NOCIL

₹257 0.6 | 0.2%

WEBSITE BSE:500730 NSE : NOCIL LTD 10 May, 16:01

Market Cap ₹4283 Cr.

Stock P/E 35.8

P/B 2.5

Current Price ₹257

Book Value ₹ 100.8

Face Value 10

52W High ₹297.8

Dividend Yield 1.17%

52W Low ₹ 204.3

Edit Ratio

NOCIL Research see more...

Overview Inc. Year: 1961Industry: Chemicals

NOCIL Ltd is an primarily India based company, which gives primary organic chemical substances. The Company is engaged in the business of manufacturing and trading of rubber chemical compounds. The Company manufacturers PILCURE Accelerators, Post Vulcanization Stabilizer, PILFLEX Antidegradants, PILNOX Antioxidants, and PILGARD Pre Vulcanization Inhibitor are used in both domestic, in addition to worldwide markets. The Company's products include PILCURE MBT, PILCURE MBTS, PILCURE ZMBT, PILCURE F, PILCURE CBS, PILCURE NS, PILCURE MOR, PILCURE TMT, PILCURE ZDC, PILCURE ZDBC, PILCURE SDBC, PILCURE ZBZDC, PILFLEX 13, PILNOX TDQ, PILGARD PVI and PILCURE DHTS. The Company's production centres consist of Navi Mumbai Plant, that is placed in Navi Mumbai, Maharashtra, and at Dahej Plant, which is located in Dahej, Gujarat. The products manufactured by the company are utilized by the tire industry and different rubber processing industries. Its PIL Chemicals Ltd subsidiary is engaged in processing of rubber chemical merchandise.

NOCIL Share Price

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Peer Comparison

NOCIL 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	375	389	463	509	389	326	393	397	351	341
Other Income	1	0	1	0	1	2	3	5	5	6
Total Income	377	389	464	509	390	327	396	402	356	346
Total Expenditure	325	338	351	406	327	288	343	341	306	292
Operating Profit	52	51	113	104	63	40	53	60	50	55
Interest	0	0	0	0	0	0	0	0	0	1
Depreciation	11	11	16	14	14	14	14	13	13	13
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	41	40	96	90	49	25	39	47	37	41
Provision for Tax	11	10	27	23	13	7	10	13	9	11
Profit After Tax	30	30	69	66	36	19	28	34	27	30
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	30	30	69	66	36	19	28	34	27	30
Adjusted Earnings Per Share	1.8	1.8	4.1	4	2.1	1.1	1.7	2.1	1.6	1.8

NOCIL 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	488	596	719	715	742	968	1043	846	925	1571	1617	1482
Other Income	13	11	4	4	10	15	10	9	15	4	6	19
Total Income	502	607	723	719	752	982	1053	855	939	1575	1623	1500
Total Expenditure	467	534	606	576	583	702	750	668	794	1285	1364	1282
Operating Profit	34	73	117	143	169	280	303	187	146	290	259	218
Interest	4	17	17	9	2	1	1	1	1	1	1	1
Depreciation	9	19	14	15	20	24	24	34	37	48	56	53
Exceptional Income / Expenses	22	-2	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	44	35	86	119	147	255	278	152	107	241	202	164
Provision for Tax	2	11	29	41	50	85	93	22	19	65	53	43
Profit After Tax	42	24	57	78	97	170	185	131	88	176	149	119
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	42	24	57	78	97	170	185	131	88	176	149	119
Adjusted Earnings Per Share	2.6	1.5	3.6	4.9	5.9	10.3	11.2	7.9	5.3	10.6	9	7.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	3%	24%	11%	13%
Operating Profit CAGR	-11%	11%	-2%	23%
PAT CAGR	-15%	4%	-3%	13%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	11%	8%	17%	30%
ROE Average	10%	10%	12%	13%
ROCE Average	14%	13%	16%	17%

NOCIL 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	365	378	415	470	913	1047	1163	1185	1285	1445	1552
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	93	72	51	15	5	0	0	0	0	0	0
Other Non-Current Liabilities	109	52	108	143	123	120	124	116	120	126	134
Total Current Liabilities	229	231	233	130	119	164	155	141	210	259	171
Total Liabilities	796	732	806	759	1161	1331	1442	1442	1615	1831	1857
Fixed Assets	320	320	311	307	542	527	657	797	917	909	887
Other Non-Current Assets	148	73	115	138	202	131	206	220	75	78	88
Total Current Assets	328	339	380	314	417	673	580	426	623	844	881
Total Assets	796	732	806	759	1161	1331	1442	1442	1615	1831	1857

NOCIL 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	39	11	14	5	4	106	24	37	9	45	12
Cash Flow from Operating Activities	-0	44	30	170	142	102	164	179	94	-30	282
Cash Flow from Investing Activities	-79	-18	-5	-12	-10	-142	-101	-106	-62	31	-217
Cash Flow from Financing Activities	52	-23	-33	-151	-31	-43	-50	-101	0	-34	-54
Net Cash Inflow / Outflow	-28	3	-8	7	102	-82	13	-28	32	-33	11
Closing Cash & Cash Equivalent	11	14	6	13	106	24	37	9	45	12	24

NOCIL 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)	2.62	1.48	3.55	4.87	5.94	10.33	11.17	7.89	5.32	10.57	8.95
CEPS(Rs)	3.18	2.65	4.45	5.78	7.14	11.79	12.64	9.93	7.57	13.47	12.29
DPS(Rs)	0.6	0.6	1	1.2	1.8	2.5	2.5	2.5	2	3	3
Book NAV/Share(Rs)	22.7	23.48	25.81	29.23	55.66	63.42	70.05	71.22	76.96	86.48	92.8
Core EBITDA Margin(%)	3.95	9.66	14.42	17.67	19.46	26.83	28.07	21.06	14.15	18.21	15.63
EBIT Margin(%)	8.98	8.12	13.08	16.27	18.21	25.87	26.69	18.16	11.69	15.38	12.58
Pre Tax Margin(%)	8.27	5.43	10.98	15.08	17.94	25.75	26.63	18	11.59	15.31	12.5
PAT Margin (%)	7.96	3.69	7.27	9.92	11.87	17.18	17.72	15.44	9.56	11.21	9.23
Cash Profit Margin (%)	9.66	6.59	9.12	11.78	14.28	19.61	20.06	19.43	13.61	14.28	12.67
ROA(%)	6.27	3.12	7.42	10	10.12	13.64	13.33	9.06	5.78	10.22	8.09
ROE(%)	12.05	6.42	14.41	17.69	14.07	17.4	16.79	11.18	7.19	12.95	9.99
ROCE(%)	10.24	10.03	18.74	24.04	20.84	25.85	25.14	13.09	8.75	17.71	13.56
Receivable days	72.52	73.08	73.18	73.65	70.83	75.62	83.22	93.89	101.01	88.08	89.84
Inventory Days	79.27	77.95	80.84	74.14	55.14	49.78	57.04	66.23	59.62	57.89	69.73
Payable days	51.57	66.48	71.63	64.94	62.2	53.3	54.23	71	71.68	57.73	52.57
PER(x)	5.34	10.47	10.6	9.47	15.81	18.52	13.17	8.34	32.83	23.59	23.05
Price/Book(x)	0.62	0.66	1.46	1.58	1.69	3.02	2.1	0.92	2.27	2.88	2.22
Dividend Yield(%)	4.29	3.86	2.66	2.6	1.92	1.31	1.7	3.8	1.15	1.2	1.45
EV/Net Sales(x)	0.74	0.65	1.04	1.06	1.92	3.22	2.3	1.27	3.05	2.63	2.09
EV/Core EBITDA(x)	10.55	5.31	6.38	5.3	8.46	11.15	7.91	5.74	19.39	14.27	13.05
Net Sales Growth(%)	1.39	22.12	20.61	-0.53	3.78	30.37	7.78	-18.85	9.26	69.93	2.88
EBIT Growth(%)	-1.47	10.22	95.96	24.85	16.15	71.76	8.77	-44.8	-29.65	123.6	-15.9
PAT Growth(%)	21.96	-43.39	139.37	37.06	24.1	74.97	8.78	-29.31	-32.34	99.2	-15.31
EPS Growth(%)	21.96	-43.38	139.36	37.06	21.98	74.01	8.16	-29.39	-32.59	98.78	-15.34
Debt/Equity(x)	0.41	0.41	0.36	0.07	0.02	0	0	0	0	0	0
Current Ratio(x)	1.43	1.47	1.63	2.41	3.49	4.09	3.74	3.03	2.96	3.26	5.15
Quick Ratio(x)	0.92	0.77	0.83	1.39	2.53	3.15	2.64	2.06	2.17	1.97	3.49
Interest Cover(x)	12.67	3.02	6.22	13.73	67.12	209.77	441.86	116.41	111.44	221.75	169.41
Total Debt/Mcap(x)	0.66	0.62	0.25	0.04	0.01	0	0	0	0	0	0

NOCIL Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	33.86	33.85	33.85	33.84	33.84	33.84	33.84	33.84	33.84	33.84
FII	2.74	2.54	2.94	4.46	5.29	5.39	5.44	6.36	6.98	7.78
DII	4.52	4.26	4.87	5.11	4.74	5.48	4.68	3.61	2.83	3.51
Public	58.88	59.35	58.34	56.59	56.13	55.29	56.04	56.19	56.35	54.88
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	5.64	5.64	5.64	5.64	5.64	5.64	5.64	5.64	5.64	5.64
FII	0.46	0.42	0.49	0.74	0.88	0.9	0.91	1.06	1.16	1.3
DII	0.75	0.71	0.81	0.85	0.79	0.91	0.78	0.6	0.47	0.58
Public	9.8	9.89	9.72	9.43	9.35	9.21	9.34	9.36	9.39	9.15
Others	0	0	0	0	0	0	0	0	0	0
Total	16.65	16.66	16.66	16.66	16.66	16.66	16.66	16.66	16.66	16.66

Pros

Debtor days have improved from 57.73 to 52.57days.
Company is almost debt free.

Cons

Promoter holding is low: 33.84%.
Company has a low return on equity of 10% over the last 3 years.
The company has delivered a poor profit growth of -2% 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.