Indo Borax & Chem.

₹168.1 -0.2 | 0.1%

WEBSITE BSE:524342 NSE : INDOBORAXC 10 May, 16:01

Market Cap ₹539 Cr.

Stock P/E 13.4

P/B 1.9

Current Price ₹168.1

Book Value ₹ 87.4

Face Value 1

52W High ₹237

Dividend Yield 0.59%

52W Low ₹ 118

Edit Ratio

Indo Borax & Chem. Research see more...

Overview Inc. Year: 1980Industry: Chemicals

Indo Borax & Chemicals Ltd manufactures and sells boron and lithium merchandise in India. It gives borax products, which include decahydrate crystals and decahydrate granular products; boric acid products that encompass I.P. Grade boric acid products, tech grade granular merchandise, and tech grade powders; and lithium hydroxide monohydrate merchandise. The enterprise changed into incorporated in 1980 and is primarily based in Mumbai, India.

Indo Borax & Chem. Share Price

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Price

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Quarterly Price

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Peer Comparison

Indo Borax & Chem. 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	38	45	49	53	61	55	56	55	47	44
Other Income	0	1	1	1	2	2	2	3	3	3
Total Income	39	46	50	53	63	57	58	58	49	47
Total Expenditure	28	34	35	38	48	37	41	43	37	35
Operating Profit	11	12	14	16	16	20	18	15	13	12
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	1	1	1	1
Exceptional Income / Expenses	0	0	0	1	0	0	0	0	0	0
Profit Before Tax	11	12	14	17	15	19	17	14	12	11
Provision for Tax	3	4	3	4	4	6	5	4	3	3
Profit After Tax	8	8	11	13	11	14	13	10	9	8
Adjustments	-0	0	-0	-0	0	0	0	0	0	0
Profit After Adjustments	8	8	11	13	11	14	13	10	9	8
Adjusted Earnings Per Share	2.4	2.6	3.3	4	3.6	4.3	3.9	3.2	2.8	2.6

Indo Borax & Chem. 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	66	77	87	70	67	101	128	115	144	176	225	202
Other Income	2	2	3	3	3	4	6	6	4	3	7	11
Total Income	68	79	90	72	70	105	134	121	148	179	232	212
Total Expenditure	49	62	69	57	56	86	108	97	100	128	163	156
Operating Profit	19	17	22	15	13	19	26	24	48	51	69	58
Interest	1	1	1	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	2	4
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	1	0
Profit Before Tax	17	16	20	14	12	17	24	23	47	50	69	54
Provision for Tax	6	5	6	4	3	7	7	5	12	14	18	15
Profit After Tax	11	10	14	9	8	11	17	18	34	36	51	40
Adjustments	0	-0	-0	0	0	0	0	0	1	1	0	0
Profit After Adjustments	11	10	13	9	8	11	17	18	35	38	51	40
Adjusted Earnings Per Share	3.3	2.9	4.1	2.9	2.5	3.3	5.4	5.5	10.9	11.7	15.9	12.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	28%	25%	17%	13%
Operating Profit CAGR	35%	42%	29%	14%
PAT CAGR	42%	42%	36%	17%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	41%	25%	35%	31%
ROE Average	22%	21%	18%	16%
ROCE Average	30%	29%	25%	23%

Indo Borax & Chem. 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	60	67	78	87	95	105	121	138	173	207	255
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	5	4	5	2	1	0	0	0	0	0	0
Other Non-Current Liabilities	1	1	1	1	2	2	2	2	2	2	3
Total Current Liabilities	14	8	8	7	8	10	9	8	16	13	18
Total Liabilities	79	80	92	97	106	117	132	149	190	222	275
Fixed Assets	3	3	11	21	22	20	19	15	14	13	16
Other Non-Current Assets	34	30	23	42	44	42	41	54	95	87	91
Total Current Assets	42	48	58	34	40	55	72	80	81	121	168
Total Assets	79	80	92	97	106	117	132	149	190	222	275

Indo Borax & Chem. 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	0	1	4	16	4	0	5	3	41	2	36
Cash Flow from Operating Activities	1	18	0	18	21	1	15	13	16	11	60
Cash Flow from Investing Activities	-2	-11	13	-26	-24	5	-16	26	-54	26	-8
Cash Flow from Financing Activities	1	-5	-1	-4	-1	-2	-1	-1	-1	-3	-3
Net Cash Inflow / Outflow	1	3	12	-12	-4	5	-2	38	-39	34	49
Closing Cash & Cash Equivalent	1	4	16	4	0	5	3	41	2	36	85

Indo Borax & Chem. 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)	3.28	2.91	4.08	2.88	2.52	3.28	5.44	5.46	10.94	11.7	15.93
CEPS(Rs)	3.47	3.2	4.58	3.27	2.98	3.73	5.88	5.89	11.01	11.66	16.28
DPS(Rs)	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.2	1	1	1
Book NAV/Share(Rs)	17.18	19.3	24.44	27.14	29.47	32.58	37.83	43.11	53.85	64.55	79.48
Core EBITDA Margin(%)	22.55	17.62	19.39	16	13.67	14.23	15.65	16.22	30.57	27.24	27.54
EBIT Margin(%)	24.33	19.15	21.34	18.04	15.74	17.1	18.85	19.88	32.35	28.48	30.69
Pre Tax Margin(%)	23.26	18.45	20.75	17.55	15.45	16.97	18.79	19.83	32.29	28.45	30.63
PAT Margin (%)	15.4	12.33	14.1	11.88	10.8	10.26	13.6	15.2	23.77	20.7	22.52
Cash Profit Margin (%)	16.32	13.21	15.3	13.5	12.76	11.65	14.69	16.4	24.51	21.29	23.21
ROA(%)	16.44	13.03	15.76	9.77	7.98	9.48	14.02	12.46	20.23	17.67	20.4
ROE(%)	20.98	16.36	18.62	11.15	8.9	10.58	15.45	13.48	22.02	19.14	21.94
ROCE(%)	30.02	23.38	26.5	16.24	12.72	17.51	21.41	17.64	29.98	26.34	29.89
Receivable days	14.57	14.65	18.38	27.4	26.44	24.93	25.9	27.68	21.34	19.51	18.49
Inventory Days	122.5	115.49	104.96	127.22	73.55	31.33	30.85	34.86	50.81	98.48	99.67
Payable days	39.4	31.87	30.98	40.87	36.08	20.57	11.61	12.93	24.05	24	13.79
PER(x)	3.35	4.13	5.75	10.3	11.46	15.82	7.7	2.84	5.98	12.25	6.4
Price/Book(x)	0.64	0.62	0.96	1.09	0.98	1.59	1.11	0.36	1.22	2.22	1.28
Dividend Yield(%)	1.36	1.25	0.64	0.51	0.52	0.29	0.36	1.29	1.53	0.7	0.98
EV/Net Sales(x)	0.65	0.55	0.73	1.33	1.4	1.6	1.03	0.07	1.44	2.41	1.07
EV/Core EBITDA(x)	2.28	2.49	2.95	6.09	7.06	8.52	5.14	0.35	4.35	8.29	3.49
Net Sales Growth(%)	42.48	16.08	14.03	-20.39	-4.32	51.46	27.22	-10.2	25.07	21.9	28.09
EBIT Growth(%)	63.06	-10.53	27.16	-31.71	-15.88	48.93	37.81	-5.3	103.58	7.31	38.05
PAT Growth(%)	57.4	-9.01	30.51	-31.92	-12.39	30.27	65.71	0.34	95.61	6.17	39.38
EPS Growth(%)	57.39	-11.36	40.46	-29.56	-12.39	30.27	65.71	0.34	100.49	6.95	36.09
Debt/Equity(x)	0.11	0.07	0.06	0.03	0.01	0	0	0	0	0	0
Current Ratio(x)	3.01	6.28	7.24	4.79	4.92	5.47	8.18	9.46	5.18	9.48	9.56
Quick Ratio(x)	0.88	3.14	3.3	1.65	3.99	4.46	6.85	8.23	3.27	4.4	6.27
Interest Cover(x)	22.8	27.29	36.35	36.84	54.14	133.88	306.97	398.38	513.04	846.78	517.11
Total Debt/Mcap(x)	0.17	0.11	0.06	0.02	0.01	0	0	0	0	0	0

Indo Borax & Chem. Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	55.42	55.42	54.19	53.78	53.78	53	52.07	52.07	52.07	50.8
FII	0.04	0.04	0.06	0.09	0.11	0.06	0.22	0.01	0.03	0.1
DII	0	0	0	0	0	0	0	0	0	0
Public	44.54	44.54	45.76	46.13	46.11	46.94	47.71	47.92	47.9	49.1
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	1.78	1.78	1.74	1.73	1.73	1.7	1.67	1.67	1.67	1.63
FII	0	0	0	0	0	0	0.01	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	1.43	1.43	1.47	1.48	1.48	1.51	1.53	1.54	1.54	1.58
Others	0	0	0	0	0	0	0	0	0	0
Total	3.21	3.21	3.21	3.21	3.21	3.21	3.21	3.21	3.21	3.21

Pros

Company has delivered good profit growth of 35% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 21%
Debtor days have improved from 24 to 13.79days.
Company is almost debt free.

Cons

* 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.