BSE: 590031 | NSE: DENORA | Electrodes & Welding Equipment | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that De Nora India Ltd is a average quality company.
The key valuation ratios of De Nora India 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 Semi Strong which suggest that the price of De Nora India Ltd is likely to Rise-somewhat 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.
| Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 16.5% | 41.2% | 9% | 5.9% | 3.7% | 18.1% | 11.8% | 28.5% | 29.7% | 23% | - |
| Value Creation Index ⓘ | 0.2 | 1.9 | -0.4 | -0.6 | -0.7 | 0.3 | -0.2 | 1.0 | 1.1 | 0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 30.5 | 40.7 | 26.7 | 27 | 32.8 | 48.2 | 50.5 | 74.2 | 73.6 | 73.8 | 76 |
| Sales YoY Gr. | - | 33.3% | -34.4% | 1.4% | 21.3% | 47.1% | 4.8% | 46.8% | -0.8% | 0.3% | - |
| Adj EPS ⓘ | 8.1 | 18 | 5.6 | 3.6 | 3 | 15.2 | 10.6 | 29 | 38.4 | 34.5 | 34.5 |
| YoY Gr. | - | 122.4% | -68.7% | -35.7% | -16.9% | 406% | -30.3% | 173.6% | 32.1% | -10.2% | - |
| BVPS (₹) ⓘ | 74 | 73.3 | 97.8 | 98.7 | 100.3 | 115.5 | 126.2 | 154.2 | 191.5 | 225.5 | 235 |
| Adj Net Profit ⓘ | 4.3 | 9.6 | 3 | 1.9 | 1.6 | 8.1 | 5.6 | 15.4 | 20.4 | 18.3 | 18 |
| Cash Flow from Ops. ⓘ | 9.7 | 11 | 7.2 | 1.9 | -6.1 | -7.2 | 16.2 | 11.7 | 14.3 | 16.1 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | -0.1 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 10.3% | 17.6% | 13.5% | 0.3% | ||||
| Adj EPS ⓘ | 17.5% | 62.8% | 48.1% | -10.2% | ||||
| BVPSⓘ | 13.2% | 17.6% | 21.4% | 17.7% | ||||
| Share Price | 23.8% | 44.4% | 39.3% | -21.3% | ||||
Performance Ratio Colour Code Guide ⓘ
| Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 11.4 | 27.2 | 5.9 | 3.7 | 3 | 14.1 | 8.8 | 20.7 | 22.2 | 16.5 | 15 |
| Op. Profit Mgn % ⓘ | 17.1 | 30.5 | 7.7 | 8.5 | 1.6 | 21.9 | 16.8 | 30.9 | 33.9 | 29.1 | 26 |
| Net Profit Mgn % ⓘ | 14.1 | 23.5 | 11.2 | 7.1 | 4.9 | 16.8 | 11.1 | 20.8 | 27.7 | 24.8 | 23.9 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 305 | 182 | 289 | 214 | 284 | 295 | 288 | 208 | 267 | 263 | 278 |
| Cash Conv. Cycle ⓘ | 207 | 89 | 124 | 87 | 121 | 176 | 214 | 137 | 162 | 165 | 245 |
Sales growth is growing at healthy rate in last 3 years 13.45%
Net Profit is growing at healthy rate in last 3 years 48.08%
Sales growth is good in last 4 quarters at 11.61%
Return on Equity has declined versus last 3 years average to 15.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 34.5 | - |
| TTM Sales (₹ Cr.) | 76.5 | - |
| BVPS (₹.) ⓘ | 235 | - |
| Reserves (₹ Cr.) ⓘ | 119 | - |
| P/BV ⓘ | 5.31 | - |
| PE ⓘ | 36.21 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 1140.00 / 2022.25 |
| All Time Low / High (₹) | 33.00 / 2334.00 |
| Market Cap (₹ Cr.) | 663 |
| Equity (₹ Cr.) | 5.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 39.7 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 31 | 51 | 27 | 27 | 33 | 48 | 51 | 74 | 74 | 74 |
| Operating Expenses ⓘ | 25 | 35 | 25 | 25 | 32 | 38 | 42 | 51 | 49 | 52 |
| Manufacturing Costs | 4 | 6 | 4 | 6 | 6 | 6 | 5 | 7 | 10 | 12 |
| Material Costs | 11 | 17 | 9 | 6 | 12 | 20 | 26 | 30 | 26 | 25 |
| Employee Cost | 5 | 7 | 6 | 6 | 6 | 5 | 5 | 6 | 6 | 6 |
| Other Costs ⓘ | 6 | 6 | 6 | 7 | 8 | 6 | 5 | 8 | 7 | 10 |
| Operating Profit ⓘ | 5 | 16 | 2 | 2 | 0 | 11 | 8 | 23 | 25 | 21 |
| Operating Profit Margin (%) | 16.8% | 30.5% | 7.6% | 7.2% | 1.5% | 21.9% | 16.6% | 30.9% | 33.6% | 28.9% |
| Other Income ⓘ | 2 | 4 | 3 | 3 | 4 | 2 | 2 | 1 | 4 | 5 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 6 | 18 | 4 | 3 | 2 | 10 | 8 | 21 | 27 | 25 |
| Tax ⓘ | 2 | 6 | 1 | 1 | 0 | 2 | 2 | 6 | 7 | 6 |
| Profit After Tax | 4 | 12 | 3 | 2 | 2 | 8 | 6 | 15 | 20 | 19 |
| PAT Margin (%) | 13.9% | 23.6% | 11.2% | 6.3% | 4.8% | 16.9% | 11.2% | 20.8% | 27.6% | 25.8% |
| Adjusted EPS (₹) | 8.0 | 22.6 | 5.6 | 3.2 | 3.0 | 15.3 | 10.6 | 29.1 | 38.2 | 35.8 |
| Dividend Payout Ratio (%) | 19% | 18% | 36% | 31% | 0% | 0% | 9% | 3% | 5% | 6% |
| PARTICULARS | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 39 | 49 | 52 | 52 | 53 | 61 | 67 | 82 | 102 | 120 |
| Share Capital ⓘ | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves ⓘ | 34 | 43 | 47 | 47 | 48 | 56 | 62 | 77 | 96 | 114 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Trade Payables | 2 | 4 | 3 | 5 | 6 | 5 | 3 | 3 | 7 | 4 |
| Others Liabilities ⓘ | 6 | 7 | 8 | 6 | 12 | 8 | 8 | 17 | 17 | 3 |
| Total Liabilities ⓘ | 47 | 59 | 62 | 62 | 71 | 74 | 79 | 102 | 125 | 126 |
Fixed Assets | ||||||||||
| Gross Block | 18 | 20 | 8 | 17 | 17 | 17 | 18 | 19 | 20 | 27 |
| Accumulated Depreciation | 12 | 13 | 1 | 3 | 5 | 7 | 9 | 11 | 13 | 13 |
| Net Fixed Assetsⓘ | 7 | 7 | 7 | 14 | 12 | 10 | 10 | 7 | 8 | 13 |
| CWIP ⓘ | 1 | 2 | 7 | 0 | 0 | 1 | 0 | 1 | 2 | 2 |
| Investmentsⓘ | 14 | 19 | 20 | 20 | 14 | 5 | 4 | 23 | 42 | 55 |
| Inventories | 7 | 6 | 5 | 7 | 17 | 26 | 19 | 24 | 29 | 28 |
| Trade Receivables | 12 | 10 | 6 | 5 | 6 | 13 | 11 | 12 | 17 | 10 |
| Cash Equivalents | 2 | 1 | 13 | 11 | 12 | 14 | 30 | 21 | 15 | 8 |
| Others Assetsⓘ | 4 | 13 | 3 | 6 | 11 | 6 | 5 | 14 | 13 | 10 |
| Total Assets ⓘ | 47 | 59 | 62 | 62 | 71 | 74 | 79 | 102 | 125 | 126 |
| PARTICULARS | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 10 | 14 | 7 | 2 | -6 | -7 | 16 | 12 | 14 | 16 |
| PBT ⓘ | 6 | 18 | 4 | 3 | 2 | 10 | 8 | 21 | 27 | 25 |
| Adjustment ⓘ | 0 | -1 | -1 | 0 | 2 | 2 | 1 | 3 | -1 | -2 |
| Changes in Working Capital ⓘ | 5 | 3 | 6 | 0 | -10 | -18 | 8 | -7 | -4 | -1 |
| Tax Paid ⓘ | -1 | -7 | -2 | -1 | 0 | -1 | -1 | -5 | -7 | -7 |
| Cash Flow From Investing Activity ⓘ | -8 | -12 | -3 | -2 | 7 | 7 | 1 | -16 | -24 | -14 |
| Capex | -1 | -2 | -4 | -4 | -1 | -1 | -2 | -1 | -4 | -7 |
| Net Investments | -7 | -12 | -1 | 0 | 7 | 7 | 2 | -15 | -21 | -7 |
| Others ⓘ | 0 | 2 | 2 | 2 | 2 | 2 | 1 | 0 | 0 | 1 |
| Cash Flow From Financing Activityⓘ | -3 | -1 | -3 | -1 | -1 | 1 | -1 | -1 | -1 | -1 |
| 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 | 0 | 0 |
| Dividend Paid ⓘ | -2 | -1 | -3 | -1 | -1 | 0 | 0 | -1 | -1 | -1 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | -1 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | -1 | 1 | 1 | -2 | 1 | 1 | 16 | -5 | -10 | 1 |
| PARTICULARS | Dec'14 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 11.31 | 27.24 | 5.93 | 3.24 | 3.01 | 14.19 | 8.8 | 20.76 | 22.09 | 17.17 |
| ROCE (%) | 16.45 | 41.19 | 8.96 | 5.91 | 3.67 | 18.07 | 11.84 | 28.46 | 29.68 | 22.95 |
| Asset Turnover Ratio | 0.67 | 0.98 | 0.45 | 0.44 | 0.49 | 0.66 | 0.66 | 0.82 | 0.65 | 0.59 |
| PAT to CFO Conversion(x) | 2.5 | 1.17 | 2.33 | 1 | -3 | -0.88 | 2.67 | 0.8 | 0.7 | 0.84 | Working Capital Days |
| Receivable Days | 143 | 78 | 109 | 72 | 57 | 69 | 86 | 56 | 71 | 67 |
| Inventory Days | 105 | 44 | 73 | 80 | 132 | 162 | 164 | 106 | 130 | 139 |
| Payable Days | 79 | 61 | 127 | 217 | 160 | 96 | 56 | 39 | 67 | 73 |
De Nora India Limited is a Public Limited Company with 51% equity held by De Nora. The Company is a subsidiary of the De Nora and has brought to India the latest technologies with the complete support of De Nora's technical expertise and management. The company is headed by S. C. Jain, Managing Director, who leads a team of professionals with vast experience.
In keeping with the philosophy of the De Nora, De Nora India Limited provides its valuable customers, not only a superior product, but also technical assistance, in installation and operation of their electrodes, for both, new and retrofitted cells of different technologies, through out their operating life.
With his factory in Goa with state-of-the-art facilities, De Nora India meet the demands of the rapidly developing Chlor-alkali industry. This factory also provides us access to the Goa port facilities for our future export commitments.
This service is provided through a team of specialists, a centralized data bank and access to the vast technology resources of De Nora. It is our firm opinion, that De Nora India's strength lies in Its technical expertise backed by its well trained team of specialists. Of course, there is the additional benefit of the direct technical support of De Nora’s highly trained engineering staff, ready to discuss the needs of any prospective client, to define the best optimized solution.
Product range of the company includes:
Chlor-Alkali which makes a full range of products and systems for chlorine and alkali, and sodium and potassium chlorate commodity chemical producers.
Oxygen & Specialties designs, develops and manufactures electrodes, anode coatings and systems for several electrochemical applications
DNI Products - Electrochlorination Systems
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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