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Past 10 year’s financial track record analysis by Moneyworks4me indicates that Heubach Colorants India Ltd is a below average quality company.
The key valuation ratios of Heubach Colorants India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Heubach Colorants India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Dec'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 16.2% | 11.6% | 5.1% | 3.6% | 1.5% | 2.6% | 7.9% | 8.5% | 9.3% | 4.9% | - |
| Value Creation Index ⓘ | 0.2 | -0.2 | -0.6 | -0.7 | -0.9 | -0.8 | -0.4 | -0.4 | -0.3 | -0.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,248 | 1,046 | 912 | 981 | 1,014 | 1,029 | 1,093 | 731 | 840 | 766 | 765 |
| Sales YoY Gr. | - | -16.2% | -12.8% | 7.6% | 3.3% | 1.5% | 6.3% | -33.2% | 14.9% | -8.7% | - |
| Adj EPS ⓘ | 32.2 | 42.9 | 18.3 | 10.4 | 3.9 | 6.9 | 20.4 | 18.8 | 16.5 | 9 | 19.3 |
| YoY Gr. | - | 33.3% | -57.3% | -43.4% | -62.3% | 75.5% | 197.4% | -8.1% | -12.3% | -45.5% | - |
| BVPS (₹) ⓘ | 215.4 | 523.6 | 232 | 291.5 | 270.6 | 267.1 | 282.2 | 176.4 | 179.3 | 187.3 | 202.2 |
| Adj Net Profit ⓘ | 85.8 | 114 | 42.2 | 23.9 | 9 | 15.8 | 47.1 | 43.3 | 38 | 20.7 | 44 |
| Cash Flow from Ops. ⓘ | -31.8 | -59.7 | -119 | 81.6 | -1.1 | 29.4 | 101 | 56.7 | 13.1 | 36.3 | - |
| Debt/CF from Ops. ⓘ | 0 | -0.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -5.3% | -5.4% | -11.2% | -8.7% | ||||
| Adj EPS ⓘ | -13.2% | 18% | -24% | -45.5% | ||||
| BVPSⓘ | -1.5% | -7.1% | -12.8% | 4.5% | ||||
| Share Price | -3.7% | 6.7% | 5.5% | 37% | ||||
Performance Ratio Colour Code Guide ⓘ
| Dec'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 15.9 | 11.6 | 5.1 | 3.6 | 1.4 | 2.6 | 7.4 | 8.2 | 9.3 | 4.9 | 9.9 |
| Op. Profit Mgn % ⓘ | 9.8 | 2.5 | 5.9 | 6.8 | 4.6 | 4.8 | 8.8 | 11.8 | 7.3 | 8 | 10.3 |
| Net Profit Mgn % ⓘ | 6.9 | 10.9 | 4.6 | 2.4 | 0.9 | 1.5 | 4.3 | 5.9 | 4.5 | 2.7 | 5.8 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 113 | 143 | 131 | 149 | 164 | 179 | 186 | 262 | 197 | 220 | 111 |
| Cash Conv. Cycle ⓘ | 28 | 47 | 43 | 44 | 49 | 18 | 17 | 52 | 53 | 66 | 58 |
Return on Equity has increased versus last 3 years average to 9.90%
Sales growth has been subdued in last 3 years -11.17%
Net Profit has been subdued in last 3 years -23.99%
Sales growth is not so good in last 4 quarters at -3.56%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 19.3 | 131.9 |
| TTM Sales (₹ Cr.) | 765 | 962 |
| BVPS (₹.) ⓘ | 202.2 | 0 |
| Reserves (₹ Cr.) ⓘ | 444 | 459 |
| P/BV ⓘ | 2.30 | 0.00 |
| PE ⓘ | 24.12 | 3.53 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 300.90 / 654.00 |
| All Time Low / High (₹) | 35.90 / 1185.00 |
| Market Cap (₹ Cr.) | 1,073 |
| Equity (₹ Cr.) | 23.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 48.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Dec'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,248 | 1,046 | 1,140 | 981 | 1,014 | 1,029 | 1,093 | 731 | 840 | 766 |
| Operating Expenses ⓘ | 1,127 | 1,021 | 1,076 | 914 | 970 | 979 | 998 | 649 | 778 | 705 |
| Manufacturing Costs | 118 | 107 | 113 | 98 | 94 | 88 | 84 | 75 | 116 | 112 |
| Material Costs | 771 | 694 | 719 | 597 | 650 | 433 | 456 | 421 | 519 | 465 |
| Employee Cost | 101 | 98 | 106 | 91 | 91 | 59 | 62 | 63 | 64 | 69 |
| Other Costs ⓘ | 137 | 122 | 137 | 128 | 135 | 400 | 395 | 89 | 79 | 58 |
| Operating Profit ⓘ | 121 | 25 | 64 | 67 | 44 | 49 | 96 | 82 | 62 | 61 |
| Operating Profit Margin (%) | 9.7% | 2.3% | 5.6% | 6.8% | 4.3% | 4.8% | 8.7% | 11.2% | 7.3% | 8.0% |
| Other Income ⓘ | 18 | 14 | 60 | 9 | 28 | 11 | 18 | 15 | 9 | 5 |
| Interest ⓘ | 2 | 1 | 1 | 0 | 1 | 1 | 4 | 3 | 0 | 0 |
| Depreciation ⓘ | 23 | 33 | 50 | 39 | 38 | 29 | 39 | 36 | 20 | 20 |
| Exceptional Items ⓘ | 112 | 1,184 | 0 | 0 | 0 | 0 | 0 | 255 | 0 | -6 |
| Profit Before Tax ⓘ | 226 | 1,187 | 74 | 36 | 33 | 30 | 71 | 313 | 49 | 40 |
| Tax ⓘ | 59 | 244 | 14 | 12 | 12 | 12 | 20 | 94 | 6 | 21 |
| Profit After Tax | 167 | 943 | 59 | 24 | 22 | 19 | 51 | 219 | 43 | 19 |
| PAT Margin (%) | 13.4% | 90.2% | 5.2% | 2.5% | 2.1% | 1.8% | 4.6% | 29.9% | 5.2% | 2.5% |
| Adjusted EPS (₹) | 62.6 | 353.8 | 25.7 | 10.6 | 9.4 | 8.0 | 22.0 | 94.7 | 18.8 | 8.3 |
| Dividend Payout Ratio (%) | 48% | 11% | 583% | 236% | 53% | 124% | 50% | 216% | 0% | 0% |
| PARTICULARS | Dec'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 574 | 1,396 | 669 | 673 | 625 | 616 | 651 | 407 | 414 | 432 |
| Share Capital ⓘ | 27 | 27 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 |
| Reserves ⓘ | 548 | 1,369 | 646 | 650 | 602 | 593 | 628 | 384 | 391 | 409 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 162 | 146 | 146 | 168 | 184 | 189 | 135 | 178 | 170 | 177 |
| Others Liabilities ⓘ | 175 | 291 | 86 | 92 | 84 | 89 | 157 | 63 | 52 | 52 |
| Total Liabilities ⓘ | 912 | 1,842 | 902 | 933 | 893 | 895 | 943 | 649 | 636 | 662 |
Fixed Assets | ||||||||||
| Gross Block | 367 | 523 | 417 | 432 | 447 | 469 | 376 | 280 | 298 | 313 |
| Accumulated Depreciation | 201 | 188 | 53 | 89 | 124 | 160 | 149 | 130 | 148 | 167 |
| Net Fixed Assetsⓘ | 166 | 335 | 365 | 343 | 323 | 309 | 227 | 150 | 150 | 146 |
| CWIP ⓘ | 25 | 13 | 5 | 10 | 10 | 21 | 3 | 9 | 8 | 8 |
| Investmentsⓘ | 267 | 33 | 74 | 112 | 41 | 12 | 81 | 10 | 9 | 3 |
| Inventories | 146 | 163 | 142 | 156 | 168 | 184 | 126 | 135 | 150 | 129 |
| Trade Receivables | 169 | 161 | 177 | 173 | 178 | 182 | 148 | 170 | 168 | 218 |
| Cash Equivalents | 23 | 1,011 | 29 | 32 | 28 | 35 | 32 | 32 | 12 | 39 |
| Others Assetsⓘ | 115 | 126 | 111 | 107 | 145 | 152 | 326 | 145 | 139 | 119 |
| Total Assets ⓘ | 912 | 1,842 | 902 | 933 | 893 | 895 | 943 | 649 | 636 | 662 |
| PARTICULARS | Dec'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -32 | -60 | -148 | 82 | -1 | 29 | 101 | 57 | 13 | 36 |
| PBT ⓘ | 226 | 1,187 | 50 | 36 | 33 | 30 | 71 | 315 | 49 | 40 |
| Adjustment ⓘ | -102 | -1,162 | 19 | 38 | 17 | 37 | 37 | -218 | 15 | 30 |
| Changes in Working Capital ⓘ | -93 | -35 | 3 | 17 | -29 | -27 | 6 | -16 | -38 | -19 |
| Tax Paid ⓘ | -62 | -50 | -221 | -10 | -22 | -11 | -13 | -24 | -13 | -15 |
| Cash Flow From Investing Activity ⓘ | 127 | 1,224 | -35 | -50 | 67 | 7 | -78 | 415 | 5 | -9 |
| Capex | -66 | 955 | -51 | -22 | -26 | -23 | -22 | -9 | 4 | -16 |
| Net Investments | -30 | 391 | 8 | -33 | 90 | 29 | -54 | 494 | 1 | 6 |
| Others ⓘ | 223 | -122 | 8 | 5 | 2 | 1 | -1 | -69 | 0 | 1 |
| Cash Flow From Financing Activityⓘ | -87 | -175 | -799 | -29 | -70 | -28 | -25 | -474 | -35 | 0 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -2 | -2 | -1 | 0 | -1 | 0 | -4 | -3 | 0 | 0 |
| Dividend Paid ⓘ | -85 | -183 | -446 | -28 | -69 | -23 | -12 | -464 | -35 | 0 |
| Others ⓘ | 0 | 9 | -352 | 0 | 0 | -5 | -10 | -7 | 0 | 0 |
| Net Cash Flow ⓘ | 8 | 989 | -983 | 3 | -4 | 8 | -2 | -2 | -17 | 27 |
| PARTICULARS | Dec'13 | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 31 | 95.75 | 5.75 | 3.65 | 3.33 | 2.99 | 8 | 41.31 | 10.55 | 4.53 |
| ROCE (%) | 42.31 | 120.07 | 7.17 | 5.48 | 5.24 | 4.96 | 11.75 | 59.6 | 12.17 | 9.5 |
| Asset Turnover Ratio | 1.53 | 0.81 | 0.9 | 1.16 | 1.13 | 1.15 | 1.19 | 0.92 | 1.31 | 1.18 |
| PAT to CFO Conversion(x) | -0.19 | -0.06 | -2.51 | 3.42 | -0.05 | 1.53 | 1.98 | 0.26 | 0.3 | 1.89 | Working Capital Days |
| Receivable Days | 44 | 54 | 50 | 60 | 62 | 64 | 55 | 79 | 74 | 92 |
| Inventory Days | 42 | 50 | 45 | 51 | 57 | 62 | 52 | 65 | 62 | 66 |
| Payable Days | 82 | 81 | 74 | 96 | 99 | 157 | 130 | 136 | 123 | 136 |
Clariant Chemicals (India) is one of India's leading specialty chemicals companies and is the No. 1 player in pigments, textile chemicals and leather chemicals. The company combines leading edge technology and innovations with superior applications and customer service skills. Clariant is committed to sustainable growth in India. Their 1,200 employees generate sales of Rs 950 crore through four business divisions - Textile, Leather and Paper Chemicals, Pigments and Additives, Functional Chemicals and Masterbatches.
Their innovative products play a key role in their customers' manufacturing and treatment processes and add value to their end products. Their success is based on the knowhow of their people and their ability to identify new customer needs at an early stage and to work together with customers to develop innovative, efficient solutions. Clariant's presence in India through its affiliates goes back to more than five decades. Its journey began in 1947 with the founding of Sandoz Products . The acquisition of the Hoechst specialty chemicals business in 1997 brought Colour-Chem and its subsidiaries Vanavil Dyes and Chemicals and Kundalika Investments into its fold. Thereafter, the acquisition of BTP plc in 2000 led to the integration of a fourth company BTP India into the group's operations in India. In 2006, four of the affiliates were integrated into Colour-Chem and the company was subsequently renamed Clariant Chemicals (India).
Clariant Chemicals (India) represents a valuable repository of manufacturing and marketing experience. Its constituents were all well respected companies who played an invaluable role in the development of the textiles, leather, paints, plastics, printing inks and agrochemicals industries in India.
Divisions:
Textile, Leather and Paper Chemicals-
The division is one of India's leading suppliers of specialty chemicals and dyes for the textile, leather and paper industries. The textile business provides complete solutions from fiber to fabric, through a wide range of chemicals for pre-treatment, dyeing and finishing and also dyes for various substrates and applications. With a state-of-the-art Technical Service center in Thane and four regional laboratories in Surat, Panipat, Tirupur and Bangalore, it ensures quality and speedy service that meets the specific requirements of its customers.
Pigments and Additives-
Clariant Chemicals (India) is India's leading manufacturer and supplier of pigments and their preparations. The company pioneered the manufacture of pigments in India. The division develops and produces pigments for paints, plastics, inks, cosmetics, detergents and special applications like viscose, latex etc. The product range includes high-performance pigments to meet the exacting demands of the automotive, coil coating industries. Printing pigments are supplied to the printing ink industry and, increasingly, for non impact printing, ink jet and laser printing.
Functional Chemicals-
The Functional Chemicals Division is the newest division in Clariant Chemicals (India) . Currently, its activity consists mainly of supplying products from Clariant associate companies - both through indents and through stock and sale - for the Indian Detergents, Crop Protection, Personal Care, Performance Chemicals and Metalworking and Oilfields markets.
Masterbatches-
Clariant Chemicals (India) (then Sandoz) started its Masterbatches business in the nineties with Masterbatches for Plastics and Fibres. As Sandoz, it was the first company in India to bring the concept of Masterbatches to India. The division supplies coloured concentrates, additives and special mixtures of these components.
Milestones:
Awards
2010
-Clariant Chemicals (India) Limited’s Roha site won the ‘Vasundhara Award - 2009
-Clariant Chemicals (India) Limited’s Industrial & Consumer Specialties Business was awarded with the Frost & Sullivan 2010 India Excellence Award.
2011
-Clariant Chemicals (India) Limited has been honored by the Dyestuffs Manufacturers Association of India (DMAI) with two Awards: One for‘Excellent Performance in the field of Pollution Control by a large Scale Unit for the year 2010-2011 and the other for Excellent Performance in the field of Safety & Hazards Control by a Large Scale Unit for the year 2010-11.
2012
-Clariant Chemicals (India) Limited wins National Safety Council Award in Maharashtra.
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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