Balrampur Chini Mills Ltd - Stock Valuation and Financial Performance

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

Balrampur Chini Mill Share Price

377.80 -11.10 -2.85%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on Balrampur Chini Mill

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Balrampur Chini Mills stock performance -

mw4me loader
P/E Ratio (SA):
15.66
Market Cap:
7,622.1 Cr.
52-wk low:
343.5
52-wk high:
485.8

Is Balrampur Chini Mills Ltd an attractive stock to invest in?

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 Fair zone.

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

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Balrampur Chini Mills Ltd is likely to Rise-somewhat 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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 3.2%0.4%5.3%20.9%8.6%18.5%14.2%12.8%12.8%7%-
Value Creation
Index
-0.8-1.0-0.60.5-0.40.30.0-0.1-0.1-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,6652,9872,7573,4604,3434,2864,7414,8124,8464,6665,651
Sales YoY Gr.-12.1%-7.7%25.5%25.5%-1.3%10.6%1.5%0.7%-3.7%-
Adj EPS 0.5-2.44.2269.524.622.72223.213.524.1
YoY Gr.--593.9%NA516.6%-63.5%160.2%-8%-3%5.6%-41.8%-
BVPS (₹) 49.746.150.365.669.591.2107.8122.1135.2142.5154.8
Adj Net
Profit
12-59.3103610216563498462474273487
Cash Flow from Ops. 462-76.31473461,180-523850649695453-
Debt/CF from Ops. 3.3-2211.35.20.8-3.31.71.91.74.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 6.4%1.5%-0.5%-3.7%
Adj EPS 44.6%7.4%-15.8%-41.8%
BVPS12.4%15.5%9.8%5.4%
Share Price 21% 22.2% 16.7% -6.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0.9-5.18.74413.830.722.418.717.89.716.2
Op. Profit
Mgn %
8.74.21526.110.516.214.414.814.611.215
Net Profit
Mgn %
0.5-23.717.6513.110.59.69.85.98.6
Debt to
Equity
1.31.51.41.20.60.80.60.50.40.7-
Working Cap
Days
33329130025021024726325624024256
Cash Conv.
Cycle
16110616218412914114614014515820

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 16.20%

Debt to equity has declined versus last 3 years average to 0.65

Sales growth is good in last 4 quarters at 27.23%

Sales growth has been subdued in last 3 years -0.53%

Net Profit has been subdued in last 3 years -15.79%

Latest Financials - Balrampur Chini Mills Ltd.

Standalone Consolidated
TTM EPS (₹) 24.1 29
TTM Sales (₹ Cr.) 5,651 5,651
BVPS (₹.) 154.8 160.3
Reserves (₹ Cr.) 3,104 3,213
P/BV 2.44 2.36
PE 15.66 13.02
From the Market
52 Week Low / High (₹) 343.45 / 485.80
All Time Low / High (₹) 5.01 / 525.70
Market Cap (₹ Cr.) 7,622
Equity (₹ Cr.) 20.2
Face Value (₹) 1
Industry PE 16.1

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 (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales2,6652,9872,7573,4604,3434,2864,7414,8124,8464,666
Operating Expenses 2,4512,8652,3472,5913,8913,5974,0594,0994,1464,154
Manufacturing Costs1151149595120153144160165173
Material Costs2,0912,5101,9762,1573,4753,0573,5013,4563,4563,409
Employee Cost 142150151181204230254282308364
Other Costs 1039112515892156159201218207
Operating Profit 214122409870452689682713700512
Operating Profit Margin (%) 8.0%4.1%14.8%25.1%10.4%16.1%14.4%14.8%14.4%11.0%
Other Income 26195025284339344863
Interest 1181026755524164393149
Depreciation 1091161121059596101112114130
Exceptional Items 00-17300000530
Profit Before Tax 13-76108734332595555596656397
Tax 9-1871421112446126141121
Profit After Tax 4-58100592221571509470515276
PAT Margin (%) 0.1%-1.9%3.6%17.1%5.1%13.3%10.7%9.8%10.6%5.9%
Adjusted EPS (₹)0.2-2.44.125.29.725.023.222.425.213.7
Dividend Payout Ratio (%)0%0%0%14%26%10%11%11%10%18%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 1,2171,1291,2311,5411,5872,0832,3702,5642,7582,875
Share Capital 24242424232322212020
Reserves 1,1931,1041,2061,5181,5642,0602,3482,5432,7382,855
Minority Interest0000000000
Debt1,3481,6131,4911,7028761,6741,3991,1341,1041,693
Long Term Debt49143049612411279340242144429
Short Term Debt8571,1839941,5778661,3951,0598919601,264
Trade Payables1,015736418292780606670596308352
Others Liabilities 6194666206456676707808428661,111
Total Liabilities 4,2003,9443,7604,1803,9115,0335,2205,1365,0366,031

Fixed Assets

Gross Block2,6622,6761,4501,6211,7481,8162,1162,2002,3363,409
Accumulated Depreciation1,1391,301110209302395492601703811
Net Fixed Assets1,5221,3751,3401,4121,4461,4221,6241,5991,6342,599
CWIP 088661146121420424
Investments 4141484583120185177158236
Inventories2,0921,6691,8652,3141,8022,3162,2952,3782,2012,319
Trade Receivables64159199163182450239245137125
Cash Equivalents 14382749553312
Others Assets336610216236378675859719700716
Total Assets 4,2003,9443,7604,1803,9115,0335,2205,1365,0366,031

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 462-761473461,180-523850649695453
PBT 13-76281734332595555596603397
Adjustment 231213154209143122156139134182
Changes in Working Capital 208-201-264-455823-1108238-3476-58
Tax Paid 11-12-20-141-118-132-99-53-119-68
Cash Flow From Investing Activity -64-23-147-115-159-159-305-81-309-859
Capex -76-25-152-122-132-126-242-98-396-844
Net Investments 2-130-38-36-691672-19
Others 1022711360154
Cash Flow From Financing Activity -44738-72-233-1,020682-546-569-385406
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 138-179184-472-8125170-83-106220
Interest Paid -117-99-73-65-54-39-64-42-30-41
Dividend Paid -4900-86-59-57-55-53-51-51
Others -419315-183389-827527-497-391-198277
Net Cash Flow -48-62-72-200-1-100
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)0.29-4.928.542.7314.1431.122.8719.0419.349.78
ROCE (%)4.480.946.1225.413.0219.8916.1416.617.6710.22
Asset Turnover Ratio0.650.760.750.921.090.960.920.930.950.84
PAT to CFO Conversion(x)115.5N/A1.470.585.34-0.921.671.381.351.64
Working Capital Days
Receivable Days16132318142727181410
Inventory Days263222224209171175177177172177
Payable Days15112710760568367674835

Balrampur Chini Mills Ltd Stock 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 12-Apr-2024 16:59 is ₹377.8.
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 12-Apr-2024 16:59 the market cap of Balrampur Chini Mill stood at ₹7,622.1.
The latest P/E ratio of Balrampur Chini Mill as of 12-Apr-2024 16:59 is 15.66.
The latest P/B ratio of Balrampur Chini Mill as of 12-Apr-2024 16:59 is 2.44.
The 52-week high of Balrampur Chini Mill is ₹485.8 and the 52-week low is ₹343.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Balrampur Chini Mill is ₹5,651 ( 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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