Maan Aluminium Ltd

₹ 137 -2.00%

13 Dec - close price

maanaluminium.com BSE: 532906 NSE: MAANALU

About

Incorporated in 2003, Maan Aluminium
Ltd is in the business of manufacturing
& trading of aluminium profiles, anodizing
and fabrication of profiles, aluminium ingots, aluminium billets etc.^[1]

Key Points

Business Overview:^[1]# https://www.icra.in/Rationale/ShowRationaleReport/?Id=126824#page=2 #}
MAL manufactures and exports Aluminum extruded products. It has in-house anodising and fabrication facilities to manufacture value added products. Company is an exclusive distributor of Hindalco for trading of aluminium billet/ingot and wire rod in North India and South India (ex-Hydrabad). Company purchases ingots and billets from large domestic suppliers like Vedanta Aluminium Limited, National Aluminium Company and Hindalco Industries Limited. In addition to domestic purchases, the company imports a part of its raw material requirement.

Website BSE NSE - BE

Market Cap ₹ 741 Cr.
Current Price ₹ 137
High / Low ₹ 260 / 111
Stock P/E 31.9
Book Value ₹ 31.7
Dividend Yield 0.00 %
ROCE 24.9 %
ROE 22.3 %
Face Value ₹ 5.00

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Pros

Company has reduced debt.
Company has delivered good profit growth of 29.0% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 31.9%
Debtor days have improved from 44.1 to 34.2 days.
Company's median sales growth is 28.0% of last 10 years
Company's working capital requirements have reduced from 57.0 days to 44.7 days

Cons

Promoter holding has decreased over last 3 years: -6.45%

* 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: Non Ferrous Metals Industry: Aluminium and Aluminium Products

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	158.15	164.44	129.00	173.16	188.20	189.62	262.87	207.36	295.30	212.97	237.40	176.78	205.44
	150.75	157.74	117.79	160.96	169.50	170.03	242.07	193.95	284.24	202.11	228.13	171.82	197.83
Operating Profit	7.40	6.70	11.21	12.20	18.70	19.59	20.80	13.41	11.06	10.86	9.27	4.96	7.61
OPM %	4.68%	4.07%	8.69%	7.05%	9.94%	10.33%	7.91%	6.47%	3.75%	5.10%	3.90%	2.81%	3.70%
	1.00	0.76	1.89	1.06	1.34	1.26	1.50	2.16	1.55	1.52	2.50	1.39	1.10
Interest	1.24	1.13	1.08	1.00	1.34	0.99	1.62	0.88	0.81	1.19	0.80	0.62	0.54
Depreciation	0.84	0.90	0.90	0.98	1.06	1.11	1.32	1.12	1.16	1.18	1.22	1.27	1.25
Profit before tax	6.32	5.43	11.12	11.28	17.64	18.75	19.36	13.57	10.64	10.01	9.75	4.46	6.92
Tax %	25.79%	27.81%	26.53%	25.53%	25.74%	25.28%	25.31%	25.20%	25.94%	25.67%	25.33%	23.99%	25.87%
	4.69	3.92	8.17	8.40	13.10	14.01	14.46	10.15	7.88	7.44	7.28	3.39	5.13
EPS in Rs	0.87	0.73	1.51	1.56	2.43	2.59	2.68	1.88	1.46	1.38	1.35	0.63	0.95
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	92	103	110	190	349	447	652	524	403	572	814	953	833
	88	98	107	185	341	434	634	512	378	539	743	908	800
Operating Profit	4	5	4	5	8	13	18	12	24	33	71	45	33
OPM %	4%	5%	3%	3%	2%	3%	3%	2%	6%	6%	9%	5%	4%
	1	1	1	1	5	5	5	4	2	5	5	8	7
Interest	3	3	3	4	6	6	6	5	4	5	5	4	3
Depreciation	2	2	1	1	2	2	2	2	3	3	4	5	5
Profit before tax	1	0	0	1	5	10	14	9	20	30	67	44	31
Tax %	40%	-11%	35%	35%	36%	34%	36%	17%	26%	26%	25%	26%
	0	0	0	1	3	6	9	8	15	22	50	33	23
EPS in Rs	0.07	0.08	0.05	0.11	0.60	1.19	1.70	1.40	2.74	4.07	9.25	6.06	4.31
Dividend Payout %	0%	0%	0%	28%	10%	11%	7%	9%	6%	6%	8%	0%

Compounded Sales Growth
10 Years:	25%
5 Years:	8%
3 Years:	33%
TTM:	-13%

Compounded Profit Growth
10 Years:	54%
5 Years:	29%
3 Years:	30%
TTM:	-50%

Stock Price CAGR
10 Years:	53%
5 Years:	79%
3 Years:	65%
1 Year:	2%

Return on Equity
10 Years:	25%
5 Years:	29%
3 Years:	32%
Last Year:	22%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	3	3	3	3	3	7	7	7	7	14	14	27	27
Reserves	23	24	23	24	26	29	37	43	57	71	117	136	145
	15	19	20	55	68	40	53	31	73	66	56	33	41
	18	11	19	8	8	38	29	11	23	21	38	29	33
Total Liabilities	60	58	65	90	106	113	126	92	160	171	225	225	246
	22	21	20	20	21	23	27	29	37	45	51	54	53
CWIP	0	0	0	0	0	0	0	0	0	0	1	2	34
Investments	0	0	0	0	0	0	0	0	0	0	1	4	3
	37	36	45	69	84	91	98	63	123	126	173	165	156
Total Assets	60	58	65	90	106	113	126	92	160	171	225	225	246

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	2	-1	3	-31	-7	36	-4	30	-19	15	29	33
	-4	-1	-1	-1	1	1	-3	-2	-12	-7	-10	-6
	2	2	-2	32	6	-35	6	-28	38	-14	-19	-27
Net Cash Flow	0	-0	-0	1	-0	2	-1	-0	6	-6	-0	-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	63	44	59	82	62	56	46	27	57	46	52	34
Inventory Days	73	71	67	35	18	9	6	12	35	29	20	17
Days Payable	73	35	62	6	3	29	12	3	15	9	17	9
Cash Conversion Cycle	63	79	64	111	77	36	41	36	77	66	55	42
Working Capital Days	71	87	89	120	81	42	39	34	82	67	60	45
ROCE %	8%	8%	7%	7%	12%	18%	24%	16%	22%	24%	43%	25%

Shareholding Pattern

Numbers in percentages

14 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	65.32%	65.54%	66.04%	66.04%	66.04%	66.04%	65.38%	60.71%	60.71%	58.87%	58.87%	58.87%
	0.16%	0.02%	0.00%	0.23%	0.24%	0.48%	0.67%	0.18%	0.15%	0.27%	0.33%	0.41%
	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	34.53%	34.43%	33.96%	33.72%	33.72%	33.48%	33.94%	39.08%	39.13%	40.86%	40.81%	40.71%
No. of Shareholders	19,619	20,130	19,921	20,213	19,575	19,385	23,355	27,187	26,618	27,842	28,728	28,239

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	65.32%	65.32%	65.32%	65.32%	65.32%	65.54%	66.04%	58.87%	58.87%
	0.00%	0.06%	0.00%	0.00%	0.00%	0.02%	0.48%	0.27%	0.41%
	5.52%	0.75%	0.74%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%
	0.00%	0.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	29.16%	33.18%	33.94%	34.68%	34.68%	34.43%	33.48%	40.86%	40.71%
No. of Shareholders	11,035	13,763	11,177	10,948	12,378	20,130	19,385	27,842	28,239

* 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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