Vinyl Chemicals (I) Ltd

Vinyl Chemicals India Ltd, a Parekh Group company, is in the business of selling various speciality chemicals mainly to textile, paints and adhesive sectors since 1991.

Pros:
Company is virtually debt free.
Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 36.59%
Cons:
The company has delivered a poor growth of 9.03% over past five years.

Peer Comparison Sector: Trading // Industry: Trading

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Quarterly Results Figures in Rs. Crores

Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018
86.87 83.49 67.90 66.59 74.73 69.95 83.13 108.88 113.23 94.83 141.31 137.81
86.53 81.31 65.22 65.99 71.84 68.44 78.53 106.12 106.19 91.15 137.36 136.15
Operating Profit 0.34 2.18 2.68 0.60 2.89 1.51 4.60 2.76 7.04 3.68 3.95 1.66
OPM % 0.39% 2.61% 3.95% 0.90% 3.87% 2.16% 5.53% 2.53% 6.22% 3.88% 2.80% 1.20%
Other Income 6.18 0.18 1.60 0.77 2.56 0.11 -0.55 4.28 -1.55 -1.99 -4.28 5.11
Interest 0.03 0.00 0.01 0.00 0.02 0.00 0.06 0.01 0.01 0.00 0.03 0.01
Depreciation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00
Profit before tax 6.49 2.36 4.27 1.37 5.43 1.62 3.99 7.03 5.47 1.69 -0.36 6.76
Tax % 36.21% 33.47% 32.79% 45.26% 34.99% 34.57% 33.58% 35.28% 37.84% 33.73% 27.78% 35.06%
Net Profit 4.14 1.57 2.87 0.75 3.53 1.06 2.65 4.55 3.40 1.12 -0.26 4.39
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
135.43 91.30 72.77 118.74 157.20 211.20 243.56 292.78 441.56 335.36 292.71 375.19 487.18
142.99 90.19 76.43 117.47 151.24 203.95 235.37 282.45 424.05 326.04 283.43 360.95 470.85
Operating Profit -7.56 1.11 -3.66 1.27 5.96 7.25 8.19 10.33 17.51 9.32 9.28 14.24 16.33
OPM % -5.58% 1.22% -5.03% 1.07% 3.79% 3.43% 3.36% 3.53% 3.97% 2.78% 3.17% 3.80% 3.35%
Other Income 10.60 2.48 4.90 7.65 0.53 0.21 0.84 1.04 1.29 3.05 4.18 3.96 -2.71
Interest 2.62 0.18 0.09 0.28 0.30 0.03 0.22 0.04 0.07 0.07 0.03 0.08 0.05
Depreciation 4.06 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01
Profit before tax -3.64 3.40 1.15 8.64 6.19 7.43 8.81 11.33 18.72 12.29 13.42 18.11 13.56
Tax % 106.32% 35.00% 23.48% 33.80% 30.53% 32.57% 32.58% 33.98% 34.08% 35.07% 35.17% 35.62%
Net Profit 0.23 2.21 0.88 5.72 4.30 5.01 5.94 7.49 12.34 7.99 8.72 11.67 8.65
EPS in Rs 0.11 0.97 0.48 3.09 2.26 2.63 3.10 3.91 6.42 4.05 4.75 6.36
Dividend Payout % 0.00% 0.00% 0.00% 3.54% 21.40% 22.04% 24.65% 24.43% 22.24% 34.36% 37.78% 37.63%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:15.18%
5 Years:9.03%
3 Years:-5.28%
TTM:44.70%
Compounded Profit Growth
10 Years:16.26%
5 Years:13.49%
3 Years:-4.10%
TTM:-26.63%
Return on Equity
10 Years:25.79%
5 Years:21.72%
3 Years:16.63%
Last Year:19.66%

Balance Sheet Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
18.34 1.84 1.84 1.84 1.84 1.84 1.83 1.83 1.83 1.83 1.83 1.83
Reserves 12.47 0.87 1.75 7.24 10.47 14.21 18.43 23.77 32.80 40.58 45.96 53.66
Borrowings 32.43 0.00 1.06 1.06 0.49 0.49 0.49 0.49 0.49 0.49 0.49 0.49
44.31 23.86 16.37 34.27 38.25 33.89 47.28 79.52 68.54 79.89 56.30 115.69
Total Liabilities 107.55 26.57 21.02 44.41 51.05 50.43 68.03 105.61 103.66 122.79 104.58 171.67
39.23 0.25 0.25 0.25 0.24 0.24 0.24 0.24 0.23 0.23 0.22 0.22
CWIP 0.46 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.26 0.09 2.54 10.13 2.50 0.00 7.50 5.10 8.91 45.01 38.55 33.82
67.60 26.18 18.23 34.03 48.31 50.19 60.29 100.27 94.52 77.55 65.81 137.63
Total Assets 107.55 26.57 21.02 44.41 51.05 50.43 68.03 105.61 103.66 122.79 104.58 171.67

Cash Flows Figures in Rs. Crores

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-5.34 -3.79 -1.69 9.84 -8.00 -4.29 7.07 2.25 0.48 34.12 -7.08 -2.71
-0.39 39.48 -2.10 -7.50 7.78 2.71 -6.67 3.30 -2.55 -32.73 10.09 7.94
5.58 -32.43 1.05 0.00 -0.56 0.00 0.00 0.00 -2.15 -3.31 -3.31 -3.97
Net Cash Flow -0.15 3.26 -2.74 2.34 -0.78 -1.58 0.40 5.55 -4.21 -1.92 -0.29 1.26

Ratios

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % -15.07% 11.04% 31.79% 121.97% 56.67% 49.49% 44.09% 44.75% 57.31% 23.94% 20.71% 30.37%
Debtor Days 37.44 25.63 16.90 44.60 58.58 50.43 49.65 65.51 39.71 53.79 56.97 75.40
Inventory Turnover 5.95 4.04 5.96 9.11 10.10 13.35 13.80 10.33 11.98 10.72 13.76 10.27