Mukand Ltd

Mukand Ltd

₹ 170 -0.06%
02 Mar 9:54 a.m.
About

Mukand Ltd is engaged in manufacturing of special alloy steel, billets, bars, rods, EOT cranes, material handling equipment and other industrial machinery and comprehensive engineering services.[1]

Key Points

Specialty Steel Division (~98%)[1]
Under the division, the company offers various alloy steel and stainless steel products that cater to the requirements of auto components, engineering, oil & gas, petrochemicals, healthcare, food, architecture, building, and construction industries. [2]
Its product portfolio includes various types of special steel wire rods & black bars, special steel cold heating quality wire rods, electrode quality wire rods, Blooms/ Billets, bars, etc. [3]

  • Market Cap 2,454 Cr.
  • Current Price 170
  • High / Low 213 / 115
  • Stock P/E 12.3
  • Book Value 60.8
  • Dividend Yield 1.17 %
  • ROCE -8.29 %
  • ROE -50.9 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Debtor days have improved from 46.1 to 30.4 days.
  • Company's working capital requirements have reduced from 143 days to 101 days

Cons

  • Stock is trading at 2.79 times its book value
  • Company has a low return on equity of -63.1% over last 3 years.
  • Earnings include an other income of Rs.564 Cr.

* 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: Steel Industry: Steel - Large

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
798 924 793 1,199 1,324 1,331 1,464 1,462 1,330 1,314 1,382 1,377 1,177
748 1,399 757 1,145 1,255 1,244 1,383 1,424 1,256 1,691 1,305 1,307 1,114
Operating Profit 50 -476 37 55 68 88 82 38 75 -377 77 70 62
OPM % 6% -52% 5% 5% 5% 7% 6% 3% 6% -29% 6% 5% 5%
91 637 80 7 25 7 3 22 7 552 3 3 6
Interest 84 59 39 38 40 44 43 46 51 38 33 33 34
Depreciation 18 12 11 11 11 11 11 12 14 15 12 12 12
Profit before tax 40 90 66 12 42 39 31 3 16 123 34 28 22
Tax % -63% 169% -15% -42% 17% -37% 19% 8% -19% -2% 9% 16% 12%
65 -61 76 18 35 54 25 2 19 125 31 23 19
EPS in Rs 4.56 -4.34 5.37 1.24 2.48 3.81 1.75 0.17 1.30 8.68 2.14 1.61 1.34
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
2,592 2,138 2,516 3,016 2,953 2,713 3,436 3,689 2,923 2,726 4,643 5,568 5,250
2,460 2,034 2,329 2,643 2,593 2,351 3,216 3,542 2,848 3,228 4,404 5,739 5,417
Operating Profit 131 104 188 373 360 361 220 148 75 -502 239 -172 -168
OPM % 5% 5% 7% 12% 12% 13% 6% 4% 3% -18% 5% -3% -3%
10 -48 16 -7 12 45 1,331 79 68 748 119 573 564
Interest 178 226 254 276 293 294 473 327 364 332 161 177 138
Depreciation 66 65 68 76 77 72 158 58 75 69 45 52 52
Profit before tax -102 -234 -118 13 2 42 920 -158 -296 -155 151 172 207
Tax % 14% 4% 28% 12% 280% 127% 11% 27% 19% -32% -17% 0%
-87 -224 -84 12 -6 -11 821 -115 -240 -204 176 172 199
EPS in Rs -5.94 -15.32 -5.98 0.79 -0.53 -0.80 58.06 -8.17 -16.96 -14.41 12.47 11.89 13.77
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% -7% 12% 17%
Compounded Sales Growth
10 Years: 10%
5 Years: 10%
3 Years: 24%
TTM: -6%
Compounded Profit Growth
10 Years: %
5 Years: -2%
3 Years: -22%
TTM: 99%
Stock Price CAGR
10 Years: 23%
5 Years: 24%
3 Years: 41%
1 Year: 25%
Return on Equity
10 Years: -18%
5 Years: -43%
3 Years: -63%
Last Year: -51%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 73 73 147 141 141 141 141 141 141 141 145 145 145
Reserves 1,968 1,740 1,726 1,725 1,714 173 938 774 529 321 522 709 735
Preference Capital 6 6 0 6 6 0 4 3 4 4 6 6
1,960 2,244 2,365 2,615 2,846 2,979 2,120 2,572 2,751 2,072 2,031 1,499 1,497
1,080 1,145 1,393 1,381 1,391 1,181 1,247 979 1,038 703 827 825 615
Total Liabilities 5,080 5,202 5,632 5,863 6,093 4,474 4,447 4,465 4,460 3,237 3,524 3,178 2,992
2,390 2,417 2,500 2,461 2,429 693 562 505 516 447 484 488 474
CWIP 105 147 52 38 31 39 23 23 30 26 32 30 40
Investments 52 54 39 38 36 133 1,268 1,287 1,214 528 128 159 2
2,532 2,584 3,040 3,326 3,597 3,609 2,594 2,650 2,700 2,236 2,880 2,501 2,476
Total Assets 5,080 5,202 5,632 5,863 6,093 4,474 4,447 4,465 4,460 3,237 3,524 3,178 2,992

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
101 -46 -59 19 135 319 894 -56 150 -328 -102 106
-105 -99 -9 -11 -35 -36 88 7 12 1,345 280 619
-25 152 77 -10 -94 -283 -987 40 -159 -997 -166 -728
Net Cash Flow -28 7 10 -3 5 -0 -5 -9 2 20 12 -3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 123 134 135 122 144 137 31 45 52 69 39 30
Inventory Days 272 354 413 380 417 456 220 227 309 217 184 144
Days Payable 200 250 296 230 238 294 196 138 172 84 64 50
Cash Conversion Cycle 195 237 253 273 323 299 56 134 189 203 159 125
Working Capital Days 135 150 154 189 220 252 97 138 175 197 132 101
ROCE % 2% 1% 4% 7% 7% 8% 4% 5% 2% -18% 8% -8%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
74.35% 74.35% 74.35% 74.61% 74.72% 73.82% 73.82% 73.82% 74.36% 74.70% 74.70% 74.70%
0.00% 0.01% 0.04% 0.07% 0.07% 0.03% 0.08% 0.04% 0.14% 0.06% 0.08% 0.32%
3.59% 3.59% 3.59% 3.59% 3.59% 3.27% 2.18% 2.18% 2.10% 1.52% 1.17% 1.19%
22.06% 22.05% 22.02% 21.73% 21.62% 22.88% 23.92% 23.96% 23.40% 23.72% 24.04% 23.78%
No. of Shareholders 33,58031,75432,64132,34733,09644,62745,26743,17543,78344,83947,59349,809

* 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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