Macrotech Developers Ltd

Macrotech Developers Ltd

₹ 1,250 1.24%
24 Apr 3:24 p.m.
About

Macrotech Developers Ltd is primarily engaged in the business of real estate development. It is among the largest real estate developers in India with a presence in MMR (Mumbai Metropolitan Region) and Pune markets.[1]

Key Points

About
MDL is one of the largest real estate developers in India. Established in 1980s, it has developed properties over 85 msf mostly in the MMR market. As of FY23, MDL has 33 operating projects and has a presence across luxury, premium, mid income & affordable segment with ~60% revenue is from affordable & mid-income segment.[1]

  • Market Cap 1,24,352 Cr.
  • Current Price 1,250
  • High / Low 1,278 / 445
  • Stock P/E 81.0
  • Book Value 133
  • Dividend Yield 0.08 %
  • ROCE 8.03 %
  • ROE -0.83 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 9.43 times its book value
  • Promoter holding has decreased over last quarter: -2.76%
  • The company has delivered a poor sales growth of 3.25% over past five years.
  • Company has a low return on equity of 5.46% over last 3 years.
  • Company might be capitalizing the interest cost

* 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: Construction Industry: Construction

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
1,486 3,061 1,575 2,060 1,398 3,320 2,709 1,734 1,677 3,105 1,408 1,731 2,794
1,075 2,107 1,243 1,623 1,067 2,462 2,192 1,312 1,321 2,415 1,131 1,334 1,984
Operating Profit 411 953 332 437 330 858 517 422 357 690 278 397 810
OPM % 28% 31% 21% 21% 24% 26% 19% 24% 21% 22% 20% 23% 29%
34 17 86 -43 38 10 14 -1,170 166 68 93 23 -192
Interest 202 237 157 67 70 101 123 133 135 136 154 140 130
Depreciation 18 17 14 14 14 14 21 32 34 38 41 46 42
Profit before tax 224 716 247 314 284 754 387 -913 354 584 176 234 445
Tax % 15% 43% 26% 24% 27% 33% 26% -3% -8% -24% 23% 25% 30%
190 412 182 238 209 504 286 -939 383 726 135 176 313
EPS in Rs 2.40 5.20 2.04 2.67 2.17 5.24 2.97 -9.75 3.98 7.53 1.40 1.83 3.25
Raw PDF
Upcoming result date: today

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
6,795 5,865 7,443 9,516 8,115 4,300 8,353 8,735 9,038
5,137 4,741 6,071 7,105 6,205 3,310 6,388 6,893 6,864
Operating Profit 1,658 1,124 1,372 2,411 1,909 990 1,966 1,842 2,174
OPM % 24% 19% 18% 25% 24% 23% 24% 21% 24%
26 -15 551 18 -225 -314 91 -922 -7
Interest 201 169 697 414 786 823 402 601 560
Depreciation 376 419 385 151 243 57 56 124 167
Profit before tax 1,107 521 841 1,864 655 -204 1,599 194 1,439
Tax % 38% 38% 38% 35% 34% 9% 29% -57%
688 321 521 1,212 433 -186 1,134 305 1,350
EPS in Rs 15.92 7.09 6.58 15.31 5.47 -2.35 11.77 3.17 14.01
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 32%
Compounded Sales Growth
10 Years: %
5 Years: 3%
3 Years: 2%
TTM: -4%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 13%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 67%
1 Year: 176%
Return on Equity
10 Years: %
5 Years: 10%
3 Years: 5%
Last Year: -1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 108 113 396 396 396 396 482 482 964
Reserves 2,912 3,729 4,626 3,225 3,941 3,758 11,695 12,087 11,864
Preference Capital 500 0 0 0 0 0 0 0
11,331 12,553 15,860 16,999 16,897 14,815 10,832 10,590 10,631
11,010 12,155 9,283 15,000 13,205 12,998 14,553 17,181 19,077
Total Liabilities 25,361 28,551 30,165 35,620 34,439 31,968 37,562 40,340 42,537
1,212 1,105 1,863 1,491 1,685 1,627 1,712 1,955 1,955
CWIP 289 100 6 6 6 6 0 0 0
Investments 1,679 2,587 925 982 1,058 1,059 612 380 709
22,181 24,758 27,371 33,141 31,690 29,276 35,238 38,005 39,874
Total Assets 25,361 28,551 30,165 35,620 34,439 31,968 37,562 40,340 42,537

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
2,000 3,456 1,961 1,108
-147 496 -1,624 1,690
-1,985 -3,873 -202 -1,857
Net Cash Flow -131 79 134 940

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 25 20 35 16 33 49 22 30
Inventory Days
Days Payable
Cash Conversion Cycle 25 20 35 16 33 49 22 30
Working Capital Days 1,041 663 803 566 697 1,180 720 731
ROCE % 4% 8% 11% 9% 5% 10% 8%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
88.50% 88.50% 82.22% 82.22% 82.20% 82.20% 75.00% 74.99% 74.96% 74.93% 74.92% 72.16%
8.68% 8.73% 15.27% 14.91% 14.54% 13.93% 19.42% 18.98% 19.83% 20.52% 21.09% 23.79%
1.03% 1.07% 1.18% 1.45% 1.86% 2.54% 3.48% 3.68% 3.81% 3.50% 3.21% 3.32%
1.79% 1.70% 1.33% 1.43% 1.40% 1.34% 2.10% 2.33% 1.40% 1.05% 0.78% 0.73%
No. of Shareholders 38,91038,89645,84350,65253,30453,34351,05853,43155,20252,59052,80560,812

* 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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Documents

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