GOCL Corporation Ltd - Stock Valuation and Financial Performance

BSE: 506480 | NSE: GOCLCORP | Chemicals | Small Cap

GOCL Corporation Share Price

453.35 75.55 20.00%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on GOCL Corporation

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

GOCL Corporation stock performance -

mw4me loader
P/E Ratio (SA):
49.73
Market Cap:
2,247.4 Cr.
52-wk low:
278.3
52-wk high:
640

Is GOCL Corporation Ltd an attractive stock to invest in?

1. Is GOCL Corporation Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that GOCL Corporation Ltd is a below average quality company.

2. Is GOCL Corporation Ltd undervalued or overvalued?

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

3. Is GOCL Corporation Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of GOCL Corporation 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 GOCL Corporation:

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.
GOCL Corporation Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 6.6%2.1%1.3%2.8%5.8%7.3%0.9%12.8%11.7%5.7%-
Value Creation
Index
-0.5-0.9-0.9-0.8-0.6-0.5-0.9-0.1-0.2-0.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 95510910210188.398.696.397.7121175136
Sales YoY Gr.--88.6%-6.6%-1.6%-12.1%11.6%-2.4%1.5%24.1%44.4%-
Adj EPS 6.64.62.63.84.25.50.49.89.569.1
YoY Gr.--30.1%-44.4%49%11.3%30%-93.3%2559.5%-3.2%-37.6%-
BVPS (₹) 46.567.469.374.475.977.875.879.785.3129126
Adj Net
Profit
65.222.812.618.82127.21.848.847.229.545
Cash Flow from Ops. 46.6-4.317.63.3-5.214.96.930.78.1-75-
Debt/CF from Ops. 3.9-2.40.20.1-1.90.30.80.10.40-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -17.2%14.7%22.1%44.4%
Adj EPS -1.1%7.1%152.4%-37.6%
BVPS12%11.2%19.4%51.3%
Share Price 15.2% 8.4% 26.8% 57.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
5.82.11.32.75.67.20.512.711.65.67.2
Op. Profit
Mgn %
9.69.94.2-6.3-6.1-7.9-6.2-4.8-5.43.5-0.9
Net Profit
Mgn %
6.820.812.418.723.727.61.949.93916.933.2
Debt to
Equity
0.4000000000-
Working Cap
Days
140935485453516455553663871932583
Cash Conv.
Cycle
64411192128887767474433439

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 22.07%

Net Profit is growing at healthy rate in last 3 years 152.41%

Return on Equity has declined versus last 3 years average to 7.20%

Sales growth is not so good in last 4 quarters at -7.11%

Latest Financials - GOCL Corporation Ltd.

Standalone Consolidated
TTM EPS (₹) 9.1 11.5
TTM Sales (₹ Cr.) 136 769
BVPS (₹.) 126 284.7
Reserves (₹ Cr.) 615 1,402
P/BV 3.60 1.59
PE 49.73 39.38
From the Market
52 Week Low / High (₹) 278.25 / 640.00
All Time Low / High (₹) 1.96 / 700.00
Market Cap (₹ Cr.) 2,247
Equity (₹ Cr.) 9.9
Face Value (₹) 2
Industry PE 47

Management X-Ray of GOCL Corporation:

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 GOCL Corporation

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
Sales95510910210188999698121175
Operating Expenses 865999810794106102102128169
Manufacturing Costs95252719151618172225
Material Costs489251933313835273562
Employee Cost 64252728232423232833
Other Costs 217232528242826354349
Operating Profit 90114-7-5-8-6-5-76
Operating Profit Margin (%) 9.4%9.9%4.2%-6.7%-6.1%-7.9%-6.2%-4.8%-5.4%3.5%
Other Income 462421303332146570356
Interest 34211122211
Depreciation 14122223345
Exceptional Items -91047480000
Profit Before Tax 79422628292935658356
Tax 201187611711123
Profit After Tax 58311821232824948233
PAT Margin (%) 6.1%28.1%17.2%21.0%25.9%28.3%2.4%50.2%39.3%133.0%
Adjusted EPS (₹)5.96.23.64.34.65.60.59.99.647.0
Dividend Payout Ratio (%)42%32%42%38%35%36%854%61%52%21%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 1,1341,0071,017369376386376395423639
Share Capital 20101010101010101010
Reserves 1,1149981,007359366376366385413629
Minority Interest0000000000
Debt16410401055330
Long Term Debt0100000000
Short Term Debt1649301055330
Trade Payables115221719162221232626
Others Liabilities 154109105127112110152148384159
Total Liabilities 1,5671,1481,142515514522554570836825

Fixed Assets

Gross Block1,0931,0361,0211722253273324656
Accumulated Depreciation10589732347101216
Net Fixed Assets9889479481519213203223540
CWIP 361313131413131211
Investments 27262633432632936378038
Inventories199525016202118182726
Trade Receivables148352426172117191824
Cash Equivalents 92121821323516112032
Others Assets766364898681134150656665
Total Assets 1,5671,1481,142515514522554570836825

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 47-4183-5157318-75
PBT 79422628292935658356
Adjustment 26-19-10-18-19-21-2-24-26-308
Changes in Working Capital -33-239-2-91578-12-7
Tax Paid -26-4-7-4-6-8-2-9-12-116
Cash Flow From Investing Activity 1481691281051297
Capex -29-811-3-6-7-4-8211
Net Investments 5233-1212-212-28-11-8
Others 12520612-71753831-106
Cash Flow From Financing Activity -192-4-19-130-24-14-34-22-19
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -21100000000
Interest Paid -35-2-1-1-1-2-2-2-1-1
Dividend Paid -470-10-7-8-18-10-30-20-15
Others -90-3-8-59-5-2-30-3
Net Cash Flow 377-9-3-122-13
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)13.087.725.25.926.157.310.6112.7211.6743.85
ROCE (%)16.638.957.858.067.987.761.3914.6914.567.06
Asset Turnover Ratio0.690.090.090.130.170.190.180.170.170.21
PAT to CFO Conversion(x)0.81-0.1310.14-0.220.543.50.630.17-0.32
Working Capital Days
Receivable Days472879985876973685543
Inventory Days62394171111737574676754
Payable Days80979357197203170207288254155

GOCL Corporation Ltd Stock News

GOCL Corporation Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of GOCL Corporation on 28-Mar-2024 16:01 is ₹453.4.
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 28-Mar-2024 16:01 the market cap of GOCL Corporation stood at ₹2,247.4.
The latest P/E ratio of GOCL Corporation as of 28-Mar-2024 16:01 is 49.73.
The latest P/B ratio of GOCL Corporation as of 28-Mar-2024 16:01 is 3.60.
The 52-week high of GOCL Corporation is ₹640.0 and the 52-week low is ₹278.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GOCL Corporation is ₹136.0 ( Cr.) .

About GOCL Corporation Ltd

The Chemical Hub of Hinduja Group was created with Gulf Oil India Limited merging with IDL Industries Limited from January 01, 2002. The merger has enabled the company to leverage the large marketing networks of lubricants and industrial explosives businesses and achieve a turnover for the financial year 2008-09 of Rs 1,000 crore ($200 million). Exports accounted for 5% of the turnover.

IDL Industries Limited was renamed as GULF OIL Corporation Limited with the merger of Gulf Oil India’s business. A property Development Division was started in the Company from 2006. With effect from April 1, 2008 the business of specialty chemicals Division has been transferred to a 100% subsdiary - IDL Speciality Chemicals Limited through a scheme of arrangement sanctioned by the High Court of Andhra Pradesh at Hyderabad.

Gulf Oil Corporation (GOCL) is engaged in manufacturing industrial explosives, mining products, lubricants, speciality oils and chemicals, active pharma ingredients (bulk drugs) and pharma formulations. Gulf has an agreement with GULF Oil International (Mauritius) Inc for trademarks licence and technical know-how. It introduced range of GULF’s international products in India. In 1994 subsidiary company of GOCL was set up under the name GULF CareX India (GCIL) India in technical collaboration with SIPAL Arexons SpA, Italy. SIPAL Arexons SpA is engaged manufacture and marketing of wide range of vehicle maintenance products and is part of Fiat Group Companies. GULF CareX India introduced product range of 'Do-it-yourself' that keep the vehicle fit.

In 1995 the company set up its first State-of-the-art blending plant at Silvassa. This plant has a capacity of producing 75,000 tpa of lubricating oil. In 1996 the name of GULF CareX was changed to GULF Carosserie India. In the same year GOCL was merged with Pita Ashish Oils & Lubricants

GCIL started production of greases in 1997. During 1997 the second manufacturing facility was started at Calcutta under blending and filling arrangements to cater to Eastern and North-eastern locations.

Products

Lubricants

The division was started in 1993 to manufacture and market lubricating oil and greases. Within a short span of seven years, the Division has grown to become the second largest lubricant oil manufacturer in the private sector in India. The Gulf brand today is one of the best known brands with an expansive distribution network spread across the length and breadth of the country.

With the wealth of the knowledge and experience of its principal, Gulf Oil International, including a vast database of formulations running into thousands, the Lubricants Division is well placed to cater to all possible applications in the lube sector. The state of the art PLC controlled manufacturing facility ensures highest product quality and reliability enabling the division to export its product to many countries in Asia.

The Division is a regular supplier to almost all major automobile and tractor manufacturers in the country and is approved by almost all major original equipment manufacturers. With the recent marketing initiatives undertaken by the Division, it is poised to take a significant share of the lubricating oil market in the country and neighbouring countries.

Over the last 2 years, this Division has been steadily diversifying into automotive accessories such as various types of automotive filters and mechanic services in large metropolitan cities for maintenance of passenger cars. It is also supplying automatic greasing equipments to large garages which are now handling large number of transport vehicles due to phenomenal increase in the medium and heavy transport vehicles over the last 2-3 years in India.

Industrial Explosives Division

The Division has the country's largest explosives and detonators manufacturing facilities (9 manufacturing plants and 6 bulk explosives support facilities) around India. Its Hyderabad Plant is one of the largest detonator manufacturing facilities in the world (192 million nos per annum). The other plants manufacture cartridge explosives as well as intermediaries for site mix explosives.

The Division employs well-qualified, trained and experienced team of mining engineers, operating in various regions of the Indian subcontinent with offices in Hyderabad, Rourkela, Ahmedabad, Asansol, Barbil, Bilaspur, Chandigarh, Dhanbad, Guwahati, Kolkata, Nagpur, Ramagundam, Ranchi, Satna, Siliguri, Singrauli, Talcher and Udaipur, supporting a nationwide distribution.

A well-equipped and well-staffed R&D wing has succeeded in developing new products in line with customer demands and in obtaining a large number of explosives related patents in India and abroad. The R&D wing has been able to commercialize several products for defense and space applications, explosively bonded clad metal plates for chemical industries and ship building and recently electronically programmable detonators used for precision blasting in mines.

The Division is the country’s largest exporter of explosives and detonators (CE Certified) to 25 countries, which includes countries in the Far East, South East Asia, Southern Asia, West Asia, Gulf, Middle East, North Africa and Southern Europe.

In 2014 the company got the approval of the demerger of the Lubricants business of the Company, Gulf Oil Corporation Limited (GOCL) into a separate company ( wholly owned subsidiary of the Company ) namely Gulf Oil Lubricants India Limited ( GOLIL ).

Mining & Infrastructure Contracts Division

Mining Contracts

Observing the need of efficient and well planned mining operations, IDLconsult division was formed in 2001. Since then the Division has expanded its services in coal, iron ore, manganese, limestone mines. The Division plans and operates the mines and currently handling about 60 million tonnes of rock and ore annually.

The Division has also started taking up mineral screening and crushing in the iron ore sector and planning for coal washeries in the near future. The company has prestigious contracts with:

  • Coal India Limited, Kolkata
  • Singareni Collieries Company Limited, Hyderabad
  • National Mineral Development Corporation Limited, Hyderabad
  • Aditya Birla Group, Mumbai
  • Tata Steel Limited, Jamshedpur
  • Patnaik Minerals, Orissa
  • Adhunik Metalliks Group, Kolkata

Infrastructure Contracts

  • Projects executed / under execution:
  • Large R&D building for Reliance Industries at Jamnagar, Gujarat
  • Bridges and Culverts for Outer Ring Road Project in Hyderabad
  • Various Quarry operations in the Road Projects under NHAI
  • Advanced engineering work in Delhi Metro by controlled underground blasting
  • Controlled demolition activities in Hyderabad and Kolkata by implosion techniques
  • Infrastructure development for alumina plant in Orissa. The work involves piling, construction of plants, workshop, residential colony, bridges for railway and roads.

The Division has plans to undertake various infrastructure activities in line with the growth plans of the Indian Government.

Property Development

The company has large land bank. Properties are mainly situated at Bangalore (Bengaluru) and Hyderabad. Development of these properties is being taken up progressively as opportunities are identified to unlock shareholder value and fund major expansion projects.

Milestones

2014

  • Gulf Oil Corporation demerges into two listed companies

2010

  • Gulf SUPERFLEET LE Max becomes India's first engine oil with a drain interval of 40,000 km

2008

  • Gulf Oil wins SAP ACE award for best implementation
  • The company undertakes mining related infrastructure works at Rayagada, Orissa.
  • The company equips itself with a state-of-art 3D scanner

2009

  • The company wins Best Employer Brand Award, Oil & Gas - Private Sector for the year 2009-10

2011

  • The company, which hived off its explosives business into a wholly-owned subsidiary last year, would induct a strategy partner by end 0f 2011. With margins coming under pressure due to high interest rates and increasing costs, the company would be de-risking its business strategy foraying into property development and cutting losses in mining business.
  • The company, which has a lubricants manufacturing plant at Silvassa, plans to set up a second plantin South India at an investment of Rs 150 crore.
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