ORIENTAL AROMATICS LTD
Q4 FY 20 RESULTS REVIEW
• Oriental Aromatics Ltd is
One Of The Largest Indian manufacturers of a variety of Aroma Chemicals, Camphor,
Fragrances and Flavours.
Management
Dharmil A Bodani Chairman & Managing Director
Shyamal A Bodani Executive Director
Satish Kumar Ray Executive Director - Operations
Animesh Dhar Executive Director - Operations
(in
Rs. Cr.) Mar '20 Dec '19 Sep '19 Jun '19 YOY QOQ
Net
Sales 170 175 204 212 -20.02 -3.28
Raw
Materials 95 110 143 140 -32.09 -14.19
P
B T 31 23 21 28 8.31 33.39
N
P T 24
18 27 18 32.65 35.2
Equity
16.83
EPS(Rs.5FV) 7.09 5.24 7.94 5.34 32.77 35.31
EBITDA 356 283 25.8%
EBITDA
Margin (%) 20.98% 16.13% 485
Bps
PAT
Margin (%) 14.08% 10.03% 405 Bps
MP 252
PE 8.89
52
Wk L/H 117.05 252.9
Valuation
Market
Cap (Rs Cr.) 804.32
P/E 9.29
Book
Value (Rs) 137.82
Dividend
(%) 50
Market
Lot 1
Industry
P/E 14.75
EPS
(TTM) 25.78
P/C 7.62
Price/Book 1.73
Dividend
Yield.(%) 1.05
Face
Value (RS) 5
•Wants
to become a global player in the specialty aroma chemicals
Business Mix
•Aroma Chemicals and Camphor -
Pinene derivatives, petro chem derivatives,
and musk and sandalwood derivatives, - to clients across the world.
•Flavours and Fragrances – to marquee
FMCG companies
Manufacturing Plants & Capacities
Aroma
Chemicals and Camphor:
•Bareilly,U.P.-12,000MTPA
•Vadodara,Gujarat-6,700MTPA
Flavours
and Fragrances:
•Ambernath,Maharashtra-6,000MTPA
R&D Facilities
•Centre
for Innovation at Mumbai
•Process
re-engineering lab at Vadodara
Company Overview
•
Today, The Company is one of the largest manufacturers of variety of specialty based
aroma chemicals, and camphor, with a vast product range including Synthetic Camphor,
Terpineols, Pine Oils, Astromusk, several other specialty aroma chemicals finding
applications in Cosmetics, Soaps, Pharmaceuticals and many more.
•OAL’s
custom designed fragrances are found in fine fragrances, incense sticks, candles,
and various FMCG products like soaps, shampoos, hair oils, detergents,etc. and it
also provides flavours for ice-creams, bakeries, confectionaries, beverages, chewing
gums, chocolates etc.
•The
Company has evolved into a one stop solution provider for the flavor and fragrance
industry.
SALES :
INTERNATIONAL
: 30%
INDIAND
: 70%
APPLICATIONS :
Incense
Sticks
Air
Fresheners
Cosmetics
Detergents
Balms
Pooja
Hair
oils, shampoos, soaps etc
Q4-FY20
/ FY20 Operational Highlights
•
better demand for specialty aroma chemicals, which resulted in higher volume of
production and value of sales as compared to the previous financial year.
•Despite
reduction in Raw material prices the company was able to hold on to the selling
prices which improved the margins.
•Strong
cash flow generation: As on 31st March, 2020 cash from operations
stood at INR 1,809 Mn owing to improvement in the working capital cycle and
better sales realization, this enabled the company to reduce its net debt by
INR 1,345 Mn to INR 508 Mn.
•Debt
reduction was achieved after accomplishing the payment of dividend of INR 142
Mn and a capex of Rs. 99 Mn.
•The
company has drawn out a capex plan of Approximately INR 1,000 Mn for FY
2020-2021.
•Company’s
focus is to maintain the sustainable growth in the business and maintain the
margins.
•ROE
as on 31stMarch 2020 stood at 18.57% which higher by 3.91% against last
financial year.
•Debt
/ Equity ratio as on 31st March 2020 improved to 0.11 from 0.47 last
financial year.
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