Vikas Ecotech Ltd

₹ 3.32 0.91%

14 Nov - close price

vikasecotech.com BSE: 530961 NSE: VIKASECO

About

Incorporated in 1984, Vikas Ecotech Ltd
is in the business of high-end specialty chemicals^[1]

Key Points

Business Overview:^[1]^[2]
VEL is an integrated, multi-specialty product solutions company that manufactures eco-friendly rubber-plastic compounds and additives. These are essential ingredients in producing a diverse range of environmentally neutral and safety-critical products. Additionally, VEL produces a variety of high-end specialty chemical products and trades in TMT bars, steel, HR coils, CR coils, ERW pipes, and coal.

Website BSE NSE

Market Cap ₹ 587 Cr.
Current Price ₹ 3.32
High / Low ₹ 5.65 / 3.00
Stock P/E 37.2
Book Value ₹ 3.10
Dividend Yield 0.00 %
ROCE 4.53 %
ROE 2.07 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 1.07 times its book value
Debtor days have improved from 141 to 102 days.
Company's working capital requirements have reduced from 211 days to 117 days

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding is low: 10.6%
Company has a low return on equity of 2.38% over last 3 years.
Earnings include an other income of Rs.16.6 Cr.
Promoter holding has decreased over last 3 years: -4.95%

* 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: Diversified Industry: Diversified - Medium / Small

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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
	73.97	75.26	83.09	88.69	134.33	111.32	68.33	57.70	60.74	68.46	59.70	79.97	67.34
	68.18	66.53	75.67	84.07	127.67	105.69	63.31	53.63	55.25	64.73	56.67	78.16	63.14
Operating Profit	5.79	8.73	7.42	4.62	6.66	5.63	5.02	4.07	5.49	3.73	3.03	1.81	4.20
OPM %	7.83%	11.60%	8.93%	5.21%	4.96%	5.06%	7.35%	7.05%	9.04%	5.45%	5.08%	2.26%	6.24%
	1.26	0.43	-0.31	0.44	0.60	0.82	1.31	1.20	-0.25	0.30	1.87	13.68	0.79
Interest	5.28	4.45	4.87	2.66	2.72	2.64	2.62	2.32	1.99	1.45	0.82	0.89	0.85
Depreciation	0.90	0.89	0.91	0.81	0.86	0.96	1.34	0.87	0.90	0.93	1.05	0.97	0.95
Profit before tax	0.87	3.82	1.33	1.59	3.68	2.85	2.37	2.08	2.35	1.65	3.03	13.63	3.19
Tax %	25.29%	10.21%	7.52%	8.18%	3.53%	3.86%	24.47%	25.48%	25.11%	24.85%	31.68%	26.12%	24.14%
	0.65	3.43	1.23	1.46	3.54	2.74	1.79	1.55	1.77	1.23	2.06	10.07	2.42
EPS in Rs	0.01	0.04	0.01	0.02	0.04	0.03	0.02	0.01	0.01	0.01	0.01	0.06	0.01
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
	157	170	211	307	371	233	245	192	116	250	397	247	275
	149	159	194	258	303	181	216	180	112	227	375	230	263
Operating Profit	8	10	17	49	68	52	30	12	4	23	22	17	13
OPM %	5%	6%	8%	16%	18%	22%	12%	6%	4%	9%	6%	7%	5%
	2	2	3	5	-14	4	14	15	5	2	3	3	17
Interest	5	6	11	11	13	11	14	19	18	19	11	7	4
Depreciation	2	2	3	3	4	4	5	5	4	4	4	4	4
Profit before tax	4	4	6	39	37	41	25	3	-13	2	10	9	22
Tax %	3%	18%	39%	35%	34%	35%	40%	65%	10%	34%	9%	27%
	3	3	4	26	24	27	15	1	-14	1	10	7	16
EPS in Rs	0.04	0.04	0.04	0.29	0.25	0.28	0.16	0.01	-0.15	0.01	0.10	0.05	0.09
Dividend Payout %	15%	15%	34%	5%	6%	5%	9%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	4%
5 Years:	0%
3 Years:	29%
TTM:	-8%

Compounded Profit Growth
10 Years:	7%
5 Years:	-16%
3 Years:	35%
TTM:	101%

Stock Price CAGR
10 Years:	-1%
5 Years:	9%
3 Years:	24%
1 Year:	-8%

Return on Equity
10 Years:	7%
5 Years:	0%
3 Years:	2%
Last Year:	2%

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	10	10	25	25	28	28	28	28	28	94	95	139	177
Reserves	27	31	18	41	105	100	114	115	101	134	143	237	372
	37	43	68	94	118	141	158	145	151	91	62	19	21
	28	39	36	68	59	48	92	57	46	26	43	35	65
Total Liabilities	102	123	147	228	310	318	391	346	326	344	343	430	635
	18	21	21	28	27	27	40	31	30	28	29	29	29
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	8	5	0	0	0	5	0	0	0	0	55	258	408
	77	96	126	200	283	286	352	314	295	316	259	143	197
Total Assets	102	123	147	228	310	318	391	346	326	344	343	430	635

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
	-5	3	-12	-4	-23	-7	9	26	12	-18	92	119
	-1	-2	4	-10	-9	-22	-12	6	-0	0	-58	-203
	6	-1	13	12	53	11	1	-32	-12	20	-41	82
Net Cash Flow	0	0	6	-2	21	-18	-3	-0	0	2	-7	-1

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	85	116	129	167	149	218	245	205	255	190	130	102
Inventory Days	73	60	58	58	72	173	195	246	353	138	35	62
Days Payable	60	60	65	69	54	65	110	57	128	26	27	45
Cash Conversion Cycle	97	116	122	156	167	327	330	394	480	302	138	119
Working Capital Days	108	119	141	148	186	331	334	432	627	350	168	117
ROCE %	11%	13%	16%	37%	32%	20%	14%	5%	2%	7%	7%	5%

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
	15.60%	9.47%	9.29%	9.29%	9.29%	9.32%	7.85%	6.87%	6.87%	13.57%	10.66%	10.66%
	0.08%	1.11%	1.08%	1.08%	1.08%	0.03%	15.18%	9.42%	0.01%	0.01%	0.00%	0.00%
	84.33%	89.42%	89.63%	89.64%	89.63%	90.64%	76.98%	83.70%	93.12%	86.42%	89.34%	89.33%
No. of Shareholders	1,31,396	2,44,876	2,68,399	2,57,576	2,66,538	2,65,412	2,75,769	3,44,479	3,83,102	5,01,025	5,35,602	5,54,511

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	39.52%	39.53%	32.96%	32.51%	9.42%	9.47%	9.32%	13.57%	10.66%
	0.01%	1.67%	8.10%	8.27%	8.68%	1.11%	0.03%	0.01%	0.00%
	0.32%	0.54%	0.47%	0.01%	2.30%	0.00%	0.00%	0.00%	0.00%
	60.14%	58.26%	58.47%	59.21%	79.60%	89.42%	90.64%	86.42%	89.33%
No. of Shareholders	24,007	50,593	49,003	45,334	58,497	2,44,876	2,65,412	5,01,025	5,54,511

* 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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