Mahaan Foods Ltd

Mahaan Foods Ltd

₹ 42.3 -5.50%
24 Apr 10:53 a.m.
About

Incorporated in 1987, Mahaan Foods Limited is engaged in manufacturing of dairy products and pharma nutritional products.

Key Points

Product Profile:[1]
Company processes skimmed milk to manufacture Dairy Whitener, Skimmed Milk Powder, Whole Milk Powder, Instantized Milk Powders, Baby Foods and other milk based products.
a) Domestic Markets: Ghee is marketed under brand name MAHAAN. It is available in packages from 200 ml. to 5 Kg. in refill packs, HDPE jars and tin containers.
Skimmed milk powder is supplied in pack sizes of 1 kg and 25 kg under brand name “MAHAAN”.
Sweetened Milk Powder is supplied in various pack sizes under different brands like Mahaan, Every Time, Energy, Classic, Amar Spray, Sumona & Radhey, etc.
b) Institutions: Company supplies Skimmed Milk Powder and Whole Milk Powder to institutions for use as raw material for manufacturing of their products in 25 kg bulk pack size.

  • Market Cap 14.8 Cr.
  • Current Price 42.3
  • High / Low 49.9 / 24.0
  • Stock P/E 27.4
  • Book Value 55.1
  • Dividend Yield 0.00 %
  • ROCE 4.26 %
  • ROE 3.13 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 0.81 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 1.52% over last 3 years.

* 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: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Figures in Rs. Crores

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
-0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
0.07 0.58 0.08 0.05 0.06 0.07 0.09 0.06 0.07 0.08 0.08 0.07 0.05
Operating Profit -0.07 -0.58 -0.08 -0.05 -0.06 -0.07 -0.09 -0.06 -0.07 -0.08 -0.08 -0.07 -0.05
OPM %
0.15 0.41 0.09 0.13 0.13 0.17 0.38 0.15 0.23 0.39 0.10 0.29 0.32
Interest -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0.01
Depreciation 0.01 0.01 0.01 0.01 0.01 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Profit before tax 0.07 -0.18 -0.00 0.07 0.06 0.08 0.28 0.08 0.15 0.30 0.01 0.21 0.25
Tax % 28.57% 22.22% 14.29% -16.67% 62.50% -0.00% 100.00% 26.67% 30.00% -0.00% -128.57% 152.00%
0.05 -0.14 -0.00 0.05 0.08 0.03 0.28 -0.00 0.11 0.20 -0.00 0.47 -0.13
EPS in Rs 0.14 -0.40 -0.00 0.14 0.23 0.09 0.80 -0.00 0.31 0.57 -0.00 1.34 -0.37
Raw PDF

Profit & Loss

Figures in Rs. Crores

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
183.90 160.39 13.27 8.85 -0.01 1.68 0.72 0.61 5.30 0.07 -0.00 -0.00 0.00
181.47 158.28 13.72 9.40 0.48 1.46 0.94 0.82 4.13 0.82 0.26 0.30 0.28
Operating Profit 2.43 2.11 -0.45 -0.55 -0.49 0.22 -0.22 -0.21 1.17 -0.75 -0.26 -0.30 -0.28
OPM % 1.32% 1.32% -3.39% -6.21% 13.10% -30.56% -34.43% 22.08% -1,071.43%
0.12 0.24 2.78 0.64 0.70 -2.14 1.95 3.60 0.58 0.88 0.52 1.14 1.10
Interest 1.69 1.48 1.34 -0.00 -0.00 0.01 0.01 -0.00 -0.00 -0.00 -0.00 -0.00 0.01
Depreciation 0.44 0.43 0.40 0.18 0.12 0.11 0.11 0.10 0.05 0.05 0.05 0.05 0.04
Profit before tax 0.42 0.44 0.59 -0.09 0.09 -2.04 1.61 3.29 1.70 0.08 0.21 0.79 0.77
Tax % 21.43% 65.91% -81.36% 533.33% -55.56% -7.84% 9.94% 2.74% 37.65% -37.50% 23.81% 26.58%
0.33 0.15 1.07 0.39 0.15 -2.20 1.45 3.19 1.06 0.10 0.15 0.58 0.54
EPS in Rs 0.94 0.43 3.06 1.11 0.43 -6.28 4.14 9.11 3.03 0.29 0.43 1.66 1.54
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: %
5 Years: %
3 Years: %
TTM: %
Compounded Profit Growth
10 Years: 14%
5 Years: 35%
3 Years: -18%
TTM: 29%
Stock Price CAGR
10 Years: 16%
5 Years: 14%
3 Years: 38%
1 Year: 85%
Return on Equity
10 Years: 1%
5 Years: 3%
3 Years: 2%
Last Year: 3%

Balance Sheet

Figures in Rs. Crores

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 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50
Reserves 9.23 9.37 10.44 10.83 10.98 8.78 10.23 13.43 14.48 14.58 14.74 15.32 15.79
9.20 10.14 0.07 0.01 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
16.91 15.65 7.60 7.49 7.49 8.13 6.75 0.64 1.05 0.20 0.19 0.42 0.33
Total Liabilities 38.84 38.66 21.61 21.83 21.97 20.41 20.48 17.57 19.03 18.28 18.43 19.24 19.62
5.55 5.25 1.21 0.84 0.72 0.59 0.48 0.35 0.30 0.25 0.20 0.15 0.12
CWIP 0.40 0.40 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00
Investments 2.75 2.75 2.75 9.31 9.31 7.16 7.16 6.56 6.56 6.56 6.56 -0.00 -0.00
30.14 30.26 17.65 11.68 11.94 12.66 12.84 10.66 12.17 11.47 11.67 19.09 19.50
Total Assets 38.84 38.66 21.61 21.83 21.97 20.41 20.48 17.57 19.03 18.28 18.43 19.24 19.62

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
4.60 -2.96 5.35 4.76 -0.31 6.86 -0.30 -4.05 1.61 -0.46 0.01 -0.72
0.10 0.11 6.81 -5.72 0.70 0.02 0.43 1.35 0.58 0.88 0.52 7.70
-2.34 -0.54 -11.41 -0.06 -0.01 -0.01 -0.01 2.86 -0.00 -0.00 -0.00 -0.00
Net Cash Flow 2.36 -3.39 0.75 -1.02 0.38 6.87 0.12 0.17 2.19 0.42 0.53 6.99

Ratios

Figures in Rs. Crores

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 14.73 6.94 91.32 36.29 -20,805.00 82.56 263.61 263.28 36.50 1,564.29
Inventory Days 30.71 59.81 315.37 8.16 -7,300.00 68.87
Days Payable 22.38 36.93 226.44 273.24 2,479.25
Cash Conversion Cycle 23.06 29.82 180.24 -228.79 -28,105.00 -2,327.82 263.61 263.28 36.50 1,564.29
Working Capital Days 19.65 33.86 250.03 155.49 130,670.00 -693.07 -826.32 1,244.59 94.35 5,579.29
ROCE % 9.60% 8.59% -1.89% -0.63% 0.62% 4.48% 1.23% 2.80% 9.74% 0.44% 1.16% 4.26%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
53.29% 53.29% 53.29% 54.16% 54.16% 54.16% 54.16% 54.16% 54.16% 54.16% 54.16% 54.16%
0.18% 0.18% 0.18% 0.18% 0.18% 0.18% 0.18% 0.18% 0.18% 0.18% 0.18% 0.18%
46.53% 46.53% 46.53% 45.66% 45.66% 45.66% 45.66% 45.67% 45.66% 45.66% 45.66% 45.66%
No. of Shareholders 3,4293,4893,5883,7103,7263,6793,7503,7823,7843,8473,8873,916

* 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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