Primo Chemicals Ltd

₹ 36.8 0.96%

24 Jul - close price

About

The Company was incorporated on 1st December 1975 and the name was changed to Punjab Alkalies & Chemicals Limited on 19th April 1983. The company’s main product is Caustic Soda Lye and it is the largest producer of Caustic Soda in the North India region. The by-products of the company are Hydrochloric Acid, Liquid Chlorine, Sodium Hypochlorite, and Hydrogen gas.^[1]

Key Points

Product Portfolio
Primo Chemicals Limited (formerly Punjab Alkalies & Chemicals Ltd.) has key products like Caustic Soda Lye, Hydrochloric Acid, Liquid Chlorine, Sodium Hypochlorite, Hydrogen Gas, Stable Bleaching Powder. Its new products include Caustic Soda Flakes and Aluminium Chloride. ^[1]

Website BSE

Market Cap ₹ 892 Cr.
Current Price ₹ 36.8
High / Low ₹ 66.3 / 33.0
Stock P/E
Book Value ₹ 15.7
Dividend Yield 0.00 %
ROCE -2.38 %
ROE -6.57 %
Face Value ₹ 2.00

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Pros

Cons

Company has low interest coverage ratio.
Promoter holding is low: 31.4%
Earnings include an other income of Rs.19.4 Cr.
Promoter holding has decreased over last 3 years: -3.21%

* 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: Chlor Alkali / Soda Ash

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Detailed Comparison with:

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
	75.56	75.28	87.02	130.70	161.07	186.26	185.67	187.64	147.80	109.88	93.20	91.43	102.48
	93.49	59.86	126.78	74.17	106.60	121.31	133.15	141.35	119.21	102.83	97.55	88.64	101.05
Operating Profit	-17.93	15.42	-39.76	56.53	54.47	64.95	52.52	46.29	28.59	7.05	-4.35	2.79	1.43
OPM %	-23.73%	20.48%	-45.69%	43.25%	33.82%	34.87%	28.29%	24.67%	19.34%	6.42%	-4.67%	3.05%	1.40%
	40.03	2.76	2.41	5.11	4.87	5.14	8.91	4.75	7.36	5.46	4.84	3.70	5.42
Interest	1.77	2.35	1.85	2.98	1.63	1.58	1.21	2.08	3.21	3.03	4.38	5.01	5.78
Depreciation	4.20	4.19	4.28	4.47	4.52	4.47	4.45	7.38	7.65	8.71	9.01	10.28	11.57
Profit before tax	16.13	11.64	-43.48	54.19	53.19	64.04	55.77	41.58	25.09	0.77	-12.90	-8.80	-10.50
Tax %	71.67%	23.54%	-14.26%	20.72%	20.76%	26.86%	27.36%	29.89%	30.37%	584.42%	5.19%	74.32%	-164.57%
	4.57	8.90	-37.28	42.95	42.15	46.85	40.52	29.15	17.47	-3.72	-13.57	-15.35	6.78
EPS in Rs	0.29	0.40	-1.54	1.77	1.74	1.93	1.67	1.20	0.72	-0.15	-0.56	-0.63	0.28
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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
	281	259	260	236	262	327	369	284	223	449	701	397
	260	260	267	243	277	298	290	268	235	362	508	390
Operating Profit	20	-1	-7	-8	-15	29	78	16	-12	87	192	7
OPM %	7%	-1%	-3%	-3%	-6%	9%	21%	6%	-6%	19%	27%	2%
	4	3	2	5	3	-4	5	20	55	15	26	19
Interest	8	1	1	5	4	20	8	5	5	9	8	18
Depreciation	13	10	8	7	8	9	16	13	17	17	24	40
Profit before tax	4	-10	-13	-14	-24	-5	59	18	20	76	186	-31
Tax %	31%	0%	0%	0%	0%	0%	5%	52%	59%	25%	28%	-18%
	3	-10	-13	-14	-24	-5	56	9	8	57	134	-26
EPS in Rs	0.27	-0.93	-1.26	-1.39	-1.79	-0.36	4.12	0.65	0.53	2.34	5.53	-1.07
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	4%
5 Years:	1%
3 Years:	21%
TTM:	-43%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-119%

Stock Price CAGR
10 Years:	24%
5 Years:	26%
3 Years:	18%
1 Year:	-43%

Return on Equity
10 Years:	14%
5 Years:	16%
3 Years:	18%
Last Year:	-7%

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	20	20	20	20	27	27	27	27	31	48	48	48
Reserves	83	67	51	33	12	9	38	43	66	225	358	332
	50	51	51	44	28	27	28	29	1	61	145	178
	56	57	58	95	123	147	133	129	148	141	174	149
Total Liabilities	209	196	180	193	190	211	226	228	246	476	726	708
	142	130	122	114	111	106	89	168	156	155	278	468
CWIP	2	1	1	2	5	5	16	15	35	177	213	49
Investments	0	0	0	0	0	0	0	0	0	30	53	53
	65	66	57	77	74	100	121	46	55	114	181	138
Total Assets	209	196	180	193	190	211	226	228	246	476	726	708

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
	46	8	2	23	9	43	54	27	53	70	150	14
	-7	-7	-1	-3	-11	-3	-36	-82	-24	-191	-233	-56
	-37	1	-2	-6	-0	-4	-3	-3	-34	137	81	21
Net Cash Flow	2	2	-1	13	-2	36	16	-58	-5	16	-3	-21

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	19	15	9	8	6	5	6	7	27	26	27	32
Inventory Days	93	84	62	92	69	68	51	59	52	84	47	30
Days Payable	147	177	200	246	220	160	186	233	231	216	179	41
Cash Conversion Cycle	-35	-78	-129	-146	-145	-86	-130	-167	-152	-106	-106	21
Working Capital Days	-7	-24	-88	-77	-112	-125	-91	-157	-160	-40	-20	-23
ROCE %	7%	-6%	-9%	-9%	-25%	40%	85%	14%	25%	39%	44%	-2%

Shareholding Pattern

Numbers in percentages

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	31.35%	31.35%	31.35%	31.35%	31.36%	31.36%	31.36%	31.36%	31.36%	31.36%	31.35%	31.35%
	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	2.11%	1.78%	0.73%	0.23%
	0.05%	0.05%	0.31%	0.05%	0.04%	1.92%	1.92%	1.92%	1.92%	1.92%	1.92%	1.92%
	68.60%	68.60%	68.34%	68.60%	68.60%	66.72%	66.73%	66.72%	64.62%	64.96%	65.99%	66.50%
No. of Shareholders	20,609	21,334	24,650	25,818	28,443	33,800	33,421	33,556	40,947	42,403	45,398	45,324

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	33.49%	33.49%	33.49%	33.49%	48.91%	31.35%	31.36%	31.35%	31.35%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.73%	0.23%
	24.43%	2.33%	0.09%	0.09%	0.08%	0.31%	1.92%	1.92%	1.92%
	42.08%	64.18%	66.42%	66.42%	51.01%	68.34%	66.73%	65.99%	66.50%
No. of Shareholders	23,361	22,461	21,028	20,552	20,448	24,650	33,421	45,398	45,324

* 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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