Mandhana Retail Ventures Ltd

About

Mandhana Retail Ventures Limited is an India-based retail company. The Company designs, manufactures and sells men's wear, women's wear and accessories under Being Human trademark.

  • Market Cap 29.9 Cr.
  • Current Price 13.6
  • High / Low 25.6 / 7.75
  • Stock P/E
  • Book Value 15.0
  • Dividend Yield 0.00 %
  • ROCE -7.50 %
  • ROE -8.33 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.90 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -71.10% over past five years.
  • Promoter holding is low: 33.17%
  • Company has a low return on equity of -24.96% for last 3 years.
  • Company has high debtors of 1642.50 days.
  • Promoter holding has decreased over last 3 years: -3.37%

Peer comparison

Sector: Retail Industry: Textiles - Products

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Quarterly Results

Figures in Rs. Crores

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
52.66 69.76 49.35 45.65 35.79 57.55 13.08 0.01 0.01 -0.04 0.46 0.00
51.24 67.59 49.99 40.66 36.35 51.09 33.51 2.29 2.00 1.70 2.14 1.50
Operating Profit 1.42 2.17 -0.64 4.99 -0.56 6.46 -20.43 -2.28 -1.99 -1.74 -1.68 -1.50
OPM % 2.70% 3.11% -1.30% 10.93% -1.56% 11.23% -156.19% -22,800.00% -19,900.00% -365.22%
Other Income 0.29 0.16 1.56 0.63 0.73 0.06 7.33 1.71 2.24 0.85 0.34 0.25
Interest 0.53 0.31 1.30 1.50 2.34 1.62 1.68 0.10 0.00 0.00 0.10 0.13
Depreciation 0.96 0.98 0.93 3.88 4.30 4.27 1.57 0.02 0.02 0.01 0.01 0.01
Profit before tax 0.22 1.04 -1.31 0.24 -6.47 0.63 -16.35 -0.69 0.23 -0.90 -1.45 -1.39
Tax % 40.91% 44.23% -6.87% -41.67% -4.33% -57.14% -56.88% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Profit 0.13 0.58 -1.40 0.34 -6.74 1.00 -25.65 -0.68 0.24 -0.90 -1.45 -1.39
EPS in Rs 0.06 0.26 -0.63 0.15 -3.05 0.45 -11.62 -0.31 0.11 -0.41 -0.66 -0.63

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
0.00 0.00 0.00 171.89 218.13 259.59 259.45 219.87 151.90 0.44 0.43
0.09 0.00 0.00 127.82 177.73 232.06 238.90 213.79 160.63 8.11 7.34
Operating Profit -0.09 0.00 0.00 44.07 40.40 27.53 20.55 6.08 -8.73 -7.67 -6.91
OPM % 25.64% 18.52% 10.61% 7.92% 2.77% -5.75% -1,743.18% -1,606.98%
Other Income 0.00 0.00 0.00 0.92 1.23 1.77 1.01 0.97 8.50 5.13 3.68
Interest 0.00 0.00 0.00 11.47 5.88 3.08 2.37 3.09 7.70 0.20 0.23
Depreciation 0.00 0.00 0.00 2.35 2.99 3.40 3.67 3.86 14.01 0.05 0.05
Profit before tax -0.09 0.00 0.00 31.17 32.76 22.82 15.52 0.10 -21.94 -2.79 -3.51
Tax % 0.00% 35.29% 34.65% 38.74% 41.75% 690.00% -41.52% 0.00%
Net Profit -0.09 0.00 0.00 20.17 21.42 13.98 9.03 -0.59 -31.05 -2.79 -3.50
EPS in Rs 6.33 4.09 -0.27 -14.06 -1.26 -1.59
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years:%
5 Years:-71%
3 Years:-88%
TTM:-100%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:89%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:-33%
1 Year:56%
Return on Equity
10 Years:%
5 Years:-5%
3 Years:-25%
Last Year:-8%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0.05 0.05 0.05 0.05 0.05 22.08 22.08 22.08 22.08 22.08
Reserves -0.09 -0.09 -0.09 42.16 63.58 36.21 45.34 44.76 13.93 11.07
Borrowings 0.04 0.04 0.04 38.90 19.93 8.08 7.50 8.46 2.29 0.00
0.00 0.00 0.00 29.74 64.25 66.74 59.41 45.22 19.18 10.90
Total Liabilities 0.00 0.00 0.00 110.85 147.81 133.11 134.33 120.52 57.48 44.05
0.00 0.00 0.00 21.81 24.68 24.86 26.05 22.58 1.70 0.15
CWIP 0.00 0.00 0.00 0.00 0.00 0.04 0.01 0.01 0.00 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 89.04 123.13 108.21 108.27 97.93 55.78 43.90
Total Assets 0.00 0.00 0.00 110.85 147.81 133.11 134.33 120.52 57.48 44.05

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-0.08 0.00 0.00 10.33 31.44 15.50 8.54 2.03 23.68 12.20
0.00 0.00 0.00 -38.20 -5.86 -3.52 -5.19 -1.57 -5.32 -15.15
0.09 0.00 0.01 28.37 -25.90 -11.72 -2.35 -1.50 -13.32 -2.42
Net Cash Flow 0.00 0.00 0.00 0.50 -0.32 0.27 0.99 -1.04 5.04 -5.37

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 99.95 110.61 19.28 28.02 36.67 15.16 1,642.50
Inventory Days 108.36 126.86 215.58 180.67 152.75 0.81 0.00
Days Payable 56.24 94.13 144.88 143.55 139.96 62.92
Cash Conversion Cycle 152.07 143.34 89.98 65.15 49.47 -46.95 1,642.50
Working Capital Days 106.41 87.80 38.58 51.46 70.15 75.57 13,388.86
ROCE % 105.14% 46.93% 34.55% 25.72% 5.84% -24.47% -7.50%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
34.28 34.07 32.73 31.96 31.96 31.03 28.77 28.31 33.17 33.17 33.17 33.17
3.02 3.02 3.02 3.02 3.02 3.02 0.42 0.42 0.42 0.42 0.42 0.42
2.00 2.00 2.00 1.99 2.00 1.99 1.99 1.99 1.99 1.99 0.58 0.00
60.70 60.92 62.25 63.03 63.02 63.96 68.82 69.28 64.42 64.42 65.83 66.41

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