IG Petrochem.

₹504 3.8 | 0.8%

WEBSITE BSE:500199 NSE : I.G.PETRO 10 May, 16:01

Market Cap ₹1552 Cr.

Stock P/E 22.6

P/B 1.3

Current Price ₹504

Book Value ₹ 400.7

Face Value 10

52W High ₹588.6

Dividend Yield 1.98%

52W Low ₹ 406.7

Edit Ratio

IG Petrochem. Research see more...

Overview Inc. Year: 1988Industry: Chemicals

I G Petrochemicals Ltd is engaged inside the manufacture of Phthalic Anhydride (PAN). The Company is engaged in the manufacture and sale of organic chemical substances. PAN is utilized in industries, consisting of flexible poly vinyl chloride (PVC), plastics, paints, construction, transportation and marine. PAN is used within the manufacturing of plasticizers, polyester resins and other makes use of within the production of alkyd resins. It is by and large used within the manufacture of various consumer care, personal care and domestic care merchandise, including shoes, wires and cables, pipes and hoses, bins, containers, packaging films, medical and surgical device, amongst others. The unsaturated polyester resins are used as thermostat for manufacture of fiber glass reinforced plastics for vehicle, construction, marine and transportation industries. The Company's PAN manufacturing units are located at Tajola in Raigad district of Maharashtra, India. The Company has production potential of over 169,250 metric tons per annum (MTPA).

IG Petrochem. Share Price

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Price

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Peer Comparison

IG Petrochem. 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	471	507	517	660	569	518	605	555	502	488
Other Income	2	2	2	4	6	6	6	7	7	7
Total Income	473	509	519	664	575	525	611	563	509	495
Total Expenditure	374	395	404	540	484	469	541	496	476	494
Operating Profit	100	114	115	124	91	55	69	67	33	1
Interest	2	3	4	4	5	9	7	6	7	8
Depreciation	11	11	12	12	12	12	12	12	13	13
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	87	100	100	108	75	34	51	48	14	-20
Provision for Tax	22	26	26	27	19	9	13	13	4	-5
Profit After Tax	65	74	74	81	55	25	38	36	10	-15
Adjustments	0	0	0	0	0	-0	0	0	-0	0
Profit After Adjustments	65	74	74	81	55	25	38	36	10	-15
Adjusted Earnings Per Share	21.1	24.1	23.9	26.3	18	8.3	12.4	11.6	3.3	-4.9

IG Petrochem. Profit & Loss

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	953	1037	1144	1304	1059	1124	1883	2352	2150
Other Income	4	8	4	11	6	6	11	22	27
Total Income	956	1046	1148	1315	1065	1129	1894	2374	2178
Total Expenditure	840	874	877	1081	987	827	1480	2035	2007
Operating Profit	117	171	271	234	78	302	414	340	170
Interest	23	18	15	12	16	15	13	24	28
Depreciation	18	21	26	26	30	34	44	47	50
Exceptional Income / Expenses	0	0	0	-8	-0	-1	0	0	0
Profit Before Tax	77	132	230	187	32	253	356	268	93
Provision for Tax	16	30	84	70	11	65	92	68	25
Profit After Tax	60	102	146	117	21	188	265	200	69
Adjustments	0	0	0	0	0	0	0	0	0
Profit After Adjustments	60	102	146	117	21	188	265	200	69
Adjusted Earnings Per Share	19.5	33	47.4	37.9	6.8	61.1	85.9	65	22.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	25%	30%	16%	0%
Operating Profit CAGR	-18%	63%	5%	0%
PAT CAGR	-25%	112%	6%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	4%	3%	16%	35%
ROE Average	17%	24%	19%	22%
ROCE Average	22%	28%	23%	28%

IG Petrochem. Balance Sheet

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	292	392	528	629	633	822	1062	1235
Minority's Interest	0	0	0	0	0	0	0	0
Borrowings	92	60	29	101	147	90	114	169
Other Non-Current Liabilities	2	4	77	82	87	83	82	94
Total Current Liabilities	193	203	225	334	294	329	392	494
Total Liabilities	578	658	860	1146	1161	1324	1651	1992
Fixed Assets	322	324	403	389	471	701	736	717
Other Non-Current Assets	26	44	142	312	364	181	204	464
Total Current Assets	230	290	315	445	326	442	712	811
Total Assets	578	658	860	1146	1161	1324	1651	1992

IG Petrochem. Cash Flow

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	18	1	3	5	-14	1	32	16
Cash Flow from Operating Activities	69	94	201	139	84	183	109	233
Cash Flow from Investing Activities	-6	-42	-164	-216	-104	-72	-106	-255
Cash Flow from Financing Activities	-64	-50	-35	58	35	-80	-19	21
Net Cash Inflow / Outflow	-1	2	2	-19	15	30	-15	-2
Closing Cash & Cash Equivalent	17	3	5	-14	1	32	16	14

IG Petrochem. Ratios

#	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	19.54	32.98	47.42	37.94	6.78	61.08	85.89	64.95
CEPS(Rs)	25.24	39.84	55.76	46.54	16.49	72.16	100.29	80.35
DPS(Rs)	2	3	4	4	2	7.5	10	10
Book NAV/Share(Rs)	94.69	127.15	171.38	204.28	205.46	266.93	344.9	401.01
Core EBITDA Margin(%)	10.91	14.36	22.83	17.05	6.77	26.38	21.37	13.51
EBIT Margin(%)	9.57	13.22	20.95	15.25	4.52	23.78	19.61	12.42
Pre Tax Margin(%)	7.38	11.61	19.67	14.32	3.01	22.49	18.92	11.41
PAT Margin (%)	5.8	8.94	12.47	8.96	1.97	16.74	14.05	8.5
Cash Profit Margin (%)	7.5	10.8	14.67	10.99	4.8	19.78	16.4	10.52
ROA(%)	10.4	16.43	19.24	11.65	1.81	15.14	17.78	10.98
ROE(%)	20.64	29.73	31.77	20.2	3.31	25.86	28.08	17.42
ROCE(%)	24.34	34.07	45.07	27.67	5.68	28.91	33.25	21.5
Receivable days	38.3	41.55	44.97	45.02	56.23	55.56	52.88	52.08
Inventory Days	31.52	29.92	29.77	31.33	38.71	38.81	28.69	24.6
Payable days	76.69	78.95	80.42	75.94	95.94	117.81	75.95	68.2
PER(x)	5.27	11.38	13.53	7.87	13.66	6.78	8.16	6.33
Price/Book(x)	1.09	2.95	3.74	1.46	0.45	1.55	2.03	1.03
Dividend Yield(%)	1.94	0.8	0.62	1.34	2.16	1.81	1.43	2.43
EV/Net Sales(x)	0.44	1.16	1.78	0.83	0.44	1.22	1.17	0.56
EV/Core EBITDA(x)	3.57	7.05	7.53	4.61	5.97	4.52	5.33	3.89
Net Sales Growth(%)	0	8.88	10.28	13.94	-18.8	6.14	67.56	24.94
EBIT Growth(%)	0	51.33	63.36	-18.94	-75.92	458.07	38.16	-20.85
PAT Growth(%)	0	68.75	43.78	-19.98	-82.14	800.99	40.61	-24.38
EPS Growth(%)	0	68.75	43.78	-19.98	-82.13	800.99	40.61	-24.38
Debt/Equity(x)	0.4	0.21	0.16	0.31	0.36	0.2	0.16	0.2
Current Ratio(x)	1.19	1.43	1.4	1.33	1.11	1.34	1.81	1.64
Quick Ratio(x)	0.73	0.95	1.02	0.96	0.78	0.91	1.43	1.31
Interest Cover(x)	4.38	8.23	16.42	16.37	3	18.36	28.66	12.22
Total Debt/Mcap(x)	0.37	0.07	0.04	0.21	0.81	0.13	0.08	0.2

IG Petrochem. Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	68.74	68.74	68.74	68.74	68.74	68.74	68.74	68.74	68.74	68.74
FII	3.02	3.22	3.44	3.45	3.55	3.7	3.8	3.73	3.42	3.01
DII	1.86	1.86	1.97	2.06	2.03	1.95	1.69	1.8	1.79	1.79
Public	26.38	26.18	25.86	25.76	25.68	25.61	25.78	25.74	26.06	26.47
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	2.12	2.12	2.12	2.12	2.12	2.12	2.12	2.12	2.12	2.12
FII	0.09	0.1	0.11	0.11	0.11	0.11	0.12	0.11	0.11	0.09
DII	0.06	0.06	0.06	0.06	0.06	0.06	0.05	0.06	0.06	0.06
Public	0.81	0.81	0.8	0.79	0.79	0.79	0.79	0.79	0.8	0.82
Others	0	0	0	0	0	0	0	0	0	0
Total	3.08	3.08	3.08	3.08	3.08	3.08	3.08	3.08	3.08	3.08

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 24%
Debtor days have improved from 75.95 to 68.2days.
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.