Balrampur Chini Mills Ltd Stock Analysis

BSE: 500038 | NSE: BALRAMCHIN | Sugar | Mid Cap

BSE Share Price 29-Nov-2022 18:01
381.35 1.75 (0.46%)

DeciZen - Make an Informed Decision on Balrampur Chini Mill

Overall Rating

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Balrampur Chini Mill Price Chart

P/E Ratio (SA) :
22.85
Market Cap :
7,778.6 Cr.
52-wk low :
299.5
52-wk high :
525.7
Bole Toh?

1. Is Balrampur Chini Mills Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Balrampur Chini Mills Ltd is a average quality company.

2. Is Balrampur Chini Mills Ltd undervalued or overvalued?

The key valuation ratios of Balrampur Chini Mills Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Balrampur Chini Mills Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Balrampur Chini Mills Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Balrampur Chini Mill:

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.
Balrampur Chini Mills 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'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 8.5%3.2%0.4%5.3%20.9%8.6%18.5%14.2%12.8%12.6%-
Value Creation Index -0.4-0.8-1.0-0.60.5-0.40.30.0-0.1-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 3,2752,6652,9872,7573,4604,3434,2864,7414,8124,8464,685
YoY Gr. Rt. %--18.6%12.1%-7.7%25.5%25.5%-1.3%10.6%1.5%0.7%-
Adj EPS 6.80.5-2.44.2269.524.622.7222316.7
YoY Gr. Rt. %--92.8%-593.9%NA516.6%-63.5%160.2%-8%-3%4.5%-
BVPS (₹) 54.149.746.150.365.669.591.2107.8122.1135.2133.9
Adj Net Profit 16612-59.3103610216563498462469340
Cash Flow from Ops. 555462-76.31473461,180-523850649695-
Debt/CF from Ops. 3.23.3-2211.35.20.8-3.31.71.91.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 4.5%7%4.2%0.7%
Adj EPS 14.5%-2.4%-2.3%4.5%
BVPS 10.715.61410.7
Share Price 19.6% 19% 35.6% 22.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 13.10.9-5.18.74413.830.722.418.717.612.4
Op. Profit Mgn % 13.18.74.21526.110.516.214.414.814.49.8
Net Profit Mgn % 5.10.5-23.717.6513.110.59.69.77.3
Debt to Equity 1.31.31.51.41.20.60.80.60.50.40.1
Working Cap Days 27533329130025021024726325624073
Cash Conv. Cycle 13916110616218412914114614014539

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.44

Return on Equity has declined versus last 3 years average to 12.40%

Sales growth has been subdued in last 3 years 4.18%

Net Profit has been subdued in last 3 years -2.30%

Sales growth is not so good in last 4 quarters at 6.25%

Latest Financials - Balrampur Chini Mills Ltd.

Standalone Consolidated
TTM EPS (₹) 16.7 14.1
TTM Sales (₹ Cr.) 4,685 4,685
BVPS (₹.) 133.9 134.6
Reserves (₹ Cr.) 2,711 2,725
P/BV 2.85 2.83
PE 22.85 27.02
From the Market
52 Week Low / High (₹) 299.50 / 525.70
All Time Low / High (₹) 5.01 / 525.70
Market Cap (₹ Cr.) 7,779
Equity (₹ Cr.) 20.4
Face Value (₹) 1
Industry PE 11.4

Management X-Ray of Balrampur Chini Mill :

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 Balrampur Chini Mill

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Balrampur Chini Mills Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Balrampur Chini Mill on 29-Nov-2022 18:01 is : 381.4.
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 29-Nov-2022 18:01 the market cap of Balrampur Chini Mill stood at ₹ 7,778.6.
The latest PE ratio of Balrampur Chini Mill as of 29-Nov-2022 18:01 is 22.85.
The latest PB ratio of Balrampur Chini Mill as of 29-Nov-2022 18:01 is 2.85
The 52-week high of Balrampur Chini Mill is ₹ 525.7 and the 52-week low is ₹ 299.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Balrampur Chini Mill is ₹ 4,685 ( Cr.) .

About Balrampur Chini Mills Ltd

Balrampur Chini Mills Limited (BCML) was incorporated in 1975 as a wholly-owned subsidiary company of Balrampur Sugar Company Limited, subsequently changing its name to Balrampur Commercial Enterprises Limited (‘BCEL’). By an indenture of conveyance dated 21st February, 1976, BCEL transferred the land, building, other assets as well as the entire staff of its Balrampur sugar factory (with effect from 1st July, 1975) to BCML. BCML ceased to be a subsidiary of BCEL with effect from 25th June, 1979 and its shares were listed on the Calcutta Stock Exchange (CSE) in 1979.

BCML is the second largest sugar manufacturing company in India with a significant strength in the manufacture of downstream products like power (co-generation) and ethanol.

Business area of the company

Balrampur Chini Mills is one of the largest integrated sugar manufacturers in India. Its business portfolio consists of manufacturing and marketing of sugar, ethyl alcohol, ethanol, generation and selling of power and also manufacturing and marketing of organic manure.

Products

  • Sugar
  • Molasses
  • Alcohol
  • Ethanol
  • Bagasse
  • Power

History and milestones

  • 1975: The Balrampur unit went into business with a crushing capacity of 800 TCD; this capacity was subsequently enhanced to 12,000 TCD.
  • 1976: By an indenture of conveyance, Balrampur Commercial Enterprises Limited came under the aegis of BCML with a transfer of land parcels, buildings, assets and the entire staff of the sugar factory. BCML ceased to be a subsidiary of BCEL. The shares were listed on the Calcutta Stock Exchange in 1979.
  • 1990: Acquired a controlling stake in Babhnan Sugar Mill Limited (crushing capacity 1,000 TCD in 1990). The mill was expanded and modernised, resulting in an increased crushing capacity from 2,500 TCD in 1992-93 to 10,000 TCD presently (Babhnan Sugar Mills Limited was merged with BCML with effect from 1st April 1994).
  • 1995: Commissioned a distillery in Balrampur; the capacity of 60 kilolitres per day was subsequently raised to 160 kilolitres per day.
  • 1998: Acquired a controlling stake in Tulsipur Sugar Company Limited, located near Balrampur in Eastern Uttar Pradesh with an installed capacity of 2,500 TCD. Tulsipur Sugar Company Limited was merged with BCML with effect from 1st April 1999; the crushing capacity of Tulsipur Sugar was subsequently expanded to 7,000 TCD.
  • 2003: Commissioned a bagasse-based cogeneration power plant with a capacity of 19.55 MW at Balrampur, which was subsequently increased to 24.55 MW.
  • 2004: Set up an integrated sugar complex at Haidergarh with a crushing capacity of 4,000 TCD and a bagasse-based cogeneration power plant (20.25 MW). The crushing capacity of the Haidergarh sugar division was since increased to 5,000 TCD.
  • 2004: Commissioned a cogeneration plant at the Babhnan unit (3 MW).
  • 2004: The Company commenced operations at Babhnan of a new distillery (60 kilolitres per day).
  • 2005: A greenfield sugar project with a capacity of 7,000 TCD was set up at Akbarpur along with a bagasse-based 18-megawatt cogeneration power plant. The crushing capacity was subsequently expanded to 7,500 TCD.
  • 2006: Set up a greenfield integrated sugar complex at Mankapur – sugar manufacturing capacity of 8,000 TCD, 34 MW co-generation power plant and a 100- KLPD distillery. The plant’s cogeneration capacity is currently 43.60 MW.
  • 2006: Acquired an integrated sugar unit at Rauzagaon from Dhampur Sugar Mills Ltd. The unit (then capable of crushing 7,500 TCD and generating 12 MW of power) was expanded to 8,000 TCD; power generation capacity was enhanced to 25.75 MW.
  • 2007: Set up a greenfield integrated sugar complex at Kumbhi, with a sugar crushing capacity of 8,000 TCD and 20 MW co-generation power plant. The cogeneration facility was expanded to 32.70 MW in 2014.
  • 2007: Another greenfield integrated sugar complex was set up at Gularia, with a crushing capacity of 8,000 TCD and cogeneration capacity of 31.3 MW.
  • 2007: Acquired a 53.96% stake in Indo Gulf Industries Limited (IGIL) and assumed control of its management. IGIL had a sugar unit with a crushing capacity of 3,000 TCD at Maizapur. The sugar division was demerged from IGIL and merged with BCML. During the year 2017, BCML sold its entire stake in IGIL after completion of the Open Offer formalities.
  • 2015: Invested in incinerators at the distillery for better environment management as well increased distillery operational days.
  • 2016-19: Carried out three share buyback schemes with a cumulative payout of Rs 421.67 crore under the buyback.
  • 2020: Commissioned a 160 KLPD distillery at Gularia to manufacture ethanol.
  • 2020: Converted the sugar manufacturing process of Tulsipur plant having capacity of 7000 TCD from double sulphitation to defco remelt Phospho-floatation process.
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