Valiant Organics

₹407.5 8 | 2%

WEBSITE BSE:540145 NSE : VALIANTORG 10 May, 16:01

Market Cap ₹1124 Cr.

Stock P/E 28.6

P/B 1.6

Current Price ₹407.5

Book Value ₹ 253.8

Face Value 10

52W High ₹635.2

Dividend Yield 0.25%

52W Low ₹ 374

Edit Ratio

Valiant Organics Research see more...

Equity Research: Valiant Organics

Overview Inc. Year: 2005Industry: Chemicals

Valiant Organics Ltd, formerly known as Valiant Organics Pvt Ltd, is a chemical production agency. The Company focuses on production and advertising of various types of chlorophenol, that's a chemical and has numerous applications, including agro-chemical industry, pharmaceutical industry, dyes industry, manufacturing of cosmetics and veterinary pills. The Company's section is engaged in Pharmaceutical enterprise. The Company manufactures Chlorophenols, particularly, OrthoChlorophenol, ParaChlorophenol and di-chlorophenols, specifically, 2,4 Di-chlorophenol and 2,6 Di-chlorophenol. The Company focuses on growing in-house process technology to enlarge its product variety, which includes chloro phenols, which is used as intermediates in prescription drugs, pesticides, disinfectants, anti-bacterial and veterinary. The Company's production facility is located at Sarigam Industrial Estate, which has installed capacity of approximately 4,800 metric tons/annum.

Valiant Organics Share Price

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Peer Comparison

Valiant Organics 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	273	288	348	266	264	250	271	202	203	141
Other Income	2	3	2	2	2	1	3	3	4	0
Total Income	275	291	350	268	266	252	274	205	207	142
Total Expenditure	226	238	291	234	222	212	219	178	188	138
Operating Profit	49	53	59	34	44	40	55	27	19	4
Interest	2	1	2	3	3	3	3	4	4	4
Depreciation	7	8	8	7	7	7	8	9	9	9
Exceptional Income / Expenses	0	0	0	0	0	5	0	6	0	0
Profit Before Tax	41	44	49	24	34	35	44	20	6	-9
Provision for Tax	11	11	12	7	9	9	10	5	2	-2
Profit After Tax	30	32	37	17	26	26	34	15	5	-7
Adjustments	-4	-2	-6	-1	-5	-4	-4	-3	-0	-1
Profit After Adjustments	26	30	31	15	21	22	30	12	4	-8
Adjusted Earnings Per Share	9.4	11	11.5	5.7	7.7	8.1	11	4.6	1.6	-2.9

Valiant Organics Profit & Loss

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	692	675	755	1153	1052	817
Other Income	9	6	6	7	8	10
Total Income	701	681	761	1161	1060	828
Total Expenditure	512	494	550	948	888	723
Operating Profit	189	187	211	212	172	105
Interest	4	3	5	6	11	15
Depreciation	14	16	21	30	29	35
Exceptional Income / Expenses	0	0	0	0	5	6
Profit Before Tax	171	168	185	176	137	61
Provision for Tax	50	42	54	48	35	15
Profit After Tax	121	126	131	128	103	47
Adjustments	12	-2	-16	-15	-14	-8
Profit After Adjustments	133	124	115	113	88	38
Adjusted Earnings Per Share	113.6	51	42.2	41.7	32.5	14.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-9%	16%	0%	0%
Operating Profit CAGR	-19%	-3%	0%	0%
PAT CAGR	-20%	-6%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-14%	-36%	-15%	NA%
ROE Average	16%	23%	31%	31%
ROCE Average	15%	23%	32%	32%

Valiant Organics Balance Sheet

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	259	388	503	613	689
Minority's Interest	12	13	6	36	51
Borrowings	44	84	75	106	71
Other Non-Current Liabilities	15	15	22	28	36
Total Current Liabilities	117	169	270	409	393
Total Liabilities	448	669	876	1192	1239
Fixed Assets	150	276	510	543	670
Other Non-Current Assets	80	169	63	122	98
Total Current Assets	218	224	303	527	471
Total Assets	448	669	876	1192	1239

Valiant Organics Cash Flow

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	13	3	8	13	25
Cash Flow from Operating Activities	76	161	115	-31	238
Cash Flow from Investing Activities	-88	-184	-159	-124	-143
Cash Flow from Financing Activities	1	27	49	167	-112
Net Cash Inflow / Outflow	-11	5	5	12	-17
Closing Cash & Cash Equivalent	4	8	13	25	8

Valiant Organics Ratios

#	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	113.6	51	42.19	41.72	32.45
CEPS(Rs)	115.01	58.43	56.02	58.02	48.52
DPS(Rs)	12	11	5	3.5	1
Book NAV/Share(Rs)	213.89	158.75	184.83	225.66	253.42
Core EBITDA Margin(%)	26.03	26.75	27.18	17.76	15.61
EBIT Margin(%)	25.32	25.34	25.15	15.84	14.07
Pre Tax Margin(%)	24.73	24.96	24.49	15.28	13.04
PAT Margin (%)	17.51	18.7	17.34	11.09	9.75
Cash Profit Margin (%)	19.48	21.03	20.15	13.66	12.53
ROA(%)	27.05	22.59	16.94	12.37	8.44
ROE(%)	48.33	39.65	29.49	22.95	15.77
ROCE(%)	51.25	39.4	30.68	21.66	15.28
Receivable days	74.54	74.08	69.97	75.6	99.81
Inventory Days	25.26	25.09	28.3	29.4	41.62
Payable days	68.9	75.28	88.54	57.09	79.87
PER(x)	6.64	10.24	30.64	22.05	12.85
Price/Book(x)	3.53	3.29	7	4.08	1.65
Dividend Yield(%)	0.8	1.05	0.39	0.38	0.24
EV/Net Sales(x)	1.39	2.07	4.89	2.44	1.33
EV/Core EBITDA(x)	5.1	7.48	17.48	13.27	8.11
Net Sales Growth(%)	0	-2.51	11.83	52.79	-8.8
EBIT Growth(%)	0	-2.41	10.99	-3.8	-18.99
PAT Growth(%)	0	4.08	3.7	-2.26	-19.82
EPS Growth(%)	0	-55.1	-17.28	-1.12	-22.21
Debt/Equity(x)	0.33	0.36	0.41	0.59	0.4
Current Ratio(x)	1.86	1.33	1.12	1.29	1.2
Quick Ratio(x)	1.45	1.06	0.86	1.01	0.88
Interest Cover(x)	43.19	66.57	37.99	28.19	13.71
Total Debt/Mcap(x)	0.09	0.11	0.06	0.15	0.24

Valiant Organics Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	39.01	39	38.46	38.42	38.41	38.41	38.37	37.9	37.9	37.77
FII	1.98	1.73	1.99	0.68	0.57	0.18	0.31	0.19	0.69	1.14
DII	1.9	1.92	1.89	2.13	1.95	0.89	0.88	0.92	0.87	0.43
Public	57.11	57.35	57.66	58.77	59.08	60.52	60.44	60.99	60.53	60.66
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	1.06	1.06	1.04	1.04	1.04	1.04	1.04	1.03	1.05	1.04
FII	0.05	0.05	0.05	0.02	0.02	0	0.01	0.01	0.02	0.03
DII	0.05	0.05	0.05	0.06	0.05	0.02	0.02	0.03	0.02	0.01
Public	1.55	1.56	1.57	1.6	1.6	1.64	1.64	1.66	1.67	1.67
Others	0	0	0	0	0	0	0	0	0	0
Total	2.72	2.72	2.72	2.72	2.72	2.72	2.72	2.72	2.76	2.76

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 23%
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 37.77%.
Debtor days have increased from 57.09 to 79.87days.

* 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.