Sumitomo Chemical India Ltd

Sumitomo Chemical India Ltd

₹ 410 2.16%
22 Apr 12:48 p.m.
About

Sumitomo Chemical India Ltd. (SCIL) is one of the leading players in the industry which has a balanced portfolio of technical as well as formulation products along with backward integration for some products. The Company is known for domestic marketing of proprietary products of its Japanese parent -Sumitomo Chemical Company Limited in agrochemicals, animal nutrition, and environmental health business segments. With the integration of Excel Crop Care Limited, the Company now has a strong portfolio of generics in addition to specialty products and a strong combined marketing network. With this integration, the Company has moved up several notches in the pecking order of the Indian crop protection industry. SCIL has also marked its presence in Africa and several other geographies of the world.[1] [2]

Key Points

Products
The Company has a presence in all the product segments - insecticides, weedicides, fungicides, fumigants and rodenticides, plant growth nutrition products, bio-rationals, and plant growth regulators. The Company is known for domestic marketing of proprietary products of its Japanese parent – Sumitomo Chemical Company, Limited in agrochemicals, animal nutrition, and environmental health business segments. [1]

The products comprise conventional chemistry sourced from the parent company, SCC, and biological products sourced from a USA-based subsidiary, Valent Biosciences LLC, a leader in producing a range of naturally occurring, environmentally compatible pesticides and plant growth regulators, for over 40 years. [2]

  • Market Cap 20,465 Cr.
  • Current Price 410
  • High / Low 455 / 336
  • Stock P/E 61.5
  • Book Value 50.6
  • Dividend Yield 0.30 %
  • ROCE 30.2 %
  • ROE 23.4 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 28.3% CAGR over last 5 years

Cons

  • Stock is trading at 8.11 times its book value

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
560 534 782 910 707 664 986 1,122 753 652 724 903 540
482 463 631 695 580 555 798 843 632 571 643 715 475
Operating Profit 78 71 150 215 127 109 188 278 121 81 81 188 66
OPM % 14% 13% 19% 24% 18% 16% 19% 25% 16% 12% 11% 21% 12%
6 5 5 8 15 7 5 11 13 17 18 25 27
Interest 1 1 2 2 2 1 1 1 1 1 1 1 1
Depreciation 11 13 11 11 11 11 11 15 11 14 14 16 16
Profit before tax 71 61 143 210 129 104 180 272 121 82 83 196 76
Tax % 24% 12% 26% 26% 24% 28% 23% 26% 25% 12% 26% 27% 27%
54 54 106 155 98 75 138 202 91 72 62 144 55
EPS in Rs 1.09 1.09 2.13 3.11 1.96 1.50 2.77 4.05 1.82 1.45 1.24 2.88 1.10
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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 TTM
451 495 635 671 724 799 1,911 2,223 2,423 2,643 3,060 3,511 2,820
463 484 587 614 635 698 1,691 1,932 2,088 2,155 2,458 2,843 2,404
Operating Profit -12 10 48 57 89 101 219 291 335 488 603 668 416
OPM % -3% 2% 8% 8% 12% 13% 11% 13% 14% 18% 20% 19% 15%
1 3 3 8 26 10 31 -0 -20 19 36 45 86
Interest 0 0 2 1 1 1 5 5 7 7 8 6 5
Depreciation 0 0 6 6 7 7 24 28 41 47 45 52 59
Profit before tax -11 13 43 58 107 103 221 258 267 453 586 655 437
Tax % 0% 0% 23% 40% 40% 40% 34% 35% 23% 24% 26% 23%
-11 13 33 35 65 62 145 167 206 345 434 503 333
EPS in Rs 4.12 6.92 8.69 10.09 6.67
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 38% 18% 12% 12% 12%
Compounded Sales Growth
10 Years: 22%
5 Years: 13%
3 Years: 13%
TTM: -20%
Compounded Profit Growth
10 Years: 44%
5 Years: 28%
3 Years: 31%
TTM: -34%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 11%
1 Year: -5%
Return on Equity
10 Years: 22%
5 Years: 23%
3 Years: 24%
Last Year: 23%

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 Sep 2023
Equity Capital 233 233 233 233 233 275 275 275 499 499 499 499 499
Reserves -82 -70 -36 -2 63 360 665 761 710 1,029 1,425 1,881 2,025
0 1 0 0 0 0 10 20 36 33 38 34 29
208 202 243 234 280 288 695 791 848 1,097 1,047 955 974
Total Liabilities 359 367 440 466 576 922 1,644 1,846 2,093 2,658 3,009 3,369 3,528
53 48 47 51 52 53 267 279 319 309 390 430 501
CWIP 0 0 0 0 1 7 9 8 10 14 35 71 23
Investments 0 0 0 0 0 277 2 1 87 291 357 239 587
306 319 393 415 523 585 1,367 1,558 1,676 2,043 2,227 2,628 2,416
Total Assets 359 367 440 466 576 922 1,644 1,846 2,093 2,658 3,009 3,369 3,528

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
75 -16 20 4 52 -21 49 75 222 424 223 389
-2 -1 -8 -8 -5 -289 -40 -35 -118 -282 -281 -327
-49 0 -1 0 -0 276 7 -65 -61 -47 -63 -73
Net Cash Flow 24 -17 11 -4 47 -34 16 -26 43 95 -120 -10

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 105 96 90 83 92 101 105 110 128 117 101 98
Inventory Days 125 135 169 191 202 193 133 185 198 157
Days Payable 134 109 132 115 176 136 112 145 110 87
Cash Conversion Cycle 105 96 81 109 130 177 131 167 150 157 189 168
Working Capital Days 42 62 58 69 79 113 115 119 111 97 128 138
ROCE % -8% 8% 25% 27% 41% 22% 29% 27% 26% 33% 34% 30%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
1.22% 1.32% 1.36% 1.69% 1.90% 2.05% 2.44% 2.40% 2.51% 2.58% 2.61% 2.74%
6.57% 6.13% 6.17% 6.36% 6.70% 6.39% 5.52% 5.50% 5.50% 6.06% 6.02% 6.63%
17.21% 17.55% 17.47% 16.95% 16.40% 16.54% 17.02% 17.09% 16.96% 16.33% 16.35% 15.61%
No. of Shareholders 78,6511,19,5611,50,5891,39,6011,33,6581,46,0631,44,0181,42,5961,56,1361,47,9071,45,0831,48,764

* 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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