Vinati Organics Ltd

About [ edit ]

Vinati Organics is engaged in manufacturing of speciality organic intermediates and monomers.

Key Points [ edit ]
  • Market Cap 14,414 Cr.
  • Current Price 1,402
  • High / Low 1,528 / 651
  • Stock P/E 52.8
  • Book Value 137
  • Dividend Yield 0.39 %
  • ROCE 36.4 %
  • ROE 28.5 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 23.43% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.84%

Cons

  • Stock is trading at 10.23 times its book value

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
213 260 249 303 302 291 249 238 245 232 219 223
148 173 158 197 177 171 145 155 144 134 135 151
Operating Profit 65 87 91 106 125 120 104 83 102 97 84 72
OPM % 31% 33% 37% 35% 41% 41% 42% 35% 41% 42% 38% 32%
Other Income 8 17 15 7 5 11 7 15 16 9 1 9
Interest 1 0 0 0 0 0 0 0 0 0 0 0
Depreciation 4 7 7 7 7 7 7 9 10 11 11 11
Profit before tax 68 97 99 107 123 124 104 89 108 95 75 71
Tax % 23% 34% 34% 34% 33% 34% -6% 25% 31% 24% 17% 9%
Net Profit 52 64 65 71 83 82 110 67 75 72 62 64
EPS in Rs 5.05 6.25 6.33 6.88 8.03 8.01 10.70 6.50 7.26 7.03 6.04 6.24
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

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
190 232 323 447 554 696 772 631 641 730 1,128 1,029 920
157 179 253 352 434 543 580 424 423 531 703 614 565
Operating Profit 33 53 70 95 120 153 192 207 218 198 425 415 355
OPM % 17% 23% 22% 21% 22% 22% 25% 33% 34% 27% 38% 40% 39%
Other Income 5 8 6 3 4 9 9 6 12 31 30 45 36
Interest 3 4 7 9 12 18 10 8 3 2 2 2 0
Depreciation 3 5 6 7 10 15 18 19 22 23 27 33 42
Profit before tax 32 52 62 82 103 129 174 187 206 203 425 425 348
Tax % 21% 23% 17% 33% 33% 33% 33% 29% 32% 29% 34% 21%
Net Profit 25 40 52 55 69 86 116 132 140 144 282 334 273
EPS in Rs 2.55 4.06 5.28 5.56 6.97 8.75 11.22 12.75 13.59 14.00 27.48 32.48 26.57
Dividend Payout % 10% 12% 12% 18% 18% 17% 16% 16% 2% 16% 13% 17%
Compounded Sales Growth
10 Years:16%
5 Years:6%
3 Years:17%
TTM:-15%
Compounded Profit Growth
10 Years:24%
5 Years:23%
3 Years:33%
TTM:-20%
Stock Price CAGR
10 Years:45%
5 Years:49%
3 Years:51%
1 Year:49%
Return on Equity
10 Years:28%
5 Years:26%
3 Years:27%
Last Year:29%

Balance Sheet

Figures in Rs. Crores

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
10 10 10 10 10 10 10 10 10 10 10 10 10
Reserves 55 89 134 177 231 300 424 530 670 786 1,041 1,269 1,398
Borrowings 51 63 77 173 237 162 65 42 2 15 4 0 0
22 23 37 45 67 80 100 104 139 168 173 163 173
Total Liabilities 137 185 258 405 546 552 599 687 821 980 1,228 1,443 1,582
45 80 111 144 290 304 327 382 468 457 475 751 731
CWIP 43 38 36 57 14 10 20 25 7 35 191 31 52
Investments 0 0 3 8 13 3 3 3 62 132 96 227 413
49 67 107 196 229 235 249 278 284 356 465 434 386
Total Assets 137 185 258 405 546 552 599 687 821 980 1,228 1,443 1,582

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
30 29 31 20 92 131 113 167 130 138 200 416
-40 -35 -39 -61 -113 -9 -53 -72 -27 -39 -243 -197
10 6 7 72 22 -113 -75 -50 -45 -30 -40 -109
Net Cash Flow 1 -0 0 30 2 9 -16 45 59 70 -83 109

Ratios

Figures in Rs. Crores

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 % 36% 40% 36% 31% 27% 30% 38% 36% 33% 28% 46% 36%
Debtor Days 54 56 59 70 75 60 61 66 80 89 79 72
Inventory Turnover 10.71 9.36 7.55 7.50 7.50 8.98 9.65 6.61 6.15 5.78 6.66 5.19

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
74.01 74.01 74.01 74.01 74.01 74.01 74.01 74.01 74.05 74.06 74.06 74.06
3.61 3.53 3.47 3.50 3.63 4.11 4.77 5.09 5.13 5.08 3.93 3.66
6.58 6.75 6.84 6.96 6.56 6.20 6.39 5.97 6.06 6.17 6.59 6.66
15.80 15.71 15.68 15.53 15.80 15.68 14.83 14.93 14.76 14.69 15.42 15.62

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