Southern Magnesium & Chemicals Ltd

₹ 255 5.00%

25 Apr 4:01 p.m.

About

Incorporated in 1985, Southern Magnesium
& Chemicals Ltd manufactures magnesium metal

Key Points

Business Overview:^[1]
Company largely deals on government entities for its business

Product Profile:^[2]^[3]
Company was set up to produce primary Magnesium Metal in a joint venture with Andhra Pradesh Industrial Development Corporation. However, due to dumping magnesium metal from China, company shifted its focus to downstream products viz.,
a) Magnesium powders
b) Turnings
c) Regular magnesium metal ingots
d) Magnesium granules
e) Magnesium alloy
f) Magnesium extrusion
g) Magnesium Chips

Website BSE

Market Cap ₹ 76.6 Cr.
Current Price ₹ 255
High / Low ₹ 288 / 58.5
Stock P/E 23.2
Book Value ₹ 25.9
Dividend Yield 0.00 %
ROCE 92.4 %
ROE 75.9 %
Face Value ₹ 10.0

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Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 39.0%
Company's working capital requirements have reduced from 281 days to 69.0 days

Cons

Stock is trading at 9.84 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Mining & Mineral products Industry: Mining / Minerals / Metals

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	0.35	0.76	0.66	0.10	1.40	0.17	2.93	1.06	2.79	1.80	1.38	2.56	2.88
	0.51	0.54	0.43	0.34	0.53	0.41	1.13	0.66	1.18	0.74	0.74	1.37	1.42
Operating Profit	-0.16	0.22	0.23	-0.24	0.87	-0.24	1.80	0.40	1.61	1.06	0.64	1.19	1.46
OPM %	-45.71%	28.95%	34.85%	-240.00%	62.14%	-141.18%	61.43%	37.74%	57.71%	58.89%	46.38%	46.48%	50.69%
	0.00	0.01	0.01	0.02	0.01	0.00	0.01	0.01	0.01	0.05	0.04	0.11	0.09
Interest	0.02	0.03	0.02	0.02	0.01	0.01	0.01	0.00	0.00	0.00	0.01	0.03	0.03
Depreciation	0.02	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Profit before tax	-0.20	0.18	0.20	-0.26	0.85	-0.27	1.79	0.40	1.61	1.10	0.66	1.26	1.51
Tax %	25.00%	27.78%	20.00%	26.92%	22.35%	25.93%	25.70%	25.00%	26.09%	33.64%	27.27%	27.78%	21.85%
	-0.15	0.13	0.16	-0.19	0.65	-0.21	1.33	0.30	1.18	0.73	0.48	0.91	1.18
EPS in Rs	-0.50	0.43	0.53	-0.63	2.17	-0.70	4.43	1.00	3.93	2.43	1.60	3.03	3.93
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	1.56	2.09	1.75	5.46	3.22	6.32	1.54	4.42	1.59	2.01	2.34	8.57	8.62
	1.37	1.43	1.44	2.83	1.70	3.39	2.21	2.63	1.79	1.97	1.72	3.72	4.27
Operating Profit	0.19	0.66	0.31	2.63	1.52	2.93	-0.67	1.79	-0.20	0.04	0.62	4.85	4.35
OPM %	12.18%	31.58%	17.71%	48.17%	47.20%	46.36%	-43.51%	40.50%	-12.58%	1.99%	26.50%	56.59%	50.46%
	-0.22	-0.06	0.00	0.83	0.03	0.07	-0.29	0.05	0.03	0.03	0.04	0.09	0.29
Interest	0.04	0.02	0.05	0.07	0.09	0.08	0.09	0.08	0.08	0.09	0.06	0.01	0.07
Depreciation	0.04	0.02	0.02	0.02	0.02	0.02	0.05	0.07	0.09	0.10	0.10	0.05	0.04
Profit before tax	-0.11	0.56	0.24	3.37	1.44	2.90	-1.10	1.69	-0.34	-0.12	0.50	4.88	4.53
Tax %	0.00%	0.00%	0.00%	3.26%	34.72%	34.83%	1.82%	18.93%	35.29%	16.67%	22.00%	28.28%
	-0.11	0.55	0.24	3.26	0.94	1.90	-1.08	1.37	-0.23	-0.09	0.40	3.51	3.30
EPS in Rs	-0.37	1.83	0.80	10.87	3.13	6.33	-3.60	4.57	-0.77	-0.30	1.33	11.70	10.99
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	15%
5 Years:	41%
3 Years:	75%
TTM:	24%

Compounded Profit Growth
10 Years:	19%
5 Years:	46%
3 Years:	158%
TTM:	27%

Stock Price CAGR
10 Years:	%
5 Years:	51%
3 Years:	191%
1 Year:	224%

Return on Equity
10 Years:	%
5 Years:	34%
3 Years:	39%
Last Year:	76%

Balance Sheet

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00	3.00
Reserves	-6.48	-5.92	-5.69	-3.34	-2.39	-0.50	-1.58	-0.21	-0.44	-0.54	-0.14	3.39	4.78
Preference Capital	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	2.96	2.61	1.97	2.34	1.83	1.22	1.40	0.55	0.72	1.35	1.15	0.19	3.25
	1.93	1.94	2.19	0.37	0.88	2.37	0.73	0.48	0.21	0.15	0.39	1.02	0.32
Total Liabilities	1.41	1.63	1.47	2.37	3.32	6.09	3.55	3.82	3.49	3.96	4.40	7.60	11.35
	0.42	0.40	0.37	0.34	0.32	0.31	0.49	0.42	0.55	0.47	0.39	0.38	0.37
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.99	1.23	1.09	2.03	3.00	5.78	3.06	3.40	2.94	3.49	4.01	7.22	10.98
Total Assets	1.41	1.63	1.47	2.37	3.32	6.09	3.55	3.82	3.49	3.96	4.40	7.60	11.35

Cash Flows

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-0.57	0.39	0.05	1.11	0.50	1.00	0.07	1.07	-0.26	0.16	0.40	4.34
	0.24	0.00	0.00	0.69	0.01	0.03	-0.22	-0.09	0.15	-0.72	-0.14	-2.53
	0.31	-0.38	-0.01	-1.59	-0.61	-0.69	0.09	-0.93	0.09	0.54	-0.25	-0.98
Net Cash Flow	-0.02	0.01	0.04	0.22	-0.10	0.34	-0.06	0.04	-0.01	-0.03	0.01	0.83

Ratios

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	133.37	113.52	98.03	54.15	115.62	69.88	52.14	21.47	22.96	19.98	32.76	26.83
Inventory Days	117.74	169.33	222.36	136.66	669.17	465.86	647.30	568.61	1,355.71	843.82	1,126.74	326.13
Days Payable	7.85	18.81	8.39	0.00	0.00	100.86	28.52	0.00	0.00	23.55	0.00	0.00
Cash Conversion Cycle	243.26	264.03	311.99	190.81	784.79	434.88	670.93	590.08	1,378.67	840.24	1,159.50	352.97
Working Capital Days	14.04	45.41	-35.46	98.94	227.84	174.99	452.69	189.11	560.13	404.95	369.68	69.00
ROCE %	39.47%	109.40%	59.79%	230.70%	68.92%	96.75%	-20.80%	57.47%	-7.85%	-0.85%	14.32%	92.35%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	53.36%	54.16%	54.16%	54.16%
	11.25%	11.25%	11.25%	11.25%	11.25%	11.25%	11.25%	11.25%	11.25%	11.25%	11.25%	11.25%
	35.39%	35.39%	35.39%	35.39%	35.39%	35.39%	35.39%	35.39%	35.38%	34.59%	34.59%	34.59%
No. of Shareholders	3,929	3,943	3,971	3,997	4,007	4,374	4,391	4,415	4,700	4,585	4,867	5,080

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	54.03%	52.95%	53.36%	53.36%	53.36%	53.36%	53.36%	54.16%
	0.00%	0.00%	0.00%	0.00%	11.25%	11.25%	11.25%	11.25%
	45.97%	47.05%	46.64%	46.64%	35.39%	35.39%	35.39%	34.59%
No. of Shareholders	4,009	4,021	3,943	3,910	3,917	3,997	4,415	5,080

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Southern Magnesium & Chemicals Ltd

Southern Magnesium & Chemicals Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports