Modi Naturals Ltd

About [ edit ]

Modi Naturals is in the business of manufacturing and marketing of oils and de-oiled cakes.

  • Market Cap 106 Cr.
  • Current Price 83.8
  • High / Low 92.0 / 20.6
  • Stock P/E 16.4
  • Book Value 46.4
  • Dividend Yield 0.00 %
  • ROCE 7.39 %
  • ROE 8.42 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 96.02% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 10.61% over past five years.
  • Company has a low return on equity of 4.29% for last 3 years.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -6.98%

Peer comparison

Sector: Edible Oil Industry: Solvent Extraction

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
80.95 62.60 57.54 92.58 83.56 73.88 97.39 122.59 94.78 104.41 89.81 113.03
76.37 61.29 56.54 91.47 81.45 72.40 96.00 121.32 91.23 102.51 88.46 110.26
Operating Profit 4.58 1.31 1.00 1.11 2.11 1.48 1.39 1.27 3.55 1.90 1.35 2.77
OPM % 5.66% 2.09% 1.74% 1.20% 2.53% 2.00% 1.43% 1.04% 3.75% 1.82% 1.50% 2.45%
Other Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest 0.94 0.58 0.19 0.12 0.85 0.72 0.63 0.40 0.95 0.58 0.22 0.13
Depreciation 0.32 0.34 0.34 0.34 0.26 0.34 0.32 0.31 0.41 0.37 0.36 0.36
Profit before tax 3.32 0.39 0.47 0.65 1.00 0.42 0.44 0.56 2.19 0.95 0.77 2.28
Tax % 3.61% 0.00% 0.00% 0.00% 160.00% 0.00% 0.00% 44.64% -57.99% 15.79% 25.97% 28.51%
Net Profit 3.20 0.39 0.47 0.65 -0.61 0.42 0.44 0.31 3.46 0.81 0.57 1.63
EPS in Rs 2.88 0.35 0.37 0.51 -0.48 0.33 0.35 0.24 2.73 0.64 0.45 1.29

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
121 116 111 167 194 210 234 271 291 277 295 387 402
117 113 108 163 188 205 230 263 288 274 291 381 392
Operating Profit 4 3 3 4 6 5 4 9 3 3 4 6 10
OPM % 3% 3% 2% 2% 3% 2% 2% 3% 1% 1% 1% 2% 2%
Other Income 2 1 -0 0 0 -0 0 0 2 1 1 1 0
Interest 1 1 1 2 2 2 3 3 3 3 2 3 2
Depreciation 1 1 1 1 1 1 1 1 1 1 1 1 2
Profit before tax 4 2 0 0 3 2 0 4 0 0 2 4 6
Tax % 25% 40% -100% 62% 33% 50% -7% 53% 107% 100% 64% -28%
Net Profit 3 1 0 0 2 1 0 2 -0 0 1 5 6
EPS in Rs 3.62 1.13 0.04 0.17 1.83 0.74 0.14 1.77 -0.02 0.00 0.70 3.66 5.11
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:13%
5 Years:11%
3 Years:10%
TTM:7%
Compounded Profit Growth
10 Years:17%
5 Years:96%
3 Years:264%
TTM:1055%
Stock Price CAGR
10 Years:19%
5 Years:-10%
3 Years:-3%
1 Year:297%
Return on Equity
10 Years:3%
5 Years:4%
3 Years:4%
Last Year:8%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
4 8 11 11 11 11 11 11 11 11 13 13 13
Reserves 13 10 14 16 18 18 18 20 20 21 40 45 46
Borrowings 12 19 19 22 18 22 28 35 36 33 31 33 4
6 7 6 7 16 24 19 20 32 33 29 30 30
Total Liabilities 35 45 50 56 63 75 77 87 99 97 113 120 93
15 16 20 20 20 19 18 18 20 19 20 19 19
CWIP 0 2 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
20 27 29 36 43 56 59 68 80 78 94 100 74
Total Assets 35 45 50 56 63 75 77 87 99 97 113 120 93

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
7 -5 -3 1 5 -5 -7 -7 -8 2 -7 1
-3 -4 -4 -1 -1 -1 -0 0 -2 -1 -2 -1
-2 7 6 3 -5 4 6 7 11 -3 8 1
Net Cash Flow 2 -2 -0 3 -1 -1 -1 -0 1 -1 -0 1

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 14% 9% 4% 5% 10% 7% 6% 12% 5% 5% 6% 7%
Debtor Days 6 7 10 18 12 18 18 17 12 10 14 15
Inventory Turnover 7.54 6.95 4.82 6.95 6.79 5.16 5.07 5.39 4.54 3.80 3.75 4.66

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
74.14 65.40 65.46 65.47 65.50 65.72 65.76 66.13 66.13 66.32 66.58 66.88
0.55 0.48 0.48 0.56 0.58 0.58 0.58 0.58 0.58 0.56 0.35 0.36
25.31 34.12 34.05 33.97 33.92 33.70 33.66 33.29 33.29 33.12 33.06 32.75

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