Maral Overseas Ltd

₹ 64.8 0.00%
16 Aug 1:21 p.m.
About

Maral Overseas Limited, part of the highly diversified LNJ Bhilwara Group, is a vertically integrated textile manufacturing company producing Gray Yarn, Dyed Yarn, Knitted Fabric and Garments. [1]

Key Points

Business Segments
Cotton Yarn (44% in FY21 vs 50% in FY18): Product includes 100% cotton combed yarn in different count ranges. [1]
Knitted Fabric (31% in FY21 vs 24% in FY18): Products include fabrics like Single Jerseys, Ribs, Interlocks, Piques, Body Sized seamless fabrics for both underwear as well as Active Wear in 100% cotton and various blends.
Garments (17% in FY21 vs 16% in FY18): Products include garments for various categories like Activewear, Casual wear, and Sleepwear for Mens and Ladies in Conventional and Organic etc. [2][3][4]

  • Market Cap 269 Cr.
  • Current Price 64.8
  • High / Low 138 / 58.4
  • Stock P/E 5.55
  • Book Value 39.9
  • Dividend Yield 3.05 %
  • ROCE 30.4 %
  • ROE 48.0 %
  • Face Value 10.0

Pros

  • Stock is providing a good dividend yield of 3.06%.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 35.7% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 10.2% over past five years.
  • Promoters have pledged 48.0% 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.

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Quarterly Results

Figures in Rs. Crores

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
185.09 176.98 166.80 147.08 67.22 167.53 193.17 204.10 224.05 279.57 263.20 315.62 259.10
178.05 174.52 160.87 154.99 73.23 155.53 169.64 180.02 195.73 246.03 229.74 293.63 249.09
Operating Profit 7.04 2.46 5.93 -7.91 -6.01 12.00 23.53 24.08 28.32 33.54 33.46 21.99 10.01
OPM % 3.80% 1.39% 3.56% -5.38% -8.94% 7.16% 12.18% 11.80% 12.64% 12.00% 12.71% 6.97% 3.86%
4.89 5.69 2.62 4.13 1.17 1.57 1.25 3.83 3.82 5.39 7.55 5.54 4.98
Interest 4.06 4.68 3.59 3.38 4.01 3.84 4.56 4.15 4.42 5.81 5.28 5.52 5.96
Depreciation 6.18 6.18 5.97 6.09 6.04 6.00 6.00 5.95 5.93 6.22 6.73 7.23 7.24
Profit before tax 1.69 -2.71 -1.01 -13.25 -14.89 3.73 14.22 17.81 21.79 26.90 29.00 14.78 1.79
Tax % 35.50% 21.77% -43.56% 3.40% 0.00% 0.54% 17.79% 32.51% 6.29% 25.99% 28.86% 59.34% -11.73%
Net Profit 1.09 -2.12 -1.45 -12.80 -14.89 3.71 11.69 12.02 20.42 19.91 20.63 6.01 2.00
EPS in Rs 0.26 -0.51 -0.35 -3.08 -3.59 0.89 2.82 2.90 4.92 4.80 4.97 1.45 0.48

Profit & Loss

Figures in Rs. Crores

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
510 536 559 653 648 619 666 641 757 676 632 1,082 1,117
462 497 501 565 590 572 621 615 721 668 578 965 1,018
Operating Profit 48 38 58 89 59 47 46 25 36 8 54 117 99
OPM % 9% 7% 10% 14% 9% 8% 7% 4% 5% 1% 8% 11% 9%
7 5 8 -1 14 12 15 12 15 17 8 22 23
Interest 23 27 23 19 19 19 18 19 17 16 17 21 23
Depreciation 19 19 19 38 35 25 23 18 20 24 24 26 27
Profit before tax 13 -2 24 31 18 14 21 1 13 -15 21 92 72
Tax % 0% 0% 0% 5% 5% 25% 33% -65% 39% 0% 40% 28%
Net Profit 13 -2 24 29 17 10 14 1 8 -15 13 67 49
EPS in Rs 3.10 -0.47 5.83 7.10 4.02 2.46 3.33 0.24 1.96 -3.68 3.02 16.14 11.70
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 12%
Compounded Sales Growth
10 Years: 7%
5 Years: 10%
3 Years: 13%
TTM: 42%
Compounded Profit Growth
10 Years: 55%
5 Years: 36%
3 Years: 98%
TTM: 1%
Stock Price CAGR
10 Years: 21%
5 Years: 14%
3 Years: 55%
1 Year: -22%
Return on Equity
10 Years: 19%
5 Years: 14%
3 Years: 19%
Last Year: 48%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
72 72 72 72 72 68 42 42 42 42 42 42
Reserves -33 -37 -15 14 27 38 53 51 59 42 56 124
289 243 233 216 201 212 231 211 248 223 204 243
116 86 80 91 90 79 96 100 107 126 140 180
Total Liabilities 414 334 340 363 359 371 421 404 455 433 442 590
213 197 185 165 171 153 158 157 188 182 160 175
CWIP 1 1 2 1 3 11 3 13 3 0 2 3
Investments 0 0 0 0 0 0 1 0 0 0 1 1
200 136 153 197 184 207 260 232 264 250 279 411
Total Assets 414 334 340 363 359 371 421 404 455 433 442 590

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
12 76 38 61 85 25 44 68 31 56 38 34
-7 -5 -6 -24 -45 -14 -22 -26 -39 -11 -2 -31
-6 -71 -31 -38 -36 -15 -24 -41 11 -42 -43 -2
Net Cash Flow -0 -1 2 -1 4 -3 -2 1 3 4 -8 1

Ratios

Figures in Rs. Crores

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 40 26 24 20 24 28 45 47 46 41 56 37
Inventory Days 124 69 96 122 91 124 138 101 83 83 99 114
Days Payable 76 34 25 24 20 16 38 40 44 48 60 63
Cash Conversion Cycle 88 61 95 118 95 135 144 108 85 75 95 88
Working Capital Days 58 27 42 55 42 66 74 51 59 52 85 77
ROCE % 12% 9% 17% 19% 13% 11% 12% 6% 9% 0% 12% 30%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
74.95 74.95 74.95 74.95 74.95 74.95 74.95 74.95 74.95 74.95 74.95 74.95
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.09 0.32 0.31 0.17
0.01 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.01 0.00 0.00
25.03 25.02 25.03 25.03 25.04 25.04 25.04 25.04 24.96 24.73 24.74 24.88

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