Atul Ltd

₹ 7,242 -0.58%

21 Nov - close price

About

Atul Ltd. is a diversified and integrated Indian chemical company (a part of Lalbhai Group, Gujarat). The products of the company are used in various Industries and come mainly under two segments, Life Science Chemicals and Performance and Other Chemicals under 9 Businesses. ^[1]

Since its incorporation, the company has manufactured many products for the first time in India Dyes including Vat Dyes, crop care chemicals, Phosgene, Carbamite, 2,4-D Acid, para Cresol, tissue culture raised date palms. ^[2]

Key Points

History
The company is a part of Lalbhai Group, one of the oldest business houses in India and the first company in India inaugurated by the first Prime Minister. It was originally promoted by Padma Bhushan late Kasturbhai Lalbhai in 1947 as Atul Products Ltd and was later renamed Atul Ltd in 1996. It has followed the B2B model since inception, it has now also ventured into B2C products. ^[1] ^[2]

Website BSE NSE

Market Cap ₹ 21,322 Cr.
Current Price ₹ 7,242
High / Low ₹ 8,180 / 5,175
Stock P/E 50.4
Book Value ₹ 1,889
Dividend Yield 0.28 %
ROCE 10.3 %
ROE 7.75 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.

Cons

The company has delivered a poor sales growth of 2.16% over past five years.
Company has a low return on equity of 11.5% over last 3 years.
Dividend payout has been low at 15.0% 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.

Peer comparison

Sector: Chemicals Industry: Chemicals

Part of BSE 250 SmallCap Index Nifty 500 Nifty Smallcap 250 Nifty Midcap150 Quality 50 Nifty Smallcap 50 Nifty 500 Multicap 50:25:25 Nifty Smallcap 100 BSE Allcap BSE Commodities BSE SmallCap Select Index BSE 400 MidSmallCap Index BSE SmallCap Nifty MidSmallcap 400 BSE 500 Nifty Total Market Nifty500 Multicap India Manufacturing 50:30:20

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,212	1,345	1,399	1,426	1,356	1,194	1,086	1,030	1,110	1,106	1,112	1,208	1,279
	1,007	1,111	1,190	1,219	1,167	1,015	965	883	970	957	985	1,022	1,085
Operating Profit	205	234	209	206	189	180	121	147	139	149	126	185	194
OPM %	17%	17%	15%	14%	14%	15%	11%	14%	13%	13%	11%	15%	15%
	30	7	23	47	72	45	36	27	42	44	21	14	39
Interest	0	1	2	1	0	0	1	1	1	0	1	1	4
Depreciation	37	38	37	40	40	41	42	43	44	47	50	51	52
Profit before tax	198	203	194	213	220	183	115	131	137	146	96	148	178
Tax %	25%	24%	23%	25%	23%	25%	23%	26%	25%	25%	22%	26%	28%
	149	154	149	159	168	137	88	97	103	110	75	109	129
EPS in Rs	50.30	52.09	50.19	53.72	57.02	46.37	29.97	32.72	35.01	37.19	25.44	37.08	43.73
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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	TTM
	1,983	2,343	2,535	2,454	2,695	3,107	3,916	3,906	3,512	4,993	5,062	4,358	4,704
	1,736	2,000	2,159	2,012	2,224	2,635	3,178	3,061	2,665	4,128	4,334	3,794	4,050
Operating Profit	247	343	376	443	470	473	738	845	847	865	728	564	654
OPM %	12%	15%	15%	18%	17%	15%	19%	22%	24%	17%	14%	13%	14%
	26	40	15	45	42	38	30	77	103	88	167	132	118
Interest	32	31	24	26	21	9	4	2	2	3	2	2	5
Depreciation	49	54	55	62	91	105	112	117	120	146	163	184	200
Profit before tax	192	297	312	400	401	397	652	803	828	804	730	510	567
Tax %	30%	28%	30%	31%	29%	32%	34%	20%	24%	24%	24%	25%
	136	213	217	274	285	270	429	640	631	608	552	385	423
EPS in Rs	45.69	71.74	73.30	92.53	96.18	91.16	144.51	215.82	213.23	205.34	187.08	130.62	143.44
Dividend Payout %	13%	10%	12%	11%	10%	13%	10%	13%	9%	12%	17%	15%

Compounded Sales Growth
10 Years:	6%
5 Years:	2%
3 Years:	7%
TTM:	6%

Compounded Profit Growth
10 Years:	6%
5 Years:	-3%
3 Years:	-15%
TTM:	-1%

Stock Price CAGR
10 Years:	19%
5 Years:	12%
3 Years:	-5%
1 Year:	11%

Return on Equity
10 Years:	15%
5 Years:	14%
3 Years:	12%
Last Year:	8%

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	Sep 2024
Equity Capital	30	30	30	30	30	30	30	30	30	30	30	29	29
Reserves	726	912	986	1,562	1,891	2,168	2,620	3,041	3,682	4,287	4,560	5,060	5,533
	355	351	281	302	155	0	0	0	0	73	5	11	12
	416	483	465	487	544	722	696	779	876	961	836	905	1,140
Total Liabilities	1,527	1,776	1,762	2,381	2,620	2,919	3,346	3,849	4,587	5,351	5,431	6,005	6,715
	480	520	474	713	931	922	921	907	1,059	1,276	1,349	1,657	1,674
CWIP	46	53	104	170	37	70	70	235	239	173	356	217	184
Investments	129	136	149	449	532	595	926	1,330	1,551	1,551	1,128	2,460	2,860
	873	1,067	1,035	1,050	1,120	1,333	1,428	1,377	1,739	2,350	2,598	1,671	1,997
Total Assets	1,527	1,776	1,762	2,381	2,620	2,919	3,346	3,849	4,587	5,351	5,431	6,005	6,715

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
	167	141	317	375	370	325	397	852	677	217	732	624
	-89	-80	-196	-342	-160	-87	-358	-709	-603	-225	-498	-483
	-81	-60	-123	-34	-208	-224	-44	-154	-64	11	-252	-133
Net Cash Flow	-3	1	-3	-1	2	15	-5	-10	10	3	-18	8

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	67	70	63	62	69	84	71	67	74	77	64	71
Inventory Days	102	111	98	111	99	82	76	83	116	98	88	87
Days Payable	91	94	74	88	88	101	74	93	128	86	72	86
Cash Conversion Cycle	77	86	88	86	79	65	73	57	62	89	80	71
Working Capital Days	67	77	69	79	82	82	77	58	61	80	82	71
ROCE %	20%	27%	26%	27%	21%	19%	27%	28%	24%	19%	17%	10%

Shareholding Pattern

Numbers in percentages

1 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
	44.94%	44.94%	45.05%	45.06%	45.06%	45.05%	45.05%	45.05%	45.06%	45.17%	45.17%	45.17%
	9.98%	9.22%	8.82%	9.20%	8.92%	8.15%	7.61%	7.71%	8.06%	8.47%	8.63%	9.66%
	22.20%	23.43%	23.37%	23.41%	24.21%	25.23%	26.16%	26.50%	26.08%	25.67%	25.81%	24.54%
	22.88%	22.41%	22.76%	22.32%	21.78%	21.56%	21.17%	20.73%	20.79%	20.69%	20.39%	20.63%
No. of Shareholders	67,025	64,429	69,679	70,248	66,455	67,542	68,751	66,776	65,757	66,589	67,753	60,354

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	44.47%	44.64%	44.70%	44.80%	44.93%	44.94%	45.05%	45.17%	45.17%
	6.12%	4.91%	6.61%	6.89%	9.48%	9.22%	8.15%	8.47%	9.66%
	20.52%	23.44%	22.72%	24.49%	23.11%	23.43%	25.23%	25.67%	24.54%
	0.00%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	28.89%	26.39%	25.97%	23.81%	22.48%	22.41%	21.56%	20.69%	20.63%
No. of Shareholders	30,021	24,738	27,117	35,827	50,197	64,429	67,542	66,589	60,354

* 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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