MMTC Ltd

MMTC Ltd

₹ 80.6 -2.36%
26 Feb - close price
About

MMTC, a public sector undertaking, was incorporated in 1963, to facilitate foreign trade in India and canalize the export and import of essential minerals and metals. It is under the administrative control of the Ministry of Commerce & Industry, and Government of India and is engaged in trading across minerals, metals, precious metals, agro products, fertilizers & chemicals and coal & hydrocarbons. [1]

Key Points

Business Verticals
Agro Products: The Co is an established supplier/buyer having over 3 decades of experience in the trade of wheat, rice, maize, sugar etc. [1]
Fertilizers: It is engaged in import of finished, intermediate and raw fertilizers and handles about 3 to 4 million tonnes of fertilizers. [2]
Metals & Industrial Raw Materials: Trading of non ferrous metals like copper, zinc etc and Industrial Raw Materials like Brown Fused Alumina, White Fused Alumina, Ferroalloys etc. [3]
Minerals: Trading of Iron ore Fines & Lumps, Chrome Ore, Chrome Concentrate, Manganese Ore and other items. [4]
Precious Metals: The Co is an authorized agency of the Government of India for import of gold, silver, platinum, palladium, rough diamonds, emeralds, rubies and other semi-precious stones. [5]

  • Market Cap 12,098 Cr.
  • Current Price 80.6
  • High / Low 102 / 26.3
  • Stock P/E 1,076
  • Book Value 8.59
  • Dividend Yield 0.00 %
  • ROCE -1.27 %
  • ROE -18.6 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 9.39 times its book value
  • The company has delivered a poor sales growth of -56.0% over past five years.
  • Company has a low return on equity of -31.1% over last 3 years.
  • Earnings include an other income of Rs.222 Cr.
  • Company has high debtors of 180 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.

Peer comparison

Sector: Trading Industry: Trading

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
10,542 8,225 4,169 1,391 1,664 1,170 248 14 6 5 2 2 1
10,534 8,259 4,196 1,418 1,684 662 271 51 41 33 65 32 37
Operating Profit 8 -34 -28 -28 -21 508 -23 -36 -35 -28 -63 -30 -36
OPM % 0% -0% -1% -2% -1% 43% -9% -259% -569% -608% -2,920% -1,675% -4,982%
-17 -832 -5 -107 -10 21 10 1,437 27 44 71 45 63
Interest 51 52 48 50 53 54 112 10 -7 -3 0 1 -1
Depreciation 1 1 1 1 1 1 1 1 1 1 1 1 1
Profit before tax -61 -919 -82 -186 -86 474 -126 1,390 -2 17 7 12 26
Tax % 0% 35% 0% 0% 0% 76% 0% 20% 3,598% 28% 57% 12% 13%
-61 -594 -82 -186 -86 115 -126 1,117 72 13 3 11 23
EPS in Rs -0.40 -3.96 -0.55 -1.24 -0.57 0.77 -0.84 7.45 0.48 0.08 0.02 0.07 0.15
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
66,325 28,598 25,269 18,283 12,568 11,707 16,450 28,979 24,134 26,380 8,392 272 9
66,285 28,555 25,163 18,336 12,626 11,730 16,423 28,797 24,203 26,435 7,945 393 167
Operating Profit 40 43 106 -53 -58 -24 27 182 -69 -55 448 -122 -158
OPM % 0% 0% 0% -0% -0% -0% 0% 1% -0% -0% 5% -45% -1,691%
627 61 -11 148 152 134 55 8 -12 -835 -101 1,517 222
Interest 579 220 68 17 31 22 17 66 141 199 222 112 -2
Depreciation 12 12 12 18 6 7 5 6 6 5 5 4 4
Profit before tax 76 -128 14 60 58 81 59 119 -227 -1,094 121 1,279 62
Tax % 7% 45% -29% 20% 5% 30% 17% 31% 0% 30% 297% 16%
71 -71 19 48 55 57 49 81 -227 -770 -238 1,076 49
EPS in Rs 0.47 -0.47 0.12 0.32 0.37 0.38 0.33 0.54 -1.51 -5.13 -1.59 7.17 0.32
Dividend Payout % 35% -14% 80% 52% 55% 53% 61% 55% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -37%
5 Years: -56%
3 Years: -78%
TTM: -99%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 8%
TTM: -64%
Stock Price CAGR
10 Years: 10%
5 Years: 26%
3 Years: 26%
1 Year: 155%
Return on Equity
10 Years: -4%
5 Years: -14%
3 Years: -31%
Last Year: -19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 100 100 100 100 100 100 100 150 150 150 150 150 150
Reserves 1,321 1,241 1,242 1,259 1,312 1,334 1,349 1,339 1,034 272 43 1,115 1,138
3,430 1,478 413 287 272 440 519 922 3,732 2,368 2,555 48 26
5,487 3,879 2,942 4,305 2,115 4,204 3,449 2,044 1,664 2,716 2,015 1,961 1,940
Total Liabilities 10,338 6,698 4,697 5,951 3,799 6,078 5,418 4,455 6,580 5,507 4,763 3,273 3,255
97 87 75 58 57 56 52 49 48 42 37 33 29
CWIP 0 6 7 0 1 0 0 0 0 0 0 0 0
Investments 467 485 502 446 460 581 453 452 22 23 32 26 36
9,774 6,121 4,114 5,447 3,281 5,441 4,912 3,953 6,511 5,442 4,694 3,214 3,190
Total Assets 10,338 6,698 4,697 5,951 3,799 6,078 5,418 4,455 6,580 5,507 4,763 3,273 3,255

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-1,318 540 57 -308 -96 300 -472 -329 -2,517 1,600 -112 927
683 282 139 104 85 -96 134 6 -61 36 42 1,967
-3,260 -2,201 -1,142 -161 -75 111 26 301 2,614 -1,566 -19 -2,620
Net Cash Flow -3,895 -1,378 -946 -365 -86 315 -312 -22 36 69 -89 274

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 15 28 25 61 24 16 8 4 29 8 6 180
Inventory Days 5 12 5 7 13 79 41 4 3 1 1 2
Days Payable 19 36 23 68 29 23 25 14 10 11 13 358
Cash Conversion Cycle 2 4 7 -0 7 72 23 -6 22 -3 -6 -176
Working Capital Days 8 9 8 16 22 17 28 22 68 27 103 -331
ROCE % 12% 9% 14% 3% 1% 1% 4% 9% -1% -0% 18% -1%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
89.93% 89.93% 89.93% 89.93% 89.93% 89.93% 89.93% 89.93% 89.93% 89.93% 89.93% 89.93%
0.00% 0.00% 0.01% 0.01% 0.07% 0.02% 0.02% 0.03% 0.02% 0.02% 0.02% 0.00%
4.01% 3.52% 2.93% 2.81% 2.56% 2.56% 2.56% 2.56% 2.56% 2.56% 2.52% 2.43%
6.07% 6.55% 7.13% 7.25% 7.45% 7.49% 7.49% 7.47% 7.49% 7.48% 7.54% 7.64%
No. of Shareholders 1,49,9381,66,6451,72,6851,79,3861,98,2681,93,9821,94,6621,87,0921,85,2331,84,3502,63,6453,02,066

* 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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