Modern Insulators Ltd
Modern Insulators is an arm of the Modern group of Industries and was set up in 1985 in collaboration with Siemens, Germany. Modern Insulators is also India’s largest manufacturer and exporter of porcelain insulators and is closely associated with National and Regional Utilities, Indian Railways, OEMs & EPC companies worldwide.[1]
- Market Cap ₹ 578 Cr.
- Current Price ₹ 122
- High / Low ₹ 173 / 85.0
- Stock P/E 14.3
- Book Value ₹ 98.3
- Dividend Yield 0.00 %
- ROCE 9.05 %
- ROE 7.40 %
- Face Value ₹ 10.0
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 2.74% over past five years.
- Tax rate seems low
- Company has a low return on equity of 7.84% over last 3 years.
- Earnings include an other income of Rs.19.1 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
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|
459 | 418 | 461 | 440 | 398 | 442 | 431 | 443 | 503 | 541 | |
418 | 381 | 419 | 404 | 359 | 419 | 406 | 408 | 465 | 495 | |
Operating Profit | 41 | 37 | 42 | 36 | 40 | 23 | 25 | 35 | 38 | 46 |
OPM % | 9% | 9% | 9% | 8% | 10% | 5% | 6% | 8% | 8% | 9% |
-6 | 5 | 11 | 6 | 15 | 12 | 14 | 12 | 19 | 19 | |
Interest | 12 | 19 | 13 | 13 | 9 | 5 | 4 | 3 | 4 | 5 |
Depreciation | 8 | 9 | 8 | 10 | 11 | 9 | 9 | 9 | 9 | 9 |
Profit before tax | 16 | 14 | 32 | 19 | 34 | 21 | 26 | 35 | 45 | 52 |
Tax % | 10% | -19% | 8% | -20% | 1% | -7% | -9% | -4% | 14% | |
14 | 17 | 29 | 22 | 34 | 22 | 28 | 36 | 39 | 46 | |
EPS in Rs | 4.76 | 7.24 | 4.66 | 5.93 | 7.64 | 8.18 | 9.81 | |||
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 2% |
5 Years: | 3% |
3 Years: | 4% |
TTM: | 18% |
Compounded Profit Growth | |
---|---|
10 Years: | 7% |
5 Years: | 4% |
3 Years: | 20% |
TTM: | 3% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 71% |
3 Years: | 46% |
1 Year: | -13% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 8% |
3 Years: | 8% |
Last Year: | 7% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
Equity Capital | 22 | 22 | 22 | 47 | 47 | 47 | 47 | 47 | 47 |
Reserves | 197 | 214 | 243 | 258 | 291 | 313 | 342 | 378 | 416 |
49 | 61 | 59 | 101 | 24 | 26 | 8 | 19 | 25 | |
85 | 84 | 78 | 124 | 128 | 119 | 107 | 110 | 115 | |
Total Liabilities | 353 | 380 | 402 | 530 | 491 | 506 | 504 | 554 | 604 |
132 | 138 | 135 | 192 | 182 | 175 | 168 | 163 | 172 | |
CWIP | 2 | 2 | 2 | 0 | 0 | 0 | 4 | 2 | 1 |
Investments | 20 | 17 | 20 | 2 | 9 | 10 | 5 | 19 | 46 |
199 | 223 | 245 | 336 | 299 | 320 | 326 | 370 | 384 | |
Total Assets | 353 | 380 | 402 | 530 | 491 | 506 | 504 | 554 | 604 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
44 | -2 | 9 | 27 | 53 | 14 | 23 | 12 | 40 | |
-19 | -13 | -8 | -34 | 35 | -8 | -4 | -16 | -41 | |
-23 | 12 | -1 | -7 | -87 | -3 | -22 | 8 | 2 | |
Net Cash Flow | 1 | -3 | 0 | -14 | 1 | 3 | -3 | 3 | 0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
Debtor Days | 52 | 56 | 61 | 70 | 86 | 83 | 89 | 93 | 88 |
Inventory Days | 125 | 214 | 156 | 415 | 345 | 332 | 306 | 271 | 325 |
Days Payable | 55 | 66 | 54 | 147 | 126 | 108 | 83 | 85 | 99 |
Cash Conversion Cycle | 122 | 204 | 163 | 338 | 305 | 307 | 312 | 279 | 314 |
Working Capital Days | 45 | 51 | 51 | 80 | 123 | 125 | 154 | 166 | 180 |
ROCE % | 12% | 13% | 10% | 6% | 7% | 9% | 9% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
16 Aug - Newspaper advertisement of the Unaudited financial statement in pursuance of Regulation 30 and 47 of SEBI (LODR) Regulation, 2015.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
16 Aug - Newspaper advertisement of the Unaudited financial statement in pursuance of Regulation 30 and 47 of SEBI (LODR) Regulation, 2015.
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Unaudited Standalone & Consolidated Financial Results For The Quarter Ended 30Th June 2025
14 Aug - Modern Insulators reports Q1 FY26 unaudited results; revenue ₹14,673.67L, profit ₹1,613.55L; tax not provided due to proposed amalgamation.
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Board Meeting Outcome for Outcome Of Board Meeting Held On 14Th August, 2025
14 Aug - Q1 FY2025-26 results approved; secretarial auditor appointed; tax provision deferred due to proposed amalgamation.
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Board Meeting Intimation for Approval Of Unaudited (Standalone & Consoldiated) Financial Results For The Quarter Ended 30Th June, 2025
11 Aug - Board meeting on Aug 14 to approve Q1 June 2025 unaudited financial results; trading window closed.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2009
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Financial Year 2008
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Certification[1]
Modern is an ISO 9001, 14001 & 45001 Certified Company and also India’s largest exporter of porcelain insulators.