BSE:500184

Stock Analysis Report

Himadri Speciality Chemical

Executive Summary

Himadri Speciality Chemical Limited manufactures and sells carbon materials and chemicals in India and internationally.


Snowflake Analysis

Flawless balance sheet and good value.

Share Price & News

How has Himadri Speciality Chemical's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 500184's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

37.7%

500184

-2.1%

IN Chemicals

-3.6%

IN Market


1 Year Return

-63.7%

500184

-17.6%

IN Chemicals

-32.1%

IN Market

Return vs Industry: 500184 underperformed the Indian Chemicals industry which returned -17.6% over the past year.

Return vs Market: 500184 underperformed the Indian Market which returned -32.1% over the past year.


Shareholder returns

500184IndustryMarket
7 Day37.7%-2.1%-3.6%
30 Day-5.5%-23.8%-26.9%
90 Day-32.8%-21.3%-31.5%
1 Year-63.7%-63.7%-14.1%-17.6%-30.7%-32.1%
3 Year-16.3%-16.6%8.7%2.0%-19.7%-24.1%
5 Year83.3%82.5%57.5%44.0%-10.4%-15.2%

Price Volatility Vs. Market

How volatile is Himadri Speciality Chemical's share price compared to the market and industry in the last 5 years?


Simply Wall St News

1 year ago | Simply Wall St

Best High Growth BSE Stocks This Week

1 year ago | Simply Wall St

Best High Growth BSE Stocks This Week

1 year ago | Simply Wall St

Best High Growth BSE Stocks This Week

Valuation

Is Himadri Speciality Chemical undervalued compared to its fair value and its price relative to the market?

29.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 500184 (₹42) is trading below our estimate of fair value (₹59.34)

Significantly Below Fair Value: 500184 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 500184 is poor value based on its PE Ratio (8.4x) compared to the Chemicals industry average (7.7x).

PE vs Market: 500184 is good value based on its PE Ratio (8.4x) compared to the Indian market (9.4x).


Price to Earnings Growth Ratio

PEG Ratio: 500184 is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: 500184 is overvalued based on its PB Ratio (1x) compared to the IN Chemicals industry average (0.8x).


Next Steps

Future Growth

How is Himadri Speciality Chemical forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

11.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 500184's forecast earnings growth (11.1% per year) is above the savings rate (6.5%).

Earnings vs Market: 500184's earnings (11.1% per year) are forecast to grow slower than the Indian market (19.2% per year).

High Growth Earnings: 500184's earnings are forecast to grow, but not significantly.

Revenue vs Market: 500184's revenue (18.7% per year) is forecast to grow faster than the Indian market (8.8% per year).

High Growth Revenue: 500184's revenue (18.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 500184's Return on Equity is forecast to be low in 3 years time (12.4%).


Next Steps

Past Performance

How has Himadri Speciality Chemical performed over the past 5 years?

39.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 500184 has high quality earnings.

Growing Profit Margin: 500184's current net profit margins (10.3%) are lower than last year (13.1%).


Past Earnings Growth Analysis

Earnings Trend: 500184 has become profitable over the past 5 years, growing earnings by 39.2% per year.

Accelerating Growth: 500184's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 500184 had negative earnings growth (-31.4%) over the past year, making it difficult to compare to the Chemicals industry average (10%).


Return on Equity

High ROE: 500184's Return on Equity (12.3%) is considered low.


Next Steps

Financial Health

How is Himadri Speciality Chemical's financial position?


Financial Position Analysis

Short Term Liabilities: 500184's short term assets (₹10.0B) exceed its short term liabilities (₹8.1B).

Long Term Liabilities: 500184's short term assets (₹10.0B) exceed its long term liabilities (₹2.2B).


Debt to Equity History and Analysis

Debt Level: 500184's debt to equity ratio (23.5%) is considered satisfactory.

Reducing Debt: 500184's debt to equity ratio has reduced from 149.5% to 23.5% over the past 5 years.

Debt Coverage: 500184's debt is well covered by operating cash flow (101.4%).

Interest Coverage: 500184's interest payments on its debt are well covered by EBIT (6.9x coverage).


Balance Sheet

Inventory Level: 500184 has a high level of physical assets or inventory.

Debt Coverage by Assets: 500184's debt is covered by short term assets (assets are 2.5x debt).


Next Steps

Dividend

What is Himadri Speciality Chemical's current dividend yield, its reliability and sustainability?

0.36%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 500184's dividend (0.36%) isn’t notable compared to the bottom 25% of dividend payers in the Indian market (0.96%).

High Dividend: 500184's dividend (0.36%) is low compared to the top 25% of dividend payers in the Indian market (4.06%).


Stability and Growth of Payments

Stable Dividend: 500184 is not paying a notable dividend for the Indian market, therefore no need to check if payments are stable.

Growing Dividend: 500184 is not paying a notable dividend for the Indian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: 500184 is not paying a notable dividend for the Indian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 500184's dividend in 3 years as they are not forecast to pay a notable one for the Indian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.8yrs

Average management tenure


CEO

Anurag Choudhary (47yo)

9.75s

Tenure

₹15,068,000

Compensation

Mr. Anurag Kumar Choudhary has been the Chief Executive Officer of Himadri Speciality Chemical Limited (formerly known as Himadri Chemicals and Industries Limited) since July 1, 2010 and serves as its Mana ...


CEO Compensation Analysis

Compensation vs Market: Anurag's total compensation ($USD197.49K) is below average for companies of similar size in the Indian market ($USD331.08K).

Compensation vs Earnings: Anurag's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Bankey Choudhary
Executive Chairman0.67yr₹13.02m0.55% 96.9m
Anurag Choudhary
CEO, MD & Director9.75yrs₹15.07mno data
Kamlesh Agarwal
CFO and Senior VP of Finance & Accounts6yrs₹9.73m0.0044% 779.2k
Tushar Choudhary
President of Operations & Whole-time Director0.67yr₹12.56mno data
Santanu Chatterjee
Senior Vice President of HR & Administrationno data₹3.66m0.00098% 172.4k
Shyam Choudhary
Whole-time Director32.75yrs₹13.05m0.95% 167.9m
Amit Choudhary
President of Projects & Whole-time Director0.67yr₹12.56mno data
Vijay Choudhary
Whole-time Director6yrs₹12.57m0.98% 171.8m
Monojit Mukherjee
Business Head of Carbon Black Divisionno data₹14.00mno data
Anand Prakash
Senior Vice Presidentno datano datano data

9.8yrs

Average Tenure

48yo

Average Age

Experienced Management: 500184's management team is seasoned and experienced (9.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Bankey Choudhary
Executive Chairman0.67yr₹13.02m0.55% 96.9m
Anurag Choudhary
CEO, MD & Director9.75yrs₹15.07mno data
Tushar Choudhary
President of Operations & Whole-time Director0.67yr₹12.56mno data
Shyam Choudhary
Whole-time Director32.75yrs₹13.05m0.95% 167.9m
Amit Choudhary
President of Projects & Whole-time Director0.67yr₹12.56mno data
Vijay Choudhary
Whole-time Director6yrs₹12.57m0.98% 171.8m
Damodar Choudhary
Chairman Emeritusno data₹20.00k0.56% 98.0m
Sakti Banerjee
Non-Executive Independent Director13.75yrs₹212.00kno data
Santimoy Dey
Non-Executive Independent Director5.92yrs₹212.00kno data
Hanuman Choraria
Non-Executive Independent Director5.67yrs₹164.00kno data

5.7yrs

Average Tenure

64.5yo

Average Age

Experienced Board: 500184's board of directors are considered experienced (5.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Himadri Speciality Chemical Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Himadri Speciality Chemical Limited
  • Ticker: 500184
  • Exchange: BSE
  • Founded: 1987
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Market Cap: ₹17.590b
  • Shares outstanding: 418.81m
  • Website: https://www.himadri.com

Location

  • Himadri Speciality Chemical Limited
  • Ruby House 8
  • 2nd Floor
  • Kolkata
  • West Bengal
  • 700001
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
500184BSE (Mumbai Stock Exchange)YesEquity SharesININRSep 2004
HSCLNSEI (National Stock Exchange of India)YesEquity SharesININRSep 2004

Biography

Himadri Speciality Chemical Limited manufactures and sells carbon materials and chemicals in India and internationally. It offers coal tar pitches, including aluminium grade pitches that are used as a pre-baked anode and Soderberg in aluminum manufacturing; graphite grade binder pitches for graphite electrode manufacturing; graphite grade zero QI impregnating pitches, which are used in electrode, nipple impregnation, and UHP grade electrode manufacturing; special pitches for DRDO; HSCP, an anode material for lithium-ion batteries; and other pitches that are used in refractories, carbon paste, paints/ultramarine blue, proofing, Himcoat enamel, Himcoat primer-B, Himtape and Himwrap, and other applications. The company's carbon materials include coke granules and powder, and synthetic and natural graphite powder for power battery application. It also provides carbon; refined naphthalene for dyes and dye intermediates, and moth balls; and sulphonated naphthalene formaldehyde and polycarboxylate ether for use in agrochemicals, gypsum board, rubber, and concrete. In addition, the company offers anti-corrosion products for chemical factories, vessels, water treatment plants, breweries, milk chilling plants, etc. Further, it provides specialty oils comprising light creosote, wash/gas scrubbing, phenyl grade, wood preservative/creosote, anthracene, carbon black, and fuel oils, as well as coal flow and bulk density enhancers, BTX products, and industrial solvents. Additionally, the company generates power through gas produced during carbon black processing. It serves lithium-ion batteries, aluminum, graphite, infrastructure/construction, tires, mechanical rubber goods, plastics, dyes and intermediaries, and other industries. The company was formerly known as Himadri Chemicals & Industries Limited and changed its name to Himadri Speciality Chemical Limited in July 2016. Himadri Speciality Chemical Limited was founded in 1987 and is based in Kolkata, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 14:42
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.