Murudeshwar Ceramics Ltd

About [ edit ]

Murudeshwar Ceramics is manufacturing and trading Ceramic and Vitrified floor & wall tiles.

  • Market Cap 112 Cr.
  • Current Price 21.4
  • High / Low 25.8 / 11.3
  • Stock P/E
  • Book Value 60.2
  • Dividend Yield 0.00 %
  • ROCE 4.57 %
  • ROE 0.51 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.35 times its book value
  • Promoter holding has increased by 3.01% over last quarter.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -5.66% over past five years.
  • Company has a low return on equity of 1.16% for last 3 years.
  • Earnings include an other income of Rs.1.09 Cr.
  • Company's cost of borrowing seems high
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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
40.86 24.79 25.92 29.30 45.77 25.49 22.93 27.51 27.24 8.84 14.72 28.02
31.13 17.68 18.43 21.13 40.79 19.18 14.84 21.06 27.39 14.36 16.76 20.09
Operating Profit 9.73 7.11 7.49 8.17 4.98 6.31 8.09 6.45 -0.15 -5.52 -2.04 7.93
OPM % 23.81% 28.68% 28.90% 27.88% 10.88% 24.75% 35.28% 23.45% -0.55% -62.44% -13.86% 28.30%
Other Income 0.98 0.06 0.33 0.34 0.92 0.21 7.56 0.21 0.53 0.04 0.35 0.17
Interest 5.37 4.13 4.52 4.72 2.81 3.14 5.30 3.83 3.72 3.22 4.01 3.67
Depreciation 1.99 2.28 2.28 2.23 2.16 2.46 2.46 2.52 2.49 2.43 2.41 2.42
Profit before tax 3.35 0.76 1.02 1.56 0.93 0.92 7.89 0.31 -5.83 -11.13 -8.11 2.01
Tax % 23.88% 21.05% 20.59% 21.15% -32.26% 20.65% 20.91% 22.58% 6.17% -0.00% -0.00% -0.00%
Net Profit 2.55 0.59 0.80 1.23 1.24 0.73 6.24 0.25 -5.48 -11.13 -8.12 2.01
EPS in Rs 0.56 0.12 0.17 0.26 0.26 0.15 1.31 0.05 -1.15 -2.34 -1.71 0.42

Profit & Loss

Figures in Rs. Crores

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
180 130 172 178 144 145 138 115 105 119 126 103 79
128 95 119 136 112 114 107 88 79 88 97 82 79
Operating Profit 52 35 53 42 31 31 31 27 26 32 29 21 0
OPM % 29% 27% 31% 24% 22% 21% 22% 24% 25% 26% 23% 20% 0%
Other Income 0 0 0 1 0 1 2 1 1 1 2 9 1
Interest 27 26 23 24 22 21 21 20 17 19 16 16 15
Depreciation 24 25 25 17 9 9 9 7 8 9 9 10 10
Profit before tax 1 -16 5 3 1 2 2 2 2 5 5 3 -23
Tax % 75% 3% -4% -42% 6% 22% 15% 7% 47% 4% 9% 47%
Net Profit 0 -15 5 4 1 1 2 2 1 5 5 2 -23
EPS in Rs 1.51 1.02 0.22 0.29 0.42 0.38 0.31 1.09 1.01 0.37 -4.78
Dividend Payout % 584% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years:-2%
5 Years:-6%
3 Years:-1%
TTM:-35%
Compounded Profit Growth
10 Years:8%
5 Years:-0%
3 Years:9%
TTM:-369%
Stock Price CAGR
10 Years:1%
5 Years:-1%
3 Years:-14%
1 Year:65%
Return on Equity
10 Years:1%
5 Years:1%
3 Years:1%
Last Year:1%

Balance Sheet

Figures in Rs. Crores

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
18 18 35 37 39 41 41 41 43 45 48 48 48
Reserves 250 234 257 262 264 267 269 274 281 275 285 287 267
Borrowings 191 175 141 136 133 124 109 103 100 104 93 79 11
40 42 43 44 42 31 38 49 54 51 48 59 135
Total Liabilities 498 469 476 479 479 463 456 467 477 475 474 473 460
319 306 290 279 277 280 278 278 309 302 298 306 301
CWIP 10 1 2 2 2 2 0 19 2 5 1 2 4
Investments 3 3 3 3 4 4 4 4 4 4 4 4 4
167 159 182 194 196 178 174 166 163 165 171 161 152
Total Assets 498 469 476 479 479 463 456 467 477 475 474 473 460

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
59 44 32 30 27 36 36 46 23 5 15 47
-14 -3 -10 -6 -7 -11 -4 -25 -20 -4 -1 -18
-45 -41 -21 -24 -20 -24 -32 -19 -4 -3 -15 -29
Net Cash Flow -1 0 1 -0 -0 1 -1 2 -1 -2 -1 0

Ratios

Figures in Rs. Crores

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 % 6% 2% 6% 6% 5% 5% 5% 5% 5% 6% 5% 5%
Debtor Days 91 63 45 77 97 93 131 106 107 100 134 146
Inventory Turnover 0.74 0.43 0.52 0.60 0.46 0.57 0.60 0.45 0.39 0.46 0.61 0.57

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
66.83 66.83 66.83 66.83 66.83 66.83 66.83 66.83 66.83 66.83 66.83 69.84
0.50 0.45 0.45 0.45 0.45 0.45 0.55 0.47 0.46 0.46 0.46 0.14
32.67 32.72 32.72 32.72 32.72 32.72 32.62 32.71 32.71 32.71 32.71 30.01

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