Macpower CNC Machines Ltd

Macpower CNC Machines Ltd

₹ 919 -2.00%
21 Feb - close price
About

Macpower CNC Machines Limited is engaged in the manufacture of Computerized Numerically Controlled (CNC) machines and Lathe Machines.[1]

Key Points

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]

  • Market Cap 920 Cr.
  • Current Price 919
  • High / Low 1,021 / 207
  • Stock P/E 50.5
  • Book Value 105
  • Dividend Yield 0.16 %
  • ROCE 19.3 %
  • ROE 14.2 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • Stock is trading at 8.96 times its book value
  • Company has a low return on equity of 13.2% over last 3 years.
  • Working capital days have increased from 55.6 days to 81.2 days

* 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

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
34.64 49.99 34.52 52.75 48.05 55.16 41.08 53.48 53.01 54.32 40.46 63.10 66.14
31.66 45.84 31.01 46.39 42.67 49.57 37.02 47.54 47.42 49.26 37.09 54.06 56.05
Operating Profit 2.98 4.15 3.51 6.36 5.38 5.59 4.06 5.94 5.59 5.06 3.37 9.04 10.09
OPM % 8.60% 8.30% 10.17% 12.06% 11.20% 10.13% 9.88% 11.11% 10.55% 9.32% 8.33% 14.33% 15.26%
0.16 0.15 0.20 0.12 0.07 0.09 0.12 0.15 0.02 -0.03 0.26 0.20 0.50
Interest 0.03 0.03 0.02 0.05 0.05 0.03 0.03 0.10 0.06 0.04 0.04 0.04 0.12
Depreciation 0.65 0.62 0.66 0.69 0.72 0.72 0.75 0.84 0.86 0.90 0.91 0.95 1.07
Profit before tax 2.46 3.65 3.03 5.74 4.68 4.93 3.40 5.15 4.69 4.09 2.68 8.25 9.40
Tax % 49.59% 5.21% 55.12% 24.22% 25.43% 26.17% 25.00% 25.24% 25.37% 26.65% 24.25% 25.33% 25.21%
1.24 3.45 1.37 4.35 3.48 3.64 2.55 3.85 3.50 3.00 2.03 6.16 7.03
EPS in Rs 1.24 3.45 1.37 4.35 3.48 3.64 2.55 3.85 3.50 3.00 2.03 6.16 7.03
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
57 55 42 64 64 68 105 140 82 113 190 202 224
55 53 41 62 62 66 94 124 77 104 170 181 196
Operating Profit 2 2 1 2 2 2 12 17 5 9 20 21 28
OPM % 4% 4% 2% 3% 3% 2% 11% 12% 6% 8% 11% 10% 12%
0 0 0 1 0 0 1 3 1 0 1 0 1
Interest 0 0 0 1 1 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 1 3 3 3 4
Profit before tax 1 1 0 0 1 1 11 18 4 7 18 17 24
Tax % 36% 29% 34% -26% 35% 20% 35% 30% 30% 11% 30% 26%
1 1 0 0 0 1 7 13 3 6 13 13 18
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 12.88 18.22
Dividend Payout % 0% 0% 0% 0% 0% 0% 14% 8% 0% 0% 12% 12%
Compounded Sales Growth
10 Years: %
5 Years: 14%
3 Years: 35%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: 13%
3 Years: 68%
TTM: 35%
Stock Price CAGR
10 Years: %
5 Years: 47%
3 Years: 113%
1 Year: 219%
Return on Equity
10 Years: %
5 Years: 13%
3 Years: 13%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0 0 0 0 1 1 10 10 10 10 10 10 10
Reserves 2 2 2 1 2 3 43 56 57 62 75 87 95
1 1 9 8 4 4 0 0 1 0 0 0 1
15 12 15 17 18 25 41 43 31 62 58 46 61
Total Liabilities 18 16 26 27 25 33 95 109 98 134 143 143 167
5 5 4 3 3 3 5 6 36 37 40 44 44
CWIP 0 0 0 0 0 0 0 6 1 1 0 0 0
Investments 5 4 3 1 0 0 8 1 1 20 5 5 5
8 7 19 22 22 30 83 97 60 76 98 95 118
Total Assets 18 16 26 27 25 33 95 109 98 134 143 143 167

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0 -0 -0 6 -2 10 -11 2 23 -7 5
0 1 1 1 -1 -10 -3 -1 -20 10 -7
0 -0 -2 -2 -4 39 2 -1 -1 -1 -1
Net Cash Flow 0 0 -1 6 -6 39 -11 -0 2 3 -3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 5 3 14 13 19 56 14 23 15 12 11 23
Inventory Days 145 125 78 127 142 183 306 285 208 184
Days Payable 130 114 119 176 183 143 155 208 114 73
Cash Conversion Cycle 5 3 29 25 -22 7 -27 63 165 89 105 134
Working Capital Days -48 -37 21 23 -14 16 -2 59 104 26 60 81
ROCE % 37% 8% 19% 18% 36% 30% 6% 10% 23% 19%

Shareholding Pattern

Numbers in percentages

Shareholding pattern is currently not available for this company.

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