Balrampur Chini Mills Ltd
Balrampur Chini Mills Limited (BCML) is one of the largest integrated sugar companies in India. The allied businesses of the Company comprise distillery operations and cogeneration of power.
BCML is one of the most efficient integrated sugar producers in the country. The Company has grown its capacity by well-planned capacity expansion projects and the acquisition of existing companies over recent years. [1]
- Market Cap ₹ 8,669 Cr.
- Current Price ₹ 430
- High / Low ₹ 486 / 343
- Stock P/E 20.0
- Book Value ₹ 163
- Dividend Yield 0.70 %
- ROCE 13.8 %
- ROE 14.1 %
- Face Value ₹ 1.00
Pros
Cons
- Stock is trading at 2.64 times its book value
- The company has delivered a poor sales growth of 5.47% over past five years.
- Company has a low return on equity of 13.8% over last 3 years.
- Company might be capitalizing the interest cost
- Dividend payout has been low at 14.1% of profits over last 3 years
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
3,275 | 2,665 | 2,987 | 2,757 | 3,460 | 4,343 | 4,286 | 4,741 | 4,812 | 4,846 | 4,666 | 5,594 | |
2,853 | 2,445 | 2,859 | 2,342 | 2,557 | 3,888 | 3,595 | 4,059 | 4,098 | 4,139 | 4,144 | 4,808 | |
Operating Profit | 422 | 220 | 128 | 414 | 903 | 454 | 691 | 682 | 714 | 707 | 522 | 786 |
OPM % | 13% | 8% | 4% | 15% | 26% | 10% | 16% | 14% | 15% | 15% | 11% | 14% |
41 | 20 | 13 | -130 | -9 | 25 | 41 | 39 | 33 | 93 | 54 | 74 | |
Interest | 144 | 118 | 102 | 67 | 55 | 52 | 41 | 64 | 39 | 31 | 49 | 84 |
Depreciation | 108 | 109 | 116 | 110 | 105 | 95 | 96 | 101 | 112 | 114 | 130 | 166 |
Profit before tax | 211 | 13 | -76 | 108 | 734 | 332 | 595 | 555 | 596 | 656 | 397 | 610 |
Tax % | 23% | 71% | 24% | 7% | 19% | 33% | 4% | 8% | 21% | 22% | 31% | 29% |
162 | 4 | -58 | 100 | 592 | 221 | 571 | 509 | 470 | 515 | 276 | 433 | |
EPS in Rs | 6.63 | 0.15 | -2.36 | 4.09 | 25.20 | 9.68 | 24.98 | 23.15 | 22.37 | 25.22 | 13.66 | 21.47 |
Dividend Payout % | 30% | -0% | -0% | -0% | 14% | 26% | 10% | 11% | 11% | 10% | 18% | 14% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 5% |
3 Years: | 5% |
TTM: | 20% |
Compounded Profit Growth | |
---|---|
10 Years: | 55% |
5 Years: | -5% |
3 Years: | -2% |
TTM: | 58% |
Stock Price CAGR | |
---|---|
10 Years: | 18% |
5 Years: | 25% |
3 Years: | 6% |
1 Year: | 12% |
Return on Equity | |
---|---|
10 Years: | 18% |
5 Years: | 16% |
3 Years: | 14% |
Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 24 | 24 | 24 | 24 | 24 | 23 | 23 | 22 | 21 | 20 | 20 | 20 |
Reserves | 1,299 | 1,194 | 1,105 | 1,207 | 1,518 | 1,564 | 2,060 | 2,348 | 2,543 | 2,738 | 2,855 | 3,259 |
1,760 | 1,524 | 1,675 | 1,661 | 1,782 | 990 | 1,734 | 1,482 | 1,240 | 1,211 | 1,880 | 2,009 | |
1,143 | 1,415 | 1,099 | 804 | 672 | 1,084 | 841 | 896 | 758 | 508 | 647 | 639 | |
Total Liabilities | 4,226 | 4,157 | 3,903 | 3,697 | 3,995 | 3,661 | 4,657 | 4,749 | 4,562 | 4,477 | 5,402 | 5,928 |
1,521 | 1,522 | 1,375 | 1,339 | 1,412 | 1,446 | 1,422 | 1,624 | 1,599 | 1,634 | 2,599 | 2,639 | |
CWIP | 5 | 0 | 8 | 86 | 6 | 11 | 46 | 12 | 14 | 204 | 24 | 46 |
Investments | 43 | 41 | 41 | 48 | 45 | 83 | 120 | 185 | 177 | 158 | 236 | 181 |
2,657 | 2,594 | 2,479 | 2,224 | 2,532 | 2,121 | 3,070 | 2,927 | 2,772 | 2,482 | 2,543 | 3,062 | |
Total Assets | 4,226 | 4,157 | 3,903 | 3,697 | 3,995 | 3,661 | 4,657 | 4,749 | 4,562 | 4,477 | 5,402 | 5,928 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
555 | 462 | -76 | 147 | 346 | 1,180 | -523 | 850 | 649 | 695 | 453 | 178 | |
-8 | -63 | -23 | -147 | -117 | -159 | -159 | -305 | -81 | -309 | -859 | -225 | |
-371 | -447 | 38 | -72 | -233 | -1,020 | 682 | -546 | -569 | -385 | 406 | 47 | |
Net Cash Flow | 177 | -48 | -62 | -72 | -4 | 0 | -0 | -1 | -1 | -0 | -0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 20 | 9 | 19 | 26 | 17 | 15 | 38 | 18 | 19 | 10 | 10 | 8 |
Inventory Days | 273 | 365 | 243 | 344 | 391 | 189 | 277 | 239 | 251 | 232 | 248 | 267 |
Days Payable | 103 | 177 | 107 | 77 | 49 | 82 | 72 | 70 | 63 | 29 | 34 | 27 |
Cash Conversion Cycle | 190 | 197 | 155 | 294 | 359 | 123 | 243 | 188 | 207 | 213 | 224 | 248 |
Working Capital Days | 118 | 122 | 148 | 182 | 202 | 88 | 186 | 152 | 156 | 147 | 156 | 169 |
ROCE % | 11% | 5% | 1% | 12% | 26% | 13% | 20% | 16% | 16% | 16% | 10% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Directorate
17h - Re-appointment of Ms. Veena Hingarh as an Independent Director of the Company for a 2nd term of 5 consecutive years with effect from 31st August, …
- Board Meeting Outcome for Outcome Of Board Meeting Held On 29Th June, 2024 17h
- Closure of Trading Window 26 Jun
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Announcement under Regulation 30 (LODR)-Newspaper Publication
31 May - Copies of Newspaper notice published in Business Standard (English) and Arthik Lipi (Bengali) on 31st May, 2024 along with copy of reminder letter sent to …
- Compliances-Reg.24(A)-Annual Secretarial Compliance 29 May
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2009
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Concalls
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May 2024Transcript PPT REC
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Feb 2022TranscriptNotesPPT
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Dec 2018TranscriptPPT
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Oct 2018TranscriptNotesPPT
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Manufacturing Capabilities
The company owns and operates 10 manufacturing plants in Eastern & Central Uttar Pradesh. Their manufacturing facilities are located in Balrampur, Babhnan, Tulsipur, Akbarpur, Gularia, Maizapur, Mankapur, Rauzagaon, Haidergarh and Kumbhi. It has an installed crushing capacity of ~80,000 TCD per day. Its 5 distillery units operate at a capacity of 1050 KLPD. Its 10 co-gen power units generate power output of ~176 MW.
[1][2] The commissioning of distillery at Maizapur is likely to emerge as a game-changer. The
flexibility to consume three different resources will enable this plant to operate ~330 days/yr making the ROI much faster. [3]