Machino Plastics

₹248 -8.6 | 3.4%

WEBSITE BSE:523248 NSE : MACHINO PLAS 18 May, 12:50

Market Cap ₹152 Cr.

Stock P/E 67.3

P/B 3.5

Current Price ₹248

Book Value ₹ 71.1

Face Value 10

52W High ₹288

Dividend Yield 0%

52W Low ₹ 114.5

Edit Ratio

Machino Plastics Research see more...

Overview Inc. Year: 2003Industry: Auto Ancillary

Machino Plastics Limited is a leading Indian manufacturer and exporter of high-quality plastic products for diverse industrial applications. Established in 1986 and headquartered in Ghaziabad, company has earned a reputation for their innovative yet commercially scalable solutions, technical expertise, and commitment to customer satisfaction. Origins can be traced back to the entrepreneurial vision of its founder, Ravi Kapoor, who recognized the immense potential of plastic industry and its vital role in various sectors especially automotive sector. Machino Plastics has grown into a respected name, serving clients across India and several international markets. Portfolio encompasses a wide range of plastic components and solutions, including injection-molded parts, blow-molded products, and extruded components. The company's state-of-the-art manufacturing facilities are equipped with advanced machinery and cutting-edge technologies, ensuring adherence to stringent quality standards and precise engineering tolerances.

Machino Plastics Share Price

New

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

Show Value Show %

Peer Comparison

Machino Plastics Quarterly Results

#(Fig in Cr.)	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Jun 2023	Dec 2023
Net Sales	71	48	67	73	77	89	81	81	89	84
Other Income	0	0	0	0	0	0	0	0	0	0
Total Income	71	48	67	73	77	89	81	81	89	84
Total Expenditure	64	46	62	69	72	83	75	76	82	77
Operating Profit	7	3	5	4	5	6	5	5	6	7
Interest	2	2	2	2	1	2	2	2	2	1
Depreciation	4	3	3	3	3	3	3	3	4	4
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	2	-2	-0	-1	0	1	0	0	1	2
Provision for Tax	-1	0	-0	-1	-0	0	0	0	0	1
Profit After Tax	3	-2	-0	-0	1	1	0	0	1	1
Adjustments	0	-0	0	0	0	0	0	0	0	0
Profit After Adjustments	3	-2	-0	-0	1	1	0	0	1	1
Adjusted Earnings Per Share	4.4	-4	-0.4	-0.5	0.8	1.7	0	0.6	1.3	1.8

Machino Plastics Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	170	166	196	205	259	306	303	242	210	265	331	335
Other Income	1	0	0	0	0	0	0	1	0	0	0	0
Total Income	170	167	197	205	259	306	303	243	210	266	332	335
Total Expenditure	154	153	178	185	233	278	277	224	194	249	310	310
Operating Profit	17	14	19	20	27	28	26	19	17	17	21	23
Interest	5	5	5	2	4	7	7	8	7	6	6	7
Depreciation	13	13	11	13	13	19	19	20	15	14	13	14
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	-1	-4	2	5	10	2	0	-9	-6	-3	2	3
Provision for Tax	0	-2	-0	4	5	-3	-0	-4	-2	-1	1	1
Profit After Tax	-1	-2	2	1	5	5	0	-5	-4	-2	2	2
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	-1	-2	2	1	5	5	0	-5	-4	-2	2	2
Adjusted Earnings Per Share	-2.2	-3.9	3.8	2.3	7.7	7.8	0.7	-7.4	-6.7	-4	2.6	3.7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	25%	11%	2%	7%
Operating Profit CAGR	24%	3%	-6%	2%
PAT CAGR	0%	0%	-17%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	107%	42%	14%	23%
ROE Average	4%	-4%	-4%	0%
ROCE Average	7%	3%	3%	5%

Machino Plastics Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	58	56	58	54	58	61	61	56	52	49	51
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	25	12	12	9	60	45	42	35	35	27	15
Other Non-Current Liabilities	7	5	3	7	10	8	8	6	4	2	2
Total Current Liabilities	38	56	44	43	68	81	97	75	82	95	110
Total Liabilities	128	130	117	114	197	196	208	173	172	172	178
Fixed Assets	94	86	83	77	132	121	141	132	118	106	97
Other Non-Current Assets	8	15	9	7	8	8	8	3	3	3	3
Total Current Assets	27	28	26	30	56	66	59	38	51	64	78
Total Assets	128	130	117	114	197	196	208	173	172	172	178

Machino Plastics Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	2	0	4	3	4	10	6	0	0	2
Cash Flow from Operating Activities	23	19	17	22	-8	34	29	28	0	19	17
Cash Flow from Investing Activities	-12	-12	-1	-8	-64	-8	-39	-1	-1	-2	-4
Cash Flow from Financing Activities	-11	-8	-12	-15	72	-19	5	-32	1	-14	-13
Net Cash Inflow / Outflow	0	-2	3	-0	0	7	-4	-6	0	2	0
Closing Cash & Cash Equivalent	2	0	4	3	4	10	6	0	0	2	2

Machino Plastics Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	-2.16	-3.93	3.77	2.26	7.75	7.83	0.66	-7.36	-6.69	-4.04	2.6
CEPS(Rs)	19.2	17.55	22.27	22.76	28.81	38.9	32.35	24.64	18.01	18.15	23.57
DPS(Rs)	0	0	1	1	2	1	1	0	0	0	0
Book NAV/Share(Rs)	70.77	66.84	69.4	71.89	78.51	84.03	83.66	75.39	68.72	64.09	67.08
Core EBITDA Margin(%)	8.19	7.09	8.02	8.29	8.72	8.76	8.46	7.56	7.82	6.19	6.41
EBIT Margin(%)	1.9	0.38	3.18	3.08	4.53	2.85	2.2	-0.35	0.67	1.13	2.6
Pre Tax Margin(%)	-0.46	-2.06	0.82	2.11	3.19	0.56	0.04	-3.52	-2.74	-1.3	0.65
PAT Margin (%)	-0.68	-1.25	1.02	0.58	1.58	1.51	0.13	-1.87	-1.95	-0.93	0.48
Cash Profit Margin (%)	6	5.59	6.02	5.82	5.86	7.51	6.55	6.25	5.26	4.2	4.37
ROA(%)	-1.03	-1.87	1.88	1.2	3.07	2.45	0.2	-2.37	-2.38	-1.44	0.91
ROE(%)	-3.01	-5.72	5.54	3.2	10.3	9.63	0.79	-9.26	-9.28	-6.08	3.96
ROCE(%)	3.81	0.76	7.98	8.84	11.42	5.77	4.18	-0.56	1.01	2.17	6.59
Receivable days	22.8	28.95	23.72	18.39	28.94	45.16	49.44	47.66	51.13	48.82	46.7
Inventory Days	11.43	11.94	10.28	9.39	7.32	8.2	11.07	14.91	20.52	23.37	23.18
Payable days	7.12	12.52	10.11	4.5	5.66	8.87	15.34	19.58	16.05	22.93	37.82
PER(x)	0	0	10.81	63.33	38.1	27.45	188.14	0	0	0	41.16
Price/Book(x)	0.4	0.33	0.59	1.99	3.76	2.56	1.49	0.6	1.27	1.6	1.6
Dividend Yield(%)	0	0	2.45	0.7	0.68	0.47	0.8	0	0	0	0
EV/Net Sales(x)	0.4	0.39	0.34	0.56	1.12	0.73	0.61	0.49	0.73	0.58	0.46
EV/Core EBITDA(x)	4.06	4.69	3.57	5.74	10.88	7.93	7.08	6.3	9.23	9.29	7.02
Net Sales Growth(%)	11.33	-1.9	18.08	4.19	26.53	18.12	-1	-20.1	-13.12	26.21	24.84
EBIT Growth(%)	-13.63	-80.62	895.16	2.46	85	-33.83	-26.35	-112.62	267.99	111.48	188.21
PAT Growth(%)	-32.58	-81.84	195.95	-40.09	242.71	1	-91.51	-1208.23	9.15	39.64	164.39
EPS Growth(%)	-32.58	-81.84	195.95	-40.09	242.71	1	-91.51	-1208.17	9.15	39.64	164.4
Debt/Equity(x)	1.24	1.27	1.06	0.8	2.32	1.97	2.23	1.96	2.37	2.37	2.13
Current Ratio(x)	0.7	0.5	0.59	0.69	0.83	0.82	0.61	0.51	0.63	0.67	0.71
Quick Ratio(x)	0.53	0.39	0.44	0.55	0.74	0.72	0.51	0.38	0.45	0.46	0.5
Interest Cover(x)	0.8	0.15	1.35	3.18	3.38	1.24	1.02	-0.11	0.2	0.46	1.33
Total Debt/Mcap(x)	3.09	3.79	1.81	0.4	0.62	0.77	1.49	3.26	1.87	1.48	1.33

Machino Plastics Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	74.44	74.44	74.44	74.44	74.44	74.72	74.74	74.82	74.86	75
FII	0	0	0	0	0	0	0	0	0	0
DII	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Public	25.54	25.54	25.54	25.54	25.54	25.27	25.25	25.16	25.13	24.99
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.46	0.46	0.46	0.46	0.46	0.46	0.46	0.46	0.46	0.46
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.16	0.16	0.16	0.16	0.16	0.16	0.15	0.15	0.15	0.15
Others	0	0	0	0	0	0	0	0	0	0
Total	0.61	0.61	0.61	0.61	0.61	0.61	0.61	0.61	0.61	0.61

Pros

Company has reduced debt.

Cons

Company has a low return on equity of -4% over the last 3 years.
Debtor days have increased from 22.93 to 37.82days.
Stock is trading at 3.5 times its book value.
The company has delivered a poor profit growth of -16% over past five 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.