Macpower CNC Machines Ltd
₹ 225
0.94%
12 Aug
- close price
About
Macpower CNC Machines Limited is engaged in the manufacture of Computerized Numerically Controlled (CNC) machines and Lathe Machines.[1]
Key Points
- Market Cap ₹ 225 Cr.
- Current Price ₹ 225
- High / Low ₹ 280 / 163
- Stock P/E 16.1
- Book Value ₹ 84.7
- Dividend Yield 0.22 %
- ROCE 23.5 %
- ROE 16.3 %
- Face Value ₹ 10.0
Surain Singh Badagilwandi
He was a Gadar Party Hero. He was involved in Lahore Conspiracy Case. He was hanged on 17th November 1915.
Unsung Heroes →
Banchhanidhi Mohanty
He stirred people against the atrocity of the government though his poems. He demonstrated the evils of British rules, caste distinction, superstition and intoxication through his plays.
Unsung Heroes →
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
Cons
- Stock is trading at 2.66 times its book value
- Company has a low return on equity of 10.0% for 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: Engineering Industry: Engineering
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Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2011 | Mar 2012 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 57 | 55 | 42 | 64 | 64 | 68 | 105 | 140 | 82 | 113 | 190 | 197 | |
| 55 | 53 | 41 | 62 | 62 | 66 | 94 | 124 | 77 | 104 | 170 | 176 | |
| Operating Profit | 2 | 2 | 1 | 2 | 2 | 2 | 12 | 17 | 5 | 9 | 21 | 21 |
| OPM % | 4% | 4% | 2% | 3% | 3% | 2% | 11% | 12% | 6% | 8% | 11% | 11% |
| 0 | 0 | 0 | 1 | 0 | 0 | 1 | 3 | 1 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 3 |
| Profit before tax | 1 | 1 | 0 | 0 | 1 | 1 | 11 | 18 | 4 | 7 | 18 | 19 |
| Tax % | 36% | 29% | 34% | -26% | 35% | 20% | 35% | 30% | 30% | 11% | 30% | |
| Net Profit | 1 | 1 | 0 | 0 | 0 | 1 | 7 | 13 | 3 | 6 | 13 | 14 |
| EPS in Rs | 19.00 | 14.60 | 5.60 | 5.80 | 8.17 | 13.00 | 7.04 | 12.64 | 2.73 | 6.03 | 12.83 | 14.02 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 14% | 8% | 0% | 0% | 12% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 23% |
| 3 Years: | 11% |
| TTM: | 40% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 33% |
| 5 Years: | 76% |
| 3 Years: | 1% |
| TTM: | 102% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 23% |
| 1 Year: | 22% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 10% |
| Last Year: | 16% |
Balance Sheet
Figures in Rs. Crores
| Mar 2011 | Mar 2012 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 1 | 1 | 10 | 10 | 10 | 10 | 10 | |
| Reserves | 2 | 2 | 2 | 1 | 2 | 3 | 43 | 56 | 57 | 62 | 75 |
| 1 | 1 | 9 | 8 | 4 | 4 | 0 | 0 | 1 | 0 | 0 | |
| 15 | 12 | 15 | 17 | 18 | 25 | 41 | 43 | 31 | 62 | 55 | |
| Total Liabilities | 18 | 16 | 26 | 27 | 25 | 33 | 95 | 109 | 98 | 134 | 139 |
| 5 | 5 | 4 | 3 | 3 | 3 | 5 | 6 | 36 | 37 | 40 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 1 | 1 | 0 |
| Investments | 5 | 4 | 3 | 1 | 0 | 0 | 8 | 1 | 1 | 20 | 5 |
| 8 | 7 | 19 | 22 | 22 | 30 | 83 | 97 | 60 | 76 | 95 | |
| Total Assets | 18 | 16 | 26 | 27 | 25 | 33 | 95 | 109 | 98 | 134 | 139 |
Cash Flows
Figures in Rs. Crores
| Mar 2011 | Mar 2012 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | -0 | -0 | 6 | -2 | 10 | -11 | 2 | 23 | -7 | ||
| 0 | 1 | 1 | 1 | -1 | -10 | -3 | -1 | -20 | 10 | ||
| 0 | -0 | -2 | -2 | -4 | 39 | 2 | -1 | -1 | -1 | ||
| Net Cash Flow | 0 | 0 | -1 | 6 | -6 | 39 | -11 | -0 | 2 | 3 |
Ratios
Figures in Rs. Crores
| Mar 2011 | Mar 2012 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 5 | 3 | 14 | 13 | 19 | 56 | 14 | 23 | 15 | 12 | 11 |
| Inventory Days | 145 | 125 | 78 | 127 | 142 | 183 | 306 | 285 | 207 | ||
| Days Payable | 130 | 114 | 119 | 151 | 153 | 125 | 155 | 213 | 114 | ||
| Cash Conversion Cycle | 5 | 3 | 29 | 25 | -22 | 32 | 3 | 81 | 165 | 85 | 105 |
| Working Capital Days | -48 | -37 | 21 | 23 | -14 | 16 | -2 | 59 | 104 | 26 | 69 |
| ROCE % | 37% | 8% | 19% | 18% | 36% | 30% | 6% | 10% | 24% |
Products
The Co is a manufacturer of CNC machines in 9 different product categories with 27 versions and 60+ different models serving 27 industry segment with 8000+ installations to date. CNC is a machine in which pre-programmed software are used, combined with Engineering Designing to achieve desired cuts (shapes) based on end use of the product shaped.[1][2]
Market Presence
The Co has sales and service in 37 cities serviced through 107 qualified engineers and 10 business associates.[1]
Revenue Mix
Domestic: 95% in FY21 vs 83% in FY20
Tender: 5% in FY21 vs 15% in FY20
Export: Nil in FY21 vs 2% in FY20 [3][4]
Clients
The company has clients across the defense sector (DRDO, Indian Ordnance factory, etc), government PSU (ISRO, Railways), Govt. education sector (CIPET, Government tool room), Agricultural sectors (Mitter fasteners, Rinox Engineering, etc) and export sector (Hinkell in UK, Marla Makina in Turkey, etc).[5]
Manufacturing Capabilities
The Co has total capacity to manufacture 1200 machines per year. Further de-bottlenecking will expand the capacity to 1500 machines per annum. It has ultra modern Powder Coating plant with 11 tank pre-treatment process followed by conveyorised backing and powder coating booth. It has completed installation Of Solar Plant With Capacity Of 200 KW which will be used for Self-Reliance for Captive Power Consumption.[6][7]
Order Book
The Co dispatched 959 machines in the domestic market in FY21 and received advance of Rs 6 Cr towards supply of 723 machines as of March 2021.[8]
Bonus Share
The Co issued 1,96,160 bonus shares in the proportion of 2 equity shares for every 100 existing equity shares held during FY21.[9]
Mask making Machine
The company has manufactured HOTAIR SEAM SEALING MACHINE for the first me in India and Fastest fully automatic N-95 Mask making machine having capacity to produce 50,000 Masks/day. [10]
Migration to NSE Main board
The Co migrated from the NSE emerge platform to NSE Main board in August 2020. [9]
KMP
Mr. Nikesh Mehta, Whole time director was appointed Chief Executive officer (CEO) of the company in August 2020. [11]