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Last Updated on: 23 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 500123 | NSE: ELANTAS

Fundamental Analysis of Elantas Beck India Ltd

Share Price and Basic Stock Data

Last Updated: July 22, 2024, 10:02 pm

Market Cap 8,563 Cr.
Current Price 10,798
High / Low12,948/6,101
Stock P/E59.4
Book Value 923
Dividend Yield0.05 %
ROCE27.7 %
ROE20.6 %
Face Value 10.0
PEG Ratio3.21

Data Source: screener.in

Competitors of Elantas Beck India Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Elantas Beck India Ltd 8,563 Cr. 10,79812,948/6,10159.4 9230.05 %27.7 %20.6 % 10.0
Crestchem Ltd 41.4 Cr. 138164/58.419.3 15.80.36 %79.7 %57.3 % 10.0
Chemiesynth (Vapi) Ltd 10.5 Cr. 34.134.1/21.0 36.90.00 %0.96 %3.38 % 10.0
Archit Organosys Ltd 101 Cr. 49.266.3/35.1126 31.31.02 %3.92 %1.27 % 10.0
Sanginita Chemicals Ltd 44.9 Cr. 17.336.7/14.361.5 15.80.00 %5.16 %1.90 % 10.0
Industry Average7,570.14 Cr1,281.3370.52213.150.39%16.47%12.41%8.36

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales129115133146156171153165169173163174177
Expenses10499117124126141129136134136126138139
Operating Profit25161622303024293637373638
OPM %20%13%12%15%19%17%16%17%21%21%23%20%21%
Other Income24154411410813121715
Interest0000000000000
Depreciation3333333333333
Profit before tax25172822312835354047474949
Tax %27%25%29%26%24%26%22%25%26%25%25%25%25%
Net Profit18132017242127263035353737
EPS in Rs22.8615.8724.7020.9429.9125.9534.0733.4037.9144.6843.9346.6746.56

Last Updated: July 11, 2024, 8:01 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: July 10, 2024, 1:09 pm

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023TTM
Sales274304341344365383409394383522645680687
Expenses243265299282287304344340313444535537539
Operating Profit31394262797865547078110143148
OPM %11%13%12%18%22%20%16%14%18%15%17%21%21%
Other Income1111868931182225325358
Interest0000000000111
Depreciation555656771212121212
Profit before tax37454562818189648091129184193
Tax %26%29%30%32%33%32%26%22%23%27%24%25%
Net Profit2832324254556650626798137144
EPS in Rs34.7940.0539.8752.6868.7369.4882.9962.5177.9084.36123.34173.19181.84
Dividend Payout %265%137%11%9%7%6%5%8%6%6%4%3%

Profit & Loss Yearly Chart

Unable to calculate Year-wise YoY Net Profit Growth.

Growth

Compounded Sales Growth
10 Years:8%
5 Years:11%
3 Years:21%
TTM:4%
Compounded Profit Growth
10 Years:17%
5 Years:22%
3 Years:31%
TTM:50%
Stock Price CAGR
10 Years:32%
5 Years:40%
3 Years:40%
1 Year:86%
Return on Equity
10 Years:18%
5 Years:16%
3 Years:17%
Last Year:21%

Last Updated: July 17, 2024, 12:38 am

Balance Sheet

Last Updated: July 10, 2024, 1:09 pm

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Equity Capital888888888888
Reserves120100128164214270331376434497591724
Borrowings000000000000
Other Liabilities1279357647070767295114119149
Total Liabilities255201192236291348415456536618717881
Fixed Assets49484545364070110103989899
CWIP001051501018191317
Investments100453064109139174160218261356517
Other Assets105108116126140154171176198240250247
Total Assets255201192236291348415456536618717881

Reserves and Borrowings Chart

Cash Flow

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Cash from Operating Activity 2623314656513348792983133
Cash from Investing Activity -186219-42-51-45-32-40-69-33-76-132
Cash from Financing Activity -4-85-51-4-5-5-4-5-4-4-5-5
Net Cash Flow4-0-2002-346-82-3

Free Cash Flow

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Free Cash Flow31.0039.0042.0062.0079.0078.0065.0054.0070.0078.00110.00143.00

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

MonthDec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023
Debtor Days515653595370755767615855
Inventory Days9081848510075747789957368
Days Payable5144556473737156103866781
Cash Conversion Cycle909382808071787754706441
Working Capital Days-44958555562695946574833
ROCE %20%34%35%40%41%33%23%18%19%17%22%28%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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%
FIIs4.00%3.99%3.99%4.00%3.76%3.67%0.82%0.80%0.74%0.73%0.71%0.70%
DIIs7.74%7.77%7.98%8.35%8.59%8.59%11.31%11.44%11.50%11.73%11.80%11.88%
Public13.26%13.24%13.03%12.65%12.65%12.75%12.87%12.75%12.76%12.54%12.49%12.42%
No. of Shareholders7,2457,4437,4487,3927,0887,1557,1457,2837,4757,5787,5267,541

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund614,6251.39716.94215,7672024-07-22184.86%
Tata Small Cap Fund215,7673.55251.68215,7672024-07-220%
Tata Large & Mid Cap Fund - Regular Plan102,5511.64119.62215,7672024-07-22-52.47%
Tata Large & Mid Cap Fund - Regular Plan102,5511.64119.62215,7672024-07-22-52.47%
Union Small Cap Fund7,3140.68.53215,7672024-07-22-96.61%
Union Retirement Fund1,3001.21.52215,7672024-07-22-99.4%
Union Childrens Fund4411.10.51215,7672024-07-22-99.8%
Union Equity Savings Fund3210.30.37215,7672024-07-22-99.85%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthDec 23Dec 22Dec 21Dec 20Dec 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)173.18123.3484.3677.9162.52
Diluted EPS (Rs.)173.18123.3484.3677.9162.52
Cash EPS (Rs.)188.19138.9799.6492.6771.79
Book Value[Excl.RevalReserv]/Share (Rs.)923.34755.07636.59557.02484.41
Book Value[Incl.RevalReserv]/Share (Rs.)923.34755.07636.59557.02484.41
Dividend / Share (Rs.)5.005.005.005.005.00
Revenue From Operations / Share (Rs.)857.61813.23658.62483.28497.07
PBDIT / Share (Rs.)247.35165.77119.32116.2290.16
PBIT / Share (Rs.)232.34150.14104.05101.4680.89
PBT / Share (Rs.)231.62162.89115.26101.1880.46
Net Profit / Share (Rs.)173.18123.3484.3677.9162.52
PBDIT Margin (%)28.8420.3818.1124.0418.13
PBIT Margin (%)27.0918.4615.7920.9916.27
PBT Margin (%)27.0020.0217.5020.9316.18
Net Profit Margin (%)20.1915.1612.8016.1212.57
Return on Networth / Equity (%)18.7516.3313.2513.9812.90
Return on Capital Employeed (%)24.3419.2415.7917.6316.18
Return On Assets (%)15.5913.6210.8111.5110.86
Asset Turnover Ratio (%)0.850.960.900.770.90
Current Ratio (X)6.125.924.754.655.11
Quick Ratio (X)5.535.113.873.994.28
Inventory Turnover Ratio (X)5.405.215.254.185.07
Dividend Payout Ratio (NP) (%)2.884.055.926.417.19
Dividend Payout Ratio (CP) (%)2.653.595.015.396.26
Earning Retention Ratio (%)97.1295.9594.0893.5992.81
Cash Earning Retention Ratio (%)97.3596.4194.9994.6193.74
Interest Coverage Ratio (X)343.36212.79379.45422.05211.54
Interest Coverage Ratio (Post Tax) (X)241.41141.97232.60283.93147.67
Enterprise Value (Cr.)6676.603404.852895.592157.701935.04
EV / Net Operating Revenue (X)9.825.285.555.634.91
EV / EBITDA (X)34.0525.9130.6123.4227.07
MarketCap / Net Operating Revenue (X)9.905.355.585.704.97
Retention Ratios (%)97.1195.9494.0793.5892.80
Price / BV (X)9.205.765.774.955.10
Price / Net Operating Revenue (X)9.905.355.585.704.97
EarningsYield0.020.020.020.020.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 11,299.84

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.

Undervalued: 4.65% compared to the current price 10798

Intrinsic Value: 13,387.60

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 23.98% compared to the current price 10798

Last 5 Year EPS CAGR: 18.48%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 27.50%, which is a positive sign.
  2. The company has higher reserves (329.08 cr) compared to borrowings (0.00 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (440.85 cr) and profit (90.85 cr) over the years.
  1. The stock has a high average Working Capital Days of 42.25, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 73.33, 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 Elantas Beck India Ltd:
    1. Net Profit Margin: 20.19%
      • 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: 24.34% (Industry Average ROCE: 16.47%)
      • 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%: 18.75% (Industry Average ROE: 12.41%)
      • 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): 241.41
      • 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: 5.53
      • 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: 59.4 (Industry average Stock P/E: 70.52)
      • 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: N/A
      • 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

Elantas Beck India Ltd. is a Public Limited Listed company incorporated on 15/03/1956 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L24222PN1956PLC134746 and registration number is 134746. Currently Company is involved in the business activities of Manufacture of paints and varnishes, enamels or lacquers. Company’s Total Operating Revenue is Rs. 522.13 Cr. and Equity Capital is Rs. 7.93 Cr. for the Year ended 31/12/2021.
INDUSTRYADDRESSCONTACT
Chemicals - Organic - Others147, Mumbai-Pune Road, Pune Maharashtra 411018CS.Elantas.Beck.India@altana.com
https://www.elantas.com/beck-india
Management
NamePosition Held
Mr. Martin BabilasChairman
Mr. Srikumar RamakrishnanManaging Director
Mr. Nandkumar DhekneDirector
Mr. Ranjal Laxmana ShenoyDirector
Mrs. Usha RajeevDirector
Mr. Ravindra KumarDirector
Mr. Sujjain TalwarDirector
Mr. Stefan GentenAlternate Director

FAQ

What is the latest fair value of Elantas Beck India Ltd?

The latest fair value of Elantas Beck India Ltd is ₹11299.84.

What is the Market Cap of Elantas Beck India Ltd?

The Market Cap of Elantas Beck India Ltd is 8,563 Cr..

What is the current Stock Price of Elantas Beck India Ltd as on 22 July 2024?

The current stock price of Elantas Beck India Ltd as on 22 July 2024 is 10,798.

What is the High / Low of Elantas Beck India Ltd stocks in FY 2024?

In FY 2024, the High / Low of Elantas Beck India Ltd stocks is 12,948/6,101.

What is the Stock P/E of Elantas Beck India Ltd?

The Stock P/E of Elantas Beck India Ltd is 59.4.

What is the Book Value of Elantas Beck India Ltd?

The Book Value of Elantas Beck India Ltd is 923.

What is the Dividend Yield of Elantas Beck India Ltd?

The Dividend Yield of Elantas Beck India Ltd is 0.05 %.

What is the ROCE of Elantas Beck India Ltd?

The ROCE of Elantas Beck India Ltd is 27.7 %.

What is the ROE of Elantas Beck India Ltd?

The ROE of Elantas Beck India Ltd is 20.6 %.

What is the Face Value of Elantas Beck India Ltd?

The Face Value of Elantas Beck India Ltd is 10.0.

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 Elantas Beck India 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