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Last Updated on: 30 May, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Thirumalai Chemicals Ltd

Basic Stock Data

Last Updated: May 30, 2024, 6:15 am

Market Cap 2,630 Cr.
Current Price 257
High / Low290/177
Stock P/E
Book Value 112
Dividend Yield0.58 %
ROCE0.35 %
ROE3.32 %
Face Value 1.00
PEG Ratio0.00

Competitors of Thirumalai Chemicals Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Apar Industries Ltd 28,515 Cr. 7,0997,400/2,50134.2 6130.57 %51.1 %32.3 % 10.0
Rossari Biotech Ltd 3,837 Cr. 695904/65729.4 1900.07 %18.3 %13.3 % 2.00
Chembond Chemicals Ltd 776 Cr. 576640/30616.2 2550.52 %10.9 %7.89 % 5.00
Neogen Chemicals Ltd 3,827 Cr. 1,4511,859/1,14986.8 2900.21 %10.4 %7.06 % 10.0
Black Rose Industries Ltd 666 Cr. 130173/12031.4 28.40.41 %21.1 %15.6 % 1.00
Industry Average7,524.20 Cr1,990.2039.60275.280.36%22.36%15.23%5.60

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales318387397477541583621572508431523542492
Expenses244270295394425444525511479432485527498
Operating Profit7311710283116138976129-13815-6
OPM %23%30%26%17%21%24%16%11%6%-0%7%3%-1%
Other Income222433361111564
Interest56455667117101012
Depreciation13121315141513131416161615
Profit before tax571018768100120814714-1317-4-29
Tax %36%16%25%25%25%25%26%27%41%-0%37%-47%20%
Net Profit37856551759060348-1311-6-23
EPS in Rs3.578.276.364.947.378.805.863.350.81-1.251.04-0.59-2.24

Last Updated: May 11, 2024, 2:25 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 6:13 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,3691,2751,0709401,0281,3121,2611,0851,0861,9982,1322,083
Expenses1,2341,1921,0328428711,0221,0551,0078651,5571,9462,032
Operating Profit1358338981582902067822144118651
OPM %10%7%4%10%15%22%16%7%20%22%9%2%
Other Income53854712217123019
Interest524935231713121721203142
Depreciation232318253631364450575663
Profit before tax6415-75510925316938157375129-35
Tax %32%20%-102%41%35%33%33%39%25%25%31%-12%
Net Profit4412-1432711701142311828190-39
EPS in Rs4.281.16-1.343.146.9016.6411.092.2611.4927.478.77-3.79
Dividend Payout %18%0%-30%51%27%12%18%0%19%9%17%-26%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-72.73%-216.67%328.57%121.88%139.44%-32.94%-79.82%413.04%138.14%-67.97%-143.33%
Change in YoY Net Profit Growth (%)0.00%-143.94%545.24%-206.70%17.56%-172.38%-46.88%492.87%-274.91%-206.11%-75.36%

Growth

Compounded Sales Growth
10 Years:5%
5 Years:11%
3 Years:24%
TTM:-2%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-143%
Stock Price CAGR
10 Years:40%
5 Years:25%
3 Years:25%
1 Year:41%
Return on Equity
10 Years:13%
5 Years:10%
3 Years:10%
Last Year:-3%

Last Updated: May 25, 2024, 8:23 am

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital10101010101010101010101010
Reserves1441892051832083885636586287931,0751,1821,203
Borrowings276305222142916250103197183165514987
Other Liabilities326289321212211327202370365358612654676
Total Liabilities7567937575475207868251,1411,2001,3431,8622,3602,875
Fixed Assets257249230243256317310383550513596671670
CWIP31187189441598212664406850
Investments555557710415049136180132342
Other Assets4915385032912413833674495195691,0221,1501,014
Total Assets7567937575475207868251,1411,2001,3431,8622,3602,875

Reserves and Borrowings Chart

Thirumalai Chemicals Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -14191331541261088123414022140254
Cash from Investing Activity -13-0-15-19-32-44-54-221-36-159-134-335
Cash from Financing Activity 38-26-116-142-93-52-161646-38-70206
Net Cash Flow11-73-8012102915024198-75

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-170.00-139.00-104.007.0096.00240.00103.00-119.0038.00276.00-328.0050.00

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 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days897566525049333330292917
Inventory Days706774423882598469747476
Days Payable1178359389213953119123129141118
Cash Conversion Cycle42608256-3-839-2-24-26-39-25
Working Capital Days3553421912374-5-11-18-10
ROCE %15%25%14%7%24%33%49%26%7%20%35%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters41.90%41.90%41.90%41.98%41.98%41.98%41.98%42.01%42.07%42.16%42.17%41.98%
FIIs0.27%0.34%2.06%1.89%1.29%2.67%2.50%1.99%2.14%1.81%1.86%1.88%
DIIs0.01%0.02%0.02%0.02%0.02%0.02%0.01%0.01%0.01%0.10%0.16%0.17%
Government0.70%0.70%0.70%0.70%0.70%0.70%0.00%0.00%0.00%0.00%0.00%0.00%
Public57.13%57.05%55.33%55.42%56.01%54.64%55.50%55.99%55.78%55.93%55.81%55.98%
No. of Shareholders53,56863,16670,59679,55681,61878,18682,26181,99780,13778,53077,68576,903

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Motilal Oswal Nifty Microcap 250 Index Fund65,7600.231.44

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)8.7727.4611.492.2611.09
Diluted EPS (Rs.)8.7727.4611.492.2611.09
Cash EPS (Rs.)14.2132.9916.336.5714.64
Book Value[Excl.RevalReserv]/Share (Rs.)116.40105.9678.4162.3265.22
Book Value[Incl.RevalReserv]/Share (Rs.)116.40105.9678.4162.3265.22
Revenue From Operations / Share (Rs.)208.23195.14106.03105.94123.15
PBDIT / Share (Rs.)21.1344.1822.229.6721.23
PBIT / Share (Rs.)15.6938.6517.395.3717.68
PBT / Share (Rs.)12.6436.6615.343.7316.49
Net Profit / Share (Rs.)8.7727.4611.492.2611.09
NP After MI And SOA / Share (Rs.)8.7727.4611.492.2611.09
PBDIT Margin (%)10.1422.6320.959.1217.23
PBIT Margin (%)7.5319.8016.395.0614.35
PBT Margin (%)6.0618.7814.473.5113.39
Net Profit Margin (%)4.2114.0710.832.139.00
NP After MI And SOA Margin (%)4.2114.0710.832.139.00
Return on Networth / Equity (%)7.5325.9114.653.6317.00
Return on Capital Employeed (%)10.7430.2917.086.1122.27
Return On Assets (%)3.8015.108.761.939.95
Long Term Debt / Equity (X)0.120.120.190.280.11
Total Debt / Equity (X)0.370.140.190.280.11
Asset Turnover Ratio (%)0.991.020.730.811.14
Current Ratio (X)1.221.861.901.661.40
Quick Ratio (X)0.841.421.471.170.81
Inventory Turnover Ratio (X)5.125.683.913.844.50
Dividend Payout Ratio (NP) (%)28.498.010.0088.3918.03
Dividend Payout Ratio (CP) (%)17.596.660.0030.4513.66
Earning Retention Ratio (%)71.5191.990.0011.6181.97
Cash Earning Retention Ratio (%)82.4193.340.0069.5586.34
Interest Coverage Ratio (X)6.9222.2110.885.8917.86
Interest Coverage Ratio (Post Tax) (X)3.8714.816.632.3810.33
Enterprise Value (Cr.)1656.342334.91725.01331.37929.80
EV / Net Operating Revenue (X)0.771.170.660.300.73
EV / EBITDA (X)7.665.163.193.354.28
MarketCap / Net Operating Revenue (X)0.821.360.800.330.72
Retention Ratios (%)71.5091.980.0011.6081.96
Price / BV (X)1.482.511.090.561.36
Price / Net Operating Revenue (X)0.821.360.800.330.72
EarningsYield0.050.100.130.060.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: ₹56.10

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.

Overvalued: 78.17% compared to the current price ₹257

Default values used*: Deafault value of 15 for Stock P/E is used

Intrinsic Value: ₹37.96

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.

Overvalued: 85.23% compared to the current price ₹257

Default values used*: Deafault value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: -32.34%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 22.17%, which is a positive sign.
  2. The stock has a low average Working Capital Days of 12.42, which is a positive sign.
  3. The company has higher reserves (600.67 cr) compared to borrowings (273.83 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (79.42 cr) and profit (110.17 cr) over the years.
  1. The stock has a high average Cash Conversion Cycle of 12.67, 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 Thirumalai Chemicals Ltd:
    1. Net Profit Margin: 4.21%
      • 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: 10.74% (Industry Average ROCE: 22.36%)
      • 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%: 7.53% (Industry Average ROE: 15.23%)
      • 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): 3.87
      • 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: 0.84
      • 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: (Industry average Stock P/E: 39.6)
      • 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: 0.37
      • 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

Thirumalai Chemicals Ltd. is a Public Limited Listed company incorporated on 27/11/1972 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L24100MH1972PLC016149 and registration number is 016149. Currently Company is involved in the business activities of Manufacture of organic and inorganic chemical compounds. Company’s Total Operating Revenue is Rs. 1438.09 Cr. and Equity Capital is Rs. 10.24 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Chemicals - Speciality - OthersThirumalai House, Mumbai Maharashtra 400022thirumalai@thirumalaichemicals.com
http://www.thirumalaichemicals.com
Management
NamePosition Held
Mr. R ParthasarathyChairman & Managing Director
Mrs. Ramya BharathramManaging Director & CFO
Mr. P Mohana Chandran NairWhole Time Director
Mr. Arun AlagappanDirector
Mrs. Bhama KrishnamurthyDirector
Mr. Raj KatariaDirector
Mr. R RavishankarDirector
Mr. Dhruv MoondhraDirector
Mr. Arun RamanathanDirector
Mr. R SampathDirector
Mr. Rajeev M PandiaDirector

FAQ

What is the latest fair value of Thirumalai Chemicals Ltd?

The latest fair value of Thirumalai Chemicals Ltd is ₹56.10.

What is the Market Cap of Thirumalai Chemicals Ltd?

The Market Cap of Thirumalai Chemicals Ltd is 2,630 Cr..

What is the current Stock Price of Thirumalai Chemicals Ltd as on 30 May 2024?

The current stock price of Thirumalai Chemicals Ltd as on 30 May 2024 is ₹257.

What is the High / Low of Thirumalai Chemicals Ltd stocks in FY 2024?

In FY 2024, the High / Low of Thirumalai Chemicals Ltd stocks is 290/177.

What is the Stock P/E of Thirumalai Chemicals Ltd?

The Stock P/E of Thirumalai Chemicals Ltd is .

What is the Book Value of Thirumalai Chemicals Ltd?

The Book Value of Thirumalai Chemicals Ltd is 112.

What is the Dividend Yield of Thirumalai Chemicals Ltd?

The Dividend Yield of Thirumalai Chemicals Ltd is 0.58 %.

What is the ROCE of Thirumalai Chemicals Ltd?

The ROCE of Thirumalai Chemicals Ltd is 0.35 %.

What is the ROE of Thirumalai Chemicals Ltd?

The ROE of Thirumalai Chemicals Ltd is 3.32 %.

What is the Face Value of Thirumalai Chemicals Ltd?

The Face Value of Thirumalai Chemicals 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 Thirumalai 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