Maithan Alloys Ltd

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)

  • Market Cap: 1,580 Cr.
  • Current Price: 542.80
  • 52 weeks High / Low 699.00 / 339.75
  • Book Value: 407.11
  • Stock P/E: 7.23
  • Dividend Yield: 1.11 %
  • ROCE: 32.59 %
  • ROE: 25.46 %
  • Sales Growth (3Yrs): 19.96 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Pros:
Company has reduced debt.
Company is virtually debt free.
Company has good consistent profit growth of 85.89% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 32.80%
Cons:

Peer Comparison Sector: Mining & Mineral products // Industry: Mining / Minerals / Metals

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
455 507 477 549 486 470
371 424 409 461 417 417
Operating Profit 84 83 68 88 68 53
OPM % 18% 16% 14% 16% 14% 11%
Other Income 6 6 6 7 6 5
Interest 1 1 2 1 1 1
Depreciation 4 4 4 4 4 4
Profit before tax 85 84 68 90 70 53
Tax % 23% 21% 21% 22% 25% 21%
Net Profit 65 65 54 70 52 42
EPS in Rs 22.44 22.61 18.69 24.10 17.92 14.40
Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

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
377 643 477 605 673 948 957 1,103 1,146 1,337 1,873 1,979 1,981
307 626 421 499 607 861 904 990 1,015 1,064 1,488 1,655 1,705
Operating Profit 70 17 56 106 66 86 53 114 132 273 386 325 277
OPM % 19% 3% 12% 18% 10% 9% 6% 10% 11% 20% 21% 16% 14%
Other Income 7 10 15 7 7 5 3 1 4 8 14 26 25
Interest 11 19 15 7 4 19 21 22 17 12 8 8 5
Depreciation 7 6 12 10 10 19 23 27 23 25 15 16 16
Profit before tax 60 1 44 96 60 54 12 66 96 244 376 327 281
Tax % 34% 88% 31% 25% 25% 19% 9% 21% 18% 26% 22% 22%
Net Profit 39 0 30 73 45 44 11 53 79 180 292 255 219
EPS in Rs 24.80 15.42 15.08 3.75 17.67 26.68 61.72 100.24 87.67 75.11
Dividend Payout % 5% 883% 3% 4% 6% 7% 26% 6% 7% 4% 3% 7%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:11.90%
5 Years:15.64%
3 Years:19.96%
TTM:5.64%
Compounded Profit Growth
10 Years:123.80%
5 Years:85.89%
3 Years:47.31%
TTM:-13.88%
Stock Price CAGR
10 Years:32.51%
5 Years:42.54%
3 Years:13.18%
1 Year:43.22%
Return on Equity
10 Years:27.63%
5 Years:29.95%
3 Years:32.80%
Last Year:25.46%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
13 10 10 15 15 15 15 15 29 29 29 29 29
Reserves 81 78 107 171 213 254 262 308 364 556 839 1,083 1,156
Borrowings 99 147 113 86 206 211 258 214 139 81 45 7 4
97 105 163 163 258 270 276 269 275 237 303 400 324
Total Liabilities 287 340 392 434 692 750 811 805 807 903 1,216 1,520 1,513
54 74 128 121 225 297 293 280 267 242 238 229 223
CWIP 44 73 12 66 65 1 5 1 0 0 0 0 0
Investments 11 0 0 12 15 38 38 36 36 70 343 628 599
176 194 252 235 387 415 474 488 504 591 636 663 691
Total Assets 287 340 392 434 692 750 811 805 807 903 1,216 1,520 1,513

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-7 4 48 86 48 42 -4 58 136 126 284 315
-50 -41 -6 -82 -121 -47 -22 -4 -11 -11 -280 -276
59 40 -14 -4 114 -39 26 -65 -101 -74 -49 -54
Net Cash Flow 2 3 28 -0 41 -45 1 -11 24 41 -44 -15

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 49% 9% 25% 41% 18% 16% 7% 17% 21% 43% 49% 33%
Debtor Days 36 22 47 27 47 48 54 68 63 62 47 47
Inventory Turnover 5.59 6.69 6.52 8.29 5.42 5.60 4.98 5.78 7.03 7.92 8.62 7.77