Zuari Agro Chemicals Ltd

Zuari Agro Chemicals Ltd

₹ 175 1.33%
24 May - 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]

  • Market Cap 735 Cr.
  • Current Price 175
  • High / Low 260 / 135
  • Stock P/E 2.38
  • Book Value 379
  • Dividend Yield 0.00 %
  • ROCE 10.2 %
  • ROE 12.8 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.46 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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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
Raw PDF
Upcoming result date: today

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: 1%
5 Years: 1%
3 Years: 20%
1 Year: 11%
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 2013 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 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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 30,93029,59628,69828,10230,01732,22530,90830,99631,69732,12733,84537,655

* 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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