Indian Potash Ltd - Unlisted Shares
Fundamentals
- Current Price
- ₹3,165
- Market Cap
- ₹9,051.01 Cr
- ISIN
- INE863S01020
- Face Value
- ₹10
- P/E Ratio
- 7.20
- EPS
- ₹439.84
- P/B Ratio
- 0
- Book Value
- 3,327.68
- Debt / Equity Ratio
- 0.48
Key Financials
Profit & Loss
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|
| Revenue from Operations | 20,946.4 | 33,323.0 | 18,503.5 | 16,303.9 | 14483.4 | 15430.1 |
| Growth % | -37% | 80% | 13% | 13% | -6% | 0 |
| Operating Expenses | 20,546.0 | 32,241.45 | 17,726.04 | 15,617.17 | 13,847.14 | 14,895.31 |
| Growth % | -36% | 82% | 14% | 13% | -7% | 0 |
| Operating Profit | 400.5 | 1,081.6 | 777.5 | 686.7 | 636.2 | 534.8 |
| Op. Profit Margin % | 1.9% | 3.2% | 4.2% | 4.2% | 4.4% | 3.5% |
| Other Income + share of net profits from investments | 2,257.2 | 2,369.6 | 1,419.2 | 621.8 | 231.8 | 436.8 |
| Finance Costs | 383.76 | 695.8 | 118.1 | 151.1 | 253.8 | 283.8 |
| Depreciation | 60.7 | 47.7 | 46.4 | 51.2 | 52.3 | 42.5 |
| Profit Before Tax | 2,213.2 | 2,707.7 | 2,032.1 | 1,106.2 | 561.84 | 645.3 |
| Tax | 955.3 | 833.3 | 414.5 | 253.6 | 184.8 | 191.0 |
| Tax % | 43% | 31% | 20% | 23% | 33% | 30% |
| Profit After Tax | 1,257.8 | 1,874.4 | 1,617.7 | 852.6 | 377.1 | 454.3 |
| Growth % | -32.9% | 15.9% | 89.7% | 126.1% | -17.0% | 0 |
| PAT % | 6% | 6% | 9% | 5% | 3% | 3% |
| Diluted EPS | 439.84 | 655.46 | 565.67 | 298.1 | 131.9 | 158.9 |
Company Financials
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|
| Equity Capital | 28.6 | 28.6 | 28.6 | 28.6 | 28.6 | 28.6 |
| Reserves | 9,487.6 | 8,211.2 | 6,097.7 | 4,478.2 | 3,631.8 | 3,217.5 |
| Total Equity | 9,516.2 | 8,239.8 | 6,126.3 | 4,506.8 | 3,660.4 | 3,246.1 |
| Borrowings | 124.9 | 124.6 | 47.8 | 69.1 | 97.5 | 292.5 |
| Other Non-Current Liabilities | 1,084.2 | 897.6 | 226.3 | 51.8 | 66.9 | 50.2 |
| Total NC Liabilities | 1209.1 | 1,022.2 | 274.1 | 120.9 | 164.4 | 342.7 |
| Borrowings | 4449.6 | 3,839.2 | 5,496.6 | 2,707.7 | 3,575.4 | 2,851.5 |
| Other Current Liabilities | 2,446.3 | 5,963.6 | 9,481.2 | 3,050.5 | 4,181.6 | 4,034.5 |
| Total Current Liabilities | 6896.0 | 9,802.8 | 14,977.9 | 5,758.3 | 7,757.0 | 6,886.0 |
| Equity + Liabilities | 17,621.4 | 19,064.8 | 21,378.2 | 10,385.9 | 11,581.8 | 10,474.8 |
| Fixed Assets (incl. WIP) | 1538.8 | 5,791.3 | 1,148.7 | 1,059.1 | 955.6 | 842.1 |
| Other Non Current Assets | 5838.4 | 488.4 | 3,037.8 | 1,933.1 | 1,470.6 | 1,492.1 |
| Total NC Assets | 7,377.2 | 6,279.7 | 4,186.5 | 2,992.1 | 2,426.2 | 2,334.2 |
| Trade Receivables | 3669.7 | 5,454.4 | 1,900.2 | 3,066.6 | 5,408.4 | 4,301.9 |
| Cash & Cash Equivalents | 613.6 | 1,400.7 | 5,110.2 | 1,224.9 | 542.4 | 753.5 |
| Other Current Assets | 5,960.8 | 5,930.0 | 10,181.4 | 3,102.3 | 3,204.8 | 3,085.1 |
| Total Current Assets | 10,244.1 | 12,785.1 | 17,191.7 | 7,393.8 | 9,155.6 | 8,140.5 |
| Total Assets | 17,621.4 | 19,064.8 | 21,378.2 | 10,385.9 | 11,581.8 | 10,474.8 |
Shareholding Pattern
- Indian Farmers Fertilisers Cooperative Ltd
- 33.99%
- Gujarat State Co-operative Marketing Federation Limited
- 10.45%
- Gujarat State Fertilisers and Chemicals Limited
- 7.87%
- Andhra Pradesh State Cooperative Marketing Federation Limited
- 6.23%
- Madras Fertilisers Limited
- 5.54%
- Others
- 35.92%
Strengths & Weaknesses
Strengths
- Dominance in Fertiliser Trading Market: India's Muriate of Potash (MOP) trade is dominated by the company, controlling a whopping 69% of all MOP imports in the FY22. Additionally, due to higher domestic demand for urea compared to its production, IPL acts as an import agent on behalf of the Ministry of Fertilizer.
- Increase in Revenue: The company’s revenue increased 80% from ₹18,503 Cr in FY22 to ₹33,323 Cr in FY23. The revenues increased due to an increase in commodity prices as well as increase in sales volume
- Future Business Diversification: The increase in operations has allowed IPL to branch out beyond its core business by venturing into sugar, cattle feed, and dairy products. In order to achieve this, they acquired a sugar and distillery plant in Odisha for ₹1,341 Cr
Weaknesses
- Price and Forex Risk: IPL has a significant amount of outstanding debts and letters of credit denominated in US dollars and euros. If the Indian rupee weakens considerably, this could lead to substantial losses due to forex conversion.
- Increase in Borrowings: The long-term borrowings have increased by over 160% from FY22 to FY23.
About Indian Potash Ltd
Incorporated in 1955 as the Indian Potash Supply Agency (IPSA) for importing and promoting potash fertilisers across India, the company was rebranded as IPL in 1971.
Board of Directors
- Shrimati Pankaj Kumar Bansal - Chairman
- Arvind Kumar Kadyan - Director
- Vandana Chanana - Director
- Dr. P. S. Gahlaut - Managing Director
Senior Management
- NA - NA
