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    PCBL Valuation

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    Sagar Saha
    Phillips Carbon Black Ltd. saw fluctuating financial performance over several years according to the data presented. Revenue grew by 40.9% in 2018 but then declined by 9.4% in 2020 and 18.8% in 2021. Expenses averaged 83% of revenue, with interest rates averaging around 6% and tax rates averaging 22%. The company's gross block or fixed assets grew on average 11.2% per year, while debt levels fluctuated with average growth of 1.4%. Dividend payouts also fluctuated, averaging 37% of net profit.

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    PCBL Valuation

    Uploaded by

    Sagar Saha
    25 views6 pages
    Phillips Carbon Black Ltd. saw fluctuating financial performance over several years according to the data presented. Revenue grew by 40.9% in 2018 but then declined by 9.4% in 2020 and 18.8% in 2021. Expenses averaged 83% of revenue, with interest rates averaging around 6% and tax rates averaging 22%. The company's gross block or fixed assets grew on average 11.2% per year, while debt levels fluctuated with average growth of 1.4%. Dividend payouts also fluctuated, averaging 37% of net profit.

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    PCBL_Valuation.xlsx

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    Phillips Carbon Black Ltd. saw fluctuating financial performance over several years according to the data presented. Revenue grew by 40.9% in 2018 but then declined by 9.4% in 2020 and 18.8% in 2021. Expenses averaged 83% of revenue, with interest rates averaging around 6% and tax rates averaging 22%. The company's gross block or fixed assets grew on average 11.2% per year, while debt levels fluctuated with average growth of 1.4%. Dividend payouts also fluctuated, averaging 37% of net profit.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    25 views6 pages

    PCBL Valuation

    Uploaded by

    Sagar Saha
    Phillips Carbon Black Ltd. saw fluctuating financial performance over several years according to the data presented. Revenue grew by 40.9% in 2018 but then declined by 9.4% in 2020 and 18.8% in 2021. Expenses averaged 83% of revenue, with interest rates averaging around 6% and tax rates averaging 22%. The company's gross block or fixed assets grew on average 11.2% per year, while debt levels fluctuated with average growth of 1.4%. Dividend payouts also fluctuated, averaging 37% of net profit.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 6

    Phillips Carbon Black Ltd. ------------------- in Rs. Cr.

    -------------------
    Historical Figures
    Mar '18 Mar '19 Mar '20 Mar '21
    Standalone Profit & Loss account
    Income
    Sales Turnover 2,600.31 3,528.56 3,243.54 2,659.52
    Excise Duty 53.33 0 0 0
    Net Sales 2,546.98 3,528.56 3,243.54 2,659.52
    Other Income 17.79 18.21 22.35 15.55
    Stock Adjustments -8.42 55.4 -3.79 -26.19
    Total Income (Revenue) 2,556.35 3,602.17 3,262.10 2,648.88
    Expenditure
    Raw Materials 1,744.33 2,463.82 2,284.28 1,678.97
    Power & Fuel Cost 22.34 28.44 22.96 28.11
    Employee Cost 97.18 110.92 134.38 132.17
    Miscellaneous Expenses 288.66 358.22 333.17 275.51
    Preoperative Exp Capitalised - - - -
    Total Expenses (COGS) 2,152.51 2,961.40 2,774.79 2,114.76
    Operating Profit 225.77 209.19 73.60 25.56
    PBDIT 403.84 640.77 487.31 534.12
    Interest 41.44 36.77 45.9 33.88
    PBDT 362.40 604.00 441.41 500.24
    Depreciation 60.52 66.38 92.36 110.12
    Profit Before Tax 301.88 537.62 349.05 390.12
    Tax 74.04 150.27 67.34 78.09
    Reported Net Profit (PAT) 227.84 387.35 281.71 312.03
    Total Value Addition 184.88 263.36 291.64 364.32
    Preference Dividend - - - -
    Equity Dividend 20.68 81 120.64 120.64
    Corporate Dividend Tax 4.21 16.65 24.8 0
    Per share data (annualised)
    Shares in issue (lakhs) 332.18 344.68 344.68 344.68
    Earning Per Share (Rs) 35.01 25.28 (5.99) (25.12)
    Equity Dividend (%) 50.00 40.00 5.00 -
    Book Value (Rs) 155.39 177.49 170.92 145.79
    Retained Earnings 202.95 289.70 136.27 191.39

    Standalone Balance Sheet


    Equity & LIABILITY
    Sources Of Funds
    Total Share Capital 34.47 34.47 34.47 34.47
    Equity Share Capital 34.47 34.47 34.47 34.47
    Share Application Money - - -
    Preference Share Capital - - - -
    Reserves 1,337.88 1,613.60 1,657.21 1,892.70
    Networth 1,372.35 1,648.07 1,691.68 1,927.17
    Secured Loans 686.89 725.65 544.68 561.66
    Total Debt 686.89 725.65 544.68 561.66
    Current Liabilities 722.91 916.39 969.93 1,136.00
    Provisions 77.2 84.52 85.9 85.25
    Total CL & Provisions 800.11 1,000.91 1,055.83 1,221.25
    Short term Debt
    Total Liabilities & Equity 2,859.35 3,374.63 3,292.19 3,710.08

    Application Of Funds (ASSETS)


    Gross Block 1,578.85 1,745.64 1,976.29 2,162.68
    Less: Accum. Depreciation 179.66 245.33 336.37 445.94
    Net Block 1,399.19 1,500.31 1,639.92 1,716.74
    Capital Work in Progress 66.84 175.04 305.58 266.76
    Investments 337.4 383.79 176.73 220.28
    Other Fixed Assets 404.24 558.83 482.31 487.04
    Total Fixed Assets 1,803.43 2,059.14 2,122.23 2,203.78
    Inventories 309.9 460.29 326.19 444.84
    Sundry Debtors 521.97 652.66 588.24 707.53
    Cash and Bank Balance 133.82 75.82 110.65 218.96
    Total Current Assets 965.69 1,188.77 1,025.08 1,371.33
    Loans and Advances 90.21 126.72 144.87 134.97
    Total CA, Loans & Advances 1,055.90 1,315.49 1,169.95 1,506.30
    Total Assets 2,859.33 3,374.63 3,292.18 3,710.08
    Contingent Liabilities 35.10 69.00 56.94 65.55
    Book Value (Rs) 155.39 177.49 170.92 145.79

    Check (ASSETS=LIABILITY) -0.02 0 -0.01 0


    -----------------
    s
    Mar '22 Mar '23 Mar '24 Mar '25 Mar '26 Mar '27

    4,446.42
    0
    4,446.42
    24.92
    35.32
    4,506.66 5,407.99 6,489.59 7,787.51 9,345.01 11,214.01

    3,297.41
    19.79
    158.72
    350.24
    -
    3,826.16 4,326.39 5,191.67 6,230.01 7,476.01 8,971.21
    152.24
    680.50 1,081.60 1,297.92 1,557.50 1,869.00 2,242.80
    29.09 45.14 49.66 54.62 60.09 66.09
    651.41 1,036.46 1,248.26 1,502.88 1,808.92 2,176.71
    120.88 132.7975 146.07725 160.68498 176.75347 194.42882
    530.53 903.66 1,102.18 1,342.19 1,632.16 1,982.28
    105.2 271.10 330.65 402.66 489.65 594.68
    425.33 632.56 771.53 939.54 1,142.51 1,387.60
    313.11
    -
    188.73 189.77 231.46 281.86 342.75 416.28
    0 -

    344.68
    3.67
    10.00
    148.05
    236.60

    37.75
    37.75
    -
    -
    2,567.16
    2,604.91
    683.99
    683.99 752.39 827.63 910.39 1,001.43 1,101.57
    1,386.66
    79.79
    1,466.45

    4,755.35

    2,414.50 2655.95 2921.545 3213.6995 3535.0695 3888.5764


    506.63
    1,907.87
    129.4
    783.04
    912.44
    2,820.31
    603.91
    1,105.10
    108.69
    1,817.70
    117.34
    1,935.04
    4,755.35
    40.33
    148.05

    0
    Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Average
    Growth in revenue 0.4091067 -0.094407 -0.187983 0.7013455 0.2070155

    Ratio of COGS and Revenue 0.8420248 0.8221156 0.8506146 0.7983601 0.8490013 0.8300229

    Interest Rate 0.0603299 0.0506718 0.0842697 0.0603212 0.0425299 0.0594481

    Growth in Debt 0.0564282 -0.24939 0.0311743 0.2178008 0.0140033

    Growth in Gross Block 0.1056402 0.1321292 0.0943131 0.1164389 0.1121303

    Depreciation rate 0.0383317 0.0380262 0.046734 0.0509183 0.0500642 0.0464357

    Tax rate 0.245263 0.2795097 0.1929236 0.2001692 0.1982923 0.2177237

    Dividend Pay out 0.0907654 0.2091132 0.4282418 0.3866295 0.443726 0.3669276

    CDT #DIV/0!
    Assumptions
    0.2

    0.8

    0.06

    0.1

    0.1

    0.05

    0.3

    0.3

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