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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Gujarat State Fertilizer & Chemicals Ltd

About the Company - Gujarat State Fertilizer & Chemicals Ltd

Gujarat State Fertilizer & Chemicals Ltd. is a Public Limited Listed company incorporated on 15/02/1962 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L99999GJ1962PLC001121 and registration number is 001121. Currently Company is involved in the business activities of Manufacture of basic chemicals, fertilizer and nitrogen compounds, plastics and synthetic rubber in primary forms. Company’s Total Operating Revenue is Rs. 8995.63 Cr. and Equity Capital is Rs. 79.70 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
FertilisersFertilizernager, Vadodra District Gujarat 391750ho@gsfcltd.com
http://www.gsfclimited.com
Management
NamePosition Held
Mr. Raj KumarChairman
Mr. Mukesh PuriManaging Director
Mr. Jagdish Prasad GuptaDirector
Mrs. Mamta VermaDirector
Prof. Ravindra DholakiaDirector
Mr. Tapan RayDirector
Mrs. Gauri KumarDirector
Dr. Sudhir Kumar JainDirector

Gujarat State Fertilizer & Chemicals Ltd. Share Price Update

Share PriceValue
Today₹254.65
Previous Day₹257.00

Basic Stock Data of Gujarat State Fertilizer & Chemicals Ltd

Market Cap 9,209 Cr.
Current Price 231
High / Low322/116
Stock P/E12.4
Book Value 307
Dividend Yield4.33 %
ROCE13.4 %
ROE10.9 %
Face Value 2.00

Data Source: screener.in

Competitors of Gujarat State Fertilizer & Chemicals Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Aries Agro Ltd 397 Cr. 306318/14426.0 2000.32 %14.2 %6.83 % 10.0
Sikko Industries Ltd 141 Cr. 83.8118/54.646.9 14.20.18 %16.3 %12.8 % 10.0
Nagarjuna Fertilizers & Chemicals Ltd 803 Cr. 13.415.8/7.81 50.20.00 %56.6 %% 1.00
Zuari Agro Chemicals Ltd 958 Cr. 228260/1163.11 3790.00 %10.2 %12.8 % 10.0
Southern Petrochemicals Industries Corporation Ltd (SPIC) 1,909 Cr. 93.8108/52.011.7 52.41.60 %29.6 %35.9 % 10.0
Industry Average460 Cr14517.54139.160.42%25.38%13.67%8.2

Gujarat State Fertilizer & Chemicals Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales2,0722,0861,7281,8732,5112,5672,0473,0612,4053,4212,4102,0323,017
Expenses1,8661,9691,5931,6682,1872,2071,6232,5252,0113,0762,0681,8932,802
Operating Profit205117135204324360425536394345342138215
OPM %10%6%8%11%13%14%21%18%16%10%14%7%7%
Other Income673373206530663072182649195
Interest11662323336322
Depreciation44444444454544454646454546
Profit before tax216100158178341343443519418310321140362
Tax %21%17%16%22%34%32%34%31%31%-31%25%24%21%
Net Profit17183132138226235292356289408240106285
EPS in Rs4.292.083.313.465.685.897.338.937.2610.236.042.677.15

Gujarat State Fertilizer & Chemicals Ltd Quarterly Chart

Gujarat State Fertilizer & Chemicals Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales5,2956,2365,3865,3116,1085,2656,2718,5757,6217,5008,99811,29810,880
Expenses4,1605,4374,8204,7205,4534,7785,7047,8277,3146,9507,6859,6809,840
Operating Profit1,1357995665916564875677483075491,3121,6181,040
OPM %21%13%10%11%11%9%9%9%4%7%15%14%10%
Other Income128137120102655794105105183180146288
Interest203645183165516111543101513
Depreciation12913214510197103119126170176178182181
Profit before tax1,1137684955745933754916651275131,3051,5681,134
Tax %32%33%31%30%31%-12%3%26%22%19%32%18%
Net Profit758518342401409420476494994188911,2931,039
EPS in Rs19.0113.008.5910.0510.2710.5311.9412.392.4810.4822.3632.4526.09
Dividend Payout %8%15%23%22%21%21%18%18%48%21%11%31%

Gujarat State Fertilizer & Chemicals Ltd Profit & Loss Yearly Chart

Gujarat State Fertilizer & Chemicals Ltd Growth

Compounded Sales Growth
10 Years:6%
5 Years:13%
3 Years:14%
TTM:-14%
Compounded Profit Growth
10 Years:10%
5 Years:22%
3 Years:133%
TTM:-45%
Stock Price CAGR
10 Years:17%
5 Years:20%
3 Years:44%
1 Year:81%
Return on Equity
10 Years:7%
5 Years:7%
3 Years:9%
Last Year:11%

Gujarat State Fertilizer & Chemicals Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital80808080808080808080808080
Reserves3,4373,8624,1114,3855,4266,4957,1827,1886,7189,06411,58911,88412,158
Borrowings6171,5057897441,2888051,0931,0691,55937622
Other Liabilities1,4331,4711,5661,2441,5431,6481,8852,0151,6671,8382,3011,8072,281
Total Liabilities5,5666,9186,5456,4528,3379,02810,24010,35110,02411,01913,97513,77314,520
Fixed Assets1,4251,3652,0161,9581,6532,0192,1052,8132,8952,7982,6742,5742,501
CWIP346684185260403272761187107117157199263
Investments4336728278581,6942,4792,7402,3152,0234,2846,2655,2795,597
Other Assets3,3634,1963,5173,3774,5874,2594,6335,0364,9993,8204,8785,7216,160
Total Assets5,5666,9186,5456,4528,3379,02810,24010,35110,02411,01913,97513,77314,520

Gujarat State Fertilizer & Chemicals Ltd Reserves and Borrowings Chart

Gujarat State Fertilizer & Chemicals Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 540-8871,573258-242907361507-241,769252929
Cash from Investing Activity -396-637-412-134-170-238-488-279-266-24-19-40
Cash from Financing Activity 140786-938-155410-656133-242267-1,560-125-114
Net Cash Flow285-737223-31-2137-13-23185108775

Gujarat State Fertilizer & Chemicals Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days9917013413319755564043231516
Inventory Days806277705682749090699062
Days Payable614865395470756329375331
Cash Conversion Cycle118184147164199675568104555147
Working Capital Days8216111513117417815412516711011692
ROCE %32%17%10%12%10%6%7%9%3%6%13%13%

Gujarat State Fertilizer & Chemicals Ltd Financial Efficiency Indicators Chart

Gujarat State Fertilizer & Chemicals Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%37.84%
FIIs18.50%18.49%20.49%19.43%20.95%23.79%26.38%25.05%22.41%21.36%20.54%20.69%
DIIs11.47%9.60%9.42%7.86%7.83%6.80%6.17%4.50%2.49%2.14%2.57%3.16%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%5.65%5.65%5.65%5.65%
Public32.19%34.07%32.24%34.87%33.37%31.57%29.61%32.61%31.60%33.01%33.41%32.65%
No. of Shareholders1,33,7791,38,0201,54,4981,56,5031,48,7931,47,2631,53,2781,70,2691,85,3321,87,5701,80,8531,92,096

Gujarat State Fertilizer & Chemicals Ltd Shareholding Pattern Chart

No. of Gujarat State Fertilizer & Chemicals Ltd Shareholders

Gujarat State Fertilizer & Chemicals Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Mahindra Manulife Small Cap Fund18050001.3734.87
Mahindra Manulife Multi Cap Fund9000000.7117.39
Mahindra Manulife Focused Fund8450001.7416.33
Mahindra Manulife Aggressive Hybrid Fund4335000.958.38
Mahindra Manulife Business Cycle Fund2550000.954.93
Nippon India Nifty Smallcap 250 Index Fund1418330.332.74
Motilal Oswal Nifty Smallcap 250 Index Fund866660.331.67
SBI Nifty Smallcap 250 Index Fund677100.331.31
ICICI Prudential Nifty Smallcap 250 Index Fund357350.330.69
UTI Nifty 500 Value 50 Index Fund185760.420.36

Gujarat State Fertilizer & Chemicals Ltd ROCE Trend

Gujarat State Fertilizer & Chemicals Ltd EPS Trend

Gujarat State Fertilizer & Chemicals Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)31.7722.5511.302.7512.38
Diluted EPS (Rs.)31.7722.5511.302.7512.38
Cash EPS (Rs.)36.2627.0015.736.9715.54
Book Value[Excl.RevalReserv]/Share (Rs.)302.19295.47231.93172.22183.75
Book Value[Incl.RevalReserv]/Share (Rs.)302.19295.47231.93172.22183.75
Revenue From Operations / Share (Rs.)285.30227.93191.58195.69213.08
PBDIT / Share (Rs.)43.5837.7018.9310.6321.49
PBIT / Share (Rs.)39.0233.2114.496.3418.32
PBT / Share (Rs.)38.6432.9713.413.4616.79
Net Profit / Share (Rs.)31.6922.5111.282.6812.37
NP After MI And SOA / Share (Rs.)31.7722.5511.302.7512.38
PBDIT Margin (%)15.2716.539.885.4310.08
PBIT Margin (%)13.6714.577.563.248.59
PBT Margin (%)13.5414.466.991.767.87
Net Profit Margin (%)11.109.875.881.365.80
NP After MI And SOA Margin (%)11.139.895.891.405.80
Return on Networth / Equity (%)10.517.634.871.596.73
Return on Capital Employeed (%)12.1110.375.693.259.15
Return On Assets (%)9.106.364.041.084.71
Long Term Debt / Equity (X)0.000.000.000.010.02
Total Debt / Equity (X)0.000.000.000.210.13
Asset Turnover Ratio (%)0.810.710.710.740.82
Current Ratio (X)4.973.333.501.891.85
Quick Ratio (X)3.752.322.491.311.19
Inventory Turnover Ratio (X)4.314.253.462.474.26
Dividend Payout Ratio (NP) (%)7.869.7510.6279.9917.77
Dividend Payout Ratio (CP) (%)6.888.137.6231.2414.15
Earning Retention Ratio (%)92.1490.2589.3820.0182.23
Cash Earning Retention Ratio (%)93.1291.8792.3868.7685.85
Interest Coverage Ratio (X)115.58153.7317.553.6914.03
Interest Coverage Ratio (Post Tax) (X)85.0592.7911.451.939.08
Enterprise Value (Cr.)3303.696123.583028.402917.805102.36
EV / Net Operating Revenue (X)0.290.670.390.370.60
EV / EBITDA (X)1.904.084.016.895.96
MarketCap / Net Operating Revenue (X)0.410.710.420.180.48
Retention Ratios (%)92.1390.2489.3720.0082.22
Price / BV (X)0.390.540.350.210.56
Price / Net Operating Revenue (X)0.410.710.420.180.48
EarningsYield0.260.130.130.070.11

Gujarat State Fertilizer & Chemicals Ltd Profitability Ratios (%)

Gujarat State Fertilizer & Chemicals Ltd Liquidity Ratios

Gujarat State Fertilizer & Chemicals Ltd Liquidity Ratios (%)

Gujarat State Fertilizer & Chemicals Ltd Interest Coverage Ratios (%)

Gujarat State Fertilizer & Chemicals Ltd Valuation Ratios

Fair Value of Gujarat State Fertilizer & Chemicals Ltd Stock

Fair Value: ₹432.91

The stock is undervalued by 87.41% compared to the current price ₹231

*Investments are subject to market risks

Strength and Weakness of Gujarat State Fertilizer & Chemicals Ltd Stock

StrengthWeakness
  1. The company has higher reserves (7,192.23 cr) compared to borrowings (732.00 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (6.85 cr) and profit (354.23 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 22.28 and average Dividend Yield of 9.53%.
  2. The stock has a low average ROCE of 11.50%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 133.75, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 104.92, which may not be favorable.

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 Gujarat State Fertilizer & Chemicals 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