Meghmani Organics Ltd(Merged)

Meghmani Organ. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Meghmani Organics Ltd(Merged)

₹ 138 0.44%
17 May 2021
meghmani.com
About

Meghmani Organics Ltd (MOL) manufactures green and blue pigment products, which are used to manufacture printing ink, plastic, paints, textiles, leather, and rubber.

It also manufactures a wide variety of commonly used pesticides for crop and non-crop applications, this include insect control in wood preservation and food grain storage. [1]

In 2009, Meghmani Finechem Ltd (MFL), subsidiary of MOL also commissioned its caustic soda plant, which has the capacity of 294,000 tonnes per annum and is powered by a 96-megawatt captive power plant. [2]

Key Points

Pigments (29% of revenue) [1]
The company is amongst the top 3 global Phthalocyanine based pigment players. 14% global market share.

3 vertically integrated Manufacturing facilities [2]

The company is trying to expand into new geographies and explore new pigments. The company has strong client relationships (90% business from repeat clients). The high degree of product customization, consistent quality, and compliance regulations add to client stickiness

Website
  • Market Cap ₹ 3,516 Cr.
  • Current Price ₹ 138
  • High / Low ₹ /
  • Stock P/E 16.5
  • Book Value ₹ 42.6
  • Dividend Yield 0.00 %
  • ROCE 22.2 %
  • ROE 21.2 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 46.0% CAGR over last 5 years

Cons

* 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
307 280 310 354 370 377 451 390 378 405 295 426 445
260 257 260 294 317 307 393 329 315 352 240 324 355
Operating Profit 47 23 50 60 53 70 59 61 63 53 55 101 90
OPM % 15% 8% 16% 17% 14% 19% 13% 16% 17% 13% 19% 24% 20%
1 12 73 16 2 -9 3 16 8 51 2 1 10
Interest 8 7 12 16 7 10 7 5 10 10 6 2 12
Depreciation 11 11 11 12 12 11 11 12 12 12 12 12 12
Profit before tax 29 16 99 48 36 39 44 60 49 82 38 88 76
Tax % 41% 28% 14% 35% 38% 23% 35% -3% 28% 18% 25% 26% 26%
17 12 85 31 22 30 28 62 35 68 29 66 56
EPS in Rs 0.67 0.47 3.35 1.23 0.87 1.18 1.11 2.43 1.39 2.66 1.13 2.59 2.20
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
768 729 865 822 750 893 948 959 1,046 1,234 1,410 1,625 1,570
670 637 774 747 697 816 848 847 913 1,060 1,174 1,387 1,271
Operating Profit 98 93 91 75 53 77 100 112 133 174 236 238 300
OPM % 13% 13% 11% 9% 7% 9% 11% 12% 13% 14% 17% 15% 19%
3 22 7 9 9 4 15 16 7 21 78 77 65
Interest 24 14 17 28 27 35 48 41 36 31 46 31 31
Depreciation 15 17 20 26 26 31 35 36 38 43 46 48 49
Profit before tax 62 84 60 30 9 15 32 50 65 121 222 235 285
Tax % 19% 26% 21% 46% 34% 21% 19% 27% 37% 37% 24% 18%
51 62 47 17 6 12 26 36 42 77 169 193 218
EPS in Rs 1.99 2.42 1.86 0.65 0.23 0.46 1.03 1.43 1.63 3.03 6.63 7.59 8.58
Dividend Payout % 17% 17% 22% 15% 44% 22% 39% 21% 24% 13% 15% 13%
Compounded Sales Growth
10 Years: 8%
5 Years: 11%
3 Years: 16%
TTM: -2%
Compounded Profit Growth
10 Years: 12%
5 Years: 46%
3 Years: 64%
TTM: 28%
Stock Price CAGR
10 Years: 21%
5 Years: 20%
3 Years: %
1 Year: %
Return on Equity
10 Years: 10%
5 Years: 14%
3 Years: 18%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
Equity Capital 25 25 25 25 25 25 25 25 25 25 25 25
Reserves 423 472 508 502 509 514 541 566 607 672 813 965
190 249 324 327 376 435 387 388 338 421 327 264
156 163 177 179 219 265 201 217 221 259 339 389
Total Liabilities 795 909 1,034 1,033 1,130 1,240 1,155 1,197 1,192 1,378 1,504 1,644
141 146 191 248 257 371 388 383 384 448 439 481
CWIP 9 43 46 53 89 21 16 23 16 25 49 101
Investments 110 130 148 114 138 138 139 125 125 234 183 183
534 590 649 618 646 710 613 667 667 672 832 879
Total Assets 795 909 1,034 1,033 1,130 1,240 1,155 1,197 1,192 1,378 1,504 1,644

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
99 37 77 81 68 48 142 79 115 178 115 234
-27 -74 -106 -34 -59 -80 -32 -33 -28 -218 -59 -93
-26 36 41 -46 -16 41 -104 -49 -88 40 -56 -134
Net Cash Flow 46 -1 11 1 -7 8 5 -3 -0 0 1 6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
Debtor Days 141 162 137 143 160 135 116 112 104 90 92 104
Inventory Days 77 91 82 92 111 135 114 175 119 120 164 108
Days Payable 54 72 70 66 101 105 80 108 88 88 100 85
Cash Conversion Cycle 164 180 150 169 170 165 150 179 135 122 155 127
Working Capital Days 181 212 193 211 217 199 163 176 153 128 133 111
ROCE % 18% 14% 10% 7% 4% 5% 9% 10% 11% 15% 20% 22%

Shareholding Pattern

Numbers in percentages

Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021
50.29% 50.31% 50.68% 50.68% 50.76% 50.92% 50.91% 51.28% 51.29% 51.58% 51.52% 51.59%
3.49% 3.05% 2.47% 1.88% 2.65% 2.57% 2.04% 1.96% 1.59% 1.53% 1.58% 1.54%
0.59% 0.56% 0.22% 0.26% 0.31% 0.22% 0.16% 0.17% 0.17% 0.02% 0.00% 0.00%
45.63% 46.08% 46.63% 47.18% 46.27% 46.29% 46.89% 46.59% 46.95% 46.87% 46.90% 46.86%
No. of Shareholders 1,02,7111,04,8271,09,8411,12,9881,10,5641,09,5681,08,3321,07,5101,13,2651,10,2421,06,7981,07,488

* 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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