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Sipchem falls to lowest level since July 2021
04/03/2024
Argaam Exclusive
AI Summary
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Shares of Sahara International Petrochemical Co. (Sipchem) fell today, March 4, to SAR 30.05, their lowest price since July 2021.
| Year High (SAR) | Year Low (SAR) |
| 40.90 | 30.05 |
| Highest Since Debut (SAR) | Lowest Since Debut (SAR) |
| 60.00 | 9.75 |
The stock remained unchanged at the close of today’s session at SAR 30.50 per share, with nearly 2.1 million shares traded.
Market Data :
| Open | 12.02 |
| Low | 11.85 |
| High | 12.08 |
| Previous Close | 12.02 |
| Change (3M) | (16.32 %) |
| Change (6M) | (28.31 %) |
| Market Value | 8,726.63 |
| Avg. Volume (3M) | 1,236,229.94 |
| Avg. Turnover (3M) | 16,098,110.40 |
| Avg. Transaction (3M) | 2,337.88 |
| Change(12M) | (40.29 %) |
| YTD | (20.67 %) |
The company adjusted its capital through acquisitions, bonus shares, and rights issues, as detailed below:
Adjustments to the capital (M Riyal) :
| Date | Type | Capital (M Riyal) | Change (%) |
| 2019 | Private Offering | 7,333.00 | 100.03% |
| 2011 | Bonus Shares | 3,666.70 | 10.00% |
| 2008 | Right Issue | 3,333.00 | 66.65% |
| 2007 | Bonus Shares | 2,000.00 | 33.33% |
| 2006 | IPO | 1,500.00 | 0.00% |
Sipchem’s profits dropped in 2023 to SAR 1.17 billion, from SAR 3.59 billion in 2022.
Financial Performance :
Overview :
The company was set up as a closed joint-stock company in 1999 with SAR 500 million in capital, before converting into a Saudi public joint-stock company in 2006. In 2019, it merged with Sahara Petrochemical Co.
Activities and Business Segment
The company and its subsidiaries manufacture and sell basic and intermediate chemicals, as well as polymers through its industrial complex in Jubail Industrial City. The firm operates through several segments, with the marketing segment being the lar...
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Financial Ratios :
| Financial Ratio | Current |
| Market Cap (M Riyal) | 8,726.64 |
| Shares Outstanding ((M)) | 733.33 |
| Recurring EPS ( Riyal) (TTM) | (1.59 ) |
| Book Value (BV) ( Riyal) (Latest announcement) | 17.48 |
| Recurring P/E (TTM) | Neg |
| Price/book | 0.68 |
| Dividend Yield (%) (Last Year) | 8.40 |
| Return on Average Assets (%) (TTM) | (8.06 ) |
| Return on Average Equity (%) (TTM) | (12.22 ) |
| Par Value ( Riyal) | 10.00 |
| Enterprise Value (EV) (M Riyal) | 11,019.13 |
| EV/adj EBITDA | 32.68 |
| EV/ EBITDA | - |
| EV/Revenues | 2.19 |
Calendar :
-
21 May
General Assembly
- -
27 June
Ex-dividend Date
- -
11 July
Cash Dividend Distribution
- -
02 December
Ex-dividend Date
- -
16 December
Cash Dividend Distribution
- -
21 May
General Assembly
-
Analyst Estimates :
36.3
Fair Average Price
2
Number of Recommendations
| Rating | Research firm | Current Price | Target Price | Change | |
| Aggregate | U-Capital | 30.50 | 40.60 | 33.11 % | |
| Neutral | Al Rajhi Capital | 32.40 | 32.00 | (1.23 %) |
Call Request
Comments Analysis: