Past 10 year's financial track record analysis by Moneyworks4me indicates that Vinyl Chemicals (India) Ltd is a good quality company.
The key valuation ratios of Vinyl Chemicals (India) Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Vinyl Chemicals (India) Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 48% | 48.9% | 26.3% | 13.4% | 25% | 27.8% | 21.1% | 20.4% | 46.3% | 41% | - |
| Value Creation Index ⓘ | 2.4 | 2.5 | 0.9 | 0.0 | 0.8 | 1.0 | 0.5 | 0.5 | 2.3 | 1.9 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 293 | 442 | 335 | 293 | 375 | 483 | 372 | 404 | 865 | 1,013 | 536 |
| Sales YoY Gr. | - | 50.8% | -24.1% | -12.7% | 28.2% | 28.7% | -22.9% | 8.6% | 114.1% | 17% | - |
| Adj EPS ⓘ | 6.1 | 8.1 | 5.6 | 3.3 | 7.1 | 8.7 | 6.9 | 7.2 | 20.8 | 23 | 11.8 |
| YoY Gr. | - | 33% | -31.6% | -40.2% | 112.9% | 23% | -20.4% | 4.2% | 187.8% | 10.5% | - |
| BVPS (₹) ⓘ | 14 | 18.9 | 23.1 | 26.1 | 30.3 | 32.2 | 33.4 | 37.1 | 52.4 | 61.8 | 59.6 |
| Adj Net Profit ⓘ | 11.2 | 14.9 | 10.2 | 6.1 | 13 | 16 | 12.7 | 13.3 | 38.2 | 42.2 | 22 |
| Cash Flow from Ops. ⓘ | 2.2 | 0.5 | 34.1 | -7.1 | -2.7 | -21.2 | 51.2 | 10.6 | 16.8 | -21.2 | - |
| Debt/CF from Ops. ⓘ | 0.2 | 1 | 0 | -0.1 | -0.2 | -0 | 0 | 0.1 | 0.1 | -0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 14.8% | 22% | 39.6% | 17% | ||||
| Adj EPS ⓘ | 15.9% | 26.5% | 49.1% | 10.5% | ||||
| BVPSⓘ | 18% | 15.4% | 22.8% | 18% | ||||
| Share Price | 35.8% | 36.5% | 49.3% | -21.8% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 49 | 49.5 | 26.5 | 13.5 | 25.2 | 27.9 | 21.2 | 20.5 | 46.5 | 40.3 | 19.4 |
| Op. Profit Mgn % ⓘ | 5.7 | 5.1 | 4.3 | 3.3 | 4.9 | 4.9 | 4.1 | 4.4 | 5.9 | 5.7 | 5.1 |
| Net Profit Mgn % ⓘ | 3.8 | 3.4 | 3 | 2.1 | 3.5 | 3.3 | 3.4 | 3.3 | 4.4 | 4.2 | 4 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 95 | 77 | 97 | 100 | 104 | 107 | 117 | 138 | 64 | 43 | 68 |
| Cash Conv. Cycle ⓘ | 15 | 14 | 6 | 0 | 19 | 26 | 18 | -3 | -6 | 11 | 38 |
Sales growth is growing at healthy rate in last 3 years 39.58%
Net Profit is growing at healthy rate in last 3 years 49.09%
Return on Equity has declined versus last 3 years average to 19.40%
Sales growth is not so good in last 4 quarters at -41.94%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 11.8 | - |
| TTM Sales (₹ Cr.) | 536 | - |
| BVPS (₹.) ⓘ | 59.6 | - |
| Reserves (₹ Cr.) ⓘ | 107 | - |
| P/BV ⓘ | 6.39 | - |
| PE ⓘ | 32.31 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 309.00 / 563.95 |
| All Time Low / High (₹) | 2.40 / 952.10 |
| Market Cap (₹ Cr.) | 698 |
| Equity (₹ Cr.) | 1.8 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 77.6 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 293 | 442 | 335 | 293 | 375 | 483 | 372 | 404 | 865 | 1,013 |
| Operating Expenses ⓘ | 282 | 424 | 326 | 283 | 361 | 472 | 366 | 390 | 821 | 966 |
| Manufacturing Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Material Costs | 273 | 414 | 315 | 277 | 352 | 454 | 352 | 381 | 807 | 945 |
| Employee Cost | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 4 | 6 | 6 |
| Other Costs ⓘ | 8 | 8 | 8 | 4 | 6 | 15 | 10 | 5 | 8 | 15 |
| Operating Profit ⓘ | 10 | 18 | 9 | 9 | 14 | 10 | 6 | 14 | 44 | 47 |
| Operating Profit Margin (%) | 3.5% | 4.0% | 2.8% | 3.2% | 3.8% | 2.2% | 1.7% | 3.4% | 5.1% | 4.6% |
| Other Income ⓘ | 1 | 1 | 3 | 4 | 4 | 4 | 4 | 1 | 2 | 2 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 11 | 19 | 12 | 13 | 18 | 14 | 10 | 15 | 47 | 48 |
| Tax ⓘ | 4 | 6 | 4 | 5 | 6 | 5 | 3 | 4 | 12 | 12 |
| Profit After Tax | 7 | 12 | 8 | 9 | 12 | 9 | 7 | 11 | 35 | 36 |
| PAT Margin (%) | 2.6% | 2.8% | 2.4% | 3.0% | 3.1% | 1.8% | 2.0% | 2.8% | 4.0% | 3.5% |
| Adjusted EPS (₹) | 4.1 | 6.7 | 4.4 | 4.8 | 6.4 | 4.8 | 4.1 | 6.2 | 19.0 | 19.4 |
| Dividend Payout Ratio (%) | 25% | 22% | 34% | 38% | 38% | 50% | 59% | 61% | 53% | 51% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 26 | 35 | 42 | 48 | 55 | 59 | 61 | 68 | 96 | 113 |
| Share Capital ⓘ | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves ⓘ | 24 | 33 | 41 | 46 | 54 | 57 | 59 | 66 | 94 | 111 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 74 | 60 | 76 | 53 | 111 | 78 | 92 | 196 | 57 | 56 |
| Others Liabilities ⓘ | 6 | 9 | 13 | 12 | 9 | 17 | 2 | 11 | 21 | 17 |
| Total Liabilities ⓘ | 106 | 104 | 132 | 113 | 176 | 155 | 156 | 275 | 175 | 187 |
Fixed Assets | ||||||||||
| Gross Block | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Accumulated Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Fixed Assetsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 5 | 9 | 45 | 39 | 34 | 2 | 47 | 55 | 78 | 40 |
| Inventories | 36 | 38 | 25 | 18 | 55 | 66 | 48 | 73 | 53 | 85 |
| Trade Receivables | 53 | 48 | 49 | 46 | 78 | 64 | 46 | 111 | 11 | 31 |
| Cash Equivalents | 7 | 3 | 1 | 1 | 2 | 10 | 12 | 12 | 1 | 2 |
| Others Assetsⓘ | 5 | 6 | 12 | 10 | 7 | 13 | 3 | 25 | 31 | 29 |
| Total Assets ⓘ | 106 | 104 | 132 | 113 | 176 | 155 | 156 | 275 | 175 | 187 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 2 | 0 | 34 | -7 | -3 | -21 | 51 | 11 | 17 | -21 |
| PBT ⓘ | 11 | 19 | 12 | 13 | 18 | 14 | 10 | 15 | 47 | 48 |
| Adjustment ⓘ | -1 | -1 | -4 | -3 | -4 | 0 | -4 | 0 | -2 | -1 |
| Changes in Working Capital ⓘ | -4 | -11 | 30 | -13 | -11 | -30 | 50 | -1 | -19 | -56 |
| Tax Paid ⓘ | -4 | -6 | -4 | -5 | -6 | -5 | -5 | -3 | -9 | -11 |
| Cash Flow From Investing Activity ⓘ | 3 | -3 | -33 | 10 | 8 | 34 | -44 | -6 | -21 | 41 |
| Capex | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Investments | 3 | -3 | -33 | 10 | 8 | 34 | -44 | -6 | -21 | 40 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 0 | -2 | -3 | -3 | -4 | -5 | -5 | -4 | -7 | -19 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | -2 | -3 | -3 | -4 | -5 | -5 | -4 | -7 | -18 |
| Others ⓘ | 0 | -1 | -1 | -1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | 6 | -4 | -2 | 0 | 1 | 7 | 2 | 0 | -11 | 1 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 32.64 | 40.98 | 20.74 | 19.33 | 22.59 | 15.47 | 12.41 | 17.57 | 42.49 | 34.06 |
| ROCE (%) | 48.52 | 61.4 | 31.67 | 29.51 | 34.9 | 24.38 | 16.57 | 23.48 | 56.65 | 46.41 |
| Asset Turnover Ratio | 3.37 | 4.22 | 2.84 | 2.39 | 2.6 | 2.92 | 2.4 | 1.88 | 3.84 | 5.59 |
| PAT to CFO Conversion(x) | 0.29 | 0 | 4.25 | -0.78 | -0.25 | -2.33 | 7.29 | 1 | 0.49 | -0.58 | Working Capital Days |
| Receivable Days | 53 | 42 | 53 | 59 | 60 | 53 | 54 | 71 | 26 | 8 |
| Inventory Days | 35 | 30 | 34 | 27 | 36 | 46 | 56 | 55 | 27 | 25 |
| Payable Days | 78 | 59 | 78 | 85 | 85 | 76 | 88 | 138 | 57 | 22 |
Vinyl Chemicals India, incorporated in 1986, is part of the Parekh Group. The company is in the business of selling various speciality chemicals, mainly to textile, paints and adhesive sectors.
Vinyl Acetate Monomer (VAM) was manufactured in the plant located at Mahad in Raigad District, Maharashtra, and was sold all over the world. The company had a major share of business of this product in India. In December, 2007 the plant was de-merged to resultant parent company Pidilite Industries for strategic reasons.
However, the company's main focus has remained in the product ‘Vinyl Acetate Monomer’ (VAM).
It has a major presence in the field of trading of various speciality chemicals all over the world.
The company's registered office is located at 6-10, Haji Moosa Patrawala Industrial Estate 20, Dr E Moses Road, Mahalaxmi, Mumbai 400011.
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