Sukhjit Starch & Chemicals Ltd

Sukhjit Starch & Chemicals Ltd

₹ 454 -0.33%
28 Mar - close price
About

Sukhjit Starch & Chemicals Ltd, incorporated in 1943, is an agro-processing industry manufacturing starch & its derivatives i.e Liquid Glucose, Sorbitol, Modified Starches and by-products. [1]

Key Points

Products
Maize Starch, Monohydrate Dextrose, Sorbitol 70%, Anhydrous Dextrose, Liquid Glucose, High Maltose Syrup, MaltoDextrin Powder, Modified Starch, Maize Gluten, Maize Germ, Maize Oil, and Maize Bran (Cattle Feed). Theese are used in diverse industrial and commercial applications such as food & drink (confectionaries), paper & board, personal care & pharmaceuticals, textile, FMCG, animal and pet foods, etc. [1]
Company has a maize grinding capacity of 1600 tonnes per day and roughly holds 10% domestic market share on installed capacity.[2]

  • Market Cap 711 Cr.
  • Current Price 454
  • High / Low 598 / 374
  • Stock P/E 13.4
  • Book Value 312
  • Dividend Yield 1.76 %
  • ROCE 15.2 %
  • ROE 14.3 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 24.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.8%

Cons

  • Company has a low return on equity of 13.5% over last 3 years.

* 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: Miscellaneous Industry: Miscellaneous

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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
178 234 209 278 319 353 362 347 347 392 323 321 361
154 210 183 241 273 304 322 310 315 354 295 292 324
Operating Profit 24 24 26 37 46 49 40 37 32 39 28 29 37
OPM % 14% 10% 12% 13% 14% 14% 11% 11% 9% 10% 9% 9% 10%
1 5 1 1 1 0 0 1 1 0 2 3 2
Interest 6 8 6 7 6 5 6 7 7 8 8 8 8
Depreciation 6 9 9 9 9 9 9 9 9 9 9 9 9
Profit before tax 13 13 13 23 31 35 26 21 18 22 14 16 21
Tax % 22% 29% 24% 25% 25% 36% 25% 25% 24% 32% 24% 27% 24%
10 9 10 17 24 23 19 16 13 15 11 11 16
EPS in Rs 7.01 6.02 6.54 11.48 15.94 14.54 12.26 10.28 8.55 9.47 6.83 7.29 10.25
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
357 421 506 532 565 652 701 742 799 699 1,159 1,447 1,398
314 372 457 468 505 602 638 650 743 634 1,001 1,299 1,264
Operating Profit 44 50 49 64 60 50 63 92 56 65 158 147 133
OPM % 12% 12% 10% 12% 11% 8% 9% 12% 7% 9% 14% 10% 10%
1 1 3 2 3 2 5 3 10 8 3 3 7
Interest 11 14 17 18 15 13 18 16 19 23 24 28 33
Depreciation 8 9 12 13 12 12 15 13 14 22 35 36 35
Profit before tax 26 27 23 34 35 27 36 66 33 28 102 86 72
Tax % 20% 24% 32% 33% 36% 33% 37% 37% -1% 26% 29% 27%
21 21 16 23 22 18 23 42 33 21 73 63 53
EPS in Rs 14.09 14.05 10.71 15.49 15.18 12.41 15.32 28.19 22.45 14.17 46.63 40.56 33.84
Dividend Payout % 16% 18% 16% 16% 16% 20% 21% 27% 9% 21% 21% 20%
Compounded Sales Growth
10 Years: 13%
5 Years: 16%
3 Years: 22%
TTM: -1%
Compounded Profit Growth
10 Years: 11%
5 Years: 25%
3 Years: 30%
TTM: -26%
Stock Price CAGR
10 Years: 16%
5 Years: 12%
3 Years: 33%
1 Year: 19%
Return on Equity
10 Years: 12%
5 Years: 13%
3 Years: 14%
Last Year: 14%

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 7 7 7 7 15 15 15 16 16 16
Reserves 139 156 169 189 208 229 246 269 300 318 397 450 472
110 146 161 165 129 106 153 186 322 312 288 332 372
41 56 62 52 61 77 111 123 163 152 148 155 167
Total Liabilities 297 365 399 414 405 419 518 593 799 797 849 953 1,027
117 183 200 219 222 234 233 244 249 509 513 559 542
CWIP 52 15 10 5 9 11 32 128 282 74 64 17 32
Investments 14 14 14 9 19 33 47 77 11 9 66 78 67
115 153 175 181 154 141 205 144 257 205 206 300 386
Total Assets 297 365 399 414 405 419 518 593 799 797 849 953 1,027

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
38 16 31 65 86 40 11 126 -61 116 144 41
-54 -38 -22 -22 -30 -29 -43 -146 -92 -68 -85 -43
13 23 -4 -31 -59 -21 42 18 151 -50 -60 2
Net Cash Flow -4 2 6 12 -3 -10 11 -2 -2 -2 -0 0

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 39 44 39 39 38 34 37 30 25 33 21 20
Inventory Days 106 121 109 94 55 45 76 45 101 85 55 68
Days Payable 29 34 29 28 32 26 30 27 28 39 27 22
Cash Conversion Cycle 116 131 119 105 61 54 83 49 98 79 49 67
Working Capital Days 78 87 83 76 58 51 70 40 73 54 37 52
ROCE % 16% 15% 12% 15% 14% 12% 13% 19% 8% 7% 19% 15%

Shareholding Pattern

Numbers in percentages

12 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
64.01% 64.11% 64.44% 64.44% 66.14% 66.14% 66.16% 66.18% 66.21% 66.21% 66.22% 66.24%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.02%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.22%
35.99% 35.89% 35.56% 35.56% 33.86% 33.86% 33.84% 33.83% 33.78% 33.78% 33.78% 33.52%
No. of Shareholders 5,7106,0296,2056,1096,2966,4076,6237,1426,9858,0188,4538,761

* 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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