Madhav Copper Ltd
Incorporated in 2012, Madhav Copper Ltd is in the business of Copper Fabricated Product and Winding wires[1]
- Market Cap ₹ 120 Cr.
- Current Price ₹ 44.2
- High / Low ₹ 84.0 / 39.6
- Stock P/E 34.5
- Book Value ₹ 17.2
- Dividend Yield 0.00 %
- ROCE 8.50 %
- ROE 10.9 %
- Face Value ₹ 5.00
Pros
- Company is expected to give good quarter
- Debtor days have improved from 42.4 to 31.9 days.
- Company's median sales growth is 81.4% of last 10 years
- Company's working capital requirements have reduced from 208 days to 100 days
Cons
- Stock is trading at 2.57 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -9.25% over past five years.
- Tax rate seems low
- Company has a low return on equity of 1.39% over last 3 years.
- Company might be capitalizing the interest cost
* 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
Industrials Capital Goods Industrial Products Aluminium, Copper & Zinc Products
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 20 | 36 | 71 | 169 | 213 | 202 | 383 | 122 | 0 | 35 | 124 | 172 | |
| 1 | 18 | 34 | 69 | 164 | 204 | 194 | 374 | 122 | 2 | 37 | 118 | 165 | |
| Operating Profit | -0 | 1 | 2 | 2 | 4 | 9 | 9 | 9 | 0 | -2 | -1 | 6 | 7 |
| OPM % | -28% | 6% | 6% | 3% | 3% | 4% | 4% | 2% | 0% | -3% | 5% | 4% | |
| 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 2 | -0 | 5 | 1 | 1 | |
| Interest | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 3 | 3 | 2 | 2 | 2 | 2 |
| Profit before tax | -1 | 0 | 1 | 1 | 3 | 6 | 6 | 6 | -2 | -5 | 1 | 3 | 4 |
| Tax % | 0% | 30% | 32% | 26% | 26% | 39% | 27% | 27% | 29% | -16% | -6% | -36% | |
| -1 | 0 | 1 | 1 | 2 | 4 | 4 | 4 | -2 | -4 | 1 | 5 | 3 | |
| EPS in Rs | -0.69 | 0.19 | 0.30 | 0.34 | 0.96 | 1.48 | 1.64 | 1.65 | -0.90 | -1.62 | 0.45 | 1.73 | 1.28 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | -9% |
| 3 Years: | 1% |
| TTM: | 119% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 30% |
| 5 Years: | 4% |
| 3 Years: | 53% |
| TTM: | -35% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | -6% |
| 3 Years: | 19% |
| 1 Year: | 3% |
| Return on Equity | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 1% |
| 3 Years: | 1% |
| Last Year: | 11% |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.75 | 2 | 2 | 2 | 2 | 6 | 14 | 14 | 14 | 14 | 14 | 14 | 14 |
| Reserves | -1 | -0 | 1 | 5 | 7 | 7 | 29 | 33 | 31 | 26 | 27 | 32 | 33 |
| 4 | 6 | 6 | 11 | 7 | 12 | 4 | 3 | 7 | 1 | 13 | 26 | 40 | |
| 1 | 4 | 1 | 5 | 7 | 21 | 14 | 81 | 63 | 63 | 10 | 5 | 14 | |
| Total Liabilities | 5 | 12 | 9 | 23 | 24 | 46 | 60 | 130 | 115 | 103 | 64 | 77 | 101 |
| 2 | 2 | 3 | 4 | 6 | 12 | 13 | 15 | 13 | 11 | 10 | 9 | 8 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 3 | 3 | 3 | 3 |
| Investments | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| 2 | 10 | 7 | 19 | 18 | 32 | 46 | 112 | 98 | 89 | 51 | 65 | 90 | |
| Total Assets | 5 | 12 | 9 | 23 | 24 | 46 | 60 | 130 | 115 | 103 | 64 | 77 | 101 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | -3 | 2 | -6 | 7 | 9 | -13 | 2 | 3 | -1 | -1 | 3 | |
| 0 | -1 | -0 | -2 | -3 | -9 | -3 | -7 | -1 | 1 | -1 | -1 | |
| 0 | 3 | -2 | 8 | -4 | 0 | 23 | -3 | -1 | -0 | 2 | -3 | |
| Net Cash Flow | 0 | -0 | 0 | 0 | -0 | 0 | 7 | -7 | 0 | -0 | 0 | 0 |
Ratios
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 218 | 117 | 36 | 44 | 30 | 40 | 24 | 35 | 109 | 53 | 32 | |
| Inventory Days | 424 | 51 | 24 | 42 | 4 | 13 | 21 | 49 | 107 | 12,798 | 351 | 121 |
| Days Payable | 26 | 71 | 3 | 23 | 13 | 32 | 19 | 78 | 179 | 22,075 | 88 | 13 |
| Cash Conversion Cycle | 616 | 97 | 57 | 63 | 21 | 21 | 25 | 6 | 37 | 316 | 140 | |
| Working Capital Days | -98 | 23 | 19 | 20 | 10 | 5 | 43 | 28 | 83 | 316 | 100 | |
| ROCE % | -18% | 15% | 23% | 16% | 23% | 34% | 18% | 14% | -3% | -10% | 4% | 8% |
Documents
Announcements
-
Copy of Newspaper Publication
14 November 2025 - Newspaper publication of unaudited standalone Q2 and H1 results ended Sep 30, 2025, published Nov 14, 2025.
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Outcome of Board Meeting
13 November 2025 - Board approved unaudited Q2/H1 results ended Sep 30, 2025; Q2 sales Rs51,13,97,916.
-
Updates
10 October 2025 - Board committees reconstituted w.e.f. Sept 30, 2025; Dipakkumar Patel appointed Independent Director (term Sep25,2025–Sep24,2030).
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
9 October 2025 - RTA Bigshare certifies dematerialisation compliance under Reg 74(5) for quarter ended 30 Sep 2025.
-
Cessation
30 September 2025 - Mr. Chaitnya Bhanubhai Doshi ceases as Independent Director effective September 30, 2025.
Annual reports
Concalls
-
Jan 2020TranscriptNotesPPT
Business Overview:[1]
MCL is a part of the Gujarat-based Madhav group. It manufactures and trades in enamelled and submersible wires.