Ganesh Benzoplast

₹156.4 0.1 | 0%

WEBSITE BSE:500153 NSE : GANESH BENZO 10 May, 16:01

Market Cap ₹1126 Cr.

Stock P/E 16.8

P/B 2.4

Current Price ₹156.4

Book Value ₹ 64.3

Face Value 1

52W High ₹217

Dividend Yield 0%

52W Low ₹ 135

Edit Ratio

Ganesh Benzoplast Research see more...

Liquid Landscape: The Story of Ganesh Benzoplast

Overview Inc. Year: 1986Industry: Chemicals

Ganesh Benzoplast Ltd is an primarily India-based organization, that is engaged within the manufacture, export and import of various speciality chemical substances, meals preservatives and industrial lubricants. The Company also provides conditioned storage facilities for bulk drinks and chemical compounds at numerous ports in India. Its segments encompass Chemical Division and Liquid Storage Terminal (LST) Division. Its LST department presents storage tanks which might be leased on rent for storing liquid chemicals, oil merchandise, petrochemicals, molasses and suitable for eating oils, among others. The Company's Chemical Division processes a range of foods preservatives, lubricants and active pharmaceutical component (API) drugs. Its range consists of Sodium Benzoate, Food Preservatives, Lubricant Additives, Lubricant Components and API/Bulk Drugs, amongst others. The Chemical division manufactures over 70 merchandise. Its products and services encompass storage facilities and cargo handling, and production of natural and inorganic chemicals.

Ganesh Benzoplast Share Price

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Peer Comparison

Ganesh Benzoplast 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	82	102	95	92	96	99	134	122	103	106
Other Income	1	1	1	1	3	2	2	3	2	2
Total Income	83	103	96	93	99	101	136	125	104	108
Total Expenditure	71	85	79	72	76	75	111	97	77	82
Operating Profit	11	18	17	21	23	26	25	28	27	26
Interest	1	1	1	1	1	2	0	3	1	-0
Depreciation	3	3	4	4	4	4	5	5	5	5
Exceptional Income / Expenses	-1	0	-0	0	-0	0	-0	-0	0	0
Profit Before Tax	7	14	12	17	18	20	20	21	21	21
Provision for Tax	3	3	4	4	4	5	5	5	6	5
Profit After Tax	4	11	9	12	14	15	15	15	16	16
Adjustments	0	0	-0	0	0	0	0	0	-0	0
Profit After Adjustments	4	11	9	12	14	15	15	15	16	16
Adjusted Earnings Per Share	0.7	1.7	1.4	2	2.2	2.2	2.3	2.4	2.3	2.4

Ganesh Benzoplast Profit & Loss

#(Fig in Cr.)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	169	212	247	270	358	421	465
Other Income	1	1	0	1	3	9	9
Total Income	170	213	247	272	361	430	473
Total Expenditure	117	156	184	191	296	334	367
Operating Profit	53	57	64	81	64	96	106
Interest	11	10	9	7	4	4	4
Depreciation	12	12	13	15	15	17	20
Exceptional Income / Expenses	51	-3	-7	-6	-1	-0	0
Profit Before Tax	81	31	34	53	45	74	83
Provision for Tax	0	0	0	31	12	19	21
Profit After Tax	81	31	34	22	33	55	62
Adjustments	0	0	0	0	0	0	0
Profit After Adjustments	81	31	34	22	33	55	62
Adjusted Earnings Per Share	15.6	6	6.5	3.5	5.2	8.5	9.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	18%	19%	20%	0%
Operating Profit CAGR	50%	14%	13%	0%
PAT CAGR	67%	17%	-7%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	0%	31%	29%	39%
ROE Average	18%	14%	20%	34%
ROCE Average	23%	21%	22%	28%

Ganesh Benzoplast Balance Sheet

#(Fig in Cr.)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	81	112	146	232	281	357
Minority's Interest	0	0	0	4	4	5
Borrowings	65	43	43	35	11	1
Other Non-Current Liabilities	3	2	3	26	29	73
Total Current Liabilities	90	93	79	80	73	97
Total Liabilities	239	251	271	378	398	533
Fixed Assets	152	164	165	232	233	277
Other Non-Current Assets	19	20	23	27	50	106
Total Current Assets	68	68	83	118	115	151
Total Assets	239	251	271	378	398	533

Ganesh Benzoplast Cash Flow

#(Fig in Cr.)	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	0	3	3	10	12
Cash Flow from Operating Activities	39	60	27	57	86	41
Cash Flow from Investing Activities	-19	-27	-13	-40	-59	-62
Cash Flow from Financing Activities	-21	-30	-14	-9	-25	15
Net Cash Inflow / Outflow	-1	3	0	7	2	-7
Closing Cash & Cash Equivalent	0	3	3	10	12	6

Ganesh Benzoplast Ratios

#	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	15.58	6.04	6.5	3.51	5.24	8.45
CEPS(Rs)	17.9	8.43	9.01	5.91	7.59	11.1
DPS(Rs)	0	0	0	0	0	0
Book NAV/Share(Rs)	15.48	21.52	28	37.27	42.51	53.49
Core EBITDA Margin(%)	30.57	26.5	25.59	29.38	17.13	20.72
EBIT Margin(%)	54.31	19.6	17.47	22.21	13.66	18.62
Pre Tax Margin(%)	47.7	14.77	13.64	19.74	12.63	17.64
PAT Margin (%)	47.7	14.77	13.64	8.09	9.14	13.09
Cash Profit Margin (%)	54.8	20.63	18.9	13.63	13.24	17.19
ROA(%)	33.81	12.77	12.91	6.75	8.43	11.83
ROE(%)	100.66	32.64	26.25	11.6	13.14	17.95
ROCE(%)	55.1	24.06	22.37	24.08	16.44	23.09
Receivable days	69.95	54.72	48.8	51.16	38.03	25.6
Inventory Days	10.58	8.51	8.34	12.67	10.43	25.57
Payable days	342.57	237.02	196.76	232.17	125.71	98.94
PER(x)	5.27	7.91	3.59	17.74	19.51	19.21
Price/Book(x)	5.31	2.22	0.83	1.67	2.41	3.03
Dividend Yield(%)	0	0	0	0	0	0
EV/Net Sales(x)	3.02	1.46	0.73	1.52	1.71	2.47
EV/Core EBITDA(x)	9.64	5.43	2.82	5.08	9.53	10.84
Net Sales Growth(%)	0	25.11	16.55	9.62	32.21	17.72
EBIT Growth(%)	0	-54.85	3.92	39.35	-18.69	60.4
PAT Growth(%)	0	-61.25	7.64	-34.97	49.37	68.49
EPS Growth(%)	0	-61.25	7.64	-46.01	49.37	61.2
Debt/Equity(x)	1.07	0.59	0.42	0.25	0.08	0.06
Current Ratio(x)	0.76	0.73	1.05	1.47	1.57	1.56
Quick Ratio(x)	0.7	0.67	0.97	1.32	1.46	1.03
Interest Cover(x)	8.21	4.06	4.56	8.99	13.26	19.05
Total Debt/Mcap(x)	0.2	0.27	0.51	0.15	0.03	0.02

Ganesh Benzoplast Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	44.41	44.41	44.51	44.68	42.8	42.8	42.8	40.96	40.96	39.01
FII	0.21	0.21	0.64	0.67	1.02	3.37	2.92	2.94	2.97	5.2
DII	0.14	0.14	0	0	0	0	0	0.02	0	0.1
Public	55.24	55.24	54.85	54.65	56.18	53.81	54.28	56.08	56.07	55.69
Others	0	0	0	0	0	0.02	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	2.77	2.77	2.78	2.79	2.79	2.79	2.79	2.79	2.79	2.81
FII	0.01	0.01	0.04	0.04	0.07	0.22	0.19	0.2	0.2	0.37
DII	0.01	0.01	0	0	0	0	0	0	0	0.01
Public	3.44	3.44	3.42	3.41	3.66	3.51	3.54	3.82	3.82	4.01
Others	0	0	0	0	0	0	0	0	0	0
Total	6.24	6.24	6.24	6.24	6.52	6.52	6.52	6.81	6.81	7.2

Pros

Debtor days have improved from 125.71 to 98.94days.
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 39.01%.
Company has a low return on equity of 14% over the last 3 years.
The company has delivered a poor profit growth of -7% 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.