Kothari Sugars & Chemicals Ltd

₹ 47.0 -0.99%

21 Nov 3:57 p.m.

About

Incorporated in 1961,Kothari Sugars and Chemicals Limited (KSCL) are the Manufacturers of Sugar, Alcohol and Powerhaving units at Kattur and Sathamangalam, Tamilnadu. ^[1]

Key Points

Business Segments^[1]
Sugar: Company crushed ~10,87,693 tons of cane and produced 10,38,540 quintals of sugar in FY23(Recovery rate: 9.57%) as against crushing of 8,74,135 tons of cane and sugar production of 8,44,380 quintals in FY22(Recovery rate: 9.7%) .
Alcohol: Company produced 178.22 lakhs litres of alcohol during the FY23 against 171.96 lakhs litres in FY22.
Power: Company's power generation was 88.25 million units in FY23 against 71.66 million units in FY2

Revenue Split 9MFY24^[2]
Sugar: 62%
Distillery: 20%
Co-generation of Power: 18%

Website NSE

Market Cap ₹ 389 Cr.
Current Price ₹ 47.0
High / Low ₹ 71.7 / 46.2
Stock P/E 32.1
Book Value ₹ 34.3
Dividend Yield 1.06 %
ROCE 13.6 %
ROE 10.6 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Company has delivered good profit growth of 19.9% CAGR over last 5 years

Cons

The company has delivered a poor sales growth of 8.58% over past five years.
Company has a low return on equity of 13.6% over last 3 years.
Earnings include an other income of Rs.16.8 Cr.
Company's cost of borrowing seems high

* 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: Sugar Industry: Sugar

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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
	89.80	91.81	151.02	157.41	116.81	128.28	207.48	162.96	113.18	132.31	94.28	89.62	101.59
	84.68	85.36	124.93	119.78	114.49	136.43	178.65	133.19	101.47	132.58	91.17	88.54	90.95
Operating Profit	5.12	6.45	26.09	37.63	2.32	-8.15	28.83	29.77	11.71	-0.27	3.11	1.08	10.64
OPM %	5.70%	7.03%	17.28%	23.91%	1.99%	-6.35%	13.90%	18.27%	10.35%	-0.20%	3.30%	1.21%	10.47%
	6.68	0.68	-2.89	0.28	4.18	2.09	5.61	2.53	3.61	4.02	5.24	3.96	3.56
Interest	1.58	0.56	0.49	1.56	1.31	0.69	0.34	1.46	1.06	0.23	0.79	2.20	0.82
Depreciation	3.49	3.54	3.60	3.52	3.47	3.50	3.55	3.34	3.63	3.54	3.77	3.66	3.66
Profit before tax	6.73	3.03	19.11	32.83	1.72	-10.25	30.55	27.50	10.63	-0.02	3.79	-0.82	9.72
Tax %	5.65%	3.96%	13.97%	30.37%	-55.23%	-28.49%	22.39%	34.87%	51.27%	-3,850.00%	-48.81%	-35.37%	35.70%
	6.35	2.90	16.43	22.87	2.67	-7.33	23.71	17.90	5.18	0.76	5.65	-0.53	6.25
EPS in Rs	0.77	0.35	1.98	2.76	0.32	-0.88	2.86	2.16	0.62	0.09	0.68	-0.06	0.75
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	TTM
	433	323	340	247	317	287	332	352	419	422	609	501	418
	399	302	331	229	280	259	309	324	386	373	548	457	403
Operating Profit	34	21	9	18	36	28	23	28	33	50	61	44	15
OPM %	8%	7%	3%	7%	11%	10%	7%	8%	8%	12%	10%	9%	3%
	8	9	11	7	-1	-5	20	11	10	8	12	15	17
Interest	6	10	5	7	8	6	7	7	5	4	4	4	4
Depreciation	17	16	16	15	15	14	13	13	14	14	14	14	15
Profit before tax	19	5	-0	3	13	3	23	19	23	39	55	42	13
Tax %	55%	39%	1,200%	58%	17%	82%	44%	-2%	19%	14%	24%	30%
	9	3	-5	1	10	0	13	19	19	34	42	29	12
EPS in Rs	1.04	0.34	-0.55	0.14	1.26	0.06	1.53	2.34	2.29	4.11	5.06	3.56	1.46
Dividend Payout %	0%	149%	0%	0%	40%	0%	33%	0%	0%	0%	20%	14%

Compounded Sales Growth
10 Years:	4%
5 Years:	9%
3 Years:	6%
TTM:	-32%

Compounded Profit Growth
10 Years:	26%
5 Years:	20%
3 Years:	25%
TTM:	-68%

Stock Price CAGR
10 Years:	19%
5 Years:	36%
3 Years:	15%
1 Year:	-17%

Return on Equity
10 Years:	9%
5 Years:	12%
3 Years:	14%
Last Year:	11%

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	83	83	83	83	83	83	83	83	83	83	83	83	83
Reserves	40	38	34	35	49	56	69	84	103	137	175	196	202
	188	144	166	175	146	120	116	84	36	57	38	70	1
	72	110	75	76	103	110	123	124	119	118	137	135	100
Total Liabilities	384	375	358	368	380	370	391	375	341	395	433	483	385
	227	219	209	195	191	178	167	172	162	153	152	164	157
CWIP	1	6	0	0	0	0	1	0	0	1	9	0	0
Investments	8	16	18	18	20	33	48	30	58	71	72	100	107
	148	135	131	155	169	159	174	172	121	170	200	219	121
Total Assets	384	375	358	368	380	370	391	375	341	395	433	483	385

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
	-3	64	-13	25	25	37	26	27	82	-3	45	16
	-36	-18	1	4	-10	0	-11	3	-29	-13	-19	-36
	38	-57	18	-22	-28	-36	-10	-30	-1	-11	-15	-12
Net Cash Flow	-2	-10	6	8	-14	1	5	0	52	-27	11	-32

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	14	15	9	14	16	23	19	28	18	21	17	16
Inventory Days	111	152	139	236	235	224	216	181	101	165	117	180
Days Payable	24	72	45	60	88	133	127	111	95	99	73	93
Cash Conversion Cycle	102	95	103	189	162	114	108	99	24	88	61	103
Working Capital Days	64	34	65	75	68	68	77	74	26	64	47	81
ROCE %	8%	5%	1%	3%	9%	7%	10%	8%	10%	17%	18%	14%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	73.53%	73.53%	73.53%	73.53%	73.53%	73.53%	73.53%	73.53%	73.53%	73.53%	73.53%	73.53%
	0.00%	0.00%	0.00%	0.78%	0.74%	0.69%	0.67%	0.65%	0.66%	0.66%	0.65%	0.62%
	2.00%	2.15%	2.21%	0.83%	0.83%	0.83%	0.83%	0.83%	0.83%	0.67%	0.66%	0.66%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	24.46%	24.31%	24.24%	24.85%	24.89%	24.94%	24.96%	24.98%	24.97%	25.12%	25.14%	25.18%
No. of Shareholders	32,375	36,095	37,020	42,419	46,599	46,627	46,011	63,347	62,935	70,586	71,762	71,762

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	73.48%	73.48%	73.48%	73.48%	73.53%	73.53%	73.53%	73.53%	73.53%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.69%	0.66%	0.62%
	2.72%	2.72%	2.72%	2.72%	2.72%	2.15%	0.83%	0.67%	0.66%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	23.78%	23.79%	23.78%	23.78%	23.74%	24.31%	24.94%	25.12%	25.18%
No. of Shareholders	24,981	24,082	23,358	23,506	22,820	36,095	46,627	70,586	71,762

* 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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Kothari Sugars & Chemicals Ltd

Kothari Sugars & Chemicals Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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