Kanoria Chem. & Inds

₹115 -1.1 | 0.9%

WEBSITE BSE:506525 NSE : KANORIA CHEM 10 May, 16:01

Market Cap ₹502 Cr.

Stock P/E -16.4

P/B 0.8

Current Price ₹115

Book Value ₹ 137.3

Face Value 5

52W High ₹156.3

Dividend Yield 0%

52W Low ₹ 100.3

Edit Ratio

Kanoria Chem. & Inds Research see more...

Overview Inc. Year: 1960Industry: Chemicals

Kanoria Chemicals and Industries Ltd is a holding business enterprise, which is engaged in the production of chemical intermediates in India. The Company additionally has commercial enterprise interests in automotive and commercial electronics, textiles and generation of renewable energy. The Company's commercial enterprise segments encompass Alco Chemicals, Solar Power, Textile, Electronic Automotive and Others. Its Alco Chemicals business section includes merchandise, inclusive of Pentaerythritol, Sodium Formate, Acetaldehyde, Formaldehyde and Hexamine, amongst others. Its Solar Power business section includes power generation from solar energy. The Textile commercial enterprise section includes yarn and denim manufacturing, and the Electronic Automotive enterprise segment consists of digital and mechatronic modules. Its Others section includes monetary activities and others. It has approximately 2 chemical compounds manufacturing facilities, one at Ankleshwar in Gujarat, and the second at Visakhapatnam in Andhra Pradesh.

Kanoria Chem. & Inds Share Price

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Peer Comparison

Kanoria Chem. & Inds 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	339	324	378	386	362	385	445	402	371	342
Other Income	-0	8	13	7	-0	3	-0	15	-1	8
Total Income	339	331	391	394	362	389	445	417	371	351
Total Expenditure	322	317	352	360	356	369	422	391	365	339
Operating Profit	17	14	39	34	6	20	23	26	5	11
Interest	6	7	8	7	8	10	11	11	12	9
Depreciation	14	14	14	14	14	15	15	16	15	16
Exceptional Income / Expenses	0	0	0	0	0	0	0	-3	0	0
Profit Before Tax	-4	-7	17	12	-17	-5	-3	-3	-21	-14
Provision for Tax	5	7	-3	4	-0	-1	-2	1	-1	2
Profit After Tax	-9	-14	20	9	-17	-4	-1	-4	-21	-15
Adjustments	3	4	-2	-0	2	3	-1	1	2	7
Profit After Adjustments	-6	-11	18	8	-14	-1	-2	-3	-18	-8
Adjusted Earnings Per Share	-1.3	-2.5	4.2	1.9	-3.3	-0.3	-0.3	-0.6	-4.2	-1.9

Kanoria Chem. & Inds 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	371	541	531	565	702	837	1072	1005	1095	1369	1578	1560
Other Income	24	43	28	20	26	45	13	24	16	29	15	22
Total Income	396	584	559	586	728	882	1084	1029	1111	1398	1593	1584
Total Expenditure	357	501	506	539	676	802	1008	979	1005	1301	1511	1517
Operating Profit	39	84	53	47	52	80	76	50	106	97	83	65
Interest	8	17	9	14	20	24	36	37	32	27	36	43
Depreciation	19	24	30	34	45	47	49	56	58	57	59	62
Exceptional Income / Expenses	0	0	-1	0	-18	0	-5	0	-4	0	0	-3
Profit Before Tax	12	43	13	-1	-32	10	-15	-43	11	13	-12	-41
Provision for Tax	3	8	1	6	-8	-2	5	-11	-5	11	1	0
Profit After Tax	8	34	12	-7	-24	12	-19	-32	16	2	-13	-41
Adjustments	-0	-0	0	0	9	2	5	6	-1	5	4	9
Profit After Adjustments	8	34	12	-7	-15	14	-15	-26	15	7	-9	-31
Adjusted Earnings Per Share	1.8	7.7	2.8	-1.6	-3.4	3.2	-3.4	-5.9	3.3	1.6	-2	-7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	15%	16%	14%	16%
Operating Profit CAGR	-14%	18%	1%	8%
PAT CAGR	-750%	0%	NAN%	NAN%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-2%	-3%	14%	14%
ROE Average	-2%	0%	-2%	0%
ROCE Average	2%	3%	2%	3%

Kanoria Chem. & Inds 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	469	496	494	603	580	588	598	569	587	599	605
Minority's Interest	2	2	16	18	9	6	16	12	8	3	2
Borrowings	86	86	183	266	266	260	258	338	345	343	320
Other Non-Current Liabilities	25	48	47	78	64	59	62	51	46	49	46
Total Current Liabilities	139	177	242	259	291	365	466	404	375	409	509
Total Liabilities	720	810	982	1225	1209	1278	1401	1374	1362	1403	1481
Fixed Assets	293	327	344	512	743	800	850	894	864	863	882
Other Non-Current Assets	235	206	346	381	129	82	95	45	39	33	27
Total Current Assets	192	276	292	331	338	395	456	434	459	504	569
Total Assets	720	810	982	1225	1209	1278	1401	1374	1362	1403	1481

Kanoria Chem. & Inds 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	17	9	6	33	18	16	11	19	36	32	19
Cash Flow from Operating Activities	-12	20	13	12	30	27	22	31	82	83	26
Cash Flow from Investing Activities	61	12	-156	-109	7	-21	-86	-3	-12	-43	-25
Cash Flow from Financing Activities	-58	-35	169	82	-39	-11	73	-11	-75	-53	-1
Net Cash Inflow / Outflow	-9	-3	27	-15	-2	-5	8	17	-4	-13	-0
Closing Cash & Cash Equivalent	12	6	33	18	16	11	19	36	32	19	19

Kanoria Chem. & Inds 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)	1.81	7.71	2.82	-1.65	-3.38	3.22	-3.42	-5.9	3.32	1.56	-2.01
CEPS(Rs)	6.27	13.36	9.67	6.21	4.98	13.32	6.86	5.61	16.94	13.6	10.54
DPS(Rs)	1.5	1.5	1.5	1.5	1.5	1.5	0.75	0	0	1	0
Book NAV/Share(Rs)	107.27	113.49	112.98	137.97	132.75	134.56	136.97	130.11	134.4	137.09	138.56
Core EBITDA Margin(%)	3.64	7.05	4.36	4.43	3.59	4.1	5.92	2.58	8.17	4.98	4.3
EBIT Margin(%)	4.95	10.28	3.87	2.1	-1.56	3.96	1.96	-0.61	4	2.91	1.51
Pre Tax Margin(%)	2.9	7.37	2.34	-0.23	-4.32	1.14	-1.4	-4.26	1.04	0.96	-0.77
PAT Margin (%)	2.05	5.91	2.18	-1.2	-3.23	1.37	-1.82	-3.14	1.46	0.16	-0.82
Cash Profit Margin (%)	6.86	10.09	7.48	4.54	2.97	6.89	2.8	2.44	6.76	4.34	2.92
ROA(%)	1.15	4.46	1.37	-0.65	-1.95	0.93	-1.46	-2.27	1.17	0.16	-0.89
ROE(%)	1.66	7.08	2.49	-1.31	-4.01	1.98	-3.29	-5.41	2.77	0.38	-2.14
ROCE(%)	3.08	9.16	2.94	1.35	-1.13	3.3	1.97	-0.55	4	3.71	2.18
Receivable days	40.34	46.06	52.19	49.58	50.27	54.45	48.25	52.61	57.86	50.18	42.66
Inventory Days	29.72	44.34	55.26	47.68	45.6	52.77	56.48	67.51	58.01	56.06	61.45
Payable days	36.35	53.95	72.27	59.15	59.86	71.53	69.54	82.22	78.42	69.37	71.98
PER(x)	16.86	3.82	14.55	0	0	20.43	0	0	27.42	87.12	0
Price/Book(x)	0.28	0.26	0.36	0.39	0.52	0.49	0.46	0.18	0.68	0.99	0.77
Dividend Yield(%)	4.93	5.09	3.66	2.8	2.16	2.28	1.2	0	0	0.73	0
EV/Net Sales(x)	0.79	0.52	0.9	1.08	0.95	0.81	0.69	0.59	0.78	0.76	0.6
EV/Core EBITDA(x)	7.51	3.38	8.98	12.97	12.74	8.5	9.69	11.96	8.08	10.74	11.49
Net Sales Growth(%)	27.82	45.76	-1.93	6.44	24.22	19.19	28.08	-6.25	8.97	25.05	15.29
EBIT Growth(%)	-94.85	200.66	-63.3	-42.47	-191.42	391.38	-37.07	-129.05	815.97	-8.98	-40.33
PAT Growth(%)	-97.32	316.54	-63.94	-158.41	-229.4	148.82	-268.53	-61.83	150.68	-86.03	-676.94
EPS Growth(%)	-96.67	327.06	-63.47	-158.41	-105.41	195.08	-206.24	-72.8	156.31	-53	-228.42
Debt/Equity(x)	0.37	0.33	0.67	0.71	0.72	0.75	0.85	0.95	0.83	0.79	0.84
Current Ratio(x)	1.38	1.56	1.2	1.28	1.16	1.08	0.98	1.07	1.22	1.23	1.12
Quick Ratio(x)	1.05	1.02	0.89	0.97	0.81	0.7	0.57	0.62	0.78	0.61	0.57
Interest Cover(x)	2.41	3.53	2.53	0.9	-0.57	1.4	0.58	-0.17	1.35	1.49	0.66
Total Debt/Mcap(x)	1.29	1.25	1.85	1.83	1.37	1.53	1.87	5.14	1.23	0.79	1.09

Kanoria Chem. & Inds Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	74.43	74.43	74.43	74.43	74.4	74.4	74.4	74.4	74.4	74.4
FII	0.16	0.17	0.14	0.08	0.07	0.07	0.07	0	0.03	0.1
DII	0.07	0.07	0.07	0.11	0.11	0.11	0.11	0.11	0.13	0.11
Public	25.34	25.33	25.36	25.38	25.42	25.42	25.42	25.49	25.44	25.39
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	3.25	3.25	3.25	3.25	3.25	3.25	3.25	3.25	3.25	3.25
FII	0.01	0.01	0.01	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0.01	0
Public	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11	1.11
Others	0	0	0	0	0	0	0	0	0	0
Total	4.37	4.37	4.37	4.37	4.37	4.37	4.37	4.37	4.37	4.37

Pros

Stock is trading at 0.8 times its book value
Company has reduced debt.

Cons

Company has a low return on equity of 0% over the last 3 years.
Debtor days have increased from 69.37 to 71.98days.

* 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.