Morganite Crucible (India) Ltd

About

Morganite Crucible (India) is primarily engaged in the manufacture and selling of silicon carbide and clay graphite crucibles and its accessories.

  • Market Cap 570 Cr.
  • Current Price 1,018
  • High / Low 1,213 / 730
  • Stock P/E
  • Book Value 183
  • Dividend Yield 0.79 %
  • ROCE 8.47 %
  • ROE 0.48 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter

Cons

  • The company has delivered a poor sales growth of 3.80% over past five years.
  • Company has a low return on equity of 9.53% for last 3 years.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
30.16 31.26 27.01 34.01 28.16 35.86 30.52 15.48 24.15 32.59 34.64 33.77
26.58 25.84 23.74 27.97 24.58 28.71 24.38 15.33 21.28 28.29 30.03 27.00
Operating Profit 3.58 5.42 3.27 6.04 3.58 7.15 6.14 0.15 2.87 4.30 4.61 6.77
OPM % 11.87% 17.34% 12.11% 17.76% 12.71% 19.94% 20.12% 0.97% 11.88% 13.19% 13.31% 20.05%
Other Income 2.03 0.83 1.41 1.44 1.33 -3.64 1.72 0.36 0.38 -1.19 0.01 4.16
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
Depreciation 1.02 1.09 1.21 1.25 1.33 1.42 1.35 1.41 1.43 1.43 1.39 1.72
Profit before tax 4.59 5.16 3.47 6.23 3.58 2.09 6.51 -0.90 1.82 1.68 3.23 9.21
Tax % 30.07% 30.04% 28.82% 32.10% 25.14% 7.18% 34.56% 25.56% 25.82% 414.88% -13.62% 26.93%
Net Profit 3.21 3.61 2.48 4.24 2.68 1.94 4.26 -0.67 1.35 -5.29 3.67 6.73
EPS in Rs 5.73 6.45 4.43 7.57 4.79 3.46 7.61 -1.20 2.41 -9.45 6.55 12.02

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
53 68 80 80 81 89 89 111 109 120 129 107 125
41 54 62 62 64 70 68 83 86 100 111 96 107
Operating Profit 12 13 17 18 17 18 20 29 23 20 17 10 19
OPM % 23% 20% 22% 22% 21% 21% 23% 26% 21% 17% 13% 10% 15%
Other Income 2 0 1 1 2 0 2 2 3 6 7 1 3
Interest 1 1 0 0 0 0 0 0 0 0 0 0 0
Depreciation 3 3 3 4 5 8 7 5 4 4 5 6 6
Profit before tax 10 9 14 14 13 11 16 26 21 22 18 6 16
Tax % 30% 47% 36% 40% 37% 44% 36% 37% 35% 30% 29% 116%
Net Profit 7 5 9 9 8 6 10 17 14 15 13 -1 6
EPS in Rs 12.18 8.84 16.21 15.27 15.04 10.75 17.64 29.64 24.79 27.45 23.43 -1.66 11.53
Dividend Payout % 0% 0% 3% 3% 3% 5% 11% 13% 32% 29% 34% 0%
Compounded Sales Growth
10 Years:5%
5 Years:4%
3 Years:-1%
TTM:14%
Compounded Profit Growth
10 Years:-21%
5 Years:-45%
3 Years:-67%
TTM:-153%
Stock Price CAGR
10 Years:18%
5 Years:24%
3 Years:2%
1 Year:11%
Return on Equity
10 Years:14%
5 Years:13%
3 Years:10%
Last Year:0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
3 3 3 3 3 3 3 3 3 3 3 3
Reserves 23 28 36 45 53 58 67 77 88 96 105 100
Borrowings 15 4 5 0 0 0 0 0 0 0 0 0
25 32 29 28 27 14 18 38 23 28 32 37
Total Liabilities 66 67 73 76 82 75 88 118 114 127 139 139
27 27 25 25 23 18 15 25 27 31 32 30
CWIP 1 0 1 0 0 1 3 2 0 4 19 22
Investments 5 5 5 5 5 5 5 0 0 0 0 0
32 35 41 46 54 51 65 91 87 93 88 87
Total Assets 66 67 73 76 82 75 88 118 114 127 139 139

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
7 14 7 12 6 3 18 25 17 21 11 19
-1 -4 -2 -4 -2 -2 -15 -8 -10 -29 1 -7
-3 -6 -7 -5 -0 -0 -0 -1 -3 -7 -4 -4
Net Cash Flow 2 4 -2 3 3 1 2 16 4 -15 7 7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 66 52 66 64 61 50 59 60 57 52 66 76
Inventory Days 267 165 173 150 156 142 149 158 179 159 158 143
Days Payable 410 238 237 249 232 116 119 129 176 161 145 178
Cash Conversion Cycle -78 -21 2 -35 -15 75 89 89 60 49 78 41
Working Capital Days 43 -29 26 23 41 69 67 5 60 44 62 33
ROCE % 28% 29% 37% 31% 27% 19% 24% 36% 25% 23% 18% 8%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
1.22 1.22 1.22 1.22 1.13 1.10 1.03 1.03 1.03 1.03 0.80 0.72
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
23.76 23.76 23.76 23.76 23.85 23.88 23.95 23.95 23.95 23.95 24.18 24.26

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