India Glycols Ltd - Stock Valuation and Financial Performance

BSE: 500201 | NSE: INDIAGLYCO | Chemicals | Small Cap

India Glycols Share Price

756.75 0.60 0.08%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on India Glycols

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

India Glycols stock performance -

mw4me loader
P/E Ratio (SA):
15.19
Market Cap:
2,341.2 Cr.
52-wk low:
514
52-wk high:
978.9

Is India Glycols Ltd an attractive stock to invest in?

1. Is India Glycols Ltd a good quality company?

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

2. Is India Glycols Ltd undervalued or overvalued?

The key valuation ratios of India Glycols Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is India Glycols Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of India Glycols 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 India Glycols:

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.
India Glycols 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 % 4.4%3%4.3%7.2%10.3%14.5%8.8%5.8%7.3%6.6%-
Value Creation
Index
-0.7-0.8-0.7-0.5-0.30.0-0.4-0.6-0.5-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,8852,5572,3222,4733,0283,3562,7142,2802,8632,6507,498
Sales YoY Gr.--11.4%-9.2%6.5%22.4%10.8%-19.1%-16%25.6%-7.4%-
Adj EPS 1.6-15.1-0.514.930.854.737.123.441.432.549.8
YoY Gr.--1035.4%NANA106.6%77.8%-32.2%-37%77%-21.6%-
BVPS (₹) 163.3147.1258272.5303.2346.3373.3401.6487.9512.6541.9
Adj Net
Profit
5-46.6-1.746.195.216911572.4128101154
Cash Flow from Ops. -138-1541,223302487148344142114326-
Debt/CF from Ops. -14-13.90.93.21.66.32.67.48.43.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -0.9%-2.6%-0.8%-7.4%
Adj EPS 39.6%1.1%-4.4%-21.6%
BVPS13.6%11.1%11.2%5.1%
Share Price 23.5% 21.9% 19.9% 27.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0.9-9.7-0.35.610.716.810.369.36.59.4
Op. Profit
Mgn %
7.35.487.87.413.511.47.44.612.45.2
Net Profit
Mgn %
0.2-1.8-0.11.93.25.14.23.24.53.82.1
Debt to
Equity
3.84.71.41.20.80.90.80.80.60.7-
Working Cap
Days
15920117213110490105100838945
Cash Conv.
Cycle
3057386-15-32-34-42-26-45-6

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 9.40%

Debt to equity has declined versus last 3 years average to 0.69

Sales growth is good in last 4 quarters at 15.83%

Sales growth has been subdued in last 3 years -0.79%

Net Profit has been subdued in last 3 years -4.36%

Latest Financials - India Glycols Ltd.

Standalone Consolidated
TTM EPS (₹) 49.8 55.3
TTM Sales (₹ Cr.) 7,498 7,498
BVPS (₹.) 541.9 646.9
Reserves (₹ Cr.) 1,647 1,973
P/BV 1.40 1.17
PE 15.19 13.68
From the Market
52 Week Low / High (₹) 514.00 / 978.90
All Time Low / High (₹) 13.30 / 1153.10
Market Cap (₹ Cr.) 2,341
Equity (₹ Cr.) 31
Face Value (₹) 10
Industry PE 47

Management X-Ray of India Glycols:

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

Login/Register to view analysis.

Analyst's Notes

Key Ratios of India Glycols

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
Sales2,8852,5572,3222,4733,0283,3562,7142,2802,8632,650
Operating Expenses 2,6762,4212,1372,2832,8042,9422,4412,1262,7432,353
Manufacturing Costs563546542515568711472458627771
Material Costs1,8791,6151,3121,4481,8671,9031,6801,3121,7141,316
Employee Cost 80868694959991828887
Other Costs 154174197226274229198273315178
Operating Profit 209137185190223414273154121298
Operating Profit Margin (%) 7.3%5.3%8.0%7.7%7.4%12.3%10.0%6.7%4.2%11.2%
Other Income 37581459117282011916231
Interest 14117213912812314193776698
Depreciation 83816568697273767690
Exceptional Items -192-58-6100000201-18
Profit Before Tax -170-117-6654149229126120341123
Tax -50-55-249508138586624
Profit After Tax -120-61-424598148886227599
PAT Margin (%) -4.1%-2.4%-1.8%1.8%3.2%4.4%3.3%2.7%9.6%3.7%
Adjusted EPS (₹)-38.6-19.8-13.714.431.747.928.620.088.931.9
Dividend Payout Ratio (%)-3%0%0%7%13%13%21%30%8%24%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 5064558028469411,0741,1581,2451,5121,588
Share Capital 31313131313131313131
Reserves 4754247718159101,0431,1271,2141,4811,557
Minority Interest0000000000
Debt1,7151,7051,103852687792820918815901
Long Term Debt66234514430173396407508535551
Short Term Debt1,0521,360959823514396413410280350
Trade Payables470243471576778738718582642752
Others Liabilities 5197551,1021,0899391,1101,3311,3291,2991,303
Total Liabilities 3,2093,1583,4783,3633,3453,7154,0274,0744,2674,543

Fixed Assets

Gross Block1,9001,8111,9842,1302,2472,3322,4692,4572,6033,154
Accumulated Depreciation71277967128195266343362378445
Net Fixed Assets1,1881,0321,9172,0022,0522,0662,1262,0942,2242,709
CWIP 1081181677876124163119237125
Investments 5782272626262929292
Inventories547474498511444644679606689753
Trade Receivables442438377398340330574365402436
Cash Equivalents 1581473023521098497101113
Others Assets709867462325354418373764584405
Total Assets 3,2093,1583,4783,3633,3453,7154,0274,0744,2674,543

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -138-1541,223302487148344142114326
PBT -170-117-6654149229126120341123
Adjustment 277234208180186179162120-104162
Changes in Working Capital -240-269108466154-25546-137-12692
Tax Paid -5-3-23-1-5-41-18-21-50
Cash Flow From Investing Activity 2155-79-41-145-133-156-15777-330
Capex -88122-94-42-129-139-155-151-380-435
Net Investments 18173200-30055
Others -9125120-1662-645649
Cash Flow From Financing Activity 106-1-1,161-261-3427-21216-1880
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -161-179-143-131-123-142-89-81-66-99
Dividend Paid -9-400-4-15-440-18-23
Others 277182-1,017-130-215163-7898-103122
Net Cash Flow -30-1-171022-2404-5
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-21.07-12.77-6.765.4211.0114.747.945.1619.986.37
ROCE (%)-1.222.223.259.7115.4119.9710.799.0317.098.58
Asset Turnover Ratio1.120.980.991.051.241.451.341.331.581.51
PAT to CFO Conversion(x)N/AN/AN/A6.714.9713.912.290.413.29
Working Capital Days
Receivable Days39514539322432322123
Inventory Days53605451423946433640
Payable Days908199132132145158181130193

India Glycols Ltd Stock News

India Glycols Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of India Glycols on 28-Mar-2024 16:01 is ₹756.8.
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 28-Mar-2024 16:01 the market cap of India Glycols stood at ₹2,341.2.
The latest P/E ratio of India Glycols as of 28-Mar-2024 16:01 is 15.19.
The latest P/B ratio of India Glycols as of 28-Mar-2024 16:01 is 1.40.
The 52-week high of India Glycols is ₹978.9 and the 52-week low is ₹514.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of India Glycols is ₹7,498 ( Cr.) .

About India Glycols Ltd

India Glycols Limited (IGL) is a leading company that manufactures green technology based bulk, specialty and performance chemicals and natural gums, spirits, industrial gases, sugar and nutraceuticals.

The company was established as a single mono-ethylene glycol plant in 1983. Since then, the company has brought together cutting-edge technology, innovation and an unflagging commitment to quality, to manufacture a wide range of products that have found global demand.

Its state-of-the-art, integrated facilities manufacture chemicals including glycols, ethoxylates, glycol ethers and acetates, and various performance chemicals. Its product range spans the chemicals, spirits, herbal and other phytochemical extracts and guar gum, industrial gases and realty sectors, and finds application across an increasing number of industries.

These products are manufactured in compliance with stringent global standards of plant operations, quality and safety. The company’s facilities have been approved and certified by international agencies including Det Norske Veritas (DNV). The operations at all plants are closely monitored through distributed control systems (DCS), which facilitate a high degree of control over the quality of products.

The company’s flagship chemicals division started out with a path-breaking green approach to manufacturing ethylene oxide and derivatives. Using the molasses-ethyl alcohol-ethylene 'green route', the company is the only one of its kind in the world. With the emphasis now increasingly shifting to green manufacturing, the chemical division is well poised to meet the industry’s need for environmentally responsible products and production techniques.

Keeping in mind the critical dependence on agricultural feedstock, the company has taken up several initiatives including backward integration into sugar manufacturing to ensure seamless raw material availability. Other complementary initiatives include co-opting the cane growing community to ensure cane availability while providing adequate returns to the farmer.

Apart from chemicals, the company has a significant presence in the natural active pharmaceuticals and nutraceuticals space with Ennature Biopharma; a well-established natural gum division manufacturing guar gum and a variety of derivatives; a spirits division that manufactures country and Indian-made foreign liquor adhering to the highest quality standards; and Shakumbari Sugar - a well-established player in the Indian sugar industry.

Further, the company has traditionally looked to leverage the export potential of its products. The company has therefore initiated the process of aligning to emerging global trends and has established facilities and operations that are in compliance with global good manufacturing practices.

Business area of the company

The company is one of the leading manufacturers with its presence in Glycols (Bio-Based Specialities and Performance Chemicals), Ethyl Alcohol (Potable Spirits), Plant based APIs and Nutraceuticals, Natural Gums (Bio Polymers) and Derivatives and Industrial Gases. The Bio-based Ethylene Oxide Derivatives business is being transferred to a JV company, details whereof are given under the heading Ethylene Oxide Derivatives (EODs) in this report. Its state-of-the-art manufacturing facilities are working to provide sustainable value added products using the best technologies.

The Company has organised its business into:

A) Chemicals having following segments:-

  • Bio-based Glycols (MEG, DEG, TEG and Heavy Glycols), Glycol Ethers, Glycol Ether Acetates.
  • Ethylene Oxide Derivatives (EODs) (this business is being transferred to a JV company, details whereof are given under the heading Ethylene Oxide Derivatives (EODs) in this report).
  • Power Alcohol (Bio Fuel), Industrial Gases, Natural Gum (Bio Polymers) etc.

B) Ethyl Alcohol (Potable Spirits) and Extra Neutral Alcohol (ENA).

C) Ennature Biopharma (Nutraceuticals)

Products

  • Polyethylene glycols
  • Fatty alcohol ethoxylates
  • Fatty acid ethoxylates
  • Fatty amine ethoxylates
  • Alkyl phenol ethoxylates
  • Castor / natural oil ethoxylates
  • EO / PO co-polymers
  • Polysorbates
  • Glycol ethers and acetates
  • Brake fluids / anti-freeze coolant
  • Performance chemicals
  • Natural gum
  • Extra neutral alcohol
  • Indian-made foreign liquor (IMFL)

Awards

  • 1991: National Safety Award for meritorious performance in industrial safety, in achieving longest accident-free period from Ministry of Labour, Government of India.
  • 1991: National Safety Award for outstanding performance in industrial safety as runner up in achieving lowest average frequency rate from Ministry of Labour, Government of India.
  • 1992: Award of Merit for operating 27,55,364 employee hours without occupational injury or illness from National Safety Council, USA.
  • 1997: Award for Best Project / Entrepreneur in the biomethanation sector from Ireda.
  • 1998: Safety Award in recognition and commendation of services rendered to the cause of safety from British Safety Council, UK.
  • 1999: Safety Award in recognition and commendation of services rendered to the cause of safety from British Safety Council, UK.
  • 2000: Safety Award in recognition and commendation of services rendered to the cause of safety from British Safety Council, UK.
  • 2001: Safety Award in recognition and commendation of services rendered to the cause of safety from British Safety Council, UK.
  • 2002: Safety Award in recognition and commendation of services rendered to the cause of safety from British Safety Council, UK.
  • 2002: National Safety Award for outstanding performance in industrial safety, in achieving longest accident-free period from Ministry of Labour, Government of India.
  • 2002: Perfect Record Award for operating 7,208,784 employee hours without occupational injury or illness from National Safety Council, USA.
  • 2004: Best Performing Power Plant from Wartsila.
  • 2004: International Safety Award in recognition of proven track record of maintaining excellent safety standards from British Safety Council, UK.
  • 2005: International Safety Award in recognition and commendation of services rendered to the cause of safety from British Safety Council, UK.
  • 2008: Best Quality ENA Award in recognition of quality ENA production from Ciab.
  • 2008: Best Enhanced Performance for enhanced performance in exports, northern region from Concor.
  • 2013:  Award of Business Leader of the Year - Innovation for year 2013 conferred to its CMD, U.S. Bhartia from Chemtech CEW Leadership & Excellence Awards.
  • 2014:  India Glycols has been awarded The ICONIC IDC Insights Award 2014 in the manufacturing and logistics vertical from International Data Corporation (IDC).
  • 2014:  India Glycols honoured with the silver award for being one of the highest foreign exchange earners in the Chemicals, Drugs, Pharma and allied sector from Federation of Indian export organization.
  • 2015: Soulmate Premium Whisky won the Gold Award at Monde Selection 2015 for its logo from Organisation International Institute for Quality Selections.
  • 2016:  India Glycols, Kashipur, wins the BIRAC Innovator Award 2016 from BIRAC.
  • 2016:  India Glycols conferred ICC Award for Excellence in Energy Conservation and Management from Indian Chemical Council (ICC).
  • 2016:  India Glycols won the prestigious gold award for outstanding export performance in the 'chemicals panel - large scale sector' category from Basic Chemicals, Cosmetics & Dyes Export Promotion Council.
  • 2017:  CHEMEXCIL awards India Glycols for outstanding export performance from CHEMEXCIL.
  • 2018:  India Glycols honoured for 'efficiency in energy usage in the petrochemical sector' at the FICCI Chemicals and Petrochemicals Awards 2018 from FICCI.

Milestones

  • 1983: Incorporated on November 19, 1983, as UP Glycols Limited.
  • 1986: Renamed as India Glycols Limited on 28th August 1986.
  • 1989: Commercial production commenced at MEG plant from 25th April 1989: capacity, 20,000MTPA.
  • 1994: Commissioning of 13,000MTPA EO purification plant.
  • 1994: Commissioning of 20,000MTPA ethoxylate plant.
  • 1995: De-bottlenecking of MEG facility (20,000 to 25,000 MTPA).
  • 1997: Commissioning of 10,000MTPA formulation plant.
  • 1998: De-bottlenecking of MEG facility (25,000 to 30,000 MTPA).
  • 1998: Commissioning of 6,000MTPA sulphation plant.
  • 1999: Commissioning of 85,000 BL PD new continuous process distillery.
  • 1999: De-bottlenecking of MEG facility (30,000 to 33,000 MTPA).
  • 1999: Increase in power generation capacity (6 to 18 MW).
  • 2001: Commissioning of glycol ether plant.
  • 2001: Commissioning of guar gum facility, 12,000MTPA capacity.
  • 2002: Commissioning of bottling plant.
  • 2002: Expansion of MEG plant to 60,000MTPA.
  • 2003: Addition of GE acetate facility.
  • 2003: Commissioning of ENA plant.
  • 2005: Expansion of MEG production to 1 lakh MTPA.
  • 2005: Commissioning of ASU - III.
  • 2005: Commissioning of RAB unit.
  • 2006: Commissioning of Gorakhpur unit.
  • 2007: Acquisition of Shakumbhari Sugar.
  • 2008: Commissioning of CO2 plant.
  • 2008: Expansion of MEG plant to 200,000MTPA.
  • 2009: Commissioning of Ennature Biopharma, Dehradun.
  • 2009: Commissioning of DEGEE acetate plant.
  • 2009: Expansion of formulation plant - CABS.
  • 2009: Expansion of ethoxylate plant (stirred reactor).
  • 2010: “The Biomass based Cogeneration Project at Gorakhpur registered under CDM project by UNFCCC.”
  • 2016-17: The Company launched ‘Soulmate Blu’, a Premium Whisky brand in semi-premium segment in the states of Uttarakhand and Haryana
  • 2017-18: Launched its premium products under the brand name of “V2 O Vodka” and Smooth in Vodka category, Soulmate in Whisky category and some premium brands in Rum.
  • 2018-19: The Company launched ‘Soulmate Blu’, a Premium Whisky in semi-premium segment in eastern states such as Assam, Odisha in addition to existing States of Uttarakhand, Himachal Pradesh and Haryana
  • 2019-2020: The company started manufacturing of premium quality Hand Sanitizer from its Kashipur and Gorakhpur plants and successfully launched the brand “HandSantol” which got a very good response from the market.
  • 2022: The company commissioned operations in a grain based distillery unit at Gorakhpur.
Read More Read Less
You have 2 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.