Primo Chemicals

₹41.6 1.5 | 3.6%

WEBSITE BSE:506852 NSE : PRIMO 10 May, 16:01

Market Cap ₹1009 Cr.

Stock P/E -68.1

P/B 3

Current Price ₹41.6

Book Value ₹ 13.9

Face Value 2

52W High ₹75

Dividend Yield 0%

52W Low ₹ 34

Edit Ratio

Primo Chemicals Research see more...

Overview Inc. Year: 1975Industry: Chemicals

Punjab Alkalies & Chemicals Ltd is in chemical compounds business. The Company's merchandise include Caustic Soda Lye, Liquid Chlorine, Hydrochloric Acid, Sodium Hypochlorite and Hydrogen Gas. The Company's caustic soda merchandise are used in paper and paper pulp, soap and detergents, textile and dye stuff enterprise, aluminium industry, linear alkyl benzene (LAB), and viscose and rayon. Its chlorine products are used in water treatment plants, paper manufacturing and solid bleaching powder. Its hydrochloric acid merchandise are used in water demineralization in power and fertilizer plants, metallic pickling and practise of diverse metal chloride. Its sodium hypochlorite merchandise are utilized in fabric bleaching, laundry trade and dis-infection of drinking water. Its hydrogen merchandise are used in hydrogenation of vegetable oils, optical fiber units, as a coolant in power plant and as a fuel. The Company's plant is positioned at Naya Nangal in District Ropar, Punjab, India.

Primo Chemicals Share Price

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Peer Comparison

Primo Chemicals 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	87	131	161	186	186	188	148	110	93	91
Other Income	2	5	5	5	9	5	7	5	5	4
Total Income	89	136	166	191	195	192	155	115	98	95
Total Expenditure	127	74	107	121	133	141	119	103	98	89
Operating Profit	-37	62	59	70	61	51	36	13	0	6
Interest	2	3	2	2	1	2	3	3	4	5
Depreciation	4	4	5	4	4	7	8	9	9	10
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	-43	54	53	64	56	42	25	1	-13	-9
Provision for Tax	-6	11	11	17	15	12	8	4	1	7
Profit After Tax	-37	43	42	47	41	29	17	-4	-14	-15
Adjustments	-0	-0	2	1	1	1	0	-1	1	0
Profit After Adjustments	-37	43	45	48	42	30	18	-4	-13	-15
Adjusted Earnings Per Share	-1.5	1.8	1.8	2	1.7	1.2	0.7	-0.2	-0.5	-0.6

Primo Chemicals Profit & Loss

#(Fig in Cr.)	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	226	454	707	442
Other Income	55	15	26	21
Total Income	281	469	734	463
Total Expenditure	239	367	515	409
Operating Profit	43	102	219	55
Interest	5	9	8	15
Depreciation	17	17	24	36
Exceptional Income / Expenses	0	0	0	0
Profit Before Tax	20	76	186	4
Provision for Tax	12	19	53	20
Profit After Tax	8	57	134	-16
Adjustments	0	2	3	0
Profit After Adjustments	8	59	137	-14
Adjusted Earnings Per Share	0.5	2.4	5.7	-0.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	56%	0%	0%	0%
Operating Profit CAGR	115%	0%	0%	0%
PAT CAGR	135%	0%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-41%	23%	22%	28%
ROE Average	44%	40%	40%	40%
ROCE Average	48%	40%	40%	40%

Primo Chemicals Balance Sheet

#(Fig in Cr.)	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	97	276	412
Minority's Interest	0	0	0
Borrowings	0	53	123
Other Non-Current Liabilities	19	18	27
Total Current Liabilities	130	141	197
Total Liabilities	246	488	760
Fixed Assets	156	155	278
Other Non-Current Assets	47	221	304
Total Current Assets	40	109	169
Total Assets	246	488	760

Primo Chemicals Cash Flow

#(Fig in Cr.)	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	12	8	24
Cash Flow from Operating Activities	53	70	150
Cash Flow from Investing Activities	-24	-191	-233
Cash Flow from Financing Activities	-34	137	81
Net Cash Inflow / Outflow	-5	16	-3
Closing Cash & Cash Equivalent	8	24	21

Primo Chemicals Ratios

#	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0.53	2.44	5.67
CEPS(Rs)	1.65	3.06	6.52
DPS(Rs)	0	0	0
Book NAV/Share(Rs)	3.76	9.8	15.22
Core EBITDA Margin(%)	-5.46	19.09	27.19
EBIT Margin(%)	11.23	18.58	27.51
Pre Tax Margin(%)	8.87	16.64	26.36
PAT Margin (%)	3.64	12.49	18.94
Cash Profit Margin (%)	11.29	16.34	22.33
ROA(%)	3.81	15.46	21.47
ROE(%)	36.96	38.35	44.2
ROCE(%)	23.56	47.22	47.96
Receivable days	28.11	19.61	21.72
Inventory Days	10.66	9.37	9.05
Payable days	156.96	176.19	146.47
PER(x)	33.67	35.28	14.27
Price/Book(x)	4.75	8.8	5.32
Dividend Yield(%)	0	0	0
EV/Net Sales(x)	1.19	4.68	2.93
EV/Core EBITDA(x)	6.32	20.87	9.49
Net Sales Growth(%)	26.57	100.61	55.79
EBIT Growth(%)	1717.85	231.93	130.66
PAT Growth(%)	129.95	588.64	136.21
EPS Growth(%)	119.73	360.83	132.04
Debt/Equity(x)	0.01	0.26	0.39
Current Ratio(x)	0.31	0.77	0.86
Quick Ratio(x)	0.26	0.65	0.77
Interest Cover(x)	4.76	9.56	24.11
Total Debt/Mcap(x)	0	0.03	0.07

Primo Chemicals Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	31.35	31.35	31.35	31.35	31.35	31.35	31.35	31.35	31.35	31.35
FII	0	0	0	0	0	0	0	2.1	1.77	0.72
DII	0.05	0.31	0.05	0.05	1.93	1.93	1.93	1.93	1.93	1.93
Public	68.6	68.34	68.6	68.6	66.72	66.72	66.72	64.62	64.95	65.99
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	1.52	7.6	7.6	7.6	7.6	7.6	7.6	7.6	7.6	7.6
FII	0	0	0	0	0	0	0	0.51	0.43	0.18
DII	0	0.07	0.01	0.01	0.47	0.47	0.47	0.47	0.47	0.47
Public	3.32	16.56	16.62	16.62	16.17	16.17	16.17	15.66	15.74	15.99
Others	0	0	0	0	0	0	0	0	0	0
Total	4.85	24.23	24.23	24.23	24.23	24.23	24.23	24.23	24.23	24.23

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 40%
Debtor days have improved from 176.19 to 146.47days.
Company is almost debt free.

Cons

Promoter holding is low: 31.35%.

* 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.