Fundamental Analysis of Himadri Speciality Chemical Ltd

About the Company - Himadri Speciality Chemical Ltd

Himadri Speciality Chemical Ltd. is a Public Limited Listed company incorporated on 28/07/1987 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L27106WB1987PLC042756 and registration number is 042756. Currently Company is involved in the business activities of Manufacture of other non-metallic mineral products (includes asbestos yarn and fabric, and articles of asbestos yarn and fabric such as clothing, headgear, footwear, cord, string, paper o felt; friction material with a basis of asbestos or other mineral substances or of cellulose including unmounted articles such as friction material; mineral insulating material (slag wool, rockwool and similar mineral wools, exfoliated vermiculite, expanded clays and similar insulating material); products of glass wool for heat-insulating; articles of asphalt or of similar material (e.g. coal tar pitch), gypsum and articles of other mineral substances). Company’s Total Operating Revenue is Rs. 2791.31 Cr. and Equity Capital is Rs. 41.90 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Chemicals - Speciality - Others	Fortuna Tower, 23-A, Netaji Subhas Road, Kolkata West Bengal 700001	info@himadri.com http://www.himadri.com

Management
Name	Position Held
Mr. Anurag Choudhary	Chairman & M.D & CEO
Mr. Shyam Sundar Choudhary	Executive Director
Ms. Rita Bhattacharya	Independent Director
Mr. Santimoy Dey	Independent Director
Mr. Girish Paman Vanvari	Independent Director
Mr. Gopal Ajay Malpani	Independent Director

Basic Stock Data of Himadri Speciality Chemical Ltd

Last Updated: July 26, 2024, 10:36 pm

Market Cap	20,879 Cr.
Current Price	423
High / Low	443/133
Stock P/E	46.7
Book Value	61.8
Dividend Yield	0.12 %
ROCE	19.1 %
ROE	15.7 %
Face Value	1.00
PEG Ratio	5.18

Data Source: screener.in

Himadri Speciality Chemical Ltd Quarterly Results

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	467	566	540	645	772	834	1,047	1,059	1,037	1,029	951	1,005	1,053
Expenses	426	525	504	616	728	790	975	962	932	903	817	847	879
Operating Profit	41	40	36	30	44	44	72	97	105	126	134	158	174
OPM %	9%	7%	7%	5%	6%	5%	7%	9%	10%	12%	14%	16%	17%
Other Income	4	3	1	3	4	-23	2	-22	8	11	10	10	10
Interest	7	7	8	8	9	11	13	20	20	13	13	16	21
Depreciation	12	12	12	12	12	13	13	13	13	12	12	12	13
Profit before tax	26	24	17	12	27	-3	48	42	79	111	119	139	150
Tax %	38%	6%	17%	24%	11%	-163%	20%	15%	18%	31%	28%	28%	28%
Net Profit	16	23	14	9	24	-9	39	36	65	76	86	101	109
EPS in Rs	0.39	0.55	0.35	0.22	0.58	-0.17	0.92	0.86	1.55	1.76	1.96	2.29	2.47

Last Updated: July 16, 2024, 2:37 pm

Himadri Speciality Chemical Ltd Quarterly Chart

Himadri Speciality Chemical Ltd Profit & Loss

Last Updated: July 10, 2024, 5:50 pm

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	1,144	1,353	1,395	1,437	1,182	1,341	2,022	2,422	1,806	1,679	2,791	4,172	4,022
Expenses	965	1,247	1,307	1,313	1,036	1,107	1,569	1,863	1,525	1,549	2,635	3,773	3,500
Operating Profit	179	106	88	124	146	233	452	560	280	131	156	399	522
OPM %	16%	8%	6%	9%	12%	17%	22%	23%	16%	8%	6%	10%	13%
Other Income	18	31	13	13	9	6	12	8	8	14	-17	-2	38
Interest	76	80	118	103	111	82	70	71	55	33	36	66	63
Depreciation	46	55	58	59	67	33	33	34	39	47	50	51	50
Profit before tax	75	2	-75	-24	-23	125	361	462	194	65	53	280	448
Tax %	24%	-312%	22%	49%	19%	34%	31%	30%	-6%	27%	27%	23%
Net Profit	57	9	-58	-13	-19	82	248	324	205	47	39	216	328
EPS in Rs	1.48	0.24	-1.48	-0.32	-0.44	1.98	5.91	7.75	4.91	1.13	0.98	4.99	7.56
Dividend Payout %	7%	41%	-7%	0%	-11%	5%	2%	2%	3%	13%	20%	5%

Himadri Speciality Chemical Ltd Profit & Loss Yearly Chart

Himadri Speciality Chemical Ltd Growth

Compounded Sales Growth
10 Years:	12%
5 Years:	12%
3 Years:	36%
TTM:	9%

Compounded Profit Growth
10 Years:	25%
5 Years:	5%
3 Years:	106%
TTM:	55%

Stock Price CAGR
10 Years:	31%
5 Years:	38%
3 Years:	100%
1 Year:	196%

Return on Equity
10 Years:	10%
5 Years:	10%
3 Years:	11%
Last Year:	16%

Last Updated: July 25, 2024, 5:12 am

Himadri Speciality Chemical Ltd Balance Sheet

Last Updated: July 10, 2024, 5:50 pm

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	39	39	39	39	42	42	42	42	42	42	42	43	44
Reserves	855	848	757	750	837	988	1,373	1,590	1,692	1,751	1,826	2,134	2,500
Borrowings	1,098	1,275	1,362	1,124	887	774	660	476	505	729	587	842	1,035
Other Liabilities	237	256	339	329	296	308	341	680	323	269	999	659	658
Total Liabilities	2,229	2,418	2,497	2,242	2,062	2,112	2,416	2,788	2,562	2,791	3,454	3,678	4,236
Fixed Assets	843	926	1,221	1,228	1,180	1,174	1,178	1,170	1,475	1,468	1,546	1,515	1,538
CWIP	272	319	59	14	31	13	22	133	158	160	77	94	66
Investments	226	112	168	23	53	87	273	179	47	66	113	132	272
Other Assets	887	1,061	1,048	977	798	838	943	1,305	882	1,098	1,718	1,938	2,359
Total Assets	2,229	2,418	2,497	2,242	2,062	2,112	2,416	2,788	2,562	2,791	3,454	3,678	4,236

Himadri Speciality Chemical Ltd Reserves and Borrowings Chart

Himadri Speciality Chemical Ltd 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	-11	149	212	296	205	258	476	283	-40	331	54	405
Cash from Investing Activity	-6	-99	128	-6	10	-50	-224	-214	-114	-28	-397	-405
Cash from Financing Activity	69	-109	-348	-278	-233	-200	-257	-41	165	-182	377	7
Net Cash Flow	51	-58	-7	12	-18	8	-6	28	11	121	34	7

Himadri Speciality Chemical Ltd 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	66	92	82	63	60	49	55	61	100	66	44	57
Inventory Days	138	134	122	138	164	112	124	121	100	125	61	85
Days Payable	16	36	36	50	74	39	100	68	45	127	39	69
Cash Conversion Cycle	188	191	168	151	150	122	79	113	155	65	66	73
Working Capital Days	190	145	138	105	117	95	76	73	153	63	70	83
ROCE %	3%	2%	3%	5%	11%	22%	25%	11%	4%	5%	14%	19%

Himadri Speciality Chemical Ltd Financial Efficiency Indicators Chart

Himadri Speciality Chemical Ltd Share Holding Pattern

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoters	45.44%	45.43%	45.43%	45.43%	45.43%	45.43%	45.39%	45.39%	45.38%	45.61%	44.96%	44.86%
FIIs	0.72%	0.64%	0.71%	0.84%	1.21%	1.66%	1.61%	1.97%	2.38%	2.36%	2.96%	5.12%
DIIs	0.24%	0.01%	0.02%	0.01%	0.36%	0.00%	0.00%	0.01%	0.50%	0.48%	0.53%	0.50%
Public	53.60%	53.92%	53.84%	53.73%	53.01%	52.91%	53.00%	52.64%	51.74%	51.54%	51.54%	49.53%
No. of Shareholders	1,51,488	2,41,043	2,67,135	3,10,354	3,38,605	3,42,971	3,49,585	3,08,166	2,94,234	2,80,985	3,06,346	4,40,415

Himadri Speciality Chemical Ltd Shareholding Pattern Chart

No. of Himadri Speciality Chemical Ltd Shareholders

Himadri Speciality Chemical Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Motilal Oswal Nifty Microcap 250 Index Fund	230,983	1.2	5.51	230,983	2024-07-23	0%
Groww Nifty Total Market Index Fund	539	0.04	0.01	230,983	2024-07-23	-99.77%

Himadri Speciality Chemical Ltd ROCE Trend

Himadri Speciality Chemical Ltd EPS Trend

Himadri Speciality Chemical Ltd 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.)	9.16	5.13	0.98	1.13	4.91
Diluted EPS (Rs.)	9.16	5.13	0.98	1.13	4.91
Cash EPS (Rs.)	9.35	6.16	2.11	2.25	5.84
Book Value[Excl.RevalReserv]/Share (Rs.)	61.77	52.64	44.51	42.78	41.40
Book Value[Incl.RevalReserv]/Share (Rs.)	61.77	52.64	44.51	42.78	41.40
Revenue From Operations / Share (Rs.)	84.96	96.41	66.62	40.09	43.12
PBDIT / Share (Rs.)	13.96	9.87	3.90	3.46	6.88
PBIT / Share (Rs.)	12.95	8.70	2.71	2.34	5.95
PBT / Share (Rs.)	11.65	6.48	1.28	1.54	4.64
Net Profit / Share (Rs.)	8.34	4.99	0.93	1.13	4.90
NP After MI And SOA / Share (Rs.)	8.34	4.99	0.97	1.13	4.91
PBDIT Margin (%)	16.43	10.23	5.84	8.63	15.96
PBIT Margin (%)	15.23	9.02	4.07	5.83	13.79
PBT Margin (%)	13.71	6.71	1.91	3.84	10.75
Net Profit Margin (%)	9.81	5.17	1.39	2.81	11.37
NP After MI And SOA Margin (%)	9.81	5.17	1.46	2.82	11.37
Return on Networth / Equity (%)	13.48	9.47	2.19	2.64	11.84
Return on Capital Employeed (%)	19.64	15.48	5.57	5.02	13.68
Return On Assets (%)	9.23	5.87	1.18	1.70	8.01
Long Term Debt / Equity (X)	0.01	0.02	0.04	0.04	0.01
Total Debt / Equity (X)	0.19	0.36	0.30	0.37	0.19
Asset Turnover Ratio (%)	1.03	1.17	0.90	0.63	0.68
Current Ratio (X)	1.92	1.51	1.18	1.25	1.13
Quick Ratio (X)	1.33	1.07	0.63	0.84	0.58
Inventory Turnover Ratio (X)	4.92	4.99	4.30	3.13	2.76
Dividend Payout Ratio (NP) (%)	2.63	3.88	15.34	13.23	0.00
Dividend Payout Ratio (CP) (%)	2.34	3.14	6.94	6.65	0.00
Earning Retention Ratio (%)	97.37	96.12	84.66	86.77	0.00
Cash Earning Retention Ratio (%)	97.66	96.86	93.06	93.35	0.00
Interest Coverage Ratio (X)	10.77	6.47	4.58	4.34	5.25
Interest Coverage Ratio (Post Tax) (X)	7.43	4.72	2.79	2.41	4.74
Enterprise Value (Cr.)	14725.34	3988.71	3425.68	2287.01	1527.52
EV / Net Operating Revenue (X)	3.52	0.95	1.23	1.36	0.84
EV / EBITDA (X)	21.42	9.34	20.98	15.78	5.30
MarketCap / Net Operating Revenue (X)	3.55	0.90	1.12	1.04	0.68
Retention Ratios (%)	97.36	96.11	84.65	86.76	0.00
Price / BV (X)	4.88	1.66	1.67	0.97	0.71
Price / Net Operating Revenue (X)	3.55	0.90	1.12	1.04	0.68
EarningsYield	0.02	0.05	0.01	0.02	0.16

Himadri Speciality Chemical Ltd Profitability Ratios (%)

Himadri Speciality Chemical Ltd Liquidity Ratios

Himadri Speciality Chemical Ltd Liquidity Ratios (%)

Himadri Speciality Chemical Ltd Interest Coverage Ratios (%)

Himadri Speciality Chemical Ltd Valuation Ratios

Fair Value

Fair Value: 453.66

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: 7.25% compared to the current price 423

Intrinsic Value: 494.55

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: 16.92% compared to the current price 423

Last 5 Year EPS CAGR: 9.02%

*Investments are subject to market risks

Strength and Weakness of Himadri Speciality Chemical Ltd Stock

Strength	Weakness
The company has higher reserves (1,461.83 cr) compared to borrowings (818.83 cr), indicating strong financial stability. The company has shown consistent growth in sales (1.69 cr) and profit (149.46 cr) over the years.	The stock has a low average ROCE of 10.33%, which may not be favorable. The stock has a high average Working Capital Days of 109.00, which may not be favorable. The stock has a high average Cash Conversion Cycle of 126.75, which may not be favorable.

FAQ

What is the latest fair value of Himadri Speciality Chemical Ltd?

The latest fair value of Himadri Speciality Chemical Ltd is ₹453.66.

What is the Market Cap of Himadri Speciality Chemical Ltd?

The Market Cap of Himadri Speciality Chemical Ltd is 20,879 Cr..

What is the current Stock Price of Himadri Speciality Chemical Ltd as on 26 July 2024?

The current stock price of Himadri Speciality Chemical Ltd as on 26 July 2024 is 423.

What is the High / Low of Himadri Speciality Chemical Ltd stocks in FY 2024?

In FY 2024, the High / Low of Himadri Speciality Chemical Ltd stocks is 443/133.

What is the Stock P/E of Himadri Speciality Chemical Ltd?

The Stock P/E of Himadri Speciality Chemical Ltd is 46.7.

What is the Book Value of Himadri Speciality Chemical Ltd?

The Book Value of Himadri Speciality Chemical Ltd is 61.8.

What is the Dividend Yield of Himadri Speciality Chemical Ltd?

The Dividend Yield of Himadri Speciality Chemical Ltd is 0.12 %.

What is the ROCE of Himadri Speciality Chemical Ltd?

The ROCE of Himadri Speciality Chemical Ltd is 19.1 %.

What is the ROE of Himadri Speciality Chemical Ltd?

The ROE of Himadri Speciality Chemical Ltd is 15.7 %.

What is the Face Value of Himadri Speciality Chemical Ltd?

The Face Value of Himadri Speciality Chemical Ltd is 1.00.