Sudarshan Chemical Industries Ltd

Sudarshan Chemical Industries Ltd

₹ 794 -1.33%
28 May - close price
About

Sudarshan Chemical Industries manufactures and sells a wide range of Organic and Inorganic Pigments, Effect Pigments. The Group also manufactures Pollution Control Equipment, Size Reduction Equipment and Grinding Equipments for industrial applications.(Source : 202003 Annual Report Page No:203)

Key Points

Market Position[1]
The company is the 3rd largest pigment manufacturer globally. In FY24, it holds 35% market share.

  • Market Cap 5,496 Cr.
  • Current Price 794
  • High / Low 893 / 437
  • Stock P/E 56.7
  • Book Value 160
  • Dividend Yield 0.45 %
  • ROCE 10.2 %
  • ROE 10.1 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 25.7%

Cons

  • Stock is trading at 4.97 times its book value
  • Promoter holding has decreased over last quarter: -2.60%
  • The company has delivered a poor sales growth of 8.37% over past five years.
  • Promoter holding is low: 33.2%
  • Company has a low return on equity of 8.86% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.329 Cr.

* 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: Dyes And Pigments

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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 Mar 2024
520 435 436 540 508 516 454 465 542 525 489 510 618
451 381 389 474 441 479 417 426 473 460 433 445 528
Operating Profit 68 54 48 66 66 37 36 39 69 65 56 65 89
OPM % 13% 12% 11% 12% 13% 7% 8% 8% 13% 12% 11% 13% 14%
3 1 1 2 5 1 1 1 1 319 6 4 -0
Interest 4 4 4 4 5 6 9 10 13 8 8 7 6
Depreciation 21 20 21 21 24 25 26 30 30 34 34 34 34
Profit before tax 46 29 24 42 42 7 3 0 28 342 20 28 49
Tax % 14% 25% 26% 25% 30% 26% 29% -2,150% 18% 22% 29% 32% 24%
40 22 18 31 30 5 2 1 23 265 14 19 37
EPS in Rs 5.71 3.18 2.53 4.51 4.27 0.77 0.30 0.20 3.28 38.32 2.04 2.72 5.33
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
776 1,015 1,076 1,199 1,126 1,306 1,433 1,518 1,708 1,919 1,976 2,141
705 889 966 1,043 955 1,107 1,229 1,280 1,441 1,684 1,793 1,866
Operating Profit 71 126 110 157 171 199 203 238 267 235 183 275
OPM % 9% 12% 10% 13% 15% 15% 14% 16% 16% 12% 9% 13%
11 3 25 13 21 12 91 25 17 8 4 329
Interest 32 39 36 27 24 25 15 13 18 19 38 29
Depreciation 25 35 40 44 49 58 65 72 85 87 111 137
Profit before tax 25 55 60 98 119 128 215 177 181 137 38 439
Tax % 16% 37% 29% 27% 25% 31% 29% 16% 25% 27% 17% 24%
21 34 42 72 89 88 152 149 136 100 31 335
EPS in Rs 3.05 4.99 6.13 10.35 12.90 12.72 21.89 21.48 19.68 14.50 4.54 48.41
Dividend Payout % 41% 30% 29% 29% 27% 28% 27% 29% 30% 34% 33% 10%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 8%
TTM: 8%
Compounded Profit Growth
10 Years: 11%
5 Years: 3%
3 Years: -9%
TTM: 209%
Stock Price CAGR
10 Years: 27%
5 Years: 19%
3 Years: 7%
1 Year: 72%
Return on Equity
10 Years: 15%
5 Years: 13%
3 Years: 9%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 7 7 14 14 14 14 14 14 14 14 14 14
Reserves 274 296 266 313 380 439 585 619 757 818 794 1,093
409 394 349 347 361 365 311 445 563 761 754 378
183 206 272 284 321 349 354 483 589 626 585 610
Total Liabilities 874 904 901 958 1,076 1,166 1,263 1,561 1,923 2,220 2,148 2,094
308 316 309 328 418 465 464 614 598 812 1,098 1,069
CWIP 23 6 7 15 8 6 24 48 278 282 44 15
Investments 25 29 49 48 55 60 42 44 55 55 56 51
518 553 535 566 595 636 733 855 992 1,071 950 960
Total Assets 874 904 901 958 1,076 1,166 1,263 1,561 1,923 2,220 2,148 2,094

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
13 83 150 152 144 155 85 236 155 165 284 189
-115 -28 -67 -78 -128 -88 -25 -224 -261 -294 -182 289
90 -63 -76 -72 -25 -70 -63 -11 113 134 -110 -449
Net Cash Flow -13 -8 7 1 -9 -3 -3 0 8 5 -9 30

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 94 95 90 88 93 84 89 88 105 88 78 89
Inventory Days 151 127 95 88 107 93 105 140 117 154 112 93
Days Payable 83 65 85 89 125 107 100 146 151 154 128 130
Cash Conversion Cycle 162 158 100 87 75 70 93 82 70 89 62 52
Working Capital Days 127 103 77 73 59 68 89 70 85 92 76 67
ROCE % 9% 14% 14% 19% 20% 20% 17% 17% 16% 11% 5%

Shareholding Pattern

Numbers in percentages

5 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
39.57% 35.73% 35.73% 35.82% 35.82% 35.82% 35.82% 35.82% 35.82% 35.82% 35.82% 33.22%
8.80% 9.38% 8.49% 7.93% 6.03% 4.16% 2.81% 3.12% 3.49% 4.65% 4.22% 4.50%
9.26% 9.78% 10.92% 11.54% 13.01% 14.18% 14.33% 14.18% 14.29% 13.67% 13.58% 17.47%
42.37% 45.11% 44.86% 44.71% 45.14% 45.84% 47.05% 46.87% 46.41% 45.86% 46.37% 44.81%
No. of Shareholders 52,94271,12173,80271,24074,04975,76975,94672,94667,78968,05268,30168,607

* 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.

Documents

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