Ultramarine & Pigments Ltd

₹ 505 -0.18%

22 Nov 11:13 a.m.

About

Ultramarine & Pigments is engaged in manufacturing and selling of Pigments, Surfactants, IT-Enabled Services, and Business Process Outsourcing (BPO) activities. The Company caters to both domestic and international markets.

Key Points

FY23 Revenue breakup^[1]
Pigments division - 32% (vs 26% in FY22)
Surfactants division - 59% (vs 66% in FY22)
IT Division - 9% (vs 8% in FY22)
Co. is a leading supplier of surfactants to South India-based FMCG players. It also manufactures detergent under the brand name OOB^[2]^[3]

Website BSE

Market Cap ₹ 1,475 Cr.
Current Price ₹ 505
High / Low ₹ 576 / 328
Stock P/E 25.0
Book Value ₹ 371
Dividend Yield 0.96 %
ROCE 9.21 %
ROE 7.00 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 23.8%

Cons

Company has a low return on equity of 8.12% over last 3 years.
Promoter holding has decreased over last 3 years: -3.70%

* 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: Dyes And Pigments

Part of BSE Allcap BSE Commodities BSE SmallCap

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	118	154	130	131	152	150	125	131	146	148	136	161	161
	99	131	110	105	126	117	105	104	122	125	116	134	134
Operating Profit	20	23	20	26	26	32	20	27	24	23	20	26	27
OPM %	17%	15%	16%	20%	17%	22%	16%	21%	17%	16%	15%	16%	17%
	5	1	1	1	7	-1	2	2	5	2	2	3	4
Interest	1	1	1	1	1	1	2	2	2	2	2	2	2
Depreciation	3	3	3	3	4	4	5	5	5	6	6	6	6
Profit before tax	21	20	17	23	28	26	15	22	22	17	14	22	24
Tax %	21%	27%	27%	26%	21%	24%	25%	25%	21%	25%	24%	25%	23%
	17	15	13	17	22	19	11	17	17	13	11	17	19
EPS in Rs	5.75	5.11	4.36	5.86	7.46	6.64	3.75	5.66	5.91	4.43	3.72	5.66	6.38
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	306	308	490	557	561	605
	230	232	406	455	466	509
Operating Profit	77	76	84	102	95	96
OPM %	25%	25%	17%	18%	17%	16%
	11	9	9	11	10	11
Interest	2	2	4	5	7	7
Depreciation	9	9	12	17	22	23
Profit before tax	78	75	78	91	76	78
Tax %	20%	26%	25%	24%	24%
	62	56	58	69	58	59
EPS in Rs	21.24	19.11	19.97	23.70	19.73	20.19
Dividend Payout %	24%	26%	25%	21%	25%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	22%
TTM:	10%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	1%
TTM:	-11%

Stock Price CAGR
10 Years:	21%
5 Years:	22%
3 Years:	10%
1 Year:	31%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	8%
Last Year:	7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	6	6	6	6	6	6
Reserves	297	455	854	730	894	1,077
	29	38	53	75	79	92
	50	61	82	70	97	107
Total Liabilities	381	561	995	881	1,076	1,282
	91	119	152	238	281	273
CWIP	35	30	69	29	30	50
Investments	105	194	551	366	492	676
	149	218	222	248	274	283
Total Assets	381	561	995	881	1,076	1,282

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	48	58	29	62	78
	-39	-20	-63	-55	-51
	-16	13	-7	-2	-18
Net Cash Flow	-7	51	-40	5	10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	47	52	29	29	38
Inventory Days	93	93	93	113	109
Days Payable	80	91	52	53	69
Cash Conversion Cycle	59	54	71	89	79
Working Capital Days	87	95	87	87	90
ROCE %		18%	11%	11%	9%

Shareholding Pattern

Numbers in percentages

3 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	44.53%	44.07%	43.04%	42.96%	42.66%	42.37%	42.37%	41.68%	41.07%	41.04%	41.04%	40.86%
	0.58%	0.54%	0.73%	0.71%	0.67%	0.80%	0.80%	0.80%	0.84%	1.21%	1.28%	1.22%
	0.14%	0.14%	0.15%	0.31%	0.14%	0.82%	0.82%	0.82%	0.82%	0.24%	0.32%	0.32%
	54.75%	55.26%	56.08%	56.02%	56.51%	55.99%	55.99%	56.69%	57.25%	57.51%	57.34%	57.61%
No. of Shareholders	20,800	21,443	22,587	22,691	22,986	23,035	22,999	22,946	22,352	21,539	19,933	19,228

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	52.56%	53.26%	53.73%	52.85%	48.63%	44.07%	42.37%	41.04%	40.86%
	0.11%	0.23%	0.49%	0.98%	0.78%	0.54%	0.80%	1.21%	1.22%
	0.15%	0.39%	0.39%	0.39%	0.13%	0.14%	0.82%	0.24%	0.32%
	47.18%	46.12%	45.39%	45.78%	50.46%	55.26%	55.99%	57.51%	57.61%
No. of Shareholders	8,494	9,613	10,344	9,901	15,562	21,443	23,035	21,539	19,228

* 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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Ultramarine & Pigments Ltd

Ultramarine & Pigments Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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