BSE: 543266 | NSE: HERANBA | Pesticides & Agrochemicals | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Heranba Industries Ltd is a good quality company.
The key valuation ratios of Heranba Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Heranba Industries 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 % ⓘ | 28.5% | 23.9% | 23.4% | 40.6% | 51.9% | 42.9% | 45.4% | 37.5% | 17.8% | 10.6% | - |
| Value Creation Index ⓘ | 1.0 | 0.7 | 0.7 | 1.9 | 2.7 | 2.1 | 2.2 | 1.7 | 0.3 | -0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 520 | 520 | 582 | 741 | 1,004 | 951 | 1,219 | 1,450 | 1,324 | 1,275 | 1,325 |
| Sales YoY Gr. | - | 0.1% | 11.9% | 27.3% | 35.5% | -5.3% | 28.1% | 19% | -8.7% | -3.8% | - |
| Adj EPS ⓘ | 4.5 | 4.3 | 4.7 | 11.3 | 18.7 | 22.4 | 37.6 | 44.9 | 26.7 | 16 | 25.2 |
| YoY Gr. | - | -4.2% | 9% | 139.8% | 65.6% | 19.7% | 67.5% | 19.6% | -40.6% | -40.2% | - |
| BVPS (₹) ⓘ | 20.2 | 23.8 | 29.7 | 40.3 | 58.4 | 82.2 | 132 | 178.6 | 204 | 219.3 | 235.1 |
| Adj Net Profit ⓘ | 17.4 | 16.9 | 18.5 | 44.2 | 73.2 | 87.6 | 150 | 180 | 107 | 63.8 | 101 |
| Cash Flow from Ops. ⓘ | 17 | 16.5 | 30.5 | 52 | 87.7 | 54.2 | 60.4 | 98.1 | 123 | 136 | - |
| Debt/CF from Ops. ⓘ | 5.2 | 5.8 | 2.8 | 1.5 | 0.6 | 0.8 | 0.8 | 0.9 | 0.7 | 1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 10.5% | 4.9% | 1.5% | -3.8% | ||||
| Adj EPS ⓘ | 15% | -3.2% | -24.8% | -40.2% | ||||
| BVPSⓘ | 30.4% | 30.3% | 18.4% | 7.5% | ||||
| Share Price | - | - | -11.3% | 28.3% | ||||
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 % ⓘ | 22.8 | 18.3 | 17.2 | 32.4 | 38 | 31.9 | 35.4 | 28.9 | 13.9 | 7.5 | 11.1 |
| Op. Profit Mgn % ⓘ | 7.8 | 7.7 | 8.1 | 11.9 | 13.1 | 13.6 | 18.2 | 17.9 | 12.2 | 7.6 | 10.8 |
| Net Profit Mgn % ⓘ | 3.4 | 3.3 | 3.2 | 6 | 7.3 | 9.2 | 12.3 | 12.4 | 8.1 | 5 | 7.6 |
| Debt to Equity ⓘ | 1.1 | 1 | 0.7 | 0.5 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0 |
| Working Cap Days ⓘ | 187 | 194 | 168 | 162 | 157 | 174 | 151 | 169 | 211 | 263 | 116 |
| Cash Conv. Cycle ⓘ | 50 | 62 | 67 | 45 | 32 | 38 | 51 | 86 | 121 | 123 | 37 |
No data to display
Return on Equity has declined versus last 3 years average to 11.10%
Sales growth has been subdued in last 3 years 1.51%
Net Profit has been subdued in last 3 years -24.84%
Sales growth is not so good in last 4 quarters at 5.74%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 25.2 | 17.1 |
| TTM Sales (₹ Cr.) | 1,325 | 1,291 |
| BVPS (₹.) ⓘ | 235.1 | 223.1 |
| Reserves (₹ Cr.) ⓘ | 901 | 853 |
| P/BV ⓘ | 1.93 | 2.04 |
| PE ⓘ | 18.05 | 26.62 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 278.15 / 561.00 |
| All Time Low / High (₹) | 265.00 / 944.95 |
| Market Cap (₹ Cr.) | 1,818 |
| Equity (₹ Cr.) | 40 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 43.1 |
| 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 | 520 | 520 | 582 | 741 | 1,004 | 951 | 1,219 | 1,450 | 1,324 | 1,275 |
| Operating Expenses ⓘ | 479 | 481 | 535 | 653 | 873 | 822 | 997 | 1,191 | 1,163 | 1,178 |
| Manufacturing Costs | 34 | 32 | 36 | 56 | 73 | 72 | 75 | 122 | 142 | 139 |
| Material Costs | 375 | 373 | 418 | 504 | 698 | 637 | 780 | 931 | 888 | 892 |
| Employee Cost | 23 | 27 | 32 | 33 | 38 | 46 | 52 | 58 | 64 | 73 |
| Other Costs ⓘ | 47 | 48 | 49 | 61 | 65 | 66 | 90 | 80 | 69 | 75 |
| Operating Profit ⓘ | 41 | 40 | 47 | 88 | 131 | 129 | 221 | 260 | 161 | 97 |
| Operating Profit Margin (%) | 7.8% | 7.6% | 8.1% | 11.8% | 13.1% | 13.6% | 18.2% | 17.9% | 12.2% | 7.6% |
| Other Income ⓘ | 8 | 7 | 3 | 5 | 7 | 17 | 7 | 19 | 14 | 30 |
| Interest ⓘ | 14 | 13 | 12 | 12 | 11 | 9 | 5 | 4 | 8 | 12 |
| Depreciation ⓘ | 5 | 4 | 4 | 5 | 6 | 8 | 15 | 20 | 23 | 25 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 29 | 29 | 33 | 76 | 122 | 129 | 208 | 255 | 144 | 90 |
| Tax ⓘ | 11 | 12 | 14 | 29 | 47 | 31 | 54 | 66 | 34 | 24 |
| Profit After Tax | 18 | 17 | 19 | 47 | 75 | 98 | 154 | 189 | 110 | 66 |
| PAT Margin (%) | 3.5% | 3.2% | 3.3% | 6.3% | 7.5% | 10.3% | 12.7% | 13.0% | 8.3% | 5.2% |
| Adjusted EPS (₹) | 4.8 | 4.3 | 4.9 | 12.0 | 19.3 | 25.0 | 38.5 | 47.3 | 27.5 | 16.6 |
| Dividend Payout Ratio (%) | 10% | 13% | 6% | 9% | 5% | 4% | 4% | 4% | 5% | 8% |
| 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 | 84 | 99 | 116 | 157 | 228 | 321 | 528 | 714 | 816 | 877 |
| Share Capital ⓘ | 8 | 8 | 8 | 8 | 39 | 39 | 40 | 40 | 40 | 40 |
| Reserves ⓘ | 76 | 91 | 108 | 150 | 189 | 282 | 488 | 674 | 776 | 837 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 88 | 96 | 84 | 76 | 50 | 43 | 50 | 90 | 89 | 139 |
| Long Term Debt | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 87 | 95 | 84 | 76 | 50 | 43 | 50 | 90 | 89 | 139 |
| Trade Payables | 126 | 92 | 97 | 178 | 235 | 212 | 196 | 246 | 187 | 287 |
| Others Liabilities ⓘ | 50 | 60 | 24 | 39 | 47 | 48 | 68 | 55 | 61 | 83 |
| Total Liabilities ⓘ | 347 | 347 | 321 | 450 | 560 | 625 | 842 | 1,105 | 1,152 | 1,387 |
Fixed Assets | ||||||||||
| Gross Block | 84 | 87 | 89 | 102 | 113 | 166 | 218 | 292 | 305 | 383 |
| Accumulated Depreciation | 42 | 46 | 51 | 56 | 62 | 70 | 85 | 98 | 119 | 143 |
| Net Fixed Assetsⓘ | 41 | 41 | 38 | 46 | 51 | 95 | 133 | 193 | 186 | 240 |
| CWIP ⓘ | 0 | 3 | 0 | 1 | 16 | 38 | 10 | 14 | 42 | 11 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 4 | 10 | 2 | 1 | 2 |
| Inventories | 109 | 78 | 98 | 94 | 114 | 146 | 166 | 256 | 297 | 244 |
| Trade Receivables | 113 | 145 | 124 | 203 | 253 | 258 | 342 | 447 | 388 | 498 |
| Cash Equivalents | 14 | 16 | 10 | 12 | 21 | 3 | 98 | 123 | 119 | 22 |
| Others Assetsⓘ | 70 | 64 | 50 | 94 | 105 | 81 | 83 | 70 | 120 | 369 |
| Total Assets ⓘ | 347 | 347 | 321 | 450 | 560 | 625 | 842 | 1,105 | 1,152 | 1,387 |
| 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 | 16 | 30 | 52 | 88 | 54 | 60 | 98 | 123 | 136 |
| PBT ⓘ | 29 | 29 | 35 | 76 | 122 | 129 | 208 | 255 | 144 | 90 |
| Adjustment ⓘ | 19 | 16 | 23 | 15 | 16 | 10 | 25 | 27 | 19 | 14 |
| Changes in Working Capital ⓘ | -24 | -18 | -10 | -22 | -2 | -45 | -121 | -111 | -6 | 51 |
| Tax Paid ⓘ | -7 | -11 | -17 | -17 | -49 | -40 | -52 | -73 | -35 | -20 |
| Cash Flow From Investing Activity ⓘ | -23 | -19 | -6 | -25 | -37 | -52 | -41 | -82 | -100 | -264 |
| Capex | -9 | -7 | -5 | -14 | -26 | -48 | -24 | -81 | -61 | -43 |
| Net Investments | 0 | 0 | -1 | 0 | -1 | -4 | -18 | -3 | 10 | 8 |
| Others ⓘ | -13 | -12 | 0 | -11 | -11 | 0 | 2 | 2 | -49 | -229 |
| Cash Flow From Financing Activityⓘ | 12 | 5 | -25 | -26 | -41 | -20 | 62 | -6 | -18 | 41 |
| Net Proceeds from Shares ⓘ | 1 | 0 | 0 | 0 | 0 | 0 | 60 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | -12 | -11 | -10 | -8 | -5 | -2 | -7 | -9 |
| Dividend Paid ⓘ | -3 | -3 | -1 | -6 | -4 | -4 | -6 | -3 | -8 | -5 |
| Others ⓘ | 13 | 8 | -12 | -8 | -27 | -8 | 13 | -2 | -3 | 55 |
| Net Cash Flow ⓘ | 6 | 2 | -1 | 1 | 9 | -18 | 82 | 10 | 4 | -87 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 26.48 | 19.6 | 18.16 | 34.3 | 39.12 | 35.57 | 36.33 | 30.43 | 14.39 | 7.84 |
| ROCE (%) | 28.48 | 23.89 | 23.39 | 40.6 | 51.94 | 42.89 | 45.35 | 37.52 | 17.79 | 10.63 |
| Asset Turnover Ratio | 1.65 | 1.56 | 1.82 | 1.93 | 1.99 | 1.7 | 1.77 | 1.51 | 1.19 | 1.02 |
| PAT to CFO Conversion(x) | 0.94 | 0.94 | 1.58 | 1.11 | 1.17 | 0.55 | 0.39 | 0.52 | 1.12 | 2.06 | Working Capital Days |
| Receivable Days | 74 | 87 | 81 | 80 | 83 | 93 | 84 | 98 | 113 | 124 |
| Inventory Days | 69 | 63 | 53 | 47 | 38 | 47 | 44 | 52 | 75 | 76 |
| Payable Days | 122 | 107 | 82 | 100 | 108 | 128 | 96 | 87 | 89 | 97 |
Heranba Industries is a crop protection chemical manufacturer, exporter and marketing company based out of Vapi, Gujarat. It manufactures Intermediates, Technicals and Formulations. It is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrin etc. Its Pesticides range includes insecticides, herbicides, fungicides and public health products for pest control. Its business verticals include (a) Domestic Institutional sales of Technicals: manufacturing and selling of Technicals in bulk to domestic companies; (b) Technicals Exports: Exports of Technicals in bulk to customers outside India; (c) Branded Formulations: Manufacturing and selling of Formulations under its own brands through its own distribution network in India; (d) Formulations Exports: Export of Formulations in bulk and customer specified packaging outside India; and (e) Public Health: Manufacturing and selling of general insect control chemicals by participating in public health tenders issued by governmental authorities and selling to pest management companies.
Business area of the company
The company is engaged in manufacturing process which mainly includes chemical reactions of ammonolysis, esterification, hydrolysis, condensation, favorski reaction, isomerisation, cyanation, friedel crafts, methoxylation, cyclisation and halogenation. It has its inhouse R&D team for product development and improvisation which is well supported by its product registration team. Its R&D facilities at Unit I and II are recognized by the Department of Scientific and Industrial Research, Ministry of Science & Technology, Government of India (DSIR). Its new R&D facility at Unit III, Sarigam has become operational from October, 2020.
Major events and milestones:
Awards and Recognitions:
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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.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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