Adani Wilmar Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:32 am

Market Cap	37,808 Cr.
Current Price	291
High / Low	409/279
Stock P/E	38.5
Book Value	68.8
Dividend Yield	0.00 %
ROCE	9.70 %
ROE	1.92 %
Face Value	1.00
PEG Ratio	-0.92

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
IEL Ltd	18.6 Cr.	5.58	12.0/4.53	27.0	0.50	0.00 %	17.5 %	23.6 %	1.00
Evexia Lifecare Ltd	695 Cr.	3.70	4.40/1.55	187	2.37	0.00 %	0.30 %	1.26 %	1.00
Diligent Industries Ltd	97.9 Cr.	3.89	6.29/3.51	32.3	0.79	0.00 %	7.35 %	12.0 %	1.00
CIAN Agro Industries & Infrastructure Ltd	1,397 Cr.	499	499/34.7	423	31.9	0.00 %	11.1 %	5.85 %	10.0
BCL Industries Ltd	1,532 Cr.	51.9	86.3/45.8	14.7	25.6	0.48 %	15.7 %	16.0 %	1.00
Industry Average	9,877.07 Cr	164.28		113.14	39.66	0.20%	10.93%	9.85%	4.59

All Competitor Stocks of

Quarterly Result

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Sales	13,558	14,379	14,917	14,724	14,150	15,438	13,873	12,928	12,267	12,828	13,238	14,169	14,460
Expenses	13,129	13,875	14,492	14,281	13,896	14,833	13,755	12,798	12,123	12,324	12,881	13,550	13,894
Operating Profit	430	504	426	443	254	605	118	130	144	504	357	619	566
OPM %	3%	4%	3%	3%	2%	4%	1%	1%	1%	4%	3%	4%	4%
Other Income	25	27	63	52	59	78	313	66	11	59	104	61	105
Interest	149	143	107	150	163	252	210	171	220	187	171	166	177
Depreciation	76	81	83	86	90	91	92	94	96	95	79	96	92
Profit before tax	229	306	298	260	60	340	129	-68	-162	281	211	418	402
Tax %	27%	28%	26%	24%	47%	32%	28%	-12%	-19%	27%	27%	25%	30%
Net Profit	182	211	234	194	49	246	94	-79	-131	201	157	313	311
EPS in Rs	1.60	1.85	1.80	1.49	0.38	1.89	0.72	-0.61	-1.01	1.55	1.21	2.41	2.39

Last Updated: November 6, 2024, 7:26 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	28,797	29,657	37,090	54,155	58,185	51,262	52,502
Expenses	27,666	28,348	35,765	52,418	57,223	50,126	50,878
Operating Profit	1,131	1,310	1,326	1,736	962	1,135	1,624
OPM %	4%	4%	4%	3%	2%	2%	3%
Other Income	122	110	104	172	961	240	235
Interest	487	569	407	541	775	749	744
Depreciation	199	241	268	309	358	364	367
Profit before tax	567	609	755	1,059	789	262	748
Tax %	37%	34%	14%	27%	30%	35%
Net Profit	376	461	729	804	582	148	540
EPS in Rs	32.86	40.32	63.74	6.18	4.48	1.14	4.16
Dividend Payout %	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	22.61%	58.13%	10.29%	-27.61%	-74.57%
Change in YoY Net Profit Growth (%)	0.00%	35.53%	-47.85%	-37.90%	-46.96%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 5 years from 2019-2020 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	12%
3 Years:	11%
TTM:	0%

Compounded Profit Growth
10 Years:	%
5 Years:	-16%
3 Years:	-40%
TTM:	435%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	-20%

Return on Equity
10 Years:	%
5 Years:	10%
3 Years:	7%
Last Year:	2%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 5:59 pm

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	114	114	114	130	130	130	130
Reserves	1,997	2,456	3,185	7,476	8,036	8,186	8,813
Borrowings	1,829	2,300	3,051	2,701	2,396	2,628	2,159
Other Liabilities	7,662	6,915	6,978	11,010	10,417	8,833	10,769
Total Liabilities	11,603	11,786	13,328	21,317	20,979	19,777	21,871
Fixed Assets	3,027	3,758	3,702	4,601	4,793	4,930	5,077
CWIP	570	325	531	275	324	870	1,092
Investments	147	206	332	362	392	312	819
Other Assets	7,858	7,497	8,763	16,079	15,469	13,665	14,884
Total Assets	11,603	11,786	13,328	21,317	20,979	19,777	21,871

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	1,693	781	726	1,198	663	289
Cash from Investing Activity +	-934	-506	-484	-3,786	524	138
Cash from Financing Activity +	-762	-8	-531	2,658	-919	-563
Net Cash Flow	-3	267	-289	70	268	-136

Free Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	0.00	-1.00	-2.00	-1.00	960.00	-1.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	16	11	15	15	12	13
Inventory Days	61	57	55	58	53	58
Days Payable	101	85	60	69	59	56
Cash Conversion Cycle	-24	-17	10	4	6	14
Working Capital Days	-9	-5	11	5	8	14
ROCE %		27%	21%	19%	15%	10%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	87.94%	87.94%	87.94%	87.94%	87.94%	87.94%	87.94%	87.88%	87.88%	87.88%	87.88%
FIIs	2.01%	1.50%	1.63%	1.57%	1.27%	1.14%	0.63%	0.65%	0.77%	0.73%	0.95%
DIIs	0.41%	0.00%	0.09%	0.14%	0.11%	0.06%	0.06%	0.12%	0.29%	0.25%	0.07%
Public	9.64%	10.56%	10.34%	10.35%	10.68%	10.85%	11.36%	11.35%	11.08%	11.15%	11.11%
No. of Shareholders	8,02,280	11,17,522	9,87,112	10,05,433	11,32,258	11,44,602	11,53,748	12,00,267	11,73,450	11,61,453	10,75,647

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Nippon India ETF Nifty Next 50 Junior BeES	164,143	0.14	5.83	164,143	2024-12-20	0%
ICICI Prudential Nifty Next 50 Index Fund	151,277	0.14	5.38	164,143	2024-12-20	-7.84%
UTI Nifty Next 50 Index Fund	122,506	0.14	4.35	164,143	2024-12-20	-25.37%
SBI Nifty Next 50 ETF	81,358	0.14	2.89	164,143	2024-12-20	-50.43%
UTI Nifty Next 50 Exchange Traded Fund	65,044	0.14	2.31	164,143	2024-12-20	-60.37%
HDFC Nifty 100 Equal Weight Index Fund	28,373	0.94	1.01	164,143	2024-12-20	-82.71%
SBI Nifty Next 50 Index Fund	26,055	0.14	0.93	164,143	2024-12-20	-84.13%
HDFC NIFTY Next 50 Index Fund	17,869	0.14	0.64	164,143	2024-12-20	-89.11%
ICICI Prudential Nifty Next 50 ETF	17,285	0.14	0.61	164,143	2024-12-20	-89.47%
Axis Nifty 100 Index Fund	15,716	0.05	0.56	164,143	2024-12-20	-90.43%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	1.00	1.00	1.00	10.00	10.00
Basic EPS (Rs.)	1.14	4.48	6.89	6.37	4.03
Diluted EPS (Rs.)	1.14	4.48	6.89	6.37	4.03
Cash EPS (Rs.)	4.11	7.02	8.34	80.50	56.37
Book Value[Excl.RevalReserv]/Share (Rs.)	63.98	62.83	58.52	288.56	224.92
Book Value[Incl.RevalReserv]/Share (Rs.)	63.98	62.83	58.52	288.56	224.92
Revenue From Operations / Share (Rs.)	394.41	447.68	417.12	3245.15	2594.78
PBDIT / Share (Rs.)	10.99	14.79	14.69	125.16	124.19
PBIT / Share (Rs.)	8.19	12.03	12.31	101.78	103.08
PBT / Share (Rs.)	2.02	6.07	8.15	66.20	53.28
Net Profit / Share (Rs.)	1.31	4.26	5.96	57.11	35.26
NP After MI And SOA / Share (Rs.)	1.14	4.48	6.18	63.66	40.32
PBDIT Margin (%)	2.78	3.30	3.52	3.85	4.78
PBIT Margin (%)	2.07	2.68	2.95	3.13	3.97
PBT Margin (%)	0.51	1.35	1.95	2.03	2.05
Net Profit Margin (%)	0.33	0.95	1.42	1.75	1.35
NP After MI And SOA Margin (%)	0.28	1.00	1.48	1.96	1.55
Return on Networth / Equity (%)	1.77	7.12	10.56	22.06	17.92
Return on Capital Employeed (%)	11.33	16.82	18.80	23.24	26.40
Return On Assets (%)	0.74	2.77	3.77	5.46	3.91
Long Term Debt / Equity (X)	0.00	0.00	0.01	0.31	0.44
Total Debt / Equity (X)	0.29	0.27	0.33	0.49	0.84
Asset Turnover Ratio (%)	2.51	2.70	3.12	2.98	2.55
Current Ratio (X)	1.22	1.24	1.24	1.04	1.00
Quick Ratio (X)	0.53	0.58	0.64	0.46	0.47
Inventory Turnover Ratio (X)	5.82	6.15	7.67	7.50	5.70
Interest Coverage Ratio (X)	1.91	2.48	3.53	3.52	2.49
Interest Coverage Ratio (Post Tax) (X)	1.30	1.71	2.43	2.61	1.71
Enterprise Value (Cr.)	41339.18	51269.45	65333.59	0.00	0.00
EV / Net Operating Revenue (X)	0.80	0.88	1.21	0.00	0.00
EV / EBITDA (X)	28.93	26.67	34.23	0.00	0.00
MarketCap / Net Operating Revenue (X)	0.81	0.90	1.24	0.00	0.00
Price / BV (X)	5.02	6.46	8.84	0.00	0.00
Price / Net Operating Revenue (X)	0.81	0.90	1.24	0.00	0.00
EarningsYield	0.00	0.01	0.01	0.00	0.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 51.87

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 21, 2024, is Overvalued by 82.18% compared to the current share price 291.00

Intrinsic Value of as of December 21, 2024 is: 30.05

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 21, 2024, is Overvalued by 89.67% compared to the current share price 291.00

Last 5 Year EPS CAGR: -42.07%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 15.33%, which is a positive sign. The stock has a low average Working Capital Days of 4.00, which is a positive sign. The stock has a low average Cash Conversion Cycle of -1.17, which is a positive sign. The company has higher reserves (5,735.57 cr) compared to borrowings (2,437.71 cr), indicating strong financial stability. The company has shown consistent growth in sales (44.14 cr) and profit (533.00 cr) over the years.

Strength

Weakness

The stock has a high average ROCE of 15.33%, which is a positive sign.
The stock has a low average Working Capital Days of 4.00, which is a positive sign.
The stock has a low average Cash Conversion Cycle of -1.17, which is a positive sign.
The company has higher reserves (5,735.57 cr) compared to borrowings (2,437.71 cr), indicating strong financial stability.
The company has shown consistent growth in sales (44.14 cr) and profit (533.00 cr) over the years.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 0.33%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 11.33% (Industry Average ROCE: 10.93%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 1.77% (Industry Average ROE: 9.41%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 1.3
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.53
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 38.5 (Industry average Stock P/E: 92.57)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.29
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Adani Wilmar Ltd. is a Public Limited Listed company incorporated on 22/01/1999 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L15146GJ1999PLC035320 and registration number is 035320. Currently Company is involved in the business activities of Manufacture of vegetable oils and fats excluding corn oil. Company’s Total Operating Revenue is Rs. 52361.01 Cr. and Equity Capital is Rs. 129.97 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Edible Oils & Solvent Extraction	Fortune House, Ahmedabad Gujarat 380009	investor.relations@adaniwilmar.in http://www.adaniwilmar.com

Management
Name	Position Held
Mr. Dorab Mistry	Non Exe.Chairman&Ind.Director
Mr. Kuok Khoon Hong	Non Executive Vice Chairman
Mr. Angshu Mallick	Managing Director & CEO
Mr. Ravindra Kumar Singh	Whole Time Director
Dr. Malay Mahadevia	Non Executive Director
Mr. Pranav AdanI	Non Executive Director
Mr. Madhu Rao	Independent Director
Dr. Anup P Shah	Independent Director
Mrs. Dipali H Sheth	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹51.87, which is 82.18% lower than the current market price of ₹291.00. The stock has a market capitalization of 37,808 Cr. and recorded a high/low of 409/279 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹8,813 Cr and total liabilities of ₹21,871 Cr.

What is the Market Cap of ?

The Market Cap of is 37,808 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 291.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 409/279.

What is the Stock P/E of ?

The Stock P/E of is 38.5.

What is the Book Value of ?

The Book Value of is 68.8.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 9.70 %.

What is the ROE of ?

The ROE of is 1.92 %.

What is the Face Value of ?

The Face Value of is 1.00.