Sudarshan Chemical Industries Ltd - Stock Valuation and Financial Performance

BSE: 506655 | NSE: SUDARSCHEM | Dyes & Pigments | Small Cap

Sudarshan Chemicals Share Price

610 -4.85 -0.79%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Sudarshan Chemicals

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Sudarshan Chemical Industries stock performance -

mw4me loader
P/E Ratio (CD):
12.71
Market Cap:
4,220.4 Cr.
52-wk low:
376.1
52-wk high:
630.1

Is Sudarshan Chemical Industries Ltd an attractive stock to invest in?

1. Is Sudarshan Chemical Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Sudarshan Chemical Industries Ltd is a average quality company.

2. Is Sudarshan Chemical Industries Ltd undervalued or overvalued?

The key valuation ratios of Sudarshan Chemical Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Sudarshan Chemical Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Sudarshan Chemical Industries Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Sudarshan Chemicals:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Sudarshan Chemical Industries Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 9.7%10.7%13.1%13.7%11.1%10.7%14.3%12.2%9.7%5.3%-
Value Creation
Index
-0.3-0.2-0.10.0-0.2-0.20.0-0.1-0.3-0.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,1191,2181,4091,2821,3291,5931,7081,8642,2012,3022,441
Sales YoY Gr.-8.9%15.7%-9.1%3.7%19.8%7.2%9.1%18.1%4.6%-
Adj EPS 5.56.79.912.411.11219.319.618.88.248
YoY Gr.-23%47.2%25.2%-10.9%8%61.5%1.2%-3.6%-56.3%-
BVPS (₹) 31.937.945.455.163.68286.8107.2120119.2161.4
Adj Net
Profit
3846.768.78676.682.813413513057332
Cash Flow from Ops. 48.311216416314871263165180287-
Debt/CF from Ops. 9.13.92.62.72.95.21.93.74.62.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.4%11.6%10.5%4.6%
Adj EPS 4.6%-5.7%-24.7%-56.3%
BVPS15.8%13.4%11.1%-0.7%
Share Price 28.7% 12.1% 5.7% 61%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
14.517.523.824.718.716.422.920.116.66.934.2
Op. Profit
Mgn %
12.110.71214.814.31314.61512.71011.7
Net Profit
Mgn %
3.43.84.96.75.85.27.87.35.92.513.6
Debt to
Equity
21.71.41.110.70.80.811-
Working Cap
Days
19720219322823121323925624724385
Cash Conv.
Cycle
110108908178787668757017

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 34.20%

Sales growth is growing at healthy rate in last 3 years 10.45%

Debt to equity has declined versus last 3 years average to 0.99

Sales growth is good in last 4 quarters at 10.28%

Net Profit has been subdued in last 3 years -24.73%

Latest Financials - Sudarshan Chemical Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 46.4 48
TTM Sales (₹ Cr.) 2,041 2,441
BVPS (₹.) 158.3 161.4
Reserves (₹ Cr.) 1,082 1,103
P/BV 3.85 3.78
PE 13.15 12.71
From the Market
52 Week Low / High (₹) 376.10 / 630.10
All Time Low / High (₹) 3.55 / 791.95
Market Cap (₹ Cr.) 4,220
Equity (₹ Cr.) 13.9
Face Value (₹) 2
Industry PE 22.3

Management X-Ray of Sudarshan Chemicals:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Sudarshan Chemicals

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,1191,2181,4091,2821,3291,5931,7081,8642,2012,302
Operating Expenses 9871,0881,2401,0951,1421,3871,4601,5841,9232,089
Manufacturing Costs152155181176183185189220298322
Material Costs6547318207087579429761,0601,2701,368
Employee Cost 7589999294124146156184184
Other Costs 106112140118109135149148171214
Operating Profit 131130170187187206248280278213
Operating Profit Margin (%) 11.7%10.7%12.0%14.6%14.1%13.0%14.5%15.0%12.6%9.3%
Other Income 424141811751755
Interest 43413730251916202344
Depreciation 374248495866748789114
Exceptional Items 000007217000
Profit Before Tax 55729912611520118019017160
Tax 20172934386835494115
Profit After Tax 355470927713314514113045
PAT Margin (%) 3.1%4.5%5.0%7.2%5.8%8.3%8.5%7.6%5.9%1.9%
Adjusted EPS (₹)5.17.910.114.612.219.520.920.418.86.5
Dividend Payout Ratio (%)30%22%30%24%29%31%30%29%27%23%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 271263314381440568601742831825
Share Capital 7141414141414141414
Reserves 264249300367426554587728817811
Minority Interest0000000000
Debt369383393341361303451487672642
Long Term Debt183161218142182113225308369449
Short Term Debt186222174199179190226179303192
Trade Payables113188216270264242371441522509
Others Liabilities 284300311370334504477654696759
Total Liabilities 1,0371,1341,2331,3621,4001,6171,9012,3252,7202,734

Fixed Assets

Gross Block5926457155035846378729451,2481,650
Accumulated Depreciation26431235752108172245330416524
Net Fixed Assets3273333584524754656276158321,126
CWIP 781586244827828544
Investments 0000001122
Inventories258250253261273308411412566494
Trade Receivables258317353343333346364485501486
Cash Equivalents 1523251514816243529
Others Assets171202228283298466435510500552
Total Assets 1,0371,1341,2331,3621,4001,6171,9012,3252,7202,734

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 4811216416314871263165180287
PBT 55729912611512816319017160
Adjustment 738191769368111104104158
Changes in Working Capital -69-26-6-15-72-10350-91-5880
Tax Paid -12-14-20-32-28-32-62-39-38-11
Cash Flow From Investing Activity -28-61-83-135-87-27-220-266-308-189
Capex -31-56-85-134-87-102-254-268-309-191
Net Investments 20-2001-1000
Others 1-54-107535211
Cash Flow From Financing Activity -48-43-81-38-62-48-39108138-103
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -17-2836-87-63641745578
Interest Paid -41-38-33-27-24-18-14-17-19-35
Dividend Paid -10-12-35-25-29-8-1000-41-34
Others 2036-4822-164111-48143-112
Net Cash Flow -2780-10-2-3389-5
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)16.4722.4824.2526.4118.7426.3524.8321.0116.525.41
ROCE (%)15.116.5418.8419.9916.6124.3819.3517.1312.876.29
Asset Turnover Ratio1.181.211.281.060.981.060.970.880.870.84
PAT to CFO Conversion(x)1.372.072.341.771.920.531.811.171.386.38
Working Capital Days
Receivable Days71808192917876838278
Inventory Days74716168726777818184
Payable Days53617611712998115140138137

Sudarshan Chemical Industries Ltd Stock News

Sudarshan Chemical Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Sudarshan Chemicals on 28-Mar-2024 16:01 is ₹610.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Sudarshan Chemicals stood at ₹4,220.4.
The latest P/E ratio of Sudarshan Chemicals as of 28-Mar-2024 16:01 is 13.15.
The latest P/B ratio of Sudarshan Chemicals as of 28-Mar-2024 16:01 is 3.85.
The 52-week high of Sudarshan Chemicals is ₹630.1 and the 52-week low is ₹376.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Sudarshan Chemicals is ₹2,041 ( Cr.) .

About Sudarshan Chemical Industries Ltd

Sudarshan Chemical Industries company was incorporated on February 19, 1951 at Pune as a private limited company and converted into a public limited company on December 31, 1974. Sudarshan Chemical Industries is owned by the Rathi group of companies and accounts for 70% of the Rathi group sales revenue each year. The company makes all its products in-house on its own production plants in Roha and Mahad, in the Maharastra state of India.Its extensive range of products includes organic and inorganic pigments, mica-based effect pigments, chemical intermediates and pesticides.  They have a continuous R&D programme, with technologists working on new and customised solutions.

It was the first chemical company in India to be awarded the ISO 9001 certificate in 1993 and continuously evolve and improve itself throughout to maintain high quality standards at every level of the company. It is also accredited with ISO 14001, ISO 18000 and ISO 17025 international quality standards. In order to improve the customer service, they have implemented many planning tools like SAP and CRM that connect factories, branch offices and depots. Supply chain solutions are currently being implemented to further increase the value of their goods.

Business area of the company

Sudarshan manufactures an extensive range of Organic, Inorganic and Pearlescent pigments and dispersions catering to the Coatings, Plastics, Inks and Cosmetics Industries worldwide. Sudarshan also manufactures agrochemicals.

Products

Sudarshan’s product portfolio includes recognized brands like Sudaperm, Sudafast, Sudacolor, Sumica and Sumicos.

Color product

  • Plastics
  • Industrial coatings
  • Decorative paints
  • Powder castings
  • Liquid inkss
  • Offset inks
    Textile
  • Cosmetics

Effect product

  • Industrial coatings
  • Powder castings
  • Offset inks
  • Textile
  • Cosmetics
  • Architectural coatings
  • Automotive coatings
  • Leather coatings
  • Seed coatings
  • Bead coatings

Awards & Accolades

2017-18

  • India CSR Award CSR community Initiative Sustainable Village Waste Management, Environment
  • ECGC Indian Exporters Excellence Award 2017 under the category ‘Most Socially Responsible Exporter’.
  • Best Employer Brand Innovation in Recruitment
  • Award from the National Safety Council, Maharashtra Chapter
  • Dyestuff Manufacturers Association of India Award for Excellent Performance in the field of Pollution Control, Large Scale
  • Dyestuff Manufacturers Association of India Award for the Second for Excellent Performance in the field of Safety & Hazard control by a Large Scale Unit
  • Dyestuff Manufacturers Association of India Award for Energy Conservation Initiative

2018-19

  • Global CSR Award 2019 in Gold Category for an outstanding achievement in implementing CSR programme for strengthening core business with Social commitment
  • Global Waste Management Award
  • Golden Peacock HR Excellence Award
  • DMAI Award for Energy Conservation

2019-20

  • Appreciation Award By Rotary for CSR activities in Roha
  • Appreciation Award from the Government of Maharashtra by Dy. CM. Ajit Pawar
  • CSR Award from International lions Club 2020
  • Global CSR Award 2020 in Platinum Category - represented case study on Paper Bag Project - Sustainable Livelihood Initiatives for Women
  • CII HR Excellence Award
  • Certified Great Place to Work

Milestones

  • 1951: Established as Sudarshan Chemical Industries Private Limited
  • 1952: Started its first manufacturing facility in Swargate, Pune
  • 1961: Began manufacturing of Organic pigments
  • 1967: Started exporting globally
  • 1968: Built a new plant at Wellesley Road in Pune
  • 1973: Established manufacturing facility at Roha
  • 1976: Got listed on BSE
  • 1989: Collaboration with world leader, DIC, Japan
  • 1993: Became the first Indian chemical company to receive ISO 9001 certificate
  • 1994: Commenced manufacturing plant in Mahad for Pthalos and Effect pigments
  • 1999: Introduced SAP across all its functions
  • 2006: Achieved a net revenue of Rs 400 crore. Established a state-ofthe-art technology R&D centre at Sutarwadi
  • 2007: Established subsidiary Sudarshan Europe BV
  • 2009: Expanded its footprints in the USA, incorporation of Sudarshan North America
  • 2010: Received Sword of Honour from the British Safety Council
  • 2014: Achieved a net revenue of Rs 1,000 crore
  • 2017: Certified as ‘Dream Company to work for’ in chemical sector
  • 2017: Started co-gen plant
  • 2018: Established Sudarshan Mexico
  • 2018: Invested in renewable source of energy such as windmill, solar energy
  • 2018: Became number 4 in Pigment industry
  • 2019: Sudarshan established laboratory in Germany
  • 2020: Established Sudarshan Japan K.K
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