Sunshield Chemicals

₹875 1.1 | 0.1%

WEBSITE BSE:530845 NSE : SUNSHIELD CH 18 May, 12:50

Market Cap ₹643 Cr.

Stock P/E 34.1

P/B 7.8

Current Price ₹875

Book Value ₹ 111.8

Face Value 10

52W High ₹1048

Dividend Yield 0.27%

52W Low ₹ 521.1

Edit Ratio

Sunshield Chemicals Research see more...

Overview Inc. Year: 1986Industry: Chemicals

Sunshield Chemicals Ltd manufactures and sells speciality chemical compounds in India and the world over. The enterprise basically gives ethylene oxide (EO) based merchandise, anti-oxidants, and other non-EO technologies and customised blends. Its chemical compounds are used in various industries, which includes steel treatment, wire insulation enamel, PVC stabilizers, inks, colours, coatings, textiles, agro chemicals, polymers, plastics, rubber, latex, tires and tubes, conveyor belts, lubricants, additives, domestic care, cosmetic, soaps, detergents, fertilizers, and other industries. The business enterprise become included in 1986 and is based in Mumbai, India. Sunshield Chemicals Ltd operates as a subsidiary of Indus Petrochem Ltd.

Sunshield Chemicals Share Price

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Peer Comparison

Sunshield Chemicals 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	58	67	63	64	51	66	67	66	65	86
Other Income	0	0	0	0	1	1	0	0	0	0
Total Income	58	67	63	65	52	67	67	66	66	86
Total Expenditure	50	60	54	54	47	59	58	57	55	73
Operating Profit	8	7	9	11	5	8	9	9	11	13
Interest	1	1	2	2	2	2	2	2	2	2
Depreciation	1	2	2	2	2	2	2	2	2	2
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	6	4	5	8	2	5	5	5	7	9
Provision for Tax	2	2	1	2	1	1	2	2	2	3
Profit After Tax	4	3	4	5	1	3	4	4	5	6
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	4	3	4	5	1	3	4	4	5	6
Adjusted Earnings Per Share	5.2	3.8	5.2	7.5	1.4	4.6	5.2	5.3	7	8.1

Sunshield Chemicals 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	105	134	119	150	166	183	190	181	199	244	245	284
Other Income	0	0	1	3	0	2	2	1	0	1	2	0
Total Income	106	134	120	153	166	185	192	182	199	245	247	285
Total Expenditure	97	123	117	140	159	168	173	164	169	213	214	243
Operating Profit	9	11	3	13	7	17	19	18	30	32	33	42
Interest	5	4	3	11	9	10	11	10	7	5	7	8
Depreciation	2	2	3	5	6	6	6	6	6	6	6	8
Exceptional Income / Expenses	0	0	0	0	0	0	-2	-1	0	18	0	0
Profit Before Tax	1	5	-4	-3	-8	2	0	1	17	39	19	26
Provision for Tax	0	6	-1	-3	-1	0	0	1	2	12	5	9
Profit After Tax	1	-0	-3	-1	-7	1	0	1	14	27	14	19
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	1	-0	-3	-1	-7	1	0	1	14	27	14	19
Adjusted Earnings Per Share	1.1	-0.6	-4.3	-1.1	-9.1	1.6	0.3	0.9	19.3	37.4	18.6	25.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	0%	11%	6%	9%
Operating Profit CAGR	3%	22%	14%	14%
PAT CAGR	-48%	141%	70%	30%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	63%	46%	44%	18%
ROE Average	23%	55%	35%	11%
ROCE Average	19%	25%	19%	12%

Sunshield Chemicals 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	21	21	18	17	10	11	11	12	26	54	66
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	19	22	42	60	41	37	17	50	50	35	41
Other Non-Current Liabilities	-1	6	5	4	8	10	5	3	3	14	23
Total Current Liabilities	41	51	66	71	83	101	117	84	63	82	63
Total Liabilities	79	100	131	151	142	159	150	149	142	185	193
Fixed Assets	36	34	31	79	74	71	69	71	66	71	79
Other Non-Current Assets	5	8	53	7	10	11	10	6	8	21	21
Total Current Assets	39	59	48	65	59	77	71	72	68	93	93
Total Assets	79	100	131	151	142	159	150	149	142	185	193

Sunshield Chemicals 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	1	1	3	0	1	1	3	-15	-26	-3	4
Cash Flow from Operating Activities	15	-7	13	1	12	2	15	19	35	33	14
Cash Flow from Investing Activities	-1	-3	-31	-17	-3	-4	-2	-7	-4	-17	-9
Cash Flow from Financing Activities	-14	12	15	18	-8	3	-30	-24	-7	-9	-11
Net Cash Inflow / Outflow	-0	2	-3	2	1	1	-18	-11	23	7	-5
Closing Cash & Cash Equivalent	1	3	0	2	1	3	-15	-26	-3	4	-1

Sunshield Chemicals 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)	1.15	-0.55	-4.33	-1.15	-9.07	1.64	0.3	0.88	19.29	37.37	18.58
CEPS(Rs)	4.52	2.58	0.11	6.31	-0.93	9.75	8.27	9.16	27.18	45.26	27.35
DPS(Rs)	0	0	0	0	0	0	0	0	0	2	2
Book NAV/Share(Rs)	29.18	28.63	24	22.85	13.38	15.08	15.33	16.08	35.55	72.99	89.76
Core EBITDA Margin(%)	7.52	7.74	1.69	6.19	4.09	8.37	8.56	9.43	14.87	12.8	12.73
EBIT Margin(%)	5.48	6.37	-0.33	4.65	0.79	6.05	5.76	6.18	12.08	18.02	10.84
Pre Tax Margin(%)	0.92	3.83	-3.07	-2.16	-4.53	0.82	0.12	0.66	8.37	16.06	7.8
PAT Margin (%)	0.75	-0.29	-2.5	-0.53	-3.81	0.65	0.12	0.36	7.14	11.26	5.58
Cash Profit Margin (%)	2.97	1.35	0.06	2.93	-0.39	3.87	3.21	3.72	10.06	13.64	8.22
ROA(%)	1.09	-0.45	-2.75	-0.6	-4.55	0.8	0.14	0.43	9.74	16.8	7.23
ROE(%)	4	-1.9	-16.45	-4.91	-50.08	11.51	1.99	5.57	74.72	68.85	22.83
ROCE(%)	9.49	12.57	-0.5	6.99	1.22	9.72	9.17	9.4	20.41	35.72	19.27
Receivable days	66.89	71.1	64.15	43.23	55.13	56.12	54.18	55.25	52.29	52.37	60.74
Inventory Days	35.12	32.72	48.91	55.27	52.27	53.02	56.68	56.73	50.36	41.5	49.04
Payable days	64.02	54.62	68.59	78.67	77.94	69.46	65.1	68.42	65.27	60.15	64.77
PER(x)	44.87	0	0	0	0	173.02	534.36	77.46	10.07	16.57	30.66
Price/Book(x)	1.76	5.58	13.13	14.35	20.93	18.8	10.55	4.22	5.46	8.48	6.35
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0.32	0.35
EV/Net Sales(x)	0.77	1.28	2.57	2.27	1.84	1.72	1.17	0.87	1.14	2.16	2.02
EV/Core EBITDA(x)	9.41	15.19	107.78	26.49	41.26	18.4	12.03	8.63	7.62	16.52	14.99
Net Sales Growth(%)	11.69	26.92	-10.96	26.24	10.31	10.65	3.45	-4.54	9.71	22.83	0.31
EBIT Growth(%)	-3.32	46.18	-104.72	1840.75	-81.14	706.59	-2.46	2.47	114.28	83.22	-39.66
PAT Growth(%)	-13.02	-148.04	-686.8	73.44	-689	118.06	-81.52	189.13	2103.82	93.71	-50.28
EPS Growth(%)	-13.02	-148.04	-686.8	73.44	-689	118.06	-81.53	189.16	2103.83	93.71	-50.28
Debt/Equity(x)	2.04	2.67	4.24	6.03	10.12	9.93	9.38	9.25	3.36	1.46	1.17
Current Ratio(x)	0.96	1.15	0.72	0.91	0.71	0.77	0.61	0.86	1.08	1.13	1.47
Quick Ratio(x)	0.68	0.88	0.41	0.52	0.44	0.46	0.38	0.51	0.67	0.78	0.9
Interest Cover(x)	1.2	2.51	-0.12	0.68	0.15	1.16	1.02	1.12	3.26	9.19	3.56
Total Debt/Mcap(x)	1.16	0.48	0.32	0.42	0.48	0.53	0.89	2.19	0.62	0.17	0.18

Sunshield Chemicals Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	62.36	62.36	62.36	62.36	62.36	62.36	62.36	62.36	62.36	62.36
FII	0	0	0	0	0.32	1.67	3.5	5.01	5.01	5.01
DII	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Public	37.63	37.63	37.63	37.63	37.3	35.95	34.13	32.61	32.61	32.61
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	0.46	0.46	0.46	0.46	0.46	0.46	0.46	0.46	0.46	0.46
FII	0	0	0	0	0	0.01	0.03	0.04	0.04	0.04
DII	0	0	0	0	0	0	0	0	0	0
Public	0.28	0.28	0.28	0.28	0.27	0.26	0.25	0.24	0.24	0.24
Others	0	0	0	0	0	0	0	0	0	0
Total	0.74	0.74	0.74	0.74	0.74	0.74	0.74	0.74	0.74	0.74

Pros

Company has delivered good profit growth of 69% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 55%

Cons

Debtor days have increased from 60.15 to 64.77days.
Stock is trading at 7.8 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.