Bhansali Engineering Polymers Ltd Stock Analysis

BSE: 500052 | NSE: BEPL | Chemicals | Small Cap

BSE Share Price 23-Sep-2022 18:01
121.60 -1.50 (-1.22%)

DeciZen - Make an Informed Decision on Bhansali Engg. Poly.

Overall Rating

1. Quality

2. Valuation

Fair

3. Price Trend

Bhansali Engg. Poly. Price Chart

P/E Ratio (SA) :
6.31
Market Cap :
2,017.4 Cr.
52-wk low :
98
52-wk high :
221.8
Bole Toh?

1. Is Bhansali Engineering Polymers Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Bhansali Engineering Polymers Ltd is a good quality company.

2. Is Bhansali Engineering Polymers Ltd undervalued or overvalued?

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

3. Is Bhansali Engineering Polymers Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Bhansali Engineering Polymers 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 Bhansali Engg. Poly.:

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.
Bhansali Engineering Polymers Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 7.2%5.9%6.9%15.5%16.7%39.4%19%20.5%64.4%42.1%-
Value Creation Index -0.5-0.6-0.50.10.21.80.40.53.62.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4195076015316261,0321,2251,1041,2921,3941,499
YoY Gr. Rt. %-21%18.6%-11.7%18%64.8%18.7%-9.8%17%7.9%-
Adj EPS 0.60.40.41.31.96.33.1420.121.119.3
YoY Gr. Rt. %--26.7%-6.8%226.8%41.8%231.1%-50.1%28.7%397.5%4.8%-
BVPS (₹) 6.66.66.87.79.815.61821.54159.162
Adj Net Profit 107.46.922.231.510452.267.1333349320
Cash Flow from Ops. 42.4-10.835.756.578.119253.588.1103298-
Debt/CF from Ops. 0.7-5.41.20.61.800000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 14.3%17.4%4.4%7.9%
Adj EPS 48.5%61.8%88.6%4.8%
BVPS 27.543.248.644
Share Price 21.1% 7.6% 24.9% -33.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 4.83.83.714.221.749.618.720.564.342.131.9
Op. Profit Mgn % 6.64.84.68.510.115.67.1834.633.228.2
Net Profit Mgn % 2.41.51.14.2510.14.36.125.825.121.3
Debt to Equity 0.30.50.40.30.800000-
Working Cap Days 17414413315614689801121101370
Cash Conv. Cycle 34312353833231323780

Recent Performance Summary

Net Profit is growing at healthy rate in last 3 years 88.59%

Sales growth is good in last 4 quarters at 11.11%

Return on Equity has declined versus last 3 years average to 31.90%

Sales growth has been subdued in last 3 years 4.41%

Latest Financials - Bhansali Engineering Polymers Ltd.

Standalone Consolidated
TTM EPS (₹) 19.3 19.3
TTM Sales (₹ Cr.) 1,499 1,499
BVPS (₹.) 62 62
Reserves (₹ Cr.) 1,011 1,012
P/BV 1.96 1.98
PE 6.31 6.37
From the Market
52 Week Low / High (₹) 98.00 / 221.80
All Time Low / High (₹) 0.45 / 224.40
Market Cap (₹ Cr.) 2,017
Equity (₹ Cr.) 16.6
Face Value (₹) 1
Industry PE 37.3

Management X-Ray of Bhansali Engg. Poly. :

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 Bhansali Engg. Poly.

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

News

About Bhansali Engineering Polymers Ltd

Bhansali Engineering Polymers (BEPL) is a leading name in the petrochemical sector in India. BEPL is a vertically integrated petrochemical company that is into manufacturing of ABS (Acrylonitrile Butadiene Styrene) -- a raw material used extensively across industries like automobiles, home appliances, telecommunications, luggage and other sectors.

The company manufactures and produces variety of specialty grades and 1200 different colour shades meeting customers requirements in different applications. The company has dedicated R & D team that helps to develop its application in shortest possible time.

For more than a decade, BEPL has been a trusted partner for the makers of automobiles, home appliances, telephones, electrical and electronics appliances, business machines, luggage, stationery, novelties and various other products.

Major clients of BEPL include large Indian brands namely Bajaj, Exide, Fiat, Aquaguard, Beetel, VIP, Samsonite, BPL, Onida, Sanyo, Videocon, Voltas, Whirpool, Electrolux, Crompton, IFB, LG, Kenstar, Tata, Toyota, Yahama and may more.

Products

  • Abstron
  • Santron
  • High Rubber Graft

History

Bhansali Engineering Polymers (BEPL) was incorporated in the year 1986. The company was promoted by Shri B M Bhansali. BEPL was the first company in India to start manufacturing quality ABS resins using foreign technology. Its plant is located at Satnoor, which was set up in technical collaboration with Sumitomo Chemical Engineering Co / Sumitomo Nagautuck, Japan at a capital cost of Rs 3,670 lakh. This plant became operational in January 1990 and started manufacturing general purpose injection moulding, extrusion and specialty grades of ABS and its alloys.

The company enhanced its capacity from 7500 TPA in 1990 to 15,000 TPA in the year 1996. In 2000, company acquired Vadodara-based Polychem and also added facility for manufacturing merchant SAN. With further expansion and addition of balancing equipment at both units at Satnoor and Vadodara, its installed capacity exceeded 30000 TPA in 2002. Continuing on the path of expansion, BEPL acquired Rajasthan Polymers Resins (RPRL) in the year 2004 to further enhance the production capacity to 48,000 TPA. BEPL has taken a step for a big expansion leap towards 200 KTPA in near future. Moreover, basic layout for 400 KTPA and 600 KTPA expansion has been finalized.

Milestones

  • 1984- The company was incorporated as public limited company in April of that year.
  • 1986- The company signed agreement with Sumitomo of Japan for 7.5 KTPA capacity ABS Plant.
  • 1990- In January, the company started 7.5 KTPA capacity ABS Plant at Satnoor (Madhya Pradesh).
  • 1996- BEPL expanded capacity at the Satnoor plant: 15 KTPA capacity of ABS in March.
  • 1999- In September, the company took over under licence and subsequently purchased Polychem’s 5 KTPA capacity ABS/SAN Plant at Vadodara. 
  • 2002- In September, company ABS/SAN plant at Vadodara Plant 12 KTPA (combined capacity of both the units – 27 KTPA).
  • 2003-2004- The company took over Greaves’ RPRL unit having manufacturing capacity of  20 KTPA.
  • 2005- BEPL implemented ERP package (mySAP) across the organization.
  • 2007- BEPL obtained ISO 9001-2000 certification

Future Plans

BEPL’s ambitious mid-to-long term strategy concentrates on strengthening its vertically integrated business structure. For its petrochemical business, BEPL has plans to further strengthen its foothold and position itself as a major player in main growing markets across the globe. This will be realized by raising the product quality and cost competitiveness through enhanced R&D and marketing abilities.

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