Vidhi Specialty Food Ingredients Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:37 am

Market Cap	2,715 Cr.
Current Price	544
High / Low	570/382
Stock P/E	71.4
Book Value	58.0
Dividend Yield	0.37 %
ROCE	17.3 %
ROE	13.8 %
Face Value	1.00
PEG Ratio	0.00

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Dynamic Industries Ltd	32.3 Cr.	107	124/64.0	34.0	157	0.47 %	0.04 %	0.49 %	10.0
Daikaffil Chemicals India Ltd	144 Cr.	240	261/72.0		16.1	0.00 %	17.3 %	17.4 %	10.0
Amal Ltd	554 Cr.	448	489/296	64.3	61.4	0.00 %	6.58 %	2.42 %	10.0
Vidhi Specialty Food Ingredients Ltd	2,715 Cr.	544	570/382	71.4	58.0	0.37 %	17.3 %	13.8 %	1.00
Ushanti Colour Chem Ltd	63.0 Cr.	56.0	70.2/49.8		38.6	0.00 %	0.21 %	5.88 %	10.0
Industry Average	1,410.00 Cr	352.26		80.49	162.22	0.23%	8.57%	7.14%	8.24

All Competitor Stocks of

Quarterly Result

Month	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Sales	98	103	128	161	145	121	107	86	89	80	80	63	81
Expenses	81	85	106	136	126	105	93	74	77	67	66	49	65
Operating Profit	17	19	21	25	19	16	15	13	12	13	14	14	16
OPM %	17%	18%	17%	16%	13%	13%	14%	15%	14%	16%	17%	23%	20%
Other Income	1	0	0	0	1	0	0	0	1	1	0	0	0
Interest	0	0	1	2	1	1	1	1	1	1	1	1	0
Depreciation	1	1	1	1	1	1	1	1	1	1	1	2	2
Profit before tax	16	18	20	23	18	15	13	11	11	12	12	12	14
Tax %	26%	25%	28%	26%	24%	26%	21%	30%	20%	27%	22%	27%	25%
Net Profit	12	13	14	17	14	11	10	8	9	8	9	9	11
EPS in Rs	2.40	2.69	2.90	3.41	2.77	2.20	2.06	1.54	1.77	1.68	1.82	1.71	2.13

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 3:16 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	120	143	189	185	193	213	228	225	266	537	404	303	307
Expenses	108	127	162	156	164	181	182	174	214	452	348	246	249
Operating Profit	12	16	27	29	29	31	46	51	53	85	56	57	58
OPM %	10%	11%	14%	16%	15%	15%	20%	22%	20%	16%	14%	19%	19%
Other Income	0	0	0	1	1	0	1	1	2	1	1	1	1
Interest	5	5	6	6	4	5	3	3	2	4	4	3	2
Depreciation	2	2	2	2	2	2	2	3	3	3	3	6	7
Profit before tax	6	9	19	23	24	24	41	45	50	79	50	49	49
Tax %	35%	34%	36%	35%	38%	36%	29%	25%	26%	26%	24%	25%
Net Profit	4	6	12	15	15	16	29	34	37	59	38	37	37
EPS in Rs	0.83	1.20	2.49	2.95	2.93	3.13	5.82	6.82	7.35	11.76	7.58	7.33	7.35
Dividend Payout %	24%	34%	20%	27%	27%	26%	14%	15%	11%	3%	11%	27%

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%	100.00%	25.00%	0.00%	6.67%	81.25%	17.24%	8.82%	59.46%	-35.59%	-2.63%
Change in YoY Net Profit Growth (%)	0.00%	50.00%	-75.00%	-25.00%	6.67%	74.58%	-64.01%	-8.42%	50.64%	-95.05%	32.96%

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:	8%
5 Years:	6%
3 Years:	4%
TTM:	-5%

Compounded Profit Growth
10 Years:	20%
5 Years:	5%
3 Years:	0%
TTM:	12%

Stock Price CAGR
10 Years:	40%
5 Years:	56%
3 Years:	14%
1 Year:	32%

Return on Equity
10 Years:	23%
5 Years:	21%
3 Years:	19%
Last Year:	14%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 6:35 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	5	5	5	5	5	5	5	5	5	5	5	5	5
Reserves	27	31	40	50	61	72	96	124	157	212	246	276	285
Borrowings	43	44	47	49	62	44	44	34	31	90	52	20	30
Other Liabilities	18	21	39	18	36	35	25	23	33	44	29	24	37
Total Liabilities	93	100	131	123	164	155	170	186	226	352	332	325	357
Fixed Assets	19	18	17	31	30	29	31	31	29	38	47	125	125
CWIP	0	0	9	0	0	0	0	2	5	33	65	0	0
Investments	0	0	0	0	0	0	0	13	13	13	13	13	13
Other Assets	73	82	105	92	134	126	139	140	179	268	207	187	219
Total Assets	93	100	131	123	164	155	170	186	226	352	332	325	357

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 +	4	7	17	17	-9	33	22	28	11	-22	96	63
Cash from Investing Activity +	-4	-1	-10	-7	-1	-1	-4	-17	-3	-40	-42	-19
Cash from Financing Activity +	-1	-7	-4	-7	5	-29	-8	-19	-8	53	-47	-40
Net Cash Flow	-1	-0	3	3	-5	3	10	-8	0	-9	6	4

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	-31.00	-28.00	-20.00	-20.00	-33.00	-13.00	2.00	17.00	22.00	-5.00	4.00	37.00

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	112	111	91	77	116	101	99	124	130	102	91	106
Inventory Days	85	92	103	81	111	93	97	102	92	67	75	108
Days Payable	60	59	77	38	75	74	50	53	63	34	28	30
Cash Conversion Cycle	138	144	117	120	152	120	146	173	159	135	138	184
Working Capital Days	153	146	114	123	179	145	154	175	187	153	156	187
ROCE %	16%	19%	30%	29%	24%	24%	33%	31%	29%	33%	18%	17%

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	64.27%	64.27%	64.27%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%
FIIs	0.22%	0.37%	0.34%	0.20%	0.08%	0.09%	0.08%	0.07%	0.07%	0.08%	0.14%	0.11%
DIIs	0.00%	0.00%	0.11%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	35.51%	35.36%	35.27%	35.51%	35.63%	35.63%	35.64%	35.66%	35.65%	35.64%	35.60%	35.62%
No. of Shareholders	21,652	20,626	21,128	21,972	21,341	20,508	19,929	18,432	17,814	18,808	17,114	16,894

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE 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.)	7.31	7.55	11.73	7.33	6.79
Diluted EPS (Rs.)	7.31	7.55	11.73	7.33	6.79
Cash EPS (Rs.)	8.53	8.24	12.33	7.89	7.38
Book Value[Excl.RevalReserv]/Share (Rs.)	56.02	50.13	43.38	32.25	25.73
Book Value[Incl.RevalReserv]/Share (Rs.)	56.02	50.13	43.38	32.25	25.73
Revenue From Operations / Share (Rs.)	60.66	80.77	107.37	53.26	44.91
PBDIT / Share (Rs.)	11.64	11.38	17.19	10.81	10.21
PBIT / Share (Rs.)	10.39	10.68	16.57	10.23	9.62
PBT / Share (Rs.)	9.76	9.96	15.79	9.91	9.03
Net Profit / Share (Rs.)	7.29	7.54	11.71	7.31	6.78
NP After MI And SOA / Share (Rs.)	7.29	7.54	11.71	7.31	6.78
PBDIT Margin (%)	19.18	14.09	16.01	20.29	22.74
PBIT Margin (%)	17.13	13.22	15.43	19.20	21.41
PBT Margin (%)	16.08	12.32	14.70	18.60	20.11
Net Profit Margin (%)	12.01	9.33	10.90	13.72	15.10
NP After MI And SOA Margin (%)	12.01	9.33	10.90	13.72	15.10
Return on Networth / Equity (%)	13.00	15.03	26.99	22.66	26.35
Return on Capital Employeed (%)	18.20	20.64	35.08	30.89	36.27
Return On Assets (%)	11.23	11.38	16.65	16.20	18.20
Long Term Debt / Equity (X)	0.00	0.01	0.07	0.01	0.01
Total Debt / Equity (X)	0.07	0.19	0.07	0.18	0.25
Asset Turnover Ratio (%)	0.92	1.18	1.86	1.29	0.00
Current Ratio (X)	4.79	2.86	2.32	2.99	2.61
Quick Ratio (X)	3.35	2.03	1.69	2.32	1.97
Inventory Turnover Ratio (X)	2.91	2.44	2.38	2.74	0.00
Dividend Payout Ratio (NP) (%)	19.18	10.59	5.11	10.92	14.72
Dividend Payout Ratio (CP) (%)	16.38	9.69	4.85	10.11	13.53
Earning Retention Ratio (%)	80.82	89.41	94.89	89.08	85.28
Cash Earning Retention Ratio (%)	83.62	90.31	95.15	89.89	86.47
Interest Coverage Ratio (X)	18.28	15.64	21.99	33.84	17.39
Interest Coverage Ratio (Post Tax) (X)	12.45	11.36	15.97	23.87	12.55
Enterprise Value (Cr.)	2279.94	1673.79	2104.86	1084.11	248.53
EV / Net Operating Revenue (X)	7.51	4.14	3.92	4.07	1.11
EV / EBITDA (X)	39.17	29.39	24.48	20.05	4.86
MarketCap / Net Operating Revenue (X)	7.49	4.04	3.89	4.00	1.01
Retention Ratios (%)	80.81	89.40	94.88	89.07	85.27
Price / BV (X)	8.11	6.51	9.63	6.60	1.76
Price / Net Operating Revenue (X)	7.49	4.04	3.89	4.00	1.01
EarningsYield	0.01	0.02	0.02	0.03	0.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 573.60

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 21, 2024, is Undervalued by 5.44% compared to the current share price 544.00

Intrinsic Value of as of December 21, 2024 is: 573.60

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 21, 2024, is Undervalued by 5.44% compared to the current share price 544.00

Last 5 Year EPS CAGR: 0.00%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 25.25%, which is a positive sign. The company has higher reserves (129.00 cr) compared to borrowings (45.38 cr), indicating strong financial stability. The company has shown consistent growth in sales (254.85 cr) and profit (36.00 cr) over the years.	The stock has a high average Working Capital Days of 156.00, which may not be favorable. The stock has a high average Cash Conversion Cycle of 143.83, 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: 12.01%
  - 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: 18.2% (Industry Average ROCE: 8.57%)
  - 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%: 13% (Industry Average ROE: 7.14%)
  - 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): 12.45
  - 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: 3.35
  - 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: 71.4 (Industry average Stock P/E: 66.29)
  - 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: 0.07
  - 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

Vidhi Specialty Food Ingredients Ltd. is a Public Limited Listed company incorporated on 19/01/1994 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L24110MH1994PLC076156 and registration number is 076156. 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. 537.05 Cr. and Equity Capital is Rs. 5.00 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Dyes & Pigments	E/27, Commerce Centre, Mumbai Maharashtra 400034	manek@vidhifoodcolors.com https://vidhifoodcolors.com

Management
Name	Position Held
Mr. Bipin M Manek	Chairman & Managing Director
Mr. Mihir B Manek	Exe.Jt.Mng.Director
Ms. Vidhi H Parekh	Whole Time Director
Mrs. Pravina B Manek	Non Executive Woman Director
Mr. Prafulchandra A Shah	Ind. Non-Executive Director
Mrs. Jyoti S Modi	Ind. Non-Executive Director
Mr. Nirenbhai D Desai	Ind. Non-Executive Director
Mr. Rahul C Berde	Ind. Non-Executive Director
Mr. Ashit Kantilal Doshi	Ind. Non-Executive Director
Mrs. Pranali P Govekar	Ind. Non-Executive Director
Mr. Anil Udeshi	Ind. Non-Executive Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹573.60, which is 5.44% higher than the current market price of ₹544.00. The stock has a market capitalization of 2,715 Cr. and recorded a high/low of 570/382 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹285 Cr and total liabilities of ₹357 Cr.

What is the Market Cap of ?

The Market Cap of is 2,715 Cr..

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

The current stock price of as on 21 December 2024 is 544.

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

In FY 2024-2025, the High / Low of stocks is 570/382.

What is the Stock P/E of ?

The Stock P/E of is 71.4.

What is the Book Value of ?

The Book Value of is 58.0.

What is the Dividend Yield of ?

The Dividend Yield of is 0.37 %.

What is the ROCE of ?

The ROCE of is 17.3 %.

What is the ROE of ?

The ROE of is 13.8 %.

What is the Face Value of ?

The Face Value of is 1.00.