Deepak Fertilisers & Petrochemicals Corporation Ltd

Deepak Fertilisers & Petrochemicals Corporation Ltd
Commodity Chemicals
FV – Rs 10; 52wks H/L –253.45/128.15; TTQ – 50 K; CMP – Rs 221 (As On January 4, 2017);                      

            Market Cap – Rs 1951 Crs

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
88.2 1534 489 4422 115.32 174 13.07 17 20.64 1.27 51.07 0.55

 

Standalone Financials and Valuations for H1 FY17


Equity Capital
Net worth		 Long Term Debt
Total
Sales		 PAT
BV
(Rs)
EPS (Rs)
P/E
Industry P/E
P/BV
Promoter’s
Stake		 Beta
88.2 1661 449 1983 61.68 188 6.99 31.62 20.64 1.18 51.07 0.55

 

Valuation Parameters:

  1. Long Term Debt to Equity – 0.32
  2. ROE % – 7.5
  3. Market Cap/Sales – 0.44
  • Deepak Fertilisers’ current capacity is close to 840,000 metric tonne per annum (MTPA), but most of which is used for captive consumption with only 160,000 MTPA available for merchant sale. With the new Dahej plant, the company will be able to provide an incremental 148,000 MTPA.

Overview:

  • Deepak Fertilisers and Petrochemicals Corporation Ltd is a manufacturer of fertilizers.
  • The Company’s segments include Chemicals, which offers products, such as ammonia, methanol, dilute nitric acid (DNA), concentrated nitric acid (CAN), carbon dioxide (CO2), technical ammonium nitrate (TAN), iso propyl alcohol (IPA), propane, and bulk and specialty chemicals; Bulk Fertilisers, which offers products, including nitro phosphate (NP), muriate of potash (MOP), diammonium phosphate (DAP), ammonium sulfate, mixtures, single superphosphate (SSP), sulfur, micronutrients, bio fertilizers, fruits, vegetables and pesticides; Realty, which includes real estate business, and Others, which provides windmill power.
  • Its principal products/services include Nitrophosphate (Fertilisers), Complexes (Fertilisers) and TAN.
  • Its primary brand is Mahadhan. It manufactures prilled nitro phosphate fertilizer under the brand name Mahadhan Mahapower.

 

Management:

  • S. C. Mehta – CMD
  • Vipin Agarwal – CFO

 

The Equity Capital is @ Rs 88.2 Crs consisting of 88204943 equity Shares of FV Rs 10 currently held as under

None Of the Promoter’s Holding is pledged.

 

Major Non – Promoter Holdings:

Sr.No Non – Promoters No. of shares held % of shares held
1 Fidelity Northstar Fund 1250500 1.42
2 Fidelity Purtian Trust 7569000 8.58
3 ICICI Lombard General Insurance Co. Ltd 1850000 2.1
4 ICICI Prudential Life Insurance Co. Ltd 1565589 1.77

 

 

Consolidated Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 88.2 88.2 88.2 88.2 88.2 88.2
Networth 1534 1472 1453 1281 1213 1059
Total Debt 1898 1124 824 1018 778 707
Net Sales 4422 3841 3969 2731 2449 1661
Other Income 70 29 49 58 37 33
PAT 115.32 67.99 240.5 129.3 211.7 187.52
Book Value (Rs) 174 167 165 145 138 120
EPS (Rs) 13.07 7.71 27.27 14.66 24.00 21.26