Bhansali Engineering Polymers Ltd.

Bhansali Engineering Polymers Ltd.

Bhansali Engineering Polymers Limited (BEPL) was incorporated in the year 1986. BEPL was the first company in India to start manufacturing Quality ABS resins using foreign technology. BEPL enhanced capacity from 7500 TPA in 1990 to 15000 in the year 1996.

The company made General ABS, Super Heat Resistance, Flame Retardant ABS, PC/ABS Alloys, ABS-GF/SAN-GF, PMMA-ABS, Transparent ABS, Extrusion ABS, SAN Resin. 

Company has joint venture with Nippon A&L, Inc. Japan a Sumitomo Group Company. 

The first phase of expansion has been completed in the month of Mar-16 augmenting the installed capacity of company from 51KTPA to 80 KTPA. The demand of ABS in India is growing at CAGR 10%.

Balance Sheets Analysis

Mar-05	Mar-13	Mar-14	Mar-15	Mar-16	TTM
Share Capital	16.59	16.59	16.59	16.59	16.59
Reserves	94.15	93.4	92.94	96.35	111.05
Borrowings	56	30.14	58.58	41.57	31.82
Other Liabilities	225.43	237.21	210.94	242.45	192.48
Total Liabilities	392.17	377.34	379.05	396.96	351.94
Fixed Assets	155.56	142.68	132.78	122.17	81.85
CWIP	0	0	0	0	0
Investments	0	0	0	1	1.5
Other Assets	236.61	234.66	246.27	273.79	268.59
Total Assets	392.17	377.34	379.05	396.96	351.94

1. Company Share Capital is stable and reserve is growing.

Standalone Result Analysis

Mar-05	Mar-13	Mar-14	Mar-15	Mar-16	TTM
Sales	418.92	506.92	601.06	530.86	626.16
Expenses	404	491.13	575.68	493.4	563.44
Operating Profit	14.92	15.79	25.38	37.46	62.72
OPM	3.56%	3.11%	4.22%	7.06%	9.82%
Other Income	0.92	1.18	1.88	2.54	8.44
Interest	11.26	9.82	13.58	11.08	9.79
Depreciation	4.36	4.39	5.01	5.54	5.47
Profit before tax	0.22	2.79	8.68	23.39	55.88
Tax	-0.97	1.3	3.28	6.7	21.11
Net Profit	1.19	1.48	5.4	16.69	34.77
EPS (unadj)	0.06	0.07	0.31	0.99
Dividend Payout	139.50%	112.16%	30.74%	9.95%	%

1. Company Operating Profits grow from 14.92 crore in 2013 to 62.72 crore current.
2. Profit before text grow from 0.22 crore in 2013 to 55.88 crore current.
3. Growing operating profits means company convert more sales to cash.

Quarterly Number Analysis

Column1	Jun-14	Mar-16	Jun-16	Sep-16	Dec-16	Mar-17
Sales	115.93	155.98	147.05	163.31	122.95	192.85
Expenses	110.48	144.42	130.88	147.8	113.84	170.92
Operating Profit	5.45	11.56	16.17	15.51	9.11	21.93
OPM	4.70%	7.41%	11%	9.50%	7.41%	11.37%
Other Income	0.58	0.44	0.28	1.33	0.44	6.39
Depreciation	1.13	2.2	1.38	1.35	1.37	1.37
Interest	2.66	2.7	2.28	2.61	2.29	2.61
Profit before tax	2.24	7.09	12.77	12.88	5.9	24.33
Tax	0.01	6.34	4.77	4.24	2.84	9.26
Net Profit	2.23	0.75	8.01	8.64	3.06	15.06

1. Quarterly Sales grow from 122.95 crore  in Dec-16 to 192.85 in Mar-17 rose 23.56%.
2. Net profits grow 1908% during this period.

Return on Equity

Return on Equity
10 Years:	5.19%
5 Years:	4.73%
3 Years:	7.05%
TTM	13.87%

1. Company Return on Equity is consistent growing.

Cashflow Analysis

Column1	Mar-13	Mar-14	Mar-15	Mar-16
Cash from Operating Activity	42.43	-10.81	35.65	56.49

1. Company Cashflow is constent grow.

The next phase of expansion, has been planned by company at port based location and is
proposed to be completed by the end of March, 2019.

DISCLAIMER

ALL INFORMATION GIVEN HERE IS BASED ON TECHNICAL ANALYSIS WHICH IS DYNAMIC IN NATURE AND RELEVANT ONLY AT A PARTICULAR POINT OF TIME. USERS ARE ADVISED TO PURSUE THESE RECOMMENDATIONS ONLY AT THEIR OWN RISK AND FIRST CONSULT THEIR PERSONAL INVESTMENT ADVISOR WHEN MAKING INVESTMENT DECISIONS. WE ARE NOT LIABLE AND WE TAKE NO RESPONSIBILITY FOR ANY LOSS THAT YOU INCURE BY TRADING/INVESTING ON OUR RECOMMENDATIONS. THESE CHARTS ARE POSTED FOR EDUCATIONAL PURPOSE ONLY.