NOCIL LTD - RESULTS FOR THE 4TH QUARTER ENDED 31.03.2018 - MARCH 2018

NOCIL LTD

RESULTS FOR THE 4TH QUARTER ENDED 31.03.2018

MARCH 2018

NOCIL LTD has declared good results for the 4th quarter ending March 2018. The results are tabulated below.

1. Net Sales has grown 45% YoY and 11% QoQ.
2. Net Profits has grown 100% YoY and 13% QoQ.
3. Equity remaining constant, EPS has grown at the same rate.
4. At the current Market price of rs.201, the Price Earning Ratio works out to      16.48
5. The volume of transactions on NSE is fairly decent at around 3,95,000 on NSE as of today.
6. The share price has grown about 89% over the last one year.
7. Recommended a Dividend of Rs.2.50 per share of FV Rs.10/-

NOCIL	Mar '18	Dec '17	Sep '17	Jun '17	Mar '17	YOY	QOQ
Net Sales	275.87	249.27	227.6	214.81	190.81	44.58	10.67
Consumption of Raw Materials	120.25	108.99	104.7	110.23	86.72	38.66	10.33
Purchase of Traded Goods	0.62	0.74	0.72	0.84	0.7	-11.43	-16.22
Increase in Stocks	1.14	5.09	2.86	-15.6	9.51	-88.01	-77.6
Employees Cost	16.96	15.56	15.96	18.91	12.82	32.29	9
Depreciation	11.16	4	4.16	3.59	3.59	210.86	179
Other Expenses	52.32	49.28	49.34	45.76	40.26	29.96	6.17
P/B Other Inc. , Int., Excpt. Items & Tax	73.42	65.61	49.86	51.08	37.21	97.31	11.9
Other Income	3.21	3.18	5.15	2.79	1.78	80.34	0.94
P/B Int., Excpt. Items & Tax	76.63	68.79	55.01	53.87	38.99	96.54	11.4
Interest	0.23	0.28	0.34	0.37	0.4	-42.5	-17.86
P B T	76.4	68.51	54.67	53.5	38.59	97.98	11.52
Tax	25.45	23.54	16.6	18.88	13.13	93.83	8.11
Net Profit	50.95	44.97	38.07	34.62	25.46	100.12	13.3
Equity	164.48	164.38	164.38	164.14	163.58	0.55	0.06
Basic EPS	3.1	2.74	2.32	2.11	1.55	100	13.14
Diluted EPS	3.05	2.7	2.31	2.09	1.5	103.33	12.96
MP	201
PE	16.48
VOLUME	3,95,000
PRICE TREND
17.05,2018	1 week	2 week	1 month	3 month	6 month	9 month	1 year
Price	214.2	219.25	223.6	186.7	178.5	132.7	105.8
Gain / Loss	-6.51%	-8.67%	-10.44%	7.26%	12.18%	50.90%	89.27%

EXCERPTS FROM NOCIL

INVESTOR PRESENTATION

NOCIL IN A SNAPSHOT

1.  PART OF ARVIND MAFATLAL GROUP

2.  Largest Rubber Chemicals Manufacturer in India

3.  Expertise of over 4 Decades

4.  State of Art Technologies

5.  Long term Business relationships with Tyre Majors

6.  Strong Marketing Network

PRODUCTS

1.  Accelerators

2.  Anti Degradants Anti Oxidants

3.  Prevulcanization Inhibitor

4.  Post Vulcanization Stabilizer

5.  Likely to Grow around 5% every year for next 10 years

6.  Further scope of multiple expansion possible at Dahej

FY 18 VS FY 17

1.  REVENUE has grown over 30%

2.  Operating EBITDA has grown over 66%

3.  PBT has grown over 75%

4.  PAT has grown over 74%

5.  Operating EBITDA margins have grown over 588 bps

6.  PAT Margins have grown over 438 bps

7.  Net cash surplus has grown to Rs.245 crs

8.  Revenue, Operating EBITDA, PBT and PAT have been growing consistently over the last 4 years.

9.  Likewise, operating EBITDA margin, PBT Margin and PAT margin have also been improving during last 4 years

10.              ROE has risen to over 16%; ROCE to 24.5%;total Debt has come down drastically to Rs.5Cr (from 147 cr in FY 15) and D;E ratio is very negligible now.

11.              Similar improvements can be seen in quarterly performance as well over last 4 quarters.

12.              The company has a phased CAPEX PROGRAM of Rs.425 cr, for expansion of Navi Mumbai Plant, Dahej Plant, which will run upto FY 2019-20. So, the expansion will take the operations to a much higher level in due course.

Note : This analysis does not constitute a recommendation /advice for BUY/SELL/HOLD for individual Investors who will need to make detailed analysis further, on their own before coming to their own decisions.