Zuari Agro Chemicals Ltd

₹ 200 2.07%

26 Apr - close price

About

Zuari Agro Chemicals Ltd is in the business of manufacturing, trading and marketing of chemical fertilisers and fertiliser products.
The Company caters to the demand of the farmers across the country, through its “Jai Kisaan” brand of Fertilisers. ^[1]

Key Points

Products & Brands

ZACL currently is in the business of manufacturing and marketing of Single Super Phosphate (SSP) fertilizers from its manufacturing facility of 2,00,000 MT Granulated SSP at MIDC, Mahad (Maharashtra).^[1]

The co sells different products under Jai Kisaan brand portfolio which include:
Fertilisers: Samarth, Sampatti, Sampurna, Samrat, SOP, Urea & Suraksha.
Specialty Fertilisers: Atom 61, Boon 45, Boost 52, Calnit 19, Poorna 19, Sanjeevni, Satej, Sulpho 50.
Organic Manure: JK Compost
Micro nutrients: Adbor, Gandhak 90, Granubor Natur, Zinc 21. ^[2]

Website BSE NSE

Market Cap ₹ 841 Cr.
Current Price ₹ 200
High / Low ₹ 260 / 128
Stock P/E 2.73
Book Value ₹ 379
Dividend Yield 0.00 %
ROCE 10.2 %
ROE 12.8 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Stock is trading at 0.53 times its book value
Company is expected to give good quarter

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -8.92% over past five years.
Company has a low return on equity of 8.49% over last 3 years.
Promoters have pledged 38.8% 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: Fertilizers Industry: Fertilizers

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	381	659	812	935	950	893	1,296	502	1,416	1,339	1,205	1,649	843
	396	629	755	855	876	871	1,210	522	1,282	1,208	1,116	1,510	768
Operating Profit	-14	31	57	80	74	22	86	-20	134	131	90	139	75
OPM %	-4%	5%	7%	9%	8%	2%	7%	-4%	9%	10%	7%	8%	9%
	37	27	26	106	44	48	1,168	19	63	-629	15	45	43
Interest	52	30	43	44	40	45	45	51	56	54	57	55	49
Depreciation	16	21	17	16	18	16	18	17	22	21	23	23	24
Profit before tax	-46	7	24	126	60	8	1,191	-70	119	-573	25	106	45
Tax %	-1%	128%	56%	13%	27%	14%	23%	27%	13%	25%	106%	37%	37%
	-46	-2	10	109	44	7	913	-51	104	-427	-2	67	29
EPS in Rs	-11.02	-2.09	-0.19	22.81	7.05	1.35	214.51	-8.65	16.46	-108.99	-5.77	8.44	3.19
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	8,229	7,865	7,302	7,613	7,611	6,377	7,265	8,103	3,042	2,404	3,590	4,553	5,037
	7,872	7,524	7,092	7,313	7,334	5,905	6,722	7,783	3,382	2,369	3,351	4,216	4,602
Operating Profit	358	342	210	300	277	472	542	320	-340	35	239	337	434
OPM %	4%	4%	3%	4%	4%	7%	7%	4%	-11%	1%	7%	7%	9%
	91	95	138	71	50	23	113	-11	124	146	220	616	-525
Interest	153	303	380	318	419	440	404	488	278	200	173	205	214
Depreciation	29	38	34	30	66	77	83	87	68	68	67	79	92
Profit before tax	267	95	-66	23	-157	-22	169	-266	-562	-88	218	668	-396
Tax %	32%	22%	14%	29%	22%	40%	14%	-3%	-37%	-44%	22%	19%
	181	74	-57	14	-123	-13	146	-273	-773	-126	171	539	-333
EPS in Rs	130.31	15.29	-10.52	2.13	-27.40	-5.22	27.91	-68.57	-190.74	-37.35	31.01	113.33	-103.13
Dividend Payout %	2%	20%	-29%	94%	-7%	-19%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-5%
5 Years:	-9%
3 Years:	14%
TTM:	23%

Compounded Profit Growth
10 Years:	6%
5 Years:	-2%
3 Years:	29%
TTM:	254%

Stock Price CAGR
10 Years:	4%
5 Years:	2%
3 Years:	30%
1 Year:	50%

Return on Equity
10 Years:	-8%
5 Years:	-23%
3 Years:	8%
Last Year:	13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	13	42	42	42	42	42	42	42	42	42	42	42	42
Reserves	977	1,027	975	965	1,305	1,325	1,423	1,110	299	154	325	1,539	1,552
	3,577	4,426	3,747	3,434	5,047	4,299	4,506	5,235	3,368	1,851	2,643	2,108	1,754
	1,467	1,001	1,284	1,678	1,617	1,914	2,279	2,886	2,845	3,297	3,201	1,361	1,693
Total Liabilities	6,034	6,496	6,048	6,118	8,011	7,580	8,250	9,273	6,554	5,344	6,211	5,050	5,041
	345	374	450	488	1,829	1,793	1,798	1,835	1,862	1,431	1,424	1,940	1,932
CWIP	50	134	282	424	102	143	147	154	168	78	320	19	62
Investments	1	1	206	209	774	878	911	815	855	952	1,126	1,242	1,226
	5,637	5,987	5,111	4,998	5,306	4,767	5,395	6,469	3,668	2,883	3,341	1,848	1,821
Total Assets	6,034	6,496	6,048	6,118	8,011	7,580	8,250	9,273	6,554	5,344	6,211	5,050	5,041

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-1,922	919	839	-869	1,097	293	-355	2,635	1,521	571	95
	-105	-149	-286	-489	-40	-63	-103	-16	-171	-137	426
	2,364	-952	-547	1,363	-1,003	-148	360	-2,404	-1,188	-296	-697
Net Cash Flow	338	-182	6	5	54	82	-98	215	162	138	-176

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	166	201	188	159	197	198	170	176	266	69	64	63
Inventory Days	57	55	55	61	45	56	74	107	94	52	78	47
Days Payable	56	32	45	70	54	86	102	118	339	96	91	57
Cash Conversion Cycle	168	224	198	149	188	168	142	164	22	25	52	53
Working Capital Days	173	223	194	153	177	158	148	152	22	-113	-14	49
ROCE %		8%	5%	7%	5%	8%	10%	5%	-5%	3%	13%	10%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	65.04%	65.04%	65.04%	65.04%	65.28%	65.28%	65.28%	65.28%	65.28%	65.28%	65.28%	65.28%
	0.90%	0.95%	1.05%	1.01%	0.84%	1.43%	1.10%	1.13%	1.09%	1.02%	1.58%	1.27%
	2.11%	2.11%	1.77%	1.42%	1.43%	1.08%	1.00%	1.00%	1.00%	1.00%	1.00%	1.00%
	0.23%	0.23%	0.28%	0.28%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	31.72%	31.66%	31.86%	32.24%	32.17%	32.22%	32.62%	32.58%	32.62%	32.70%	32.13%	32.46%
No. of Shareholders	30,930	29,596	28,698	28,102	30,017	32,225	30,908	30,996	31,697	32,127	33,845	37,655

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	66.08%	66.08%	65.04%	65.04%	65.04%	65.04%	65.28%	65.28%
	0.41%	1.63%	2.21%	0.97%	0.90%	1.01%	1.13%	1.27%
	10.06%	9.29%	8.08%	5.16%	3.06%	1.42%	1.00%	1.00%
	0.00%	0.00%	0.00%	0.21%	0.23%	0.28%	0.00%	0.00%
	23.46%	23.01%	24.66%	28.62%	30.76%	32.24%	32.58%	32.46%
No. of Shareholders	34,632	38,041	38,621	24,457	26,337	28,102	30,996	37,655

* 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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Zuari Agro Chemicals Ltd

Zuari Agro Chemicals Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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