Mega Flex Plastics Ltd

Mega Flex Plast. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Mega Flex Plastics Ltd

₹ 36.0 -1.37%
02 May - close price
megaflex.co.in NSE - SM : MEGAFLEX
About

Incorporated in 2007, Mega Flex Plastics Limited is primarily engaged in manufacturing Leno Bags which are used for packaging agricultural products like potatoes, onions, garlic, coconuts, fruits, and vegetables. The company is also manufacturing Woven Fabric and Sutli (Fibrillated Twisted Thread).[1]

Key Points

Business segments
A) Leno Bags[1] Co. is one of the leading manufacturers of Polypropylene (PP) Leno Bags in India. Leno Bags is the latest & modern method of packing, storing, and transporting fruits and vegetables at the farm. It is made on Circular / Flat Weaving Leno Looms and is available in a variety of sizes ranging from 8 inches to 80 inches in width and of any length.

Website NSE - SM
  • Market Cap ₹ 38.7 Cr.
  • Current Price ₹ 36.0
  • High / Low ₹ 52.4 / 29.0
  • Stock P/E 24.3
  • Book Value ₹ 41.6
  • Dividend Yield 0.00 %
  • ROCE 6.57 %
  • ROE 4.72 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Stock is trading at 0.87 times its book value
  • Company's working capital requirements have reduced from 58.4 days to 45.3 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 5.66% over last 3 years.
  • Contingent liabilities of Rs.17.6 Cr.
  • Earnings include an other income of Rs.2.20 Cr.

* 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: Packaging Industry: Packaging

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Half Yearly Results

Figures in Rs. Crores

Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023
20.03 26.44 21.17 31.51 23.57
19.09 23.74 20.42 30.17 24.44
Operating Profit 0.94 2.70 0.75 1.34 -0.87
OPM % 4.69% 10.21% 3.54% 4.25% -3.69%
0.23 0.34 0.60 1.16 1.04
Interest 0.03 0.01 0.03 0.02 0.05
Depreciation 0.24 0.20 0.25 0.27 0.23
Profit before tax 0.90 2.83 1.07 2.21 -0.11
Tax % 25.56% 25.09% 25.23% 23.08% 0.00%
0.67 2.12 0.79 1.70 -0.11
EPS in Rs 3.82 12.08 0.74 1.58 -0.10
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
35.82 31.50 29.49 46.47 52.69 55.08
32.43 29.78 28.26 43.16 50.89 54.61
Operating Profit 3.39 1.72 1.23 3.31 1.80 0.47
OPM % 9.46% 5.46% 4.17% 7.12% 3.42% 0.85%
1.90 1.94 1.59 0.91 1.70 2.20
Interest 0.16 0.14 0.07 0.04 0.05 0.07
Depreciation 0.84 0.70 0.55 0.47 0.52 0.50
Profit before tax 4.29 2.82 2.20 3.71 2.93 2.10
Tax % 26.11% 22.34% 41.82% 28.30% 26.62%
3.18 2.20 1.29 2.66 2.15 1.59
EPS in Rs 18.12 12.54 7.35 15.16 2.00 1.48
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 19%
TTM: 16%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: -4%
TTM: -45%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -8%
Return on Equity
10 Years: %
5 Years: %
3 Years: 6%
Last Year: 5%

Balance Sheet

Figures in Rs. Crores

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 1.75 1.75 1.75 1.75 10.75 10.75
Reserves 23.08 25.35 26.64 29.30 34.03 33.92
0.56 0.26 0.41 0.00 0.00 0.00
4.02 2.64 3.20 3.10 2.47 3.60
Total Liabilities 29.41 30.00 32.00 34.15 47.25 48.27
6.66 6.01 5.57 5.65 5.98 5.87
CWIP 0.00 0.00 0.00 0.00 0.00 0.00
Investments 7.28 10.17 6.40 8.77 4.61 2.26
15.47 13.82 20.03 19.73 36.66 40.14
Total Assets 29.41 30.00 32.00 34.15 47.25 48.27

Cash Flows

Figures in Rs. Crores

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-2.70 -0.60 3.81 4.46 -5.12
2.34 1.05 -4.09 -2.45 4.65
-0.13 -0.35 0.11 -0.45 11.35
Net Cash Flow -0.49 0.11 -0.16 1.57 10.87

Ratios

Figures in Rs. Crores

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 5.30 1.04 9.16 4.32 1.39
Inventory Days 55.02 60.44
Days Payable 1.64 4.67
Cash Conversion Cycle 5.30 1.04 9.16 57.70 57.16
Working Capital Days 38.01 43.68 89.24 40.53 45.30
ROCE % 10.24% 7.34% 11.53% 6.57%

Shareholding Pattern

Numbers in percentages

Sep 2022Mar 2023Sep 2023Mar 2024
73.32% 73.32% 73.32% 73.32%
1.65% 0.59% 1.42% 2.48%
25.03% 26.10% 25.25% 24.19%
No. of Shareholders 417377385371

* 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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Documents

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