Mahalaxmi Rubtech Ltd

Mahalaxmi Rubtech Ltd

₹ 210 -0.63%
14 Jun - close price
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)

  • Market Cap 223 Cr.
  • Current Price 210
  • High / Low 291 / 101
  • Stock P/E 20.2
  • Book Value 49.9
  • Dividend Yield 0.00 %
  • ROCE 16.6 %
  • ROE 16.2 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 20.0% CAGR over last 5 years
  • Debtor days have improved from 59.7 to 45.0 days.

Cons

  • Stock is trading at 4.21 times its book value
  • 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.
  • Company has a low return on equity of 8.83% over last 3 years.
  • Company might be capitalizing the interest cost
  • 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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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
55.68 35.01 43.74 45.76 45.14 48.82 48.54 46.84 19.15 50.13 53.32 19.88 20.96
50.04 31.44 39.92 42.05 41.29 46.34 44.14 42.10 14.26 46.45 49.18 16.50 14.13
Operating Profit 5.64 3.57 3.82 3.71 3.85 2.48 4.40 4.74 4.89 3.68 4.14 3.38 6.83
OPM % 10.13% 10.20% 8.73% 8.11% 8.53% 5.08% 9.06% 10.12% 25.54% 7.34% 7.76% 17.00% 32.59%
2.21 0.74 0.73 1.04 1.99 2.67 0.92 0.71 0.31 0.89 1.65 0.29 0.40
Interest 2.09 0.72 0.87 1.18 0.99 1.00 1.06 1.14 0.53 0.83 0.89 0.32 0.47
Depreciation 2.44 1.91 1.91 2.00 2.68 2.05 2.08 2.11 0.91 1.96 1.98 0.94 0.84
Profit before tax 3.32 1.68 1.77 1.57 2.17 2.10 2.18 2.20 3.76 1.78 2.92 2.41 5.92
Tax % 22.59% 14.29% 29.38% 24.20% 28.57% 25.24% 19.72% 19.09% 2.66% 29.21% 25.00% 19.92% 34.46%
2.57 1.44 1.25 1.19 1.55 1.57 1.75 1.77 3.66 1.26 2.20 1.93 3.88
EPS in Rs 1.93 1.08 0.94 1.12 1.46 1.48 1.65 1.67 3.45 1.19 2.08 1.82 3.66
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
122 149 144 168 202 228 185 180 137 170 200 77
113 137 132 155 188 214 169 163 119 155 186 59
Operating Profit 9 12 12 13 14 13 15 16 18 15 14 18
OPM % 7% 8% 8% 8% 7% 6% 8% 9% 13% 9% 7% 24%
1 0 1 1 0 2 2 3 3 4 6 2
Interest 2 3 2 2 2 2 2 3 3 4 4 2
Depreciation 5 6 7 7 8 8 9 10 9 8 8 4
Profit before tax 3 3 4 5 5 6 6 6 8 7 7 15
Tax % 31% 31% 33% 35% 33% 33% 20% 23% 22% 25% 20% 25%
2 2 3 3 3 4 5 5 6 5 6 11
EPS in Rs 2.51 2.60 3.31 3.50 3.40 3.31 3.71 3.62 4.59 5.11 5.49 10.41
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: -62%
Compounded Profit Growth
10 Years: 17%
5 Years: 20%
3 Years: 22%
TTM: 148%
Stock Price CAGR
10 Years: 24%
5 Years: 51%
3 Years: 83%
1 Year: 17%
Return on Equity
10 Years: 7%
5 Years: 8%
3 Years: 9%
Last Year: 16%

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
Equity Capital 9 9 9 9 10 11 13 13 13 11 11 11
Reserves 34 36 39 42 49 58 70 75 81 66 72 42
48 50 43 44 36 37 35 33 38 51 44 16
31 25 29 42 53 60 54 54 41 53 61 13
Total Liabilities 122 120 120 136 148 168 172 175 173 180 188 82
65 68 62 65 61 68 68 62 66 64 61 29
CWIP 4 1 2 0 1 4 2 11 1 1 0 1
Investments 0 0 0 0 0 0 0 0 0 3 3 0
52 51 55 72 86 95 102 103 105 112 124 52
Total Assets 122 120 120 136 148 168 172 175 173 180 188 82

Cash Flows

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
0 0 12 15 5 13 11 23 14 16 7 17
0 0 -2 -8 -5 -18 -6 -15 -15 -12 13 -8
0 0 -9 -0 3 5 2 -8 1 -10 -11 -4
Net Cash Flow 0 0 2 7 2 0 8 0 0 -6 10 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 71 45
Inventory Days 139 94 86 103 91 84 129 125 145 146 148 156
Days Payable 115 72 103 134 117 113 154 158 160 186 175 54
Cash Conversion Cycle 74 73 54 36 42 36 49 39 67 23 43 147
Working Capital Days 55 55 54 41 45 47 63 49 86 58 62 84
ROCE % 5% 7% 7% 7% 7% 6% 7% 7% 9% 8% 8%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
72.40% 72.40% 66.71% 66.71% 66.71% 66.68% 66.68% 64.80% 64.80% 64.80% 64.80% 64.80%
0.00% 0.00% 0.00% 0.00% 0.00% 0.04% 0.53% 0.58% 0.00% 0.00% 0.00% 0.00%
0.06% 0.06% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
27.54% 27.54% 33.22% 33.22% 33.22% 33.20% 32.72% 34.54% 35.12% 35.13% 35.11% 35.10%
No. of Shareholders 3,9043,9493,8525,6615,1135,1684,8434,9025,3425,0794,5844,345

* 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.

Click on the line-items to see the names of individual entities.

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