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Last Updated on: 22 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Bhansali Engineering Polymers Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 10:24 pm

Market Cap 2,954 Cr.
Current Price 119
High / Low177/81.6
Stock P/E16.3
Book Value 39.0
Dividend Yield3.37 %
ROCE24.4 %
ROE18.1 %
Face Value 1.00
PEG Ratio0.96

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

View Share Price Target for Bhansali Engineering Polymers Ltd

Competitors of Bhansali Engineering Polymers Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Hindustan Fluoro Carbons Ltd 32.8 Cr. 16.823.7/13.025.1 41.90.00 %3.05 %% 10.0
Gujarat Petrosynthese Ltd 42.4 Cr. 71.098.0/44.233.6 81.90.00 %2.73 %3.46 % 10.0
AVI Polymers Ltd 5.03 Cr. 12.314.0/9.45101 12.00.00 %0.57 %0.41 % 10.0
Supreme Petrochem Ltd 12,885 Cr. 686927/52131.3 1121.31 %22.5 %16.8 % 2.00
Signet Industries Ltd 195 Cr. 66.397.4/52.215.5 75.40.75 %14.8 %7.22 % 10.0
Industry Average4,421.57 Cr210.6541.4979.550.80%12.39%9.72%7.55

All Competitor Stocks of Bhansali Engineering Polymers Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales411473232375342446337358339328294314292
Expenses227254131211244345277305298306238257245
Operating Profit1842191011649810160534122575847
OPM %45%46%43%44%29%23%18%15%12%7%19%18%16%
Other Income225364777813910
Interest0000000100000
Depreciation3223222332222
Profit before tax18321910316510110365574627676454
Tax %26%25%25%25%25%29%26%28%27%49%24%26%26%
Net Profit13616377124767348413314504840
EPS in Rs5.476.563.104.963.042.941.911.651.340.572.021.931.61

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales4144195076015316261,0321,2251,1041,2921,3941,3631,276
Expenses3944044915754935628771,1461,0188459311,1861,098
Operating Profit2015162537641547986447463177178
OPM %5%4%3%4%7%10%15%6%8%35%33%13%14%
Other Income111238147610192937
Interest1311101411108101010
Depreciation644565671010101010
Profit before tax203923571547783446472195204
Tax %39%-441%47%38%29%37%35%40%19%25%26%30%
Net Profit111517361004767333349136146
EPS in Rs0.040.050.060.220.671.434.001.872.6813.4014.045.465.86
Dividend Payout %152%139%112%31%10%9%5%18%12%5%14%207%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)0.00%0.00%400.00%240.00%111.76%177.78%-53.00%42.55%397.01%4.80%-61.03%
Change in YoY Net Profit Growth (%)0.00%0.00%400.00%-160.00%-128.24%66.01%-230.78%95.55%354.46%-392.21%-65.84%

Bhansali Engineering Polymers Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:0%
3 Years:-2%
TTM:3%
Compounded Profit Growth
10 Years:62%
5 Years:31%
3 Years:-19%
TTM:25%
Stock Price CAGR
10 Years:29%
5 Years:31%
3 Years:1%
1 Year:21%
Return on Equity
10 Years:27%
5 Years:29%
3 Years:23%
Last Year:18%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:36 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital17171717171717171717172525
Reserves1841741691111462422823406649641,050896946
Borrowings3059423213700000000
Other Liabilities1431291691911211662302979612799133232
Total Liabilities3743793963504214245296537771,1071,1651,0541,203
Fixed Assets1431331228293107144150141145140133129
CWIP000006020001921
Investments0012222221111
Other Assets2312462732673263093845006349621,0249021,051
Total Assets3743793963504214245296537771,1071,1651,0541,203

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +42-113656781925388103298140230
Cash from Investing Activity +-1-5-6-35-12-16-55-43-21-300-1545
Cash from Financing Activity +-3917-33-23-65-149-7-10-9-50-50-324
Net Cash Flow21-3-2227-83574-5275-49

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow20.00-15.00-43.00-17.005.00-73.00154.0079.0086.00447.00463.00177.00

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

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days1127889918066675182746469
Inventory Days647754749439368560966360
Days Payable14110311615867627011119342340
Cash Conversion Cycle355227610743332512313610489
Working Capital Days67735443114444544107157136148
ROCE %5%5%9%18%29%58%28%25%86%57%19%24%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters56.45%56.64%56.64%56.65%56.65%56.71%57.48%57.48%57.48%57.48%57.48%57.48%
FIIs1.54%1.01%0.89%0.82%0.85%0.93%1.03%0.95%1.13%1.12%2.09%1.66%
DIIs0.02%0.01%0.02%0.00%0.00%0.00%0.00%0.04%0.05%0.06%0.07%0.13%
Public41.99%42.33%42.44%42.54%42.50%42.38%41.51%41.54%41.35%41.35%40.36%40.75%
No. of Shareholders1,02,3851,09,4841,11,9081,10,1621,07,7361,05,9381,07,5251,13,6411,15,6301,22,6801,08,3521,26,905

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Nifty Microcap 250 Index Fund104,6720.170.962782024-11-1937551.8%
Groww Nifty Total Market Index Fund2780.0102782024-11-190%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)7.218.2421.1020.134.04
Diluted EPS (Rs.)7.218.2421.1020.134.04
Cash EPS (Rs.)7.578.7921.6620.714.60
Book Value[Excl.RevalReserv]/Share (Rs.)37.0864.3759.1541.0721.47
Book Value[Incl.RevalReserv]/Share (Rs.)37.0864.3759.1541.0721.47
Revenue From Operations / Share (Rs.)49.0982.1384.0277.8766.56
PBDIT / Share (Rs.)10.1112.4129.0727.535.56
PBIT / Share (Rs.)9.7211.8128.4726.924.99
PBT / Share (Rs.)9.7111.7428.4526.884.98
Net Profit / Share (Rs.)7.188.1921.0620.104.03
NP After MI And SOA / Share (Rs.)7.218.2421.1020.134.04
PBDIT Margin (%)20.5815.1034.5935.358.35
PBIT Margin (%)19.7914.3833.8734.567.49
PBT Margin (%)19.7714.2933.8634.517.48
Net Profit Margin (%)14.619.9725.0625.806.05
NP After MI And SOA Margin (%)14.6810.0325.1125.846.06
Return on Networth / Equity (%)19.4312.8035.6649.0018.81
Return on Capital Employeed (%)25.6118.0247.2163.5621.95
Return On Assets (%)16.9811.7131.5842.9610.26
Asset Turnover Ratio (%)1.101.201.481.811.87
Current Ratio (X)7.3010.888.488.111.72
Quick Ratio (X)6.098.736.656.600.96
Inventory Turnover Ratio (X)5.084.754.423.003.84
Dividend Payout Ratio (NP) (%)180.3636.394.732.4812.37
Dividend Payout Ratio (CP) (%)171.1133.934.602.4110.83
Earning Retention Ratio (%)-80.3663.6195.2797.5287.63
Cash Earning Retention Ratio (%)-71.1166.0795.4097.5989.17
Interest Coverage Ratio (X)1227.61175.642878.91724.95821.38
Interest Coverage Ratio (Post Tax) (X)872.67116.962087.29530.14596.05
Enterprise Value (Cr.)2014.981343.891896.692169.58415.36
EV / Net Operating Revenue (X)1.650.981.361.680.37
EV / EBITDA (X)8.016.533.934.754.50
MarketCap / Net Operating Revenue (X)1.821.191.511.800.43
Retention Ratios (%)-80.3663.6095.2697.5187.62
Price / BV (X)2.411.522.153.411.34
Price / Net Operating Revenue (X)1.821.191.511.800.43
EarningsYield0.080.080.160.140.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Bhansali Engineering Polymers Ltd as of November 22, 2024 is: 118.94

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 November 22, 2024, Bhansali Engineering Polymers Ltd is Overvalued by 0.05% compared to the current share price 119.00

Intrinsic Value of Bhansali Engineering Polymers Ltd as of November 22, 2024 is: 139.09

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 November 22, 2024, Bhansali Engineering Polymers Ltd is Undervalued by 16.88% compared to the current share price 119.00

Last 5 Year EPS CAGR: 16.94%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 30.25%, which is a positive sign.
  2. The company has higher reserves (474.46 cr) compared to borrowings (23.08 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (238.85 cr) and profit (132.69 cr) over the years.
  1. The stock has a high average Working Capital Days of 86.00, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 65.00, which may not be favorable.

Stock Analysis

  • 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 Bhansali Engineering Polymers Ltd:
    1. Net Profit Margin: 14.61%
      • 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: 25.61% (Industry Average ROCE: 12.39%)
      • 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%: 19.43% (Industry Average ROE: 8.84%)
      • 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): 872.67
      • 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: 6.09
      • 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: 16.3 (Industry average Stock P/E: 37.72)
      • 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
      • 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

Bhansali Engineering Polymers Ltd. is a Public Limited Listed company incorporated on 09/04/1984 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L27100MH1984PLC032637 and registration number is 032637. Currently company belongs to the Industry of Petrochem - Polymers. Company’s Total Operating Revenue is Rs. 1393.95 Cr. and Equity Capital is Rs. 16.59 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Petrochemicals - Polymers301 & 302, 3rd Floor, Peninsula Heights, Mumbai Maharashtra 400058investors@bhansaliabs.com
http://www.bhansaliabs.com
Management
NamePosition Held
Mr. B M BhansaliChairman & Managing Director
Mr. Jayesh B BhansaliJoint Managing Director & CFO
Mr. Dilip Krushnarao ShendreWhole Time Director
Mr. Rohinton Bomanshaw AnklesariaInd. Non-Executive Director
Mr. Firdaus Nariman PavriInd. Non-Executive Director
Ms. Taruna Niraj KumbharInd. Non-Executive Director

FAQ

What is the latest intrinsic value of Bhansali Engineering Polymers Ltd?

The latest intrinsic value of Bhansali Engineering Polymers Ltd as on 22 November 2024 is ₹118.94, which is 0.05% lower than the current market price of ₹119.00.

What is the Market Cap of Bhansali Engineering Polymers Ltd?

The Market Cap of Bhansali Engineering Polymers Ltd is 2,954 Cr..

What is the current Stock Price of Bhansali Engineering Polymers Ltd as on 22 November 2024?

The current stock price of Bhansali Engineering Polymers Ltd as on 22 November 2024 is 119.

What is the High / Low of Bhansali Engineering Polymers Ltd stocks in FY 2024?

In FY 2024, the High / Low of Bhansali Engineering Polymers Ltd stocks is 177/81.6.

What is the Stock P/E of Bhansali Engineering Polymers Ltd?

The Stock P/E of Bhansali Engineering Polymers Ltd is 16.3.

What is the Book Value of Bhansali Engineering Polymers Ltd?

The Book Value of Bhansali Engineering Polymers Ltd is 39.0.

What is the Dividend Yield of Bhansali Engineering Polymers Ltd?

The Dividend Yield of Bhansali Engineering Polymers Ltd is 3.37 %.

What is the ROCE of Bhansali Engineering Polymers Ltd?

The ROCE of Bhansali Engineering Polymers Ltd is 24.4 %.

What is the ROE of Bhansali Engineering Polymers Ltd?

The ROE of Bhansali Engineering Polymers Ltd is 18.1 %.

What is the Face Value of Bhansali Engineering Polymers Ltd?

The Face Value of Bhansali Engineering Polymers Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bhansali Engineering Polymers Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE