Madhyam Agrivet Industries Ltd

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Madhyam Agrivet Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Madhyam Agrivet Industries Ltd

₹ 99.6 -0.10%
22 Apr 2021
prabhatdairy.in
About

Prabhat Dairy Limited provides animal feed solutions and sells its products under the Annapurna brand. [1] It sold its flagship dairy business and is now focussing on compound cattle feed and supplies formulated Total Mix Ration (TMR) products and services to dairy farmers. [1]

Key Points

Sale of Dairy Business (96% of Revenue)
The company vides agreement dated January 21, 2019, has signed a definitive agreement to sell its dairy business along with its subsidiary Company to Tirumala Milk Products Private Limited, a wholly-owned subsidiary of the French dairy multinational, Groupe Lactalis, for a total consideration of Rs. 1700 Cr.. [1]

The transaction has two parts, wherein SAIPL would be sold to TMPPL for Rs. 1,227 Cr. The additional Rs. 473 Cr agreed in the transaction would come from the slump sale of PDL’s dairy business on a going concern to SAIPL. [2]

Website
  • Market Cap ₹ 973 Cr.
  • Current Price ₹ 99.6
  • High / Low ₹ /
  • Stock P/E
  • Book Value ₹ 50.1
  • Dividend Yield 0.00 %
  • ROCE -14.0 %
  • ROE -17.6 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Debtor days have improved from 1,014 to 99.9 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -11.9% over past five years.
  • Company has a low return on equity of -0.66% over last 3 years.

* 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
403.91 5.56 5.76 15.46 13.65 161.47 73.40 63.38 201.58 194.73 82.61 87.87 92.36
366.42 5.37 5.47 17.17 13.74 162.92 73.22 65.87 202.62 337.56 80.75 84.14 91.10
Operating Profit 37.49 0.19 0.29 -1.71 -0.09 -1.45 0.18 -2.49 -1.04 -142.83 1.86 3.73 1.26
OPM % 9.28% 3.42% 5.03% -11.06% -0.66% -0.90% 0.25% -3.93% -0.52% -73.35% 2.25% 4.24% 1.36%
0.47 17.48 18.05 14.32 6.59 13.32 16.80 17.53 17.31 8.24 10.43 10.07 10.54
Interest 8.45 0.00 0.00 0.00 0.00 0.09 0.30 0.00 0.00 0.00 0.00 1.31 0.00
Depreciation 12.52 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 0.06 0.06 0.07 0.08
Profit before tax 16.99 17.67 18.34 12.61 6.50 11.78 16.68 15.04 16.14 -134.65 12.23 12.42 11.72
Tax % 13.07% 0.34% 0.11% 1.98% 0.31% -31.49% 30.58% 35.90% 36.56% 4.43% 25.02% 25.04% 25.00%
14.77 17.60 18.32 12.35 6.48 15.49 11.58 9.64 10.24 -140.63 9.17 9.31 8.79
EPS in Rs 1.51 1.80 1.88 1.26 0.66 1.59 1.19 0.99 1.05 -14.40 0.94 0.95 0.90
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 TTM
483 641 857 1,003 1,168 1,410 28 239 533 458
434 569 766 900 1,052 1,283 26 236 679 594
Operating Profit 49 72 91 104 115 127 1 3 -146 -136
OPM % 10% 11% 11% 10% 10% 9% 4.5% 1.1% -27% -30%
1 1 1 1 1 20 46 49 60 39
Interest 18 30 33 41 41 29 0 0 0 1
Depreciation 16 24 33 34 40 43 0 0 0 0
Profit before tax 15 19 25 29 37 74 48 52 -87 -98
Tax % 35% 28% 18% 10% 37% 37% 1% 5% 26%
10 14 21 26 23 47 47 49 -109 -113
EPS in Rs 0.32 4.60 6.93 3.64 2.37 4.81 4.84 5.00 -11.18 -11.61
Dividend Payout % 0% 0% 0% 27% 17% 8% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: -12%
3 Years: -28%
TTM: -8%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -341%
Stock Price CAGR
10 Years: -2%
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: 1%
3 Years: -1%
Last Year: -18%

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 Sep 2020
Equity Capital 0.30 3 3 71 98 98 98 98 98 98
Reserves 113 220 291 280 548 591 633 682 373 392
285 285 319 412 158 358 207 0 0 0
81 66 94 100 75 102 105 675 2,294 2,405
Total Liabilities 479 575 707 864 878 1,149 1,043 1,455 2,765 2,894
263 303 319 306 413 415 443 0 2 3
CWIP 41 39 92 159 24 27 11 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0
175 233 296 399 441 707 589 1,455 2,763 2,891
Total Assets 479 575 707 864 878 1,149 1,043 1,455 2,765 2,894

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
54 56 9 1 26 20 218 -115 967
-117 -110 -61 -53 -27 -88 -89 16 -28
65 57 50 69 -8 166 -189 277 0
Net Cash Flow 1 3 -2 17 -9 97 -60 178 939
Free Cash Flow -56 -58 -59 -52 -6 -13 149 -183 944
CFO/OP 129% 82% 14% 8% 36% 22% 19,033% -4,105% -677%

Ratios

Consolidated / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
Debtor Days 35 45 66 76 71 70 2,942 1 100
Inventory Days 22 26 24 30 35 43 1,890 0 1
Days Payable 28 19 24 29 20 17 962 21 103
Cash Conversion Cycle 29 53 66 76 85 96 3,870 -20 -2
Working Capital Days 35 42 67 83 103 109 4,314 1,166 -328
ROCE % 11% 10% 10% 10% 9% 5% 6% -14%

Insights

In beta
Mar 2008 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
B2C share of revenue
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Average daily milk procurement
million litres per day
Number of distributors
count ・Standalone data
Number of farmers (procurement base)
count ・Standalone data
Number of bulk milk coolers
count ・Standalone data
Value-added products share of revenue
%
Milk procurement price
Rs per litre ・Standalone data
Number of modern trade outlets
count ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021
50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10% 50.10%
7.91% 7.92% 7.13% 5.31% 4.78% 4.56% 4.55% 4.50% 4.35% 4.29% 4.29% 1.96%
2.53% 5.39% 4.75% 3.64% 3.82% 3.73% 3.45% 3.71% 3.75% 3.32% 2.77% 0.72%
39.46% 36.59% 38.02% 40.95% 41.30% 41.61% 41.90% 41.69% 41.80% 42.29% 42.84% 47.22%
No. of Shareholders 22,24522,02623,41224,05622,80520,10517,90317,16316,84216,26815,97813,344

* 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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Concalls

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