Table of Contents

Zuari Agro Chemicals Ltd

Updated on November 17, 2024

Stock/Share Code - ZUARI

Zuari Agro Chemicals Limited is a fertilizer company. The Company is engaged in the manufacture, sale and trading of fertilizers and seeds. The Company is also an importer of fertilizers and farm nutrients.

Below is the details of ZUARI Zuari Agro Chemicals Ltd

Market Cap	₹366.54 Cr.
Current Price	₹126.05 as on 23 Mar 23
52 Week High / Low Price	₹143.9 / ₹43.25
Face Value	₹10
Stock P/E
Book Value	₹27.83
Dividend Yield	0.00 %
ROCE	-15.20 %
ROE	-398 %
Sales Growth (3yrs)	-20.96 %
Sector	Fertilizers
Industry	Fertilizers
Listed on	BSE AND NSE
Company Website	Company Website

Pros: Company has reduced debt.

Cons: Stock is trading at 3.12 times its book value Company has low interest coverage ratio. The company has delivered a poor growth of -18.23% over past five years. Company has a low return on equity of -75.21% for last 3 years. Contingent liabilities of Rs.144.05 Cr. Company's cost of borrowing seems high

Zuari Agro Chemicals Ltd Price Chart

Zuari Agro Chemicals Ltd Peer Comparison in Fertilizers

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Qtr Sales Var %	Sales Qtr Rs.Cr.	ROCE %
1.		17.78	₹22,283.37 Cr.	1.58	₹250.57 Cr.	301.36	50.80	3213.23	26.42
2.	Chambal Fert.		4.93	₹6,176.52 Cr.	2.70	₹298.78 Cr.	80.30	12.75	3218.67	13.52
3.		7.13	₹3,150.36 Cr.	2.47	₹2.97 Cr.	-95.72	-42.13	700.23	7.52
4.	F A C T		2.92	₹3,031.52 Cr.	0.00	-₹17.56 Cr.	78.12	57.12	551.80	35.85
5.	R C F		9.26	₹2,615.01 Cr.	1.63	₹19.2 Cr.	140.60	-32.72	1621.05	7.53
6.	G S F C		26.14	₹2,564.2 Cr.	1.86	₹30.27 Cr.	-27.62	-4.91	1636.58	3.05
7.	Natl.Fertilizer		8.59	₹1,721.94 Cr.	2.71	-₹248.65 Cr.	80.09	-3.79	3014.43	5.74
8.	Zuari Agro Chem.			₹366.54 Cr.	0.00	₹320.66 Cr.	-64.57	-70.11	398.46	-15.20

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Zuari Agro Chemicals Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020
Sales -	741	1,354	1,434	1,118	1,347	1,468	908	1,333	1,147	522	150	398
YOY Sales Growth %	-24%	29%	46%	16%	82%	8%	-37%	19%	-15%	-64%	-83%	-70%
Expenses -	717	1,224	1,309	1,057	1,279	1,400	900	1,357	1,149	645	307	551
Material Cost %	70%	73%	74%	73%	75%	76%	73%	82%	81%	94%	125%	66%
Employee Cost %	3%	2%	2%	2%	2%	2%	3%	2%	2%	5%	13%	5%
Operating Profit	25	130	126	61	68	68	8	-24	-2	-123	-156	-153
OPM %	3%	10%	9%	5%	5%	5%	1%	-2%	-0%	-24%	-104%	-38%
Other Income	16	14	18	8	16	18	35	-100	11	8	24	722
Interest	69	77	80	90	85	87	101	116	119	125	90	96
Depreciation	10	11	11	11	11	11	12	10	14	15	13	13
Profit before tax	-38	57	53	-33	-12	-12	-70	-250	-124	-255	-234	460
Tax %	29%	37%	9%	19%	29%	56%	2%	1%	0%	0%	45%	30%
Net Profit	-27	36	48	-27	-8	-5	-68	-247	-124	-255	-130	321
EPS in Rs	-6.52	8.64	11.42	-6.33	-1.98	-1.29	-16.25	-57.84	-29.55	-60.74	-31.07	76.24
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Sales -	0	0	6,181	5,233	5,173	5,504	5,264	4,077	4,648	4,731	2,013
Sales Growth %				-15%	-1%	6%	-4%	-23%	14%	2%	-57%
Expenses -	0	0	5,951	5,025	5,079	5,281	5,071	3,780	4,303	4,639	2,461
Material Cost %			84%	80%	78%	78%	80%	73%	73%	77%	85%
Manufacturing Cost %			5%	8%	10%	9%	13%	14%	16%	16%	18%
Employee Cost %			1%	1%	2%	2%	2%	2%	2%	2%	4%
Other Cost %			6%	6%	9%	7%	2%	3%	2%	3%	15%
Operating Profit	-0	0	229	208	94	223	193	296	344	92	-449
OPM %			4%	4%	2%	4%	4%	7%	7%	2%	-22%
Other Income	0	0	55	57	208	49	103	-7	53	-23	765
Interest	0	0	116	210	260	233	301	330	316	377	425
Depreciation	0	0	18	24	21	18	32	39	43	43	50
Profit before tax	-0	0	150	30	21	21	-37	-80	39	-351	-159
Tax %	0%		31%	20%	-26%	40%	75%	24%	22%	6%	-19%
Net Profit	-0	0	103	24	26	12	-9	-60	30	-329	-189
EPS in Rs		0.00	80.13	5.30	5.71	2.53	0.00	0.00	7.21	0.00	0.00
Dividend Payout %	0%		4%	52%	48%	68%	-93%	-7%	0%	0%	0%

Compounded Sales Growth

5 Years:: -18.23%
3 Years:: -20.96%
TTM:: -57.46%

Compounded Profit Growth

TTM:: -290.81%

Return on Equity

5 Years:: -11.87%
3 Years:: -41.55%
1 Year:: -11.19%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Share Capital -	0	2	42	42	42	42	42	42	42	42	42
Equity Capital	0.05	2.00	12.62	42.06	42.06	42.06	42.06	42.06	42.06	42.06	42.06
Reserves	-0	-0	743	752	764	761	747	620	632	274	75
Borrowings	0	0	2,965	2,914	2,614	2,382	3,353	3,096	3,140	3,521	1,804
Other Liabilities -	0	0	947	674	956	1,244	764	949	1,246	1,869	1,735
Trade Payables	0	0	746	475	586	940	511	603	921	1,497	1,398
Advance from Customers	0	0	4	26	106	73	58	104	160	134	59
Other liability items	0	0	197	173	265	232	195	241	165	238	278
Total Liabilities	0	2	4,667	4,382	4,376	4,430	4,906	4,707	5,060	5,706	3,656
Fixed Assets -	0	0	190	188	236	266	369	487	506	545	493
Gross Block	0	0	487	478	538	582	400	559	621	703	689
Accumulated Depreciation	0	0	297	290	302	316	30	72	114	158	196
CWIP	0	0	20	81	78	98	89	129	114	119	121
Investments	0	0	198	198	329	329	371	911	886	751	1,175
Other Assets -	0	2	4,260	3,916	3,733	3,737	4,078	3,180	3,554	4,291	1,868
Inventories	0	0	722	581	559	558	424	449	657	1,228	253
Trade receivables	0	0	2,952	2,963	2,863	2,652	2,707	2,211	2,204	2,409	821
Cash Equivalents	0	2	333	157	2	1	3	7	47	34	93
Loans n Advances	0	0	171	91	238	165	465	443	574	596	866
Other asset items	0	0	83	124	71	361	479	71	73	24	-166
Total Assets	0	2	4,667	4,382	4,376	4,430	4,906	4,707	5,060	5,706	3,656

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Cash from Operating Activity -	0	-2	-1,540	103	357	639	-397	786	279	-76	2,065
Profit from operations	-0	0	187	121	27	164	100	184	323	130	-242
Receivables	0	0	-2,017	-11	100	211	-55	550	-22	-216	1,446
Inventory	0	0	176	141	22	1	123	50	-208	-572	931
Payables	0	-0	21	-268	110	354	-428	81	306	590	-147
Loans Advances	0	-2	19	31	-59	41	-3	1	-8	17	-8
Other WC items	0	0	115	90	162	-124	-121	-48	-108	-39	79
Working capital changes	0	-2	-1,687	-18	335	483	-484	633	-41	-220	2,302
Direct taxes	0	0	-40	0	-5	-8	-13	-32	-3	14	6
Cash from Investing Activity -	0	0	-47	-106	-32	-237	-374	-2	-17	-39	56
Fixed assets purchased	0	0	-24	-80	-73	-74	-106	-126	-32	-85	-20
Fixed assets sold	0	0	0	2	165	5	1	1	0	0	7
Investments purchased	0	0	-2,748	-3,146	-542	-504	-147	-213	-0	0	-0
Investments sold	0	0	2,516	3,146	515	384	120	269	0	0	0
Interest received	0	0	15	6	17	21	90	67	24	34	51
Dividends received	0	0	9	10	0	0	-0	0	3	29	29
Invest in subsidiaries	0	0	0	0	0	0	-13	0	0	0	0
Investment in group cos	0	0	0	-49	0	0	0	0	0	0	0
Inter corporate deposits	0	0	0	0	0	0	0	0	-13	0	0
Other investing items	0	0	185	6	-115	-70	-320	0	0	-17	-10
Cash from Financing Activity -	0	2	1,920	-173	-481	-403	773	-785	-235	89	-2,076
Proceeds from shares	0	2	11	0	0	0	0	0	0	0	0
Proceeds from borrowings	0	0	2,885	1,496	0	0	354	3,381	3,671	4,643	523
Repayment of borrowings	0	0	-951	0	-126	-356	0	-3,288	-3,368	-4,262	-2,273
Interest paid fin	0	0	-24	-108	-166	-156	-188	-257	-265	-292	-314
Dividends paid	0	0	0	-13	-13	-13	-8	0	-4	0	0
Financial liabilities	0	0	0	0	0	0	0	0	0	0	-12
Other financing items	0	0	0	-1,549	-176	122	615	-620	-270	0	0
Net Cash Flow	0	0	332	-176	-155	-1	2	-1	27	-26	45

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Ratios

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
ROCE %	0%	14%	6%	6%	8%	8%	8%	10%	4%	-15%
Debtor Days		174	207	202	176	188	198	173	186	149
Inventory Turnover		15.03	6.97	7.73	8.38	9.05	7.29	6.59	4.19	2.58

Announcements & News

Recent Announcements

Credit Ratings

India Ratings Upgrades Zuari Agro Chemicals to ‘IND B’ and Places on RWE Jul 30 from fitch
Zuari Agro Chemicals Limited.: Ratings put under watch with developing implications Jul 20 from icra
Zuari Agro Chemicals Limited: Ratings upgraded Apr 15 from icra
Zuari Agro Chemicals Limited: Rating assigned to long term debt program 15 Jul 2019 from icra
India Ratings Downgrades Zuari Agro Chemicals to ‘IND D’ 24 May 2019 from fitch
Zuari Agro chemicals Limited: Ratings downgraded to [ICRA]D 23 May 2019 from icra

Annual Reports

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