Past 10 year's financial track record analysis by Moneyworks4me indicates that India Gelatine & Chemicals Ltd is a average quality company.
The key valuation ratios of India Gelatine & Chemicals Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of India Gelatine & Chemicals Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 6.2% | 4% | 2.5% | 2.4% | 5.7% | 6.4% | 8.8% | 6.7% | 25.1% | 24.6% | - |
| Value Creation Index ⓘ | -0.6 | -0.7 | -0.8 | -0.8 | -0.6 | -0.6 | -0.4 | -0.5 | 0.8 | 0.8 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 115 | 94.3 | 74.4 | 97.8 | 112 | 132 | 144 | 160 | 205 | 206 | 192 |
| Sales YoY Gr. | - | -18.4% | -21.1% | 31.4% | 14.6% | 17.8% | 9.1% | 11.1% | 28.4% | 0.3% | - |
| Adj EPS ⓘ | 3.5 | 2.3 | 2.3 | 2.9 | 7.5 | 7.8 | 7.6 | 6.2 | 32.7 | 34.5 | 29.6 |
| YoY Gr. | - | -36% | -0.4% | 29.3% | 159.1% | 2.9% | -2.5% | -18.5% | 429.5% | 5.5% | - |
| BVPS (₹) ⓘ | 126.1 | 128.9 | 132 | 139.1 | 144.2 | 146.9 | 155.2 | 161.7 | 192.3 | 217.2 | 227.5 |
| Adj Net Profit ⓘ | 3.3 | 2.1 | 2.1 | 2.1 | 5.4 | 5.5 | 5.4 | 4.4 | 23.2 | 24.5 | 21 |
| Cash Flow from Ops. ⓘ | 17 | 3.8 | -4.3 | 14.7 | 4.9 | 7.5 | 6.1 | 8.9 | 17.9 | 18.4 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.6 | 0.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 6.6% | 13% | 12.7% | 0.3% | ||||
| Adj EPS ⓘ | 28.8% | 35.5% | 65.8% | 5.5% | ||||
| BVPSⓘ | 6.2% | 8.5% | 11.9% | 13% | ||||
| Share Price | 14.7% | 30.7% | 39.9% | 1.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 2.9 | 1.8 | 1.7 | 1.9 | 5.3 | 5.3 | 5 | 3.9 | 18.5 | 16.8 | 13.3 |
| Op. Profit Mgn % ⓘ | 4.9 | 4.7 | 0.8 | 2.5 | 5 | 6.2 | 6 | 4.8 | 16.3 | 17 | 12.8 |
| Net Profit Mgn % ⓘ | 2.9 | 2.3 | 2.8 | 2.1 | 4.8 | 4.2 | 3.7 | 2.7 | 11.3 | 11.9 | 10.9 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.1 | 0.1 | 0 |
| Working Cap Days ⓘ | 211 | 240 | 276 | 169 | 127 | 116 | 116 | 117 | 107 | 114 | 90 |
| Cash Conv. Cycle ⓘ | 94 | 107 | 140 | 102 | 81 | 73 | 73 | 73 | 62 | 74 | 75 |
Return on Equity has increased versus last 3 years average to 13.30%
Sales growth is growing at healthy rate in last 3 years 12.68%
Net Profit is growing at healthy rate in last 3 years 65.75%
Sales growth is not so good in last 4 quarters at -12.66%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 29.6 | - |
| TTM Sales (₹ Cr.) | 192 | - |
| BVPS (₹.) ⓘ | 227.5 | - |
| Reserves (₹ Cr.) ⓘ | 155 | - |
| P/BV ⓘ | 1.71 | - |
| PE ⓘ | 13.20 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 306.05 / 513.95 |
| All Time Low / High (₹) | 7.65 / 513.95 |
| Market Cap (₹ Cr.) | 277 |
| Equity (₹ Cr.) | 7.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 57.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 115 | 94 | 74 | 98 | 112 | 132 | 144 | 160 | 205 | 206 |
| Operating Expenses ⓘ | 110 | 90 | 74 | 96 | 107 | 125 | 135 | 153 | 172 | 171 |
| Manufacturing Costs | 38 | 26 | 28 | 33 | 37 | 44 | 37 | 48 | 56 | 55 |
| Material Costs | 53 | 47 | 31 | 46 | 50 | 59 | 78 | 82 | 85 | 87 |
| Employee Cost | 5 | 6 | 4 | 4 | 10 | 10 | 10 | 11 | 13 | 13 |
| Other Costs ⓘ | 13 | 11 | 12 | 13 | 10 | 12 | 9 | 12 | 17 | 16 |
| Operating Profit ⓘ | 6 | 4 | 1 | 2 | 5 | 7 | 8 | 7 | 33 | 35 |
| Operating Profit Margin (%) | 4.9% | 4.7% | 0.8% | 1.6% | 4.9% | 5.0% | 5.9% | 4.6% | 16.3% | 17.0% |
| Other Income ⓘ | 7 | 5 | 6 | 4 | 4 | 3 | 5 | 4 | 3 | 8 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Depreciation ⓘ | 5 | 5 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 7 | 5 | 3 | 3 | 6 | 6 | 9 | 7 | 32 | 37 |
| Tax ⓘ | 1 | 1 | 0 | 0 | 0 | 1 | 2 | 2 | 8 | 9 |
| Profit After Tax | 6 | 4 | 3 | 2 | 6 | 5 | 7 | 6 | 24 | 28 |
| PAT Margin (%) | 5.4% | 3.9% | 4.3% | 2.3% | 5.1% | 4.1% | 4.9% | 3.5% | 11.6% | 13.8% |
| Adjusted EPS (₹) | 6.6 | 3.9 | 3.4 | 3.2 | 8.1 | 7.6 | 10.0 | 7.9 | 33.7 | 40.0 |
| Dividend Payout Ratio (%) | 23% | 23% | 27% | 63% | 43% | 20% | 25% | 32% | 15% | 27% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 119 | 121 | 124 | 99 | 102 | 104 | 110 | 115 | 136 | 154 |
| Share Capital ⓘ | 9 | 9 | 9 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Reserves ⓘ | 109 | 112 | 115 | 92 | 95 | 97 | 103 | 108 | 129 | 147 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 6 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 6 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 3 | 3 | 5 | 6 | 3 | 8 | 5 | 8 | 14 | 8 |
| Others Liabilities ⓘ | 32 | 33 | 12 | 11 | 11 | 11 | 11 | 13 | 22 | 16 |
| Total Liabilities ⓘ | 154 | 157 | 141 | 115 | 116 | 124 | 127 | 136 | 180 | 184 |
Fixed Assets | ||||||||||
| Gross Block | 119 | 120 | 122 | 123 | 125 | 129 | 127 | 131 | 150 | 163 |
| Accumulated Depreciation | 71 | 75 | 78 | 81 | 83 | 86 | 86 | 90 | 90 | 95 |
| Net Fixed Assetsⓘ | 47 | 45 | 44 | 42 | 42 | 43 | 40 | 41 | 60 | 69 |
| CWIP ⓘ | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 4 | 2 |
| Investmentsⓘ | 13 | 7 | 36 | 30 | 30 | 28 | 34 | 33 | 43 | 44 |
| Inventories | 29 | 24 | 31 | 26 | 25 | 29 | 28 | 29 | 41 | 44 |
| Trade Receivables | 4 | 6 | 5 | 4 | 5 | 6 | 9 | 12 | 14 | 13 |
| Cash Equivalents | 31 | 41 | 9 | 3 | 6 | 7 | 6 | 6 | 9 | 6 |
| Others Assetsⓘ | 29 | 34 | 16 | 9 | 8 | 10 | 9 | 15 | 9 | 8 |
| Total Assets ⓘ | 154 | 157 | 141 | 115 | 116 | 124 | 127 | 136 | 180 | 184 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 17 | 4 | -4 | 15 | 5 | 7 | 6 | 9 | 18 | 18 |
| PBT ⓘ | 7 | 5 | 3 | 3 | 6 | 6 | 9 | 7 | 32 | 37 |
| Adjustment ⓘ | -1 | 0 | -2 | 1 | 1 | 3 | 0 | 2 | 2 | -3 |
| Changes in Working Capital ⓘ | 12 | 1 | -5 | 12 | -1 | 1 | -2 | 2 | -11 | -7 |
| Tax Paid ⓘ | -1 | -2 | 0 | -1 | -1 | -3 | -1 | -2 | -6 | -9 |
| Cash Flow From Investing Activity ⓘ | 3 | 8 | -27 | -19 | -1 | -3 | -6 | -8 | -21 | -8 |
| Capex | 0 | -3 | -3 | -1 | -3 | -5 | -2 | -5 | -24 | -13 |
| Net Investments | 1 | 8 | -28 | -21 | 0 | 1 | -6 | -4 | 1 | 3 |
| Others ⓘ | 2 | 3 | 4 | 3 | 2 | 2 | 1 | 1 | 1 | 3 |
| Cash Flow From Financing Activityⓘ | -2 | -2 | -1 | -1 | -2 | -3 | -1 | -2 | 7 | -13 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 |
| Dividend Paid ⓘ | -2 | -2 | -1 | -1 | -2 | -3 | -1 | -2 | -2 | -10 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | -2 |
| Net Cash Flow ⓘ | 18 | 10 | -32 | -5 | 2 | 1 | -1 | -1 | 3 | -3 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 5.34 | 3.06 | 2.58 | 2.03 | 5.73 | 5.19 | 6.64 | 4.99 | 19.04 | 19.55 |
| ROCE (%) | 6.2 | 3.95 | 2.46 | 2.42 | 5.67 | 6.36 | 8.82 | 6.7 | 25.05 | 24.64 |
| Asset Turnover Ratio | 0.77 | 0.62 | 0.51 | 0.77 | 0.97 | 1.1 | 1.15 | 1.22 | 1.3 | 1.13 |
| PAT to CFO Conversion(x) | 2.83 | 1 | -1.33 | 7.5 | 0.83 | 1.4 | 0.86 | 1.5 | 0.75 | 0.64 | Working Capital Days |
| Receivable Days | 16 | 19 | 26 | 17 | 16 | 16 | 20 | 24 | 23 | 23 |
| Inventory Days | 90 | 101 | 132 | 106 | 83 | 74 | 72 | 65 | 63 | 75 |
| Payable Days | 23 | 22 | 44 | 42 | 33 | 36 | 32 | 30 | 48 | 47 |
India Gelatine & Chemicals Ltd. (IGC) was incorporated in 1973 and started its production in 1975 with the technical collaboration & know-how from Konica Gelatine Corporation, Japan. The Financial collaboration came from Nichimen Corporation, Japan. The company is engaged in the manufacturing of chemical products.
In the year 1975, the company started its production of Ossein, the raw material for Gelatine, which was exported to Japan. Within two decades, the company expanded & installed modern equipment imported from countries like Japan, Holland, USA, UK & Germany. From the year 1997, the company commenced the manufacture of Gelatine with the continued support of M/s. Konica Gelatine Corporation, Japan. IGCL is listed on both the Bombay Stock Exchange & Ahmedabad Stock Exchange. Befitting true market leader, IGCL recognises the importance of research. The company's future plans are based on the findings of research & development activities.
The pilot plan setup to augment the research & development activities of IGCL continuously tests & develops its upgradation of processes & products. Gelatine, known for centuries for its high nutritional value is a highly versatile product. Compared to all the usual hydrocolloids, Gelatine offers a unique combination of neutral taste, easy digestibility, brilliant clarity & reversible setting capacity.
Gelatine is accepted as a foodstuff & not just as a food additive, this biological product consists almost all 18 amino acids essential for human nutrition.
Product range of the company includes:
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