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: 1,502 Cr.
  • Current Price: 515.90
  • 52 weeks High / Low 624.00 / 289.05
  • Book Value: 443.88
  • Stock P/E: 7.33
  • Dividend Yield: 1.16 %
  • ROCE: 19.73 %
  • ROE: 15.41 %
  • Sales Growth (3Yrs): 10.76 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Edit ratios
Pros:
Company is virtually debt free.
Stock is trading at 1.16 times its book value
Company has a good return on equity (ROE) track record: 3 Years ROE 25.02%
Cons:
The company has delivered a poor growth of 10.48% over past five years.
Earnings include an other income of Rs.70.85 Cr.

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 Dec 2019 Mar 2020 Jun 2020
455 507 477 549 486 470 469 406 266
371 424 409 461 417 417 415 352 224
Operating Profit 84 83 68 88 68 53 54 54 41
OPM % 18% 16% 14% 16% 14% 11% 12% 13% 16%
Other Income 6 6 6 7 6 5 28 30 8
Interest 1 1 2 1 1 1 1 0 0
Depreciation 4 4 4 4 4 4 4 4 4
Profit before tax 85 84 68 90 70 53 77 79 45
Tax % 23% 21% 21% 22% 25% 21% 17% 19% 22%
Net Profit 65 65 54 70 52 42 64 64 35
EPS in Rs 22.44 22.61 18.53 24.10 17.92 14.40 21.95 21.99 12.08
Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
643 477 605 673 948 957 1,103 1,146 1,337 1,873 1,979 1,816 1,611
626 421 499 607 861 904 990 1,015 1,064 1,488 1,655 1,581 1,409
Operating Profit 17 56 106 66 86 53 114 132 273 386 325 235 202
OPM % 3% 12% 18% 10% 9% 6% 10% 11% 20% 21% 16% 13% 13%
Other Income 10 15 7 7 5 3 1 4 8 14 26 66 71
Interest 19 15 7 4 19 21 22 17 12 8 8 6 3
Depreciation 6 12 10 10 19 23 27 23 25 15 16 16 16
Profit before tax 1 44 96 60 54 12 66 96 244 376 327 279 254
Tax % 88% 31% 25% 25% 19% 9% 21% 18% 26% 22% 22% 20%
Net Profit 0 30 73 45 44 11 53 79 180 292 255 222 205
EPS in Rs 24.80 15.42 15.08 3.75 17.67 26.68 61.72 100.24 87.68 76.27 70.42
Dividend Payout % 883% 3% 4% 6% 7% 26% 6% 7% 4% 3% 7% 8%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:14.31%
5 Years:10.48%
3 Years:10.76%
TTM:-20.20%
Compounded Profit Growth
10 Years:19.91%
5 Years:27.42%
3 Years:1.26%
TTM:-15.31%
Stock Price CAGR
10 Years:20.46%
5 Years:46.01%
3 Years:3.03%
1 Year:5.46%
Return on Equity
10 Years:24.59%
5 Years:26.22%
3 Years:25.02%
Last Year:15.41%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Corp Actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
10 10 15 15 15 15 15 29 29 29 29 29
Reserves 78 107 171 213 254 262 308 364 556 839 1,083 1,263
Borrowings 147 113 86 206 211 258 214 139 81 45 7 10
105 162 162 258 255 254 246 266 236 303 399 213
Total Liabilities 340 392 434 691 735 788 783 799 902 1,215 1,519 1,516
74 128 121 225 297 293 280 267 242 238 229 217
CWIP 73 12 66 65 1 5 1 0 0 0 0 1
Investments 0 0 12 15 38 38 36 36 70 343 628 6
193 252 235 386 399 452 466 496 590 635 662 1,292
Total Assets 340 392 434 691 735 788 783 799 902 1,215 1,519 1,516

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
4 48 86 48 42 -4 58 136 126 284 315 -45
-41 -6 -82 -121 -47 -22 -4 -11 -11 -280 -276 696
40 -14 -4 114 -39 26 -65 -101 -74 -49 -54 -43
Net Cash Flow 3 28 -0 41 -45 1 -11 24 41 -44 -15 609

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 9% 25% 41% 18% 16% 7% 17% 21% 43% 49% 33% 20%
Debtor Days 22 47 27 47 48 54 68 63 62 47 47 56
Inventory Turnover 5.96 5.26 6.30 4.49 4.68 4.31 4.69 5.59 5.37 6.14 5.89 5.31

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
69.87 69.94 70.57 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99
0.46 0.80 2.12 2.75 2.96 2.96 2.72 2.37 1.70 1.95 2.01 1.87
0.24 0.46 0.51 0.44 0.13 0.05 0.30 0.56 0.57 0.64 0.73 0.83
29.43 28.80 26.80 21.82 21.92 22.01 22.00 22.08 22.74 22.43 22.27 22.32