Maithan Alloys Ltd

₹ 1,029 -5.27%
27 Jan - close price
About

Maithan Alloys is engaged in the business of manufacturing and exporting of all three bulk Ferro alloys- Ferro Manganese, Silico Manganese and Ferro Silicon. It is also engaged in the generation and supply of Wind Power and has a Captive Power Plant.(Source : 201903 Annual Report Page No: 88)

Key Points

Maithan is India’s largest Manganese Alloy Producer[1]

  • Market Cap 2,995 Cr.
  • Current Price 1,029
  • High / Low 1,596 / 777
  • Stock P/E 3.40
  • Book Value 798
  • Dividend Yield 0.58 %
  • ROCE 54.1 %
  • ROE 41.3 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 33.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.4%

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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
470 469 406 266 409 446 499 566 666 974 851 1,013 676
417 415 352 224 338 376 385 425 444 575 563 713 581
Operating Profit 53 54 54 41 71 70 114 141 223 399 288 300 95
OPM % 11% 12% 13% 16% 17% 16% 23% 25% 33% 41% 34% 30% 14%
5 28 30 8 4 6 6 10 7 4 13 -58 41
Interest 1 1 0 0 0 0 1 0 0 0 0 0 0
Depreciation 4 4 4 4 4 4 4 4 4 4 4 4 4
Profit before tax 53 77 79 45 71 72 115 147 225 400 298 238 132
Tax % 21% 17% 19% 22% 22% 23% 24% 24% 27% 24% 24% 25% 26%
Net Profit 42 64 64 35 55 55 88 112 165 306 225 177 97
EPS in Rs 14.38 21.95 21.98 12.07 18.86 19.04 30.08 38.48 56.68 104.95 77.35 60.95 33.45
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
605 636 854 811 882 1,146 1,337 1,873 1,979 1,816 1,615 3,052 3,514
497 568 790 772 811 1,015 1,057 1,489 1,654 1,581 1,318 1,995 2,432
Operating Profit 108 68 64 39 71 132 279 384 325 235 298 1,058 1,083
OPM % 18% 11% 7% 5% 8% 11% 21% 21% 16% 13% 18% 35% 31%
7 6 4 2 3 4 8 15 26 66 24 31 0
Interest 9 4 7 6 6 17 12 8 8 6 3 3 1
Depreciation 10 7 7 6 3 23 25 15 16 16 16 15 15
Profit before tax 96 62 54 29 64 96 250 376 327 279 302 1,070 1,067
Tax % 25% 24% 20% 22% 20% 17% 26% 22% 22% 21% 23% 25%
Net Profit 73 47 44 23 52 79 186 292 255 222 233 808 805
EPS in Rs 25.03 16.17 15.02 7.90 17.71 27.15 63.78 100.22 87.69 76.22 80.05 277.45 276.70
Dividend Payout % 4% 6% 7% 13% 6% 7% 4% 3% 7% 8% 8% 2%
Compounded Sales Growth
10 Years: 17%
5 Years: 18%
3 Years: 16%
TTM: 61%
Compounded Profit Growth
10 Years: 33%
5 Years: 34%
3 Years: 47%
TTM: 110%
Stock Price CAGR
10 Years: 34%
5 Years: 2%
3 Years: 22%
1 Year: 5%
Return on Equity
10 Years: 27%
5 Years: 28%
3 Years: 26%
Last Year: 41%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
15 15 15 15 15 29 29 29 29 29 29 29
Reserves 172 216 256 276 320 366 563 846 1,091 1,270 1,502 2,293
38 7 23 39 25 139 81 45 7 10 49 5
127 190 211 178 191 263 260 302 399 212 326 394
Total Liabilities 352 428 505 507 551 797 934 1,222 1,526 1,522 1,905 2,722
83 72 62 57 55 260 238 233 219 207 193 160
CWIP 1 0 0 0 1 0 0 0 0 1 0 0
Investments 55 72 126 128 125 47 84 362 649 26 815 849
213 285 317 321 369 490 612 626 657 1,287 897 1,713
Total Assets 352 428 505 507 551 797 934 1,222 1,526 1,522 1,905 2,722

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
92 68 8 -7 8 136 123 284 315 -45 116 128
-28 -11 -42 2 4 -11 -8 -280 -270 697 -760 -0
-68 -35 7 7 -21 -101 -74 -55 -54 -43 37 -62
Net Cash Flow -4 22 -26 2 -8 25 41 -50 -9 609 -607 66

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 27 49 49 46 78 63 62 47 47 56 99 91
Inventory Days 90 90 83 96 75 92 109 93 85 95 151 176
Days Payable 117 174 66 51 54 81 47 55 80 26 80 52
Cash Conversion Cycle 0 -35 66 92 98 74 123 85 52 125 170 216
Working Capital Days 36 28 36 56 70 42 60 49 38 87 122 134
ROCE % 47% 29% 23% 11% 20% 25% 43% 48% 32% 20% 20% 54%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.98 74.98
2.01 1.87 0.88 0.76 1.25 0.32 0.67 1.02 2.54 1.77 1.68 1.54
0.73 0.83 1.26 0.89 0.91 0.61 0.48 0.51 0.62 0.62 0.59 0.59
22.27 22.32 22.88 23.36 22.85 24.08 23.86 23.48 21.86 22.62 22.75 22.90

* 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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