Micro Chemicals

Nikhil Adhesives Ltd.

NIKHILAD

₹95.5

1.36% (1.28)

Market Cap

₹433 Cr.

P/E

25.67

Nikhil Adhesives Ltd.
Overview
Financials
Benchmarking
Shareholding

Nikhil Adhesives Ltd.

Nikhil Adhesives Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Nikhil Adhesives Ltd. Shareprice

Has the share price of Nikhil Adhesives grown faster than its competition?

Nikhil Adhesives has given better returns compared to its competitors.
Nikhil Adhesives has grown at ~11.88% over the last 3yrs while peers have grown at a median rate of 3.58%

Is Nikhil Adhesives stock expensive?

Nikhil Adhesives is not expensive.
Latest PE of Nikhil Adhesives is 25.67, while 3 year average PE is 27.96.
Also latest EV/EBITDA of Nikhil Adhesives is 13.06 while 3yr average is 14.25.

View FAQ's On Business

Growth Table

Nikhil Adhesives Ltd.
HP Adhesives
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Jyoti Resins&Adhesiv
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	-19.60	-12.04	10.91	9.59	54.73	33.93	30.08	27.03	38.03	39.19
TTM EPS CAGR	23.73	-0.92	-12.08	17.45	19.60	23.39	9.24	28.03	37.32	30.16
Sales CAGR	3.61	-11.33	-10.44	4.37	6.75	4.60	8.06	9.19	8.95	8.68
PAT Margin (Abs Growth)	0.06	-0.76	-0.84	0.68	1.18	1.51	1.64	1.81	2.21	2.25
PE CAGR	-34.09	-10.76	27.25	-6.64	29.50	8.62	18.61	-0.31	0.57	6.98
CFO CAGR	-30.82	-24.09	-14.69	-9.18	-2.78	4.22	—	1.38	-1.07	—

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Nikhil Adhesives Ltd.
HP Adhesives
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Jyoti Resins&Adhesiv
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In Rs. Cr.	Mar'10	Mar'11	Mar'12	Mar'13	Mar'14
Assets	52.81	60.60	80.51	90.40	116
Non Current Assets	7.84	9.91	21.81	24.33	26.67
Net Block	8.93	9.61	8.63	22.26	25.16
Capital Work in Progress	—	0.15	11.01	2.68	0.69
Intangible Assets Under Development	—	—	—	—	—
Long Term Investments	0.00	0.00	0.00	0.00	0.00
Current Assets	43.87	49.69	57.83	64.29	87.83
Inventory	10.81	19.14	15.13	18.35	25.05
Accounts Receivable	27.14	23.74	34.40	31.77	48.03
Short Term Investments	0.00	0.00	—	—	—
Cash & Bank Balances	2.42	2.63	1.81	5.79	3.79
Liabilities	52.81	60.60	80.51	90.40	116
Shareholders Funds	11.15	13.07	13.48	13.68	13.95
Share Capital	3.90	3.90	3.90	3.90	3.90
Reserves	7.24	9.17	9.58	9.78	10.04
Non Current Liabilities	21.20	3.11	11.92	11.09	18.70
Secured Loans	15.13	0.86	9.45	7.64	5.54
Unsecured Loans	4.97	1.10	1.39	1.44	11.10
Current Liabilities	20.46	44.42	55.10	65.62	83.73
Accounts Payable	17.73	25.85	33.81	38.56	52.73
Short Term Loans	—	12.89	14.61	19.89	22.77

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Nikhil Adhesives Ltd.
HP Adhesives
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Jyoti Resins&Adhesiv
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In Rs. Cr.	Mar'10	Mar'11	Mar'12	Mar'13	Mar'14
Sales	122	130	166	183	234
Operating Expenses	115	124	158	174	222
Raw Material	95.35	111	137	155	192
Material Cost (%)	81.33	81.96	83.97	83.53	82.58
Employee Cost	2.55	3.18	3.83	4.37	4.85
Power & Fuel Cost	1.00	1.38	1.56	1.88	2.54
Operating Profit	6.79	6.52	8.20	8.70	12.67
Other Income	0.78	0.53	0.32	0.39	0.66
OPM (%)	5.58	5.00	4.93	4.76	5.41
Depreciation and Amortisation	0.96	1.12	1.16	1.75	2.42
Interest	2.87	2.74	2.46	4.16	5.94
Profit Before Tax	3.73	3.76	1.15	1.48	0.37
Tax	1.46	1.29	0.38	0.91	0.11
Net Profit	2.27	2.47	0.77	0.57	0.26
Number of shares(Crs)	0.39	0.39	0.39	0.39	0.39
Dividend Payout Ratio(%)	20.59	18.94	40.23	55.08	0.00

Cash Flow

Nikhil Adhesives Ltd.
HP Adhesives
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Jyoti Resins&Adhesiv
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In Rs. Cr.	Mar'10	Mar'11	Mar'12	Mar'13	Mar'14
Cash from Operating Activity	3.91	9.98	2.02	8.05	-2.05
Profit Before Tax	3.73	3.76	1.15	1.48	0.37
Adjustments	3.61	3.36	3.47	5.67	6.89
OCF Before Working Capital	7.34	7.12	4.62	7.15	7.26
Working Capital Changes	-2.65	4.46	-1.82	1.35	-8.97
Taxes Paid	-0.78	-1.59	-0.78	-0.44	-0.34
Cash from Investing Activity	-1.54	-2.05	-10.08	-9.05	-3.41
Net Fixed Assets Purchased	0.00	-2.50	-8.78	-6.94	-3.41
Fixed Assets Purchased	—	-2.50	-8.78	-6.94	-3.41
Fixed Assets Sold	—	—	—	—	—
Investment Purchased	—	—	—	—	—
Investment Sold	—	—	—	—	—
Interest Recieved	—	0.00	0.01	—	—
Dividends Recieved	—	0.00	0.00	0.00	0.00
Subsidiary Investments	—	—	—	—	—
Cash from Financing Activity	-3.78	-7.24	7.67	0.86	5.08
Proceeds From Shares	—	—	—	—	—
Net Long Term Borrowings	0.00	0.58	8.76	-0.04	7.94
Proceeds From Borrowings	—	0.58	8.76	—	7.94
Repayment From Borrowings	—	—	—	-0.04	—
Interest Paid	—	-2.58	-2.25	-3.78	-5.39
Dividend Paid	—	-0.54	-0.55	-0.36	-0.36
Net Cash Flow	-1.42	0.69	-0.39	-0.14	-0.38
Opening Cash & Cash Equivalents	3.83	0.55	1.18	0.79	0.65
Effect of FX	—	—	—	—	—
Closing Cash & Cash Equivalents	2.42	1.23	0.79	0.65	0.27
Net Capex (est)	0.00	2.50	8.78	6.94	3.41
Free Cash Flow (est)	3.91	7.48	-6.77	1.11	-5.46

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Nikhil Adhesives Ltd.
HP Adhesives
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Jyoti Resins&Adhesiv
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	Mar'10	Mar'11	Mar'12	Mar'13	Mar'14
Operational Ratios
Quick Ratio	1.62	0.69	0.77	0.70	0.75
Liquid Assets (Crs)	33.06	30.55	42.69	45.93	62.77
Current Liabilities (Crs)	20.46	44.42	55.10	65.62	83.73
Current Ratio	2.14	1.12	1.05	0.98	1.05
Current Assets (Crs)	43.87	49.69	57.83	64.29	87.83
Current Liabilities (Crs)	20.46	44.42	55.10	65.62	83.73
Interest Coverage Ratio	2.30	2.37	1.47	1.35	1.06
EBIT (Crs)	6.60	5.94	7.37	7.34	10.91
Interest Expenses (Crs)	2.87	2.74	2.46	4.16	5.94
Fixed Asset Turnover	8.15	7.79	9.84	5.66	6.23
Net Sales (Crs)	122	130	166	183	234
Fixed Assets (Crs)	14.95	16.74	16.92	32.30	37.62
Cash Conversion Cycle	40.72	28.34	14.99	3.82	0.49
Inventory Days	30.20	38.08	34.45	30.35	30.53
Days Receivable	75.85	64.70	58.45	59.98	56.12
Days Payable	65.33	74.44	77.91	86.51	86.15
Debt to Equity Ratio	1.80	1.22	1.97	2.37	3.18
Total Debt (Crs)	20.10	15.93	26.56	32.37	44.34
Shareholders Equity (Crs)	11.15	13.07	13.48	13.68	13.95
Free Cash Flow/Sales (%)	3.21	5.74	-4.07	0.61	-2.33
Free Cash Flow(est) (Crs)	3.91	7.48	-6.77	1.11	-5.46
Net Sales (Crs)	122	130	166	183	234
Profitability Ratios
Gross Margin (%)	18.67	18.04	16.03	16.47	17.42
Op Profit Margin (%)	5.58	5.00	4.93	4.76	5.41
Operating Profit (Crs)	7.57	7.06	8.53	9.09	13.32
Net Sales (Crs)	122	130	166	183	234
Net Profit Margin (%)	1.86	1.89	0.47	0.31	0.11
Net Profit (Crs)	2.27	2.47	0.77	0.57	0.26
Net Sales (Crs)	122	130	166	183	234
ROCE (%)	20.42	36.69	29.01	29.63	33.40
EBIT (Crs)	6.60	5.94	7.37	7.34	10.91
Capital Employed (Crs)	32.34	16.18	25.41	24.78	32.65
Return on Assets (%)	4.30	4.07	0.96	0.63	0.23
Net Profit (Crs)	2.27	2.47	0.77	0.57	0.26
Total Assets (Crs)	52.81	60.60	80.51	90.40	116
ROIC (%)	11.84	28.55	21.24	14.94	26.54
Op Profit after Taxes (Crs)	3.54	3.55	4.74	2.66	7.32
Invested Capital (Crs)	29.93	12.42	22.34	17.81	27.57
ROE (%)	20.36	18.87	5.74	4.13	1.89
Net Profit Margin (%)	1.86	1.89	0.47	0.31	0.11
Asset Turnover ratio	2.31	2.15	2.07	2.02	2.01
Equity Multiplier	4.74	4.64	5.97	6.61	8.34
Adjusted EPS	0.58	0.63	0.20	0.15	0.07
Valuation Ratios
P/E	5.96	5.60	16.90	19.35	31.90
Price to Book	1.22	1.06	0.97	0.80	0.60
EV/EBITDA	4.13	3.84	4.44	4.13	3.68
Dividend Yield (%)	3.45	3.38	2.38	2.85	0.00

Quarterly Results

Nikhil Adhesives Ltd.
HP Adhesives
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Jyoti Resins&Adhesiv
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In Rs. Cr.	Jun'10	Sep'10	Dec'10	Mar'11	Jun'11	Sep'11	Dec'11	Mar'12
Net Sales	28.84	31.73	34.09	35.70	40.70	42.28	36.74	46.70
Operating Expenses	26.70	29.92	32.06	35.20	38.27	40.54	36.96	44.31
Increase/Decrease in Stock	-2.11	0.59	-1.19	0.09	3.44	-0.74	0.26	-1.19
Raw Material	21.83	22.22	22.88	24.81	28.68	29.93	29.35	27.71
Employee Cost	0.78	0.74	0.90	0.76	0.93	1.01	0.91	0.98
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	2.15	1.81	2.02	0.50	2.44	1.75	-0.22	2.40
Other Income	0.05	0.30	0.03	0.39	0.01	0.01	0.00	0.08
Interest	0.62	0.63	0.76	0.61	0.66	0.65	0.41	0.51
PBDT	1.57	1.48	1.29	0.54	1.79	1.11	-0.63	0.04
Depreciation and Amortization	0.27	0.28	0.28	0.29	0.29	0.29	0.29	0.29
Profit Before Tax	1.30	1.20	1.01	0.24	1.50	0.82	-0.92	-0.26
Tax	0.40	0.35	0.25	0.29	0.45	0.35	-0.34	0.05
Profit After Tax	0.90	0.85	0.76	-0.04	1.05	0.47	-0.58	-0.30
Exceptional Items	0.00	0.00	0.00	0.27	0.00	0.00	0.00	-1.93
Net Profit	0.90	0.85	0.76	-0.04	1.05	0.47	-0.58	-0.30
Quarterly Ratios
EPS	0.23	0.22	0.19	-0.01	0.27	0.12	-0.15	-0.08
Operating Profit Margin	7.44	5.70	5.94	1.40	5.98	4.13	-0.59	5.13
Net Profit Margin	3.13	2.68	2.23	-0.13	2.58	1.12	-1.57	-0.65

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

35.00%

Implied Growth Rate over a 5 year period*

11.50%

Implied Growth Rate over a 10 year period*

4.90%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on Nikhil Adhesives Ltd. Financials

How strong is Nikhil Adhesives balance sheet?

Balance sheet of Nikhil Adhesives is strong.
But short term working capital might become an issue for this company.

Is the debt of Nikhil Adhesives increasing or decreasing?

Yes, The net debt of Nikhil Adhesives is increasing.
Latest net debt of Nikhil Adhesives is ₹50.69 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹26.51 Crs.

Is the profitablity of Nikhil Adhesives improving?

The profit is oscillating.
The profit of Nikhil Adhesives is ₹16.86 Crs for TTM, ₹13.25 Crs for Mar 2024 and ₹17.04 Crs for Mar 2023.

Does Nikhil Adhesives pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Nikhil Adhesives latest dividend payout ratio is 6.93% and 3yr average dividend payout ratio is 5.32%

How has Nikhil Adhesives allocated its funds?

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments

View FAQ's On Shareholding

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Nikhil Adhesives Ltd.

Nikhil Adhesives Ltd.

Has the share price of Nikhil Adhesives grown faster than its competition?

Is Nikhil Adhesives stock expensive?

How strong is Nikhil Adhesives balance sheet?

Is the debt of Nikhil Adhesives increasing or decreasing?

Is the profitablity of Nikhil Adhesives improving?

Does Nikhil Adhesives pay decent dividends?

How has Nikhil Adhesives allocated its funds?

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