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Maithan Alloys

₹1187.4 55.4 | 4.9%

Market Cap ₹3457 Cr.

Stock P/E 9.9

P/B 0.9

Current Price ₹1187.4

Book Value ₹ 1279.5

Face Value 10

52W High ₹1358

Dividend Yield 0.51%

52W Low ₹ 956

Maithan Alloys Research see more...

Overview Inc. Year: 1985Industry: Ferro & Silica Manganese

Maithan Alloys Ltd is a holding company. The Company is engaged in the business of manufacturing and exporting of all 3 bulk Ferro alloys, which includes Ferro Silicon, Ferro Manganese and Silico Manganese, and has a captive power plant. It operates via 2 segments: Ferro Alloys and Wind Mill. It is likewise engaged in the technology and delivery of wind power. Ferro manganese is alloy of manganese and iron, that is used in chrome steel and flat merchandise. Silico manganese is an alloy of manganese, silicon and iron, that's used in all steel merchandise, with higher quantities in 200 collection stainless steel, alloy metal and manganese metallic. Ferro silicon is an alloy of silicon and iron, which is utilized in special steels and in small portions in mid metallic. Its subsidiaries include Anjaney Minerals Ltd and AXL Exploration Pvt Ltd, which might be engaged in export, import, production, processing, sale, buy, distribution and working in metals and minerals.

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Maithan Alloys Share Price

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Maithan Alloys Quarterly Results

#(Fig in Cr.) Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Net Sales 1020 690 685 535 404 444 448 433 375 464
Other Income 20 50 51 43 44 60 79 174 561 179
Total Income 1040 740 736 577 448 503 527 608 936 643
Total Expenditure 665 584 639 445 363 411 413 427 354 415
Operating Profit 375 156 97 133 85 92 114 181 582 228
Interest 0 0 0 1 0 0 0 1 2 5
Depreciation 5 5 5 5 5 5 5 5 5 6
Exceptional Income / Expenses -91 -11 0 0 0 0 0 0 0 0
Profit Before Tax 280 139 92 126 80 87 108 175 576 217
Provision for Tax 61 30 19 28 20 25 23 33 120 75
Profit After Tax 219 109 73 98 60 62 85 142 456 143
Adjustments -0 0 0 0 -0 -0 0 0 0 1
Profit After Adjustments 219 109 73 98 60 62 85 142 457 144
Adjusted Earnings Per Share 75.2 37.5 25 33.7 20.5 21.3 29.3 48.8 156.8 49.4

Maithan Alloys Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 962 1107 1151 1342 1879 1988 1831 1620 2992 2885 1729 1720
Other Income 3 5 4 8 17 26 66 24 32 175 358 993
Total Income 965 1111 1155 1351 1896 2014 1897 1644 3025 3060 2086 2714
Total Expenditure 909 992 1019 1069 1497 1663 1596 1325 1922 2296 1613 1609
Operating Profit 56 119 136 282 399 351 301 318 1103 764 473 1105
Interest 21 22 17 12 8 8 6 3 3 5 3 8
Depreciation 23 27 23 25 15 16 16 16 17 20 21 21
Exceptional Income / Expenses 0 -4 0 0 0 0 0 0 0 -102 0 0
Profit Before Tax 12 66 96 244 376 327 279 299 1082 637 450 1076
Provision for Tax 1 14 17 64 84 72 57 69 264 138 101 251
Profit After Tax 11 53 79 180 292 255 222 230 818 499 349 826
Adjustments 0 -0 0 0 0 0 0 1 0 0 0 1
Profit After Adjustments 11 53 79 180 292 255 222 231 818 499 349 828
Adjusted Earnings Per Share 3.9 18.1 27.1 61.7 100.2 87.7 76.3 79.3 281 171.4 119.9 284.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -40% 2% -3% 6%
Operating Profit CAGR -38% 14% 6% 24%
PAT CAGR -30% 15% 6% 41%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 4% 7% 21% 29%
ROE Average 12% 25% 22% 23%
ROCE Average 15% 32% 28% 28%

Maithan Alloys Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 277 323 393 585 868 1113 1292 1522 2323 2804 3142
Minority's Interest 4 4 4 1 1 1 1 -0 1 1 1
Borrowings 154 121 82 20 4 4 0 0 0 8 13
Other Non-Current Liabilities -1 2 19 28 28 31 37 39 33 33 61
Total Current Liabilities 353 333 301 268 315 371 186 338 394 293 251
Total Liabilities 787 783 799 902 1215 1519 1516 1898 2751 3140 3468
Fixed Assets 293 280 267 242 238 229 217 203 276 267 253
Other Non-Current Assets 11 11 19 39 42 50 48 45 85 90 185
Total Current Assets 482 492 512 621 935 1240 1251 1650 2390 2780 3030
Total Assets 787 783 799 902 1215 1519 1516 1898 2751 3140 3468

Maithan Alloys Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 22 23 11 35 76 32 17 625 19 88 90
Cash Flow from Operating Activities -4 58 136 126 284 315 -45 117 237 968 -411
Cash Flow from Investing Activities -22 -4 -11 -11 -280 -276 696 -761 -105 -962 371
Cash Flow from Financing Activities 26 -65 -101 -74 -49 -54 -43 37 -62 -5 -9
Net Cash Inflow / Outflow 1 -11 24 41 -44 -15 609 -607 70 1 -49
Closing Cash & Cash Equivalent 23 11 35 76 32 17 625 19 88 90 41

Maithan Alloys Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 3.91 18.07 27.08 61.72 100.24 87.67 76.27 79.3 281.02 171.44 119.88
CEPS(Rs) 11.71 27.33 35.06 70.39 105.54 93.04 81.7 84.39 286.83 178.36 127.01
DPS(Rs) 1 2 2 2.5 3 6 6 6 6 6 6
Book NAV/Share(Rs) 95.12 110.78 135.02 201 298.1 382.18 443.91 522.71 798.03 963.33 1079.32
Core EBITDA Margin(%) 5.28 9.84 10.88 19.45 20.21 16.33 12.82 18.17 35.77 20.41 6.7
EBIT Margin(%) 3.32 7.59 9.29 18.25 20.3 16.86 15.57 18.68 36.28 22.24 26.18
Pre Tax Margin(%) 1.23 5.73 7.92 17.37 19.88 16.44 15.25 18.49 36.17 22.07 26
PAT Margin (%) 1.12 4.54 6.52 12.79 15.43 12.84 12.13 14.2 27.34 17.3 20.19
Cash Profit Margin (%) 3.39 6.87 8.45 14.6 16.25 13.62 12.99 15.17 27.9 18 21.39
ROA(%) 1.49 6.71 9.96 21.12 27.57 18.67 14.63 13.48 35.2 16.94 10.56
ROE(%) 4.14 17.56 22.02 36.72 40.17 25.78 18.47 16.35 42.55 19.46 11.74
ROCE(%) 6.59 16.43 21.01 42.76 48.63 32.98 23.58 21.12 55.8 24.94 15.11
Receivable days 48.13 54.42 60.87 55.11 45.26 45.94 53.55 80.77 68.62 70.35 85.59
Inventory Days 69.68 60.12 49.29 43.89 41.96 46.74 53.61 70.47 62.49 61.98 68.98
Payable days 73.62 70.49 76.66 55.57 39.34 62.71 54.96 56.07 60.34 46.38 48.1
PER(x) 8.23 5.59 4.3 6.82 7.82 5.76 4.59 6.79 4.72 4.63 8.16
Price/Book(x) 0.34 0.91 0.86 2.09 2.63 1.32 0.79 1.03 1.66 0.82 0.91
Dividend Yield(%) 3.1 1.98 1.72 0.59 0.38 1.19 1.71 1.11 0.45 0.76 0.61
EV/Net Sales(x) 0.33 0.43 0.37 0.91 1.21 0.72 0.21 0.98 1.26 0.42 1.62
EV/Core EBITDA(x) 5.59 4.04 3.13 4.32 5.68 4.08 1.29 4.98 3.41 1.57 5.91
Net Sales Growth(%) 1.06 14.99 4 16.62 40 5.8 -7.9 -11.53 84.74 -3.59 -40.08
EBIT Growth(%) -54.11 163.33 27.64 128.25 49.8 -12.69 -14.91 6.14 258.73 -40.91 -29.46
PAT Growth(%) -74.31 365.46 49.71 127.97 62.47 -12.54 -13.01 3.61 255.62 -39 -30.07
EPS Growth(%) -74.33 361.81 49.85 127.9 62.4 -12.54 -13 3.97 254.38 -38.99 -30.08
Debt/Equity(x) 0.93 0.66 0.35 0.14 0.05 0.01 0.01 0.03 0 0.01 0.01
Current Ratio(x) 1.37 1.48 1.7 2.32 2.97 3.34 6.72 4.88 6.07 9.48 12.06
Quick Ratio(x) 0.78 0.95 1.2 1.62 2.18 2.64 5.23 3.85 4.35 8.44 10.67
Interest Cover(x) 1.59 4.08 6.79 20.75 49.07 40.77 48.41 94.87 315.61 134.22 149.36
Total Debt/Mcap(x) 2.75 0.73 0.41 0.07 0.02 0 0.01 0.03 0 0.01 0.01

Maithan Alloys Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99
FII 1.77 1.68 1.54 1.52 1.83 1.88 2.14 1.87 1.8 1.33
DII 0.62 0.59 0.59 0.55 0.56 0.52 0.44 0.15 0.41 0.45
Public 22.62 22.75 22.89 22.95 22.63 22.62 22.43 23 22.81 23.23
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Stock is trading at 0.9 times its book value
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25%
  • Company is almost debt free.

Cons

  • Debtor days have increased from 46.38 to 48.1days.
  • The company has delivered a poor profit growth of 6% 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.

Maithan Alloys News

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