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Refnol Resins & Chemicals Ltd. Stock Analysis

Small Cap
Evaluated by 90 users | BSE: 530815 | NSE: |
Chemicals
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...

Analysis of Financial Track Record

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.
Value Creation
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 12.46%6.66%-10.31%0.15%-8.76%3.33%23.9%11.89%5.16%7.97%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 25.424.118.91915.720.322.724.327.931.6
Y-o-Y Gr. Rt.--5.1%-21.7%0.6%-17.3%29.1%11.7%7.1%15.2%13%
Adjusted EPS (Rs.) 2.370.1-6.96-2.78-4.66-1.522.632.390.682.11
Y-o-Y Gr. Rt.--95.8%-7060%NANANANA-9.1%-71.6%210.3%
Book Value per Share (Rs.) 8.17.450.21-3.04-9.02-10.64-7.8337.8938.8941.68
Adjusted Net Profit 0.70-2.2-0.9-1.4-0.50.80.70.20.7
Net Op. Cash Flow (Rs. Cr.) 0.1-0.40.10.51.71.50.70.20.32
Debt to Cash Flow from Ops 39.41-11.6635.2310.662.82.956.3622.9121.722.85
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Refnol Resins & Chemicals Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 2.4%15%11.7%13%
Adjusted EPS -1.3%NA-7.1%210.3%
Book Value per Share 20007.2
Share Price 12.4% 23.1% -15.4% 12.2%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) 9.870.4-34.59-19.7-53.25-35.3459.4810.841.735.16
Operating Profit Margin (%) 5.653.71-3.052.68-0.342.347.366.494.196.93
Net Profit Margin (%) 2.890.13-11.4-4.53-9.16-2.323.593.050.752.07
Debt to Equity 1.311.9516.44-7.25-1.81-1.41-2.080.410.480.44
Working Capital Days 157178193158188154147146148143
Cash Conversion Cycle 42103164130156128126905142
Entity Percentage Holding
Promoters 53.58%
Non-Institutions 46.42%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Refnol Resins & Chem's performance infers:

Refnol Resins & Chem earnings have grown by 0%, whereas share price has appreciated 23.1% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Refnol Resins & Chem share prices over the last 10 years. Here is what we found out:

Refnol Resins & Chem share price has appreciated 1.7% annually over the past ten years.

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

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.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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