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Last Updated on: 10 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo
Stock Ticker - BSE: 514183 | NSE: BLACKROSE

Black Rose Industries Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: December 9, 2024, 9:39 pm

Market Cap 681 Cr.
Current Price 133
High / Low162/118
Stock P/E33.1
Book Value 27.7
Dividend Yield0.41 %
ROCE21.2 %
ROE15.6 %
Face Value 1.00
PEG Ratio-7.55

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

View Share Price Target for Black Rose Industries Ltd

Competitors of Black Rose Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
HP Adhesives Ltd 772 Cr. 83.7131/75.037.5 19.20.36 %17.7 %12.6 % 2.00
Haryana Leather Chemicals Ltd 47.8 Cr. 97.3124/56.810.6 87.21.03 %8.96 %7.25 % 10.0
Hardcastle & Waud Mfg Co Ltd 63.8 Cr. 9381,355/44833.4 6630.00 %7.00 %5.98 % 10.0
Grauer & Weil (India) Ltd 4,797 Cr. 106120/60.129.9 19.20.47 %26.1 %19.6 % 1.00
DMCC Speciality Chemicals Ltd 945 Cr. 378403/24571.3 85.40.26 %10.8 %5.68 % 10.0
Industry Average13,207.12 Cr989.7860.56181.120.30%13.11%9.99%6.77

All Competitor Stocks of Black Rose Industries Ltd

Quarterly Result

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Sales126.05128.21134.50119.83101.9497.50111.1787.6283.8693.62115.3698.27123.33
Expenses112.96114.92126.39113.4498.7696.32108.1381.9975.8786.34108.2092.09116.63
Operating Profit13.0913.298.116.393.181.183.045.637.997.287.166.186.70
OPM %10.38%10.37%6.03%5.33%3.12%1.21%2.73%6.43%9.53%7.78%6.21%6.29%5.43%
Other Income0.110.410.470.300.430.520.790.741.091.091.671.040.83
Interest0.270.190.140.220.630.510.480.190.250.190.440.070.24
Depreciation0.650.670.650.680.790.780.790.760.730.770.750.780.79
Profit before tax12.2812.847.795.792.190.412.565.428.107.417.646.376.50
Tax %24.92%26.32%26.44%26.08%29.22%34.15%29.30%25.28%25.43%26.59%25.52%25.90%27.54%
Net Profit9.229.475.734.281.550.271.814.056.045.445.704.724.71
EPS in Rs1.811.861.120.840.300.050.350.791.181.071.120.930.92

Last Updated: November 6, 2024, 7:08 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 2:51 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales122115196177242298309373380486430380391
Expenses117113189168227276284340339442416352362
Operating Profit52710152224334044142829
OPM %4%2%3%5%6%7%8%9%11%9%3%7%7%
Other Income0111111-013255
Interest2355544321211
Depreciation1233322233333
Profit before tax3-2-1281619273743112930
Tax %41%11%-177%35%34%27%28%24%25%26%28%26%
Net Profit2-3125121421273282122
EPS in Rs0.43-0.530.100.320.982.302.724.055.386.251.554.164.30
Dividend Payout %0%0%0%0%10%7%11%9%8%12%35%16%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-250.00%133.33%100.00%150.00%140.00%16.67%50.00%28.57%18.52%-75.00%162.50%
Change in YoY Net Profit Growth (%)0.00%383.33%-33.33%50.00%-10.00%-123.33%33.33%-21.43%-10.05%-93.52%237.50%

Black Rose Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:4%
3 Years:0%
TTM:13%
Compounded Profit Growth
10 Years:26%
5 Years:9%
3 Years:-8%
TTM:69%
Stock Price CAGR
10 Years:19%
5 Years:9%
3 Years:-14%
1 Year:-13%
Return on Equity
10 Years:22%
5 Years:22%
3 Years:17%
Last Year:16%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 5:40 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital4555555555555
Reserves101414162030436288117122140136
Borrowings223742424235302317145417
Other Liabilities21343022423431513740304331
Total Liabilities57909284109105109141147176162193190
Fixed Assets8424138363433373537404144
CWIP18000000278874
Investments00000000000120
Other Assets32485146737176102105131114132142
Total Assets57909284109105109141147176162193190

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +7-116712111710152314
Cash from Investing Activity +-7-11-1-0-0-0-0-7-5-6-12-10
Cash from Financing Activity +0121-6-4-11-9-9-5-4-11-2
Net Cash Flow0-0-002122-0502

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-17.00-35.00-35.00-32.00-27.00-13.00-6.0010.0023.0030.009.0024.00

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 Days537152475242334742505064
Inventory Days276632354337464553412844
Days Payable5310257415938345234282040
Cash Conversion Cycle273428413741454061635869
Working Capital Days303934424138464461605669
ROCE %13%1%8%12%19%29%31%38%38%36%10%21%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs0.06%0.06%0.06%0.06%0.06%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public24.94%24.94%24.94%24.94%24.94%25.00%25.00%25.00%25.00%24.99%24.98%25.00%
No. of Shareholders62,03666,54572,66175,78179,87579,25177,98376,36473,56470,53867,53164,799

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)4.161.556.255.384.05
Diluted EPS (Rs.)4.161.556.255.384.05
Cash EPS (Rs.)4.752.156.775.894.51
Book Value[Excl.RevalReserv]/Share (Rs.)28.4524.9223.9918.2313.23
Book Value[Incl.RevalReserv]/Share (Rs.)28.4524.9223.9918.2313.23
Revenue From Operations / Share (Rs.)74.5984.4095.6674.4773.06
PBDIT / Share (Rs.)6.403.109.127.966.56
PBIT / Share (Rs.)5.812.518.607.456.10
PBT / Share (Rs.)5.602.158.437.215.36
Net Profit / Share (Rs.)4.161.556.255.384.05
NP After MI And SOA / Share (Rs.)4.161.556.255.384.05
PBDIT Margin (%)8.583.679.5310.688.97
PBIT Margin (%)7.792.978.9910.008.34
PBT Margin (%)7.512.548.819.687.33
Net Profit Margin (%)5.581.836.537.225.54
NP After MI And SOA Margin (%)5.581.836.537.225.54
Return on Networth / Equity (%)14.636.2326.0729.5130.63
Return on Capital Employeed (%)19.549.5133.7937.8740.56
Return On Assets (%)11.024.8818.1518.6614.62
Long Term Debt / Equity (X)0.010.020.020.030.06
Total Debt / Equity (X)0.020.030.110.170.29
Asset Turnover Ratio (%)2.152.552.171.662.04
Current Ratio (X)3.484.042.832.241.58
Quick Ratio (X)2.542.981.821.270.97
Inventory Turnover Ratio (X)1.491.501.530.991.44
Dividend Payout Ratio (NP) (%)13.2148.307.196.508.92
Dividend Payout Ratio (CP) (%)11.5734.916.645.948.01
Earning Retention Ratio (%)86.7951.7092.8193.5091.08
Cash Earning Retention Ratio (%)88.4365.0993.3694.0691.99
Interest Coverage Ratio (X)30.578.6152.2533.6913.15
Interest Coverage Ratio (Post Tax) (X)20.875.3136.8423.799.62
Enterprise Value (Cr.)609.04526.75997.89894.77400.20
EV / Net Operating Revenue (X)1.601.222.052.361.07
EV / EBITDA (X)18.6533.2921.4622.0511.97
MarketCap / Net Operating Revenue (X)1.641.262.042.331.04
Retention Ratios (%)86.7851.6992.8093.4991.07
Price / BV (X)4.304.268.159.545.76
Price / Net Operating Revenue (X)1.641.262.042.331.04
EarningsYield0.030.010.030.030.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Black Rose Industries Ltd as of December 10, 2024 is: 143.62

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 10, 2024, Black Rose Industries Ltd is Undervalued by 7.98% compared to the current share price 133.00

Intrinsic Value of Black Rose Industries Ltd as of December 10, 2024 is: 137.33

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 10, 2024, Black Rose Industries Ltd is Undervalued by 3.26% compared to the current share price 133.00

Last 5 Year EPS CAGR: -4.38%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 21.33%, which is a positive sign.
  2. The company has higher reserves (62.46 cr) compared to borrowings (25.38 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (299.92 cr) and profit (17.08 cr) over the years.
  1. The stock has a high average Working Capital Days of 46.67, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 45.33, 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 Black Rose Industries Ltd:
    1. Net Profit Margin: 5.58%
      • 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: 19.54% (Industry Average ROCE: 13.11%)
      • 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%: 14.63% (Industry Average ROE: 9.66%)
      • 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): 20.87
      • 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: 2.54
      • 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: 33.1 (Industry average Stock P/E: 50.47)
      • 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: 0.02
      • 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

Black Rose Industries Ltd. is a Public Limited Listed company incorporated on 01/01/1990 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L17120MH1990PLC054828 and registration number is 054828. Currently Company is involved in the business activities of Wholesale of industrial chemicals,. Company’s Total Operating Revenue is Rs. 341.88 Cr. and Equity Capital is Rs. 5.10 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Chemicals - Speciality - Others145-A, Mittal Tower, Mumbai Maharashtra 400021investor@blackrosechemicals.com
http://www.blackrosechemicals.com
Management
NamePosition Held
Mr. Anup JatiaNon Executive Chairperson
Mrs. Shruti JatiaWhole Time Director
Mr. Ambarish DagaWhole Time Director
Mr. Rishabh SarafInd. Non-Executive Director
Mr. Abhishek MurarkaInd. Non-Executive Director
Mrs. Deepa PonchaInd. Non-Executive Director

FAQ

What is the latest intrinsic value of Black Rose Industries Ltd?

The latest intrinsic value of Black Rose Industries Ltd as on 10 December 2024 is ₹143.62, which is 7.98% higher than the current market price of ₹133.00. The stock has a market capitalization of 681 Cr. and recorded a high/low of ₹162/118 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹136 Cr and total liabilities of ₹190 Cr.

What is the Market Cap of Black Rose Industries Ltd?

The Market Cap of Black Rose Industries Ltd is 681 Cr..

What is the current Stock Price of Black Rose Industries Ltd as on 10 December 2024?

The current stock price of Black Rose Industries Ltd as on 10 December 2024 is 133.

What is the High / Low of Black Rose Industries Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Black Rose Industries Ltd stocks is 162/118.

What is the Stock P/E of Black Rose Industries Ltd?

The Stock P/E of Black Rose Industries Ltd is 33.1.

What is the Book Value of Black Rose Industries Ltd?

The Book Value of Black Rose Industries Ltd is 27.7.

What is the Dividend Yield of Black Rose Industries Ltd?

The Dividend Yield of Black Rose Industries Ltd is 0.41 %.

What is the ROCE of Black Rose Industries Ltd?

The ROCE of Black Rose Industries Ltd is 21.2 %.

What is the ROE of Black Rose Industries Ltd?

The ROE of Black Rose Industries Ltd is 15.6 %.

What is the Face Value of Black Rose Industries Ltd?

The Face Value of Black Rose Industries 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 Black Rose Industries 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