Market Cap ₹881 Cr.
Stock P/E 46.4
P/B 7.4
Current Price ₹1660.3
Book Value ₹ 225.5
Face Value 10
52W High ₹2337
Dividend Yield 0.12%
52W Low ₹ 1293.2
De Nora India Ltd designs, manufactures and supplies electrodes, coatings and electrochemical solutions which is engaged in providing electrolytic products. The Company is a supplier of technologies for the manufacturing of chlorine, caustic soda and derivatives for the chlor-alkali industry, as well as producer and recoater of metallic-covered electrodes, electrolyzers, coating solutions for the electrochemical industry. The Company has operations within the fields of cathode and anode for chlor-alkali enterprise, electrochlorinators and cathodic safety systems. The Company serves numerous markets, which include agriculture and livestock, chlorine and caustic industry, bleaching chemical substances, corrosion prevention, electronics, energy, food enterprise, marine, mining, pools, expert cleaning, renewable electricity storage, surface finishing, municipal, and veterinary and animal care. The Company's manufacturers encompass ATC, DSA, DOUBLE DECKER, ESA, LIDA, NRG, PMX, SLM, SOLEVA and TIBAC.
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| #(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 | 15 | 39 | 12 | 14 | 19 | 28 | 9 | 19 | 29 | 16 |
| Other Income | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Total Income | 15 | 39 | 13 | 15 | 21 | 29 | 10 | 20 | 31 | 18 |
| Total Expenditure | 12 | 25 | 10 | 13 | 14 | 12 | 9 | 11 | 22 | 10 |
| Operating Profit | 4 | 15 | 3 | 2 | 7 | 17 | 1 | 9 | 9 | 8 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 3 | 14 | 2 | 2 | 6 | 16 | 1 | 9 | 8 | 8 |
| Provision for Tax | 1 | 4 | 1 | 1 | 2 | 4 | 0 | 2 | 2 | 2 |
| Profit After Tax | 2 | 10 | 2 | 2 | 5 | 12 | 1 | 6 | 6 | 6 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 2 | 10 | 2 | 2 | 5 | 12 | 1 | 6 | 6 | 6 |
| Adjusted Earnings Per Share | 4.5 | 19 | 3 | 3 | 9.1 | 23.2 | 1 | 12 | 12.2 | 10.7 |
| #(Fig in Cr.) | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 64 | 36 | 31 | 51 | 27 | 27 | 33 | 48 | 51 | 74 | 74 | 73 |
| Other Income | 1 | 1 | 2 | 4 | 3 | 3 | 4 | 2 | 2 | 1 | 4 | 5 |
| Total Income | 66 | 37 | 33 | 55 | 30 | 30 | 37 | 51 | 52 | 75 | 77 | 79 |
| Total Expenditure | 46 | 29 | 25 | 35 | 25 | 25 | 32 | 38 | 42 | 51 | 49 | 52 |
| Operating Profit | 20 | 8 | 7 | 19 | 5 | 5 | 4 | 13 | 10 | 24 | 29 | 27 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 19 | 7 | 6 | 18 | 4 | 3 | 2 | 10 | 8 | 21 | 27 | 26 |
| Provision for Tax | 6 | 2 | 2 | 6 | 1 | 1 | 0 | 2 | 2 | 6 | 7 | 6 |
| Profit After Tax | 13 | 5 | 4 | 12 | 3 | 2 | 2 | 8 | 6 | 15 | 20 | 19 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 13 | 5 | 4 | 12 | 3 | 2 | 2 | 8 | 6 | 15 | 20 | 19 |
| Adjusted Earnings Per Share | 25.1 | 9 | 8 | 22.6 | 5.6 | 3.2 | 3 | 15.3 | 10.6 | 29.1 | 38.2 | 35.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 16% | 22% | 1% |
| Operating Profit CAGR | 21% | 31% | 42% | 4% |
| PAT CAGR | 33% | 36% | 58% | 4% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 11% | 77% | 46% | 30% |
| ROE Average | 22% | 17% | 14% | 16% |
| ROCE Average | 30% | 23% | 18% | 23% |
| #(Fig in Cr.) | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 34 | 36 | 39 | 49 | 52 | 52 | 53 | 61 | 67 | 82 | 102 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1 | -1 | -1 | -1 | -1 | -0 | 6 | -1 | -1 | 3 | 10 |
| Total Current Liabilities | 14 | 12 | 8 | 12 | 11 | 10 | 11 | 14 | 13 | 17 | 20 |
| Total Liabilities | 50 | 47 | 47 | 59 | 62 | 62 | 71 | 74 | 79 | 102 | 132 |
| Fixed Assets | 6 | 7 | 7 | 7 | 7 | 14 | 12 | 10 | 10 | 7 | 8 |
| Other Non-Current Assets | 2 | 5 | 3 | 13 | 10 | 4 | 10 | 2 | 1 | 6 | 14 |
| Total Current Assets | 41 | 34 | 37 | 38 | 45 | 45 | 49 | 62 | 68 | 88 | 110 |
| Total Assets | 50 | 47 | 47 | 59 | 62 | 62 | 71 | 74 | 79 | 102 | 132 |
| #(Fig in Cr.) | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 3 | 1 | 0 | 1 | 3 | 1 | 2 | 2 | 19 | 14 |
| Cash Flow from Operating Activities | 17 | -4 | 10 | 14 | 7 | 2 | -6 | -7 | 16 | 12 | 14 |
| Cash Flow from Investing Activities | -11 | 7 | -8 | -12 | -3 | -2 | 7 | 7 | 1 | -16 | -24 |
| Cash Flow from Financing Activities | -5 | -4 | -3 | -1 | -3 | -1 | -1 | 1 | -1 | -1 | -1 |
| Net Cash Inflow / Outflow | 1 | -1 | -1 | 1 | 1 | -2 | 1 | 1 | 16 | -5 | -10 |
| Closing Cash & Cash Equivalent | 3 | 1 | 0 | 1 | 3 | 1 | 2 | 2 | 19 | 14 | 4 |
| # | Dec 2012 | Dec 2013 | Dec 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 25.07 | 9 | 8.01 | 22.56 | 5.61 | 3.18 | 2.99 | 15.31 | 10.64 | 29.1 | 38.19 |
| CEPS(Rs) | 26.19 | 10.34 | 10.27 | 24.74 | 7.22 | 7.19 | 7.76 | 20.19 | 15.54 | 34.13 | 40.77 |
| DPS(Rs) | 7 | 4 | 1.5 | 4 | 2 | 1 | 0 | 0 | 1 | 1 | 2 |
| Book NAV/Share(Rs) | 63.45 | 67.71 | 73.96 | 91.66 | 97.81 | 98.66 | 100.26 | 115.53 | 126.16 | 154.24 | 191.53 |
| Core EBITDA Margin(%) | 27.57 | 18.56 | 16.43 | 29.91 | 7.39 | 7.15 | 1.46 | 21.87 | 16.65 | 30.87 | 33.64 |
| EBIT Margin(%) | 28.77 | 19.63 | 19.76 | 34.94 | 16.36 | 11.31 | 5.9 | 21.6 | 15.11 | 28.56 | 37.01 |
| Pre Tax Margin(%) | 28.41 | 18.71 | 19.24 | 34.71 | 16.12 | 11.28 | 5.55 | 21.47 | 14.99 | 28.26 | 36.9 |
| PAT Margin (%) | 19.62 | 12.92 | 13.59 | 23.11 | 10.81 | 6.2 | 4.84 | 16.85 | 11.17 | 20.83 | 27.56 |
| Cash Profit Margin (%) | 20.5 | 14.85 | 17.42 | 25.35 | 13.9 | 14 | 12.56 | 22.23 | 16.32 | 24.43 | 29.42 |
| ROA(%) | 28.59 | 9.92 | 9.08 | 22.65 | 4.92 | 2.71 | 2.38 | 11.18 | 7.37 | 17.1 | 17.36 |
| ROE(%) | 44.57 | 13.72 | 11.31 | 27.24 | 5.93 | 3.24 | 3.01 | 14.19 | 8.8 | 20.76 | 22.09 |
| ROCE(%) | 65.33 | 20.84 | 16.45 | 41.19 | 8.96 | 5.91 | 3.67 | 18.07 | 11.84 | 28.46 | 29.68 |
| Receivable days | 53.82 | 109.14 | 142.92 | 77.72 | 108.7 | 71.83 | 57.07 | 69.43 | 85.78 | 55.82 | 71.46 |
| Inventory Days | 63.63 | 106.58 | 105.43 | 44.45 | 73.02 | 79.93 | 132.4 | 162.4 | 163.88 | 106.44 | 130.13 |
| Payable days | 69.11 | 82.88 | 78.76 | 61.39 | 127.26 | 217.33 | 159.92 | 95.66 | 55.55 | 38.65 | 66.54 |
| PER(x) | 10.36 | 16.12 | 18.09 | 14.13 | 40.93 | 134.1 | 99.48 | 8.53 | 23.61 | 13.73 | 22.2 |
| Price/Book(x) | 4.09 | 2.14 | 1.96 | 3.48 | 2.35 | 4.33 | 2.97 | 1.13 | 1.99 | 2.59 | 4.43 |
| Dividend Yield(%) | 2.7 | 2.76 | 1.04 | 1.26 | 0.87 | 0.23 | 0 | 0 | 0.4 | 0.25 | 0.24 |
| EV/Net Sales(x) | 2.07 | 2.12 | 2.45 | 3.3 | 4.1 | 7.98 | 4.46 | 1.15 | 2.04 | 2.57 | 5.91 |
| EV/Core EBITDA(x) | 6.6 | 9.51 | 10.13 | 8.71 | 20.38 | 41.41 | 32.73 | 4.28 | 10.09 | 8 | 15.2 |
| Net Sales Growth(%) | 88.58 | -44.27 | -14.77 | 66.57 | -47.53 | 1.33 | 21.29 | 47.11 | 4.79 | 46.75 | -0.79 |
| EBIT Growth(%) | 170.82 | -62.81 | -14.73 | 192.73 | -75.11 | -31.65 | -37.19 | 438.26 | -26.67 | 177.31 | 28.57 |
| PAT Growth(%) | 178.27 | -64.11 | -10.95 | 181.62 | -75.11 | -43.28 | -6.11 | 412.16 | -30.54 | 173.67 | 31.23 |
| EPS Growth(%) | 185.37 | -64.11 | -10.95 | 181.62 | -75.11 | -43.28 | -6.11 | 412.16 | -30.54 | 173.67 | 31.23 |
| Debt/Equity(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 |
| Current Ratio(x) | 2.81 | 2.93 | 4.44 | 3.33 | 3.98 | 4.4 | 4.3 | 4.48 | 5.38 | 5.2 | 5.52 |
| Quick Ratio(x) | 2.11 | 2.01 | 3.63 | 2.82 | 3.53 | 3.73 | 2.8 | 2.6 | 3.84 | 3.79 | 4.08 |
| Interest Cover(x) | 80.19 | 21.47 | 38 | 148.22 | 70.77 | 381.48 | 16.81 | 161.11 | 117.89 | 93.65 | 329.73 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 53.68 | 53.68 | 53.68 | 53.68 | 53.68 | 53.68 | 53.68 | 53.68 | 53.68 | 53.68 |
| FII | 0 | 0 | 0 | 0 | 0.52 | 0.56 | 0.56 | 0.25 | 0.19 | 0.11 |
| DII | 0 | 0 | 0.19 | 0 | 0 | 0 | 0 | 0 | 0.22 | 0.22 |
| Public | 46.32 | 46.32 | 46.13 | 46.32 | 45.8 | 45.76 | 45.76 | 46.07 | 45.92 | 46 |
| 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 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.25 | 0.25 | 0.24 | 0.25 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 | 0.53 |
Pros
Cons
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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