Vishnu Chemicals

₹325.5 40 | 14%

WEBSITE BSE:516072 NSE : VISHNU CHEM 05 Jun, 16:01

Market Cap ₹2133 Cr.

Stock P/E 20.5

P/B 3.4

Current Price ₹325.5

Book Value ₹ 96.2

Face Value 2

52W High ₹385.3

Dividend Yield 0.09%

52W Low ₹ 248

Edit Ratio

Vishnu Chemicals Research see more...

Overview Inc. Year: 1993Industry: Chemicals

Vishnu Chemicals Ltd is in the work of marketing and the export of chromium chemicals, manufacturing, and other speciality chemicals. The Company's foremost product/services include Basic Chromium Sulphate and Sodium Bichromate. Its geographical segments consist of both inside and ouside of India. The Company produces a variety of chromium chemical compounds, which includes Potassium Dichromate, Chromic Acid, Chrome Oxide Green, Basic Chromium Sulphate (Vishnuchrome), and Sodium Dichromate. Barium Carbonate is fabricated from barium sulfate (barite) by means of reduction with pet coke and following precipitation with carbon dioxide. It has an annual ability of manufacturing over 1,000 MT of Potassium Dichromate, 70,000 MT of Sodium Dichromate, 1,000 MT of Chromic Acid, 70,000 metric ton (MT) of Basic Chromium Sulphate, ,200 MT of Sodium Saccharine and 400 MT of Vitamin K3. Its manufacturing plants are situated in Telangana, Andhra Pradesh and Chhattisgarh.

Vishnu Chemicals Share Price

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Peer Comparison

Vishnu Chemicals Quarterly Results

#(Fig in Cr.)	Jun 2015	Sep 2015	Dec 2015	Jun 2016	Sep 2016	Dec 2016	Jun 2017	Sep 2017	Dec 2017	Mar 2018
Net Sales	110	119	107	101	120	128	117	130	146	177
Other Income	0	0	1	2	1	1	2	2	1	3
Total Income	110	119	108	103	121	129	119	131	147	180
Total Expenditure	89	97	87	90	102	111	103	116	130	152
Operating Profit	21	23	21	13	18	18	15	15	17	28
Interest	7	8	8	7	7	8	9	9	10	14
Depreciation	3	3	3	3	3	3	4	4	4	4
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	10	11	9	2	8	7	2	2	3	10
Provision for Tax	4	5	3	2	2	3	2	0	2	4
Profit After Tax	6	7	6	0	6	4	0	1	2	6
Adjustments	-6	-7	-6	-0	-6	-4	-0	-1	-2	-6
Profit After Adjustments	0	0	0	0	0	0	0	0	0	0
Adjusted Earnings Per Share	1.1	1.1	1	0.1	1	0.7	0.1	0.2	0.3	1

Vishnu 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	325	352	418	463	439	562	668	571	573	907	1222	570
Other Income	2	1	3	2	7	8	4	9	4	7	16	8
Total Income	327	353	421	465	445	570	672	580	577	913	1237	577
Total Expenditure	269	288	341	378	379	492	585	504	512	779	1013	501
Operating Profit	58	65	80	88	66	78	87	76	65	134	224	75
Interest	35	31	34	35	41	44	44	37	26	26	28	42
Depreciation	12	13	12	12	13	16	18	17	17	19	20	16
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	11	21	34	41	12	17	25	21	22	89	175	17
Provision for Tax	4	8	12	15	7	8	13	8	-0	24	46	8
Profit After Tax	7	13	22	26	5	9	12	13	23	65	129	9
Adjustments	0	0	0	0	0	0	0	0	0	0	0	-9
Profit After Adjustments	7	13	22	26	5	9	12	13	23	65	129	0
Adjusted Earnings Per Share	1.2	2.2	3.7	4.4	0.9	1.6	2	2.2	3.8	10.9	21.7	1.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	35%	29%	17%	14%
Operating Profit CAGR	67%	43%	23%	14%
PAT CAGR	98%	115%	70%	34%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-11%	59%	64%	31%
ROE Average	46%	33%	24%	20%
ROCE Average	36%	23%	19%	19%

Vishnu 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	106	120	139	161	90	100	118	127	151	216	346
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	26	44	56	55	114	165	177	184	184	174	141
Other Non-Current Liabilities	52	81	96	69	63	65	76	72	73	57	43
Total Current Liabilities	227	181	206	302	385	400	337	295	295	322	298
Total Liabilities	412	425	496	587	653	730	708	678	704	770	829
Fixed Assets	206	196	186	181	271	332	323	315	364	375	377
Other Non-Current Assets	46	45	51	78	83	32	43	52	26	29	51
Total Current Assets	159	184	259	328	300	366	342	312	314	363	400
Total Assets	412	425	496	587	653	730	708	678	704	770	829

Vishnu 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	10	9	7	12	0	1	1	0	4	0	0
Cash Flow from Operating Activities	58	-3	13	39	72	78	93	35	49	88	97
Cash Flow from Investing Activities	-14	-7	-9	-26	-94	-29	-19	-14	-36	-35	-18
Cash Flow from Financing Activities	-44	7	1	-13	23	-49	-75	-17	-17	-53	-80
Net Cash Inflow / Outflow	-1	-3	5	-1	0	0	-1	3	-4	-0	-0
Closing Cash & Cash Equivalent	9	7	12	11	1	1	0	4	0	0	0

Vishnu 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)	1.23	2.2	3.67	4.36	0.9	1.58	2.04	2.21	3.81	10.92	21.65
CEPS(Rs)	3.28	4.38	5.71	6.33	3.13	4.3	5.03	5.06	6.68	14.15	25.09
DPS(Rs)	0	0	0.4	0.2	0	0.2	0.2	0.2	0.2	0.4	0.4
Book NAV/Share(Rs)	9.88	12.07	15.24	18.99	15.1	16.68	19.82	21.26	25.35	36.19	57.94
Core EBITDA Margin(%)	16.04	16.93	17.19	17.14	12.65	12.24	12.4	11.73	10.7	14.06	17.08
EBIT Margin(%)	13.16	13.71	15.06	15.2	11.21	10.78	10.37	10.26	8.4	12.66	16.67
Pre Tax Margin(%)	3.15	5.56	7.59	8.12	2.61	3	3.79	3.73	3.88	9.82	14.34
PAT Margin (%)	2.09	3.46	4.87	5.21	1.13	1.65	1.83	2.31	3.97	7.2	10.59
Cash Profit Margin (%)	5.58	6.89	7.58	7.56	3.95	4.51	4.5	5.3	6.96	9.32	12.26
ROA(%)	1.8	3.13	4.76	4.81	0.86	1.36	1.69	1.91	3.29	8.86	16.19
ROE(%)	13.26	20.02	26.86	25.47	5.26	9.93	11.18	10.78	16.35	35.49	46.01
ROCE(%)	18.23	19.73	22.8	22.57	14.18	14.47	15.14	12.98	10.36	22.74	35.86
Receivable days	47.61	50.13	61.56	73.36	76.32	71.43	71.36	64.85	58.33	55.35	49.46
Inventory Days	78.33	80.23	81.76	101.92	125.13	104.98	93.66	117.14	117.54	65.92	49.49
Payable days	199.18	143.92	102.68	157.49	210.18	187.62	169.55	173.93	184.18	125.42	113.37
PER(x)	6.44	7.81	9.27	13.79	64.43	34.93	14.06	5.92	14.97	29.16	12.5
Price/Book(x)	0.8	1.42	2.23	3.16	3.83	3.31	1.45	0.62	2.25	8.8	4.67
Dividend Yield(%)	0	0	1.18	0.33	0	0.36	0.7	1.53	0.35	0.13	0.15
EV/Net Sales(x)	0.7	0.86	0.99	1.28	1.44	1.2	0.74	0.67	1.15	2.43	1.53
EV/Core EBITDA(x)	3.9	4.65	5.2	6.75	9.53	8.65	5.67	5.09	10.12	16.43	8.32
Net Sales Growth(%)	-1.33	8.36	18.71	10.81	-5.29	28.07	18.79	-14.44	0.34	58.21	34.76
EBIT Growth(%)	-0.59	12.82	30.25	12.08	-30.34	16.05	12.76	-15.38	-17.87	138.58	77.38
PAT Growth(%)	-13.93	78.91	66.95	18.85	-79.42	75.98	29.27	8.49	72.1	186.72	98.26
EPS Growth(%)	-13.93	78.91	66.95	18.85	-79.42	75.98	29.27	8.49	72.1	186.72	98.26
Debt/Equity(x)	1.33	1.33	1.28	1.22	3.31	3.62	2.84	2.53	2.18	1.45	0.75
Current Ratio(x)	0.7	1.01	1.26	1.09	0.78	0.92	1.01	1.05	1.06	1.13	1.34
Quick Ratio(x)	0.35	0.54	0.7	0.54	0.36	0.5	0.5	0.41	0.46	0.66	0.73
Interest Cover(x)	1.31	1.68	2.02	2.15	1.3	1.39	1.58	1.57	1.86	4.46	7.15
Total Debt/Mcap(x)	3.01	1.56	0.87	0.55	0.87	1.09	1.96	4.1	0.97	0.16	0.16

Vishnu Chemicals Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	75	75	75	75	75	75	75	68.36	68.36	68.36
FII	0.3	0.46	0.58	1.26	1.1	0.8	0.46	1.45	0.33	0.21
DII	0	0	0	0	0	0	0	6.82	7.09	7.36
Public	24.7	24.54	24.42	23.74	23.9	24.2	24.54	23.36	24.21	24.06
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	0.9	0.9	0.9	0.9	0.9	4.48	4.48	4.48	4.48	4.48
FII	0	0.01	0.01	0.01	0.01	0.05	0.03	0.1	0.02	0.01
DII	0	0	0	0	0	0	0	0.45	0.46	0.48
Public	0.3	0.29	0.29	0.28	0.29	1.45	1.47	1.53	1.59	1.58
Others	0	0	0	0	0	0	0	0	0	0
Total	1.19	1.19	1.19	1.19	1.19	5.97	5.97	6.55	6.55	6.55

Pros

Company has delivered good profit growth of 70% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 33%
Debtor days have improved from 125.42 to 113.37days.
Company has reduced debt.

Cons

Stock is trading at 3.4 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.