Vinyl Chemicals (I) Ltd
Incorporated in 1986, Vinyl Chemicals
(India) Ltd is in the business of dealing
in chemicals, mainly Vinyl Acetate Monomer (VAM)[1]
- Market Cap ₹ 579 Cr.
- Current Price ₹ 316
- High / Low ₹ 444 / 215
- Stock P/E 26.0
- Book Value ₹ 69.1
- Dividend Yield 2.22 %
- ROCE 24.9 %
- ROE 18.4 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 55.1%
Cons
- The company has delivered a poor sales growth of 10.9% over past five years.
- Debtor days have increased from 45.8 to 61.2 days.
- Working capital days have increased from 41.4 days to 66.6 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
Commodities Chemicals Chemicals & Petrochemicals Trading - Chemicals
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
293 | 442 | 335 | 293 | 375 | 483 | 372 | 404 | 865 | 1,013 | 597 | 625 | |
282 | 424 | 326 | 283 | 361 | 469 | 366 | 389 | 821 | 966 | 572 | 600 | |
Operating Profit | 10 | 18 | 9 | 9 | 14 | 14 | 6 | 15 | 44 | 47 | 25 | 26 |
OPM % | 4% | 4% | 3% | 3% | 4% | 3% | 2% | 4% | 5% | 5% | 4% | 4% |
1 | 1 | 3 | 4 | 4 | 1 | 4 | 0 | 2 | 2 | 4 | 5 | |
Interest | 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 |
Profit before tax | 11 | 19 | 12 | 13 | 18 | 14 | 10 | 15 | 47 | 48 | 30 | 30 |
Tax % | 34% | 34% | 35% | 35% | 36% | 37% | 25% | 26% | 25% | 25% | 26% | 27% |
7 | 12 | 8 | 9 | 12 | 9 | 7 | 11 | 35 | 36 | 22 | 22 | |
EPS in Rs | 4.08 | 6.73 | 4.36 | 4.76 | 6.36 | 4.83 | 4.07 | 6.19 | 19.01 | 19.44 | 11.91 | 12.18 |
Dividend Payout % | 24% | 22% | 34% | 38% | 38% | 50% | 59% | 60% | 52% | 51% | 57% | 57% |
Compounded Sales Growth | |
---|---|
10 Years: | 4% |
5 Years: | 11% |
3 Years: | -10% |
TTM: | 5% |
Compounded Profit Growth | |
---|---|
10 Years: | 7% |
5 Years: | 28% |
3 Years: | -13% |
TTM: | 16% |
Stock Price CAGR | |
---|---|
10 Years: | 15% |
5 Years: | 28% |
3 Years: | 5% |
1 Year: | -23% |
Return on Equity | |
---|---|
10 Years: | 21% |
5 Years: | 25% |
3 Years: | 22% |
Last Year: | 18% |
Balance Sheet
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
Reserves | 24 | 33 | 41 | 46 | 54 | 57 | 59 | 66 | 94 | 111 | 115 | 125 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | |
80 | 69 | 80 | 56 | 115 | 84 | 94 | 200 | 65 | 62 | 188 | 135 | |
Total Liabilities | 106 | 104 | 123 | 104 | 171 | 144 | 156 | 269 | 162 | 176 | 305 | 262 |
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 |
Investments | 5 | 9 | 45 | 39 | 34 | 2 | 47 | 55 | 78 | 40 | 57 | 68 |
100 | 95 | 78 | 66 | 137 | 141 | 108 | 214 | 84 | 135 | 247 | 193 | |
Total Assets | 106 | 104 | 123 | 104 | 171 | 144 | 156 | 269 | 162 | 176 | 305 | 262 |
Cash Flows
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2 | 0 | 34 | -7 | -3 | -21 | 51 | 11 | 17 | -20 | 36 | 24 | |
3 | -3 | -33 | 10 | 8 | 34 | -44 | -6 | -21 | 40 | -14 | -6 | |
0 | -2 | -3 | -3 | -4 | -5 | -5 | -4 | -7 | -19 | -18 | -12 | |
Net Cash Flow | 6 | -4 | -2 | -0 | 1 | 7 | 2 | 0 | -11 | 1 | 4 | 5 |
Ratios
Figures in Rs. Crores
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 66 | 40 | 54 | 57 | 75 | 48 | 45 | 100 | 5 | 11 | 65 | 61 |
Inventory Days | 48 | 33 | 29 | 23 | 57 | 53 | 50 | 70 | 24 | 33 | 78 | 39 |
Days Payable | 99 | 53 | 88 | 69 | 116 | 63 | 95 | 188 | 26 | 22 | 118 | 78 |
Cash Conversion Cycle | 15 | 20 | -5 | 11 | 17 | 39 | -1 | -17 | 3 | 22 | 25 | 23 |
Working Capital Days | 16 | 19 | -4 | 11 | 19 | 36 | 2 | 2 | 7 | 26 | 32 | 67 |
ROCE % | 45% | 57% | 24% | 21% | 30% | 24% | 14% | 23% | 55% | 44% | 23% | 25% |
Documents
Announcements
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
27 Jun - Annual Secretarial Compliance Report for FY ended March 31, 2025 submitted.
-
Advertisement-39Th Annual General Meeting
27 Jun - Vinyl Chemicals announces 39th AGM on July 30, 2025 via video conference.
- Intimation Of Date Of Annual General Meeting And Record Date For Payment Of Dividend On Equity Shares For The Financial Year 2024-2025 24 Jun
-
Intimation Of Date Of Annual General Meeting For The Financial Year 2024-2025
24 Jun - AGM on 30 July 2025; record date 15 July 2025; dividend payment post-4 August 2025.
-
Board Meeting Intimation for Intimation Of Date Of Board Meeting For Consideration Of Unaudited Financial Results For The Quarter Ended 30/06/2025.
24 Jun - Board meeting on 30 July 2025 to consider Q1 unaudited results; trading window closed 30 June-1 Aug.
Annual reports
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Financial Year 2024
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
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Financial Year 2010
from nse
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Financial Year 2010
from bse
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