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HIGH
MANAGEMENT EFFICIENCY
Low Debt Andhra
Petrochem
Outstanding
Results in Jun 21 Strong buy
Fair
BSE – 500012/ NSE – ANDHRAPET
Market Cap - Small Cap (Rs. 1,273 cr)
Sector – Petrochem
Valuation 52 w H/L (Rs.) – 197.4/25.8
Dividend Yield: 0%
Debt Equity: -0.24%
Return on Equity: 46.48%
Price to Book: 4.41
www.marketsmojo.com
Andhra Petrochem
CMP: 149.85 Strong Buy 87
Report as on 20 August 2021 at 09:33 AM
Strong Sell Sell Hold Buy Strong Buy
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Ja 1 9
O 20
Fe 1 8
Au 0
Fe 2 0
1
Ju 1
Ap 19
Ap 21
D -1 8
M -1 9
D -2 0
Ju 2 1
M 20
Ju 9
M -2 0
N -1 9
Ju 0
l- 2
l- 2
2
-1
-2
g-
g-
-
n-
b-
b-
r-
n-
ov
ec
ec
ct
ct
ar
ay
ay
Au
Period 6M 1Y 2Y 3Y
Stock (%) 204.39% 433.86% 277.91% 91.97%
WHAT ARE YOUR RISKS? Sector (%) 122.79% 122.79% 219.62% 58.86%
Sensex (%) 8.78% 44.83% 48.30% 44.61%
Despite the size of the company, domestic mutual
funds hold only 0.04% of the company
-Domestic mutual funds have capability to do in-depth
on-the-ground research on companies- their small
stake may signify either they are not comfortable at the
price or the business
MOJO PROFESSIONAL 1
Andhra Petrochem STRONG BUY | Report as on 20 August 2021 at 09:33 AM
Click Here
MOJO PROFESSIONAL 2
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MANAGEMENT RISK
ROCE
The company has been able to generate a Return on Capital
20.36% ROCE
Employed (avg) of 20.36% signifying high profitability per unit
of total capital (equity and debt)
Tax Ratio
High Tax Ratio signifies that the profits generated by the
38.71% Tax Ratio
company are real and it is making adequate contributions
towards by paying due taxes
Institutional Holding
Low Institutional Holdings at 0.03%- These investors have
0.03%
Institutional Holding
better capability and resources to analyse fundamentals of
companies than most retail investors
MOJO PROFESSIONAL 3
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CAPITAL STRUCTURE
MOJO PROFESSIONAL 4
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FINANCIAL TREND
Positive
RESULTS IN JUN 21
The company's ability to manage 47.17
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
positive
71.55
Rs 94.4
cr
36.52
PBT less Other Income (Rs Cr)
Highest at Rs 94.40 cr. and Grown 9.52
PBT - Quarterly each quarter in the last five quarters
-3.51
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
Rs 62.7 cr positive 47
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
MOJO PROFESSIONAL 5
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FINANCIAL TREND
72.5% 218.34
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
- Quarterly 15.33
2.26
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
MOJO PROFESSIONAL 6
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FINANCIAL TREND
shareholders 5.53
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
20
…
19
21
19
20
20
20
20
20
20
20
p
ar
ar
ar
p
p
Se
Se
Se
M
M
Company has been able to settle 129.24
MOJO PROFESSIONAL 7
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TECHNICALS
101.95%
42.97%
10.00% 49.96%
MOJO PROFESSIONAL 8
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VALUATION
valuation
T N Petro Prod.
Agarwal Indl.
Fair 60 4.8
Fundamental
Valuation
as compared to its 20 2.4
21
6
0
17
18
19
20
01
01
01
01
02
20
20
20
20
20
-2
-2
-2
-2
-2
g-
n-
n-
n-
n-
ec
ec
ec
ec
ec
Au
Ju
Ju
Ju
Ju
D
MOJO PROFESSIONAL 9
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perform, modify, create derivative works, transmit, or in any way exploit any such content. Unauthorized usage is an infringement of our intellectual property rights and
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MOJOSTOCK
MOJO PROFESSIONAL 10
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RETURNS
O 18
Ja 1 9
O 20
Fe 1 8
Fe 2 0
Se 9
A u -2 0
1
Ju 1
D -1 8
Ap 19
M -1 9
D -2 0
Ap 21
Ju 2 1
M 20
Ju 9
N -1 9
M -2 0
Ju 0
l- 1
l- 2
2
-1
-2
g-
g-
-
n-
b-
b-
r-
n-
ov
ec
ec
ct
ct
ay
ar
p
ay
Au
Andhra Petrochemicals Ltd BSE500
1st
Quartile
2ndQuartile
3rd
Quartile
Stock has been in the 2nd quartile in 2020
and in 1st in YTD period
MOJO PROFESSIONAL 11
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FACTORS
NOT WORKING
FOR THE COMPANY
MOJO PROFESSIONAL 12
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SHAREHOLDING
depth on-the-ground research on companies- their 0.02% 0.02% 0.02% 0.02% 0.02%
small stake may signify either they are not 0.02%
0.01%
0.005%
0%
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
Non Institution
54.88%
Shareholding Snapshot : Jun 21
Majority shareholders : Non Institution
FIIs
0.05%
Pledged Promoter Holdings : None
Mutual Fu…
0.02% Mutual Funds : Held in 2.00 Schemes (0.02%)
Other DIIs
0.01% FIIs : Held by 3 FIIs (0.05%)
Promoters Promoter with highest holding : The Andhra Sugars Ltd (33.054%)
45.04%
Highest Public shareholder : Lakshminarayanan T (4.898%)
Individual Investors Holdings : 42.53%
FII
0.06%
0.05%
MOJO PROFESSIONAL 13
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RESULT
ANALYSIS
MOJO PROFESSIONAL 14
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QUARTERLY VARIANCE
Margins
Jun'21 Mar'21 Dec'20 Sep'20 Jun'20 Avg. (4 Comments
Qtrs)
OPM 41.0% 35.4% 27.2% 11.5% 3.9% 19.5% Higher than average (4 Qtrs) – Promising
GPM 41.0% 34.8% 26.5% 10.6% 1.1% 18.2% Higher than average (4 Qtrs) – Promising
NPM 25.7% 21.5% 15.7% 5.2% -3.3% 9.8% Higher than average (4 Qtrs) – Promising
MOJO PROFESSIONAL 15
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ANNUAL RESULT
Net Sales-YoY Growth in year ended Mar 2021 is 24.16% vs - Standaloned Net Profit-YoY Growth in year ended Mar 2021
31.53% in Mar 2020 is 462.69% vs -80.54% in Mar 2020
1000 100 76.47
69.83
665.86 46.50
532.75 566.07 50
455.93 13.59
500 370.43
0
-7.36
0 -50
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Operating Profit (PBDIT) excl Other Income-YoY Growth in Operating Profit Margin (Excl OI)-YoY Growth in year ended
year ended Mar 2021 is 328.58% vs -70.54% in Mar 2020 Mar 2021 has improved from Mar 2020
200 40
137.23
24.24
108.68
100 20 16.32
66.19 12.42
32.02 7.02
12.80 3.46
0 0
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Figures in Rs Crore
MOJO PROFESSIONAL 16
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-94.67% Borrowings
Mar'20
0.63
Mar'19
11.81
Change%
-94.67%
Increase
Other Long Term Liabilities 71.16 0.05 1,42,220.00%
Fixed Assets 165.76 172.46 -3.88%
Investments 3.09 4.46 -30.72%
in Borrowings in quarter Current Assets 81.81 79.31 3.15%
ended Mar 2020 vs in
Figures in Rs Cr
Mar 2019
Other Long Term Liabilities: YoY Growth in year ended Mar 2020 is 1,42,220.00% vs 0.00% in Mar 2019
Fixed Assets: YoY Growth in year ended Mar 2020 is -3.88% vs -5.26% in Mar 2019
Investments: YoY Growth in year ended Mar 2020 is -30.72% vs -16.95% in Mar 2019
Current Assets: YoY Growth in year ended Mar 2020 is 3.15% vs 43.70% in Mar 2019
100
78.72
60.40
50 40.73
-17.34 -14.25
-50
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
MOJO PROFESSIONAL 17
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PEER COMPARISION
PEER COMPARISON
Andhra Manali T N Petro Prod. Agarwal Indl. Vikas Lifecare
Petrochem Petrochem
Size
Market Cap (Cr.) 1,273 1,558 1,048 371 341
Annual Sales (TTM) (Cr.) 752 1,261 1,387 1,164 95
Annual Net Profit (TTM) (Cr.) 141 297 151 52 9
Growth Factors (TTM)
Net Sales Growth 1 year 103.1% 84.2% 25.9% 73.2% -0.5%
Operating Profit Growth 1 year 7273.7% 75% 215.1% 112.1% 24%
Net Profit Growth 1 year 6545.2% 584.1% 165.7% 124.3% 352%
Net Sales Growth 5 year 19.4% 24.7% 2.8% 33.6% -41.1%
Operating Profit Growth 5 year 66.7% 118.3% 54.4% 46.2% 19.7%
Net Profit Growth 5 year 46.7% 120.6% 50.3% 73.3% 114.7%
Capital Structure Factors
EBIT to Interest 24.7 70.8 29.2 5.9 1.4
MOJO PROFESSIONAL 18
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COMPANY BACKGROUND
COMPANY BACKGROUND
Board of Directors
P Narendranath Managing Director
Chowdary
Director
M Thimmaraja
Director
Ravi Pendyala
Independent Director
D Manjulata
Nominee (IDBI)
Animesh Kumar Sinha
Company Coordinates
MOJO PROFESSIONAL 19
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