Madhya Bharat Agro Products Ltd

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Madhya Bharat Agro Products Ltd

₹ 235 -0.28%
25 Apr 9:54 a.m.
Company website NSE : MBAPL
About

Madhya Bharat Agro Products Ltd, part of Ostwal Group, is engaged in the business of manufacturing fertiliser and chemical products. [1]

Key Points

Products
The Co manufactures different kinds of fertilisers such as SSP, BRP, Water Soluble Fertilizers, Phosphate Rich Organic Manure among others. It is also engaged in production of Sulphur Bentonite and some value-added chemicals like oleum etc. The Co markets its products under the brand name “Annadata”. [1][2]

Website NSE
  • Market Cap ₹ 2,058 Cr.
  • Current Price ₹ 235
  • High / Low ₹ 348 / 222
  • Stock P/E 43.1
  • Book Value ₹ 39.8
  • Dividend Yield 0.11 %
  • ROCE 37.8 %
  • ROE 46.5 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 89.3% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 34.5%
  • Company's median sales growth is 20.4% of last 10 years

Cons

  • Company might be capitalizing the interest cost
  • Debtor days have increased from 61.0 to 74.1 days.

* 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

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
31.83 49.60 67.32 86.40 191.90 145.87 213.03 248.90 286.29 233.83 149.03 278.46 243.78
23.28 42.89 51.40 67.71 153.71 112.07 164.44 194.34 224.39 189.10 124.90 238.03 225.80
Operating Profit 8.55 6.71 15.92 18.69 38.19 33.80 48.59 54.56 61.90 44.73 24.13 40.43 17.98
OPM % 26.86% 13.53% 23.65% 21.63% 19.90% 23.17% 22.81% 21.92% 21.62% 19.13% 16.19% 14.52% 7.38%
0.05 0.06 0.01 0.01 0.30 -0.07 0.06 0.30 3.68 1.15 1.06 0.76 0.36
Interest 1.02 0.90 1.03 1.63 2.23 2.65 3.43 3.83 4.13 5.04 5.59 8.28 4.38
Depreciation 2.32 2.41 3.09 3.81 3.79 7.44 4.62 4.62 6.34 6.80 7.18 7.28 7.45
Profit before tax 5.26 3.46 11.81 13.26 32.47 23.64 40.60 46.41 55.11 34.04 12.42 25.63 6.51
Tax % 30.99% 28.03% 29.89% 29.94% 29.53% 29.95% 29.41% 29.86% 29.76% 28.70% 41.79% 41.75% 79.88%
3.62 2.49 8.29 9.29 22.89 16.55 28.67 32.55 38.71 24.27 7.24 14.93 1.30
EPS in Rs 0.41 0.28 0.95 1.06 2.61 1.89 3.27 3.72 4.42 2.77 0.83 1.70 0.15
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
46 45 59 62 65 82 90 107 129 185 490 981 905
39 34 48 56 52 60 69 78 94 143 384 772 778
Operating Profit 7 12 10 6 12 21 21 29 35 42 107 210 127
OPM % 16% 26% 18% 10% 19% 26% 23% 28% 27% 23% 22% 21% 14%
0 0 0 6 0 4 0 0 0 0 0 5 3
Interest 2 5 3 3 3 5 5 4 3 4 8 16 23
Depreciation 1 2 2 3 4 7 8 10 10 9 18 22 29
Profit before tax 5 5 5 6 6 13 7 16 21 29 81 176 79
Tax % 41% 33% 33% 32% -55% 11% 30% 27% 31% 29% 30% 29%
3 4 4 4 9 12 5 11 15 20 57 124 48
EPS in Rs 0.64 0.83 0.51 0.56 1.05 1.34 0.58 1.30 1.69 2.31 6.51 14.18 5.45
Dividend Payout % 0% 0% 0% 0% 0% 9% 21% 10% 7% 5% 2% 2%
Compounded Sales Growth
10 Years: 36%
5 Years: 61%
3 Years: 97%
TTM: 1%
Compounded Profit Growth
10 Years: 42%
5 Years: 89%
3 Years: 103%
TTM: -59%
Stock Price CAGR
10 Years: %
5 Years: 79%
3 Years: 130%
1 Year: -20%
Return on Equity
10 Years: 21%
5 Years: 28%
3 Years: 34%
Last Year: 47%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 11 11 18 18 22 22 22 22 22 22 22 44 44
Reserves 10 14 51 54 69 80 84 95 108 127 183 285 305
11 33 10 9 18 34 36 26 40 70 164 323 287
25 15 10 13 4 14 11 16 19 45 70 92 160
Total Liabilities 58 73 88 94 113 149 153 160 189 264 439 743 795
39 40 63 59 88 94 102 93 83 85 153 203 197
CWIP 0 0 4 6 0 9 9 9 31 75 2 0 32
Investments 1 1 1 1 1 0 0 0 0 0 0 0 0
18 31 20 27 24 46 42 58 75 104 283 540 566
Total Assets 58 73 88 94 113 149 153 160 189 264 439 743 795

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
20 -10 14 6 11 8 19 15 14 30 -72 -70
-12 -3 -6 -3 -27 -17 -16 -1 -22 -56 -13 -65
-10 14 -9 -3 16 8 -3 -14 9 25 85 141
Net Cash Flow -2 0 -0 -1 0 -0 -0 0 1 -1 -0 6

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 24 20 6 33 40 57 48 76 79 54 55 74
Inventory Days 82 323 124 74 58 204 130 159 210 214 200 125
Days Payable 92 59 24 59 17 80 47 39 37 88 46 8
Cash Conversion Cycle 14 284 106 48 80 180 131 195 252 181 210 191
Working Capital Days -66 84 67 93 89 112 102 127 146 124 162 165
ROCE % 20% 23% 13% 12% 9% 15% 9% 14% 16% 17% 30% 38%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.74% 74.74% 74.74% 74.54% 74.54% 74.42% 74.31% 74.28% 74.26% 74.26% 74.54% 74.52%
0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00%
25.26% 25.26% 25.26% 25.47% 25.46% 25.56% 25.68% 25.72% 25.74% 25.74% 25.46% 25.48%
No. of Shareholders 8343,9583,6964,9764,8595,3967,4578,9088,7068,83610,22710,121

* 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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