Mangalore Chemicals & Fertilizers Ltd

₹ 78.5 -6.49%
27 Jan - close price
About

Mangalore Chemicals and Fertilizers Limited (MCF) is primarily engaged in the manufacture, purchase, and sale of fertilizers. It is a subsidiary of Zuari Fertilisers and Chemicals Limited, an Adventz Group. [1][2]

Key Points

Product Portfolio
Fertilizers: Mangala Urea, Mangala DAP, Mangala SSP, and others for crops. [1]
Plant Nutrition Products: Soil Conditioners, Organic Products, Micronutrients, Specialty Agri Products, Water Soluble Fertilizers, Crop Specific Soil Products, etc [2]
Plant Protection Chemicals: Insecticides, Fungicides, Herbicides, Mangala Brand PP Chemicals from preventing destruction and damage of crops. [3]
Other Products: Ammonium Bi Carbonate, Sulphonated N F, Sulphuric Acid [4]

  • Market Cap 930 Cr.
  • Current Price 78.5
  • High / Low 132 / 64.4
  • Stock P/E 37.0
  • Book Value 55.6
  • Dividend Yield 1.53 %
  • ROCE 10.7 %
  • ROE 14.3 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 36.3% CAGR over last 5 years
  • Debtor days have improved from 122 to 83.8 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 3.15% over past five years.
  • Company has a low return on equity of 13.1% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 63.1% of their holding.

* 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: Fertilizers Industry: Fertilizers

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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
731 676 563 530 689 327 598 687 728 762 719 1,021 283
657 620 533 482 601 304 552 632 663 696 695 958 302
Operating Profit 74 56 30 48 88 23 47 55 65 66 24 63 -19
OPM % 10% 8% 5% 9% 13% 7% 8% 8% 9% 9% 3% 6% -7%
7 7 5 7 8 7 4 6 6 5 8 6 6
Interest 32 24 17 26 22 17 11 11 13 11 16 19 24
Depreciation 11 11 12 11 11 12 16 13 13 13 12 13 13
Profit before tax 37 28 5 18 63 1 24 38 46 47 4 37 -49
Tax % 39% 35% -344% 38% 35% 25% 39% 36% 36% 34% 16% 38% 35%
Net Profit 23 18 24 11 41 1 15 24 29 31 3 23 -32
EPS in Rs 1.91 1.53 2.01 0.93 3.42 0.07 1.24 2.05 2.45 2.62 0.29 1.92 -2.72
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
2,520 3,707 2,780 3,310 2,577 2,969 2,479 2,689 3,074 2,711 2,144 2,896 2,785
2,365 3,511 2,605 3,090 2,413 2,857 2,306 2,531 2,882 2,504 1,936 2,680 2,651
Operating Profit 156 196 175 221 163 112 174 158 191 207 208 216 134
OPM % 6% 5% 6% 7% 6% 4% 7% 6% 6% 8% 10% 7% 5%
3 13 10 4 10 -213 8 39 9 20 24 19 25
Interest 19 77 87 102 126 115 116 84 111 111 77 49 70
Depreciation 29 29 29 29 29 32 35 37 39 45 50 51 51
Profit before tax 112 102 69 94 18 -248 30 75 50 70 106 135 39
Tax % 31% 33% 4% 24% -105% 3% 36% 19% 34% 8% 36% 35%
Net Profit 78 69 67 71 38 -240 19 61 33 65 67 88 25
EPS in Rs 6.54 5.83 5.62 5.98 3.17 -20.26 1.64 5.11 2.77 5.45 5.66 7.41 2.11
Dividend Payout % 18% 21% 21% 20% 19% 0% 31% 20% 36% 9% 18% 16%
Compounded Sales Growth
10 Years: -2%
5 Years: 3%
3 Years: -2%
TTM: 19%
Compounded Profit Growth
10 Years: 3%
5 Years: 36%
3 Years: 38%
TTM: -63%
Stock Price CAGR
10 Years: 8%
5 Years: 1%
3 Years: 32%
1 Year: -3%
Return on Equity
10 Years: 9%
5 Years: 12%
3 Years: 13%
Last Year: 14%

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 Sep 2022
119 119 119 119 119 119 119 119 119 119 119 119 119
Reserves 367 417 465 517 541 286 305 359 377 427 489 565 541
188 1,324 1,229 1,522 1,108 1,385 1,203 1,367 1,713 1,506 884 1,363 1,429
237 436 473 475 670 664 610 664 710 751 506 673 401
Total Liabilities 911 2,296 2,286 2,633 2,438 2,453 2,237 2,508 2,918 2,803 1,997 2,719 2,490
378 365 474 497 620 643 625 611 613 608 599 573 1,091
CWIP 13 127 12 129 9 13 13 33 35 46 78 317 10
Investments 0 0 200 200 200 0 0 0 0 0 0 0 0
520 1,804 1,601 1,807 1,609 1,797 1,599 1,864 2,270 2,149 1,320 1,829 1,389
Total Assets 911 2,296 2,286 2,633 2,438 2,453 2,237 2,508 2,918 2,803 1,997 2,719 2,490

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
-10 -816 324 -22 613 -136 337 33 -262 629 962 -87
-40 -134 -225 -154 -56 -53 -13 -40 -59 -65 -121 -187
59 1,046 -197 173 -550 180 -270 60 250 -393 -702 404
Net Cash Flow 10 95 -99 -3 8 -10 55 54 -71 171 139 130

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 6 33 24 19 33 60 183 161 186 195 87 84
Inventory Days 36 30 49 23 65 38 142 237 89 49 48 87
Days Payable 24 42 67 43 98 86 235 312 84 114 88 82
Cash Conversion Cycle 17 21 7 -1 0 12 90 86 190 130 47 89
Working Capital Days 47 112 151 150 128 134 135 145 175 143 62 81
ROCE % 22% 14% 9% 10% 7% 5% 9% 9% 8% 9% 10% 11%

Shareholding Pattern

Numbers in percentages

1 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
56.88 58.32 59.67 60.02 60.02 60.02 60.21 60.34 60.47 60.54 60.55 60.63
0.11 0.08 0.04 1.34 0.95 0.34 1.75 3.49 4.00 2.58 2.25 0.13
0.20 0.22 0.20 0.20 0.19 0.19 0.20 0.19 0.19 0.19 0.19 0.19
16.03 13.31 8.50 2.77 0.89 0.89 0.89 0.89 0.89 0.89 0.89 0.89
26.79 28.07 31.59 35.68 37.95 38.56 36.96 35.09 34.45 35.80 36.12 38.17

* 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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