Borosil Ltd - Stock Valuation and Financial Performance

BSE: 543212 | NSE: BOROLTD | Consumer Durables - Domestic Appliances | Small Cap

Borosil Share Price

355 -3.75 -1.05%
as on 12-Jul'24 16:01

DeciZen - make an informed investing decision on Borosil

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

Borosil stock performance -

mw4me loader
P/E Ratio (SA):
64.49
Market Cap:
4,248.2 Cr.
52-wk low:
284.1
52-wk high:
482.3

Is Borosil Ltd an attractive stock to invest in?

1. Is Borosil Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Borosil Ltd is a below average quality company.

2. Is Borosil Ltd undervalued or overvalued?

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

3. Is Borosil Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Borosil 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 Borosil:

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.
Borosil 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'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 5.2%6.7%5.6%11.2%8.9%-
Value Creation
Index
-0.6-0.5-0.6-0.2-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 345591527750957942
Sales YoY Gr.-71.1%-10.8%42.3%27.6%-
Adj EPS 03.83.37.26.65.5
YoY Gr.-NA-12%116.3%-8.4%-
BVPS (₹) 057.46166.975.461.2
Adj Net
Profit
28.442.937.781.775.166
Cash Flow from Ops. 43.849.818068.468.5-
Debt/CF from Ops. 1.40.9001.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA17.5%27.6%
Adj EPS NANA20.4%-8.4%
BVPSNANA9.6%12.8%
Share Price - - 16.3% -13%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
4.66.85.611.19.28.1
Op. Profit
Mgn %
16.413.914.217.212.514.9
Net Profit
Mgn %
8.27.37.210.97.87
Debt to
Equity
0.10.1000.10.2
Working Cap
Days
018718113014089
Cash Conv.
Cycle
0126118777926

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 17.46%

Net Profit is growing at healthy rate in last 3 years 20.38%

Sales growth is good in last 4 quarters at 25.26%

Return on Equity has declined versus last 3 years average to 8.10%

Latest Financials - Borosil Ltd.

Standalone Consolidated
TTM EPS (₹) 5.5 5.5
TTM Sales (₹ Cr.) 942 942
BVPS (₹.) 61.2 61.2
Reserves (₹ Cr.) 718 718
P/BV 5.82 5.82
PE 64.49 64.50
From the Market
52 Week Low / High (₹) 284.05 / 482.30
All Time Low / High (₹) 132.00 / 498.65
Market Cap (₹ Cr.) 4,248
Equity (₹ Cr.) 11.9
Face Value (₹) 1
Industry PE 76.2

Management X-Ray of Borosil:

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 Borosil

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Sales345591527750957
Operating Expenses 296516452623837
Manufacturing Costs9011073129155
Material Costs93209226283400
Employee Cost 37697287105
Other Costs 7612882124177
Operating Profit 497575127120
Operating Profit Margin (%) 14.2%12.7%14.2%16.9%12.5%
Other Income 1613172426
Interest 95212
Depreciation 2433302731
Exceptional Items 000-119
Profit Before Tax 325060112122
Tax 89203428
Profit After Tax 2441417794
PAT Margin (%) 6.9%7.0%7.7%10.3%9.8%
Adjusted EPS (₹)0.03.63.66.88.2
Dividend Payout Ratio (%)0%0%28%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 602654697763863
Share Capital 011111111
Reserves 602643685752852
Minority Interest00000
Debt56430075
Long Term Debt100053
Short Term Debt55430022
Trade Payables3735384952
Others Liabilities 897990110180
Total Liabilities 7838118259221,170

Fixed Assets

Gross Block343341386324558
Accumulated Depreciation5576105117129
Net Fixed Assets288265281208429
CWIP 1545122243
Investments 175185312279238
Inventories164171130172214
Trade Receivables8077546082
Cash Equivalents 7262810
Others Assets526531153155
Total Assets 7838118259221,170

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 44501806869
PBT 325060112122
Adjustment 293725195
Changes in Working Capital -6-29104-35-45
Tax Paid -11-9-9-27-14
Cash Flow From Investing Activity -25-32-133-36-174
Capex -19-33-14-70-201
Net Investments -28-1187144
Others -4-7-1-37-17
Cash Flow From Financing Activity -17-22-44-1691
Net Proceeds from Shares 00114
Net Proceeds from Borrowing 7-70066
Interest Paid -11-5-1-1-3
Dividend Paid 000-110
Others -13-11-43-424
Net Cash Flow 2-5317-14
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)3.936.556.0410.6111.57
ROCE (%)6.18.038.8915.3314.4
Asset Turnover Ratio0.440.740.640.860.92
PAT to CFO Conversion(x)1.831.224.390.880.73
Working Capital Days
Receivable Days8549452827
Inventory Days1741031047374
Payable Days14462595646

Borosil Ltd Stock News

Borosil Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Borosil on 12-Jul-2024 16:01 is ₹355.0.
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 12-Jul-2024 16:01 the market cap of Borosil stood at ₹4,248.2.
The latest P/E ratio of Borosil as of 12-Jul-2024 16:01 is 64.49.
The latest P/B ratio of Borosil as of 12-Jul-2024 16:01 is 5.82.
The 52-week high of Borosil is ₹482.3 and the 52-week low is ₹284.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Borosil is ₹942.2 ( Cr.) .

About Borosil Ltd

Established in 1962 with humble beginnings, the company started life as the “Industrial & Engineering Apparatus Company Pvt Ltd” founded by Dr. Lele. Even at that time, the company had the lofty vision of being an internationally recognized scientific glass producer. Many things have changed since then - however, its core remains the same - to provide its worldwide customers with solutions that improve their lives.

Today, the company functions under two listed companies - Borosil Ltd, which consists of its consumer products and life sciences division, and Borosil Renewables Ltd., which manufactures and sells solar glass. Borosil enjoys the patronage of millions of customers across India and the globe. In fact, it is proud to say that its products touch its customer's lives in many ways, from school to the home to the workspace.

The National Company Law Tribunal, Mumbai Bench (NCLT), vide its Order pronounced on January 15, 2020, approved the Composite Scheme of Amalgamation and Arrangement ('Scheme') which provided for: (a) Amalgamation of Vyline Glass Works Limited (VGWL), Fennel Investment and Finance Private Limited (FIFPL) and Gujarat Borosil Limited ('GBL') with Borosil Glass Works Limited ('Demerged Company' or 'BGWL') [name changed to Borosil Renewables Limited (BRL)]; and (b) Demerger of the Scientific and Industrial products and Consumer products business of BGWL along with the scientific and industrial products and consumer products business (vested in BGWL pursuant to amalgamation of VGWL with BGWL) into Borosil Limited (‘the Resulting Company’ or ‘BL’).

The Scheme became effective from 12th February, 2020. Appointed date of the Scheme is 1st October 2018. Accordingly, post demerger, Borosil Renewables Limited is carrying on Solar Glass Business and Borosil Limited is carrying on the Scientific and Industrial Product Business and Consumer Product Business including opal ware business.

Business area of the company

Company is engaged in the business of manufacturing and trading of Scientific and Industrial Products (SIP) and Consumer Products (CP). SIP consist of laboratory glassware, instruments, disposable plastics, liquid handling systems and explosion proof lighting glassware. CP consist of microwavable and flameproof kitchenware, glass tumblers, tableware and dinnerware, Appliances and Storage products

History and milestones

  • 1962: Borosil is born as a Public Limited Company to acquire the existing business of Industrial & Engineering Apparatus Company Pvt Ltd, set up by Dr.Lele. The name is inspired by borosilicate glass, the company's main product category. The company begins to sell products under the 'Borosil' brand.
  • 1963: Corning Glass Works, USA joins Borosil Ltd as a Technical and Financial Collaborator. Borosil starts using the Corning brand as well.
  • 1964: Corning becomes the majority shareholder.
  • 1970: Borosil introduces the iconic Vision Glass as its first consumer product, which soon becomes India's most loved and recognized glass.
  • 1981: Following a directive from the Government of India to promote local brands, all products are now sold under the Borosil brand.
  • 1988: Corning divests its entire shareholding to a company promoted by the Kheruka family.
  • 1991: Gujarat Borosil, a subsidiary of Borosil, is set up to manufacture architectural glass with a 230 ton per day facility in Bharuch, Gujarat.
  • 1993: Within 5 years, the company's turnover triples/doubles and profit doubles.
  • 1999: Borosil introduces Borosil International, a range of imported consumer glassware that enjoys instant popularity.
  • 2000: With the growing popularity of microwaves, Borosil, which is already synonymous with heat proof glass, becomes the default choice of housewives for microwavable utensils.
  • 2008: Vyline Glassworks sets up a state of the art manufacturing facility in Bharuch, Gujarat for laboratory and consumer glassware.
  • 2010: Gujarat Borosil sets up India's first and only solar glass production line with an 180 ton per day facility in Bharuch, Gujarat.
  • 2013: Gujarat Borosil introduces anti reflective coating for solar glass, a first of its kind in India. Vyline sets up a second manufacturing facility in Tarapur, Maharashtra for manufacturing its laboratory range
  • 2014: Gujarat Borosil makes the world's first antimony free solar glass.
  • 2015: Borosil diversifies its consumer product range to include small kitchen appliances Borosil launches Labquest - its entry into laboratory instruments.
  • 2016: Borosil acquires Hopewell Tableware Pvt. Ltd in Jaipur, Rajasthan. Borosil acquires controlling interest in Klasspack Pvt Ltd, in Nasik, Maharashtra and enters the pharmaceutical primary packaging market. Borosil launches its first glass lunch box, which is an instant success with its anti-plastic messaging
  • 2017: Gujarat Borosil produces the world's first fully 2 mm solar glass, facilitating a revolutionary 30% increase in solar module efficiency.
  • 2018: Vyline Glassworks Ltd and Hopewell Tableware Pvt Ltd merge into Borosil Ltd.
  • 2019: Borosil Technologies Limited with a mandate to research, design, develop laboratory equipment is set up at Hinjewadi, Pune, India. Borosil's Labquest range of laboratory equipment is manufactured by Borosil Technologies Limited.
  • 2020: The trading in equity shares of the company i.e. Borosil Limited commenced from 22nd July, 2020 on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE).
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