Asahi Songwon Colors Ltd.
Q4 FY 20 RESULTS REVIEW
Asahi Songwon Colors Ltd.is engaged in the manufacture
of Pigment Green 7,CPC Blue
Crude,Pigment Alfa Blue 15:0,Pigment Alfa Blue 15:1, & Pigment Beta Blue
15:3.
MANAGEMENT :
Paru M Jaykrishna Chairperson & Managing Director
Gokul M Jaykrishna Joint Managing Director
& CEO
Let us take a look at the Q4 FY 20 Results now :
Net sales has increased 6.61% YoY and 22.71% QoQ. PBT
has increased by52.41% YoY and 79.67% QoQ.
NPT has increased by 204% YoY and 73.22% QoQ.
Equity stands at 12.27 Cr.
QUARTERLY
RESULTS :
|
Asahi Songwon Colors (in Rs. Cr.)
|
Mar.20
|
Dec
'19
|
Sep '19
|
Jun '19
|
Mar
'19
|
YOY
|
QOQ
|
|
Net Sales
|
71.76
|
58.48
|
71.61
|
81.79
|
67.31
|
6.61
|
22.71
|
|
P/L Before Tax
|
8.3
|
4.74
|
6.28
|
3.97
|
3.45
|
140.58
|
75.11
|
|
Tax
|
2.21
|
1.23
|
-1.58
|
-1.4
|
1.45
|
52.41
|
79.67
|
|
Net Profit
|
6.08
|
3.51
|
7.86
|
5.38
|
2
|
204
|
73.22
|
|
Equity Share Capital
|
12.27
|
12.27
|
12.27
|
12.27
|
12.27
|
0
|
0
|
|
Basic EPS
|
4.95
|
2.86
|
6.4
|
4.38
|
1.63
|
203.68
|
73.08
|
|
Diluted EPS
|
4.95
|
2.86
|
6.4
|
4.38
|
1.63
|
203.68
|
73.08
|
|
MP
|
162
|
||||||
|
PE
|
8
|
Current Market price is around 156 and based on it, PE
ratio works out to around 8+. The price is inching towards the 52 week high of
180.30.
Volume
: 96,760
52
Wk L/H :
63.05 : 180.30
TECHNICAL
RATING : very bullish
Valuation
- Market Cap (Rs Cr.) 170.09
- P/E 9.03
- Book Value (Rs) 157.75
- Dividend (%) 30.00·
- Market Lot 1
- Industry P/E 15.12
- EPS (TTM) 15.28
- P/C 6.3·
- Price/Book 0.88
- Dividend Yield.(%) 2.16
- Face Value (RS) 10.00
Share Holding Pattern in (%)
|
Standalone
|
March
2019
|
December
2018
|
June
2018
|
September
2017
|
|
|
Promoters
|
65.81
|
65.81
|
65.72
|
65.28
|
|
|
Pledged
|
0
|
0
|
0
|
0
|
|
|
FII/FPI
|
0.39
|
0.44
|
0.44
|
0.17
|
|
|
Total DII
|
12.46
|
12.5
|
12.63
|
13.93
|
|
|
Fin.Insts
|
0.04
|
0.04
|
0.02
|
0.04
|
|
|
Insurance Co
|
0
|
0
|
0
|
0
|
|
|
MF
|
0
|
0
|
0
|
0
|
|
|
Others DIIs
|
12.42
|
12.46
|
12.61
|
13.89
|
|
|
Others
|
21.35
|
21.26
|
21.2
|
20.63
|
|
|
Total
|
100.01
|
100.01
|
99.99
|
100.01
|
ABOUT
THE COMPANY :
Asahi Songwon Colors Ltd. is manufacturing
pigments which are basically colourants, adding colour to everything around us,
namely ink, paints, plastics, textiles, rubber etc.
Asahi Songwon Colors Ltd intends to become
a leading manufacturer of pigments around the world.
The company is manufacturing
CPC Beta Blue and Blue Crude, exporting substantial production to leading MNCs
around the world on account of quality of its products.
STRATEGY
& GOALS :
Better
productivity, capacity enhancement, overall cost control, customer
satisfaction, new product addition, environment and safety management and
better working capital management.
To
become a market leader in the pigment industry in the process of adding new
products in its basket in future.
ITS PRODUCTS
CPC Blue Crude
Pigment Alfa Blue 15:0
Pigment Alfa Blue 15:1
Pigment Beta Blue 15:3
Pigment Blue 15.4
Unwavering Focus on
:doings things extraordinarily
Asahi
has adopted this philosophy in its corporate strategy which is enabling it to
create differentiation in a competitive industry. It has positioned it
competitively in the industry and is ensuring long-term sustainability.
Focusing on
building lasting relationships with clients :
Adopting innovation
driven culture:
Even as its existing products were performing strongly, instead of remaining
stagnant, it focused on developing new products and strengthening its
competitive positioning in the industry.
During the last two years, it has
stepped up its innovation charter developing several new products for textile
and plastic applications like blue 15.0 for textiles, blue 15.1 plastic grade
and blue 15.4 for Publication Gravure Ink.
These products are having good reception
among domestic and global customers and provide good revenue visibility for the
future.
Setting new
standards of operational excellence :
Asahi
has undertaken a major overhaul at its plants by investing in equipment and
process upgradation.
These are enabling it to attain new levels of efficiency
and set new standards of quality.
As an ongoing process, it continues to
undertake operational excellence measures across the plants along with training
people which has resulted in streamlining of operations. It is also working
towards effective debottlenecking of existing assets to enhance production.
Attaining cost
leadership :
Its
multiple initiatives towards operational optimisation have resulted in
considerable cost reduction over the years.
It has modernised several plants
with automation and adopted better processes that have led to reduction in fuel
and power consumption.
Its investment in 128 kvA Solar Power Plant is enabling it
to reduce power costs. Employees have also been trained on minimising wastage.
It has one of the largest blue pigment
capacities in the world that are consumed by leading chemical companies
globally.
Its customers want reliable supply of cost-effective and quality
products for uninterrupted operations.
They want it to understand their latent
needs. Asahi is making this possible with its extraordinary focus on
operational excellence and customer engagements.
ITS business strategies
Build relationships
Deliver on client requirement
Enhance share in client’s overall requirement
Competitive pricing
Maximise shareholder value
Scale operations
Consistently add new products
Portfolio enhancement with value-added products
Optimise cost and operations
Unwavering focus on quality
Invest in equipment and processes
Train employees
best manufacturing practices
Become environmentally sustainable
Invest in technologies to ensure effective
treatment of discharged effluents
Reduce carbon footprint and water usage
Sensitise employees
Think long-term
Add more clients and geographies
Think future, act today
build strong intellectual capital
Leverage market opportunities
Leverage advantage of high-quality and competitive
pricing
Have geography specific strategies
144*Employee;
More than 9,433 tons* of chemical products were
sold to 39* customers
17*Countries of presence
66.07%*Proportion of export revenues
5.22%
Revenues CAGR FY15-19
1.80%
EBITDA CAGR FY15-19
0.82%
PAT CAGR FY15-19
7.22%
Sales volume CAGR FY15-19
13.19%
Net worth CAGR FY15-19
Annual results of
latest year :
Particulars Y/E
March 31, 19 Y/e March 31, 20
Net Sales/Revenue 29,362.04 28,363.98
Profit
before Exceptional items and tax expenses (iii - v) 2,624.30 3,196.56
Profit
before tax expenses (v - vi) 2,624.30 2326.84
Profit
for the year (vii - viii) 1,829.50 2,282.49
Earnings
per equity share: (face value of Rs.10/- each)39
Basic 14.91 18.60
Diluted 14.91 18.60
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