Metalyst Forgings Ltd

₹ 4.05 -4.71%

17 May 2024

About

Incorporated in 1977, Metalyst Forgings Ltd manufactures automotive components viz. front axle beam, crankshaft, and other small and medium components^[1]

Key Points

Business Overview:^[1]^[2]
Company manufactures engineered forging components viz. hot forged parts and high tensile fasteners for automotive and non-automotive segments for two/three wheelers, cars, tractors, light commercial vehicles (LCV), heavy commercial vehicles (HCV) and stationary engines

Website NSE - BZ

Market Cap ₹ 17.6 Cr.
Current Price ₹ 4.05
High / Low ₹ /
Stock P/E
Book Value ₹ -870
Dividend Yield 0.00 %
ROCE %
ROE %
Face Value ₹ 10.0

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Pros

Debtor days have improved from 89.8 to 43.2 days.

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -7.47% over past five years.

* 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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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023
	11	39	60	64	49	61	61	60	69	72	58	63	67
	17	51	57	122	51	59	60	63	67	68	59	64	67
Operating Profit	-6	-12	2	-58	-2	2	1	-3	2	3	-1	-0	-0
OPM %	-58%	-29%	4%	-91%	-4%	3%	2%	-4%	3%	5%	-1%	-1%	-1%
	-24	1	0	-319	0	0	0	0	0	-73	0	0	0
Interest	0	0	0	-1	0	0	0	0	0	0	0	0	0
Depreciation	63	63	63	63	62	63	62	62	61	61	61	61	61
Profit before tax	-94	-74	-61	-439	-65	-61	-62	-65	-60	-131	-62	-61	-62
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	-94	-74	-61	-439	-65	-61	-62	-65	-60	-131	-62	-61	-62
EPS in Rs	-21.51	-17.05	-14.01	-100.83	-14.89	-13.97	-14.12	-14.98	-13.70	-30.09	-14.19	-14.10	-14.15
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Profit & Loss

Figures in Rs. Crores

	Sep 2013 15m	Sep 2014	Sep 2015	Mar 2016 6m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1,718	2,395	2,345	869	1,106	374	380	188	174	231	262	258
	1,302	1,796	1,848	682	581	374	369	237	248	232	257	267
Operating Profit	416	599	496	187	526	0	11	-49	-74	-1	5	-9
OPM %	24%	25%	21%	22%	48%	0%	3%	-26%	-42%	-1%	2%	-4%
	43	20	-19	-207	-440	-412	1	1	-342	1	-73	-1,006
Interest	105	199	368	198	408	342	27	2	0	1	2	2
Depreciation	98	137	190	142	573	260	255	254	252	250	244	243
Profit before tax	257	282	-81	-360	-896	-1,013	-271	-303	-668	-252	-314	-1,261
Tax %	33%	32%	-33%	-24%	-28%	-8%	8%	0%	0%	0%	0%	0%
	173	193	-54	-273	-645	-930	-292	-303	-668	-252	-314	-1,261
EPS in Rs	47.15	52.54	-14.66	-74.26	-158.29	-213.59	-67.13	-69.67	-153.39	-57.97	-72.07	-289.62
Dividend Payout %	2%	2%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-17%
5 Years:	-7%
3 Years:	14%
TTM:	-1%

Compounded Profit Growth
10 Years:	%
5 Years:	2%
3 Years:	7%
TTM:	-6%

Stock Price CAGR
10 Years:	-30%
5 Years:	-7%
3 Years:	-3%
1 Year:	0%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Figures in Rs. Crores

	Sep 2013	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	37	37	37	37	41	44	44	44	44	44	44	44
Reserves	931	1,059	1,044	774	153	-775	-1,067	-1,369	-2,002	-2,255	-2,569	-3,830
	2,134	2,563	2,862	2,767	1,182	1,331	1,332	1,678	1,643	1,644	1,646	1,647
	453	553	872	1,029	2,826	3,054	3,067	2,709	2,705	2,700	2,701	2,702
Total Liabilities	3,554	4,212	4,814	4,607	4,202	3,654	3,375	3,062	2,390	2,132	1,821	562
	1,992	2,773	2,679	2,578	2,748	2,512	2,258	2,005	1,749	1,499	1,321	348
CWIP	707	147	115	145	95	138	138	138	138	139	141	141
Investments	1	1	347	347	347	347	347	347	0	0	0	0
	854	1,291	1,673	1,536	1,011	657	632	571	503	494	360	74
Total Assets	3,554	4,212	4,814	4,607	4,202	3,654	3,375	3,062	2,390	2,132	1,821	562

Cash Flows

Figures in Rs. Crores

	Sep 2013	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	635	331	745	158	709	57	-1	0	-7	-2	-2	2
	-1,642	-339	-400	-58	-690	-66	-1	2	1	2	1	2
	1,171	-96	-436	-99	-34	-4	6	-0	-0	-0	0	0
Net Cash Flow	164	-104	-91	1	-15	-13	5	2	-6	-0	-1	4

Ratios

Figures in Rs. Crores

	Sep 2013	Sep 2014	Sep 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	56	78	90	157	75	200	199	301	227	172	54	43
Inventory Days	99	139	228	576	129	174	179	355	325	225	54	52
Days Payable	31	29	20	70	53	197	206	383	411	289	255	266
Cash Conversion Cycle	124	188	297	663	151	177	172	272	142	107	-147	-170
Working Capital Days	48	53	128	227	-530	-2,214	-2,196	-4,707	-5,213	-3,935	-3,654	-3,737
ROCE %	16%	14%	8%	2%	-2%	-26%	-54%	-91%	-1,754%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	61.32%	61.32%	61.32%	61.32%	61.32%	61.32%	61.32%	61.32%	61.32%	61.32%	61.32%	61.32%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	38.66%	38.66%	38.66%	38.66%	38.66%	38.67%	38.67%	38.68%	38.67%	38.67%	38.67%	38.67%
No. of Shareholders	18,168	18,215	18,623	19,447	19,296	19,087	18,889	18,655	18,525	18,525	18,158	18,054

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	58.66%	61.32%	61.32%	61.32%	61.32%	61.32%	61.32%	61.32%
	0.00%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
	3.32%	0.42%	0.42%	0.42%	0.02%	0.02%	0.01%	0.01%
	38.01%	38.25%	38.25%	38.26%	38.66%	38.66%	38.68%	38.67%
No. of Shareholders	23,601	21,612	20,120	19,364	18,405	19,447	18,655	18,054

* 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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14 Jan from crisil