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BSE: 532935 | NSE: ARIES | Fertilizers | Small Cap
1. Is Aries Agro Ltd a good quality company?
Past 10 year's financial track record analysis by Moneyworks4me indicates that Aries Agro Ltd is a average quality company.
2. Is Aries Agro Ltd undervalued or overvalued?
The key valuation ratios of Aries Agro Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
3. Is Aries Agro Ltd a good buy now?
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Aries Agro Ltd is likely to Rise-somewhat 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'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |||
| ROCE % ⓘ | 10.6% | 10.4% | 9.2% | 11.1% | 11.9% | 10.9% | 9.2% | 13.1% | 10.5% | 9.7% | - | ||
| Value Creation Index ⓘ | -0.2 | -0.3 | -0.3 | -0.2 | -0.2 | -0.2 | -0.3 | -0.1 | -0.3 | -0.3 | - | ||
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ |
|||||||||||||
| Sales ⓘ | 233 | 234 | 208 | 217 | 261 | 265 | 296 | 381 | 432 | 470 | 464 | ||
| YoY Gr. Rt. % | - | 0.5% | -11.3% | 4.4% | 20.4% | 1.6% | 11.6% | 28.8% | 13.2% | 8.8% | - | ||
| Adj EPS ⓘ | 10.3 | 9.3 | 6.2 | 9.2 | 11.5 | 10.9 | 8.7 | 18.5 | 12.7 | 11.1 | 13.1 | ||
| YoY Gr. Rt. % | - | -9.6% | -33.7% | 50% | 24.5% | -5.5% | -19.8% | 112.6% | -31.6% | -12.3% | - | ||
| BVPS (₹) ⓘ | 102.5 | 103.9 | 96.7 | 103.9 | 112.4 | 120.6 | 129.3 | 146.5 | 160.5 | 174.9 | 179.3 | ||
| Adj Net Profit ⓘ | 13.4 | 12.1 | 8 | 12 | 15 | 14.1 | 11.3 | 24.1 | 16.5 | 14.5 | 17 | ||
| Cash Flow from Ops. ⓘ | 24.6 | 31.1 | 25.3 | 29.7 | 30.8 | 48.1 | 57.4 | 55.3 | 66 | 52.7 | - | ||
| Debt/CF from Ops. ⓘ | 5.4 | 3.7 | 4.5 | 3.8 | 4.9 | 3.4 | 2.6 | 2.4 | 1.6 | 1.8 | - | ||
CAGR ⓘCAGR Colour Code Guide ⓘ |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Sales ⓘ | 8.1% | 12.5% | 16.6% | 8.8% | ||||||||
| Adj EPS ⓘ | 0.9% | -0.7% | 8.5% | -12.3% | ||||||||
| BVPSⓘ | 6.1% | 9.2% | 10.6% | 9% | ||||||||
| Share Price | 17.1% | 14.3% | 32.3% | 35.8% | ||||||||
Key Financial Parameters ⓘPerformance Ratio Colour Code Guide ⓘ |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | ||
| Return on Equity % ⓘ | 9.8 | 8.8 | 6.1 | 9.2 | 10.6 | 9.3 | 7 | 13.5 | 8.3 | 6.6 | 7.4 | |
| Op. Profit Mgn % ⓘ | 18.5 | 15.8 | 16.3 | 18.5 | 17.5 | 17 | 14.5 | 15.5 | 11 | 10 | 11.9 | |
| Net Profit Mgn % ⓘ | 5.7 | 5.2 | 3.9 | 5.6 | 5.7 | 5.3 | 3.8 | 6.3 | 3.8 | 3.1 | 3.7 | |
| Debt to Equity ⓘ | 1 | 0.9 | 0.9 | 0.8 | 1 | 1 | 0.9 | 0.7 | 0.5 | 0.4 | - | |
| Working Cap Days ⓘ | 377 | 374 | 373 | 318 | 316 | 371 | 351 | 290 | 261 | 239 | 0 | |
| Cash Conv. Cycle ⓘ | 231 | 239 | 231 | 192 | 165 | 162 | 146 | 125 | 106 | 86 | 0 | |
Sales growth is growing at healthy rate in last 3 years 16.64%
Debt to equity has declined versus last 3 years average to 0.41
Return on Equity has declined versus last 3 years average to 7.40%
Net Profit has been subdued in last 3 years 8.47%
Sales growth is not so good in last 4 quarters at 4.55%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 13.1 | 11.4 |
| TTM Sales (₹ Cr.) | 464 | 467 |
| BVPS (₹.) ⓘ | 179.3 | 190.3 |
| Reserves (₹ Cr.) ⓘ | 220 | 234 |
| P/BV ⓘ | 1.00 | 0.94 |
| PE ⓘ | 13.69 | 15.71 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 126.85 / 242.70 |
| All Time Low / High (₹) | 24.50 / 290.15 |
| Market Cap (₹ Cr.) | 234 |
| Equity (₹ Cr.) | 13 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 16.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Aries Agro was founded by T B Mirchandani and Bala Mirchandani in 1969. It is into the business of manufacturing of micronutrients and other nutritional products for plants and animals. It started its activity by manufacturing a small range of mineral feed additives for animals and birds and then diversified into mineral additives for the agriculture use. Its products were immediately accepted by the consumers and slowly it became the brand leader in the field of mineral nutrition with a range of products including mineral premixes, milk boosters, protein concentrates, vitamin premixes, anti-coccidian and anti-bacterial feed additives.
In 1975, it diversified into nutrients for plant. It had in-house expertise in the area of mineral nutrition and thereby decided to concentrate on the same. It conducted research on compounds that could deliver mineral nutrients to plants more efficiently. The research zeroed in on 'Metal Chelates'. The product had to be manufactured in accordance with the locally available ingredients and expertise which posed a challenge for the company. Through in-house R&D efforts, Aries Agro branched out into agrochemicals in 1975 with the introduction of Chelated Micronutrients. It pioneered the concept of Chelates in India with the introduction of 'Agromin', a micronutrient fertilizer in the year 1975, followed by 'Chelamin' in 1976. Agromin (chelated micronutrients) and Chelamin (chelated zinc) are the company's flagship brands. It is one of the leading manufacturer and seller of Chelates in the country.
The company also conducted in-house R&D to develop bactericides for agriculture. It was amongst the first few to receive license for use of bactericides for agricultural use from the Government of India. This was then followed by the introduction of plant hormones. In 2001, Aries expanded its product line to include secondary nutrients -- sulphur, magnesium and calcium. In the subsequent years, it continued expanding its plant nutrition product line to include value-added, water-soluble complexes of nitrogen (N), phosphorous (P) and potassium (K).
Aries today has several exclusive marketing arrangements with manufacturers of quality plant nutritional products all over the world. All products sourced from abroad are formulated with specific inputs from Aries' market intelligence and technical support from its technical support teams. The R&D efforts of its International partners have therefore taken into account the unique agro-climatic requirements of India. This ensures that all the products that Aries imports from Europe, Turkey, Singapore, USA and South America are all tailor-made to suit Indian conditions. 'Made For India' is indeed, the Aries mantra.
Since the turn of the millennium, Aries has positioned itself as India’s plant nutrients super bazar. It has emerged as India's most respected supplier of quality plant nutrition solutions, having a comprehensive range of primary, secondary and micronutrients all available under the Aries umbrella.
Products
Certification/ Recognition
The company is ISO 9001:2000 certified
Milestones
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
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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