Modern Insulators Ltd

₹ 149 5.00%

18 Sep - close price

About

Incorporated in 1982, Modern Insulators
Ltd is in the business of manufacturing insulators, terry towels and EPC projects^[1]

Key Points

Business Overview:^[1]
MIL is a part of the Modern Group of Industries which was set up in collaboration with Siemens, Germany. Company is an ISO 9001, 14001 & 45001 Certified manufacturer and exporter of porcelain insulators to National and Regional Utilities, Indian Railways, OEMs & EPC companies

Website BSE

Market Cap ₹ 703 Cr.
Current Price ₹ 149
High / Low ₹ 176 / 59.5
Stock P/E 17.7
Book Value ₹ 90.6
Dividend Yield 0.00 %
ROCE 9.12 %
ROE 8.93 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of 0.15% over past five years.
Tax rate seems low
Company has a low return on equity of 7.33% over last 3 years.
Earnings include an other income of Rs.15.6 Cr.

* 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: Capital Goods - Electrical Equipment Industry: Electric Equipment

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	97.37	105.13	115.18	118.54	100.76	100.45	106.99	122.76	89.75	106.19	107.14	140.21	103.82
	87.45	100.16	113.06	113.25	99.87	97.11	97.13	110.89	85.49	100.75	96.57	125.32	99.10
Operating Profit	9.92	4.97	2.12	5.29	0.89	3.34	9.86	11.87	4.26	5.44	10.57	14.89	4.72
OPM %	10.19%	4.73%	1.84%	4.46%	0.88%	3.33%	9.22%	9.67%	4.75%	5.12%	9.87%	10.62%	4.55%
	4.90	3.38	1.38	2.50	2.56	3.85	3.49	3.01	2.68	3.10	2.69	3.47	6.38
Interest	1.36	1.48	1.22	1.13	1.08	0.94	0.91	1.22	1.32	0.61	0.76	0.71	1.12
Depreciation	2.50	2.17	2.18	1.88	2.14	2.15	2.16	2.22	2.14	2.15	2.11	2.22	2.08
Profit before tax	10.96	4.70	0.10	4.78	0.23	4.10	10.28	11.44	3.48	5.78	10.39	15.43	7.90
Tax %	0.00%	20.43%	-190.00%	-44.56%	-326.09%	-16.10%	2.63%	-9.79%	-13.51%	-6.75%	2.31%	-5.12%	1.27%
	10.96	3.75	0.29	6.90	0.98	4.75	10.01	12.56	3.96	6.16	10.15	16.23	7.80
EPS in Rs	2.32	0.80	0.06	1.46	0.21	1.01	2.12	2.66	0.84	1.31	2.15	3.44	1.65
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	392	459	418	461	386	403	440	437	390	436	431	443	457
	355	418	381	419	350	371	404	401	350	414	407	408	422
Operating Profit	37	41	37	42	36	33	36	36	41	23	24	35	36
OPM %	9%	9%	9%	9%	9%	8%	8%	8%	10%	5%	5%	8%	8%
	5	-6	5	11	9	7	8	7	15	12	15	12	16
Interest	13	12	19	13	12	12	11	13	9	5	4	3	3
Depreciation	8	8	9	8	10	10	10	10	11	9	9	9	9
Profit before tax	21	16	14	32	23	18	24	19	36	21	26	35	40
Tax %	-2%	10%	-19%	8%	32%	7%	-9%	-20%	1%	-7%	-9%	-4%
	21	14	17	29	15	17	26	23	35	22	28	36	40
EPS in Rs					3.26	3.53	5.41	4.80	7.52	4.65	6.00	7.74	8.55
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	0%
5 Years:	0%
3 Years:	4%
TTM:	9%

Compounded Profit Growth
10 Years:	5%
5 Years:	7%
3 Years:	7%
TTM:	27%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	33%
1 Year:	138%

Return on Equity
10 Years:	8%
5 Years:	8%
3 Years:	7%
Last Year:	9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	22	22	22	22	47	47	47	47	47	47	47	47
Reserves	183	197	214	243	194	211	236	258	293	315	343	380
	72	49	61	59	78	84	93	101	24	26	8	19
	75	85	84	78	108	114	105	123	128	119	106	108
Total Liabilities	352	353	380	402	427	456	481	530	491	507	505	554
	132	132	138	135	202	195	190	192	182	175	168	161
CWIP	2	2	2	2	0	0	0	0	0	0	0	0
Investments	10	20	17	20	1	0	2	2	9	10	5	24
	208	199	223	245	225	261	289	336	300	322	331	370
Total Assets	352	353	380	402	427	456	481	530	491	507	505	554

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	20	44	-2	9	25	36	31	34	50	10	23	11
	-6	-19	-13	-8	-9	-30	-15	-43	37	-4	-4	-16
	-19	-23	12	-1	-17	-5	-2	-5	-87	-3	-22	8
Net Cash Flow	-5	1	-3	0	-1	0	14	-14	1	3	-3	3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	53	52	56	61	99	92	76	71	88	84	89	93
Inventory Days	131	103	184	129	244	257	289	400	353	340	306	271
Days Payable	60	55	66	54	115	109	84	147	130	110	83	85
Cash Conversion Cycle	124	100	174	136	227	240	280	323	310	313	312	279
Working Capital Days	80	74	92	88	137	137	132	165	150	150	167	200
ROCE %	12%	14%	12%	13%	9%	9%	10%	9%	10%	6%	8%	9%

Shareholding Pattern

Numbers in percentages

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	60.20%	60.20%	60.20%	60.20%	60.20%	60.20%	60.20%	60.20%	60.20%	60.20%	60.20%	60.20%
	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%
	4.15%	3.97%	3.59%	2.22%	2.82%	2.77%	2.72%	2.51%	2.23%	2.23%	1.94%	1.40%
	35.33%	35.52%	35.89%	37.26%	36.66%	36.72%	36.77%	36.98%	37.26%	37.26%	37.55%	38.08%
No. of Shareholders	1,34,635	1,34,994	1,35,147	1,35,150	1,35,192	1,35,132	1,35,020	1,34,849	1,35,141	1,37,109	1,37,869	1,38,358

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	54.67%	58.48%	58.48%	60.20%	60.20%	60.28%	60.20%	60.20%	60.20%	60.20%
	0.00%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%	0.31%
	4.61%	10.94%	10.94%	10.94%	8.01%	8.34%	3.59%	2.72%	1.94%	1.40%
	0.00%	0.00%	0.00%	0.00%	2.93%	0.00%	0.00%	0.00%	0.00%	0.00%
	40.73%	30.28%	30.28%	28.55%	28.55%	31.07%	35.89%	36.77%	37.55%	38.08%
No. of Shareholders	32,369	1,36,085	1,34,512	1,33,734	1,33,562	1,33,976	1,35,147	1,35,020	1,37,869	1,38,358

* 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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Modern Insulators Ltd

Modern Insulators Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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