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1. Is Refnol Resins & Chemicals Ltd a good quality company?
Past 10 year's financial track record analysis by Moneyworks4me indicates that Refnol Resins & Chemicals Ltd is a average quality company.
2. Is Refnol Resins & Chemicals Ltd undervalued or overvalued?
The key valuation ratios of Refnol Resins & Chemicals Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
3. Is Refnol Resins & Chemicals Ltd a good buy now?
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Refnol Resins & Chemicals 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.
Value Creation ⓘValue Creation Index Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | |||
| ROCE % ⓘ | 0.2% | -8.8% | 3.3% | 23.9% | 11.9% | 5.2% | 8% | 6.1% | 1.4% | 2.3% | - | ||
| Value Creation Index ⓘ | NA | NA | NA | 0.7 | -0.2 | -0.6 | -0.4 | -0.6 | -0.9 | -0.8 | - | ||
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ |
|||||||||||||
| Sales ⓘ | 19 | 15.7 | 20.3 | 22.7 | 24.3 | 27.9 | 31.6 | 26 | 19 | 34.8 | 40 | ||
| YoY Gr. Rt. % | - | -17.3% | 29.1% | 11.7% | 7.1% | 15.2% | 13% | -17.6% | -26.9% | 83% | - | ||
| Adj EPS ⓘ | -2.8 | -4.7 | -1.5 | 2.6 | 2.4 | 0.7 | 2.1 | 1.7 | -1.3 | -0.4 | 0.4 | ||
| YoY Gr. Rt. % | - | NA | NA | NA | -9.1% | -71.6% | 210.3% | -21.3% | -179.5% | NA | - | ||
| BVPS (₹) ⓘ | -3 | -9 | -10.6 | -7.8 | 37.9 | 38.9 | 41.7 | 42 | 41.1 | 40.6 | 40.5 | ||
| Adj Net Profit ⓘ | -0.9 | -1.4 | -0.5 | 0.8 | 0.7 | 0.2 | 0.7 | 0.5 | -0.4 | -0.1 | 0 | ||
| Cash Flow from Ops. ⓘ | 0.5 | 1.7 | 1.5 | 0.7 | 0.2 | 0.3 | 2 | 0.7 | 1.4 | 1.5 | - | ||
| Debt/CF from Ops. ⓘ | 10.7 | 2.8 | 3 | 6.4 | 22.9 | 21.7 | 2.9 | 9.4 | 4.3 | 3.9 | - | ||
CAGR ⓘCAGR Colour Code Guide ⓘ |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Sales ⓘ | 7% | 7.5% | 3.3% | 83% | ||||||||
| Adj EPS ⓘ | NA | -171.3% | -159.3% | NA | ||||||||
| BVPS ⓘ | 0 | 1.4 | -0.9 | -1.3 | ||||||||
| Share Price | 28.9% | 19.6% | 57.8% | 90.9% | ||||||||
Key Financial Parameters ⓘPerformance Ratio Colour Code Guide ⓘ |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'13 | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | ||
| Return on Equity % ⓘ | -19.7 | -53.3 | -35.3 | 59.5 | 10.8 | 1.7 | 5.2 | 3.9 | -3.1 | -1.1 | 1.1 | |
| Op. Profit Mgn % ⓘ | 2.7 | -0.3 | 2.3 | 7.4 | 6.5 | 4.2 | 6.9 | 6.2 | 4.9 | 3.4 | 3.5 | |
| Net Profit Mgn % ⓘ | -4.5 | -9.2 | -2.3 | 3.6 | 3.1 | 0.8 | 2.1 | 2 | -2.1 | -0.4 | 0.3 | |
| Debt to Equity ⓘ | -7.3 | -1.8 | -1.4 | -2.1 | 0.4 | 0.5 | 0.4 | 0.5 | 0.5 | 0.5 | 0 | |
| Working Cap Days ⓘ | 158 | 188 | 154 | 147 | 146 | 148 | 143 | 165 | 216 | 140 | 147 | |
| Cash Conv. Cycle ⓘ | 130 | 156 | 128 | 126 | 90 | 51 | 42 | 62 | 91 | 57 | 0 | |
Return on Equity has increased versus last 3 years average to 1.10%
Sales growth is good in last 4 quarters at 56.43%
Sales growth has been subdued in last 3 years 3.32%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.4 | -2.3 |
| TTM Sales (₹ Cr.) | 39.7 | 59.2 |
| BVPS (₹.) ⓘ | 40.5 | 63.1 |
| Reserves (₹ Cr.) ⓘ | 9 | 16 |
| P/BV ⓘ | 2.31 | 1.48 |
| PE ⓘ | 218.99 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 32.80 / 112.25 |
| All Time Low / High (₹) | 0.50 / 112.25 |
| Market Cap (₹ Cr.) | 28.9 |
| Equity (₹ Cr.) | 3.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 31.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Refnol Resins & Chemicals was incorporated in 1980 as Refnol Oil Refineries Private Limited. Promoted by Khatau Group of Bombay, company was set up with an objective to re-refine waste lubricating oils.
The re-refining business was shut down in 1986 and started manufacturing range of textile sizing chemicals.
Today company operates five business divisions which are as follows:
Textile Sizing Chemicals- The division was started in 1986 and into manufacturing and marketing a comprehensive range of performance chemicals for the sizing of warp yarns. The company markets this product successfully in India and overseas.
Unsaturated & Saturated Polyester Resins - Started in 1989, the division is into manufacturing of unsaturated polyester resins for composite applications of all kinds such as chemical equipments, transportation and marine, construction and architecture.
Today it is India’s first and the largest exporter of such resins delivering successfully to major customers in the Middle East, Europe and South Asia. It also manufactures saturated polyester resins for coil coatings, stoving enamels and special applications.
Garment Wash Chemicals and Textile Enzymes - The company started operation of garment wash chemicals and textile enzymes in 1994 in collaboration with AB Enzymes Finland Oy. The company markets this product in India, Bangladesh, Gulf Cooperation Council countries and Kenya. A full range of garment finishing chemicals and auxiliaries are manufactured and sold together with the enzyme formulations to the garment manufacturing industry in these countries.
Laundry & Cleaning Chemicals - Company commenced manufacturing of laundry and cleaning chemicals in 2002 which was primarily aimed at institutional & industrial users.
Textile Auxiliaries - Started in 2003, this division manufactures full range of chemicals for the textile and fabric manufacturing process, pre-treatment, dyeing & printing, finishing & special applications.
Company’s manufacturing unit is located at Plot No. 23, Phase - III, GIDC Industrial Estate, Naroda, Ahmedabad - 382330, India. It also operates subsidiary under the name Refnol Overseas.
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