Bhansali Engineering Polymers Ltd
Specialty Chemicals
FV – Rs 1; 52wks H/L –26.39/12.6 ; TTQ – 1.48 Lacs; CMP – Rs 25.35(As On October 28th 2015; 11:00) ;
Market Cap – Rs 420.57 Crs
Standalone Financials and Valuations for FY15 (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 |
| 16.6 | 186 | 5 | 602 | 5.4 | 11 | 0.33 | 76 | 26.53 | 2.3 | 51.59 | 0.73 |
Standalone Financials and Valuations for H1 FY16
Equity Capital |
Net worth |
Total Sales |
PAT | BV (Rs) |
TTM EPS (Rs) |
TTM P/E |
Industry P/E |
P/BV |
Promoter’s Stake |
Beta |
| 16.6 | 195 | 122 | 5.2 | 11 |
0.98 |
26 |
26.53 |
2.3 |
51.59 |
0.73 |
Valuation Parameters:
- Market Cap/Sales – 0.7
- Long Term Debt to Equity- 0.03
- ROE% – 2.9
- EV/Net Sales – 0.74
Overwiew:
Bhansali Engineering Polymers Limited (BEPL) is an Indian petrochemical company. BEPL is engaged in the manufacturing of acrylonitrile butadiene styrene (ABS), which acts as a raw material for companies dealing in automobiles, home appliances, telecommunications, luggage, bus body and various other applications. BEPL manufactures and produces variety of special grades and 1,200 different colour shades meeting customer’s requirement and different applications. Its products include general ABS, super heat resistant, flame retardant ABS, PC/ABS alloys, transparent abs, extrusion ABS, styrene acrylonitrile (SAN) resins and PVC modifiers. The Company has two plants, including Abu Road Plant in Rajasthan and Satnoor Plant in Madhya Pradesh.
Management:
- M. C. Gupta – Chairman
- B. M. Bhansali – MD
- Jayesh Bhansali – CFO
The Equity Capital is @ Rs 16.6 Crs consisting of 165905640 equity Shares of FV Rs 1 currently held as under
30.14% Of the Promoter’s Holding is Pledged.
Major Non-Promoter Holdings:
| Sr.No | Non – Promoters | No. of Shares held | % of shares held |
| 1 | MKJ Enterprises Ltd | 8883152 | 5.35 |
| 2 | Jagruti Resins Pvt Ltd | 8291909 | 5 |
| 3 | Mantu Housing Projects Ltd | 8158858 | 4.92 |
| 4 | Sarvesh Housing Projects Pvt Ltd | 6626217 | 3.99 |
| 5 | Twenty First Century Securities Ltd | 5217748 | 3.15 |
| 6 | Madanlal Ltd | 5006516 | 3.02 |
| 7 | The Right Address Ltd | 3684701 | 2.22 |
| 8 | MKJ Developers Ltd | 2007400 | 1.21 |
| Total | 47876501 | 28.86 |
Standalone Financial Trends (In Rs. Crs) :
| Particulars | FY15 | FY14 | FY13 | FY12 | FY11 |
| Equity Paid Up | 16.6 | 16.6 | 16.6 | 16.6 | 16.6 |
| Networth | 186 | 191 | 200 | 211 | 222 |
| Total Debt | 41 | 57 | 29 | 55 | 56 |
| Net Sales | 602 | 508 | 419 | 415 | 468 |
| Other Income | 1.8 | 1.1 | 0.9 | 0.7 | 3.7 |
| PAT | 5.4 | 1.5 | 1.2 | 1.1 | 33.4 |
| Book Value (Rs) | 11 | 12 | 12 | 13 | 13 |
| EPS (Rs) | 0.33 | 0.09 | 0.07 | 0.07 | 2.01 |
