Scrip Watch

GSFC Ltd

Scrip Sanctuaries for protection from the wildlife in this jungle of Indian Equities

GSFC Ltd

GSFC Ltd
Fertilizers
FV – Rs 2; 52wks H/L –98.7/57.65; TTQ – 4.34 Lacs; CMP – Rs 97.05  (As On October 21st 2016; 11.00);                                 

 Market Cap – Rs3857 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
79.7 4787 106 6228 387.43 120 9.72 9.98 20.40 0.81 37.84 1.08

 

Standalone Financials and Valuations for Q1 FY17


Equity Capital

Net worth

Total
Sales
PAT
BV
(Rs)

TTM EPS (Rs)

TTM P/E

Industry P/E

P/BV

Promoter’s
Stake
Beta
79.7 4787 1082 46.30 120 1.16 83.7 20.40 0.81 37.84 1.08

*In Sept,2012 there was a stock split from Rs.10 to Rs.2 per share.

Valuation Parameters:

  1. Long Term Debt to Equity – 0.02
  2. ROE % – 8.1
  3. Market Cap/Sales – 0.62

GSFC is India’s largest producer of the chemical Caprolactam and also has a leading position in the complex fertiliser.

Gujarat State Fertilisers and Chemicals Ltd explores setting up urea plant in Congo. (1.3 million tonne urea plant in Iran and a consortium of Indian fertiliser firms has shortlisted Iran’s Falat Group Co. to set the Rs.5,000 crore joint venture (JV) urea manufacturing plant. )

http://www.vccircle.com/infracircle/gujarat-state-fertilisers-chemicals-ltd-explores-setting-urea-plant-congo/

Urea manufacturing plants have made the record production of 411431 tonnes during FY 2015-16.

Overview:

  • Established in the year 1962, Gujarat State Fertilizers and Chemicals Limited is a leading fertilisers and industrial chemical products manufacturer.
  • The Company is engaged in manufacturing and marketing fertilizers, petrochemicals, chemicals, industrial gases, plastics, fibers and other products.
  • GSFC operates in two segments: Fertilizer Products and Industrial Products.
  • Its fertilizer products include urea, ammonium sulphate, di-ammonium phosphate, ammonium phosphate sulphate, nitrogen phosphorus and potassium (NPK) and traded fertilizer products.
  • GSFC Industrial Products include caprolactam, nylon-6, nylon filament yarn, nylon chips, melamine, polymer products and traded industrial products.
  • Manufacturing facilities of the Company are located at Vadodara, Surat and Jamnagar in Gujarat.

 

Projects Under Execution:

Project Location Expected Capacity
DAP/NPK Train 4 Sikka 5 lakh MTPA
Nylon-6 Vadodara 15,000 MTPA
Water soluble fertilizers Vadodara 20,000 MTPA
Melamine Vadodara 40,000 MTPA

 

Projects Under consideration:

Project Location Expected Capacity
Phosphoric Acid Sikka 1.65 lakh MTPA
Sulphuric Acid Sikka 6 lakh MTPA
Amonia Dahej 7.26 lakh MTPA
Urea Dahej 10 lakh MTPA
Caprolactam Dahej 1 lakh MTPA
Melamine Dahej 40,000 MTPA
MMA Dahej 50,000 MTPA
PMMA Dahej 25,000 MTPA
Nylon 6 Dahej 30,000 MTPA

 

Management:

  • Mr. A M Tiwari  – MD
  • Mr. G R Aloria – Chairman
  • Mr. V. D. Nanavaty  – CFO

The Equity Capital is @ Rs 79.7 Crs consisting of 398477530 equity Shares of FV Rs 2 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 Reliance Capital Trustee Company Limited A/C Reliance Growth Fund 11922972 2.99
2 Ghi Ltp Ltd 6114648 1.53
3 Government Pension Fund Global 6903901 1.73
4 Fidelity Puritan Trust-Fidelity Low-Priced Stock Fund 31500000 7.91
5 Life Insurance Corporation Of India 31778658 7.98
6 Gujarat Mineral Development Corporation Ltd 5000000 1.25
7 Gujarat Narmada Valley Fertilizers Company Limited 7500000 1.88
8 Gujarat Alkalies And Chemicals Limited 7500000 1.88

 

Snapshot of Prices since 2000 :

Year Open Price (Rs.) High Price (Rs.) Low Price (Rs.) Close Price (Rs.)
2000 56 56 37 37
2000 50 63.5 19.15 26.5
2001 26.7 34.6 16 16.65
2001 17.6 17.6 9 11.9
2002 11.2 41 9.15 25.35
2003 25.9 56.7 14.05 49
2004 49 103.4 41.05 97.2
2005 97.65 167.8 93.9 160.5
2006 161.95 251 144.5 180.55
2007 181 357 151.8 340.15
2008 345 370 61 74.5
2009 74.2 197 71 190.65
2010 193 412.9 190.5 376.7
2011 371.15 503.95 316.15 332.05
2012 334 455.7 64.75 66.5
2013 67 73.9 44.2 53.95
2014 54.4 124.5 43.7 105.1
2015 106 124.25 61 74.05
2016 74.4 98.35 57.65 96.25

 

 

Consolidated Financial Trends (In Rs. Crs) :

Particulars FY16 FY15 FY14 FY13 FY12 FY11
Equity Paid Up 79.7 79.7 79.7 79.7 79.7 79.7
Networth 4787 4505 4191 3942 3517 2829
Total Debt 1190 703 749 1505 617 392
Net Sales 6228 5426 5570 6391 5464 4856
Other Income 64 101 157 138 162 101
PAT 387.43 409.49 342.17 518.1 757.57 749.37
Book Value (Rs) 120 113 105 99 88 71
EPS (Rs) 9.72 10.28 8.59 13.00 19.01 18.80

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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