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ECONOMY
INDUSTRY
COMPANY
CONTENTS
ECONOMY RELATED FACTORS Growth Rates Interest Rates Inflation BOP, Foreign Trade Exchange Rates Savings & Investments Demographic Data Monsoon INDUSTRY RELATED FACTORS PLC Demand & Supply Barriers to Entry Market for the Products Supply of inputs Government Attitude Other Details FIRM SPECIFIC ANALYSIS Company Details Technical and Fundamental Analysis Common Size Statements Ratio Analysis Trend Analysis
Growth RatesGDP
2006-07 2007-08 April-May 2008 rose by 5.0% April-May 2007 rose by 10.9%
INFLATION
AUGUST 2008 12.6% JULY 2008 11.89% MAR. 2008 7.75% MAR. 2007 4.76%
INTEREST RATES
Bank Rate- 6.00% Repo Rate 9.00% Reverse Repo 6.00% PLR : 12.75%-13.25% Savings Bank Rate : 3.5% Deposit Rate : 7.50%-9.60%
Exports 21.7 % against 24.2% (as a % of GDP) Imports 31.8% against 37.9%(as a % of GDP).
Exchange Rates
March 2008 INR 39.97 / USD July 8 INR 43.37 / USD July 25 - INR 42.23 / USD Rupee depreciated against upto July 2008 USD 5.4% EURO 5.0% POUND STERLING 5.2% JPY 1.3 %
MONSOON
Up to July 23, 2008 -cumulative rainfall 98% June-September forecasted to be 100 % by India Meteorological Department (IMD)
DEMOGRAPHICS
Population as on 1st Mar. 2001- 1,027,015,247 Male - 531,277,078 Female - 495,738,169 Most Populous State Uttar Pradesh Least Populous State Sikkim Highest Density Delhi with 9,294 persons / sq. km Lowest Density- Arunachal Pradesh 13 persons / sq. km Sex Ratio 933 females over 1000 males Literacy Rate 65%.
Chemical Industry
Includes manufacture and/or distribute chemicals including basic, intermediate and specialty chemicals, plastic resins and materials used in synthetic fibers, paints and coatings Currently producing 70000 products. Products Classification
Inorganic Organic (commodity) chemicals, Drugs and pharmaceuticals, Plastics and petrochemicals, Dyes and pigments, Fine and specialty chemicals, Pesticides and agrochemicals, and Fertilizers.
18%
25%
BASIC SPECIALTY KNOWLWDGE
25%
57%
Chemical Industry
Overview
Total Investment US$60 billion Contribution to GDP 3% Share in Exports 13-14% Imports 8 9% 12th largest in World (In terms of Volume) 3rd Largest in Asia Per capita consumption in India 1/10th of world average Global chemical Indus. US$ 1.7 trillion One of the fastest growing Industry in India Average growth rate 12.5%
Herfindahl Index 9 8 7 6 5 4 3 2 1 0
Xy M ac le ne hi ne T oo ls C e C au me nt st ic So da U re a
Key Features-
Industry
Te a St ee M l et ha n Be ol nz e So ne da As h Sc W oo oot er le s n Pa Fa ss br en ic s ge rC ar C s ig ar re Vi tt Ai sc r C es os oo e S le ta rs pl e Fi br e
Key Features
Chemicals sold directly to large customers and through distribution channels.
Annual Turnover Rs. 90,000 crore (approx.) 1/3rd contribution by 3 main sub-sectors basic chemicals, petrochemicals and pharmaceuticals.
Role of Government
INPUT COSTS REVOLUTIONIZING THE POWER SECTOR INFRASTRUCTURE IMPROVEMENT PCPIRs R&D FINANCIAL ASSISTANCE EXPORT PROMOTION ENVIRONMENT RELATED ISSUES AMENDMENT IN LABOR LAWS
Diversified Manufacturing Base Vibrant downstream industries in different segments Competitive core industries Capability to produce world-class end products
STRENGTHS
Strong presence in the export market in sub-segments Large domestic market Major raw material component sources within the country Good R&D base
WEAKNESSES
INFRASTUCTURE COST DISADVANTAGES
Cost Disadvantages - India vs. Other Developing Countries
4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 Power Interest Local Taxes Import Duties Name of the Country
WEAKNESSES
SCALE OF PRODUCTION TECHNOLOGY MULTIPLICITY OF TAXES LABOR LAWS
OPPORTUNITIES
Challenge to compete globally by concentrating on weaknesses Markets in the developed countries A large number of products going off patent. Advantages in certain categories can be used for boosting exports. Close to middle-east- cheaper and abundant source for petrochemicals feedstock.
OPPORTUNITIES
Stringent environmental laws in the western countries Climatic conditions in India Competencies to utilize renewable resources Competency to emerge as a global player in the area of Specialty chemicals.
THREATS
Imports of chemicals, intermediates and end products Tariff levels for chemicals Greater competition due to Chinese products Bilateral/multilateral trade agreements The labor laws, power supply and infrastructure facilities
Growth Imperatives
Imperatives Basic Aggressive growth strategies Stimulated demand Access to global markets Invest in new areas Consolidation Research & Development (R&D) Cost reduction Operational Financial Collaboration Clusters Co-opetition Institutional interaction High Medium Degree of relevance Specialty Medium Knowledge High
High Low
Low
High
Medium
Public limited listed company Subsidiary of BASF Aktiengesellschaft, Germany. Prasad Chandran- Chairman and Managing director
At present, represented
the by
BASF India Limited BASF Coatings Private Limited BASF Styrenics Private Limited BASF Polyurethanes India Limited BASF Construction Chemicals (India) Private Limited BASF Catalyst India Private Limited BASF Asia Pacific (India) Private Limited
Products
Plastics, automotive and coil coatings, catalysts, construction chemicals, polystyrene and polyurethane systems. Strong manufacturing and R&D base, >1300 employees multi-location production sites and an R&D centre, Global Technology Platform
BASF- FINANCIALS
NETWORTH Rs. 339.68 Cr. BOOKVALUE Rs. 120.50 Cr. P/E 9.47 TURNOVER Rs. 1031.86 Cr. PAT Rs. 59.37 Cr. Market Capitalization Rs. 720.82 Cr.
TECHNICAL ANALYSIS
BASF vs. Sensex as on 18th Sep., 2008
270 265 260 In d e x 255 250 245 240 1 2 3 4 5 6 7 8 9 10 11 12 Time BASF Sensex
350 300 250 In d e x 200 150 100 50 0 1 2 3 4 5 Date 6 7 8 9 BASF Sensex
BASF
BASF Nifty
RATIO ANALYSIS
ROE
Trend - ROE
0.18 0.16 0.14 0.12 0.1 ROE 0.08 0.06 0.04 0.02 0 1 2 3 Years 4 5
Series1
ROTA
Trend - ROTA (04-08)
0.18 0.16 0.14 0.12 0.1 ROTA 0.08 0.06 0.04 0.02 0 1 2 3 Years 4 5
0.3 0.25 0.2
Series1
SALES
TREND Analysis - Sales (04-08)
1200 1000 800 Sales 600 400 200 0 1 2 3 Years 4 5 Series1 120 100 80 EBIT 60 40 20 0 1 2 3
EBIT
TREND Analysis - EBIT (04-08)
Series1
Years
PAT
TREND Analysis - PAT (04-08)
60 50 40 PAT 30 20 10 0 1 2 3 Years 4 5 Series1
Current Assets
TREND Analysis - CA (04-08)
295 290 285 280 275 CA 270 265 260 255 250 245 1 2 3 Years 4 5
Series1
CURRENT LIABILITIES
TREND Analysis - CL (04-08)
160 140 120 100 CL 80 60 40 20 0 1 2 3 Years 4 5 Series1 TA 350 300 250 200 150 100 50 0 1
TOTAL ASSETS
TREND Analysis - TA (04-08)
Series1
3 Years
NETWORTH
TREND Analysis - NW (04-08)
350 300 250 NW 200 150 100 50 0 1 2 3 Years 4 5 Series1 20 19.5 19 18.5 18 Dividend 17.5 17 16.5 16 15.5 1 2
DIVIDEND
TREND Analysis - Dividend (04-08)
Series1
3 Years
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