ALKYL AMINES LIMITED - Q1 FY 21 - RESULTS REVIEW

 

ALKYL AMINES LIMITED

Q1 FY 21 RESULTS REVIEW

DATED 28 09 20

 

COMPANY OVERVIEW

Alkyl Amines Chemicals Ltd is a global supplier of amines and amine-based chemicals to the pharmaceutical, agrochemical, rubber chemical and water treatment industries, among others.   Their product range includes Aliphatic Amines, Amine Derivatives and Fine Chemicals.

MANAGEMENT

 

Yogesh M Kothari        Chairman & Managing Director

Kirat Patel                   Executive Director

Suneet Y Kothari         Executive Director

 

Alkyl Amines Chemicals (in Rs. Cr.)	Jun '20	Mar '20	Jun '19	YOY	QOQ
Net Sales	245.15	234.77	266.23	-7.92	3.9
Raw Materials	107.93	110.5	136.5	-20.9	-1.91
Increase/Decrease in Stocks	0.2	-2.64	10.61	-98.11	26.77
Employees Cost	19.92	16.96	16.69	19.35	17.74
depreciation	7.02	7.2	6.4	9.69	-2.81
Other Expenses	39.72	42.32	43.28	-8.23	-6.01
P/L Before Other Inc. , Int., Excpt. Items & Tax	70.36	60.38	52.76	33.36	18.92
Other Income	1.18	2.62	1.33	-11.28	-108.27
P/L Before Int., Excpt. Items & Tax	71.54	63	54.09	32.26	15.79
Interest	1.92	1.89	3.63	-47.11	0.83
P/L Before Exceptional Items & Tax	69.62	61.11	50.45	38	16.87
Exceptional Items	--	--	--
P/L Before Tax	69.62	61.11	50.45	38	16.87
Tax	16.84	11.9	15.36	9.64	32.16
Net Profit	52.78	49.21	35.09	50.4	10.17
Equity	10.2	10.2	10.2	0	0
Basic EPS	25.88	24.13	17.21	50.4	10.17
MP	3269
PE	31.58
VOLUMES	40,266

 

 

Annual	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Sales	992	846	616	500	483
Other Income	6	2	2	1	1
Total Income	999	848	618	501	484
Total Expenditure	747	705	515	419	404
EBIT	251	143	103	81	80
Interest	10	14	8	8	8
Tax	44	46	31	23	22
Net Profit	196	82	63	50	49

 

Historical Prices
	3 YR BEF	Current Price	%Gain / Loss
Open Price	440	3211	629.77
	2YR BEF
Open Price	600	3211	435.17
	1 YR BEF
Open Price	822	3211	290.63
	3M BEF
Open Price	2011.3	3211	59.65

 

Dividend Summary

For the year ending March 2020 Alkyl Amines Chemicals has declared an equity dividend of 400.00% amounting to Rs 20 per share. At the current share price of Rs 3262.15 this results in a dividend yield of 0.61%.

The company has a good dividend track report and has consistently declared dividends for the last 5 years.

 

Per Share Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Basic EPS (Rs.)	98.71	42.22	32.36	25.41	24.53
Diluted Eps (Rs.)	98.44	42.1	32.36	25.41	24.53
Book Value [Excl. Reval Reserve]/Share (Rs.)	262.88	185.71	151.39	125.32	102.02
Dividend/Share (Rs.)	20	8	7	5	10
Face Value	5	5	5	5	5
Margin Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Gross Profit Margin (%)	26.54	19.69	19.52	19.23	19.34
Operating Margin (%)	23.83	16.93	16.79	16.37	16.67
Net Profit Margin (%)	19.83	9.7	10.36	10.05	10.33
Return Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Return on Networth / Equity (%)	37.51	22.71	21.35	20.25	24.02
ROCE (%)	37.58	27.83	14.06	14.31	17.55
Return On Assets (%)	25.69	11.29	10.17	9.91	12.03
Liquidity Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Current Ratio (X)	1.91	1.26	1.33	1.4	1.42
Quick Ratio (X)	1.37	0.83	0.85	0.71	0.94
Leverage Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Debt to Equity (x)	0.09	0.34	0.49	0.39	0.47
Interest Coverage Ratios (%)	23.08	9.71	12.7	10.18	10.04
Turnover Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Asset Turnover Ratio (%)	126.74	110.98	94.95	95.82	116.34
Inventory Turnover Ratio (X)	11.87	8.01	7.23	4.49	7.66
Valuation Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
P/E (x)	1.99	7.6	7.72	11.55	7.92
P/B (x)	4.58	4.52	4	3.6	3.08
EV/EBITDA (x)	9.39	10.93	11.5	10.56	7.84
P/S (x)	2.48	2.02	2.01	1.84	1.33
Growth Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
3 Yr CAGR Sales (%)	26.94	30.02	12.88	2.52	4.12
3 Yr CAGR Net Profit (%)	82.99	28.95	13.56	5.3	7.82

 

Share Holding Pattern in (%)
Standalone	Jun-20	Mar-20	Dec-19	Sep-19
Promoters	74.19	74.19	74.19	74.19
Pledged	0	0	0	0
FII/FPI	0.41	0.67	0.43	0.38
Total DII	7.01	6.29	6.52	6.33
Fin.Insts	0.04	0	0.01	0.02
Insurance Co	0	0	0	0
MF	2.16	1.72	1.09	0.68
Others DIIs	4.81	4.57	5.42	5.63
Others	18.39	18.84	18.86	19.09
Total	100	99.99	100	99.99

 

STRENGTHS

High Piotroski Score - Companies with strong financials

Company with high TTM EPS Growth

Strong Annual EPS Growth

Morning Star (Bullish Reversal)

Effectively using its capital to generate profit - RoCE improving in last 2 years

Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year

Efficient in managing Assets to generate Profits - ROA improving since last 2 year

Growth in Net Profit with increasing Profit Margin (QoQ)

Growth in Quarterly Net Profit with increasing Profit Margin (YoY)

Company with Low Debt

Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years

Annual Net Profits improving for last 2 years

Book Value per share Improving for last 2 years

Company with Zero Promoter Pledge

FII / FPI or Institutions increasing their shareholding

Recent Results : Growth in Operating Profit with increase in operating margins (YoY)

Strong Momentum: Price above short, medium and long term moving averages

WEAKNESSES

Declining Net Cash Flow : Companies not able to generate net cash

OPPORTUNITIES

Brokers upgraded recommendation or target price in the past three months

Positive Breakout First Resistance ( LTP > R1)

Street Favorite: High Analyst Rating with at least 20% upside

Negative to Positive growth in Sales and Profit with Strong Price momentum

Highest Recovery from 52 Week Low

THREATS

Red Flag: Resignation of Top Management

 

CHARTS
3 M CHART	UPWARD CURVE
6 M CHART	UPWARD CURVE
1 YR CHART	APRIL,2020 LOWEST POINT. THEN UPWARD CURVE
2 YR CHART	UPTO APRIL 20 DISMAL. THEN UPWARD
5YR CHART	UPTO SEP 19 DISMAL. THEREAFTER UPWARD

 

MONTHLY TECHNICAL RATING   

Bullish   

Valuation

Market Cap (Rs Cr.)           6,673.97

P/E         28.58

Book Value (Rs)          261.99

Dividend (%)       400

Industry P/E         33.12

EPS (TTM)            114.14

P/C        25.62

Price/Book  12.48

Dividend Yield.(%)            0.61

Face Value (RS)  5