00	0.47	1.52	0.49	0.33	0.83	0.55
Interest	0.25	0.02	0.18	0.18	0.14	0.31	0.22	0.24	0.32	0.26	0.26	0.39	0.50
Depreciation	0.44	0.95	1.10	2.32	1.69	1.27	1.29	1.35	1.32	1.48	1.22	1.35	1.19
Profit before tax	2.89	1.57	2.02	4.14	4.81	4.90	4.27	4.50	5.20	4.92	4.00	3.20	2.49
Tax %	1.04%	-3.18%	-3.47%	-1.21%	-1.04%	-1.63%	-2.81%	-2.00%	-4.04%	1.02%	-1.00%	9.69%	-32.53%
Net Profit	2.86	1.62	2.09	4.19	4.85	4.98	4.38	4.59	5.40	4.87	4.04	2.89	3.31
EPS in Rs	2.08	1.18	1.52	3.04	3.52	3.61	3.18	3.17	3.73	3.36	2.79	1.99	2.28
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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
	26	29	35	41	43	41	44	48	61	85	99	94
	24	27	33	38	38	34	36	42	51	66	76	75
Operating Profit	1	2	2	3	5	7	7	6	9	19	23	19
OPM %	6%	5%	6%	7%	11%	17%	17%	13%	16%	22%	23%	20%
	0	0	0	0	1	1	1	4	1	0	2	2
Interest	0	0	0	0	1	2	1	1	1	1	1	1
Depreciation	0	0	0	0	0	0	0	1	1	6	5	5
Profit before tax	1	1	2	3	4	5	6	9	9	13	19	15
Tax %	31%	32%	34%	33%	33%	33%	19%	-3%	-0%	-1%	-3%	-3%
Net Profit	1	1	1	2	3	3	5	9	9	13	19	15
EPS in Rs	1.01	1.08	1.37	2.10	3.10	3.84	4.84	6.47	6.35	9.20	13.36	10.42
Dividend Payout %	-0%	-0%	-0%	-0%	-0%	10%	8%	8%	4%	5%	4%	-0%

Compounded Sales Growth
10 Years:	12%
5 Years:	16%
3 Years:	15%
TTM:	-6%

Compounded Profit Growth
10 Years:	32%
5 Years:	24%
3 Years:	20%
TTM:	-22%

Stock Price CAGR
10 Years:	%
5 Years:	17%
3 Years:	44%
1 Year:	-8%

Return on Equity
10 Years:	8%
5 Years:	7%
3 Years:	7%
Last Year:	5%

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
	3	3	3	3	3	3	4	7	7	7	7	7
Reserves	4	5	6	8	10	14	42	153	161	173	266	284
	2	0	-0	0	11	14	8	9	0	11	15	34
	6	8	9	11	12	7	7	10	18	31	29	40
Total Liabilities	15	16	18	23	37	38	61	178	186	223	318	365
	6	7	6	7	8	8	15	16	18	120	128	126
CWIP	-0	-0	-0	-0	-0	-0	-0	11	61	-0	3	57
Investments	-0	-0	-0	-0	16	18	27	27	39	53	55	65
	9	10	12	16	13	12	19	124	68	49	131	117
Total Assets	15	16	18	23	37	38	61	178	186	223	318	365

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
	6	-3	-1	4	6	4	-2	-12	-7	46	7	-13
	-4	0	0	-0	-17	-2	-16	-9	-65	-61	-16	-65
	-3	3	0	1	7	-2	19	104	-9	10	76	21
Net Cash Flow	-1	-0	-0	4	-4	1	2	83	-81	-5	66	-57

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	78	76	93	80	61	47	64	66	49	70	25	76
Inventory Days	42	32	8	5	14	22	36	82	33	45	97	256
Days Payable	72	112	103	126	139	76	66	92	166	119	108	154
Cash Conversion Cycle	48	-4	-2	-41	-64	-8	34	56	-83	-4	14	179
Working Capital Days	40	4	17	-11	-40	-37	38	169	202	33	86	212
ROCE %	20%	19%	23%	29%	28%	25%	18%	9%	6%	7%	8%	5%

Shareholding Pattern

Numbers in percentages

Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
52.92	52.92	52.92	52.92	52.92	52.92	50.32	50.32	50.32	50.32	50.32	50.32
0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.06	0.04	0.01	0.01	0.01
47.08	47.08	47.08	47.08	47.08	47.08	49.68	49.62	49.64	49.67	49.67	49.67

Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
71.20	62.62	52.50	52.92	52.92	50.32	50.32
0.00	0.00	0.04	0.00	0.00	0.06	0.01
1.84	0.41	0.00	0.00	0.00	0.00	0.00
26.96	36.97	47.46	47.08	47.08	49.62	49.67

* 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

Announcements

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Annual reports

Concalls

Dec 2021

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Notes
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Sep 2021

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Aug 2020

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Dec 2019

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Dec 2019

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