amit@unlistedkraft.com
+91-9599071664
+91-9599071664
Indian Potash
DRHP Status : Not Filed
3150
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 16304 | 18504 | 33323 | 20946 |
| Cost of Material Consumed | 13270 | 19037 | 27744 | 17810 |
| Gross Margins | 18.61 | -2.88 | 16.74 | 14.97 |
| Change in Inventory | -66 | -3418 | 2052 | 231 |
| Employee Benefit Expenses | 91 | 97 | 114 | 130 |
| Other Expenses | 2322 | 2010 | 2331 | 2374 |
| EBITDA | 687 | 778 | 1082 | 401 |
| OPM | 4.21 | 4.2 | 3.25 | 1.91 |
| Other Income | 622 | 1419 | 2369 | 2257 |
| Finance Cost | 151 | 118 | 696 | 384 |
| D&A | 51 | 46 | 48 | 61 |
| EBIT | 636 | 732 | 1034 | 340 |
| EBIT Margins | 3.9 | 3.96 | 3.1 | 1.62 |
| PBT | 1107 | 2033 | 2707 | 2213 |
| PBT Margins | 6.79 | 10.99 | 8.12 | 10.57 |
| Tax | 254 | 415 | 833 | 955 |
| PAT | 853 | 1618 | 1874 | 1258 |
| NPM | 5.23 | 8.74 | 5.62 | 6.01 |
| EPS | 298.36 | 565.93 | 655.47 | 439.86 |
Financial Ratios |
2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | 4.21 | 4.2 | 3.25 | 1.91 |
| Net Profit Margin | 5.23 | 8.74 | 5.62 | 6.01 |
| Earning Per Share (Diluted) | 298.36 | 565.93 | 655.47 | 439.86 |
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | 872 | 882 | 1221 | 1213 |
| CWIP | 93 | 157 | 24 | 217 |
| Investments | 1868 | 6185 | 4906 | 5784 |
| Trade Receivables | 3067 | 1900 | 5454 | 3670 |
| Inventory | 2632 | 6067 | 4013 | 3792 |
| Other Assets | 1854 | 6187 | 3447 | 2945 |
| Total Assets | 10386 | 21378 | 19065 | 17621 |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 28.59 | 28.59 | 28.59 | 28.6 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 4478 | 6098 | 8211 | 9488 |
| Borrowings | 2777 | 5544 | 3964 | 4575 |
| Trade Payables | 2420 | 8626 | 5364 | 2087 |
| Other Liabilities | 682.41 | 1081.41 | 1497.41 | 1442.4 |
| Total Liabilities | 10386 | 21378 | 19065 | 17621 |
| Name | Holding |
|---|---|
| Indian Farmers Fertilisers Cooperative Limited | 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 | 6.3% |
| Madras Fertilisers Limited | 5.54% |
| Other | 35.92% |
Indian Potash Limited (IPL) is a public limited company with its registered office in Chennai, India. It was founded and is domiciled in India. Its headquarters are in Chennai, India, and it was established on June 17th, 1955. It is a prominent importer of muriate of potash, di-ammonium phosphate, sulphate of potash, urea, rock phosphate, gypsum, etc. and operates as an entirely owned subsidiary of the Indian Farmers Fertilizer Cooperative. Indian Potash Supply Agency was the previous name of Indian Potash Limited, which it adopted in 1970. To address the needs of states in northern and southern India, the firm maintains two cattle feed plants, one in Sikandrabad and the other in Renigunta. The company manufactures fertilisers, milk and milk products, milk and fertiliser sulphitation, refined sugar, trading of gold and other precious metals, and imports, handles, markets, and promotes potash fertilisers in India.
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Strengths
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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.
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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
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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.
+91-9599071664
amit@unlistedkraft.com