Meghmani Organics Ltd

About [ edit ]

Meghmani 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. #

In 2009 Meghmani also commissioned its caustic soda plant, which has the capacity of 187,600 tonnes per annum and is powered by a 60-megawatt captive power plant. #

Key Points [ edit ]
  • Market Cap 2,060 Cr.
  • Current Price 81.0
  • High / Low 89.9 / 31.8
  • Stock P/E 9.66
  • Book Value 42.6
  • Dividend Yield 1.23 %
  • ROCE 22.2 %
  • ROE 21.2 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 46.04% CAGR over last 5 years

Cons

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
280 310 354 370 377 451 390 378 405 295 426 445
257 260 294 317 307 393 329 315 352 240 324 355
Operating Profit 23 50 60 53 70 59 61 63 53 55 101 90
OPM % 8% 16% 17% 14% 19% 13% 16% 17% 13% 19% 24% 20%
Other Income 12 73 16 2 -9 3 16 8 51 2 1 10
Interest 7 12 16 7 10 7 5 10 10 6 2 12
Depreciation 11 11 12 12 11 11 12 12 12 12 12 12
Profit before tax 16 99 48 36 39 44 60 49 82 38 88 76
Tax % 28% 14% 35% 38% 23% 35% -3% 28% 18% 25% 26% 26%
Net Profit 12 85 31 22 30 28 62 35 68 29 66 56
EPS in Rs 0.47 3.35 1.23 0.87 1.18 1.11 2.43 1.39 2.65 1.13 2.59 2.20
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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
670 637 774 747 697 816 850 847 913 1,060 1,194 1,387 1,271
Operating Profit 98 93 91 75 53 77 98 112 133 174 216 238 300
OPM % 13% 13% 11% 9% 7% 9% 10% 12% 13% 14% 15% 15% 19%
Other Income 3 22 7 9 9 4 17 16 7 21 98 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%
Net Profit 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 3.02 6.63 7.59 8.57
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:19%
5 Years:32%
3 Years:-4%
1 Year:57%
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 Sep 2020
25 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 1,059
Borrowings 190 249 324 327 376 435 387 388 338 421 327 264 240
156 163 177 179 219 265 201 217 221 259 339 389 445
Total Liabilities 795 909 1,034 1,033 1,130 1,240 1,155 1,197 1,192 1,378 1,504 1,644 1,770
141 146 191 248 257 371 388 383 384 448 439 481 488
CWIP 9 43 46 53 89 21 16 23 16 25 49 101 159
Investments 110 130 148 114 138 138 139 125 125 234 183 183 214
534 590 649 618 646 710 613 667 667 672 832 879 910
Total Assets 795 909 1,034 1,033 1,130 1,240 1,155 1,197 1,192 1,378 1,504 1,644 1,770

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
ROCE % 18% 14% 10% 7% 4% 5% 9% 10% 11% 15% 20% 22%
Debtor Days 141 162 137 143 160 135 116 112 104 90 92 104
Inventory Turnover 5.82 4.74 5.07 4.56 3.93 3.68 3.47 2.89 3.06 3.63 3.03 3.33

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
50.39 50.29 50.31 50.68 50.68 50.76 50.92 50.91 51.28 51.29 51.58 51.52
3.59 3.49 3.05 2.47 1.88 2.65 2.57 2.04 1.96 1.59 1.53 1.58
0.66 0.59 0.56 0.22 0.26 0.31 0.22 0.16 0.17 0.17 0.02 0.00
45.36 45.63 46.08 46.63 47.18 46.27 46.29 46.89 46.59 46.95 46.87 46.90

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