IVP Ltd - Stock Valuation and Financial Performance

BSE: 507580 | NSE: IVP | Chemicals | Small Cap

IVP Share Price

226 8.55 3.93%
as on 11-Oct'24 14:06

DeciZen - make an informed investing decision on IVP

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

IVP stock performance -

mw4me loader
P/E Ratio (SA):
15.46
Market Cap:
224.5 Cr.
52-wk low:
145
52-wk high:
289.8

Is IVP Ltd an attractive stock to invest in?

1. Is IVP Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that IVP Ltd is a average quality company.

2. Is IVP Ltd undervalued or overvalued?

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

3. Is IVP Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of IVP Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of IVP:

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.
IVP 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 % 8.2%19.6%31%23.2%16%4.5%-1.4%7.4%14.9%20.6%-
Value Creation
Index
-0.40.41.20.70.2-0.7-1.1-0.50.10.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 146163155162270320229290557661545
Sales YoY Gr.-12%-5.4%4.4%67.2%18.4%-28.5%26.6%92.1%18.8%-
Adj EPS 2.46.97.710.710.35.4-7.8518.219.914.1
YoY Gr.-187.1%11%39.7%-3.7%-48.1%-246.3%NA262.9%9.2%-
BVPS (₹) 48.95259.670.978.57969.573.388.8114.9128.8
Adj Net
Profit
2.57.17.911.110.75.5-8.15.218.820.515
Cash Flow from Ops. 2.65.114.94.9-30.3-26.756.4-14.1-20.740.6-
Debt/CF from Ops. 1.50.802.8-2.6-5.31.8-8.7-7.63-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 18.3%19.6%42.4%18.8%
Adj EPS 26.4%14%NA9.2%
BVPS10%7.9%18.3%29.4%
Share Price 14.7% 30.8% 24.4% 36.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
4.813.413.516.313.86.8-10.6722.419.511.5
Op. Profit
Mgn %
36.89.611.17.93.90.35.36.66.35.5
Net Profit
Mgn %
1.74.45.16.941.7-3.51.83.43.12.7
Debt to
Equity
0.10.100.211.81.41.61.71-
Working Cap
Days
16314816017119923828925018417379
Cash Conv.
Cycle
104100106103103129160117898917

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 42.43%

Return on Equity has declined versus last 3 years average to 11.50%

Net Profit has been subdued in last 3 years 0.00%

Debt to equity has increased versus last 3 years average to 1.01

Sales growth is not so good in last 4 quarters at -14.15%

Latest Financials - IVP Ltd.

Standalone Consolidated
TTM EPS (₹) 14.1 -
TTM Sales (₹ Cr.) 545 -
BVPS (₹.) 128.8 -
Reserves (₹ Cr.) 123 -
P/BV 1.69 -
PE 15.46 -
From the Market
52 Week Low / High (₹) 145.00 / 289.80
All Time Low / High (₹) 12.10 / 289.80
Market Cap (₹ Cr.) 225
Equity (₹ Cr.) 10.3
Face Value (₹) 10
Industry PE 60

Management X-Ray of IVP:

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 IVP

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales163155162270320229290557661546
Operating Expenses 153140144249311229275522621519
Manufacturing Costs1212210121313202523
Material Costs126106121212264180224460547442
Employee Cost 58912131413151719
Other Costs 9141315222325263234
Operating Profit 111517219014354027
Operating Profit Margin (%) 6.6%9.4%10.8%7.7%2.9%0.0%5.0%6.3%6.0%5.0%
Other Income 1511224434
Interest 1003810710129
Depreciation 1113355556
Exceptional Items 00000000130
Profit Before Tax 101817160-137233817
Tax 4866-3-426104
Profit After Tax 71011103-95182812
PAT Margin (%) 4.2%6.7%6.7%3.8%1.1%-3.8%1.6%3.2%4.2%2.2%
Adjusted EPS (₹)6.710.110.510.13.3-8.34.417.127.111.9
Dividend Payout Ratio (%)30%20%19%20%31%0%23%9%6%8%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 5563738182727692119130
Share Capital 10101010101010101010
Reserves 4552637171616581108119
Minority Interest0000000000
Debt4014781439912215712089
Long Term Debt0000000000
Short Term Debt4014781439912215712089
Trade Payables152026634445100112134105
Others Liabilities 1922214930232736127
Total Liabilities 93105134271297239325397384331

Fixed Assets

Gross Block4130495775107107104108111
Accumulated Depreciation26141316182327303439
Net Fixed Assets15163541578479747371
CWIP 012172700022
Investments 0000300000
Inventories11182760493072799276
Trade Receivables60556010712392139208208171
Cash Equivalents 31143302112
Others Assets336423731313499
Total Assets 93105134271297239325397384331

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 5155-30-2756-14-214145
PBT 101817160-137233817
Adjustment 221611191516619
Changes in Working Capital -42-7-47-3651-36-59315
Tax Paid -3-7-6-5-200-1-7-5
Cash Flow From Investing Activity -30-24-28-28-50-310-3
Capex -30-24-28-28-50-3-6-4
Net Investments 00000000150
Others 0000000000
Cash Flow From Financing Activity -2-775854-541623-51-41
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -100-3-8-9-7-11-12-9
Dividend Paid -1-2-2-2-2-10-1-2-2
Others 0-4106365-442334-37-30
Net Cash Flow 08-1100-31-101
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)13.3118.0816.0413.474.16-11.246.121.0626.649.89
ROCE (%)19.5931.0123.1916.034.53-1.357.414.9220.6311.08
Asset Turnover Ratio1.981.741.511.361.130.851.031.541.691.53
PAT to CFO Conversion(x)0.711.50.45-3-9N/A-2.8-1.171.463.75
Working Capital Days
Receivable Days115123116110131171146114115127
Inventory Days25314557626365504756
Payable Days476069777490118848298

IVP Ltd Stock News

IVP Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of IVP on 11-Oct-2024 14:06 is ₹226.0.
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 11-Oct-2024 14:06 the market cap of IVP stood at ₹224.5.
The latest P/E ratio of IVP as of 11-Oct-2024 14:06 is 15.46.
The latest P/B ratio of IVP as of 11-Oct-2024 14:06 is 1.69.
The 52-week high of IVP is ₹289.8 and the 52-week low is ₹145.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of IVP is ₹544.8 ( Cr.) .

About IVP Ltd

IVP Company was incorporated on July 5, 1929 at Mumbai. The Company Manufacture vegetable oils & vanaspati Margarine, Plastics Minar Chemicals, Foundry, products, Spark Plugs & Industrial Ceramics. IVP Limited was the first large scale Indian venture that offered the latest technology to the Foundry Industry in India.This was way back in 1964.Today the company is a leader in resins and binder systems and continues to maintain its position of performance.

The products range of the company includes the complete spectrum of foundry chemicals like alkyde resins, phenolic resins, refractory coatings and fluxes.

IVP’s Foundry Chemicals Division has always dedicated itself to the development and manufacture of a wide range of high quality Foundry Chemicals, to enable Foundries to enhance the Quality of their Castings and improve Productivity levels.

Their products have always been manufactured with an aim to enhance Productivity, Quality, Economy, and User friendliness, while not at all compromising on Quality, Consistency and Environment friendliness. To achieve this they manufacture products in an individual, electronically monitored, accurately controlled & tested batches. Their Production process and Production equipments meets the environmental regulations.

IVP provides an excellent cultured work environment that is open and congenial to growth as well as learning. Therefore, IVP is driven with commitment by highly qualified, dedicated and technologically innovative people.

Product range of the company includes:

  • Binders- In its foundry range of phenolic resins, it has shell-mold resins and organic non-heating self-curing foundry-use resins in a rich assortment of grades. It can provide shell-mold resins to comply with versatile requirements such as high mechanical strength, quick curing, peel-back resistance, low odor, ease of collapse after molding and low expansion. For non-heating self-curing foundry-use resins, it provide resins compatible with the cold-box system which improve curing speed and save energy.
  • Coatings.
  • Innoculants & Fluxes.

Milestones:

  • 1929 - The Company was incorporated on 5th July at Mumbai. The Company Manufacture vegetable oils & vanaspati Margarine, Plastics Minar Chemicals, Foundry, products, Spark Plugs & Industrial Ceramics.
  • 1939 - 1,100 Bonus shares issued in the proportion 1:10.
  • 1947 - 6,050 Bonus shares issued in the proportion 1:2.
  • 1954 - 3,025 Bonus shares issued in the proportion 1:6.
  • 1963 - 3,025 Bonus shares issued in the proportion 1:7.
  • 1966 - 4,840 Bonus shares issued in the proportion 1:5.
  • 1973 - 11,616 Bonus shares issued in the proportion 2:5.
  • 1976 - 10,164 Bonus shares issued in the proportion 1:4.
  • 1979 - Shares subdivided during 1978. 5,08,200 Bonus shares issued in the proportion 1:1.
  • 1982 - 3,38,800 Rights equity shares allotted (Prop. 1:3; Prem. Rs 1.25 per share) on 22.6.82.
  • 1984 - The Company revalued its freehold land, buildings, plant and machinery relating to its Mumbai factory as on 31st December.
  • 1985 - 6,77,600 Bonus Equity shares issued in propn. 1:2 and allotted on 9.4.1985.
  • 1986 - During November the company signed technical collaboration agreement with M/s Feldmuhle Aktiengesells Chaft, (Feldmuhle Akg) West Germany for acquisation of knowhow for the manufacture high alumina, Ceramic, textile thread guides using injection moulding technology. The Company enunciated a modernisation-cum-diversification programme.    -Another project was taken up to set up a new unit at Kumbalagudu near Bangalore to manufacture foundry and other industrial chemicals.
  • 1987 - The Company issued 2,33,540 No. of equity shares of Rs 10 each at a premium of Rs 10 per share as follows: 1,01,640 shares on rights basis to the existing shareholders of the Company in the ratio 1:20; 1,20,000 shares to financial institutions (UTI), LIC and GIC) and 11,900 shares to employees/workers. 28,385 additional shares were also issued at a premium of Rs 10 per shares to retain oversubscription and allotted as follows: 25,410 shares to shareholders and 2,975 shares to employees.  - The Company proposed to issue equity shares/convertible debentures upto a maximum of Rs 30 crores on a rights-cum-public basis subject to all necessary approvals.
  • The Company proposed to issue 68,84,175 bonus equity shares in proportion 1:1. 2,61,925 Bonus Equity shares issued (Prem. Rs. 10 per share) in June 1987.
  • 1988 - (15 months) the Company entered into a collaboration agreement with M/s. Industries Magneti Marelli Sp. A of Italy for manufacture of improved types of spark plugs. Also approval was received for technical collaboration, agreement with M/s London & Scandinavian Metallurgical Co Ltd UK for updating its technology in its steel plants.
  • It would also enable updating of its ingot casting products such as hot topping tiles, corner pieces etc. and introduce latest products such as Tundish liners, impact pads etc.
  • 1989 - 22,94,725 Bonus Equity shares issued in prop. 1:1.
  • 1991 - The Company had undertaken expansion and modernisation of its industrial ceramics and industrial chemicals division. - 22,94,725 Bonus Equity share issued in prop. 1:2.
  • 1992 - The Company entered into two technical collaborations for high alumina ceramics with Cerasiv GmbH, Germany, one for the manufacture of high alumina faucet discs, an import substitute item and the second for upgrading and increasing the product range of industrial ceramics division.
  • 1996 - 34,42,088 Bonus shares issued in prop. 1:2.
  • 2001 - Mr. S.N. Bhatri has been appointed Director on the board effective from 29th January.
  • 2002-Mr Shiraz Abdul Razak Allana has been appointed as a Director on the Board of IVP Ltd wef June 18, 2002.
  • 2007-Mr. A.R.J. Allana, the chairman of the Company, announced his retirement due to health reasons
  • 2007-Mr. Shiraz Allana, a businessman having vast experience in Global Trading and Food Processing has been elected as Chairman of IVP Limited
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