Vidhi Specialty Food Ingredients Ltd

₹ 475 -0.80%

25 Nov 1:29 p.m.

vidhifoodcolors.com BSE: 531717 NSE: VIDHIING

About

Vidhi Specialty Food Ingredients Limited, incorporated in 1994, is a leading manufacturer of Superior Synthetic and Natural Food Grade Colours. The company is Asia’s 2nd largest food colour manufacture. The company’s products have applications in industries of Food & Beverage, Confectionary, Pharmaceuticals, Pet Foods, Cosmetics, Inkjet Inks, Personal Care, and Home Care. ^[1]^[2]

Key Points

Market Position
The company is the 3rd largest manufacturer of synthetic food-grade dyes globally and the 2nd largest in Asia. ^[1]

Website BSE NSE

Market Cap ₹ 2,375 Cr.
Current Price ₹ 475
High / Low ₹ 530 / 382
Stock P/E 62.8
Book Value ₹ 57.9
Dividend Yield 0.42 %
ROCE 17.3 %
ROE 13.7 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.

Cons

Stock is trading at 8.26 times its book value

* 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: Dyes And Pigments

Part of BSE Commodities BSE SmallCap BSE Allcap

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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
	128	161	145	121	107	86	89	80	80	63	81	83	91
	106	136	126	105	93	74	77	67	66	49	65	69	76
Operating Profit	21	25	19	16	15	13	12	13	14	14	16	14	15
OPM %	17%	16%	13%	13%	14%	15%	14%	16%	17%	23%	20%	17%	17%
	0	0	1	0	0	0	1	1	0	0	0	0	1
Interest	1	2	1	1	1	1	1	1	1	1	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	2	2	2	2
Profit before tax	20	23	18	15	13	11	11	12	12	12	14	12	14
Tax %	28%	26%	24%	26%	21%	30%	20%	27%	22%	27%	25%	29%	24%
	14	17	14	11	10	8	9	8	9	9	10	8	10
EPS in Rs	2.89	3.40	2.76	2.20	2.05	1.54	1.76	1.68	1.80	1.72	2.10	1.69	2.07
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	225	266	537	404	303	318
	174	213	452	348	246	258
Operating Profit	51	53	85	56	57	60
OPM %	22%	20%	16%	14%	19%	19%
	1	2	1	1	1	1
Interest	3	2	4	4	3	2
Depreciation	3	3	3	4	6	8
Profit before tax	45	50	79	50	49	51
Tax %	25%	26%	26%	24%	25%
	34	37	59	38	36	38
EPS in Rs	6.79	7.32	11.73	7.55	7.30	7.58
Dividend Payout %	15%	11%	3%	11%	27%

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

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	0%
TTM:	12%

Stock Price CAGR
10 Years:	43%
5 Years:	51%
3 Years:	13%
1 Year:	8%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	19%
Last Year:	14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	5	5	5	5	5	5
Reserves	124	156	212	246	275	284
	34	31	90	52	20	30
	24	34	44	29	24	37
Total Liabilities	186	226	352	331	325	356
	40	38	47	55	133	133
CWIP	6	8	37	68	4	4
Investments	0	0	0	0	0	0
	141	179	268	207	187	219
Total Assets	186	226	352	331	325	356

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	28	11	-21	96	63
	-12	-3	-30	-41	-12
	-24	-8	53	-47	-40
Net Cash Flow	-8	0	1	7	12

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	124	130	102	91	106
Inventory Days	102	93	67	75	108
Days Payable	53	63	34	28	31
Cash Conversion Cycle	173	159	135	138	184
Working Capital Days	175	187	152	156	187
ROCE %		29%	33%	18%	17%

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
	64.27%	64.27%	64.27%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%	64.28%
	0.22%	0.37%	0.34%	0.20%	0.08%	0.09%	0.08%	0.07%	0.07%	0.08%	0.14%	0.11%
	0.00%	0.00%	0.11%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
	35.51%	35.36%	35.27%	35.51%	35.63%	35.63%	35.64%	35.66%	35.65%	35.64%	35.60%	35.62%
No. of Shareholders	21,652	20,626	21,128	21,972	21,341	20,508	19,929	18,432	17,814	18,808	17,114	16,894

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	64.27%	64.27%	64.27%	64.27%	64.27%	64.27%	64.28%	64.28%	64.28%
	0.10%	0.55%	0.10%	0.15%	0.26%	0.37%	0.09%	0.08%	0.11%
	0.06%	0.30%	0.07%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%
	35.57%	34.88%	35.55%	35.39%	35.47%	35.36%	35.63%	35.64%	35.62%
No. of Shareholders	10,289	12,561	11,412	10,974	14,169	20,626	20,508	18,808	16,894

* 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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