Maharashtra Scooters Ltd

Maharashtra Scooters is engaged in the business manufacturing dies, Jigs, fixtures and die casting components primarily for automobiles industry etc. The Company sells its products in India.(Source : 201903 Annual Report Page No: 59)

Pros:
Company is virtually debt free.
Stock is trading at 0.47 times its book value
Market value of investments Rs.11497.01 Cr. is more than the Market Cap Rs.5305.35 Cr.
Company has been maintaining a healthy dividend payout of 125.42%
Cons:
Tax rate seems low
Company has a low return on equity of 0.70% for last 3 years.
Earnings include an other income of Rs.81.88 Cr.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Finance // Industry: Finance & Investments

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Quarterly Results Figures in Rs. Crores

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
1 3 3 3 4 3 3 3 5 3 3 1
3 4 5 4 4 6 5 4 6 5 5 3
Operating Profit -1 -1 -1 -2 -1 -3 -2 -1 -1 -2 -2 -2
OPM % -101% -39% -47% -70% -26% -103% -58% -39% -24% -51% -45% -137%
Other Income 11 3 3 3 59 4 3 4 66 8 4 4
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 9 2 2 1 58 1 1 2 65 6 2 2
Tax % 0% 44% 18% 18% 0% 47% -27% 2% 0% 1% 67% 2%
Net Profit 9 1 1 1 58 0 1 2 65 6 1 2
EPS in Rs 7.89 1.02 1.21 0.93 50.71 0.34 1.18 1.78 56.51 4.81 0.60 1.48
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
3 2 4 6 7 7 4 7 9 8 82 95 13
16 15 17 19 21 10 9 12 15 14 20 20 19
Operating Profit -13 -13 -13 -13 -14 -3 -5 -5 -6 -6 61 75 -6
OPM % -498% -502% -308% -206% -209% -50% -116% -72% -72% -69% 75% 79% -48%
Other Income 26 24 20 35 8 53 53 63 108 21 1 1 82
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 3 1 1 1 2 2
Profit before tax 12 11 6 21 -6 49 48 55 101 14 61 74 74
Tax % 2% -0% -31% -3% -0% 0% 0% 0% 0% 9% 1% 2%
Net Profit 12 11 8 22 -6 49 48 55 101 13 61 73 72
EPS in Rs 9.27 8.60 6.44 17.55 0.00 39.34 37.40 41.81 82.27 11.43 53.16 63.70 63.40
Dividend Payout % 58% 58% 75% 47% -18% 47% 60% 63% 34% 262% 62% 52%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:43.87%
5 Years:86.76%
3 Years:119.58%
TTM:-0.78%
Compounded Profit Growth
10 Years:23.81%
5 Years:9.48%
3 Years:-9.84%
TTM:17.38%
Stock Price CAGR
10 Years:37.72%
5 Years:38.87%
3 Years:33.58%
1 Year:110.46%
Return on Equity
10 Years:2.08%
5 Years:1.38%
3 Years:0.70%
Last Year:0.74%

Balance Sheet Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
11 11 11 11 11 11 11 11 11 11 11 11
Reserves 184 188 189 199 191 213 227 241 301 6,541 8,214 11,312
Borrowings 0 0 0 0 0 0 0 0 0 0 0 0
24 23 23 28 37 58 62 66 25 20 18 400
Total Liabilities 220 223 223 238 240 283 300 318 337 6,573 8,244 11,723
11 10 9 8 7 7 7 4 7 7 13 15
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 199 191 198 214 206 223 260 271 280 6,511 8,196 11,680
9 21 16 16 27 52 33 43 50 55 35 29
Total Assets 220 223 223 238 240 283 300 318 337 6,573 8,244 11,723

Cash Flows Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-10 -13 -11 -12 -45 -8 -6 -10 -8 -33 1 1
14 23 13 18 61 33 15 41 81 35 40 45
-4 -8 -7 -7 -12 -1 -26 -33 -80 -2 -41 -45
Net Cash Flow 0 2 -6 -1 4 24 -17 -2 -6 0 0 -0

Ratios Figures in Rs. Crores

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 5% 4% 3% 10% 24% 21% 20% 20% 35% 0% 1% 1%
Debtor Days 23 72 79 76 87 138 114 137 99 95 15 14
Inventory Turnover 4.09 4.13 6.09 10.86 16.49 15.95 8.12 7.99 9.91 9.94 68.64 70.09