Maharashtra Seamless Ltd

Maharashtra Seamless Ltd

₹ 959 -0.87%
23 Feb - close price
About

Maharashtra Seamless Limited, incorporated in 1988, is engaged in the business of manufacturing of Steel Pipes and Tubes. It is also engaged in power generation. [1]

Key Points

Market Share
The co. has a market share of 55% in the seamless pipes segment and a market share of 18% in the API-certified, high-frequency ERW pipes segment. [1]

  • Market Cap 12,854 Cr.
  • Current Price 959
  • High / Low 1,099 / 300
  • Stock P/E 11.6
  • Book Value 386
  • Dividend Yield 0.52 %
  • ROCE 19.8 %
  • ROE 17.5 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 32.1% CAGR over last 5 years
  • Debtor days have improved from 54.6 to 41.0 days.

Cons

* 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: Steel Industry: Steel - Medium / Small

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
562 709 690 951 1,139 1,428 1,334 1,414 1,339 1,633 1,223 1,535 1,431
480 566 570 816 979 1,262 1,115 1,171 1,100 1,319 988 1,207 1,065
Operating Profit 83 142 120 135 160 167 220 243 239 314 235 328 366
OPM % 15% 20% 17% 14% 14% 12% 16% 17% 18% 19% 19% 21% 26%
23 -164 32 32 22 26 18 22 18 27 33 30 35
Interest 13 12 11 11 12 12 11 13 9 6 7 1 1
Depreciation 36 27 35 34 34 35 35 34 35 34 34 26 26
Profit before tax 56 -61 106 122 136 146 193 217 213 301 228 331 374
Tax % 5% 3% 10% 22% 24% -171% 28% 26% 25% -24% 9% 24% 26%
53 -60 96 95 104 396 140 161 160 373 207 251 276
EPS in Rs 3.94 -4.29 7.15 6.78 7.07 29.31 10.41 12.02 11.91 27.62 15.42 18.69 20.59
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,300 1,729 1,209 1,355 1,019 1,434 2,150 3,052 2,645 2,308 4,211 5,716 5,822
1,908 1,558 1,120 1,249 980 1,209 1,839 2,383 2,135 1,867 3,628 4,705 4,580
Operating Profit 392 172 89 105 38 225 311 669 509 441 583 1,011 1,242
OPM % 17% 10% 7% 8% 4% 16% 14% 22% 19% 19% 14% 18% 21%
76 70 64 74 57 76 99 -117 -197 -91 111 88 125
Interest 6 7 5 20 26 34 42 39 64 56 45 38 14
Depreciation 21 38 37 31 71 71 76 80 88 121 138 138 120
Profit before tax 441 197 111 129 -2 196 292 433 161 173 511 924 1,234
Tax % 30% 23% 13% 29% -1,521% 41% 31% 53% 29% 30% -35% 17%
308 152 102 118 -24 116 200 202 115 121 692 768 1,106
EPS in Rs 21.86 10.80 7.39 8.79 -1.81 9.21 15.73 17.48 6.26 7.32 51.62 57.07 82.32
Dividend Payout % 14% 28% 40% 28% -69% 27% 19% 17% 20% 24% 5% 9%
Compounded Sales Growth
10 Years: 13%
5 Years: 22%
3 Years: 29%
TTM: 6%
Compounded Profit Growth
10 Years: 20%
5 Years: 32%
3 Years: 67%
TTM: 29%
Stock Price CAGR
10 Years: 28%
5 Years: 33%
3 Years: 89%
1 Year: 207%
Return on Equity
10 Years: 8%
5 Years: 12%
3 Years: 15%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 35 35 34 34 34 34 34 34 34 34 34 67 67
Reserves 2,721 2,779 2,765 2,763 2,549 2,650 2,896 3,037 3,171 3,265 3,951 4,707 5,098
Preference Capital 0 0 0 138 63 63 0 0 0 0 0 0
87 151 138 779 602 640 626 1,059 1,145 922 709 244 0
379 276 352 451 499 532 483 666 889 1,135 695 841 905
Total Liabilities 3,222 3,241 3,288 4,026 3,684 3,856 4,039 4,795 5,239 5,356 5,388 5,859 6,071
1,329 1,260 1,231 1,472 1,121 1,095 1,235 1,173 2,364 2,268 2,135 2,016 1,978
CWIP 14 150 34 37 31 119 17 23 29 9 13 14 11
Investments 520 740 834 1,373 1,444 1,529 1,461 1,276 1,007 1,071 646 1,177 1,477
1,360 1,091 1,189 1,143 1,088 1,113 1,326 2,322 1,840 2,008 2,593 2,651 2,605
Total Assets 3,222 3,241 3,288 4,026 3,684 3,856 4,039 4,795 5,239 5,356 5,388 5,859 6,071

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
86 300 109 104 122 241 93 -183 748 447 -269 912
-96 -313 -59 -630 12 -107 13 -161 -730 -183 563 -386
22 3 -26 527 -141 -133 -95 387 7 -285 -286 -542
Net Cash Flow 12 -10 23 2 -6 2 10 44 25 -21 8 -17

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 57 67 102 80 96 79 66 59 50 75 48 41
Inventory Days 174 155 186 189 246 192 132 150 172 255 182 148
Days Payable 36 13 63 28 65 55 34 53 129 194 61 29
Cash Conversion Cycle 195 210 225 241 277 215 165 155 93 135 169 160
Working Capital Days 162 177 250 233 289 219 181 223 151 171 165 135
ROCE % 6% 2% 3% 0% 6% 9% 18% 11% 9% 12% 20%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
63.78% 63.73% 63.82% 64.90% 67.00% 67.08% 67.26% 67.64% 67.80% 67.80% 67.86% 67.86%
0.91% 0.91% 1.05% 1.00% 1.15% 1.28% 2.67% 3.08% 2.84% 5.96% 7.98% 10.50%
6.05% 5.12% 4.37% 3.14% 3.41% 3.69% 4.00% 3.76% 3.92% 4.18% 4.26% 4.19%
29.26% 30.23% 30.76% 30.96% 28.44% 27.95% 26.08% 25.52% 25.43% 22.05% 19.89% 17.44%
No. of Shareholders 28,05330,13429,47228,76027,64030,97536,51349,03347,26150,77154,87961,989

* 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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