Gujarat State Fertilizers & Chemicals Ltd - Stock Valuation and Financial Performance

BSE: 500690 | NSE: GSFC | Fertilizers | Small Cap

GSFC Share Price

235.20 -4.70 -1.96%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on GSFC

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

Gujarat State Fertilizers & Chemicals stock performance -

mw4me loader
P/E Ratio (SA):
12.60
Market Cap:
9,372.2 Cr.
52-wk low:
122.2
52-wk high:
322.5

Is Gujarat State Fertilizers & Chemicals Ltd an attractive stock to invest in?

1. Is Gujarat State Fertilizers & Chemicals Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Gujarat State Fertilizers & Chemicals Ltd is a below average quality company.

2. Is Gujarat State Fertilizers & Chemicals Ltd undervalued or overvalued?

The key valuation ratios of Gujarat State Fertilizers & Chemicals Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Gujarat State Fertilizers & Chemicals Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Gujarat State Fertilizers & Chemicals Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of GSFC:

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.
Gujarat State Fertilizers & Chemicals 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 % 8%8.6%7.7%6.9%6.8%7%2.4%4.8%8.4%11.1%-
Value Creation
Index
-0.4-0.4-0.5-0.5-0.5-0.5-0.8-0.7-0.4-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 5,4125,3256,1085,2656,2718,5757,6217,5008,99811,2989,403
Sales YoY Gr.--1.6%14.7%-13.8%19.1%36.7%-11.1%-1.6%20%25.6%-
Adj EPS 9.710.611.111.112.513.539.921.932.618.7
YoY Gr.-9.3%4.6%0.4%12.1%8.2%-77.7%227.2%121.9%49.1%-
BVPS (₹) 105.2112138.2165182.2182.4170.6229.5292.8300.2309.9
Adj Net
Profit
3874234434444985381203928711,299744
Cash Flow from Ops. 1,573258-242907361507-23.71,769252929-
Debt/CF from Ops. 0.52.9-5.30.932.1-65.8000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.5%12.5%14%25.6%
Adj EPS 14.4%21.1%121.2%49.1%
BVPS12.4%10.5%20.7%2.5%
Share Price 15.4% 17% 39% 83.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
9.59.88.97.47.27.41.74.98.4116.1
Op. Profit
Mgn %
11.611.711.5109.69.54.67.714.714.48.5
Net Profit
Mgn %
7.27.97.28.47.96.31.65.29.711.57.9
Debt to
Equity
0.20.20.20.10.20.20.2000-
Working Cap
Days
22920121829125420323720716614392
Cash Conv.
Cycle
15813515513449487362332871

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 14.03%

Net Profit is growing at healthy rate in last 3 years 121.23%

Return on Equity has declined versus last 3 years average to 6.10%

Sales growth is not so good in last 4 quarters at -8.41%

Latest Financials - Gujarat State Fertilizers & Chemicals Ltd.

Standalone Consolidated
TTM EPS (₹) 18.7 19.2
TTM Sales (₹ Cr.) 9,403 9,573
BVPS (₹.) 309.9 312.7
Reserves (₹ Cr.) 12,270 12,380
P/BV 0.76 0.75
PE 12.60 12.26
From the Market
52 Week Low / High (₹) 122.20 / 322.45
All Time Low / High (₹) 1.80 / 322.45
Market Cap (₹ Cr.) 9,372
Equity (₹ Cr.) 79.7
Face Value (₹) 2
Industry PE 22

Management X-Ray of GSFC:

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

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
Sales5,4125,3256,1085,2656,2718,5757,6217,5008,99811,298
Operating Expenses 4,8514,7345,4534,7785,7047,8277,3186,9507,6859,681
Manufacturing Costs7566536786107038858828641,2571,519
Material Costs3,2763,2783,8053,1453,9845,8015,1154,7945,2946,877
Employee Cost 334387477510509521714684656656
Other Costs 484415493513508620607608478629
Operating Profit 5615916564875677473035491,3121,617
Operating Profit Margin (%) 10.4%11.1%10.7%9.2%9.0%8.7%4.0%7.3%14.6%14.3%
Other Income 125102665795105109183180146
Interest 451831655161115431015
Depreciation 14510197103119126170176178182
Exceptional Items 0000000000
Profit Before Tax 4955745933754916651275131,3051,568
Tax 153173183-45151722896414274
Profit After Tax 342401409420476494994188911,293
PAT Margin (%) 6.3%7.5%6.7%8.0%7.6%5.8%1.3%5.6%9.9%11.4%
Adjusted EPS (₹)8.610.110.310.511.912.42.510.522.432.5
Dividend Payout Ratio (%)23%22%21%21%18%18%48%21%11%31%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 4,1914,4645,5066,5757,2627,2686,7989,14411,66911,964
Share Capital 80808080808080808080
Reserves 4,1114,3855,4266,4957,1827,1886,7189,06411,58911,884
Minority Interest0000000000
Debt7497031,1907531,0411,0151,5063530
Long Term Debt2241921065220014793000
Short Term Debt5255111,0847018418691,4123530
Trade Payables5813475616008241,000407487766586
Others Liabilities 1,0259381,0801,1001,1131,0691,2461,3521,5381,223
Total Liabilities 6,5456,4528,3379,02910,24010,3519,95711,01913,97513,773

Fixed Assets

Gross Block4,6874,7491,7502,2192,4193,2513,4763,5443,5313,604
Accumulated Depreciation2,6702,791972003144375817468571,030
Net Fixed Assets2,0161,9581,6532,0192,1052,8132,8952,7982,6742,574
CWIP 185260403272761187107117157199
Investments 8278581,6942,4792,7402,3152,0234,2846,2655,279
Inventories6916325857038061,4301,2639081,2991,176
Trade Receivables1,9841,9303,290800967951892479359492
Cash Equivalents 38635540546249252123161,423
Others Assets4554606722,7022,7982,6052,7522,2212,9052,631
Total Assets 6,5456,4528,3379,02910,24010,3519,95711,01913,97513,773

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1,573258-242907361507-241,769252929
PBT 4955745933754916651275131,3051,568
Adjustment 148791181891501522711409185
Changes in Working Capital 1071-244-784408-202-209-3661060-918-258
Tax Paid -141-150-168-66-77-101-5657-226-465
Cash Flow From Investing Activity -412-134-170-238-488-279-266-24-19-40
Capex -302-139-217-249-498-296-302-46-94-142
Net Investments -155-30-2-8-18-22-1-180-20
Others 453549192839364076122
Cash Flow From Financing Activity -938-155410-656133-242267-1,560-125-114
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -55-31-30-100148-105-53-9300
Interest Paid -49-18-29-69-50-59-117-41-4-10
Dividend Paid -79-79-87-105-105-106-106-48-88-100
Others -755-27556-38313928544-1,377-34-4
Net Cash Flow 223-31-2137-13-23185108775
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)8.429.268.216.946.886.81.45.248.5610.94
ROCE (%)10.3711.6210.46.216.898.712.96.3412.6113.39
Asset Turnover Ratio0.850.860.860.630.650.830.750.720.720.81
PAT to CFO Conversion(x)4.60.64-0.592.160.761.03-0.244.230.280.72
Working Capital Days
Receivable Days157128151136514144331714
Inventory Days44433543444864534540
Payable Days62524467655750344336

Gujarat State Fertilizers & Chemicals Ltd Stock News

Gujarat State Fertilizers & Chemicals Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of GSFC on 12-Apr-2024 16:59 is ₹235.2.
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 12-Apr-2024 16:59 the market cap of GSFC stood at ₹9,372.2.
The latest P/E ratio of GSFC as of 12-Apr-2024 16:59 is 12.60.
The latest P/B ratio of GSFC as of 12-Apr-2024 16:59 is 0.76.
The 52-week high of GSFC is ₹322.4 and the 52-week low is ₹122.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GSFC is ₹9,403 ( Cr.) .

About Gujarat State Fertilizers & Chemicals Ltd

Gujarat State Fertilisers & Chemicals (GSFC) incorporated in 1962, is engaged in manufacturing of fertilizers and industrial products. It was earlier known as Gujarat State Fertilizer Company (GSFC) which was joint sector enterprise set up by the Government of Gujarat.

Earlier the equity structure consisted of 49% of State Government and the rest of public and financial institutions. Currently, the State Government has reduced its equity participation to 38.4%. The motive behind formation of this organisation was to support farmers.

The company’s manufacturing units is located at Kosamba, Sikka and Nandesari. It has marketing network spread across India in states like Andhra Pradesh, Chhatisgarh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Daman and Uttar Pradesh.

GSFC has set up several companies such as Gujarat Narmada Valley Fertilizers Company, Gujarat Industries Power Company, Gujarat Green Revolution Company, GSFC Investment and Leasing Company, GSFC-Polymer Unit and GSFC - Fiber Unit.

Products

GSFC has created more than 24 brands of fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.

Industrial Products- Under this it manufactures Anhydrous Ammonia, Argon Gas, Caprolactam, Melamine, Methyl Ethyl Ketoxime, Nylon-6, Oleum and Sulphuric Acid.

Agro products- In this segment the company manufactures a range of fertiliser, bio-fuels and seeds.

Biotech products- The Company manufactures range of biotech products under various brands such as Sardargib, Sardar Eco Green, Sardarvam, Sardartrap and Sardarlures, Sardarneem, Sardaramin and Sardaramin Granules.

Awards

GSFC bags National Award for Excellence in Cost Management for 2006.

The company received National Award for one of the best employers for disabled persons by Ministry of Social Justice and Empowerment, New Delhi.

Outlook

Gujarat State Fertilizers and Chemicals is planning to set up its third diammonium phosphate (DAP) plant at Sihka in Gujarat state.

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