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Vinyl Chemicals

₹358.7 0.6 | 0.2%

Market Cap ₹658 Cr.

Stock P/E 30.1

P/B 5.6

Current Price ₹358.7

Book Value ₹ 63.7

Face Value 1

52W High ₹544.4

Dividend Yield 1.88%

52W Low ₹ 309

Vinyl Chemicals Research see more...

Overview Inc. Year: 1986Industry: Trading

Vinyl Chemicals (India) Ltd. is engaged in trading of chemical substances. The Company is involved in the business of selling numerous chemical compounds to textile, paints and adhesive sectors. The Company is engaged mainly in trading of Vinyl Acetate Monomer (VAM). The VAM is imported/sourced from numerous international suppliers and allotted/traded in India.

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Vinyl Chemicals Share Price

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Peer Comparison

Vinyl 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 333 121 311 324 271 107 115 154 159 168
Other Income 0 4 5 1 0 1 1 1 1 2
Total Income 333 124 316 325 271 108 117 155 160 170
Total Expenditure 319 105 301 311 261 97 112 150 150 160
Operating Profit 14 19 15 14 10 11 5 5 9 10
Interest 0 0 0 0 0 1 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 14 19 15 13 10 10 5 5 9 10
Provision for Tax 4 5 4 3 3 2 1 1 2 3
Profit After Tax 11 15 11 10 7 7 4 4 7 8
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 11 15 11 10 7 7 4 4 7 8
Adjusted Earnings Per Share 5.8 7.9 6 5.5 4 4 1.9 2.1 3.8 4.1

Vinyl 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 244 293 442 335 293 375 483 372 404 865 1013 596
Other Income 1 1 1 3 4 4 4 4 1 2 2 5
Total Income 244 294 443 338 297 379 486 376 406 868 1015 602
Total Expenditure 235 282 424 326 283 361 472 366 390 821 966 572
Operating Profit 9 11 19 12 13 18 14 10 15 47 49 29
Interest 0 0 0 0 0 0 0 0 0 0 1 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 9 11 19 12 13 18 14 10 15 47 48 29
Provision for Tax 3 4 6 4 5 6 5 3 4 12 12 7
Profit After Tax 6 7 12 8 9 12 9 7 11 35 36 23
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 6 7 12 8 9 12 9 7 11 35 36 23
Adjusted Earnings Per Share 3.2 4.1 6.7 4.4 4.8 6.4 4.8 4.1 6.2 19 19.4 11.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 17% 40% 22% 15%
Operating Profit CAGR 4% 70% 22% 18%
PAT CAGR 3% 73% 25% 20%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -22% 33% 38% 35%
ROE Average 34% 31% 24% 26%
ROCE Average 46% 42% 34% 38%

Vinyl 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 20 26 35 42 48 55 59 61 68 96 113
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 0 0 0 0 0 0 1 0 1 0 0
Total Current Liabilities 47 79 68 89 65 120 94 94 206 78 73
Total Liabilities 68 106 104 132 113 176 155 156 275 175 187
Fixed Assets 0 0 0 0 0 0 0 0 0 0 1
Other Non-Current Assets 1 1 1 1 1 0 2 1 1 1 0
Total Current Assets 67 104 103 131 112 175 153 155 275 174 186
Total Assets 68 106 104 132 113 176 155 156 275 175 187

Vinyl 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 7 2 1 0 1 9 11 11 0
Cash Flow from Operating Activities 7 2 0 34 -7 -3 -21 51 11 17 -21
Cash Flow from Investing Activities -7 3 -3 -33 10 8 34 -44 -6 -21 41
Cash Flow from Financing Activities 0 0 -2 -3 -3 -4 -5 -5 -4 -7 -19
Net Cash Inflow / Outflow 0 6 -4 -2 -0 1 7 2 0 -11 1
Closing Cash & Cash Equivalent 1 7 3 1 0 1 9 11 11 0 1

Vinyl 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) 3.24 4.08 6.73 4.36 4.75 6.36 4.83 4.07 6.19 19.01 19.44
CEPS(Rs) 3.24 4.08 6.73 4.36 4.76 6.37 4.84 4.07 6.19 19.02 19.49
DPS(Rs) 0.8 1 1.5 1.5 1.8 2.4 2.4 2.4 3.75 10 10
Book NAV/Share(Rs) 11.05 13.96 18.89 23.13 26.06 30.26 32.19 33.35 37.13 52.37 61.8
Core EBITDA Margin(%) 3.36 3.53 3.97 2.78 3.17 3.8 2.17 1.7 3.45 5.13 4.61
EBIT Margin(%) 3.7 3.88 4.26 3.68 4.6 4.85 2.92 2.7 3.78 5.42 4.83
Pre Tax Margin(%) 3.61 3.87 4.24 3.67 4.59 4.83 2.9 2.68 3.77 5.4 4.69
PAT Margin (%) 2.44 2.56 2.8 2.38 2.98 3.11 1.84 2 2.81 4.03 3.52
Cash Profit Margin (%) 2.44 2.56 2.8 2.38 2.98 3.11 1.84 2.01 2.81 4.03 3.53
ROA(%) 10.02 8.62 11.8 6.77 7.11 8.07 5.35 4.8 5.27 15.48 19.67
ROE(%) 32.7 32.64 40.98 20.74 19.33 22.59 15.47 12.41 17.57 42.49 34.06
ROCE(%) 48.38 48.52 61.4 31.67 29.51 34.9 24.38 16.57 23.48 56.65 46.41
Receivable days 46.69 53.41 41.57 53.04 59.3 59.94 53.46 53.65 70.59 25.72 7.65
Inventory Days 26.46 35.34 30.48 34.06 26.53 35.54 45.99 55.94 54.66 26.62 24.8
Payable days 57.91 78.02 58.82 78.46 84.76 85.15 76.25 88.02 137.74 57.23 21.91
PER(x) 2.89 4.09 9.72 11.51 14.75 15.71 16.69 10.28 18.74 13.78 17.23
Price/Book(x) 0.85 1.2 3.47 2.17 2.69 3.3 2.51 1.25 3.12 5 5.42
Dividend Yield(%) 8.57 5.99 2.29 2.99 2.57 2.4 2.98 5.74 3.23 3.82 2.99
EV/Net Sales(x) 0.07 0.08 0.27 0.27 0.44 0.48 0.29 0.18 0.5 0.56 0.6
EV/Core EBITDA(x) 1.8 2.13 6.27 7.41 9.54 9.98 9.86 6.53 13.17 10.25 12.51
Net Sales Growth(%) 15.17 20.21 50.81 -24.05 -12.72 28.18 28.67 -22.88 8.55 114.05 17.04
EBIT Growth(%) 20.96 26 65.34 -34.26 8.89 35.23 -22.62 -28.69 52.28 206.41 4.31
PAT Growth(%) 18.46 26.1 64.89 -35.28 9.11 33.85 -24.05 -15.81 52.19 207.13 2.25
EPS Growth(%) 18.46 26.1 64.89 -35.28 9.11 33.85 -24.05 -15.81 52.18 207.13 2.25
Debt/Equity(x) 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0
Current Ratio(x) 1.42 1.31 1.5 1.47 1.73 1.46 1.62 1.65 1.33 2.22 2.54
Quick Ratio(x) 0.98 0.86 0.95 1.19 1.46 1 0.92 1.14 0.98 1.55 1.38
Interest Cover(x) 40.94 306.03 254.19 187.11 467.19 228.56 186.64 196.27 329.53 283.95 36.15
Total Debt/Mcap(x) 0.03 0.02 0 0.01 0 0 0 0.01 0 0 0

Vinyl Chemicals Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 50.62 50.62 50.62 50.41 50.41 50.41 50.41 50.41 50.41 50.41
FII 0.07 0.16 0.42 1.39 1.64 1.2 0 0 0 0.09
DII 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Public 49.3 49.22 48.95 48.19 47.95 48.38 49.58 49.58 49.58 49.49
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 24% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 31%
  • Debtor days have improved from 57.23 to 21.91days.
  • Company is almost debt free.

Cons

  • Stock is trading at 5.6 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.

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