Sicagen India Ltd

₹ 78.5 2.00%

25 Nov 9:30 a.m.

About

Incorporated in 2004, Sicagen India is in the business of trading Building materials, Sales & Servicing Power and controls systems, manufacturing of MS barrels and water treatment chemicals^[1]

Key Points

Business Overview:^[1]
Company is an ISO 9001:2015 certified company and part of the Singapore headquartered $2+ billion AM International group, Sicagen has 5 business verticals and 2 subsidiaries.
It is an integrated, value-added solutions provider for Building Materials, Power & Control Systems, Industrial Packaging and Speciality Chemicals for water treatment

Website BSE

Market Cap ₹ 311 Cr.
Current Price ₹ 78.5
High / Low ₹ 119 / 42.6
Stock P/E 21.7
Book Value ₹ 123
Dividend Yield 0.76 %
ROCE 4.38 %
ROE 2.42 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.63 times its book value
Company has delivered good profit growth of 193% CAGR over last 5 years
Promoter holding has increased by 4.93% over last quarter.

Cons

The company has delivered a poor sales growth of -0.61% over past five years.
Company has a low return on equity of 1.64% 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.

Peer comparison

Sector: Trading Industry: Trading

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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
	158.28	229.73	315.55	163.87	245.82	258.19	227.42	166.43	180.08	227.71	221.23	232.26	197.71
	155.39	224.89	307.71	158.96	242.46	251.32	216.05	157.99	174.97	222.48	212.85	222.99	189.44
Operating Profit	2.89	4.84	7.84	4.91	3.36	6.87	11.37	8.44	5.11	5.23	8.38	9.27	8.27
OPM %	1.83%	2.11%	2.48%	3.00%	1.37%	2.66%	5.00%	5.07%	2.84%	2.30%	3.79%	3.99%	4.18%
	-5.07	1.70	2.34	2.18	2.95	1.87	7.55	1.32	1.49	2.85	1.44	2.03	2.72
Interest	1.33	1.58	1.68	1.91	2.05	2.28	2.64	2.59	2.47	2.65	2.94	2.62	2.83
Depreciation	3.19	2.65	2.82	2.08	2.78	2.13	3.55	2.12	2.12	2.20	3.33	2.29	2.31
Profit before tax	-6.70	2.31	5.68	3.10	1.48	4.33	12.73	5.05	2.01	3.23	3.55	6.39	5.85
Tax %	33.58%	35.93%	27.46%	26.77%	37.16%	20.32%	12.25%	24.75%	35.32%	28.17%	12.96%	24.88%	29.23%
	-8.95	1.48	4.12	2.27	0.93	3.45	11.17	3.80	1.30	2.32	3.09	4.80	4.14
EPS in Rs	-2.26	0.37	1.04	0.57	0.24	0.87	2.82	0.96	0.33	0.59	0.78	1.21	1.05
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	1,027	620	645	601	711	738	820	699	542	836	895	795	879
	994	631	644	608	707	737	817	688	533	814	869	768	848
Operating Profit	34	-11	1	-7	3	1	3	11	9	22	27	28	31
OPM %	3%	-2%	0%	-1%	0%	0%	0%	2%	2%	3%	3%	3%	4%
	7	41	18	18	15	15	15	11	8	-0	15	7	9
Interest	11	7	6	6	7	9	9	9	5	6	9	11	11
Depreciation	4	6	5	5	4	5	6	10	10	11	11	10	10
Profit before tax	26	17	8	-1	8	2	3	3	1	5	22	14	19
Tax %	31%	1%	13%	-300%	3%	30%	95%	89%	322%	112%	18%	24%
	18	17	7	1	7	1	0	0	-3	-1	18	10	14
EPS in Rs	4.52	4.27	1.67	0.27	1.89	0.29	0.03	0.09	-0.81	-0.15	4.50	2.65	3.63
Dividend Payout %	22%	19%	36%	224%	32%	206%	1,218%	550%	-74%	-162%	13%	23%

Compounded Sales Growth
10 Years:	3%
5 Years:	-1%
3 Years:	14%
TTM:	6%

Compounded Profit Growth
10 Years:	11%
5 Years:	193%
3 Years:	70%
TTM:	1%

Stock Price CAGR
10 Years:	18%
5 Years:	31%
3 Years:	56%
1 Year:	27%

Return on Equity
10 Years:	1%
5 Years:	1%
3 Years:	2%
Last Year:	2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	40	40	40	40	40	40	40	40	40	40	40	40	40
Reserves	421	441	439	443	345	353	343	336	355	383	400	420	447
	103	73	48	60	89	97	119	96	79	95	121	121	150
	112	119	84	76	105	114	184	133	72	140	68	118	62
Total Liabilities	675	673	610	619	578	604	685	605	546	656	629	699	698
	60	64	59	57	183	203	151	168	168	141	141	140	141
CWIP	2	0	1	2	12	0	0	1	0	0	0	1	0
Investments	100	100	100	100	54	34	26	20	37	70	69	73	86
	513	509	451	460	329	367	507	417	340	445	418	486	471
Total Assets	675	673	610	619	578	604	685	605	546	656	629	699	698

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	16	-14	2	-3	-41	-12	20	-37	31	-2	15	25
	8	17	2	9	5	11	-5	45	-17	18	-4	-3
	-17	-18	-11	4	22	-4	-12	-18	-12	-18	-13	-20
Net Cash Flow	7	-15	-6	10	-13	-5	3	-10	3	-2	-3	2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	44	75	61	71	75	91	119	108	115	107	76	114
Inventory Days	47	70	56	59	70	68	58	78	80	50	65	67
Days Payable	18	35	19	19	32	42	75	60	40	60	24	47
Cash Conversion Cycle	73	110	98	110	113	117	102	126	155	97	117	134
Working Capital Days	66	104	90	106	106	115	110	138	155	121	130	147
ROCE %	7%	2%	2%	1%	3%	2%	3%	3%	2%	4%	4%	4%

Shareholding Pattern

Numbers in percentages

5 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
	38.78%	38.78%	38.78%	45.66%	45.66%	50.57%	55.46%	55.46%	55.46%	55.46%	55.46%	60.39%
	12.33%	12.33%	12.33%	7.34%	7.34%	7.34%	7.34%	7.34%	7.34%	7.34%	7.34%	2.42%
	0.61%	0.61%	0.61%	0.60%	0.60%	0.60%	0.60%	0.60%	0.60%	0.60%	0.60%	0.60%
	48.28%	48.28%	48.28%	46.39%	46.38%	41.49%	36.60%	36.59%	36.60%	36.58%	36.59%	36.58%
No. of Shareholders	28,339	29,644	28,982	27,494	25,689	25,314	25,199	25,160	25,114	24,726	24,309	24,855

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	41.91%	41.91%	41.79%	41.79%	39.85%	38.78%	50.57%	55.46%	60.39%
	10.51%	12.21%	12.33%	12.33%	12.33%	12.33%	7.34%	7.34%	2.42%
	2.50%	0.67%	0.62%	0.61%	0.61%	0.61%	0.60%	0.60%	0.60%
	45.07%	45.21%	45.26%	45.27%	47.20%	48.28%	41.49%	36.58%	36.58%
No. of Shareholders	42,604	41,625	40,834	40,113	39,261	29,644	25,314	24,726	24,855

* 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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Sicagen India Ltd

Sicagen India Ltd

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Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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