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 14.8
  • Book Value ₹ 52.2
  • Dividend Yield 0.00 %
  • ROCE 19.9 %
  • ROE 21.8 %
  • Face Value ₹ 1.00
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Pros

  • Company has delivered good profit growth of 35.3% CAGR over last 5 years

Cons

  • 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
450 471 476 501 552 558 616 532 522 520 428 626 658
333 351 352 385 407 399 481 422 418 436 332 453 499
Operating Profit 117 120 124 117 145 159 135 110 105 84 96 172 159
OPM % 26% 25% 26% 23% 26% 28% 22% 21% 20% 16% 23% 28% 24%
2 13 14 17 4 -18 4 18 8 26 3 2 11
Interest 10 9 13 17 8 18 7 6 14 16 10 12 23
Depreciation 24 24 24 24 25 24 22 22 22 22 23 32 34
Profit before tax 84 100 100 93 117 99 110 100 77 73 66 130 113
Tax % 26% 23% 23% 33% 32% 22% 29% 3% 26% 21% 29% 29% 30%
63 77 77 62 79 77 78 98 57 57 47 93 79
EPS in Rs 1.71 1.97 2.50 2.16 2.61 2.61 2.24 3.32 1.87 2.02 1.54 3.19 2.73
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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 1,075 1,063 1,131 1,365 1,540 1,756 1,720
Operating Profit 89 124 149 159 186 196 219 269 288 434 548 436 512
OPM % 11% 15% 14% 15% 18% 17% 17% 20% 20% 24% 26% 20% 23%
2 18 8 12 12 6 -10 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%
37 40 30 4 28 35 46 111 116 238 295 289 276
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: 19%
5 Years: 35%
3 Years: 39%
TTM: -11%
Stock Price CAGR
10 Years: 20%
5 Years: 19%
3 Years: %
1 Year: %
Return on Equity
10 Years: 15%
5 Years: 20%
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
Equity Capital 25 25 25 25 25 25 25 25 25 25 25 25
Reserves 403 442 469 451 477 493 526 732 693 845 978 1,184
569 639 715 763 717 754 644 578 461 386 716 790
264 242 257 246 321 391 346 258 401 555 657 738
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
199 641 654 656 623 689 781 735 778 795 737 926
CWIP 418 44 56 86 165 126 23 92 19 103 518 792
Investments 41 19 36 20 25 1 24 1 29 72 1 1
602 645 720 724 728 848 713 766 754 841 1,122 1,018
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

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
Debtor Days 131 141 120 114 117 109 89 90 85 76 75 88
Inventory Days 79 94 83 96 107 132 103 161 111 107 145 104
Days Payable 65 74 69 62 87 92 68 92 75 78 91 81
Cash Conversion Cycle 144 161 135 148 138 149 124 159 121 105 130 111
Working Capital Days 188 199 173 169 160 163 131 139 126 96 87 80
ROCE % 11% 8% 7% 7% 10% 9% 11% 17% 16% 26% 29% 20%

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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