Maithan Alloys Ltd

₹ 931 -0.35%
25 Nov - close price
maithanalloys.com BSE: 590078 NSE : MAITHANALL
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

Increasing Production Capacity over the years - The company’s production has grown by 16% CAGR since 2007. It has set up two additional plants in Meghalaya and Vishakhapatnam and started its export business. It successfully delivered its first bulk vessel of 6000 tonnes to Qatar recently.

Website BSE NSE
  • Market Cap ₹ 2,711 Cr.
  • Current Price ₹ 931
  • High / Low ₹ 1,596 / 777
  • Stock P/E 2.85
  • Book Value ₹ 904
  • Dividend Yield 0.64 %
  • ROCE 54.9 %
  • ROE 42.0 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 1.03 times its book value
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 35.2% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.7%

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: Mining & Mineral products Industry: Mining / Minerals / Metals

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
470 469 406 266 409 446 499 566 666 923 837 975 690
417 415 352 224 338 376 389 425 445 529 526 631 584
Operating Profit 53 54 54 41 71 70 111 141 222 394 311 345 106
OPM % 11% 12% 13% 16% 17% 16% 22% 25% 33% 43% 37% 35% 15%
5 28 30 8 4 6 6 10 7 5 11 -60 39
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 5 5 5
Profit before tax 53 77 79 45 71 72 112 147 224 394 317 280 139
Tax % 21% 17% 19% 22% 22% 22% 25% 24% 27% 24% 24% 22% 22%
Net Profit 42 64 64 35 55 55 84 112 164 300 242 219 109
EPS in Rs 14.40 21.95 21.99 12.08 18.87 19.05 29.30 38.50 56.31 103.09 83.11 75.21 37.51
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
605 673 948 957 1,103 1,146 1,337 1,873 1,979 1,816 1,615 2,987 3,425
499 607 861 904 989 1,015 1,064 1,489 1,654 1,581 1,321 1,912 2,270
Operating Profit 106 66 86 53 114 132 273 384 325 235 294 1,075 1,156
OPM % 18% 10% 9% 6% 10% 11% 20% 21% 16% 13% 18% 36% 34%
7 7 5 3 1 4 8 15 26 66 24 27 -6
Interest 7 4 19 21 22 17 12 8 8 6 3 3 1
Depreciation 10 10 19 23 27 23 25 15 16 16 16 17 19
Profit before tax 96 60 54 12 66 96 244 376 327 279 299 1,082 1,130
Tax % 25% 25% 19% 9% 21% 18% 26% 22% 22% 20% 23% 24%
Net Profit 73 45 44 11 53 79 180 292 255 222 230 818 870
EPS in Rs 24.98 15.59 15.25 3.91 18.08 27.09 61.72 100.24 87.67 76.27 79.29 281.01 298.92
Dividend Payout % 4% 6% 7% 26% 6% 7% 4% 3% 7% 8% 8% 2%
Compounded Sales Growth
10 Years: 16%
5 Years: 17%
3 Years: 15%
TTM: 57%
Compounded Profit Growth
10 Years: 34%
5 Years: 35%
3 Years: 47%
TTM: 128%
Stock Price CAGR
10 Years: 32%
5 Years: 5%
3 Years: 25%
1 Year: -4%
Return on Equity
10 Years: 27%
5 Years: 28%
3 Years: 27%
Last Year: 42%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
15 15 15 15 15 29 29 29 29 29 29 29 29
Reserves 171 213 254 262 308 364 556 839 1,083 1,263 1,492 2,294 2,604
86 206 211 258 214 139 81 45 7 10 49 5 6
162 258 255 254 246 266 236 303 399 213 328 422 521
Total Liabilities 434 691 735 788 783 799 902 1,215 1,519 1,516 1,898 2,751 3,159
121 225 297 293 280 267 242 238 229 217 203 276 270
CWIP 66 65 1 5 1 0 0 0 0 1 0 0 2
Investments 12 15 38 38 36 36 70 343 628 6 795 824 839
235 386 399 452 466 496 590 635 662 1,292 900 1,651 2,047
Total Assets 434 691 735 788 783 799 902 1,215 1,519 1,516 1,898 2,751 3,159

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
86 48 42 -4 58 136 126 284 315 -45 117 237
-82 -121 -47 -22 -4 -11 -11 -280 -276 696 -761 -105
-4 114 -39 26 -65 -101 -74 -49 -54 -43 37 -62
Net Cash Flow -0 41 -45 1 -11 24 41 -44 -15 609 -607 70

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 47 48 54 68 63 62 47 47 56 99 84
Inventory Days 90 146 118 137 109 92 109 93 85 95 151 214
Days Payable 118 194 83 74 77 81 40 55 80 26 80 63
Cash Conversion Cycle 0 -1 83 117 99 74 130 85 52 125 170 236
Working Capital Days 36 42 39 49 49 44 59 49 38 87 122 132
ROCE % 41% 18% 16% 7% 17% 21% 43% 49% 33% 20% 20% 55%

Shareholding Pattern

Numbers in percentages

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.98
1.95 2.01 1.87 0.88 0.76 1.25 0.32 0.67 1.02 2.54 1.77 1.68
0.64 0.73 0.83 1.26 0.89 0.91 0.61 0.48 0.51 0.62 0.62 0.59
22.43 22.27 22.32 22.88 23.36 22.85 24.08 23.86 23.48 21.86 22.62 22.75

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