Bhansali Engg. Poly.

₹95.8 1.1 | 1.1%

WEBSITE BSE:500052 NSE : BHANSALI ENG 10 May, 16:01

Market Cap ₹2383 Cr.

Stock P/E 14.7

P/B 2.6

Current Price ₹95.8

Book Value ₹ 37.1

Face Value 1

52W High ₹124.8

Dividend Yield 4.18%

52W Low ₹ 79.6

Edit Ratio

Bhansali Engg. Poly. Research see more...

Overview Inc. Year: 1984Industry: Chemicals

Bhansali Engineering Polymers Ltd operates a petrochemical organization in India and the world over. The company manufactures and sells acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) resins, in addition to high rubber graft. Its products consist of heat resistant, flame retardant, transparent, and extrusion ABS resins for automobile, domestic appliances, packaging, electronics, healthcare, and electric packages; and widespread and high lubrication SAN resins for stationery objects and cosmetic packaging applications. The organization additionally offers wellknown motive, heat resistant, and direct metalizing acrylonitrile styrene acrylate resins for automotive and construction packages; and heat resistant, extrusion, and paintable polycarbonate-ABS resins for automotive, electronics, household, healthcare, packaging, construction and baggage/suitcase programs. In addition, it offers specialised grade tailor made merchandise for metallic speciality, pearl speciality, low gloss speciality, ASA/PMMA, and ABS/PMMA packages. Bhansali Engineering Polymers Ltd was incorporated in 1984 and is based in Mumbai, India.

Bhansali Engg. Poly. Share Price

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Peer Comparison

Bhansali Engg. Poly. Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	342	446	337	358	339	328	294	314	292	321
Other Income	6	4	7	7	7	8	13	9	10	8
Total Income	348	450	344	366	346	336	307	324	301	329
Total Expenditure	244	345	277	305	298	306	238	257	245	270
Operating Profit	104	106	67	60	48	30	69	67	56	59
Interest	0	0	0	1	0	0	0	0	0	0
Depreciation	2	2	2	3	3	2	2	2	2	2
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	101	103	65	57	46	27	67	64	54	57
Provision for Tax	26	30	17	16	12	13	16	16	14	16
Profit After Tax	76	73	48	41	33	14	50	48	40	40
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	76	73	48	41	34	14	51	48	40	40
Adjusted Earnings Per Share	3	2.9	1.9	1.7	1.3	0.6	1.4	1.9	1.6	1.6

Bhansali Engg. Poly. Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	601	531	626	1032	1225	1104	1292	1394	1363	1221
Other Income	2	3	8	14	7	6	10	19	29	40
Total Income	603	533	635	1045	1232	1110	1302	1413	1391	1261
Total Expenditure	576	494	563	877	1146	1018	845	931	1186	1010
Operating Profit	27	40	72	168	86	92	457	482	206	251
Interest	14	11	10	8	1	0	1	0	1	0
Depreciation	5	6	5	6	7	10	10	10	10	8
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	8	23	57	155	78	83	446	473	196	242
Provision for Tax	3	7	21	55	31	16	113	123	59	62
Profit After Tax	5	16	35	100	47	67	334	350	137	178
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	5	16	35	100	47	67	334	350	137	179
Adjusted Earnings Per Share	0.2	0.7	1.4	4	1.9	2.7	13.4	14.1	5.5	6.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-2%	7%	6%	0%
Operating Profit CAGR	-57%	31%	4%	0%
PAT CAGR	-61%	27%	6%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	18%	-5%	13%	26%
ROE Average	13%	40%	31%	28%
ROCE Average	19%	54%	43%	38%

Bhansali Engg. Poly. Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	185	127	161	257	299	356	681	981	1068
Minority's Interest	0	0	0	0	0	0	0	0	0
Borrowings	5	1	0	0	0	0	0	0	0
Other Non-Current Liabilities	1	3	8	15	25	21	21	19	19
Total Current Liabilities	203	219	250	151	205	276	75	108	80
Total Liabilities	395	349	420	423	529	653	777	1108	1167
Fixed Assets	122	82	93	107	143	150	141	145	140
Other Non-Current Assets	3	1	2	9	5	29	31	48	161
Total Current Assets	270	266	325	307	380	474	605	916	867
Total Assets	395	349	420	423	529	653	777	1108	1167

Bhansali Engg. Poly. Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	5	2	0	2	29	21	56	129	77
Cash Flow from Operating Activities	36	56	78	192	53	88	103	298	140
Cash Flow from Investing Activities	-6	-35	-12	-16	-55	-43	-21	-300	-15
Cash Flow from Financing Activities	-33	-23	-65	-149	-7	-10	-9	-50	-50
Net Cash Inflow / Outflow	-3	-2	1	27	-8	35	74	-52	75
Closing Cash & Cash Equivalent	2	1	2	29	21	56	129	77	152

Bhansali Engg. Poly. Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0.2	0.65	1.42	4.02	1.9	2.69	13.42	14.07	5.5
CEPS(Rs)	0.4	0.87	1.64	4.26	2.19	3.08	13.83	14.47	5.89
DPS(Rs)	0.1	0.1	0.2	0.3	0.5	0.5	1	3	17
Book NAV/Share(Rs)	4.52	5.09	6.49	10.34	12	14.31	27.38	39.43	42.92
Core EBITDA Margin(%)	3.7	6.22	9.02	12.82	5.47	6.67	29.3	28.27	11.01
EBIT Margin(%)	3.24	5.72	9.42	13.49	5.49	6.4	29.33	28.86	12.24
Pre Tax Margin(%)	1.21	3.85	8.03	12.84	5.41	6.39	29.29	28.85	12.17
PAT Margin (%)	0.73	2.72	5.04	8.3	3.27	5.17	21.9	21.37	8.51
Cash Profit Margin (%)	1.47	3.66	5.8	8.81	3.78	5.91	22.57	21.97	9.12
ROA(%)	1.23	4.35	9.22	23.74	9.92	11.34	46.69	37.13	12.02
ROE(%)	4.33	13.55	24.62	47.78	16.98	20.46	64.36	42.11	13.35
ROCE(%)	14.12	21.75	29.04	58.45	28.51	25.32	86.18	56.88	19.21
Receivable days	79.67	85.52	69.62	48.81	51.72	53.19	53.21	63.84	59.07
Inventory Days	40.79	48.55	57.62	33.22	22.77	43.46	38.46	34.56	41.8
Payable days	116.28	150.45	106.84	55.06	57.52	95.36	82.18	25.84	24.47
PER(x)	72.22	18.45	16.29	28.25	25.72	7.14	6.96	6.01	11.87
Price/Book(x)	3.13	2.36	3.58	10.99	4.07	1.34	3.41	2.15	1.52
Dividend Yield(%)	0.47	0.56	0.57	0.18	0.68	1.73	0.71	2.36	17.37
EV/Net Sales(x)	0.63	0.59	1.11	2.71	0.97	0.38	1.68	1.36	0.99
EV/Core EBITDA(x)	14.14	7.98	9.69	16.62	13.86	4.5	4.75	3.93	6.53
Net Sales Growth(%)	0	-11.68	17.95	64.77	18.72	-9.83	16.99	7.9	-2.25
EBIT Growth(%)	0	56.31	95.36	144.81	-51.09	5.51	439.23	5.87	-58.38
PAT Growth(%)	0	232.53	118.99	182.14	-52.62	44.03	398.25	4.99	-60.93
EPS Growth(%)	0	232.4	119	182.14	-52.8	41.95	398.24	4.83	-60.93
Debt/Equity(x)	0.37	0.25	0.85	0	0	0	0	0	0
Current Ratio(x)	1.33	1.22	1.3	2.04	1.86	1.72	8.11	8.48	10.88
Quick Ratio(x)	0.96	0.84	0.74	1.51	1.37	0.96	6.6	6.65	8.73
Interest Cover(x)	1.6	3.07	6.77	20.99	65.35	738.32	709.56	2822.91	167.88
Total Debt/Mcap(x)	0.12	0.11	0.24	0	0	0	0	0	0

Bhansali Engg. Poly. Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	56.45	56.64	56.64	56.64	56.64	56.71	57.47	57.47	57.47	57.47
FII	1.54	1.01	0.89	0.82	0.85	0.93	1.02	0.95	1.12	1.12
DII	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.04	0.05	0.06
Public	41.99	42.33	42.44	42.53	42.5	42.36	41.5	41.54	41.35	41.35
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	9.37	9.4	9.4	9.4	9.4	9.41	9.54	14.3	14.3	14.3
FII	0.26	0.17	0.15	0.14	0.14	0.15	0.17	0.24	0.28	0.28
DII	0	0	0	0	0	0	0	0.01	0.01	0.02
Public	6.97	7.02	7.04	7.06	7.05	7.03	6.88	10.34	10.29	10.29
Others	0	0	0	0	0	0	0	0	0	0
Total	16.59	16.59	16.59	16.59	16.59	16.59	16.59	24.89	24.89	24.89

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 40%
Debtor days have improved from 25.84 to 24.47days.
Company is almost debt free.

Cons

The company has delivered a poor profit growth of 6% over past five years.

* 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.