Milton Industries Ltd

Milton Industries Ltd

₹ 34.7 4.99%
24 Apr 3:07 p.m.
About

Incorporated in 1985, Milton Industries
Ltd manufactures artificial leather, laminates,
and glass fiber-reinforced epoxy resin sheets.

Key Points

Business Overview:[1]
Company manufactures and exports high-pressure laminates, industrial Laminates, laminated boards, and flooring laminates which are used on walls, doors, windows, cupboards, tabletops, hotels, cash counters, home kitchens, etc.

  • Market Cap 59.0 Cr.
  • Current Price 34.7
  • High / Low 48.4 / 22.0
  • Stock P/E 29.2
  • Book Value 25.8
  • Dividend Yield 0.00 %
  • ROCE 9.28 %
  • ROE 6.89 %
  • Face Value 10.0

Pros

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 9.34% over past five years.
  • Company has a low return on equity of 7.57% over last 3 years.
  • Company might be capitalizing the interest cost
  • Company has high debtors of 159 days.

* 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.

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Half Yearly Results

Figures in Rs. Crores

Sep 2019 Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023
28.89 39.43 18.83 23.35 25.59 34.07 29.40 31.55 41.10
26.38 33.71 15.63 20.30 23.20 30.17 26.85 28.25 38.97
Operating Profit 2.51 5.72 3.20 3.05 2.39 3.90 2.55 3.30 2.13
OPM % 8.69% 14.51% 16.99% 13.06% 9.34% 11.45% 8.67% 10.46% 5.18%
0.69 -0.56 0.34 0.21 0.58 0.12 0.18 0.09 0.01
Interest 0.88 1.18 0.99 0.78 0.81 0.47 0.40 0.57 0.86
Depreciation 0.61 0.80 0.69 0.60 0.64 0.80 0.72 0.35 0.54
Profit before tax 1.71 3.18 1.86 1.88 1.52 2.75 1.61 2.47 0.74
Tax % 0.00% 44.34% 0.00% 57.98% 0.00% 36.73% 0.00% 48.58% 0.00%
1.71 1.77 1.86 0.79 1.51 1.74 1.60 1.27 0.75
EPS in Rs 1.01 1.04 1.09 0.46 0.89 1.02 0.94 0.75 0.44
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
39.83 46.37 45.39 41.60 41.99 43.47 39.01 53.79 68.16 42.19 59.66 60.95 72.65
38.82 42.97 42.02 38.42 37.60 38.78 34.69 49.40 59.92 35.94 53.38 55.10 67.22
Operating Profit 1.01 3.40 3.37 3.18 4.39 4.69 4.32 4.39 8.24 6.25 6.28 5.85 5.43
OPM % 2.54% 7.33% 7.42% 7.64% 10.45% 10.79% 11.07% 8.16% 12.09% 14.81% 10.53% 9.60% 7.47%
1.67 0.18 0.08 0.68 0.05 0.17 0.59 1.49 0.13 0.55 0.70 0.27 0.10
Interest 1.10 1.73 1.67 2.06 2.15 2.29 2.31 1.88 2.06 1.77 1.28 0.97 1.43
Depreciation 0.62 0.70 0.68 0.85 1.05 1.27 1.27 1.24 1.41 1.29 1.45 1.08 0.89
Profit before tax 0.96 1.15 1.10 0.95 1.24 1.30 1.33 2.76 4.90 3.74 4.25 4.07 3.21
Tax % 37.50% 25.22% 31.82% 33.68% 82.26% 27.69% 2.26% 28.99% 28.78% 29.14% 23.53% 29.48%
0.61 0.86 0.74 0.63 0.22 0.94 1.30 1.96 3.48 2.65 3.25 2.87 2.02
EPS in Rs 1.45 1.56 1.35 1.15 0.40 1.71 0.76 1.15 2.05 1.56 1.91 1.69 1.19
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 3%
5 Years: 9%
3 Years: -4%
TTM: 14%
Compounded Profit Growth
10 Years: 13%
5 Years: 17%
3 Years: -6%
TTM: -40%
Stock Price CAGR
10 Years: %
5 Years: 21%
3 Years: 22%
1 Year: 14%
Return on Equity
10 Years: 7%
5 Years: 8%
3 Years: 8%
Last Year: 7%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 3.77 5.00 5.00 5.00 5.00 5.00 15.45 15.45 17.00 17.00 17.00 17.00 17.00
Reserves 4.90 5.63 6.37 6.92 7.17 8.27 13.40 15.36 17.30 19.94 23.20 26.07 26.81
15.39 14.92 17.52 20.56 23.58 22.84 21.89 16.39 16.39 12.68 8.89 16.46 20.53
11.63 12.75 12.39 15.19 12.76 19.52 18.82 15.64 20.62 14.71 12.63 14.56 21.36
Total Liabilities 35.69 38.30 41.28 47.67 48.51 55.63 69.56 62.84 71.31 64.33 61.72 74.09 85.70
5.04 5.44 6.01 5.50 12.63 12.24 10.98 10.82 12.27 13.21 12.66 12.41 11.97
CWIP 0.71 0.38 0.54 6.32 0.42 0.28 0.47 0.04 0.00 0.24 0.00 0.00 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
29.94 32.48 34.73 35.85 35.46 43.11 58.11 51.98 59.04 50.88 49.06 61.68 73.73
Total Assets 35.69 38.30 41.28 47.67 48.51 55.63 69.56 62.84 71.31 64.33 61.72 74.09 85.70

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0.54 1.57 0.24 5.07 1.32 3.26 -11.30 6.30 5.20 7.71 8.10 -8.35
-0.88 -0.79 -1.36 -6.21 -2.21 -0.51 0.29 0.75 -3.06 -2.00 -0.33 0.78
0.26 -0.83 1.10 1.21 1.13 -2.78 11.35 -7.13 -1.64 -5.37 -5.10 6.22
Net Cash Flow -0.08 -0.05 -0.02 0.07 0.23 -0.04 0.33 -0.08 0.51 0.34 2.67 -1.34

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 70.01 61.55 62.88 69.58 86.40 129.56 155.60 140.87 148.55 225.02 123.46 158.64
Inventory Days 199.52 207.26 220.15 241.30 243.04 251.87 362.46 176.81 154.33 302.38 218.04 225.10
Days Payable 102.50 82.18 87.55 122.74 69.80 144.34 179.53 90.30 97.73 137.65 76.09 97.60
Cash Conversion Cycle 167.04 186.64 195.48 188.13 259.64 237.08 338.52 227.38 205.16 389.75 265.41 286.14
Working Capital Days 163.39 152.00 176.35 170.30 186.63 185.31 346.57 241.03 200.23 303.75 200.98 265.89
ROCE % 8.80% 11.33% 10.18% 8.67% 9.94% 9.99% 8.41% 9.48% 14.22% 10.99% 11.20% 9.28%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Dec 2023Mar 2024
72.42% 72.42% 72.42% 72.42% 72.42% 72.96% 72.96% 72.96% 72.96% 72.96% 72.96% 72.96%
27.59% 27.58% 27.58% 27.59% 27.58% 27.04% 27.04% 27.04% 27.04% 27.04% 27.04% 27.04%
No. of Shareholders 249282277274277275288289297297290265

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