Meghmani Organics Ltd

About [ edit ]

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. #

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. #

Key Points [ edit ]
  • Market Cap 3,516 Cr.
  • Current Price 138
  • High / Low 154 / 44.0
  • Stock P/E 14.8
  • Book Value 52.2
  • Dividend Yield 0.72 %
  • ROCE 21.7 %
  • ROE 21.8 %
  • Face Value 1.00

Pros

  • Company has delivered good profit growth of 35.34% CAGR over last 5 years

Cons

  • Company might be capitalizing the interest cost
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
471 476 501 552 558 616 532 522 520 428 626 658
351 352 385 407 399 481 422 418 436 332 453 499
Operating Profit 120 124 117 145 159 135 110 105 84 96 172 159
OPM % 25% 26% 23% 26% 28% 22% 21% 20% 16% 23% 28% 24%
Other Income 13 14 17 4 -18 4 18 8 26 3 2 11
Interest 9 13 17 8 18 7 6 14 16 10 12 23
Depreciation 24 24 24 25 24 22 22 22 22 23 32 34
Profit before tax 100 100 93 117 99 110 100 77 73 66 130 113
Tax % 23% 23% 33% 32% 22% 29% 3% 26% 21% 29% 29% 30%
Net Profit 50 64 55 66 66 57 84 48 51 39 81 69
EPS in Rs 1.97 2.50 2.16 2.61 2.61 2.24 3.32 1.87 2.02 1.54 3.19 2.73

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
791 816 1,045 1,062 1,058 1,178 1,294 1,332 1,420 1,800 2,088 2,191 2,232
702 693 896 904 873 983 1,078 1,063 1,131 1,365 1,540 1,756 1,720
Operating Profit 89 124 149 158 186 196 217 269 288 434 548 436 512
OPM % 11% 15% 14% 15% 18% 17% 17% 20% 20% 24% 26% 20% 23%
Other Income 2 18 8 13 12 6 -7 17 9 26 14 55 42
Interest 26 42 54 74 64 68 75 63 51 40 56 43 61
Depreciation 17 51 69 75 75 80 75 77 91 95 97 89 112
Profit before tax 48 48 34 23 58 54 60 146 156 326 409 359 381
Tax % 23% 18% 13% 84% 51% 34% 23% 24% 25% 27% 28% 20%
Net Profit 37 52 38 3 17 23 44 82 88 171 251 240 241
EPS in Rs 1.46 2.03 1.49 0.14 0.68 0.90 1.73 3.24 3.45 6.74 9.88 9.44 9.48
Dividend Payout % 23% 20% 27% 73% 15% 11% 23% 9% 12% 6% 10% 11%
Compounded Sales Growth
10 Years:10%
5 Years:11%
3 Years:16%
TTM:0%
Compounded Profit Growth
10 Years:17%
5 Years:35%
3 Years:39%
TTM:-11%
Stock Price CAGR
10 Years:28%
5 Years:28%
3 Years:11%
1 Year:213%
Return on Equity
10 Years:15%
5 Years:21%
3 Years:24%
Last Year:22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 403 442 469 451 477 493 526 606 693 845 978 1,184 1,303
Borrowings 569 639 715 763 717 754 644 578 461 386 716 790 663
264 242 257 246 321 391 346 384 401 555 657 738 959
Total Liabilities 1,261 1,349 1,466 1,485 1,540 1,663 1,542 1,594 1,580 1,811 2,376 2,737 2,951
199 641 654 656 623 689 781 735 778 795 737 926 1,603
CWIP 418 44 56 86 165 126 23 92 19 103 518 792 219
Investments 41 19 36 20 25 1 24 1 29 72 1 1 31
602 645 720 724 728 848 713 766 754 841 1,122 1,018 1,097
Total Assets 1,261 1,349 1,466 1,485 1,540 1,663 1,542 1,594 1,580 1,811 2,376 2,737 2,951

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
55 81 126 134 205 136 252 201 259 405 375 404
-313 -114 -119 -75 -94 -46 -59 -73 -96 -274 -291 -481
289 31 9 -50 -132 -60 -213 -134 -164 -128 45 -48
Net Cash Flow 30 -1 16 8 -21 30 -19 -6 -1 2 129 -125

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 % 12% 9% 8% 8% 10% 10% 12% 18% 18% 30% 33% 22%
Debtor Days 131 141 120 114 117 109 89 90 85 76 75 88
Inventory Turnover 5.41 4.60 5.03 4.42 3.90 3.62 3.72 3.08 3.21 4.04 3.38 3.59

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 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

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