Oriental Carbon&Chem

₹711 -6.5 | 0.9%

WEBSITE BSE:506579 NSE : ORIENT.CARB. 10 May, 16:01

Market Cap ₹710 Cr.

Stock P/E 15.9

P/B 1.1

Current Price ₹711

Book Value ₹ 629.1

Face Value 10

52W High ₹936.9

Dividend Yield 1.97%

52W Low ₹ 647.7

Edit Ratio

Oriental Carbon&Chem Research see more...

Overview Inc. Year: 1978Industry: Chemicals

Oriental Carbon & Chemicals Ltd is a holding company. The Company is engaged within the production of insoluble sulfur for the tire and rubber enterprise around the sector. The Company's segments consist of Chemicals (Including Insoluble Sulfur, Sulfuric Acid and Oleum), Automotive Products and Fluid Power & Automation. The Company manufactures each business grade and battery grade sulfuric acid and oleums. It offers sulfuric acid for use as a dehydrating agent, catalyst, active reactant in chemical processes, solvent and absorbent, and to be used in industries from dilute concentrations for capability of hydrogen (pH) control of saline solutions to strong fuming acids used inside the dye, explosives and pharmaceutical industries. The Company's production ability of insoluble sulfur is about 22,000 metric tons per annum. It has manufacturing facilities in Haryana and Gujarat. The Company's subsidiary is Schrader Duncan Ltd.

Oriental Carbon&Chem Share Price

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Peer Comparison

Oriental Carbon&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	113	110	126	153	141	120	122	125	111	104
Other Income	2	0	2	2	1	0	0	2	1	1
Total Income	115	110	128	155	142	120	123	127	112	104
Total Expenditure	88	88	107	123	116	93	94	91	88	86
Operating Profit	27	22	21	31	26	27	28	36	24	18
Interest	1	1	3	3	4	3	3	3	3	3
Depreciation	6	6	7	7	7	8	7	7	8	8
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	20	15	12	21	15	16	18	25	14	8
Provision for Tax	6	3	5	5	4	3	4	8	4	1
Profit After Tax	14	12	7	16	11	13	14	17	10	7
Adjustments	-1	-1	-1	-1	-2	-1	-1	-1	-1	-1
Profit After Adjustments	13	11	6	15	9	12	13	16	9	7
Adjusted Earnings Per Share	13.4	11.3	5.6	15	9.4	11.6	12.6	16.3	9	6.7

Oriental Carbon&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	287	331	347	311	332	369	432	387	384	444	536	462
Other Income	6	5	14	6	5	5	11	11	3	8	3	4
Total Income	293	336	360	317	336	374	443	397	387	452	539	466
Total Expenditure	231	262	278	233	244	267	309	282	257	356	426	359
Operating Profit	62	74	82	84	92	107	135	115	129	96	113	106
Interest	15	14	10	8	7	9	9	10	7	8	13	12
Depreciation	12	13	16	17	17	18	20	21	22	24	29	30
Exceptional Income / Expenses	3	3	0	0	0	0	0	-2	0	0	0	0
Profit Before Tax	38	50	55	59	69	80	106	83	100	63	70	65
Provision for Tax	10	10	10	13	21	23	29	8	17	17	17	17
Profit After Tax	28	41	45	46	48	57	77	75	83	46	54	48
Adjustments	-0	-0	3	3	3	-0	-1	-2	-4	-3	-5	-4
Profit After Adjustments	28	40	48	50	51	57	75	73	79	43	49	45
Adjusted Earnings Per Share	26.8	39.3	46.9	48.1	49.8	55.2	75.2	73.2	79.1	43.1	48.7	44.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	21%	11%	8%	6%
Operating Profit CAGR	18%	-1%	1%	6%
PAT CAGR	17%	-10%	-1%	7%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-6%	-9%	-9%	17%
ROE Average	9%	11%	14%	16%
ROCE Average	11%	12%	15%	17%

Oriental Carbon&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	175	207	244	283	337	382	409	465	533	561	602
Minority's Interest	18	18	15	11	8	8	10	11	15	18	23
Borrowings	82	66	44	21	64	69	72	96	113	94	73
Other Non-Current Liabilities	18	20	23	24	17	24	31	30	29	37	46
Total Current Liabilities	94	94	114	112	101	107	110	95	123	155	141
Total Liabilities	386	405	439	451	527	589	631	697	814	865	886
Fixed Assets	218	222	215	207	327	328	361	354	342	453	478
Other Non-Current Assets	28	36	48	88	15	57	24	68	161	124	106
Total Current Assets	140	147	177	156	185	204	247	275	310	288	301
Total Assets	386	405	439	451	527	589	631	697	814	865	886

Oriental Carbon&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	9	9	7	13	4	2	10	4	23	2	2
Cash Flow from Operating Activities	32	53	70	70	82	94	93	115	91	61	105
Cash Flow from Investing Activities	-4	-21	-31	-40	-82	-74	-49	-85	-129	-41	-54
Cash Flow from Financing Activities	-29	-34	-34	-38	-2	-12	-50	-10	16	-21	-52
Net Cash Inflow / Outflow	-0	-2	5	-9	-2	8	-6	20	-21	-0	-1
Closing Cash & Cash Equivalent	9	7	13	4	2	10	4	23	2	2	1

Oriental Carbon&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)	26.84	39.32	46.9	48.1	49.76	55.19	75.21	73.21	79.08	43.11	48.69
CEPS(Rs)	38.8	51.94	59.88	61.22	63.37	72.91	96.88	96.31	105.16	70.46	83.07
DPS(Rs)	5	7	8.5	8.5	10	10	12	10	14	14	14
Book NAV/Share(Rs)	168.75	199.88	236.56	274.43	326.83	370.53	408.98	465.07	533.72	561.45	602.93
Core EBITDA Margin(%)	18.53	19.72	18.65	23.68	25.09	27.17	28.56	27.09	32.65	19.73	20.44
EBIT Margin(%)	17.48	18.22	17.89	20.24	21.59	23.7	26.48	23.83	27.7	16.1	15.55
Pre Tax Margin(%)	12.41	14.35	15.06	17.83	19.72	21.35	24.46	21.36	26	14.23	13.12
PAT Margin (%)	9.15	11.6	12.38	14	13.83	15.22	17.71	19.33	21.5	10.38	9.99
Cash Profit Margin (%)	13.1	15.3	16.86	19.15	18.69	20.08	22.4	24.87	27.21	15.82	15.47
ROA(%)	7.22	10.24	10.72	10.34	9.87	10.2	12.54	11.26	10.98	5.5	6.12
ROE(%)	16.05	21.36	20.15	17.51	15.6	15.85	19.37	17.13	16.63	8.44	9.21
ROCE(%)	17.3	20.09	19.34	18.53	18.47	18.62	21.92	15.98	16.14	9.84	11.07
Receivable days	67.79	63.31	65.99	71.26	75.82	80.64	71.89	75.73	71.83	68.56	57.19
Inventory Days	60.49	52.33	51.27	57.59	47.86	42.7	42.64	45.43	42.28	47.42	47.19
Payable days	79.02	73.43	73.9	95.81	86.6	88.21	66.7	66.4	78.14	62.38	48.37
PER(x)	3.42	4.03	9.61	10.46	18.22	18.65	15.15	7.64	11.6	18.57	13.68
Price/Book(x)	0.54	0.79	1.9	1.83	2.77	2.78	2.79	1.2	1.72	1.43	1.1
Dividend Yield(%)	5.45	4.42	1.89	1.69	1.1	0.97	1.05	1.79	1.53	1.75	2.1
EV/Net Sales(x)	0.75	0.82	1.59	1.91	3.11	3.17	2.93	1.76	2.83	2.19	1.53
EV/Core EBITDA(x)	3.45	3.66	6.76	7.1	11.17	10.97	9.39	5.89	8.42	10.16	7.26
Net Sales Growth(%)	0	15.12	4.79	-10.26	6.58	11.25	17.12	-10.47	-0.84	15.69	20.77
EBIT Growth(%)	0	19.54	2.72	1.81	13.13	17.53	29.17	-19.44	16.02	-33.01	16.39
PAT Growth(%)	0	45.33	11.67	1.75	4.86	17.81	34.49	-2.29	11	-44.34	16.01
EPS Growth(%)	0	46.53	19.27	2.55	3.46	10.91	36.27	-2.65	8.01	-45.48	12.92
Debt/Equity(x)	0.77	0.58	0.44	0.3	0.33	0.32	0.32	0.32	0.34	0.33	0.27
Current Ratio(x)	1.48	1.56	1.56	1.39	1.83	1.91	2.24	2.89	2.52	1.86	2.13
Quick Ratio(x)	0.95	1.04	1.09	0.94	1.42	1.47	1.75	2.45	2.13	1.42	1.63
Interest Cover(x)	3.45	4.71	6.32	8.4	11.54	10.07	13.09	9.63	16.34	8.61	6.41
Total Debt/Mcap(x)	1.42	0.74	0.23	0.17	0.12	0.12	0.12	0.27	0.2	0.23	0.24

Oriental Carbon&Chem Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	51.76	51.76	51.76	51.76	51.76	51.76	51.76	51.76	51.76	51.76
FII	1.02	1.18	1.36	1.4	1.28	1.3	0.69	0.74	0.74	0.69
DII	14.58	14.58	14.23	14.14	13.77	13.14	12.84	11.75	11.75	11.73
Public	32.64	32.48	32.64	32.7	33.18	33.8	34.71	35.75	35.74	35.81
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	0.52	0.52	0.52	0.52	0.52	0.52	0.52	0.52	0.52	0.52
FII	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
DII	0.15	0.15	0.14	0.14	0.14	0.13	0.13	0.12	0.12	0.12
Public	0.33	0.32	0.33	0.33	0.33	0.34	0.35	0.36	0.36	0.36
Others	0	0	0	0	0	0	0	0	0	0
Total	1	1	1	1	1	1	1	1	1	1

Pros

Debtor days have improved from 62.38 to 48.37days.
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 11% over the last 3 years.
The company has delivered a poor profit growth of -1% 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.