Mukand Ltd

About [ edit ]

Mukand Ltd is engaged in the manufacture of special alloy steel stainless steel, billets, bars, rods, wire rods, EOT cranes, material handling equipment and other industrial machinery and comprehensive engineering services.

  • Market Cap 1,614 Cr.
  • Current Price 114
  • High / Low 124 / 15.4
  • Stock P/E
  • Book Value 32.8
  • Dividend Yield 0.00 %
  • ROCE 1.53 %
  • ROE -32.0 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 3.48 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -0.63% over past five years.
  • Company has a low return on equity of -28.90% for last 3 years.
  • Contingent liabilities of Rs.490.02 Cr.
  • Earnings include an other income of Rs.135.17 Cr.
  • Debtor days have increased from 42.84 to 52.24 days.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
842 1,018 961 869 842 668 646 766 312 693 798
805 983 930 871 804 653 631 760 377 705 748
Operating Profit 37 35 31 -2 38 15 16 5 -66 -12 50
OPM % 4% 3% 3% -0% 5% 2% 2% 1% -21% -2% 6%
Other Income 14 24 13 34 19 19 8 23 11 10 91
Interest 77 79 83 88 88 89 93 94 95 94 84
Depreciation 14 1 3 1 18 18 19 20 19 19 18
Profit before tax -41 -20 -42 -57 -49 -73 -89 -86 -169 -115 40
Tax % 36% 39% 31% 13% 26% 25% 26% 3% 27% 28% -63%
Net Profit -26 -12 -29 -50 -36 -54 -66 -83 -124 -83 65
EPS in Rs -1.85 -0.87 -2.02 -3.52 -2.55 -3.84 -4.67 -5.90 -8.76 -5.87 4.56

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,939 2,014 2,577 2,592 2,138 2,516 3,016 2,953 2,713 3,436 3,689 2,923 2,568
1,942 1,750 2,342 2,460 2,034 2,329 2,643 2,593 2,351 3,237 3,542 2,848 2,590
Operating Profit -3 264 235 131 104 188 373 360 361 198 148 75 -22
OPM % -0% 13% 9% 5% 5% 7% 12% 12% 13% 6% 4% 3% -1%
Other Income 66 88 108 10 -48 16 -7 12 46 1,353 79 68 135
Interest 208 232 234 178 226 254 276 293 294 473 327 364 367
Depreciation 59 64 69 66 65 68 76 77 72 158 58 75 76
Profit before tax -205 57 41 -102 -234 -118 13 2 42 920 -158 -296 -330
Tax % 28% 0% 37% 14% 4% 28% 12% 280% 127% 11% 27% 19%
Net Profit -146 59 27 -87 -224 -84 11 -8 -11 821 -115 -240 -226
EPS in Rs -9.97 4.03 1.86 -5.94 -15.32 -5.98 0.79 -0.53 -0.80 58.06 -8.17 -16.96 -15.97
Dividend Payout % 0% 12% 27% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:4%
5 Years:-1%
3 Years:3%
TTM:-15%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-9%
Stock Price CAGR
10 Years:10%
5 Years:27%
3 Years:18%
1 Year:568%
Return on Equity
10 Years:-7%
5 Years:-14%
3 Years:-29%
Last Year:-32%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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
79 79 79 79 79 147 147 147 141 145 145 145 141
Reserves 1,659 1,708 2,059 1,968 1,740 1,726 1,725 1,714 173 938 774 529 322
Borrowings 1,471 1,776 1,809 1,960 2,244 2,365 2,615 2,846 2,979 2,120 2,572 2,751 2,850
922 825 916 1,080 1,145 1,393 1,381 1,391 1,181 1,247 979 1,038 1,026
Total Liabilities 4,125 4,382 4,857 5,080 5,202 5,632 5,863 6,093 4,474 4,447 4,465 4,460 4,339
1,889 2,048 2,432 2,390 2,417 2,500 2,461 2,429 693 562 505 516 486
CWIP 293 129 25 105 147 52 38 31 39 23 23 30 25
Investments 44 47 51 52 54 39 38 36 133 1,268 1,287 1,214 1,186
1,898 2,157 2,348 2,532 2,584 3,040 3,326 3,597 3,609 2,594 2,650 2,700 2,642
Total Assets 4,125 4,382 4,857 5,080 5,202 5,632 5,863 6,093 4,474 4,447 4,465 4,460 4,339

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
98 -33 65 101 -46 -59 19 135 319 894 -56 150
-86 -78 34 -105 -99 -9 -11 -35 -36 88 7 12
-33 139 -113 -25 152 77 -10 -94 -283 -987 40 -159
Net Cash Flow -21 27 -14 -28 7 10 -3 5 -0 -5 -9 2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 % 1% 8% 6% 2% 1% 4% 7% 7% 8% 4% 5% 2%
Debtor Days 120 135 124 123 134 135 122 144 137 31 45 52
Inventory Turnover 1.86 1.39 1.64 1.61 1.23 1.15 1.17 1.02 0.89 1.66 1.92 1.40

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
73.10 73.10 73.32 73.71 74.35 74.35 74.35 74.35 74.35 74.35 74.35 74.35
0.01 0.09 0.09 0.09 0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.85 3.83 3.83 3.82 3.79 3.79 3.79 3.79 3.79 3.79 3.79 3.59
23.03 22.98 22.76 22.38 21.77 21.86 21.86 21.86 21.86 21.86 21.86 22.06

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