Clean Science & Technology Ltd

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Clean Science & Technology Ltd

₹ 1,337 -1.00%
17 May 12:51 p.m.
cleanscience.co.in BSE: 543318 NSE: CLEAN
About

Incorporated in 2003, Clean Science and Technology Ltd is one of the leading chemical manufacturers globally. It manufactures functionally critical specialty chemicals such as Performance Chemicals (MEHQ, BHA, and AP), Pharmaceutical Intermediates (Guaiacol and DCC), and FMCG Chemicals (4-MAP and Anisole). [1]

Key Points

Product Portfolio[1]
Company has the largest capacity in the world for their flagship products.
Performance Chemicals
1. MEHQ No.1 in world.
Used as polymerization inhibitor in acrylic acids, acrylic esters, super absorbent polymers (diapers and sanitary pads),Pre-cursor for agrochemical industry.
2. BHA No.1 in world
Used as anti-oxidant in food and feed industry
3. AP No.1 in world
Used in infant food formulations, breakfast cereals and cosmetics
4. TBHQ No.2 in World
Stabilizer in oil industry
5. HALS No.1 in India
HALS 701 is used in water treatment
HALS 770 is used for UV stabilization in a variety of polymers
Pharma & agro Intermediates
1. Guaiacol : No.1 in India & No.2 in World
Pre-cursor to manufacture APIs for cough syrup
Key raw material to produce Vanillin
2. DCC (Dicyclohexyl Carbodiimide) No.1 in India & No.2 in World
Used as reagent in anti-retroviral
3. p-BQ (Para Benzoquinone) No.1 in India & No.2 in World
Intermediate in agrochemical industry
FMCG Chemicals
1. 4-MAP No.1 in world
Used in UV blocker in sunscreens
2. Anisole : No.1 in world
Precursor to perfumes, insect pheromones, pharmaceuticals
Majority of Anisole produced is used for captive consumption

Website BSE NSE
  • Market Cap ₹ 14,203 Cr.
  • Current Price ₹ 1,337
  • High / Low ₹ 1,622 / 1,275
  • Stock P/E 58.2
  • Book Value ₹ 113
  • Dividend Yield 0.36 %
  • ROCE 29.5 %
  • ROE 22.0 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 29.0%
  • Company has been maintaining a healthy dividend payout of 18.3%

Cons

  • Stock is trading at 11.8 times its book value
  • Working capital days have increased from 128 days to 226 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
134 146 153 181 205 234 248 237 217 188 181 195 228
64 75 84 105 121 143 150 129 112 112 106 108 133
Operating Profit 70 71 69 76 84 91 97 108 105 76 75 87 95
OPM % 52% 49% 45% 42% 41% 39% 39% 46% 48% 40% 41% 44% 42%
6 7 9 7 7 2 3 13 13 13 6 8 14
Interest 0 0 0 0 0 0 0 0 0 0 0 0 1
Depreciation 4 6 6 6 7 8 9 9 10 11 11 11 13
Profit before tax 71 72 71 78 84 85 92 112 108 79 69 83 95
Tax % 26% 24% 25% 25% 26% 26% 26% 25% 25% 25% 25% 25% 26%
53 55 54 58 62 63 68 84 81 59 52 63 70
EPS in Rs 5.00 5.14 5.04 5.46 5.87 5.92 6.40 7.89 7.58 5.55 4.91 5.89 6.61
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
241 393 419 512 685 936 791
167 257 234 253 385 533 459
Operating Profit 74 137 186 260 300 403 332
OPM % 31% 35% 44% 51% 44% 43% 42%
5 11 11 25 30 30 41
Interest 1 0 0 0 0 1 1
Depreciation 8 11 14 17 25 36 46
Profit before tax 70 137 182 267 305 396 326
Tax % 30% 28% 23% 26% 25% 25% 25%
49 98 140 198 228 295 244
EPS in Rs 345.41 689.84 1,051.67 18.68 21.51 27.78 22.97
Dividend Payout % 12% 15% 2% 134% 15% 18% 22%
Compounded Sales Growth
10 Years: %
5 Years: 15%
3 Years: 16%
TTM: -15%
Compounded Profit Growth
10 Years: %
5 Years: 20%
3 Years: 7%
TTM: -17%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -10%
Return on Equity
10 Years: %
5 Years: 33%
3 Years: 29%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 1 1 1 11 11 11 11
Reserves 186 271 341 529 758 999 1,193
1 3 3 0 0 2 2
48 53 85 120 156 140 191
Total Liabilities 236 327 430 660 925 1,152 1,396
102 127 166 186 296 460 636
CWIP 2 4 3 55 44 20 57
Investments 18 75 133 232 191 353 339
114 121 128 187 394 318 363
Total Assets 236 327 430 660 925 1,152 1,396

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
45 85 160 193 127 279 237
-17 -94 -105 -187 -79 -270 -186
-5 -11 -55 -6 -0 -55 -53
Net Cash Flow 23 -20 -0 0 49 -45 -2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 60 55 61 53 82 57 76
Inventory Days 93 79 98 156 143 122 163
Days Payable 85 48 101 180 166 90 143
Cash Conversion Cycle 69 87 58 29 59 89 96
Working Capital Days 60 64 35 32 90 68 226
ROCE % 59% 59% 61% 47% 44%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
94.65% 78.51% 78.51% 78.51% 78.51% 78.50% 78.50% 78.50% 74.98% 74.98% 74.98% 74.98%
0.00% 3.88% 5.05% 5.18% 4.43% 4.43% 3.99% 3.99% 5.84% 6.01% 5.92% 5.88%
0.77% 4.73% 4.28% 4.02% 4.51% 4.48% 4.65% 4.76% 6.41% 5.23% 5.13% 5.04%
4.58% 12.88% 12.16% 12.29% 12.55% 12.58% 12.86% 12.74% 12.78% 13.79% 13.98% 14.11%
No. of Shareholders 312,44,3362,42,6422,63,5932,70,4462,70,6162,75,1022,70,8232,66,9712,85,2592,78,6532,79,395

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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