Man Industries (India) Ltd

Man Industries (India) is engaged in the business of manufacturing, processing and trading of submerged arc welded pipes & steel products.

  • Market Cap: 313.19 Cr.
  • Current Price: 54.90
  • 52 weeks High / Low 73.76 / 34.40
  • Book Value: 123.78
  • Stock P/E: 9.68
  • Dividend Yield: 2.73 %
  • ROCE: 15.64 %
  • ROE: 8.69 %
  • Sales Growth (3Yrs): 16.87 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 5.00
Pros:
Company has reduced debt.
Stock is trading at 0.44 times its book value
Company has been maintaining a healthy dividend payout of 17.84%
Promoter holding has increased by 1.78% over last quarter.
Cons:
Company has low interest coverage ratio.
Company has a low return on equity of 8.38% for last 3 years.
Contingent liabilities of Rs.645.14 Cr.
Promoters have pledged 41.11% of their holding.
Earnings include an other income of Rs.64.62 Cr.
Company's cost of borrowing seems high
Promoter holding has decreased by -5.94% over last 3 years.

Peer Comparison Sector: Steel // Industry: Steel - Large

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
248 168 161 315 364 633 803 515 271 239 306
222 153 151 298 351 570 719 494 260 216 279
Operating Profit 26 15 10 17 14 62 84 22 11 23 27
OPM % 11% 9% 6% 5% 4% 10% 10% 4% 4% 10% 9%
Other Income 6 4 9 6 12 4 -29 27 18 6 13
Interest 9 9 9 12 13 18 18 16 14 13 14
Depreciation 10 8 8 8 8 11 12 11 12 12 12
Profit before tax 13 2 2 3 5 38 25 22 4 4 14
Tax % 75% 29% 36% 32% 20% 33% 40% 31% 8% 14% 30%
Net Profit 3 2 1 2 4 25 15 15 3 4 10
EPS in Rs 0.53 0.30 0.22 0.37 0.66 4.38 2.64 2.69 0.58 0.64 1.76
Notes Notes Notes Notes Notes 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
1,513 1,859 1,474 1,604 1,751 1,514 1,005 1,364 1,392 1,060 1,608 2,222 1,331
1,341 1,736 1,353 1,529 1,573 1,323 950 1,250 1,272 1,012 1,483 2,043 1,248
Operating Profit 172 123 121 75 177 190 55 114 120 48 124 179 83
OPM % 11% 7% 8% 5% 10% 13% 5% 8% 9% 5% 8% 8% 6%
Other Income 0 25 32 87 11 -3 31 35 67 72 53 21 65
Interest 33 67 37 34 27 44 42 46 56 36 43 65 56
Depreciation 28 35 37 41 41 40 32 43 37 40 39 46 47
Profit before tax 111 46 79 86 120 104 12 60 93 44 95 88 44
Tax % 35% 53% 43% 6% 41% 40% 27% 17% 7% 24% 33% 33%
Net Profit 72 21 45 84 71 62 9 50 86 34 64 59 32
EPS in Rs 6.66 1.84 8.12 14.83 12.53 10.06 1.41 8.52 15.14 5.88 11.15 10.30 5.67
Dividend Payout % 11% 38% 21% 13% 16% 19% 63% 17% 10% 26% 13% 15%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:1.80%
5 Years:17.19%
3 Years:16.87%
TTM:38.21%
Compounded Profit Growth
10 Years:10.91%
5 Years:46.57%
3 Years:-12.10%
TTM:-10.73%
Stock Price CAGR
10 Years:0.30%
5 Years:-0.88%
3 Years:4.47%
1 Year:-14.12%
Return on Equity
10 Years:10.53%
5 Years:9.87%
3 Years:8.38%
Last Year:8.69%

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
27 27 27 28 28 30 29 29 29 29 29 29 29
Reserves 340 359 390 467 584 625 632 454 538 570 624 673 678
Borrowings 310 506 502 1,333 592 536 438 495 353 447 368 244 196
631 976 784 315 485 399 475 534 328 313 679 648 818
Total Liabilities 1,307 1,867 1,703 2,143 1,689 1,590 1,574 1,511 1,248 1,358 1,699 1,594 1,721
333 494 462 435 434 428 405 416 349 346 355 396 375
CWIP 105 13 9 0 1 3 2 3 19 5 63 3 3
Investments 32 6 8 159 237 15 20 3 104 104 103 102 102
838 1,353 1,224 1,549 1,017 1,144 1,148 1,089 776 904 1,178 1,093 1,240
Total Assets 1,307 1,867 1,703 2,143 1,689 1,590 1,574 1,511 1,248 1,358 1,699 1,594 1,721

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
194 60 164 -358 690 -443 247 64 205 -75 132 136
-111 -96 57 -67 -129 194 -29 -61 2 21 -105 -17
19 111 -54 299 -687 310 -208 -35 -188 41 -115 -138
Net Cash Flow 102 75 167 -126 -126 61 10 -31 19 -13 -88 -19

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 % 14% 13% 9% 10% 17% 5% 10% 16% 8% 14% 16%
Debtor Days 52 102 39 81 68 80 109 130 70 117 87 91
Inventory Turnover 4.96 3.37 2.59 2.90 3.44 3.64 7.04 6.96 8.97 6.10 7.00