Vishnu Chemicals Ltd

₹ 276 -0.34%
27 Jan - close price
About

Incorporated in 1989, Vishnu Chemicals
Limited is in the business of manufacturing, marketing and export of Chromium chemicals and Barium compounds across the world.
Located in Hyderabad, the company is serving more than 12 industries across 57 countries globally.

Key Points

Products & Usage: [1]
The company deals in two compounds which are
Chromium Compounds:
The company is the leading manufacturer in India & South Asia for Chromium compounds. The key raw material constituting more than 60% combined are Chrome Ore and Soda Ash while others are derivatives.
a) Sodium Dichromate: It is a strong oxidising agent and a source in preparing chromium based derivatives
b) Basic Chromium Sulphate: It is majorly used in the leather industry for tanning and processing
c) Chromic Acid: It is used to manufacture metals and plastic coatings
d) Chrome Oxide Green: It is used as an inorganic pigment in paints, architectural coatings, plastics, roofing tiles and ceramic tiles
e) Sodium Sulphate: It has varied range of application in daily life
f) Potassium Dichromate: It is an oxidising agent used in variety of applications such as manufacturing of matches
Barium Compounds:
Company has ~40% market share of the Barium Carbonate in India. The key raw material is Barytes.
a) Barium Carbonate: It is used in the manufacturing of electro-ceramic materials, glazes, bricks, frits and enamels.

  • Market Cap 1,651 Cr.
  • Current Price 276
  • High / Low 434 / 203
  • Stock P/E 15.1
  • Book Value 46.2
  • Dividend Yield 0.14 %
  • ROCE 22.7 %
  • ROE 25.0 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 64.8% CAGR over last 5 years

Cons

  • Promoters have pledged 36.1% of their holding.

* 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: Chemicals Industry: Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
150 141 129 131 153 109 181 161 197 257 291 304 322
134 124 116 117 137 97 163 142 174 220 245 254 269
Operating Profit 15 17 13 14 16 12 18 19 24 37 46 49 52
OPM % 10% 12% 10% 11% 11% 11% 10% 12% 12% 14% 16% 16% 16%
2 1 5 1 0 1 1 1 1 2 2 2 4
Interest 8 8 9 6 6 6 7 6 6 6 7 6 7
Depreciation 4 4 4 4 4 4 4 5 5 5 5 5 5
Profit before tax 6 6 5 5 6 3 9 10 15 28 37 40 45
Tax % 40% 44% 32% -118% 25% 25% 31% 28% 28% 27% 26% 27% 27%
Net Profit 3 3 3 10 5 2 6 7 11 20 27 29 33
EPS in Rs 0.56 0.53 0.52 1.68 0.81 0.34 0.98 1.16 1.77 3.42 4.57 4.91 5.45
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
287 329 325 352 418 463 439 562 668 571 573 907 1,174
236 274 269 288 339 378 379 492 585 504 512 779 988
Operating Profit 52 55 56 64 79 86 60 70 83 67 61 127 185
OPM % 18% 17% 17% 18% 19% 18% 14% 12% 12% 12% 11% 14% 16%
3 2 2 1 1 2 7 8 4 9 4 7 10
Interest 27 33 35 31 34 35 41 44 44 37 26 26 26
Depreciation 10 11 12 13 12 12 13 16 18 17 17 19 20
Profit before tax 16 13 11 21 34 41 12 17 25 21 22 89 150
Tax % 30% 36% 34% 38% 36% 36% 57% 45% 52% 38% -2% 27%
Net Profit 11 9 7 13 22 26 5 9 12 13 23 65 110
EPS in Rs 1.92 1.43 1.23 2.20 3.67 4.36 0.90 1.58 2.04 2.21 3.81 10.93 18.35
Dividend Payout % 0% 0% 0% 0% 11% 5% 0% 13% 10% 9% 5% 4%
Compounded Sales Growth
10 Years: 11%
5 Years: 16%
3 Years: 11%
TTM: 81%
Compounded Profit Growth
10 Years: 23%
5 Years: 65%
3 Years: 75%
TTM: 331%
Stock Price CAGR
10 Years: 41%
5 Years: 28%
3 Years: 117%
1 Year: 25%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 15%
Last Year: 25%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
59 59 59 59 59 59 12 89 89 89 89 89 12
Reserves 31 40 47 60 79 101 78 88 106 115 139 204 264
168 158 142 160 177 197 298 284 260 244 253 237 273
153 192 211 194 224 272 264 347 330 307 300 317 274
Total Liabilities 364 402 412 425 492 582 653 730 708 679 704 770 822
203 193 206 196 186 181 271 332 323 315 364 375 368
CWIP 24 42 32 36 44 62 54 7 16 27 3 3 9
Investments 0 0 0 0 0 2 6 5 7 7 6 7 11
136 167 173 192 262 338 323 386 362 330 331 385 434
Total Assets 364 402 412 425 492 582 653 730 708 679 704 770 822

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
28 51 58 -3 13 39 72 78 93 35 49 87
-10 -28 -14 -7 -9 -26 -94 -29 -19 -14 -36 -34
-23 -21 -44 7 1 -13 23 -49 -75 -17 -17 -53
Net Cash Flow -4 2 -1 -3 5 -1 0 0 -1 3 -4 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 62 55 47 65 78 88 71 89 68 51 66 69
Inventory Days 165 187 213 205 230 304 286 218 207 265 265 143
Days Payable 173 202 199 108 117 210 213 210 147 175 180 136
Cash Conversion Cycle 54 39 60 162 191 182 144 96 127 140 151 76
Working Capital Days -1 10 21 104 128 110 55 80 74 84 99 68
ROCE % 17% 18% 18% 20% 23% 23% 14% 14% 15% 13% 10% 23%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
0.00 0.00 0.00 0.00 0.00 0.08 0.20 0.30 0.46 0.58 1.25 1.10
0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
24.98 25.00 25.00 25.00 25.00 24.92 24.80 24.70 24.54 24.42 23.75 23.89

* 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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