Vidhi Specialty Food Ingredients Ltd

vidhifoodcolours.com BSE: 531717 NSE : VIDHIING
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Vidhi Specialty Food Ingredients is engaged in the business of manufacturing and trading in synthetic food colors and trading in chemicals.

Website BSE NSE
  • Market Cap ₹ 1,065 Cr.
  • Current Price ₹ 213
  • High / Low ₹ 218 / 48.2
  • Stock P/E 30.5
  • Book Value ₹ 28.4
  • Dividend Yield 0.47 %
  • ROCE 31.4 %
  • ROE 29.6 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 21.75% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.62%
  • Company has been maintaining a healthy dividend payout of 18.01%

Cons

  • Stock is trading at 7.50 times its book value
  • The company has delivered a poor sales growth of 3.54% over past five years.

Peer comparison

Sector: Chemicals Industry: Dyes And Pigments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
57 57 54 56 62 52 54 54 65 40 49 79
49 45 42 46 50 39 42 42 50 30 39 64
Operating Profit 8 12 12 10 12 12 11 12 15 10 10 16
OPM % 15% 20% 22% 19% 20% 24% 21% 22% 23% 25% 20% 20%
Other Income 0 0 0 0 0 0 0 0 0 0 1 0
Interest 1 1 1 1 1 1 1 1 1 0 0 1
Depreciation 1 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 7 10 10 9 11 11 10 10 14 9 10 14
Tax % 38% 23% 31% 30% 31% 31% 17% 25% 25% 26% 25% 26%
Net Profit 4 8 7 6 8 8 9 8 10 7 8 10
EPS in Rs 0.85 1.55 1.43 1.29 1.56 1.54 1.70 1.54 2.04 1.35 1.51 2.10
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
39 71 99 115 120 143 189 185 193 213 228 225 234
35 66 91 105 108 127 162 156 164 181 182 174 183
Operating Profit 4 5 8 10 12 16 27 29 29 31 46 51 51
OPM % 10% 8% 8% 8% 10% 11% 14% 16% 15% 15% 20% 22% 22%
Other Income 0 1 1 0 0 0 0 1 1 0 1 1 1
Interest 1 1 2 4 5 5 6 6 4 5 3 3 2
Depreciation 1 1 1 1 2 2 2 2 2 2 2 3 3
Profit before tax 3 4 6 5 6 9 19 23 24 24 41 45 47
Tax % 35% 36% 39% 33% 35% 34% 36% 35% 38% 36% 29% 25%
Net Profit 2 3 4 3 4 6 12 15 15 16 29 34 35
EPS in Rs 0.32 0.57 0.74 0.68 0.83 1.20 2.49 2.95 2.93 3.13 5.82 6.82 7.00
Dividend Payout % 0% 0% 0% 0% 24% 34% 20% 27% 27% 26% 14% 15%
Compounded Sales Growth
10 Years:12%
5 Years:4%
3 Years:5%
TTM:6%
Compounded Profit Growth
10 Years:28%
5 Years:22%
3 Years:33%
TTM:10%
Stock Price CAGR
10 Years:44%
5 Years:25%
3 Years:37%
1 Year:315%
Return on Equity
10 Years:25%
5 Years:28%
3 Years:29%
Last Year:30%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
5 5 5 5 5 5 5 5 5 5 5 5 5
Reserves 14 17 21 24 27 31 40 50 61 72 96 124 137
Borrowings 4 12 27 39 43 44 47 49 62 44 44 34 7
5 8 14 15 18 21 39 18 36 35 25 24 22
Total Liabilities 28 42 66 83 93 100 131 123 164 155 170 187 171
4 3 3 13 19 18 17 31 30 29 31 31 30
CWIP 0 2 8 4 0 0 9 0 0 0 0 2 2
Investments 0 0 0 0 0 0 0 0 0 0 0 13 13
24 36 55 65 73 82 105 92 134 126 139 141 126
Total Assets 28 42 66 83 93 100 131 123 164 155 170 187 171

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
5 -4 -5 1 4 7 17 17 -9 33 22 33
-1 -2 -6 -7 -4 -1 -10 -7 -1 -1 -4 -18
-4 7 12 8 -1 -7 -4 -7 5 -29 -8 -19
Net Cash Flow -0 1 1 3 -1 -0 3 3 -5 3 10 -4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 14% 19% 19% 15% 16% 19% 30% 29% 24% 24% 33% 31%
Debtor Days 98 80 106 106 112 111 91 77 116 101 99 125
Inventory Turnover 4.04 5.80 6.37 6.90 5.27 4.56 4.31 3.94 4.01 3.75 3.97 3.70

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
64.27 64.27 64.27 64.27 64.27 64.27 64.27 64.27 64.27 64.27 64.27 64.27
0.55 0.10 0.10 0.10 0.10 0.10 0.09 0.09 0.15 0.15 0.15 0.15
0.30 0.11 0.18 0.05 0.07 0.40 1.71 1.27 0.19 0.02 0.00 0.00
34.88 35.51 35.44 35.58 35.55 35.23 33.93 34.36 35.39 35.55 35.58 35.58

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