Mahalaxmi Rubtech Ltd

₹ 283 9.99%

12 Dec 4:00 p.m.

About

Incorporated in 1991, Mahalaxmi Rubtech Ltd does manufacturing and marketing of Traditional Textiles and Polymer based Technical Textiles & Rubber products^[1]

Key Points

Business Overview:^[1]^[2]
MRTL is a part of the Mahalaxmi Group. It is an ISO 9001:2000 certified research-based, technology-driven company that manufactures Offset printing Blankets, niche textile and Rubber products. Company is the only Indian manufacturer with inhouse facility from Yan to offset printing blanket. Company does weaving and processing of fabric (own and job work) and manufacturing of technical textiles (rubber offset printing blankets)

Website BSE NSE

Market Cap ₹ 300 Cr.
Current Price ₹ 283
High / Low ₹ 291 / 138
Stock P/E 23.9
Book Value ₹ 56.8
Dividend Yield 0.00 %
ROCE 25.3 %
ROE 23.3 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company has delivered good profit growth of 20.0% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -16.1% over past five years.
Promoter holding has decreased over last 3 years: -7.60%

* 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

Sector: Textiles Industry: Textiles - Processing

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	43.74	45.76	45.14	48.82	48.54	46.84	19.15	50.13	19.04	19.88	20.96	20.60	23.62
	39.92	42.05	41.29	46.34	44.14	42.10	14.26	46.45	15.76	16.50	14.13	15.79	18.15
Operating Profit	3.82	3.71	3.85	2.48	4.40	4.74	4.89	3.68	3.28	3.38	6.83	4.81	5.47
OPM %	8.73%	8.11%	8.53%	5.08%	9.06%	10.12%	25.54%	7.34%	17.23%	17.00%	32.59%	23.35%	23.16%
	0.73	1.04	1.99	2.67	0.92	0.71	0.31	0.89	0.59	0.29	0.40	0.41	0.53
Interest	0.87	1.18	0.99	1.00	1.06	1.14	0.53	0.83	0.37	0.32	0.47	0.33	0.22
Depreciation	1.91	2.00	2.68	2.05	2.08	2.11	0.91	1.96	0.94	0.94	0.84	0.96	0.97
Profit before tax	1.77	1.57	2.17	2.10	2.18	2.20	3.76	1.78	2.56	2.41	5.92	3.93	4.81
Tax %	29.38%	24.20%	28.57%	25.24%	19.72%	19.09%	2.66%	29.21%	28.52%	19.92%	34.46%	17.30%	27.44%
	1.25	1.19	1.55	1.57	1.75	1.77	3.66	1.26	1.84	1.93	3.88	3.26	3.49
EPS in Rs	0.94	1.12	1.46	1.48	1.65	1.67	3.45	1.19	1.74	1.82	3.66	3.08	3.29
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	122	149	144	168	202	228	185	180	137	170	69	77	85
	113	137	132	155	188	214	169	163	119	155	53	59	65
Operating Profit	9	12	12	13	14	13	15	16	18	15	17	18	20
OPM %	7%	8%	8%	8%	7%	6%	8%	9%	13%	9%	24%	24%	24%
	1	0	1	1	0	2	2	3	3	4	1	2	2
Interest	2	3	2	2	2	2	2	3	3	4	2	2	1
Depreciation	5	6	7	7	8	8	9	10	9	8	4	4	4
Profit before tax	3	3	4	5	5	6	6	6	8	7	12	15	17
Tax %	31%	31%	33%	35%	33%	33%	20%	23%	22%	25%	12%	25%
	2	2	3	3	3	4	5	5	6	5	11	11	13
EPS in Rs	2.51	2.60	3.31	3.50	3.40	3.31	3.71	3.62	4.59	5.11	10.27	10.41	11.85
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-6%
5 Years:	-16%
3 Years:	-17%
TTM:	-37%

Compounded Profit Growth
10 Years:	17%
5 Years:	20%
3 Years:	22%
TTM:	47%

Stock Price CAGR
10 Years:	28%
5 Years:	64%
3 Years:	90%
1 Year:	54%

Return on Equity
10 Years:	8%
5 Years:	10%
3 Years:	14%
Last Year:	23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	9	9	9	9	10	11	13	13	13	11	11	11	11
Reserves	34	36	39	42	53	60	70	75	81	66	31	42	50
	48	50	43	44	36	37	35	33	38	51	18	16	12
	31	25	29	42	49	58	54	54	41	53	12	13	17
Total Liabilities	122	120	120	136	148	168	172	175	173	180	72	82	89
	65	68	62	65	61	68	68	62	66	64	30	29	28
CWIP	4	1	2	0	1	4	2	11	1	1	0	1	1
Investments	0	0	0	0	0	0	0	0	0	3	0	0	0
	52	51	55	72	86	95	102	103	105	112	41	52	59
Total Assets	122	120	120	136	148	168	172	175	173	180	72	82	89

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	12	15	5	13	11	23	14	16	-3	17
	-2	-8	-5	-18	-6	-15	-15	-12	15	-8
	-9	-0	3	5	2	-8	1	-10	-8	-4
Net Cash Flow	2	7	2	0	8	0	0	-6	4	5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	51	52	71	66	68	66	74	72	81	63	46	45
Inventory Days	139	94	86	103	91	84	129	125	145	146	203	156
Days Payable	115	72	103	134	117	113	154	158	160	186	85	54
Cash Conversion Cycle	74	73	54	36	42	36	49	39	67	23	164	147
Working Capital Days	55	55	54	41	45	47	63	49	86	58	105	84
ROCE %	5%	7%	7%	7%	7%	6%	7%	7%	9%	8%	15%	25%

Shareholding Pattern

Numbers in percentages

33 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	66.71%	66.71%	66.71%	66.68%	66.68%	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%	64.80%
	0.00%	0.00%	0.00%	0.04%	0.53%	0.58%	0.00%	0.00%	0.00%	0.00%	0.57%	0.57%
	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%
	33.22%	33.22%	33.22%	33.20%	32.72%	34.54%	35.12%	35.13%	35.11%	35.10%	34.55%	34.56%
No. of Shareholders	3,852	5,661	5,113	5,168	4,843	4,902	5,342	5,079	4,584	4,345	5,568	6,464

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	62.04%	67.00%	71.58%	72.03%	72.40%	66.71%	64.80%	64.80%	64.80%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.58%	0.00%	0.57%
	0.08%	0.07%	0.06%	0.06%	0.06%	0.07%	0.07%	0.07%	0.07%
	0.00%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	37.88%	32.42%	28.36%	27.91%	27.54%	33.22%	34.54%	35.10%	34.56%
No. of Shareholders	6,189	5,288	4,522	4,280	3,843	5,661	4,902	4,345	6,464

* 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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Mahalaxmi Rubtech Ltd

Mahalaxmi Rubtech Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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