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Shivalik Rasayan

₹612.9 -0.3 | 0%

Market Cap ₹954 Cr.

Stock P/E 73.5

P/B 2.8

Current Price ₹612.9

Book Value ₹ 220.9

Face Value 5

52W High ₹890.1

Dividend Yield 0.08%

52W Low ₹ 498

Shivalik Rasayan Research see more...

Overview Inc. Year: 1979Industry: Pesticides & Agrochemicals

Shivalik Rasayan Ltd is engaged in supplying agrochemicals. The Company is a producer of organ phosphorous (OP)-primarily based insecticides and chemical substances. It additionally manufactures organophosphate pesticides, including Dimethoate Technical and Malathion Technical. Its Dimethoate technical is utilized in preparation of formulations used within the manage of various insect pests and mites. It is an OP-based systemic insecticide and also possesses properties of an acaricide and a contact insecticide. It is an insecticide of moderate mammalian toxicity, that is used in opposition to piercing sucking insects, spider mites, chewing mining and dull insects on cereals and cotton, amongst others. Its Malathion Technical is a non-systemic, spectrum OP-primarily based contact insecticide. It is used in the agricultural manufacturing of a number of meals/feed crops. It controls insects, together with aphids, leafhoppers, spider mites, scale bugs, housefly and mosquitoes, in addition to a number of other sucking and chewing insects.

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Shivalik Rasayan Share Price

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Shivalik Rasayan 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 57 60 48 58 56 57 63 64 67 70
Other Income 0 1 2 1 1 1 1 0 1 2
Total Income 57 61 50 59 57 59 64 65 68 72
Total Expenditure 45 48 38 46 45 47 53 53 57 61
Operating Profit 12 13 12 13 12 11 11 12 10 10
Interest 1 1 1 1 1 1 1 1 2 2
Depreciation 3 3 3 3 3 3 3 3 3 3
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 9 10 8 9 8 7 7 8 5 6
Provision for Tax 1 1 0 1 1 1 -0 1 2 1
Profit After Tax 9 8 8 8 8 7 7 6 3 4
Adjustments -2 -2 -2 -2 -2 -2 -4 -2 -1 -1
Profit After Adjustments 6 6 7 6 6 5 3 4 2 3
Adjusted Earnings Per Share 4.4 4.3 4.5 4.4 3.8 3.3 2.3 2.9 1.2 2

Shivalik Rasayan Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 41 110 123 155 171 186 198 215 234 264
Other Income 0 1 1 3 8 3 1 4 5 4
Total Income 42 111 124 158 179 189 199 218 239 269
Total Expenditure 38 99 105 131 147 157 159 167 191 224
Operating Profit 3 12 19 27 32 32 40 51 48 43
Interest 0 5 6 4 3 2 2 3 5 6
Depreciation 0 2 2 2 3 4 9 11 12 12
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 3 5 11 20 26 27 29 37 32 26
Provision for Tax 1 2 3 5 5 5 4 3 2 4
Profit After Tax 2 3 8 15 21 22 25 34 30 20
Adjustments 0 0 -3 -6 -7 -8 -7 -9 0 -8
Profit After Adjustments 2 3 5 9 14 14 18 26 30 12
Adjusted Earnings Per Share 0 3.7 6.4 8.6 9.9 10.2 12.8 17.7 20.6 8.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 9% 8% 9% 0%
Operating Profit CAGR -6% 14% 12% 0%
PAT CAGR -12% 11% 15% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -14% -5% 18% NA%
ROE Average 10% 14% 15% 27%
ROCE Average 10% 14% 16% 25%

Shivalik Rasayan Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 11 14 11 49 165 176 179 287 360
Minority's Interest 0 1 16 45 54 73 80 77 59
Borrowings 0 11 12 7 5 3 11 8 13
Other Non-Current Liabilities 0 2 2 2 2 1 2 1 -1
Total Current Liabilities 11 52 54 49 62 75 91 113 144
Total Liabilities 23 81 94 152 288 328 363 487 575
Fixed Assets 7 27 27 40 41 52 210 221 218
Other Non-Current Assets 1 2 3 4 32 109 8 11 65
Total Current Assets 14 51 63 106 212 158 131 240 262
Total Assets 23 81 94 152 288 328 363 487 575

Shivalik Rasayan Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 0 7 3 5 26 95 9 5 71
Cash Flow from Operating Activities 4 12 8 -7 -8 6 59 11 -19
Cash Flow from Investing Activities -0 -18 -4 -24 -24 -102 -65 -23 -71
Cash Flow from Financing Activities 1 3 -3 52 100 10 2 78 50
Net Cash Inflow / Outflow 4 -3 2 21 69 -86 -4 66 -40
Closing Cash & Cash Equivalent 4 3 5 26 95 9 5 71 31

Shivalik Rasayan Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 0 3.68 6.39 8.63 9.88 10.16 12.77 17.67 20.59
CEPS(Rs) 2.32 6.34 12.59 16.78 17.4 18.55 24.13 31.25 28.6
DPS(Rs) 0 0 0.5 0.5 0.5 0.25 0.5 0.5 0.5
Book NAV/Share(Rs) 0 15.78 11.56 45.32 117.19 120.81 119.7 180.88 216.95
Core EBITDA Margin(%) 6.1 9.02 14.29 15.39 13.91 15.53 19.44 22.04 18.53
EBIT Margin(%) 6.61 8.14 13.14 15.51 16.82 15.34 15.67 18.64 15.57
Pre Tax Margin(%) 5.87 4.08 8.8 12.94 15.34 14.33 14.64 17.21 13.5
PAT Margin (%) 3.89 2.73 6.58 9.74 12.28 11.83 12.48 15.95 12.72
Cash Profit Margin (%) 4.28 4.71 8.37 11.27 14.05 13.72 16.83 21.08 17.67
ROA(%) 7.89 6.07 9.67 12.4 9.52 7.15 7.14 8.06 5.62
ROE(%) 17.48 26.44 72.4 52.98 20.02 13.44 14.88 16.05 10.35
ROCE(%) 28.55 34.23 39.5 43.66 22.8 15.87 16.59 15.76 10.31
Receivable days 70.92 51.11 77 89.81 105.03 107.99 117.32 118 120.48
Inventory Days 3.28 19.83 38.72 37.3 41.01 40.77 27.65 40.75 88.07
Payable days 125.55 99.54 137.23 101.86 97.5 128.93 155.56 194.02 192.82
PER(x) 0 7.85 15.76 31.65 27.33 21.74 55.23 52.79 32.66
Price/Book(x) 0 1.83 8.72 6.03 2.3 1.83 5.89 5.16 3.1
Dividend Yield(%) 0 0 0.4 0.15 0.19 0.11 0.07 0.05 0.07
EV/Net Sales(x) -0.01 0.47 0.91 1.83 1.74 1.65 5.05 6.16 4.3
EV/Core EBITDA(x) -0.16 4.46 5.88 10.62 9.37 9.58 25.22 25.9 20.97
Net Sales Growth(%) 0 166.02 12.31 25.72 9.94 9.22 6.07 8.69 9.17
EBIT Growth(%) 0 205.62 80.08 43.89 18.06 -0.41 8.4 29.27 -8.8
PAT Growth(%) 0 74.34 168.57 80.22 37.33 5.27 11.88 38.92 -12.93
EPS Growth(%) 0 0 73.48 35.07 14.39 2.92 25.68 38.34 16.51
Debt/Equity(x) 0.04 2.27 3.19 0.46 0.13 0.07 0.18 0.16 0.21
Current Ratio(x) 1.28 0.97 1.16 2.17 3.44 2.11 1.44 2.12 1.82
Quick Ratio(x) 1.25 0.74 0.88 1.83 3.09 1.84 1.33 1.81 1.34
Interest Cover(x) 8.92 2.01 3.03 6.04 11.42 15.26 15.2 13.07 7.53
Total Debt/Mcap(x) 0 1.24 0.37 0.08 0.05 0.04 0.03 0.03 0.07

Shivalik Rasayan Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 50.32 50.32 50.32 50.32 50.32 50.32 50.05 47.95 47.95 47.95
FII 0 0.06 0.04 0.01 0.01 0.01 0.35 0.66 1.18 1.87
DII 0 0 0 0 0 0 0 0.24 0.59 2.01
Public 49.68 49.62 49.64 49.66 49.67 49.67 49.6 51.14 50.28 48.17
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 194.02 to 192.82days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 47.95%.
  • Company has a low return on equity of 14% over the last 3 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.

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