Madhusudan Industries Ltd
Madhusudan Industries Limited (MIL) was incorporated on 27th August 1945 under the name ''Madhusudan Vegetable Products Company Limited''.
Presently, the company is engaged in the business of Leasing properties and providing ancillary services along with the horticulture business.
- Market Cap ₹ 33.3 Cr.
- Current Price ₹ 61.8
- High / Low ₹ 94.9 / 20.4
- Stock P/E 6.60
- Book Value ₹ 55.5
- Dividend Yield 0.00 %
- ROCE 14.3 %
- ROE 10.2 %
- Face Value ₹ 5.00
Pros
- Company is almost debt free.
- Stock is trading at 1.11 times its book value
- Company has delivered good profit growth of 20.2% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 7.98% over last 3 years.
- Earnings include an other income of Rs.6.76 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: Miscellaneous Industry: Miscellaneous
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.99 | 0.84 | 0.86 | 0.91 | 0.93 | 1.06 | 1.10 | 1.15 | 0.75 | 0.91 | 1.08 | 1.16 | 1.21 | |
| 0.67 | 0.55 | 0.52 | 1.10 | 0.96 | 1.27 | 1.12 | 1.30 | 2.68 | 0.95 | 0.80 | 0.80 | 1.00 | |
| Operating Profit | 0.32 | 0.29 | 0.34 | -0.19 | -0.03 | -0.21 | -0.02 | -0.15 | -1.93 | -0.04 | 0.28 | 0.36 | 0.21 |
| OPM % | 32.32% | 34.52% | 39.53% | -20.88% | -3.23% | -19.81% | -1.82% | -13.04% | -257.33% | -4.40% | 25.93% | 31.03% | 17.36% |
| 0.75 | 0.65 | 0.37 | 0.59 | 0.66 | 3.17 | 1.56 | 0.53 | 0.68 | 4.93 | 3.11 | 3.15 | 6.76 | |
| Interest | 0.20 | 0.07 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | 0.00 |
| Depreciation | 0.19 | 0.15 | 0.13 | 0.22 | 0.26 | 0.19 | 0.14 | 0.13 | 0.11 | 0.10 | 0.11 | 0.13 | 0.12 |
| Profit before tax | 0.68 | 0.72 | 0.58 | 0.18 | 0.37 | 2.77 | 1.40 | 0.25 | -1.36 | 4.79 | 3.28 | 3.38 | 6.85 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | 29.73% | 24.19% | 23.57% | 32.00% | 28.68% | 25.05% | 23.78% | 28.99% | |
| 0.68 | 0.72 | 0.58 | 0.18 | 0.26 | 2.11 | 1.07 | 0.17 | -0.98 | 3.58 | 2.49 | 2.41 | 5.04 | |
| EPS in Rs | 1.27 | 1.34 | 1.08 | 0.33 | 0.48 | 3.93 | 1.99 | 0.32 | -1.82 | 6.66 | 4.63 | 4.48 | 9.37 |
| 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: | 3% |
| 5 Years: | 1% |
| 3 Years: | 16% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 20% |
| 3 Years: | 63% |
| TTM: | 354% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 31% |
| 3 Years: | 84% |
| 1 Year: | 182% |
| Return on Equity | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 4% |
| 3 Years: | 8% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 | 2.69 |
| Reserves | 9.64 | 10.36 | 10.94 | 10.37 | 10.63 | 14.61 | 15.66 | 15.81 | 14.83 | 18.42 | 20.89 | 23.29 | 27.16 |
| 1.30 | 0.51 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | |
| 1.37 | 1.21 | 1.08 | 1.06 | 1.18 | 1.30 | 1.54 | 1.48 | 0.99 | 2.04 | 2.70 | 3.24 | 4.40 | |
| Total Liabilities | 15.00 | 14.77 | 14.71 | 14.12 | 14.50 | 18.60 | 19.89 | 19.98 | 18.51 | 23.15 | 26.28 | 29.22 | 34.25 |
| 1.67 | 1.51 | 1.39 | 3.11 | 2.84 | 2.50 | 2.36 | 2.23 | 2.12 | 2.02 | 2.02 | 1.90 | 1.85 | |
| CWIP | -0.00 | -0.00 | 0.31 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Investments | 6.27 | 5.52 | 4.41 | 4.19 | 4.29 | 9.63 | 10.89 | 10.63 | 8.78 | 12.91 | 14.99 | 16.80 | 21.37 |
| 7.06 | 7.74 | 8.60 | 6.82 | 7.37 | 6.47 | 6.64 | 7.12 | 7.61 | 8.22 | 9.27 | 10.52 | 11.03 | |
| Total Assets | 15.00 | 14.77 | 14.71 | 14.12 | 14.50 | 18.60 | 19.89 | 19.98 | 18.51 | 23.15 | 26.28 | 29.22 | 34.25 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2.04 | 0.05 | 0.99 | 1.71 | -0.27 | -0.59 | 0.24 | -0.38 | -0.65 | -0.44 | -1.09 | -1.36 | |
| -0.81 | 1.29 | 0.93 | -1.67 | 0.45 | -0.17 | 0.28 | 0.25 | 0.57 | 0.56 | 0.89 | 1.33 | |
| -1.46 | -0.70 | -0.50 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | |
| Net Cash Flow | -0.23 | 0.64 | 1.42 | 0.05 | 0.18 | -0.76 | 0.52 | -0.12 | -0.08 | 0.12 | -0.20 | -0.03 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 630.45 | 738.69 | 721.51 | 577.58 | 431.72 | 158.40 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 630.45 | 738.69 | 721.51 | 577.58 | 431.72 | 158.40 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Working Capital Days | 822.17 | 1,108.04 | 912.50 | 946.59 | 1,047.90 | 864.29 | 743.27 | 761.74 | 1,241.00 | 1,123.08 | 963.19 | 956.55 |
| ROCE % | 5.69% | 4.85% | 5.08% | 1.27% | 2.35% | 17.77% | 7.41% | 0.98% | -8.27% | 1.97% | 14.68% | 14.29% |
Documents
Announcements
- Compliance Certificate Pursuant To Regulation 7(3) Of The SEBI (LODR) Regulations, 2015, For The Period Ended 31St March 2024. 1d
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 11 Apr
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
10 Apr - Compliance Certificate for the quarter ended on 31.03.2024.
- Shareholder Meeting / Postal Ballot-Outcome of AGM 9 Apr
- Announcement under Regulation 30 (LODR)-Change in Directorate 1 Apr
Annual reports
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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 2014
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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 2010
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Financial Year 2009
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**History of the Company ** [1]
The company used to manufacture Edible oils and had 3 Edible Oil units. During the year 1981, the Management decided to diversify its activities and set up a Ceramic Sanitaryware unit at Kadi, Gujarat. The unit was named Madhusudan Ceramics a division of Madhusudan Industries Ltd. The products of the Company are marketed under the brand name of CERA. In the year 2001, the Ceramic Division of the Company was demerged to a separate group company and named as Madhusudan Oils and Fats Ltd. Later the name of the Company was changed and it is now known as Cera Sanitaryware Ltd.
The Company also exited from the manufacturing of edible oil products and diversified into Horticulture under the patronage of National Horticulture Board. The production of flowers was commenced from December, 2008. The Company is now engaged in horticultural activities and also rented the godowns and premises.