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Punjab Chem. & Corp

₹1000 -24.7 | 2.4%

Market Cap ₹1226 Cr.

Stock P/E 22.9

P/B 3.7

Current Price ₹1000

Book Value ₹ 269.3

Face Value 10

52W High ₹1392

Dividend Yield 0.3%

52W Low ₹ 722.1

Punjab Chem. & Corp Research see more...

Overview Inc. Year: 1975Industry: Pesticides & Agrochemicals

Punjab Chemicals and Crop Protection Ltd offers chemical compounds, and bulk pills and intermediates. The Company's segments comprises Chemicals, and Bulk drugs and intermediates. The Chemicals segment consists of commercial and agro chemical substances and their intermediates, and speciality chemicals. The Bulk pills and intermediates segment includes bulk drug and intermediates. Its geographical segments are both inside and outside of India. It offers agrochemicals, consisting of herbicide, insecticide and fungicide; agro formulations, including sulfur range, fertilizer, seed inoculant and bio variety; prescribed drugs, which includes API, advanced intermediates for APIs, pharma intermediates, anti-oxidants and high-quality chemical substances, and industrial chemical compounds, inclusive of phosphorus derivatives, oxalates and intermediates. It sources and exports various products, consisting of fine and speciality chemical compounds, business chemical compounds, pharma intermediates and laboratory grade chemical substances.

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Punjab Chem. & Corp Share Price

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Punjab Chem. & Corp Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 255 259 272 279 260 195 281 242 214 197
Other Income 0 0 0 2 1 1 0 2 1 1
Total Income 255 259 272 280 261 196 282 244 215 197
Total Expenditure 218 224 237 248 226 174 244 207 188 183
Operating Profit 37 35 36 33 36 22 38 37 27 14
Interest 3 4 3 4 4 7 4 7 7 4
Depreciation 4 4 5 5 5 5 5 6 5 6
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 30 26 28 24 27 10 29 25 15 4
Provision for Tax 8 7 7 7 7 7 8 7 4 1
Profit After Tax 22 19 20 18 20 3 22 18 11 2
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 22 19 20 18 20 3 22 18 11 2
Adjusted Earnings Per Share 17.8 15.8 16.5 14.3 16.4 2.6 17.8 14.8 9.1 2

Punjab Chem. & Corp 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 245 514 565 538 525 493 643 550 678 933 1006 934
Other Income 4 18 23 16 13 11 7 13 2 1 3 4
Total Income 249 532 588 554 537 504 650 563 680 934 1010 938
Total Expenditure 242 474 518 497 510 452 577 507 583 794 884 822
Operating Profit 7 59 71 57 28 53 73 56 97 141 126 116
Interest 19 35 35 50 31 18 17 18 13 12 18 22
Depreciation 8 16 19 17 16 14 19 15 15 17 19 22
Exceptional Income / Expenses 7 -3 -2 24 0 3 -8 0 0 0 0 0
Profit Before Tax -13 4 14 14 -19 24 29 22 69 112 89 73
Provision for Tax 0 0 1 1 1 7 12 11 20 28 28 20
Profit After Tax -13 4 14 13 -20 17 17 11 49 83 61 53
Adjustments 0 -3 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -13 1 14 13 -20 17 17 11 49 83 61 53
Adjusted Earnings Per Share -10.3 0.8 11.6 10.8 -16.3 14 13.7 8.8 40 68.1 49.8 43.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 8% 22% 15% 15%
Operating Profit CAGR -11% 31% 19% 34%
PAT CAGR -27% 77% 29% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 29% -2% 8% 31%
ROE Average 24% 37% 28% 10%
ROCE Average 31% 38% 32% 22%

Punjab Chem. & Corp 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 -37 -34 -35 61 58 74 91 98 145 226 281
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 190 205 148 106 67 48 11 40 70 58 64
Other Non-Current Liabilities 6 43 41 59 7 15 33 42 38 38 41
Total Current Liabilities 323 281 328 231 296 215 247 229 228 283 313
Total Liabilities 482 496 482 457 428 353 382 409 480 605 699
Fixed Assets 258 242 232 235 198 152 161 168 189 212 222
Other Non-Current Assets 40 34 45 40 50 41 46 44 44 37 46
Total Current Assets 184 220 206 183 180 160 175 197 247 355 430
Total Assets 482 496 482 457 428 353 382 409 480 605 699

Punjab Chem. & Corp 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 44 11 28 14 -41 -44 -44 1 2 12 8
Cash Flow from Operating Activities 23 38 57 105 62 61 68 34 43 34 58
Cash Flow from Investing Activities -5 -2 10 11 -8 -15 -21 -14 -8 -27 -36
Cash Flow from Financing Activities -54 -20 -72 -141 -61 -43 -4 -19 -24 -11 -20
Net Cash Inflow / Outflow -36 16 -4 -26 -7 4 44 2 11 -4 2
Closing Cash & Cash Equivalent 11 28 14 5 -44 -44 1 2 12 8 9

Punjab Chem. & Corp 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) -10.3 0.78 11.58 10.83 -16.26 14.01 13.7 8.77 40.03 68.08 49.84
CEPS(Rs) -3.74 16.7 26.92 24.49 -3.16 25.38 28.87 21.29 52.15 81.67 65.34
DPS(Rs) 0 0 0 0 0 0 1.5 1.5 2 3 3
Book NAV/Share(Rs) -30.49 -27.51 -28.25 6.25 47.63 60.5 74.11 79.73 117.89 184.03 228.89
Core EBITDA Margin(%) 1.4 7.69 8.21 7.38 2.78 8.39 10.33 7.72 14.08 14.96 12.18
EBIT Margin(%) 2.65 7.38 8.52 11.52 2.14 8.46 7.16 7.32 12.16 13.28 10.63
Pre Tax Margin(%) -5.03 0.82 2.51 2.51 -3.58 4.89 4.47 4.02 10.18 11.96 8.83
PAT Margin (%) -5.03 0.82 2.4 2.41 -3.72 3.46 2.61 1.96 7.24 8.94 6.07
Cash Profit Margin (%) -1.83 3.88 5.72 5.45 -0.72 6.28 5.51 4.75 9.43 10.73 7.96
ROA(%) -2.51 0.88 2.83 2.83 -4.5 4.4 4.57 2.72 11.05 15.39 9.38
ROE(%) 0 0 0 0 -60.35 25.92 20.36 11.4 40.52 45.1 24.14
ROCE(%) 1.98 11.99 15.92 26.16 5.62 20.93 24.65 21.21 38.41 44.96 30.83
Receivable days 106.81 48.76 45.89 49.61 47.51 38.89 29.77 36.63 35.39 38.26 46.27
Inventory Days 103.44 49.27 48.07 43.93 41.44 48.3 42.18 55.82 50.53 49.86 58.4
Payable days 321.12 123.69 81.17 80.27 111.02 136.11 100.97 113.67 91.43 78.74 77.78
PER(x) 0 97.06 15.86 12.83 0 27.77 50.47 34.39 21.86 21.4 16.61
Price/Book(x) -1.51 -2.76 -6.5 22.25 5.86 6.43 9.33 3.78 7.42 7.92 3.62
Dividend Yield(%) 0 0 0 0 0 0 0.22 0.5 0.23 0.21 0.36
EV/Net Sales(x) 1.62 0.84 0.94 0.66 0.94 1.19 1.46 0.84 1.69 2 1.09
EV/Core EBITDA(x) 54.27 7.35 7.55 6.27 17.82 11.18 12.82 8.35 11.78 13.29 8.72
Net Sales Growth(%) -75.61 109.68 9.81 -4.76 -2.47 -6 30.35 -14.52 23.4 37.64 7.79
EBIT Growth(%) 227.83 485.14 26.23 29.05 -81.92 265.33 9.73 -12.6 105.05 50.3 -13.75
PAT Growth(%) 88.21 134.2 220.37 -4.05 -250.08 186.2 -2.21 -36.01 356.56 70.05 -26.79
EPS Growth(%) 88.21 107.6 1379.23 -6.48 -250.08 186.2 -2.21 -36.01 356.56 70.05 -26.79
Debt/Equity(x) -9.52 -10.83 -9.26 24.99 2.59 1.58 1.01 1.01 0.61 0.41 0.33
Current Ratio(x) 0.57 0.78 0.63 0.79 0.61 0.74 0.71 0.86 1.08 1.26 1.37
Quick Ratio(x) 0.37 0.51 0.4 0.54 0.39 0.43 0.38 0.49 0.64 0.71 0.84
Interest Cover(x) 0.35 1.12 1.42 1.28 0.37 2.37 2.67 2.22 6.13 10.04 5.93
Total Debt/Mcap(x) 6.3 3.92 1.42 1.12 0.44 0.24 0.11 0.27 0.08 0.05 0.09

Punjab Chem. & Corp Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 39.22 39.22 39.22 39.22 39.22 39.22 39.22 39.22 39.22 39.22
FII 3 2.99 2.99 3.05 2.99 2.99 2.97 2.98 2.98 3
DII 1.91 2.06 1.75 0.8 1.01 0.97 0.2 0.15 0.15 0.42
Public 55.88 55.73 56.04 56.94 56.78 56.82 57.62 57.65 57.66 57.37
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 29% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 37%
  • Debtor days have improved from 78.74 to 77.78days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 39.22%.
  • Stock is trading at 3.7 times its book value.

* 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.

Punjab Chem. & Corp News

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