Shivalik Rasayan Ltd

₹ 524 3.90%

14 Nov - close price

shivalikrasayan.com BSE: 539148 NSE: SHIVALIK

About

Incorporated in 1979, Shivalik Rasayan Ltd is a manufacturer of Agrochemicals & Active Pharma Ingredients^[1]

Key Points

Business Overview:^[1]
SRL is the largest Indian producer of Dimethoate Technical and second largest Indian producer of Malathion Technical. It also manufactures organophosphorus-based insecticides and chemicals. Apart from this, company does development of Oncology and Non-Oncology active pharmaceutical ingredients and their finished dosage forms

Website BSE NSE

Market Cap ₹ 815 Cr.
Current Price ₹ 524
High / Low ₹ 778 / 493
Stock P/E 71.5
Book Value ₹ 244
Dividend Yield 0.10 %
ROCE 3.55 %
ROE 2.60 %
Face Value ₹ 5.00

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Pros

Company is expected to give good quarter

Cons

Company has a low return on equity of 5.12% over last 3 years.
Dividend payout has been low at 5.85% of profits over last 3 years
Debtor days have increased from 74.6 to 123 days.
Promoter holding has decreased over last 3 years: -4.97%

* 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: Agro Chemicals Industry: Pesticides / Agrochemicals - Indian

Part of BSE Allcap BSE Commodities BSE SmallCap

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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
	24.17	26.89	25.39	24.74	22.80	21.78	24.26	22.52	23.51	23.73	23.92	31.58	37.70
	18.39	21.27	20.07	18.57	17.65	17.67	20.63	18.10	18.49	19.76	20.39	25.65	31.25
Operating Profit	5.78	5.62	5.32	6.17	5.15	4.11	3.63	4.42	5.02	3.97	3.53	5.93	6.45
OPM %	23.91%	20.90%	20.95%	24.94%	22.59%	18.87%	14.96%	19.63%	21.35%	16.73%	14.76%	18.78%	17.11%
	0.00	0.47	1.52	0.49	0.33	0.83	0.55	0.04	0.01	0.67	0.93	0.05	0.06
Interest	0.22	0.24	0.32	0.26	0.26	0.39	0.50	0.52	1.06	0.93	0.72	1.21	1.41
Depreciation	1.29	1.35	1.32	1.48	1.22	1.35	1.19	1.12	1.62	1.21	1.34	1.72	2.05
Profit before tax	4.27	4.50	5.20	4.92	4.00	3.20	2.49	2.82	2.35	2.50	2.40	3.05	3.05
Tax %	-2.81%	-2.00%	-4.04%	1.02%	-1.00%	9.69%	-32.53%	10.28%	50.21%	7.60%	-6.67%	-0.66%	-13.11%
	4.38	4.59	5.40	4.87	4.04	2.89	3.31	2.53	1.17	2.31	2.56	3.07	3.46
EPS in Rs	3.18	3.17	3.73	3.36	2.79	1.99	2.28	1.70	0.75	1.48	1.65	1.97	2.22
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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
	29	35	41	43	41	44	48	61	85	99	94	94	117
	27	33	38	38	34	36	42	51	66	76	74	77	97
Operating Profit	2	2	3	5	7	7	6	9	19	23	19	17	20
OPM %	5%	6%	7%	11%	17%	17%	13%	16%	22%	23%	20%	18%	17%
	0	0	0	1	1	1	4	1	0	2	2	2	2
Interest	0	0	0	1	2	1	1	1	1	1	1	3	4
Depreciation	0	0	0	0	0	0	1	1	6	5	5	5	6
Profit before tax	1	2	3	4	5	6	9	9	13	19	15	10	11
Tax %	32%	34%	33%	33%	33%	19%	-3%	-0%	-1%	-3%	-3%	15%
	1	1	2	3	3	5	9	9	13	19	15	9	11
EPS in Rs	1.08	1.37	2.10	3.10	3.84	4.84	6.47	6.35	9.20	13.36	10.42	5.55	7.32
Dividend Payout %	0%	0%	0%	0%	10%	8%	8%	4%	5%	4%	5%	9%

Compounded Sales Growth
10 Years:	10%
5 Years:	14%
3 Years:	3%
TTM:	27%

Compounded Profit Growth
10 Years:	22%
5 Years:	-1%
3 Years:	-12%
TTM:	15%

Stock Price CAGR
10 Years:	%
5 Years:	19%
3 Years:	-16%
1 Year:	-21%

Return on Equity
10 Years:	6%
5 Years:	5%
3 Years:	5%
Last Year:	3%

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	3	3	3	3	3	4	7	7	7	7	7	8	8
Reserves	5	6	8	10	14	42	153	161	173	266	284	366	372
	0	0	0	11	14	8	9	0	11	15	40	55	66
	8	9	11	12	7	7	10	18	31	29	34	42	48
Total Liabilities	16	18	23	37	38	61	178	186	223	318	365	471	494
	7	6	7	8	8	15	16	18	120	128	126	122	221
CWIP	0	0	0	0	0	0	11	61	0	3	57	117	0
Investments	0	0	0	16	18	27	27	39	53	55	65	73	73
	10	12	16	13	12	19	124	68	49	131	117	159	200
Total Assets	16	18	23	37	38	61	178	186	223	318	365	471	494

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	-1	4	6	4	-2	-12	-7	46	7	-13	-1
	0	0	-0	-17	-2	-16	-9	-65	-61	-16	-65	-69
	3	0	1	7	-2	19	104	-9	10	76	21	83
Net Cash Flow	-0	-0	4	-4	1	2	83	-81	-5	66	-57	13

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	76	93	80	61	47	64	66	49	70	25	76	123
Inventory Days	32	8	5	14	22	36	82	33	45	97	256	328
Days Payable	112	103	126	139	76	66	92	166	119	108	154	102
Cash Conversion Cycle	-4	-2	-41	-64	-8	34	56	-83	-4	14	178	348
Working Capital Days	4	17	-11	-40	-37	38	169	202	33	97	212	251
ROCE %	19%	23%	29%	28%	25%	18%	9%	6%	7%	8%	5%	4%

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
	50.32%	50.32%	50.32%	50.32%	50.32%	50.32%	50.05%	47.95%	47.95%	47.95%	47.95%	47.95%
	0.00%	0.06%	0.04%	0.01%	0.01%	0.01%	0.35%	0.66%	1.18%	2.99%	2.15%	3.28%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.24%	0.59%	0.88%	0.88%	0.88%
	49.68%	49.62%	49.64%	49.67%	49.67%	49.67%	49.60%	51.14%	50.28%	48.17%	49.00%	47.87%
No. of Shareholders	7,790	7,792	7,726	8,380	8,579	8,460	8,556	9,190	9,149	9,398	10,001	10,627

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	71.20%	62.62%	52.50%	52.92%	52.92%	50.32%	50.32%	47.95%	47.95%
	0.00%	0.00%	0.04%	0.00%	0.00%	0.06%	0.01%	2.99%	3.28%
	1.84%	0.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.88%	0.88%
	26.96%	36.97%	47.46%	47.08%	47.08%	49.62%	49.67%	48.17%	47.87%
No. of Shareholders	1,419	2,227	3,038	3,350	5,549	7,792	8,460	9,398	10,627

* 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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Nov 2024

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Dec 2021

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Sep 2021

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Aug 2020

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Dec 2019

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Dec 2019

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