Chemicals & Petrochemicals
Valuation | |
|---|---|
| Market Cap | 3.38 kCr |
| Price/Earnings (Trailing) | 16.63 |
| Price/Sales (Trailing) | 1.08 |
| EV/EBITDA | 10.3 |
| Price/Free Cashflow | 46.42 |
| MarketCap/EBT | 13.04 |
| Enterprise Value | 3.69 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | -3% |
| Price Change 1M | -7.4% |
| Price Change 6M | -33.9% |
| Price Change 1Y | -24% |
| 3Y Cumulative Return | 35.8% |
| 5Y Cumulative Return | 122.4% |
| 7Y Cumulative Return | 70.1% |
| 10Y Cumulative Return | 12.4% |
| Revenue (TTM) |
| 3.14 kCr |
| Rev. Growth (Yr) | 25.9% |
| Earnings (TTM) | 200.05 Cr |
| Earnings Growth (Yr) | -7.1% |
Profitability | |
|---|---|
| Operating Margin | 7% |
| EBT Margin | 8% |
| Return on Equity | 22.19% |
| Return on Assets | 15.23% |
| Free Cashflow Yield | 2.15% |
Cash Flow & Liquidity |
|---|
| Cash Flow from Investing (TTM) | -37.24 Cr |
| Cash Flow from Operations (TTM) | 146.64 Cr |
| Cash Flow from Financing (TTM) | -118.03 Cr |
| Cash & Equivalents | 16.98 Cr |
| Free Cash Flow (TTM) | 89.22 Cr |
| Free Cash Flow/Share (TTM) | 50.73 |
Balance Sheet | |
|---|---|
| Total Assets | 1.31 kCr |
| Total Liabilities | 1.05 kCr |
| Shareholder Equity | 901.61 Cr |
| Current Assets | 873.86 Cr |
| Current Liabilities | 531.73 Cr |
| Net PPE | 295.85 Cr |
| Inventory | 799.91 Cr |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.25 |
| Debt/Equity | 0.36 |
| Interest Coverage | 27.92 |
| Interest/Cashflow Ops | 20.53 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 62 |
| Dividend Yield | 3.23% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
Dividend: Dividend paying stock. Dividend yield of 3.23%.
Growth: Good revenue growth. With 31.1% growth over past three years, the company is going strong.
Past Returns: Outperforming stock! In past three years, the stock has provided 35.8% return compared to 12.8% by NIFTY 50.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Momentum: Stock is suffering a negative price momentum. Stock is down -7.4% in last 30 days.
Smart Money: Smart money is losing interest in the stock.
Insider Trading: Significant insider selling noticed recently.
Technicals: SharesGuru indicator is Bearish.
Dividend: Dividend paying stock. Dividend yield of 3.23%.
Growth: Good revenue growth. With 31.1% growth over past three years, the company is going strong.
Past Returns: Outperforming stock! In past three years, the stock has provided 35.8% return compared to 12.8% by NIFTY 50.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Momentum: Stock is suffering a negative price momentum. Stock is down -7.4% in last 30 days.
Smart Money: Smart money is losing interest in the stock.
Insider Trading: Significant insider selling noticed recently.
Technicals: SharesGuru indicator is Bearish.
Investor Care | |
|---|---|
| Dividend Yield | 3.23% |
| Dividend/Share (TTM) | 62 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 115.53 |
Financial Health | |
|---|---|
| Current Ratio | 1.64 |
| Debt/Equity | 0.36 |
Technical Indicators | |
|---|---|
| RSI (14d) | 52.08 |
| RSI (5d) | 56 |
| RSI (21d) | 43.83 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Summary of Styrenix Performance Materials's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management's outlook for Styrenix Performance Materials Limited indicates cautious optimism for the upcoming financial periods. They anticipate that the company's sales volume and revenue will improve in the second half of FY '26, building on a solid foundation of growth from ABS, despite some challenges in the polystyrene segment. The growth outlook suggests that Styrenix expects to achieve around 10% growth in overall volumes by the end of FY '26, supported by a recovering demand from sectors like automotive and household appliances.
Key forward-looking points provided by management include:
Sales Volume Trends: For the first half of FY '26, Styrenix achieved a sales volume of 97 KT, up 7.6% from the same period last year. They expect sales in the second half to capitalize on seasonal demand, especially in the automotive sector.
Revenue Projections: The company reported Q2 FY '26 revenue of INR 615 crores, a 14.7% decrease from Q1 FY '26 but reflecting a slight year-over-year decline from INR 653 crores in Q2 FY '25. Management remains confident about stabilizing revenue in the upcoming quarters.
Capex Plans: The company will invest INR 350 crores for Phase 1 of its ABS expansion, with completion anticipated in FY '27. This is aimed at strengthening its position in the growing ABS market.
Thailand Operations: Management remains cautious regarding sales from their Thailand operations, expecting this segment to achieve a higher capacity utilization over the medium to long term. They mentioned an estimated volume of 32 KT for the first half of FY '26, with expectations of incremental growth in the coming year as validations of new products progress.
Inventory Management: The management emphasized their ability to efficiently manage raw material inventory, asserting minimal inventory gains or losses impacting their margin profile amidst fluctuating raw material prices.
Overall, the management conveyed a commitment to maintaining operational efficiency and strategically leveraging their investments for sustainable growth while navigating market challenges.
Understand Styrenix Performance Materials ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Shiva Performance Materials Private Limited | 46.24% |
| Motilal Oswal Small Cap Fund | 3.37% |
| Ikigai Emerging Equity Fund | 2.48% |
| Enam Investment & Services Pvt Ltd | 1.14% |
| Vallabh Bhanshali | 1.13% |
Detailed comparison of Styrenix Performance Materials against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Styrenix Performance Materials Limited engages in the manufacture, trading, and sale of engineering thermoplastics in India. The company's products include Absolac, a plastic resin that is used for manufacturing of household appliances, automobile interiors and exteriors, consumer durables, and office equipment; and Absolan, which is primarily used in stationeries, cosmetic packing, industrial goods, electrical appliances, cosmetic jars, and household applications. It also offers general purpose poly styrene, a transparent polymer, which is used in TV light diffuser plate, XPS insulation boards, refrigerator drawers, medical labware, PSP and disposable packaging, CD jewel box, and clothes hanger; and high impact polystyrene resin that is used in electronic housing goods, refrigerator in-liner and door liner, injection mold, beverage cups, dairy products packaging, sheets, disposables, yogurt bottles, and toys; styroloy, a blended product which is used in automotive exterior, interior, household and electronics applications; Asalac, a polymer used for automotive exterior and interior applications. The company was formerly known as INEOS Styrolution India Limited and changed its name to Styrenix Performance Materials Limited in January 2023. Styrenix Performance Materials Limited was incorporated in 1973 and is based in Vadodara, India. Styrenix Performance Materials Limited operates as a subsidiary of Shiva Performance Materials Private Limited.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
Here are the major questions from the Q&A section of the earnings call transcript along with detailed answers provided in the first person:
Question: "Can you highlight what has been the reason we have been able to buck the trend regarding gross spreads, despite declining raw material prices?"
Answer: "Essentially, our product mix has seen a flattish polystyrene business, but ABS has shown some growth, resulting in a better overall spread. While raw materials like styrene and acrylonitrile have decreased, finished product prices have also followed suit, stabilizing our spreads. We manage inventories judiciously, keeping them low to avoid inventory-related losses."
Question: "What are we estimating for Thailand's volumes and EBITDA going forward?"
Answer: "We've done about 32 KT for the first half, with a 15 KT contribution in the second quarter. We see flattish growth for the year and apologize for not providing concrete EBITDA projections due to uncertainties. However, we expect a positive medium-to-long-term contribution as we stabilize operations there."
Question: "Is our capex plan still on track and has there been any upward revision?"
Answer: "Our capex for Phase 1 of ABS is progressing as planned, slated for completion by mid-next financial year. We believe we are on track, although it's tough to commit to specific dates."
Question: "With the competition ramping up ABS capacity, do you see margin pressures?"
Answer: "While there is competitive intensity from peers, we remain resilient, running relatively full on ABS. Margins haven't significantly changed yet, and we're confident in managing our capacity utilization before the new expansions come online."
Question: "What is the purpose of the Dubai subsidiary?"
Answer: "The Dubai entity serves both as a strategic base for long-term operations and a sales office targeting the Middle East and Europe for polystyrene and ABS. This structure is crucial for optimizing logistics and tax efficiencies long-term."
Question: "How do you see the working capital cycle settling by FY '26 end?"
Answer: "We built up some inventories during recent operations, which increased working capital needs. As we optimize our inventory management and align our sales with operational capacity, we expect the working capital cycle to stabilize."
Question: "What has been the feedback from customers post-acquisition in Thailand?"
Answer: "We have maintained strong relation with our customers, having retained around 90% of the business. Feedback indicates confidence due to the consistency in product quality, and we believe we will increase our market share over time."
Question: "When do we expect to see volumes from Dubai start contributing to our sales?"
Answer: "While we have begun initial marketing efforts, significant contributions will likely be seen when local demand in India fluctuates, potentially next year, allowing us to utilize excess capacity through our Dubai operations."
These answers summarize the management's responses while preserving key details and forward guidance discussed in the earnings call.
Distribution across major stakeholders
Distribution across major institutional holders
| -5.10% |
| 29.54 |
| 2.82 |
| - |
| - |
| VINATIORGA | Vinati Organics | 15.51 kCr | 2.31 kCr | -6.60% | -10.60% | 35.02 | 6.72 | - | - |
| AARTIIND | Aarti Industries | 13.52 kCr | 7.57 kCr | -1.10% | -16.10% | 69.46 | 1.79 | - | - |
| GALAXYSURF | Galaxy Surfactants | 6.4 kCr | 4.82 kCr | -12.00% | -24.40% | 22.35 | 1.33 | - | - |
| -84.8% |
| 9.5 |
| 57 |
| 71 |
| 63 |
| 64 |
| 94 |
| Exceptional items before tax | - | -3.1 | 0 | 0 | 0 | 0 | 0 |
| Total profit before tax | -90.4% | 6.4 | 57 | 71 | 63 | 64 | 94 |
| Current tax | -85.5% | 3.17 | 16 | 19 | 20 | 17 | 25 |
| Deferred tax | -188% | -13.11 | -3.9 | -0.52 | -13.43 | -0.2 | -0.32 |
| Total tax | -199.5% | -9.94 | 12 | 19 | 6.69 | 17 | 24 |
| Total profit (loss) for period | -65.9% | 16 | 45 | 52 | 56 | 48 | 70 |
| Other comp. income net of taxes | -52% | 8.68 | 17 | 1.48 | -1.41 | -0.07 | -0.17 |
| Total Comprehensive Income | -60.7% | 25 | 62 | 53 | 55 | 48 | 70 |
| Earnings Per Share, Basic | -66.1% | 9.29 | 25.43 | 29.52 | 31.94 | 27.12 | 39.86 |
| Earnings Per Share, Diluted | -66.1% | 9.29 | 25.43 | 29.52 | 31.94 | 27.12 | 39.86 |
| 43.8% |
| 3.53 |
| 2.76 |
| 5.33 |
| 8.23 |
| 15 |
| 16 |
| Depreciation and Amortization | 5.6% | 39 | 37 | 38 | 38 | 36 | 32 |
| Other expenses | 17.5% | 269 | 229 | 248 | 246 | 183 | 229 |
| Total Expenses | 22.2% | 2,442 | 1,998 | 2,140 | 1,750 | 1,268 | 1,561 |
| Profit Before exceptional items and Tax | 34.5% | 313 | 233 | 247 | 443 | 376 | 24 |
| Exceptional items before tax | - | 0 | 0 | 0 | 0 | 0 | -37.95 |
| Total profit before tax | 34.5% | 313 | 233 | 247 | 443 | 376 | -13.5 |
| Current tax | 37.7% | 85 | 62 | 65 | 116 | 94 | 1.39 |
| Deferred tax | -96% | -3.92 | -1.51 | -1.32 | 3.57 | 2.18 | -5.37 |
| Total tax | 35.6% | 81 | 60 | 64 | 120 | 96 | -3.98 |
| Total profit (loss) for period | 34.3% | 232 | 173 | 183 | 323 | 280 | -9.52 |
| Other comp. income net of taxes | -65.9% | -0.46 | 0.12 | 0.64 | 0.34 | -0.72 | -0.21 |
| Total Comprehensive Income | 34.3% | 232 | 173 | 184 | 323 | 279 | -9.73 |
| Earnings Per Share, Basic | 34.4% | 132.02 | 98.475 | 104.07 | 183.31 | 159.34 | -5.41 |
| Earnings Per Share, Diluted | 34.4% | 132.02 | 98.475 | 104.07 | 183.31 | 159.34 | -5.41 |
| 296 |
| 306 |
| 298 |
| 282 |
| 285 |
| 290 |
| Capital work-in-progress | 100% | 57 | 29 | 29 | 28 | 13 | 12 |
| Non-current investments | 0% | 26 | 26 | 2.41 | 1.74 | 1.33 | 1.03 |
| Loans, non-current | -2.2% | 0.05 | 0.07 | 0.06 | 0.06 | 0.05 | 0.03 |
| Total non-current financial assets | 3.6% | 59 | 57 | 4.82 | 3.93 | 4.84 | 4.59 |
| Total non-current assets | 12.6% | 440 | 391 | 358 | 343 | 336 | 341 |
| Total assets | -5.4% | 1,314 | 1,389 | 1,192 | 1,038 | 1,088 | 1,263 |
| Borrowings, non-current | 0.6% | 9.88 | 9.83 | 9.77 | 9.72 | 9.66 | 9.62 |
| Total non-current financial liabilities | 0.6% | 9.88 | 9.83 | 13 | 18 | 23 | 27 |
| Provisions, non-current | 12.8% | 45 | 40 | 32 | 29 | 29 | 28 |
| Total non-current liabilities | 41.1% | 80 | 57 | 56 | 59 | 63 | 68 |
| Borrowings, current | 2445.7% | 20 | 0.19 | 0.2 | 0.19 | 0.2 | 0.19 |
| Total current financial liabilities | -32.4% | 314 | 464 | 313 | 247 | 242 | 466 |
| Provisions, current | -178.7% | 0 | 2.27 | 1.54 | 1.19 | 0.99 | 0.71 |
| Current tax liabilities | - | - | - | 10 | 0 | 2.27 | - |
| Total current liabilities | -31% | 332 | 481 | 332 | 257 | 263 | 480 |
| Total liabilities | -23.5% | 412 | 538 | 388 | 315 | 326 | 548 |
| Equity share capital | 0% | 18 | 18 | 18 | 18 | 18 | 18 |
| Total equity | 6% | 902 | 851 | 805 | 723 | 762 | 715 |
| Total equity and liabilities | -5.4% | 1,314 | 1,389 | 1,192 | 1,038 | 1,088 | 1,263 |
| Net Cashflows From Operating Activities |
| -32.1% |
| 147 |
| 216 |
| 270 |
| 356 |
| - |
| - |
| Cashflows used in obtaining control of subsidiaries | - | 16 | 0 | 0 | 0 | - | - |
| Proceeds from sales of PPE | -14.5% | 0.13 | 0.24 | 5.75 | 0.58 | - | - |
| Purchase of property, plant and equipment | 47.4% | 57 | 39 | 18 | 15 | - | - |
| Interest received | -103.1% | 0.87 | 5.16 | 5.59 | 7.63 | - | - |
| Other inflows (outflows) of cash | 162.8% | 36 | -54.72 | -129.32 | 89 | - | - |
| Net Cashflows From Investing Activities | 57% | -37.24 | -87.95 | -135.58 | 83 | - | - |
| Repayments of borrowings | - | 0 | 0 | 0 | 44 | - | - |
| Payments of lease liabilities | 23.9% | 11 | 9.07 | 7.83 | 6.66 | - | - |
| Dividends paid | -37.8% | 103 | 165 | 185 | 354 | - | - |
| Interest paid | 46.7% | 3.42 | 2.65 | 5.11 | 7.23 | - | - |
| Net Cashflows from Financing Activities | 33% | -118.03 | -176.62 | -197.81 | -412.15 | - | - |
| Net change in cash and cash eq. | 80.5% | -8.63 | -48.3 | -63.31 | 27 | - | - |