MMTC Ltd

MMTC Ltd

₹ 76.2 -1.31%
14 Jun - 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 11,438 Cr.
  • Current Price 76.2
  • High / Low 102 / 31.3
  • Stock P/E 75.8
  • Book Value 10.8
  • Dividend Yield 0.00 %
  • ROCE 9.18 %
  • ROE 9.94 %
  • Face Value 1.00

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 7.04 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 -82.2% over past five years.
  • Tax rate seems low
  • Earnings include an other income of Rs.368 Cr.
  • Company has high debtors of 26,845 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

Consolidated Figures in Rs. Crores / View Standalone

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
9,307 4,904 2,316 2,321 2,256 1,511 545 763 708 214 -210 1 1
9,338 4,931 2,346 2,340 1,743 1,532 581 797 729 277 -180 37 33
Operating Profit -31 -27 -30 -19 513 -21 -36 -34 -21 -63 -30 -36 -33
OPM % -0% -1% -1% -1% 23% -1% -7% -4% -3% -29% -4,982% -5,123%
-834 -20 -129 0 27 12 1,896 52 44 83 86 95 103
Interest 56 48 50 53 57 112 10 -7 7 0 1 -1 0
Depreciation 1 1 1 1 1 1 1 1 1 1 1 1 1
Profit before tax -922 -96 -210 -74 481 -122 1,849 24 15 18 54 59 69
Tax % 35% -0% -0% -0% 75% -0% 15% -314% 34% 21% 3% 6% -1%
-597 -96 -211 -74 118 -122 1,577 98 10 15 52 56 70
EPS in Rs -3.98 -0.64 -1.40 -0.49 0.79 -0.81 10.51 0.65 0.07 0.10 0.35 0.37 0.47
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
32,885 28,142 23,931 12,607 11,825 16,450 29,439 26,304 30,000 11,795 3,527 5
32,808 28,001 23,931 12,668 11,937 16,428 29,256 26,436 30,045 11,338 3,634 168
Operating Profit 78 141 0 -62 -112 23 183 -132 -45 457 -107 -163
OPM % 0% 0% 0% -0% -1% 0% 1% -0% -0% 4% -3% -3,044%
77 31 168 5 136 49 36 -8 -859 -126 2,000 368
Interest 253 87 40 31 23 18 68 144 203 225 122 1
Depreciation 17 17 24 6 7 5 6 6 6 5 5 4
Profit before tax -116 67 105 -94 -6 48 146 -291 -1,112 101 1,766 200
Tax % 46% 11% 26% -3% -435% 21% 25% -0% 29% 355% 12% 4%
-111 -18 -42 -97 -30 38 109 -292 -789 -258 1,562 192
EPS in Rs -0.74 -0.12 -0.28 -0.64 -0.20 0.25 0.72 -1.94 -5.26 -1.72 10.42 1.28
Dividend Payout % -9% -83% -59% -31% -101% 80% 41% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -58%
5 Years: -82%
3 Years: -94%
TTM: -100%
Compounded Profit Growth
10 Years: 19%
5 Years: 5%
3 Years: 20%
TTM: -51%
Stock Price CAGR
10 Years: 2%
5 Years: 26%
3 Years: 9%
1 Year: 137%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 100 100 100 100 100 100 150 150 150 150 150 150
Reserves 1,392 1,350 1,264 1,168 1,101 1,103 1,119 733 -50 -298 1,262 1,476
1,679 558 436 273 440 519 961 3,850 2,422 2,626 203 159
3,726 3,050 4,499 2,117 4,207 3,450 2,150 1,677 2,952 2,306 2,064 1,902
Total Liabilities 6,897 5,058 6,300 3,659 5,848 5,172 4,380 6,410 5,474 4,783 3,678 3,687
164 146 122 57 57 52 49 49 42 38 34 29
CWIP 126 142 153 1 0 0 0 0 0 0 0 0
Investments 473 432 275 214 247 128 147 80 82 102 127 276
6,135 4,338 5,749 3,386 5,544 4,992 4,184 6,282 5,350 4,643 3,517 3,382
Total Assets 6,897 5,058 6,300 3,659 5,848 5,172 4,380 6,410 5,474 4,783 3,678 3,687

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
681 71 -178 -54 273 -455 -367 -2,588 1,704 -0 754 -353
250 127 85 87 -68 117 9 -58 11 3 1,959 198
-2,158 -1,217 -178 -119 110 26 339 2,689 -1,634 -5 -2,547 -43
Net Cash Flow -1,228 -1,019 -271 -86 315 -312 -19 42 80 -3 166 -198

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 21 23 46 24 16 8 5 28 10 12 42 26,845
Inventory Days 11 4 5 13 78 41 4 3 1 1 0 164
Days Payable 29 21 53 29 23 25 15 10 13 18 37 153,948
Cash Conversion Cycle 3 6 -1 7 71 23 -6 22 -2 -5 5 -126,939
Working Capital Days 7 7 10 22 17 28 22 57 19 58 -8 -3,065
ROCE % 9% 14% 6% -8% -5% 4% 11% -3% -1% 19% 23%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
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% 0.01% 0.01% 0.07% 0.02% 0.02% 0.03% 0.02% 0.02% 0.02% 0.00% 0.15%
3.52% 2.93% 2.81% 2.56% 2.56% 2.56% 2.56% 2.56% 2.56% 2.52% 2.43% 2.70%
6.55% 7.13% 7.25% 7.45% 7.49% 7.49% 7.47% 7.49% 7.48% 7.54% 7.64% 7.23%
No. of Shareholders 1,66,6451,72,6851,79,3861,98,2681,93,9821,94,6621,87,0921,85,2331,84,3502,63,6453,02,0663,48,800

* 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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