Vadivarhe Speciality Chemicals Ltd

Vadivarhe Speciality Chemicals Ltd

₹ 39.0 -5.00%
29 Apr - close price
About

Incorporated in 2009, Vadivarhe Speciality Chemicals Ltd is in the business of manufacturing Specialty Chemicals, Intermediates & API

Key Points

Business Overview:[1][2]
Company manufactures Active Pharmaceutical Ingredients, bulk drugs, special chemicals, Organic Chemicals, Inorganic Chemicals, Bio-Chemicals and Drug Intermediaries. Raw materials are procured primarily from local market and imported from China. Further, finished products of VSCL are sold locally and
also exported to the countries viz, UK,
USA, Switzerland and Malaysia. Company's manufacturing unit is located at Nashik
with an installed capacity of 150 MTPA

  • Market Cap 49.8 Cr.
  • Current Price 39.0
  • High / Low 55.0 / 27.4
  • Stock P/E
  • Book Value 2.09
  • Dividend Yield 0.00 %
  • ROCE 7.61 %
  • ROE 13.5 %
  • Face Value 10.0

Pros

  • Debtor days have improved from 69.4 to 48.2 days.

Cons

  • Stock is trading at 18.6 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -39.1% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.1.01 Cr.

* 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

Loading peers table ...

Half Yearly Results

Figures in Rs. Crores

Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023
12.02 13.85 12.62 9.82 11.63 21.36 22.32 14.10
16.73 14.32 12.78 12.39 15.98 19.80 20.58 15.01
Operating Profit -4.71 -0.47 -0.16 -2.57 -4.35 1.56 1.74 -0.91
OPM % -39.18% -3.39% -1.27% -26.17% -37.40% 7.30% 7.80% -6.45%
0.27 0.90 0.18 0.33 0.34 0.28 0.82 0.19
Interest 0.67 0.59 0.64 0.87 0.70 0.78 0.69 0.71
Depreciation 0.82 0.90 0.91 0.91 0.88 0.89 0.89 0.87
Profit before tax -5.93 -1.06 -1.53 -4.02 -5.59 0.17 0.98 -2.30
Tax % 32.38% 0.00% -11.11% 0.00% 0.00% 0.00% 0.00% -63.04%
-4.01 -1.06 -1.70 -4.01 -5.59 0.17 0.98 -3.75
EPS in Rs -3.14 -0.83 -1.33 -3.14 -4.37 0.13 0.77 -2.93
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
10.95 13.16 13.87 19.03 26.28 35.03 25.56 32.36 28.58 26.47 21.45 43.68 36.42
11.91 15.41 11.18 11.52 18.89 24.64 21.80 29.97 37.82 27.01 28.24 40.22 35.59
Operating Profit -0.96 -2.25 2.69 7.51 7.39 10.39 3.76 2.39 -9.24 -0.54 -6.79 3.46 0.83
OPM % -8.77% -17.10% 19.39% 39.46% 28.12% 29.66% 14.71% 7.39% -32.33% -2.04% -31.66% 7.92% 2.28%
-0.09 0.05 0.11 0.11 0.14 1.05 0.45 0.40 0.37 1.08 0.66 1.09 1.01
Interest 0.22 1.10 1.02 0.89 1.21 0.85 0.77 1.11 1.37 1.32 1.69 1.61 1.40
Depreciation 1.05 1.69 1.65 1.09 1.36 1.14 1.27 1.63 1.75 1.81 1.79 1.79 1.76
Profit before tax -2.32 -4.99 0.13 5.64 4.96 9.45 2.17 0.05 -11.99 -2.59 -9.61 1.15 -1.32
Tax % 0.00% 32.06% 46.15% 29.61% 13.51% 36.51% 18.43% -20.00% 17.93% -6.56% 0.00% 0.00%
-2.33 -3.39 0.07 3.98 4.29 6.01 1.77 0.06 -9.84 -2.76 -9.61 1.15 -2.77
EPS in Rs -120.41 -70.07 1.45 82.27 88.67 4.97 1.38 0.05 -7.70 -2.16 -7.52 0.90 -2.16
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 13%
5 Years: 11%
3 Years: 15%
TTM: 10%
Compounded Profit Growth
10 Years: 8%
5 Years: -14%
3 Years: 28%
TTM: 42%
Stock Price CAGR
10 Years: %
5 Years: 3%
3 Years: 37%
1 Year: 20%
Return on Equity
10 Years: -4%
5 Years: -27%
3 Years: -39%
Last Year: 14%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 1.94 4.84 4.84 4.84 4.84 12.09 12.78 12.78 12.78 12.78 12.78 12.78 12.78
Reserves 10.91 5.66 5.73 9.68 12.62 11.38 14.64 14.70 4.87 2.11 -7.50 -6.36 -10.11
12.50 16.77 14.35 11.24 10.65 12.74 9.66 20.98 19.67 23.45 24.42 26.94 25.03
2.47 4.26 7.75 3.67 5.09 9.52 7.13 9.28 14.00 8.84 11.97 13.08 8.48
Total Liabilities 27.82 31.53 32.67 29.43 33.20 45.73 44.21 57.74 51.32 47.18 41.67 46.44 36.18
17.88 17.79 15.93 15.02 13.96 17.12 19.68 26.09 25.20 25.98 24.32 23.36 22.25
CWIP 0.60 0.00 0.00 0.00 0.00 0.09 1.58 1.88 2.81 0.33 1.09 0.99 1.25
Investments 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05
9.29 13.69 16.69 14.36 19.19 28.47 22.90 29.72 23.26 20.82 16.21 22.04 12.63
Total Assets 27.82 31.53 32.67 29.43 33.20 45.73 44.21 57.74 51.32 47.18 41.67 46.44 36.18

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0.00 -2.83 6.41 5.27 3.18 2.09 7.15 -1.22 4.10 -0.28 1.24 -0.35
0.00 -1.03 0.00 -0.18 -0.64 -4.33 -5.32 -8.27 -1.68 0.02 -0.82 -0.69
0.00 3.87 -6.19 -4.01 -3.43 1.88 -1.12 9.25 -2.34 0.58 -0.60 1.05
Net Cash Flow 0.00 0.02 0.22 1.07 -0.89 -0.37 0.70 -0.23 0.08 0.32 -0.18 0.00

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 80.33 71.56 135.00 70.97 117.50 159.63 122.95 143.25 104.34 125.62 34.37 48.22
Inventory Days 140.77 188.83 223.98 221.86 116.68 61.66 170.63 221.62 122.32 77.40 168.42 120.82
Days Payable 94.08 146.00 128.58 50.10 108.01 115.85 120.38 174.61 205.42 152.95 218.56 145.63
Cash Conversion Cycle 127.02 114.38 230.40 242.73 126.18 105.44 173.20 190.26 21.24 50.07 -15.76 23.40
Working Capital Days 168.00 85.70 76.84 102.23 86.67 140.56 143.80 155.66 61.30 76.25 37.95 56.07
ROCE % -9.33% -14.79% 4.41% 25.77% 22.61% 29.66% 7.86% 2.88% -25.06% -5.34% -24.02% 7.61%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.62% 74.62% 74.64% 74.64% 74.64% 74.64% 74.64% 74.64% 74.64% 74.64% 74.64% 74.64%
25.39% 25.38% 25.38% 25.36% 25.38% 25.36% 25.36% 25.36% 25.36% 25.36% 25.36% 25.36%
No. of Shareholders 334334334329338346340339350356360351

Documents