Maithan Alloys Ltd

Maithan Alloys Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Maithan Alloys Ltd

₹ 1,228 4.86%
25 Apr 2:42 p.m.
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

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

Website BSE NSE
  • Market Cap ₹ 3,575 Cr.
  • Current Price ₹ 1,228
  • High / Low ₹ 1,336 / 830
  • Stock P/E 11.7
  • Book Value ₹ 999
  • Dividend Yield 0.47 %
  • ROCE 25.6 %
  • ROE 20.0 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Stock is trading at 1.19 times its book value
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.4%
  • Debtor days have improved from 78.8 to 53.6 days.
  • Company's working capital requirements have reduced from 106 days to 64.0 days

Cons

  • Earnings include an other income of Rs.226 Cr.

* 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: Ferro Alloys Industry: Mining / Minerals / Metals

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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
446 499 566 666 923 837 975 690 685 535 404 444 448
376 389 425 445 529 526 631 584 639 445 363 411 413
Operating Profit 70 111 141 222 394 311 345 106 46 90 41 32 35
OPM % 16% 22% 25% 33% 43% 37% 35% 15% 7% 17% 10% 7% 8%
6 6 10 7 5 11 -60 39 51 43 44 60 79
Interest 0 1 0 0 0 0 0 0 0 1 0 0 0
Depreciation 4 4 4 4 4 5 5 5 5 5 5 5 5
Profit before tax 72 112 147 224 394 317 280 139 92 126 80 87 108
Tax % 22% 25% 24% 27% 24% 24% 22% 22% 21% 22% 25% 28% 21%
55 84 112 164 300 242 219 109 73 98 60 62 85
EPS in Rs 19.05 29.30 38.50 56.31 103.09 83.11 75.21 37.51 25.00 33.71 20.47 21.28 29.31
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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
673 948 957 1,103 1,146 1,337 1,873 1,979 1,816 1,615 2,989 2,883 1,830
607 861 904 989 1,015 1,064 1,489 1,654 1,581 1,321 1,913 2,293 1,632
Operating Profit 66 86 53 114 132 273 384 325 235 294 1,075 589 198
OPM % 10% 9% 6% 10% 11% 20% 21% 16% 13% 18% 36% 20% 11%
7 5 3 1 4 8 15 26 66 24 27 72 226
Interest 4 19 21 22 17 12 8 8 6 3 3 5 2
Depreciation 10 19 23 27 23 25 15 16 16 16 17 20 21
Profit before tax 60 54 12 66 96 244 376 327 279 299 1,082 637 401
Tax % 25% 19% 9% 21% 18% 26% 22% 22% 20% 23% 24% 22%
45 44 11 53 79 180 292 255 222 230 818 499 305
EPS in Rs 15.59 15.25 3.91 18.08 27.09 61.72 100.24 87.67 76.27 79.29 281.01 171.43 104.77
Dividend Payout % 6% 7% 26% 6% 7% 4% 3% 7% 8% 8% 2% 4%
Compounded Sales Growth
10 Years: 12%
5 Years: 9%
3 Years: 17%
TTM: -43%
Compounded Profit Growth
10 Years: 28%
5 Years: 12%
3 Years: 40%
TTM: -58%
Stock Price CAGR
10 Years: 41%
5 Years: 17%
3 Years: 16%
1 Year: 33%
Return on Equity
10 Years: 25%
5 Years: 25%
3 Years: 26%
Last Year: 20%

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 15 15 15 15 29 29 29 29 29 29 29 29 29
Reserves 216 254 262 308 364 556 839 1,083 1,263 1,492 2,294 2,775 2,880
Preference Capital 0 0 0 0 0 0 0 0 0 0 0 8
206 211 258 214 139 81 45 7 10 49 5 12 14
254 255 254 246 266 236 303 399 213 328 422 324 354
Total Liabilities 691 735 788 783 799 902 1,215 1,519 1,516 1,898 2,751 3,140 3,276
225 297 293 280 267 242 238 229 217 203 276 267 258
CWIP 65 1 5 1 0 0 0 0 1 0 0 2 14
Investments 15 38 38 36 36 70 343 628 6 795 824 870 1,395
386 399 452 466 496 590 635 662 1,292 900 1,651 2,000 1,609
Total Assets 691 735 788 783 799 902 1,215 1,519 1,516 1,898 2,751 3,140 3,276

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
48 42 -4 58 136 126 284 315 -45 117 237 968
-121 -47 -22 -4 -11 -11 -280 -276 696 -761 -105 -962
114 -39 26 -65 -101 -74 -49 -54 -43 37 -62 -5
Net Cash Flow 41 -45 1 -11 24 41 -44 -15 609 -607 70 1

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 47 48 54 68 63 62 47 47 56 99 84 54
Inventory Days 146 118 137 109 92 109 93 85 95 151 214 81
Days Payable 194 83 74 77 81 40 55 80 26 80 63 40
Cash Conversion Cycle -1 83 117 99 74 130 85 52 125 170 236 94
Working Capital Days 42 39 49 49 44 59 49 38 87 122 132 64
ROCE % 17% 16% 7% 17% 21% 42% 49% 33% 20% 20% 56% 26%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.99% 74.99% 74.99% 74.99% 74.99% 74.98% 74.98% 74.98% 74.98% 74.98% 74.98% 74.99%
0.32% 0.67% 1.02% 2.54% 1.77% 1.68% 1.54% 1.52% 1.82% 1.88% 2.14% 1.87%
0.61% 0.48% 0.51% 0.62% 0.62% 0.59% 0.59% 0.55% 0.56% 0.52% 0.44% 0.15%
24.08% 23.86% 23.48% 21.86% 22.62% 22.75% 22.90% 22.96% 22.62% 22.63% 22.42% 23.00%
No. of Shareholders 25,34533,10933,64034,21735,17436,04936,21834,86133,39832,41233,21036,475

* 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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Documents

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Concalls

  • Sep 2023
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