Nikhil Adhesives Ltd

₹ 126 -1.83%

03 Jul 1:57 p.m.

About

Incorporated in 1986, Nikhil Adhesives Ltd is in the business of manufacturing various types of polymer emulsions and adhesives, and trading of chemicals^[1]

Key Points

Business Segments^[1]
A) Manufacturing of Adhesives
NAL is an ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015 certified multi-product company that manufactures, sells, and exports various types of specialty adhesives and polymer emulsions.

Website BSE

Market Cap ₹ 580 Cr.
Current Price ₹ 126
High / Low ₹ 148 / 100
Stock P/E 43.8
Book Value ₹ 24.8
Dividend Yield 0.16 %
ROCE 16.4 %
ROE 12.3 %
Face Value ₹ 1.00

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Pros

Cons

The company has delivered a poor sales growth of 4.80% over past five 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.

Peer comparison

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	212.78	175.89	198.67	221.21	217.98	224.28	196.69	161.81	160.68	142.08	143.81	130.29	148.02
	199.18	165.17	186.92	211.14	207.08	213.69	188.58	154.61	152.00	135.29	136.27	122.73	139.13
Operating Profit	13.60	10.72	11.75	10.07	10.90	10.59	8.11	7.20	8.68	6.79	7.54	7.56	8.89
OPM %	6.39%	6.09%	5.91%	4.55%	5.00%	4.72%	4.12%	4.45%	5.40%	4.78%	5.24%	5.80%	6.01%
	0.24	0.07	0.10	0.15	0.25	0.14	0.15	0.09	0.10	0.13	0.07	0.05	0.10
Interest	1.85	1.55	1.37	1.40	1.58	1.24	1.45	1.74	1.88	1.51	1.60	1.77	2.09
Depreciation	0.92	0.97	0.99	1.06	1.11	1.11	1.16	1.56	1.38	1.31	1.49	1.67	1.76
Profit before tax	11.07	8.27	9.49	7.76	8.46	8.38	5.65	3.99	5.52	4.10	4.52	4.17	5.14
Tax %	26.65%	24.79%	25.29%	25.13%	27.54%	25.06%	25.13%	27.57%	34.24%	25.12%	23.45%	29.02%	26.85%
	8.13	6.22	7.10	5.82	6.13	6.28	4.23	2.90	3.63	3.07	3.45	2.96	3.76
EPS in Rs	1.77	1.36	1.55	1.27	1.34	1.37	0.92	0.63	0.79	0.67	0.75	0.64	0.82
Raw PDF

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
	181	232	251	266	260	330	446	422	491	814	743	564
	172	220	242	255	248	317	430	403	460	770	709	533
Operating Profit	9	13	8	11	11	13	17	19	31	43	35	31
OPM %	5%	5%	3%	4%	4%	4%	4%	5%	6%	5%	5%	5%
	-1	-4	1	0	0	-0	1	1	0	1	0	0
Interest	4	6	6	8	7	7	8	8	7	6	6	7
Depreciation	2	2	2	2	1	2	2	3	3	4	5	6
Profit before tax	1	0	1	2	3	4	7	9	21	34	24	18
Tax %	62%	30%	30%	12%	33%	34%	30%	23%	26%	26%	28%	26%
	1	0	0	2	2	3	5	7	16	25	17	13
EPS in Rs	0.15	0.07	0.10	0.41	0.52	0.62	1.14	1.53	3.41	5.50	3.71	2.88
Dividend Payout %	55%	0%	0%	0%	0%	16%	9%	7%	4%	4%	5%	7%

Compounded Sales Growth
10 Years:	9%
5 Years:	5%
3 Years:	5%
TTM:	-24%

Compounded Profit Growth
10 Years:	11%
5 Years:	21%
3 Years:	-5%
TTM:	-23%

Stock Price CAGR
10 Years:	47%
5 Years:	52%
3 Years:	20%
1 Year:	3%

Return on Equity
10 Years:	19%
5 Years:	21%
3 Years:	20%
Last Year:	12%

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	4	4	4	4	4	5	5	5	5	5	5	5
Reserves	10	10	10	12	14	30	35	41	56	81	97	109
	32	44	36	35	46	32	34	34	28	28	35	54
	44	58	61	68	67	89	113	111	202	203	159	128
Total Liabilities	90	116	112	119	130	157	186	191	291	316	295	295
	22	25	25	24	23	30	37	44	54	64	76	94
CWIP	3	1	1	0	1	0	0	6	0	1	4	0
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	65	91	86	94	106	127	149	141	236	250	215	202
Total Assets	90	116	112	119	130	157	186	191	291	316	295	295

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
	8	-2	16	13	-4	11	16	21	23	25	21	14
	-9	-3	-0	-2	-1	-6	-10	-12	-7	-15	-19	-17
	1	5	-15	-9	4	-5	-7	-9	-15	-6	-3	10
Net Cash Flow	-0	-0	0	1	-0	-0	-0	-1	1	3	-1	7

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	64	75	62	61	91	86	79	82	112	65	54	65
Inventory Days	42	45	44	41	36	45	39	40	66	41	52	60
Days Payable	88	95	93	95	98	106	95	94	148	87	74	73
Cash Conversion Cycle	18	26	13	7	28	25	23	28	31	19	32	52
Working Capital Days	26	36	27	24	45	36	24	21	22	21	27	44
ROCE %	17%	21%	13%	20%	17%	18%	22%	22%	33%	39%	24%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%
	0.00%	0.00%	1.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	45.56%	45.56%	44.17%	45.56%	45.56%	45.56%	45.58%	45.56%	45.57%	45.57%	45.56%	45.56%
No. of Shareholders	2,966	4,844	4,802	4,773	4,827	7,884	16,124	17,745	18,483	18,635	17,676	16,052

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	64.22%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%	54.44%
	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	35.75%	45.54%	45.56%	45.56%	45.56%	45.56%	45.56%	45.56%
No. of Shareholders	1,520	1,672	1,487	1,476	1,783	4,773	17,745	16,052

* 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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Nikhil Adhesives Ltd

Nikhil Adhesives Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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