Past 10 year's financial track record analysis by Moneyworks4me indicates that Akzo Nobel India Ltd is a good quality company.
The key valuation ratios of Akzo Nobel 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 Weak which suggest that the price of Akzo Nobel India 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'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 21% | 31.3% | 30.4% | 30.1% | 24.9% | 26.4% | 28% | 22.9% | 30% | 36.6% | - |
| Value Creation Index ⓘ | 0.5 | 1.3 | 1.3 | 1.2 | 0.9 | 1.0 | 1.1 | 0.7 | 1.2 | 1.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 2,418 | 2,527 | 2,640 | 2,573 | 2,719 | 2,918 | 2,662 | 2,421 | 3,149 | 3,802 | 4,025 |
| Sales YoY Gr. | - | 4.5% | 4.5% | -2.6% | 5.7% | 7.3% | -8.8% | -9% | 30% | 20.8% | - |
| Adj EPS ⓘ | 33.3 | 39.6 | 45.9 | 52.5 | 44.9 | 46.7 | 53.4 | 47 | 64.4 | 74 | 95.5 |
| YoY Gr. | - | 18.7% | 16.1% | 14.3% | -14.5% | 4.1% | 14.3% | -11.9% | 36.9% | 15% | - |
| BVPS (₹) ⓘ | 181.2 | 196.7 | 248.6 | 215.7 | 276 | 248.6 | 271.6 | 282.6 | 276.2 | 288.9 | 312.7 |
| Adj Net Profit ⓘ | 156 | 185 | 214 | 245 | 209 | 213 | 243 | 214 | 293 | 337 | 435 |
| Cash Flow from Ops. ⓘ | 171 | 155 | 263 | 143 | 181 | 141 | 375 | 283 | 121 | 486 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 5.2% | 6.9% | 12.6% | 20.8% | ||||
| Adj EPS ⓘ | 9.3% | 10.5% | 11.5% | 15% | ||||
| BVPSⓘ | 5.3% | 0.9% | 2.1% | 4.6% | ||||
| Share Price | 10.9% | 13.2% | 18% | 45% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 15.9 | 20.9 | 20.6 | 22.6 | 18.2 | 17.5 | 20.5 | 17 | 23 | 26.2 | 31.8 |
| Op. Profit Mgn % ⓘ | 8.3 | 10.3 | 11.5 | 12.8 | 11.1 | 11.8 | 14.2 | 14.4 | 13.8 | 13.9 | 16 |
| Net Profit Mgn % ⓘ | 6.4 | 7.3 | 8.1 | 9.5 | 7.7 | 7.3 | 9.1 | 8.8 | 9.3 | 8.9 | 10.8 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 110 | 106 | 104 | 116 | 210 | 291 | 337 | 392 | 337 | 306 | 95 |
| Cash Conv. Cycle ⓘ | -3 | 3 | 1 | -3 | 2 | 10 | 15 | 5 | 15 | 17 | 26 |
Return on Equity has increased versus last 3 years average to 31.80%
Sales growth is growing at healthy rate in last 3 years 12.62%
Net Profit is growing at healthy rate in last 3 years 11.52%
Sales growth is not so good in last 4 quarters at 3.35%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 95.5 | 95.5 |
| TTM Sales (₹ Cr.) | 4,025 | 4,025 |
| BVPS (₹.) ⓘ | 312.7 | 312.8 |
| Reserves (₹ Cr.) ⓘ | 1,378 | 1,379 |
| P/BV ⓘ | 11.66 | 11.65 |
| PE ⓘ | 38.16 | 38.17 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 2265.10 / 4649.00 |
| All Time Low / High (₹) | 25.00 / 4649.00 |
| Market Cap (₹ Cr.) | 16,602 |
| Equity (₹ Cr.) | 45.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 51 |
| 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 | 2,527 | 2,640 | 2,573 | 2,719 | 2,918 | 2,662 | 2,421 | 3,149 | 3,802 | 3,962 |
| Operating Expenses ⓘ | 2,267 | 2,337 | 2,260 | 2,423 | 2,576 | 2,283 | 2,081 | 2,718 | 3,277 | 3,330 |
| Manufacturing Costs | 353 | 277 | 280 | 298 | 313 | 336 | 305 | 369 | 415 | 464 |
| Material Costs | 1,272 | 1,486 | 1,389 | 1,526 | 1,691 | 1,443 | 1,323 | 1,878 | 2,290 | 2,223 |
| Employee Cost | 206 | 233 | 245 | 276 | 265 | 255 | 251 | 263 | 300 | 327 |
| Other Costs ⓘ | 437 | 341 | 347 | 323 | 307 | 249 | 202 | 208 | 272 | 315 |
| Operating Profit ⓘ | 260 | 304 | 312 | 296 | 342 | 379 | 340 | 430 | 525 | 632 |
| Operating Profit Margin (%) | 10.3% | 11.5% | 12.1% | 10.9% | 11.7% | 14.2% | 14.0% | 13.7% | 13.8% | 16.0% |
| Other Income ⓘ | 66 | 57 | 65 | 47 | 43 | 38 | 24 | 25 | 27 | 36 |
| Interest ⓘ | 2 | 2 | 3 | 4 | 5 | 9 | 10 | 15 | 14 | 13 |
| Depreciation ⓘ | 53 | 54 | 54 | 58 | 65 | 79 | 76 | 76 | 83 | 82 |
| Exceptional Items ⓘ | 3 | 10 | 4 | 2 | 1 | -5 | 0 | 2 | 0 | 0 |
| Profit Before Tax ⓘ | 275 | 314 | 324 | 283 | 316 | 323 | 278 | 367 | 456 | 573 |
| Tax ⓘ | 89 | 100 | 90 | 78 | 105 | 86 | 71 | 77 | 121 | 146 |
| Profit After Tax | 186 | 214 | 234 | 206 | 211 | 237 | 208 | 290 | 335 | 427 |
| PAT Margin (%) | 7.4% | 8.1% | 9.1% | 7.6% | 7.2% | 8.9% | 8.6% | 9.2% | 8.8% | 10.8% |
| Adjusted EPS (₹) | 39.9 | 45.9 | 50.1 | 44.1 | 46.3 | 52.2 | 45.6 | 63.7 | 73.7 | 93.8 |
| Dividend Payout Ratio (%) | 50% | 153% | 44% | 50% | 52% | 27% | 110% | 118% | 88% | 80% |
| 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 | 920 | 1,163 | 1,009 | 1,290 | 1,136 | 1,237 | 1,288 | 1,259 | 1,316 | 1,329 |
| Share Capital ⓘ | 47 | 47 | 47 | 47 | 46 | 46 | 46 | 46 | 46 | 46 |
| Reserves ⓘ | 873 | 1,116 | 962 | 1,244 | 1,090 | 1,192 | 1,242 | 1,213 | 1,270 | 1,284 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 3 | 3 | 3 | 3 | 0 | 0 | 0 | 0 | 0 |
| Long Term Debt | 0 | 3 | 3 | 3 | 3 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 459 | 589 | 623 | 664 | 606 | 677 | 799 | 845 | 863 | 998 |
| Others Liabilities ⓘ | 420 | 289 | 249 | 1,505 | 1,663 | 1,806 | 1,908 | 2,028 | 2,222 | 2,383 |
| Total Liabilities ⓘ | 1,799 | 2,043 | 1,884 | 3,462 | 3,407 | 3,720 | 3,994 | 4,132 | 4,401 | 4,710 |
Fixed Assets | ||||||||||
| Gross Block | 959 | 577 | 624 | 697 | 752 | 856 | 877 | 924 | 965 | 1,028 |
| Accumulated Depreciation | 443 | 54 | 105 | 158 | 222 | 282 | 334 | 404 | 454 | 502 |
| Net Fixed Assetsⓘ | 516 | 523 | 519 | 539 | 530 | 574 | 543 | 520 | 511 | 526 |
| CWIP ⓘ | 12 | 9 | 23 | 27 | 17 | 16 | 17 | 42 | 73 | 119 |
| Investmentsⓘ | 394 | 600 | 336 | 573 | 377 | 84 | 1 | 0 | 0 | 0 |
| Inventories | 365 | 361 | 405 | 351 | 392 | 424 | 488 | 664 | 598 | 612 |
| Trade Receivables | 278 | 352 | 412 | 395 | 444 | 396 | 413 | 496 | 552 | 575 |
| Cash Equivalents | 60 | 55 | 34 | 84 | 62 | 553 | 733 | 458 | 563 | 523 |
| Others Assetsⓘ | 173 | 143 | 154 | 1,493 | 1,586 | 1,674 | 1,800 | 1,953 | 2,104 | 2,355 |
| Total Assets ⓘ | 1,799 | 2,043 | 1,884 | 3,462 | 3,407 | 3,720 | 3,994 | 4,132 | 4,401 | 4,710 |
| 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 ⓘ | 155 | 263 | 143 | 181 | 141 | 375 | 283 | 121 | 486 | 486 |
| PBT ⓘ | 275 | 314 | 342 | 542 | 316 | 323 | 278 | 367 | 456 | 573 |
| Adjustment ⓘ | -12 | 9 | 9 | -225 | 55 | 71 | 66 | 36 | 73 | 63 |
| Changes in Working Capital ⓘ | -35 | 53 | -96 | 40 | -105 | 91 | 20 | -169 | 99 | 21 |
| Tax Paid ⓘ | -73 | -113 | -112 | -177 | -124 | -111 | -82 | -113 | -143 | -171 |
| Cash Flow From Investing Activity ⓘ | 239 | -156 | 225 | -6 | 185 | 4 | -225 | 230 | -15 | -86 |
| Capex | -49 | -29 | -75 | -103 | -42 | -48 | -28 | -63 | -104 | -119 |
| Net Investments | 287 | -129 | 296 | 93 | 221 | 45 | -219 | 275 | 64 | -1 |
| Others ⓘ | 0 | 2 | 4 | 4 | 6 | 8 | 22 | 19 | 25 | 34 |
| Cash Flow From Financing Activityⓘ | -410 | -113 | -392 | -126 | -360 | -157 | -174 | -346 | -302 | -439 |
| 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 ⓘ | -2 | -1 | -2 | -2 | -2 | -9 | -8 | -12 | -12 | -12 |
| Dividend Paid ⓘ | -350 | -93 | -324 | -103 | -100 | -110 | -155 | -319 | -273 | -410 |
| Others ⓘ | -58 | -19 | -67 | -21 | -258 | -39 | -11 | -15 | -17 | -18 |
| Net Cash Flow ⓘ | -16 | -6 | -24 | 50 | -34 | 222 | -116 | 6 | 169 | -40 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 21.12 | 20.6 | 21.59 | 17.92 | 17.42 | 20.04 | 16.47 | 22.81 | 26.07 | 32.3 |
| ROCE (%) | 31.34 | 30.39 | 30.07 | 24.91 | 26.36 | 28.03 | 22.88 | 29.99 | 36.56 | 44.32 |
| Asset Turnover Ratio | 1.46 | 1.53 | 1.46 | 1.04 | 0.85 | 0.75 | 0.63 | 0.77 | 0.89 | 0.87 |
| PAT to CFO Conversion(x) | 0.83 | 1.23 | 0.61 | 0.88 | 0.67 | 1.58 | 1.36 | 0.42 | 1.45 | 1.14 | Working Capital Days |
| Receivable Days | 38 | 39 | 49 | 53 | 52 | 58 | 61 | 53 | 50 | 52 |
| Inventory Days | 45 | 45 | 49 | 49 | 46 | 56 | 69 | 67 | 61 | 56 |
| Payable Days | 131 | 122 | 153 | 147 | 129 | 152 | 193 | 152 | 131 | 147 |
Akzo Nobel India Limited (‘the Company’) was incorporated in India on 12 March 1954 as Indian Explosives Limited. It is currently known as Akzo Nobel India Limited with effect from 15 February 2010 under Section 23(1) of the Companies Act, 1956.
Akzo Nobel is the world's largest coatings company, with leading market positions and brands in countries around the world. The company creates everyday essentials to make people’s lives more liveable and inspiring, present in India for over many decades. As a leading paints and coatings company, it supplies essential protection and essential colour to industries and consumers. Backed by a pioneering heritage, its innovative products and sustainable technologies are designed to meet the growing demands of its fast-changing planet, while making life easier. Ranked as a leader in sustainability, it is dedicated to energising cities and communities while creating a protected, colourful world where life is improved by what it does.
Company’s history
In the year 1911, the ICI Group commenced its operations in India. Brunner Mond & Co, one of the four companies that combined in 1926 to form ICI in the UK, opened a trading office in Calcutta (now Kolkata) to sell alkalis and dyes. In 1923, it became Brunner Mond & Co (India) and, in 1929, the name was changed to Imperial Chemical Industries (India) Ltd. This was followed by a period of sustained expansion, diversification and growth leading to 1954, with the formation of Indian Explosives Ltd, promoted jointly by ICI PLC and the Government of India. Its name was changed to IEL Limited in 1985 and to ICI India Limited in 1989. The Government of India’s holding became nil in 2003.
Along with the other group companies of ICI PLC in India, it sponsored the establishment of the ICI India Research and Technology Centre in Thane in 1976. Over the years, it saw more consolidation, restructuring and divestment. The highlights of this period include the merger of three other group companies of ICI plc in India - The Alkali and Chemical Corporation of India Ltd, Chemicals and Fibres India Limited and Crescent Dyes and Chemicals Limited - in 1984. Nalco Chemicals India Ltd was formed in 1987. A paints plant as well as a polyurethanes systems house were commissioned at Thane in 1997; another paints plant was commissioned at Mohali near Chandigarh; the Uniqema Innovation Centre opened at Thane in the following year.
Business area of the company
The Company is engaged in the business of manufacturing, trading and selling of paints and related products. The Company also provides research and development services to the holding company and its group companies.
Product and services
Awards and Recognitions
FY2016-17
FY2017-18
FY2018-19
FY2019-20
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
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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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