Sudarshan Chemical Industries Ltd

Sudarshan Chemical Industries Ltd

₹ 740 3.16%
24 Apr 11:38 a.m.
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
The company holds a position as the 3rd largest pigment manufacturer on a global scale. In FY23, it holds 35%market share. [1]

  • Market Cap 5,121 Cr.
  • Current Price 740
  • High / Low 765 / 382
  • Stock P/E 58.5
  • Book Value 159
  • Dividend Yield 0.49 %
  • ROCE 6.27 %
  • ROE 5.40 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 26.4%

Cons

  • Stock is trading at 4.69 times its book value
  • The company has delivered a poor sales growth of 11.6% over past five years.
  • Company has a low return on equity of 13.8% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.331 Cr.
  • Promoter holding has decreased over last 3 years: -4.21%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
506 577 474 498 602 627 554 528 528 691 608 601 566
427 489 412 445 528 541 513 486 486 606 538 535 504
Operating Profit 80 87 62 53 74 86 41 43 42 85 70 66 62
OPM % 16% 15% 13% 11% 12% 14% 7% 8% 8% 12% 11% 11% 11%
3 2 1 1 2 2 1 1 1 2 319 6 4
Interest 5 4 5 4 5 5 6 9 11 15 10 10 9
Depreciation 22 21 21 22 22 25 26 27 31 31 35 35 35
Profit before tax 56 64 37 28 49 58 10 8 1 41 344 26 22
Tax % 30% 17% 29% 18% 25% 22% 32% 43% 17% 20% 22% 32% 34%
39 53 26 23 36 45 7 5 1 33 267 18 15
EPS in Rs 5.66 7.72 3.78 3.29 5.26 6.45 1.02 0.66 0.08 4.70 38.56 2.58 2.11
Raw PDF

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 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
791 863 1,106 1,205 1,401 1,282 1,329 1,593 1,708 1,864 2,201 2,302 2,466
706 784 974 1,075 1,232 1,093 1,139 1,386 1,460 1,574 1,923 2,088 2,184
Operating Profit 86 80 133 131 170 189 191 207 248 290 278 213 282
OPM % 11% 9% 12% 11% 12% 15% 14% 13% 15% 16% 13% 9% 11%
4 7 2 23 14 25 15 81 22 7 5 5 331
Interest 24 34 43 41 37 30 25 19 16 20 23 44 44
Depreciation 18 26 37 42 48 49 58 66 74 87 89 114 136
Profit before tax 48 26 55 72 99 136 123 203 180 190 171 60 433
Tax % 29% 15% 37% 24% 29% 25% 31% 33% 20% 26% 24% 25%
34 22 35 54 70 101 85 135 145 141 130 45 332
EPS in Rs 4.86 3.19 5.08 7.86 10.10 14.64 12.24 19.52 20.88 20.38 18.77 6.47 47.95
Dividend Payout % 26% 39% 30% 22% 30% 24% 29% 31% 30% 29% 27% 23%
Compounded Sales Growth
10 Years: 10%
5 Years: 12%
3 Years: 10%
TTM: 10%
Compounded Profit Growth
10 Years: 7%
5 Years: -12%
3 Years: -30%
TTM: 54%
Stock Price CAGR
10 Years: 29%
5 Years: 16%
3 Years: 9%
1 Year: 77%
Return on Equity
10 Years: 18%
5 Years: 16%
3 Years: 14%
Last Year: 5%

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 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 7 7 7 14 14 14 14 14 14 14 14 14 14
Reserves 237 247 264 249 300 367 426 554 587 730 819 814 1,089
290 437 440 433 430 433 431 367 501 618 823 829 638
185 189 217 317 346 379 433 424 522 638 705 725 696
Total Liabilities 719 880 929 1,012 1,090 1,193 1,304 1,358 1,624 2,000 2,361 2,383 2,436
229 319 327 333 358 452 475 465 627 615 832 1,126 1,095
CWIP 17 23 7 8 15 8 6 24 48 278 285 44 47
Investments 0 0 0 0 0 0 0 0 1 1 2 2 146
473 538 594 671 716 733 822 869 948 1,105 1,243 1,210 1,148
Total Assets 719 880 929 1,012 1,090 1,193 1,304 1,358 1,624 2,000 2,361 2,383 2,436

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 Mar 2020 Mar 2021 Mar 2022 Mar 2023
52 25 48 112 164 163 148 71 263 165 180 287
-87 -120 -28 -61 -83 -135 -87 -27 -220 -266 -308 -189
59 101 -48 -43 -81 -38 -62 -48 -39 108 138 -103
Net Cash Flow 23 7 -27 8 -0 -10 -2 -3 3 8 9 -5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 89 89 85 96 92 98 92 79 78 95 83 77
Inventory Days 159 168 144 125 113 134 131 119 154 142 163 132
Days Payable 87 77 63 94 96 139 126 94 139 152 150 136
Cash Conversion Cycle 162 180 166 127 109 93 96 105 92 85 96 73
Working Capital Days 99 110 102 93 86 71 92 94 73 89 92 81
ROCE % 15% 10% 14% 16% 19% 22% 18% 17% 18% 17% 13% 6%

Shareholding Pattern

Numbers in percentages

11 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.

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