Grauer & Weil (India) Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 8:07 pm

Market Cap	4,577 Cr.
Current Price	101
High / Low	120/63.5
Stock P/E	28.6
Book Value	19.2
Dividend Yield	0.50 %
ROCE	26.1 %
ROE	19.6 %
Face Value	1.00
PEG Ratio	1.56

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

Stock P/E Current Price Intrinsic Value

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Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
HP Adhesives Ltd	725 Cr.	78.9	131/75.0	35.2	19.2	0.38 %	17.7 %	12.6 %	2.00
Haryana Leather Chemicals Ltd	44.4 Cr.	90.5	124/56.8	9.83	87.2	1.10 %	8.96 %	7.25 %	10.0
Hardcastle & Waud Mfg Co Ltd	61.8 Cr.	909	1,355/451	32.4	663	0.00 %	7.00 %	5.98 %	10.0
Grauer & Weil (India) Ltd	4,577 Cr.	101	120/63.5	28.6	19.2	0.50 %	26.1 %	19.6 %	1.00
DMCC Speciality Chemicals Ltd	972 Cr.	390	453/245	73.3	85.4	0.26 %	10.8 %	5.68 %	10.0
Industry Average	12,868.59 Cr	928.74		58.01	173.84	0.31%	14.09%	10.82%	6.44

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	170	203	261	199	205	251	327	200	250	285	333	264	255
Expenses	144	169	237	159	166	204	297	152	202	230	294	200	212
Operating Profit	26	34	24	40	39	47	30	48	49	55	39	64	43
OPM %	15%	17%	9%	20%	19%	19%	9%	24%	20%	19%	12%	24%	17%
Other Income	3	3	7	4	4	5	4	6	7	9	8	8	14
Interest	0	0	2	0	-0	1	1	0	0	0	3	0	0
Depreciation	5	5	5	5	5	5	5	5	5	5	5	5	6
Profit before tax	24	32	25	39	38	47	29	48	51	58	39	67	51
Tax %	25%	26%	27%	25%	26%	26%	25%	23%	26%	26%	26%	24%	26%
Net Profit	18	23	18	29	28	34	22	37	37	43	29	51	38
EPS in Rs	0.39	0.51	0.40	0.64	0.62	0.76	0.48	0.81	0.83	0.94	0.64	1.12	0.83

Last Updated: November 6, 2024, 6:37 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 2:20 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	327	380	409	413	432	497	600	618	605	768	981	1,068	1,133
Expenses	274	319	333	335	346	400	494	521	505	655	825	877	926
Operating Profit	53	61	76	78	86	98	106	97	101	114	156	191	207
OPM %	16%	16%	19%	19%	20%	20%	18%	16%	17%	15%	16%	18%	18%
Other Income	2	3	1	2	4	10	5	20	15	16	18	31	34
Interest	21	17	14	10	3	3	2	3	3	3	3	5	4
Depreciation	11	12	16	14	14	15	15	19	18	20	20	21	21
Profit before tax	24	35	46	56	73	91	94	95	94	107	152	196	215
Tax %	17%	14%	28%	24%	26%	30%	32%	21%	27%	26%	26%	25%
Net Profit	20	30	33	42	54	64	64	76	69	79	113	146	160
EPS in Rs	0.44	0.67	0.74	0.93	1.20	1.41	1.41	1.67	1.52	1.74	2.49	3.23	3.53
Dividend Payout %	14%	12%	15%	15%	17%	21%	21%	15%	16%	19%	16%	8%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	50.00%	10.00%	27.27%	28.57%	18.52%	0.00%	18.75%	-9.21%	14.49%	43.04%	29.20%
Change in YoY Net Profit Growth (%)	0.00%	-40.00%	17.27%	1.30%	-10.05%	-18.52%	18.75%	-27.96%	23.70%	28.55%	-13.83%

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:	11%
5 Years:	12%
3 Years:	21%
TTM:	11%

Compounded Profit Growth
10 Years:	17%
5 Years:	16%
3 Years:	30%
TTM:	22%

Stock Price CAGR
10 Years:	30%
5 Years:	33%
3 Years:	52%
1 Year:	59%

Return on Equity
10 Years:	17%
5 Years:	17%
3 Years:	18%
Last Year:	20%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 2:37 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	23	23	23	23	23	23	23	23	23	23	23	23	45
Reserves	145	171	194	228	278	331	379	422	491	560	657	783	824
Borrowings	119	97	68	27	20	7	21	23	22	25	24	27	13
Other Liabilities	125	133	125	119	133	146	159	174	214	217	251	293	322
Total Liabilities	412	423	410	397	454	507	581	642	750	824	954	1,125	1,204
Fixed Assets	231	225	216	210	212	206	231	241	238	247	244	243	250
CWIP	0	1	0	0	0	0	3	1	4	1	3	14	21
Investments	3	3	2	1	1	3	1	0	0	1	17	49	74
Other Assets	178	194	192	186	241	297	346	399	508	576	690	818	859
Total Assets	412	423	410	397	454	507	581	642	750	824	954	1,125	1,204

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	57	49	55	77	87	71	33	84	117	44	114	159
Cash from Investing Activity +	-17	-6	-9	-8	-54	-61	-13	-53	-43	-17	-116	-108
Cash from Financing Activity +	-38	-43	-46	-62	-10	-25	-2	-36	-3	-15	-19	-20
Net Cash Flow	1	0	0	8	23	-14	17	-5	71	12	-21	31

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-66.00	-36.00	8.00	51.00	66.00	91.00	85.00	74.00	79.00	89.00	132.00	164.00

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 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	87	89	80	70	63	65	68	67	77	62	68	63
Inventory Days	129	109	120	115	118	100	106	126	108	121	83	90
Days Payable	95	79	67	68	82	81	68	95	110	91	77	86
Cash Conversion Cycle	121	119	133	117	99	83	106	99	75	92	75	67
Working Capital Days	53	54	61	73	54	53	68	68	48	58	51	41
ROCE %	16%	18%	21%	24%	25%	27%	26%	20%	19%	19%	24%	26%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	69.05%	69.05%	69.05%	69.04%	69.04%	69.04%	69.04%	69.04%	69.04%	69.04%	69.04%	69.04%
FIIs	0.62%	0.71%	1.04%	1.14%	1.24%	1.40%	1.21%	1.21%	1.07%	0.95%	0.91%	0.95%
DIIs	0.02%	0.02%	0.02%	0.08%	0.11%	0.19%	0.02%	0.02%	0.02%	0.02%	0.02%	0.05%
Public	30.31%	30.22%	29.90%	29.74%	29.59%	29.36%	29.73%	29.73%	29.87%	29.99%	30.03%	29.98%
No. of Shareholders	39,913	41,831	43,177	43,497	42,218	41,146	44,030	43,852	43,660	49,450	58,402	60,540

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	6.45	4.98	3.47	3.04	3.35
Diluted EPS (Rs.)	6.45	4.98	3.47	3.04	3.35
Cash EPS (Rs.)	7.38	5.86	4.34	3.85	4.18
Book Value[Excl.RevalReserv]/Share (Rs.)	35.52	29.96	25.69	22.67	19.62
Book Value[Incl.RevalReserv]/Share (Rs.)	35.52	29.96	25.69	22.67	19.62
Revenue From Operations / Share (Rs.)	47.15	43.31	33.89	26.72	27.32
PBDIT / Share (Rs.)	9.77	7.69	5.58	5.07	4.78
PBIT / Share (Rs.)	8.84	6.82	4.71	4.26	3.94
PBT / Share (Rs.)	8.66	6.70	4.71	4.16	4.21
Net Profit / Share (Rs.)	6.45	4.98	3.47	3.04	3.35
NP After MI And SOA / Share (Rs.)	6.45	4.98	3.47	3.04	3.35
PBDIT Margin (%)	20.71	17.75	16.45	18.97	17.50
PBIT Margin (%)	18.74	15.74	13.90	15.93	14.43
PBT Margin (%)	18.35	15.47	13.89	15.57	15.40
Net Profit Margin (%)	13.68	11.50	10.24	11.37	12.24
NP After MI And SOA Margin (%)	13.68	11.50	10.25	11.35	12.24
Return on Networth / Equity (%)	18.16	16.62	13.52	13.38	17.05
Return on Capital Employeed (%)	23.24	21.11	16.88	16.97	18.14
Return On Assets (%)	12.99	11.83	9.55	9.17	11.81
Total Debt / Equity (X)	0.02	0.02	0.03	0.03	0.04
Asset Turnover Ratio (%)	1.03	1.10	0.97	0.86	1.01
Current Ratio (X)	3.16	2.87	2.89	2.75	2.55
Quick Ratio (X)	2.64	2.30	2.14	2.24	1.82
Inventory Turnover Ratio (X)	4.22	4.11	3.81	3.03	3.25
Dividend Payout Ratio (NP) (%)	22.47	13.04	14.38	0.00	14.94
Dividend Payout Ratio (CP) (%)	19.63	11.09	11.51	0.00	11.95
Earning Retention Ratio (%)	77.53	86.96	85.62	0.00	85.06
Cash Earning Retention Ratio (%)	80.37	88.91	88.49	0.00	88.05
Interest Coverage Ratio (X)	53.77	93.63	50.36	53.33	41.57
Interest Coverage Ratio (Post Tax) (X)	36.51	62.04	31.37	32.99	26.78
Enterprise Value (Cr.)	3602.56	1964.44	1088.88	653.83	650.83
EV / Net Operating Revenue (X)	3.37	2.00	1.42	1.08	1.05
EV / EBITDA (X)	16.27	11.27	8.61	5.69	6.00
MarketCap / Net Operating Revenue (X)	3.74	2.27	1.73	1.47	1.24
Retention Ratios (%)	77.52	86.95	85.61	0.00	85.05
Price / BV (X)	4.97	3.29	2.28	1.73	1.73
Price / Net Operating Revenue (X)	3.74	2.27	1.73	1.47	1.24
EarningsYield	0.03	0.05	0.05	0.07	0.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 108.17

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 22, 2024, is Undervalued by 7.10% compared to the current share price 101.00

Intrinsic Value of as of December 22, 2024 is: 128.02

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 22, 2024, is Undervalued by 26.75% compared to the current share price 101.00

Last 5 Year EPS CAGR: 18.35%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 22.08%, which is a positive sign. The company has higher reserves (420.23 cr) compared to borrowings (37.92 cr), indicating strong financial stability. The company has shown consistent growth in sales (464.00 cr) and profit (98.31 cr) over the years.	The stock has a high average Working Capital Days of 56.83, which may not be favorable. The stock has a high average Cash Conversion Cycle of 98.83, which may not be favorable.

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: 13.68%
  - 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: 23.24% (Industry Average ROCE: 14.09%)
  - 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%: 18.16% (Industry Average ROE: 10.82%)
  - 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): 36.51
  - 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: 2.64
  - 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: 28.6 (Industry average Stock P/E: 58.01)
  - 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

Grauer & Weil (India) Ltd. is a Public Limited Listed company incorporated on 25/11/1957 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L74999MH1957PLC010975 and registration number is 010975. Currently Company is involved in the business activities of Manufacture of organic and inorganic chemical compounds. Company’s Total Operating Revenue is Rs. 766.56 Cr. and Equity Capital is Rs. 22.67 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Chemicals - Speciality - Others	Growel Corporate, Mumbai Maharashtra 400101	secretarial@growel.com http://www.growel.com

Management
Name	Position Held
Mr. Umeshkumar More	Chairman
Mr. Nirajkumar More	Managing Director
Mr. Rohitkumar More	Whole Time Director
Mr. Yogesh Samat	Whole Time Director
Mr. Suresh Pareek	Independent Director
Mr. Tarun Kumar Govil	Independent Director
Dr. Prerna Goradia	Independent Director
Mr. Ayush Agarwala	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹108.17, which is 7.10% higher than the current market price of ₹101.00. The stock has a market capitalization of 4,577 Cr. and recorded a high/low of 120/63.5 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹824 Cr and total liabilities of ₹1,204 Cr.

What is the Market Cap of ?

The Market Cap of is 4,577 Cr..

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

The current stock price of as on 21 December 2024 is 101.

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

In FY 2024-2025, the High / Low of stocks is 120/63.5.

What is the Stock P/E of ?

The Stock P/E of is 28.6.

What is the Book Value of ?

The Book Value of is 19.2.

What is the Dividend Yield of ?

The Dividend Yield of is 0.50 %.

What is the ROCE of ?

The ROCE of is 26.1 %.

What is the ROE of ?

The ROE of is 19.6 %.

What is the Face Value of ?

The Face Value of is 1.00.