Gujarat Fluorochemicals Ltd - Stock Valuation and Financial Performance

BSE: 542812 | NSE: FLUOROCHEM | Chemicals | Mid Cap

Gujarat Fluorochemic Share Price

3,254.55 16.40 0.51%
as on 18-May'24 10:00

DeciZen - make an informed investing decision on Gujarat Fluorochemic

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Gujarat Fluorochemicals stock performance -

mw4me loader
P/E Ratio (CD):
81.78
Market Cap:
35,571.1 Cr.
52-wk low:
2,550
52-wk high:
3,920

Is Gujarat Fluorochemicals Ltd an attractive stock to invest in?

1. Is Gujarat Fluorochemicals Ltd a good quality company?

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

2. Is Gujarat Fluorochemicals Ltd undervalued or overvalued?

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

3. Is Gujarat Fluorochemicals Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Gujarat Fluorochemicals 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 Gujarat Fluorochemic:

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.
Gujarat Fluorochemicals 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'12Mar'13Mar'14Mar'16Mar'17Mar'18Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%0%0%0%0%0%5.9%-3.2%14.9%21.2%-
Value Creation
Index
NANANANANANA-0.6-1.20.30.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 0000002,6062,6513,9545,6854,281
Sales YoY Gr.-NANANANANANA1.7%49.2%43.8%-
Adj EPS 00000022.7-22.468.5115.639.6
YoY Gr.-NANANANANANA-198.9%NA68.8%-
BVPS (₹) 000000338.2318387.4502.6540.4
Adj Net
Profit
000000249-2467521,270435
Cash Flow from Ops. 000000546616741739-
Debt/CF from Ops. 0000003.12.62.12-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA29.7%43.8%
Adj EPS NANA72.1%68.8%
BVPSNANA14.1%29.7%
Share Price - - 58.6% -1.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'12Mar'13Mar'14Mar'16Mar'17Mar'18Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0000006.7-6.819.4267.6
Op. Profit
Mgn %
0000002022.629.634.621.2
Net Profit
Mgn %
0000009.3-9.418.722.210.2
Debt to
Equity
0000000.50.50.40.30.1
Working Cap
Days
0000000404303238147
Cash Conv.
Cycle
0000000131898240

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 29.68%

Net Profit is growing at healthy rate in last 3 years 72.14%

Return on Equity has declined versus last 3 years average to 7.60%

Sales growth is not so good in last 4 quarters at -24.41%

Latest Financials - Gujarat Fluorochemicals Ltd.

Standalone Consolidated
TTM EPS (₹) 38.1 39.6
TTM Sales (₹ Cr.) 4,022 4,281
BVPS (₹.) 539.2 540.4
Reserves (₹ Cr.) 5,912 5,925
P/BV 6.01 5.99
PE 84.95 81.78
From the Market
52 Week Low / High (₹) 2549.95 / 3920.00
All Time Low / High (₹) 219.00 / 4172.95
Market Cap (₹ Cr.) 35,571
Equity (₹ Cr.) 11
Face Value (₹) 1
Industry PE 50.6

Management X-Ray of Gujarat Fluorochemic:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *1.893.013.043.232.315.074.933.284.274.99
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Gujarat Fluorochemic

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23
Sales2,6062,6503,9545,685
Operating Expenses 2,1672,0612,7863,720
Manufacturing Costs9348881,2081,607
Material Costs7617801,1001,445
Employee Cost 205218265322
Other Costs 267176212346
Operating Profit 4395901,1671,964
Operating Profit Margin (%) 16.8%22.2%29.5%34.6%
Other Income 216207162173
Interest 10511378117
Depreciation 192202205236
Exceptional Items -26000
Profit Before Tax 3324821,0451,785
Tax 143704269462
Profit After Tax 189-2227761,323
PAT Margin (%) 7.3%-8.4%19.6%23.3%
Adjusted EPS (₹)17.9-19.971.7121.0
Dividend Payout Ratio (%)0%0%6%3%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 3,7163,4934,2555,521
Share Capital 11111111
Reserves 3,7053,4824,2445,510
Minority Interest-11-14-250
Debt1,5201,4121,4061,424
Long Term Debt479392435183
Short Term Debt1,0421,0209701,241
Trade Payables367432513691
Others Liabilities 236646728735
Total Liabilities 5,8285,9696,8788,371

Fixed Assets

Gross Block3,2023,3333,6804,507
Accumulated Depreciation7999771,1721,399
Net Fixed Assets2,4042,3572,5073,108
CWIP 3184006801,158
Investments 25988201
Inventories8138649471,485
Trade Receivables5656677781,107
Cash Equivalents 1722153161
Others Assets1,4531,5711,7931,351
Total Assets 5,8285,9696,8788,371

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 546616741739
PBT 3324821,0451,785
Adjustment 217156183307
Changes in Working Capital 49-162-254-883
Tax Paid -52141-232-470
Cash Flow From Investing Activity -1,192-373-584-476
Capex -1,196-274-649-726
Net Investments 1-1077019
Others 27-5231
Cash Flow From Financing Activity 622-248-144-264
Net Proceeds from Shares 0000
Net Proceeds from Borrowing 405-11317-343
Interest Paid -101-113-87-134
Dividend Paid 00-22-44
Others 317-22-52257
Net Cash Flow -24-514-2
PARTICULARSMar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)5.1-6.1520.0327.07
ROCE (%)8.0411.3220.6529.71
Asset Turnover Ratio0.450.450.620.75
PAT to CFO Conversion(x)2.89N/A0.950.56
Working Capital Days
Receivable Days79856760
Inventory Days1131158378
Payable Days176187157152

Gujarat Fluorochemicals Ltd Stock News

Gujarat Fluorochemicals Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Gujarat Fluorochemic on 18-May-2024 10:00 is ₹3,254.6.
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 18-May-2024 10:00 the market cap of Gujarat Fluorochemic stood at ₹35,571.1.
The latest P/E ratio of Gujarat Fluorochemic as of 18-May-2024 10:00 is 84.95.
The latest P/B ratio of Gujarat Fluorochemic as of 18-May-2024 10:00 is 6.01.
The 52-week high of Gujarat Fluorochemic is ₹3,920 and the 52-week low is ₹2,550.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gujarat Fluorochemic is ₹4,022 ( Cr.) .

About Gujarat Fluorochemicals Ltd

Gujarat Fluorochemicals Limited, earlier known as Inox Fluorochemicals Limited, is a public limited company incorporated and domiciled in India. The Company was incorporated on December 6, 2018 as a wholly owned subsidiary of GFL Limited (earlier known as Gujarat Fluorochemicals Limited) for the purpose of vesting of the demerged Chemical Business undertaking of GFL Limited into the Company, as a going concern.

As per the Scheme of Arrangement between Gujarat Fluorochemicals Limited, now known as GFL Limited (the demerged company) and Inox Fluorochemicals Limited, now known as Gujarat Fluorochemicals Limited (“the Company” or “the resulting company”) and their respective shareholders under Sections 230 to 232 of the Companies Act, 2013 and all other applicable provisions of the Companies Act, 2013, the Chemical Business Undertaking of the demerged company was demerged into the Company. The Scheme was approved by National Company Law Tribunal, Ahmedabad Bench on 4th July 2019. The said NCLT Order was filed by both the companies with the Registrar of Companies on 16th July, 2019 making the Scheme operative from that date.

Headquartered in Noida, India, Gujarat Fluorochemicals Limited (GFL), is a part of the INOX Group of Companies. The group has diversified business segments comprising Chemicals, Fluorospecialities, Fluoropolymers, Cryogenic engineering, Entertainment, Industrial gases and Renewable energy.

An ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 and SA 8000:2014 certified organisation, GFL is a leading producer of Fluoropolymers, Fluorospecialities, Refrigerants and Chemicals for applications in varied industries. GFL derives its strength from expertise in Fluorine Chemistry, vertical integration from natural minerals to Fluoropolymers and strong R&D, enabling it to provide one of the best quality products meeting all regulatory compliances, to its clientele globally.

The facility has multipurpose plants, a state-of-the-art R&D facility and a Pilot plant for scale-up. Starting with the REFRON brand of refrigerants, it expanded into fluorospeciality chemicals, exporting to over 75 countries.

With three manufacturing facilities in India, a captive Fluorspar mine in Morrocco, offices and warehouses in Europe and USA, and a marketing network spread across the world, GFL is one of the established players in Fluoropolymers and Fluorospecialities markets.

Business area of the company

The Company is engaged in manufacturing and trading of refrigerant gases, caustic soda, chloromethane, polytetrafluoroethylene (PTFE), fluoropolymers, fluoromonomers, specialty fluorointermediates, specialty chemicals and allied activities. The Company caters to both domestic and international markets.

Products

  • Fluoropolymers
  • Fluorospeciality
  • Refrigerants
  • Chemicals

Business verticals

  • Industrial Gases
  • Refrigerants
  • Chemicals
  • Cryogenic Engineering
  • Renewable Energy
  • Entertainment

Milestones

  • 1987: Gujarat Fluorochemicals Limited (GFL), a public limited company, was incorporated in the year 1987 as a Refrigerants manufacturer in India.
  • 1988: In 1988, GFL launched a public issue and established a manufacturing plant to produce Chlorofluorocarbon Refrigerant gases and Hydrofluoric Acid in Panchmahal Gujarat.
  • 1989: GFL commenced its commercial operations in the year 1989 and entered into a technical collaboration with Stauffer Chemicals Pennwalt Corporation and Stearns Catalytic Corporation USA and commissioned a plant near Vadodara.
  • 1999: In the year 1999, GFL diversified into Entertainment business through Inox Leisure Limited - a chain of multiplexes across India.
  • 2006: GFL implemented Clean Development Mechanism Project entailing reduction of Greenhouse Gas emissions by the thermal oxidation of HFC-23, a by-product generated at the Refrigerant gas plant at Ranjitnagar, Gujarat. In lieu of that, the company received Carbon Credits issued by the UNFCCC to be traded in international markets.
  • 2007: GFL established a chemical complex at Dahej, Gujarat. The chemical complex comprised of a captive power plant, caustic soda and chlorine plant, chloromethane plant and a Polytetrafluoroethylene (PTFE) plant.
  • 2009: GFL incorporated a wholly owned subsidiary, Gujarat Fluorochemicals Americas LLC, to conduct business operations across the American subcontinent. Year 2009 also marked GFL’s diversification into Wind energy business through Inox Wind Limited, a leading wind energy solutions provider in India.
  • 2011: Gujarat Fluorochemicals entered into a JV with MeturisSarl, Morocco and Global Mines Sarl, Morocco to undertake Fluorspar Beneficiation Project for supply of Acid Grade Fluorspar and Metallurgical Grade Fluorspar to GFL.
  • 2013: GFL incorporated a wholly owned subsidiary, Gujarat Fluorochemicals GmbH in Hamburg, Germany to conduct trading, processing, distribution, marketing and storage of Fluoropolymersin EMEA region.
  • 2013: With the introduction of PFOA free PTFE resins and dispersions in the year 2013, GFL ranked amongst the world’s major players offering PFOA free Fluoropolymers.
  • 2013-19: With vertically integrated Fluoropolymer manufacturing facility and expertise in Fluorine chemistry, GFL expanded its monomer and polymer capacity to cater to the growing demand for Fluoropolymers and Fluoroelastomers across geographies.
  • 2013-19: GFL launched FKM (Fluoroelastomers) brand Fluonox in 2015. In 2016, subsequent to the success of its PTFE brand INOFLON in global markets, GFL added two more Fluoropolymer products - FEP and PFA under the brand name INOFLON. In 2018, GFL started its Additives brand INOLUB for marketing PTFE Micropowders and Polymer Processing Aids (PPA).
  • 2013-19: GFL introduced PVDF under the brand name INOFLAR.
  • 2019: Pursuant to the order passed by National Company Law Board Tribunal, Ahmedabad Bench on July
    04, 2019, the Chemical Business Undertaking of erstwhile Gujarat Fluorochemicals Limited, now known as GFL Limited, was demerged to form a new company Inox Fluorochemicals Limited, which is now known as Gujarat Fluorochemicals Limited with all assets and liabilities pertaining to the Chemical Business Undertaking transferred to the resultant company on a going concern basis with effect from the appointed date, April 01, 2019.
  • 2020: The company has set up capacity of about 700 tonnes on six New Fluoropolymers which is FKM, PFA, FEP, PVDF, PPA and Micropowders.
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