Modern Insulators Ltd

₹ 130 4.99%

02 May 4:01 p.m.

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 ₹ 611 Cr.
Current Price ₹ 130
High / Low ₹ 135 / 42.8
Stock P/E 18.8
Book Value ₹ 84.6
Dividend Yield 0.00 %
ROCE 7.49 %
ROE 7.33 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Tax rate seems low
Company has a low return on equity of 7.21% over last 3 years.
Earnings include an other income of Rs.11.1 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

Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	106	127	99	106	115	121	101	100	107	123	90	106	107
	95	113	89	102	114	114	100	97	97	111	85	101	97
Operating Profit	11	14	10	4	1	7	1	3	10	12	4	5	11
OPM %	11%	11%	10%	4%	1%	6%	1%	3%	9%	10%	5%	5%	10%
	3	5	5	3	2	3	2	4	3	3	3	3	3
Interest	2	2	1	1	1	1	1	1	1	1	1	1	1
Depreciation	3	3	2	2	2	2	2	2	2	2	2	2	2
Profit before tax	9	15	10	4	-0	7	0	4	10	11	3	6	10
Tax %	4%	6%	0%	25%	119%	-33%	-536%	-17%	3%	-10%	-14%	-7%	2%
	9	14	10	3	0	9	1	5	10	12	4	6	10
EPS in Rs	1.84	3.00	2.22	0.60	0.00	1.83	0.19	0.99	2.11	2.64	0.81	1.30	2.13
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	459	418	461	440	398	442	431	426
	418	381	419	404	359	419	408	394
Operating Profit	41	37	42	36	40	23	23	32
OPM %	9%	9%	9%	8%	10%	5%	5%	8%
	-6	5	11	6	15	12	15	11
Interest	12	19	13	13	9	5	4	4
Depreciation	8	9	8	10	11	9	9	9
Profit before tax	16	14	32	19	34	21	26	31
Tax %	10%	-19%	8%	-20%	1%	-7%	-9%
	14	17	29	22	34	22	28	32
EPS in Rs				4.76	7.24	4.66	5.93	6.88
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	-1%
TTM:	-1%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	0%
TTM:	34%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	44%
1 Year:	195%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	7%
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	Sep 2023
Equity Capital	22	22	22	47	47	47	47	47
Reserves	197	214	243	258	291	313	342	352
	49	61	59	101	24	26	8	4
	85	84	78	124	128	119	107	105
Total Liabilities	353	380	402	530	491	506	504	508
	132	138	135	192	182	175	168	164
CWIP	2	2	2	0	0	0	4	1
Investments	20	17	20	2	9	10	5	8
	199	223	245	336	299	320	326	335
Total Assets	353	380	402	530	491	506	504	508

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	44	-2	9	27	53	14	23
	-19	-13	-8	-34	35	-8	-4
	-23	12	-1	-7	-87	-3	-22
Net Cash Flow	1	-3	0	-14	1	3	-3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	52	56	61	70	86	83	89
Inventory Days	125	214	156	415	345	332	306
Days Payable	55	66	54	147	126	108	83
Cash Conversion Cycle	122	204	163	338	305	307	312
Working Capital Days	84	103	98	163	144	146	161
ROCE %		12%	13%		10%	6%	7%

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
	60.28%	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%
	6.10%	4.15%	3.97%	3.59%	2.22%	2.82%	2.77%	2.72%	2.51%	2.23%	2.23%	1.94%
	33.31%	35.33%	35.52%	35.89%	37.26%	36.66%	36.72%	36.77%	36.98%	37.26%	37.26%	37.55%
No. of Shareholders	1,34,293	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

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	54.67%	58.48%	58.48%	60.20%	60.20%	60.28%	60.20%	60.20%	60.20%
	0.00%	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%
	0.00%	0.00%	0.00%	0.00%	2.93%	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%
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

* 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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