Bengal & Assam Company Ltd

₹ 9,250 -2.18%

21 Nov 4:00 p.m.

About

Bengal & Assam Company Limited is a Core Investment Company registered with the RBI. Its objective is to hold investments in its subsidiaries, other group companies, money market mutual funds etc., as prescribed by the RBI. ^[1]

Key Points

Holding Company
BACL majorly holds investments in almost all the group companies of the JK group, which was founded in the year 1918. BACL held ~97% of its total assets in the form of investments in equity share and preference share capital, subsidiaries and group companies, listed companies, and unlisted companies as of FY23. The company has a notable stake in prominent group companies, including JK Lakshmi Cement Ltd, JK Tyre & Industries Ltd., JK Fenner (India) Ltd., JK Paper Ltd, JK Agri Genetics Ltd., Umang Dairies Ltd., and Divyashree Company Ltd. ^[1]

Website BSE

Market Cap ₹ 10,449 Cr.
Current Price ₹ 9,250
High / Low ₹ 11,499 / 7,299
Stock P/E 9.09
Book Value ₹ 8,330
Dividend Yield 0.43 %
ROCE 14.1 %
ROE 22.3 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 1.11 times its book value
Company has delivered good profit growth of 33.7% CAGR over last 5 years

Cons

The company has delivered a poor sales growth of 0.67% over past five years.
Earnings include an other income of Rs.3,166 Cr.

* 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: Finance Industry: Finance & Investments

Part of BSE Allcap BSE Financial Services 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
	3,380	3,473	3,702	4,167	4,228	3,993	4,103	4,241	4,377	3,777	523	528	590
	3,002	3,165	3,445	3,814	3,847	3,619	3,622	3,710	3,697	3,224	413	445	432
Operating Profit	377	307	257	353	381	374	481	531	680	553	110	83	157
OPM %	11%	9%	7%	8%	9%	9%	12%	13%	16%	15%	21%	16%	27%
	58	118	191	149	99	191	201	18	14	3,098	28	17	24
Interest	115	108	109	107	117	129	135	129	119	106	10	10	10
Depreciation	107	106	108	112	110	114	120	120	122	114	17	17	17
Profit before tax	212	212	232	283	252	322	427	299	452	3,431	111	73	154
Tax %	28%	19%	8%	14%	17%	16%	19%	33%	32%	11%	25%	28%	20%
	153	170	214	244	210	272	345	378	437	3,062	317	256	128
EPS in Rs	111.33	128.55	172.26	195.57	168.24	212.38	253.91	263.66	283.68	2,622.08	275.57	219.90	113.29
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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
	1,144	1,251	1,371	1,438	1,560	1,531	12,534	10,122	10,439	13,609	16,521	12,962	5,418
	1,000	1,133	1,205	1,243	1,283	1,247	11,151	8,858	8,937	12,278	14,903	11,044	4,514
Operating Profit	144	118	166	195	277	284	1,383	1,263	1,502	1,330	1,618	1,918	904
OPM %	13%	9%	12%	14%	18%	19%	11%	12%	14%	10%	10%	15%	17%
	29	101	27	26	28	29	-33	-76	52	26	-7	2,929	3,166
Interest	91	86	84	94	93	164	574	608	504	449	488	364	136
Depreciation	32	33	34	37	40	42	367	420	428	428	456	373	165
Profit before tax	49	99	74	90	171	108	409	159	622	479	667	4,109	3,769
Tax %	22%	22%	19%	24%	24%	29%	34%	-87%	38%	35%	32%	16%
	38	77	178	250	345	207	457	522	678	731	1,071	4,194	3,763
EPS in Rs	40.19	83.65	199.70	279.03	382.63	231.31	415.28	402.92	450.08	555.74	830.10	3,445.00	3,230.84
Dividend Payout %	10%	6%	4%	4%	3%	4%	3%	4%	2%	3%	3%	1%

Compounded Sales Growth
10 Years:	26%
5 Years:	1%
3 Years:	7%
TTM:	-68%

Compounded Profit Growth
10 Years:	56%
5 Years:	34%
3 Years:	49%
TTM:	0%

Stock Price CAGR
10 Years:	33%
5 Years:	50%
3 Years:	67%
1 Year:	15%

Return on Equity
10 Years:	17%
5 Years:	18%
3 Years:	19%
Last Year:	22%

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	9	9	9	9	9	9	11	11	11	11	11	11	11
Reserves	455	522	1,274	1,514	1,813	2,005	2,991	3,363	3,904	4,533	5,502	9,044	9,398
	483	371	410	444	422	348	6,474	6,093	5,110	5,527	5,185	422	460
	294	303	314	328	347	416	4,734	4,833	5,418	6,155	6,527	960	993
Total Liabilities	1,241	1,205	2,006	2,294	2,591	2,777	14,211	14,300	14,443	16,226	17,226	10,437	10,863
	395	376	355	377	366	391	6,701	6,810	6,647	6,841	6,931	461	461
CWIP	4	4	9	3	20	11	287	295	328	136	232	22	8
Investments	578	564	1,289	1,508	1,703	1,984	1,819	2,085	2,423	2,749	3,602	9,090	9,468
	264	261	353	406	502	391	5,404	5,110	5,045	6,500	6,460	864	926
Total Assets	1,241	1,205	2,006	2,294	2,591	2,777	14,211	14,300	14,443	16,226	17,226	10,437	10,863

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
	128	139	109	144	113	102	993	1,499	1,780	351	1,437	1,817
	-64	44	-105	-102	54	-163	-368	-348	-177	-188	-647	-1,392
	-77	-183	-3	-37	-172	64	-567	-1,191	-1,567	-144	-778	-590
Net Cash Flow	-14	-0	1	4	-5	3	58	-39	37	19	12	-165

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	39	34	34	32	29	32	65	73	63	61	57	9
Inventory Days	24	23	24	25	27	28	89	118	120	114	91	20
Days Payable	22	28	30	32	32	30	81	114	101	96	70	9
Cash Conversion Cycle	41	29	28	26	24	30	73	77	81	79	78	20
Working Capital Days	20	11	13	16	40	16	61	56	40	51	42	9
ROCE %	14%	12%	12%	10%	12%	11%	15%	8%	10%	8%	10%	14%

Shareholding Pattern

Numbers in percentages

8 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
	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	72.66%	73.02%	73.02%	73.02%	73.02%
	0.00%	3.53%	3.89%	3.89%	3.89%	3.90%	3.92%	4.28%	4.31%	4.31%	4.31%	4.55%
	0.50%	0.50%	0.50%	0.37%	0.07%	0.06%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	26.84%	23.31%	22.95%	23.09%	23.38%	23.38%	23.42%	23.06%	22.67%	22.67%	22.67%	22.43%
No. of Shareholders	23,643	22,984	22,665	22,345	21,602	21,435	20,792	20,629	20,819	21,019	21,021	21,119

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	73.96%	74.97%	74.97%	72.66%	72.66%	72.66%	72.66%	73.02%	73.02%
	0.00%	0.00%	0.00%	0.00%	0.00%	3.53%	3.90%	4.31%	4.55%
	3.31%	3.30%	3.30%	2.22%	1.65%	0.50%	0.06%	0.01%	0.01%
	0.16%	0.16%	0.16%	0.12%	0.12%	0.00%	0.00%	0.00%	0.00%
	22.57%	21.56%	21.56%	25.00%	25.57%	23.31%	23.38%	22.67%	22.43%
No. of Shareholders	31,519	25,691	23,896	26,731	24,624	22,984	21,435	21,019	21,119

* 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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Bengal & Assam Company Ltd

Bengal & Assam Company Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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