M M Forgings Ltd

About [ edit ]

MM Forgings is engaged in the manufacture of Steel Forgings.

  • Market Cap 1,168 Cr.
  • Current Price 484
  • High / Low 539 / 150
  • Stock P/E 50.8
  • Book Value 195
  • Dividend Yield 1.03 %
  • ROCE 8.38 %
  • ROE 10.2 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 19.52%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 7.67% over past five years.
  • Company might be capitalizing the interest cost
Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
200 201 224 245 234 214 179 176 158 76 147 216
161 160 181 198 191 174 147 146 135 69 122 183
Operating Profit 39 40 43 46 43 40 33 30 22 7 25 33
OPM % 19% 20% 19% 19% 18% 19% 18% 17% 14% 9% 17% 15%
Other Income 4 2 3 6 5 3 5 5 6 8 5 6
Interest 4 4 5 8 9 9 10 7 7 7 8 8
Depreciation 10 14 14 14 13 14 13 13 13 13 13 14
Profit before tax 29 25 28 30 26 20 15 15 8 -5 8 18
Tax % 4% 25% 23% 21% 33% 20% 18% 24% 14% 0% 21% 14%
Net Profit 27 19 21 24 18 16 12 11 7 -5 6 15
EPS in Rs 11.36 7.71 8.81 9.94 7.26 6.75 5.03 4.66 2.71 -2.05 2.66 6.22

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
214 164 272 350 361 411 503 502 478 621 904 727 598
175 136 218 290 303 331 392 394 386 496 731 602 510
Operating Profit 39 29 54 60 58 81 111 108 93 124 173 125 87
OPM % 18% 17% 20% 17% 16% 20% 22% 22% 19% 20% 19% 17% 15%
Other Income 1 1 10 7 0 2 2 5 11 12 16 19 25
Interest 9 6 6 6 7 8 9 8 10 13 26 33 30
Depreciation 16 12 20 23 21 36 35 36 39 42 54 53 53
Profit before tax 14 12 38 39 30 38 69 69 55 82 109 57 28
Tax % 28% 12% 22% 31% 19% 24% 26% 28% 21% 17% 25% 19%
Net Profit 10 10 30 27 24 29 51 50 43 69 81 46 23
EPS in Rs 4.24 4.32 12.34 11.10 10.15 12.17 20.98 20.78 18.02 28.43 33.70 19.15 9.54
Dividend Payout % 18% 17% 12% 14% 15% 16% 14% 14% 17% 18% 15% 26%
Compounded Sales Growth
10 Years:16%
5 Years:8%
3 Years:15%
TTM:-26%
Compounded Profit Growth
10 Years:17%
5 Years:-2%
3 Years:2%
TTM:-60%
Stock Price CAGR
10 Years:24%
5 Years:16%
3 Years:-6%
1 Year:199%
Return on Equity
10 Years:17%
5 Years:17%
3 Years:16%
Last Year:10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
12 12 12 12 12 12 12 12 12 12 24 24 24
Reserves 83 92 117 140 160 184 226 268 303 357 412 444 448
Borrowings 111 114 129 154 146 151 190 214 224 381 688 566 453
17 24 26 34 46 31 45 45 51 86 93 105 187
Total Liabilities 224 242 285 340 363 378 473 538 589 836 1,217 1,140 1,112
113 130 146 188 196 200 225 262 320 365 588 653 657
CWIP 25 22 2 3 4 7 11 30 14 27 39 9 0
Investments 0 0 0 0 0 0 0 0 0 4 5 5 5
86 90 138 149 164 171 237 245 255 440 585 473 450
Total Assets 224 242 285 340 363 378 473 538 589 836 1,217 1,140 1,112

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
23 27 -7 48 57 35 106 123 107 -14 33 267
-41 -15 -5 -59 -30 -40 -63 -86 -69 -93 -275 -71
18 -7 7 11 -28 6 21 -5 -25 137 249 -194
Net Cash Flow -0 5 -5 0 -0 1 64 32 13 30 8 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 12% 8% 14% 13% 12% 13% 20% 17% 13% 15% 14% 8%
Debtor Days 29 64 57 24 34 26 21 11 13 33 32 6
Inventory Turnover 2.93 2.57 2.82 2.58 2.56 2.99 3.31 3.38 3.55 3.31 3.12 2.56

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
56.34 56.34 56.34 56.34 56.34 56.34 56.34 56.34 56.34 56.34 56.34 56.34
1.12 1.19 1.15 1.20 1.41 1.61 1.65 1.66 0.30 0.01 0.42 0.89
19.92 19.85 21.28 21.58 21.63 21.53 21.69 21.93 21.85 21.88 21.24 21.05
22.62 22.62 21.23 20.89 20.63 20.53 20.32 20.07 21.52 21.77 22.01 21.73

Documents