Vikas Ecotech Ltd

₹ 3.36 1.20%

04 Dec 1:44 p.m.

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 ₹ 594 Cr.
Current Price ₹ 3.36
High / Low ₹ 5.65 / 3.00
Stock P/E 35.4
Book Value ₹ 3.11
Dividend Yield 0.00 %
ROCE 4.62 %
ROE 2.15 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 1.11 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding is low: 10.6%
Earnings include an other income of Rs.17.7 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

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2013	Mar 2014	Jun 2014	Sep 2014	Dec 2014	Mar 2015	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	55.12	61.07	63.72	48.00	50.56	66.55	68.33	57.70	60.74	68.46	71.73	101.06	89.23
	52.53	53.59	58.90	44.14	45.79	61.59	63.31	53.63	55.25	64.73	69.08	98.94	84.43
Operating Profit	2.59	7.48	4.82	3.86	4.77	4.96	5.02	4.07	5.49	3.73	2.65	2.12	4.80
OPM %	4.70%	12.25%	7.56%	8.04%	9.43%	7.45%	7.35%	7.05%	9.04%	5.45%	3.69%	2.10%	5.38%
	0.00	-0.79	0.00	1.88	0.00	0.00	1.31	1.20	-0.25	0.30	2.59	13.78	1.00
Interest	2.27	2.92	2.76	3.06	2.96	2.48	2.62	2.32	1.99	1.45	0.82	0.90	0.88
Depreciation	0.53	0.63	0.71	0.77	0.70	1.33	1.34	0.87	0.90	0.93	1.08	1.06	0.98
Profit before tax	-0.21	3.14	1.35	1.91	1.11	1.15	2.37	2.08	2.35	1.65	3.34	13.94	3.94
Tax %	0.00%	31.53%	30.37%	29.84%	29.73%	79.13%	24.47%	25.48%	25.11%	24.85%	31.44%	25.54%	27.66%
	-0.22	2.15	0.94	1.34	0.78	0.23	1.79	1.55	1.77	1.23	2.30	10.38	2.85
EPS in Rs	-0.00	0.03	0.01	0.02	0.01	0.00	0.02	0.01	0.01	0.01	0.02	0.06	0.02
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2023	Mar 2024	TTM
	62	115	165	252	250	397	259	330
	58	106	153	241	237	375	242	317
Operating Profit	4	9	12	11	13	22	16	13
OPM %	7%	8%	7%	4%	5%	6%	6%	4%
	1	2	6	2	3	3	4	18
Interest	2	4	5	6	9	11	7	4
Depreciation	0	1	2	2	2	4	4	4
Profit before tax	3	7	10	4	5	10	9	23
Tax %	10%	3%	1%	6%	22%	9%	27%
	3	6	10	4	4	10	7	17
EPS in Rs	0.05	0.07	0.10	0.04	0.04	0.10	0.05	0.11
Dividend Payout %	13%	16%	6%	14%	14%	0%	0%

Compounded Sales Growth
10 Years:	0%
5 Years:	%
3 Years:	%
TTM:	-35%

Compounded Profit Growth
10 Years:	6%
5 Years:	%
3 Years:	%
TTM:	-29%

Stock Price CAGR
10 Years:	-2%
5 Years:	14%
3 Years:	14%
1 Year:	-3%

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

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2023	Mar 2024	Sep 2024
Equity Capital	8	10	10	10	10	95	139	177
Reserves	6	16	24	28	32	143	238	372
	19	34	38	54	67	62	19	31
	11	25	26	43	45	43	48	78
Total Liabilities	44	85	98	135	154	343	444	658
	9	14	20	20	23	29	54	55
CWIP	0	0	0	0	0	0	0	1
Investments	0	0	0	0	0	55	228	368
	35	71	78	115	131	259	161	234
Total Assets	44	85	98	135	154	343	444	658

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2023	Mar 2024
	-5	-6	12	-8	92	120
	-5	-9	-9	-1	-58	-202
	10	15	-3	9	-41	83
Net Cash Flow	-0	-1	1	-0	-7	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2023	Mar 2024
Debtor Days	109	98	89	100	116	130	108
Inventory Days	71	79	58	48	44	35	71
Days Payable	57	80	42	54	58	27	59
Cash Conversion Cycle	123	97	105	94	102	138	121
Working Capital Days	139	142	108	101	121	168	120
ROCE %		22%	19%	13%	14%		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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