Dhunseri Ventures

₹308.5 0.4 | 0.1%

WEBSITE BSE:523736 NSE : DVL 10 May, 16:01

Market Cap ₹1081 Cr.

Stock P/E 5.6

P/B 0.4

Current Price ₹308.5

Book Value ₹ 810.7

Face Value 10

52W High ₹558

Dividend Yield 1.62%

52W Low ₹ 232.3

Edit Ratio

Dhunseri Ventures Research see more...

Overview Inc. Year: 1916Industry: Chemicals

Dhunseri Ventures Ltd, formerly Dhunseri Petrochem Ltd, is a holding business enterprise which is a manufacturer of polyethylene terephthalate (PET) resin in India. The Company's segments are India and Egypt. Its product portfolio consists of various grades of PET resin (bottle), including hot fill and film grades that locate utility in numerous downstream sectors, consisting of packaged liquids, alcoholic drinks, edible oils, pharma, dairy products and biaxially-oriented polyethylene terephthalate (BOPET), among others. Its polymer is used in the manufacture of packaging medium, along with PET bottles, jars and films. It markets PET resin below the ASPET emblem. It's PET resin plants are in West Bengal. It has advertising presence in about 40 international locations throughout Asia, Africa, Europe, North America and South America. Its subsidiaries encompass Egyptian Indian Polyester Company S.A.E., Dhunseri Infrastructure Ltd and Dhunseri Petglobal Ltd.

Dhunseri Ventures Share Price

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Peer Comparison

Dhunseri Ventures Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	46	32	136	39	50	36	140	40	43	57
Other Income	16	18	20	21	21	17	17	19	20	19
Total Income	62	50	156	60	71	54	157	60	63	75
Total Expenditure	18	21	145	57	22	51	136	25	26	44
Operating Profit	44	29	11	3	48	3	21	35	36	31
Interest	1	2	2	1	1	2	2	1	1	8
Depreciation	6	5	5	5	5	6	6	6	6	7
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	38	22	4	-3	42	-4	13	28	30	16
Provision for Tax	16	25	27	64	64	32	17	7	19	6
Profit After Tax	22	-3	-24	-66	-22	-36	-4	22	11	11
Adjustments	37	87	143	243	237	121	70	19	65	2
Profit After Adjustments	59	84	119	176	215	85	66	40	76	12
Adjusted Earnings Per Share	16.8	24	34	50.3	61.5	24.2	18.8	11.6	21.7	3.5

Dhunseri Ventures Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	2255	4158	4172	2941	1180	970	762	70	182	264	232	280
Other Income	60	44	39	18	17	11	44	42	55	67	77	75
Total Income	2315	4202	4212	2959	1197	981	806	112	237	331	309	355
Total Expenditure	2128	3971	4169	2926	1117	943	737	81	71	201	233	231
Operating Profit	187	231	43	32	80	38	69	30	166	130	76	123
Interest	33	70	100	133	101	2	23	7	5	5	6	12
Depreciation	33	53	74	97	71	2	4	28	26	23	22	25
Exceptional Income / Expenses	0	0	0	18	564	0	-27	0	0	0	0	0
Profit Before Tax	121	108	-132	-180	472	78	14	-4	279	450	718	87
Provision for Tax	17	30	29	12	-36	26	-3	-14	45	90	176	49
Profit After Tax	104	78	-161	-192	508	52	17	10	233	360	542	40
Adjustments	-4	1	59	0	91	1	16	-65	-1	-1	1	156
Profit After Adjustments	101	79	-101	-192	599	52	33	-55	232	359	542	194
Adjusted Earnings Per Share	26	22.7	-28.9	-54.9	171	14.9	9.4	-15.6	66.3	102.5	154.9	55.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-12%	49%	-25%	-20%
Operating Profit CAGR	-42%	36%	15%	-9%
PAT CAGR	51%	278%	60%	18%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	30%	34%	28%	10%
ROE Average	23%	20%	12%	8%
ROCE Average	28%	24%	15%	11%

Dhunseri Ventures Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	776	834	460	494	1100	1193	1362	1233	1604	2062	2637
Minority's Interest	73	97	35	-35	0	2	2	-0	1	2	4
Borrowings	851	1008	1033	890	0	2	56	49	43	52	309
Other Non-Current Liabilities	93	111	102	170	97	119	160	155	211	273	506
Total Current Liabilities	1517	2111	1844	1800	56	340	102	109	64	70	73
Total Liabilities	3310	4161	3474	3319	1253	1656	1681	1546	1923	2459	3529
Fixed Assets	1013	1012	1641	1837	3	17	22	42	58	63	65
Other Non-Current Assets	738	1045	108	115	1095	910	1164	1212	1507	1956	2910
Total Current Assets	1559	2105	1726	1367	155	729	494	292	358	440	554
Total Assets	3310	4161	3474	3319	1253	1656	1681	1546	1923	2459	3529

Dhunseri Ventures Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	270	88	63	210	70	11	58	18	22	32	27
Cash Flow from Operating Activities	-659	69	354	-21	354	-342	96	101	30	-26	143
Cash Flow from Investing Activities	-513	-339	-114	-70	-241	286	-51	-57	35	13	-301
Cash Flow from Financing Activities	985	239	-85	-51	-141	104	-85	-40	-56	7	194
Net Cash Inflow / Outflow	-187	-31	156	-142	-28	49	-40	4	10	-5	35
Closing Cash & Cash Equivalent	88	63	211	70	10	59	18	22	32	27	61

Dhunseri Ventures Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	26.04	22.68	-28.9	-54.93	171.05	14.95	9.4	-15.63	66.31	102.53	154.88
CEPS(Rs)	39.17	37.36	-24.74	-27.3	165.21	15.3	6.05	10.76	73.94	109.22	161
DPS(Rs)	4.5	4.5	4	4	2	3.5	4	0.5	2.5	4	5
Book NAV/Share(Rs)	221.62	238.19	131.31	141.16	314.1	340.75	388.93	352.05	458.01	588.75	752.98
Core EBITDA Margin(%)	5.27	4.28	0.08	0.45	4.99	2.75	3.27	-16.51	60.83	23.81	-0.31
EBIT Margin(%)	6.38	4.08	-0.72	-1.49	45.17	8.16	4.84	3.76	155.87	172.66	311.98
Pre Tax Margin(%)	5.01	2.47	-3.01	-5.73	37.2	8	1.82	-5.87	153.22	170.6	309.51
PAT Margin (%)	4.32	1.79	-3.67	-6.12	40.05	5.31	2.2	14.55	128.4	136.34	233.66
Cash Profit Margin (%)	5.68	3	-1.98	-3.04	45.62	5.52	2.78	53.94	142.43	144.95	243.16
ROA(%)	3.74	2.09	-4.21	-5.66	22.22	3.54	1.01	0.63	13.46	16.43	18.1
ROE(%)	14.14	9.69	-24.84	-40.32	63.72	4.49	1.31	0.78	16.46	19.63	23.06
ROCE(%)	7.02	5.95	-1.06	-1.67	28.81	6.57	2.69	0.19	19.18	23.93	28.22
Receivable days	59.27	42.24	28.73	25.82	0	45.05	28.67	0.45	0.19	0.15	0.21
Inventory Days	53.28	56.77	65.52	56.66	0	26.73	17.1	1.74	0.85	0.74	0.88
Payable days	69.85	50.81	55.14	44.96	33.46	33.33	45.79	205.05	82.08	10.53	11.66
PER(x)	3.38	5	0	0	0.44	8.65	9.87	0	1.49	2.23	1.41
Price/Book(x)	0.4	0.48	0.35	0.53	0.24	0.38	0.24	0.13	0.22	0.39	0.29
Dividend Yield(%)	5.11	3.97	8.58	5.32	2.63	2.71	4.31	1.06	2.54	1.75	2.29
EV/Net Sales(x)	0.93	0.59	0.48	0.77	0.22	0.53	0.49	2.93	1.98	3.17	3.57
EV/Core EBITDA(x)	11.19	10.59	46.55	70.51	3.19	13.54	5.47	6.8	2.17	6.44	10.91
Net Sales Growth(%)	13.68	84.39	0.34	-29.52	-59.86	-17.84	-21.4	-90.83	160.22	45.15	-12.13
EBIT Growth(%)	106.71	15.65	-117.62	-49.49	1321.01	-86.19	3.51	-92.88	0	225.39	58.78
PAT Growth(%)	339.23	-25.23	-305.93	-19.73	364.04	-89.86	109.41	-39.4	2196.17	299.43	50.6
EPS Growth(%)	192.84	-12.9	-227.43	-90.04	411.4	-91.26	-37.13	-266.26	524.4	54.61	51.06
Debt/Equity(x)	2.6	2.83	4.97	4.82	0	0.1	0.05	0.05	0.03	0.04	0.13
Current Ratio(x)	1.03	1	0.94	0.76	2.75	2.14	4.86	2.68	5.63	6.3	7.61
Quick Ratio(x)	0.71	0.58	0.56	0.6	2.75	1.94	4.86	2.68	5.62	6.29	7.6
Interest Cover(x)	4.64	2.54	-0.31	-0.35	5.67	50.9	1.61	0.39	58.83	83.94	126.08
Total Debt/Mcap(x)	6.53	5.94	13.99	9.05	0	0.26	0.21	0.4	0.15	0.11	0.44

Dhunseri Ventures Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	75	75	75	75	75	75	75	75	75	75
FII	0.72	0.69	0.62	0.52	0.52	0.51	0.51	0.55	0.55	0.61
DII	2.1	2.1	2.1	2.1	2.1	2.1	2.1	2.09	1.74	1.74
Public	22.18	22.22	22.28	22.38	22.38	22.39	22.39	22.36	22.71	22.65
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	2.63	2.63	2.63	2.63	2.63	2.63	2.63	2.63	2.63	2.63
FII	0.03	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
DII	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.06	0.06
Public	0.78	0.78	0.78	0.78	0.78	0.78	0.78	0.78	0.8	0.79
Others	0	0	0	0	0	0	0	0	0	0
Total	3.5	3.5	3.5	3.5	3.5	3.5	3.5	3.5	3.5	3.5

Pros

Stock is trading at 0.4 times its book value
Company has delivered good profit growth of 59% CAGR over last 5 years
Company is almost debt free.

Cons

Debtor days have increased from 10.53 to 11.66days.
Earnings include an other income of Rs. 77 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.