Mahalaxmi Rubtech Ltd

₹ 220 -0.50%

24 Apr - close price

mrtglobal.com BSE: 514450 NSE - BE : MHLXMIRU

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 - BE

Market Cap ₹ 234 Cr.
Current Price ₹ 220
High / Low ₹ 266 / 101
Stock P/E 25.7
Book Value ₹ 86.4
Dividend Yield 0.00 %
ROCE 10.2 %
ROE 8.49 %
Face Value ₹ 10.0

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Pros

Cons

Stock is trading at 2.55 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 3.28% over past five years.
Company has a low return on equity of 7.73% over last 3 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

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	39.13	56.29	35.24	45.98	50.00	66.09	59.54	66.77	66.25	74.93	65.19	70.03	74.76
	34.05	50.65	31.63	41.95	46.03	59.98	56.28	62.02	60.90	69.57	61.00	65.05	69.57
Operating Profit	5.08	5.64	3.61	4.03	3.97	6.11	3.26	4.75	5.35	5.36	4.19	4.98	5.19
OPM %	12.98%	10.02%	10.24%	8.76%	7.94%	9.24%	5.48%	7.11%	8.08%	7.15%	6.43%	7.11%	6.94%
	0.13	2.21	0.74	0.73	1.04	2.33	2.73	0.86	0.66	1.40	1.11	1.98	0.77
Interest	0.30	2.14	0.72	0.87	1.24	1.42	1.25	1.17	1.23	1.46	1.00	1.19	0.98
Depreciation	2.37	2.44	1.91	1.91	2.00	2.69	2.07	2.09	2.13	2.14	1.99	2.01	2.09
Profit before tax	2.54	3.27	1.72	1.98	1.77	4.33	2.67	2.35	2.65	3.16	2.31	3.76	2.89
Tax %	24.41%	22.63%	15.12%	30.30%	19.77%	29.79%	25.09%	20.43%	20.00%	21.52%	31.60%	25.53%	21.80%
	1.92	2.53	1.46	1.37	1.43	3.03	2.01	1.86	2.11	2.47	1.57	2.81	2.26
EPS in Rs	1.44	1.90	1.10	1.03	1.35	2.86	1.90	1.75	1.99	2.33	1.48	2.65	2.13
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	202	228	186	181	138	197	267	285
	188	214	170	164	121	179	249	265
Operating Profit	14	13	16	16	18	18	19	20
OPM %	7%	6%	8%	9%	13%	9%	7%	7%
	0	2	2	3	3	5	6	5
Interest	2	2	2	3	3	4	5	5
Depreciation	8	8	9	10	9	9	8	8
Profit before tax	5	6	6	6	8	10	11	12
Tax %	33%	33%	20%	23%	22%	26%	22%
	3	4	5	5	6	7	8	9
EPS in Rs	3.40	3.31	3.73	3.46	4.56	6.88	7.96	8.59
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	3%
3 Years:	14%
TTM:	10%

Compounded Profit Growth
10 Years:	%
5 Years:	16%
3 Years:	17%
TTM:	1%

Stock Price CAGR
10 Years:	28%
5 Years:	54%
3 Years:	104%
1 Year:	11%

Return on Equity
10 Years:	%
5 Years:	7%
3 Years:	8%
Last Year:	8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	10	11	13	13	13	11	11	11
Reserves	49	58	70	75	81	68	77	81
	36	37	35	33	38	55	56	52
	53	60	54	55	41	59	67	70
Total Liabilities	148	168	172	176	173	192	210	214
	61	68	68	62	68	67	64	62
CWIP	1	4	2	11	1	1	0	1
Investments	0	0	0	0	0	0	0	0
	86	95	102	104	103	124	146	150
Total Assets	148	168	172	176	173	192	210	214

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	68	66	74	73	81	68	66
Inventory Days	91	84	131	129	143	143	132
Days Payable	117	113	152	161	156	173	147
Cash Conversion Cycle	42	36	53	40	68	39	51
Working Capital Days	45	47	62	48	79	60	63
ROCE %		6%	7%	7%	9%	10%	10%

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
	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	3,904	3,949	3,852	5,661	5,113	5,168	4,843	4,902	5,342	5,079	4,584	4,345

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	62.04%	67.00%	71.58%	72.03%	72.40%	66.71%	64.80%	64.80%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.58%	0.00%
	0.08%	0.07%	0.06%	0.06%	0.06%	0.07%	0.07%	0.07%
	0.00%	0.51%	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%
No. of Shareholders	6,189	5,288	4,522	4,280	3,843	5,661	4,902	4,345

* 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.

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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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