Vinyl Chemicals (I) Ltd

₹ 275 -2.52%

30 Apr - close price

vinylchemicals.com BSE: 524129 NSE: VINYLINDIA

About

Incorporated in 1986, Vinyl Chemicals
(India) Ltd is in the business of dealing
in chemicals, mainly Vinyl Acetate Monomer (VAM)^[1]

Key Points

Business Overview:^[1]^[2]
VCIL is a Parekh Group Company, promoted by Pidilite Industries Ltd (40.6% as of 31 March 2024). It was involved in manufacturing VAM at its
plant located in Mahad in Raigad District, Maharashtra, but the said manufacturing unit was demerged into PIL. Post-de-merger, company's main focus remains in trading Vinyl Acetate Monomer (VAM), which is now imported /sourced from various Global suppliers and distributed /traded in India.
VCIL is the leading importer of VAM, with one-third of India’s VAM imports. Being a key input for PIL’s end-product (adhesives), almost 95% of PIL’s VAM requirement is being sourced from VCIL

Website BSE NSE

Market Cap ₹ 505 Cr.
Current Price ₹ 275
High / Low ₹ 444 / 215
Stock P/E 22.3
Book Value ₹ 62.4
Dividend Yield 2.45 %
ROCE 22.7 %
ROE 16.7 %
Face Value ₹ 1.00

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Pros

Company is almost debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 28.8%
Company has been maintaining a healthy dividend payout of 53.5%

Cons

The company has delivered a poor sales growth of 4.34% over past five years.
Debtor days have increased from 27.0 to 65.0 days.

* 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: Trading Industry: Trading

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	333.08	120.50	310.75	324.17	270.66	106.93	115.31	154.40	159.03	168.27	155.63	150.34	146.40
	319.10	104.62	301.06	311.30	260.62	97.41	111.87	149.87	150.28	159.63	149.65	144.39	142.74
Operating Profit	13.98	15.88	9.69	12.87	10.04	9.52	3.44	4.53	8.75	8.64	5.98	5.95	3.66
OPM %	4.20%	13.18%	3.12%	3.97%	3.71%	8.90%	2.98%	2.93%	5.50%	5.13%	3.84%	3.96%	2.50%
	0.29	3.55	5.00	0.70	0.16	0.99	1.26	0.82	0.64	1.73	0.78	1.05	2.99
Interest	0.05	0.03	0.09	0.15	0.17	0.94	0.01	0.02	0.01	0.01	0.01	0.02	0.01
Depreciation	0.00	0.00	0.02	0.03	0.02	0.03	0.03	0.02	0.02	0.03	0.02	0.03	0.03
Profit before tax	14.22	19.40	14.58	13.39	10.01	9.54	4.66	5.31	9.36	10.33	6.73	6.95	6.61
Tax %	25.32%	25.21%	25.10%	24.94%	26.37%	23.48%	24.89%	26.93%	25.96%	27.11%	26.89%	26.19%	24.21%
	10.62	14.51	10.92	10.05	7.37	7.30	3.50	3.88	6.93	7.53	4.92	5.13	5.01
EPS in Rs	5.79	7.91	5.96	5.48	4.02	3.98	1.91	2.12	3.78	4.11	2.68	2.80	2.73
Raw PDF

Upcoming result date: 5 May 2025

Profit & Loss

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	244	293	442	335	293	375	483	372	404	865	1,013	597	621
	235	282	424	326	283	361	469	366	389	821	966	572	596
Operating Profit	8	10	18	9	9	14	14	6	15	44	47	25	24
OPM %	3%	4%	4%	3%	3%	4%	3%	2%	4%	5%	5%	4%	4%
	1	1	1	3	4	4	1	4	0	2	2	4	7
Interest	0	0	0	0	0	0	0	0	0	0	1	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	9	11	19	12	13	18	14	10	15	47	48	30	31
Tax %	33%	34%	34%	35%	35%	36%	37%	25%	26%	25%	25%	26%
	6	7	12	8	9	12	9	7	11	35	36	22	23
EPS in Rs	3.24	4.08	6.73	4.36	4.76	6.36	4.83	4.07	6.19	19.01	19.44	11.91	12.32
Dividend Payout %	25%	24%	22%	34%	38%	38%	50%	59%	60%	52%	51%	57%

Compounded Sales Growth
10 Years:	7%
5 Years:	4%
3 Years:	14%
TTM:	16%

Compounded Profit Growth
10 Years:	11%
5 Years:	17%
3 Years:	20%
TTM:	5%

Stock Price CAGR
10 Years:	14%
5 Years:	34%
3 Years:	-2%
1 Year:	-30%

Return on Equity
10 Years:	23%
5 Years:	25%
3 Years:	29%
Last Year:	17%

Balance Sheet

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	2	2	2	2	2	2	2	2	2	2	2	2	2
Reserves	18	24	33	41	46	54	57	59	66	94	111	115	113
	0	0	0	0	0	0	0	0	0	1	0	0	0
	47	80	69	80	56	115	84	94	200	65	62	188	119
Total Liabilities	68	106	104	123	104	171	144	156	269	162	176	305	234
	0	0	0	0	0	0	0	0	0	0	1	1	1
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	8	5	9	45	39	34	2	47	55	78	40	57	79
	60	100	95	78	66	137	141	108	214	84	135	247	154
Total Assets	68	106	104	123	104	171	144	156	269	162	176	305	234

Cash Flows

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	7	2	0	34	-7	-3	-21	51	11	17	-20	36
	-7	3	-3	-33	10	8	34	-44	-6	-21	40	-14
	0	0	-2	-3	-3	-4	-5	-5	-4	-7	-19	-18
Net Cash Flow	0	6	-4	-2	-0	1	7	2	0	-11	1	4

Ratios

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	50	66	40	54	57	75	48	45	100	5	11	65
Inventory Days	33	48	33	29	23	57	53	50	70	24	33	78
Days Payable	69	99	53	88	69	116	63	95	188	26	22	118
Cash Conversion Cycle	14	15	20	-5	11	17	39	-1	-17	3	22	25
Working Capital Days	17	16	19	-4	11	19	36	2	2	7	26	32
ROCE %	44%	45%	57%	24%	21%	30%	24%	14%	23%	55%	44%	23%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	50.62%	50.41%	50.41%	50.41%	50.41%	50.41%	50.41%	50.41%	50.41%	50.41%	50.41%	50.41%
	0.42%	1.39%	1.64%	1.20%	0.00%	0.00%	0.00%	0.09%	0.00%	0.04%	0.01%	0.00%
	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%
	48.95%	48.20%	47.95%	48.37%	49.58%	49.57%	49.57%	49.49%	49.57%	49.55%	49.55%	49.56%
No. of Shareholders	34,132	39,670	42,945	43,792	45,130	46,195	45,819	44,460	44,255	43,083	42,338	41,924

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	50.43%	50.52%	50.62%	50.62%	50.62%	50.62%	50.41%	50.41%	50.41%
	0.00%	0.01%	0.00%	0.00%	0.00%	0.16%	1.20%	0.09%	0.00%
	0.32%	0.31%	0.25%	0.24%	0.01%	0.00%	0.00%	0.00%	0.02%
	49.25%	49.16%	49.13%	49.14%	49.37%	49.22%	48.37%	49.49%	49.56%
No. of Shareholders	21,812	21,863	21,340	20,592	27,973	34,474	43,792	44,460	41,924

* 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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Vinyl Chemicals (I) Ltd

Vinyl Chemicals (I) Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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