Master Trust

₹730 2.1 | 0.3%

WEBSITE BSE:511768 NSE : MASTER TRUST 18 May, 12:50

Market Cap ₹1588 Cr.

Stock P/E 18.3

P/B 3.6

Current Price ₹730

Book Value ₹ 201.5

Face Value 5

52W High ₹826

Dividend Yield 0%

52W Low ₹ 128.3

Edit Ratio

Master Trust Research see more...

Overview Inc. Year: 1985Industry: Finance - NBFC

Master Trust Ltd is an totally India-based financial offerings organization. The Company is mainly engaged in presenting interest on loans and advances. The Company's business segments consist of Brokerage & Allied, Interest and Others. The Company's retail services and products encompass equity investments, insurance, commodity futures, depository offerings, equipment and calculator, and customer care. The Company's institutional products and services include corporate advisory and merchant banking, institutional equity broking, and insurance broker. Its equity investments consist of diverse options to exchange in stocks, which encompass delivery trades, intra-day trade, mortgage in opposition to stocks and margin trade finance (MTF). Its coverage products consist of general coverage products and life coverage merchandise. Its gear and calculator includes stock screeners, mutual fund screeners, charting, risk calculator, retirement planning, education calculator, and information and market observation.

Master Trust Share Price

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Peer Comparison

Master Trust Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Operating Revenue	93	84	81	79	82	87	91	92	120	124
Other Income	0	0	0	0	0	0	0	0	0	0
Total Income	93	84	81	79	82	87	91	92	120	124
Total Expenditure	59	58	55	55	51	55	58	55	75	71
Operating Profit	33	27	27	25	30	32	33	37	46	53
Interest Expense	11	9	7	6	8	8	10	12	14	15
Depreciation	1	1	0	1	1	1	1	1	1	1
Profit Before Tax	21	17	19	18	22	23	22	25	31	37
Provision for Tax	5	4	5	4	5	4	5	6	7	9
Profit After Tax	16	13	14	13	17	19	17	19	23	28
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	16	13	14	13	17	19	17	19	23	28
Adjusted Earnings Per Share	7.2	6.1	6.5	6.2	7.8	8.6	7.6	8.8	10.7	12.7

Master Trust 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
Operating Revenue	93	87	115	104	111	160	134	136	225	331	339	427
Other Income	6	4	0	0	0	2	1	0	1	0	0	0
Total Income	98	91	115	104	111	162	135	136	226	331	339	427
Total Expenditure	69	65	81	82	85	127	101	103	162	222	219	259
Operating Profit	29	25	33	22	26	35	34	33	63	109	120	169
Interest Expense	17	14	19	14	15	19	13	18	19	35	33	51
Depreciation	1	1	4	2	2	3	1	2	1	2	3	4
Profit Before Tax	11	10	10	5	9	13	20	13	43	72	85	115
Provision for Tax	1	1	0	2	3	3	3	1	9	17	19	27
Profit After Tax	10	8	9	4	6	10	17	12	34	55	66	87
Adjustments	-0	-0	-0	-0	-0	-0	-0	-0	0	0	-0	0
Profit After Adjustments	10	8	9	4	6	10	17	12	34	55	66	87
Adjusted Earnings Per Share	4.6	3.9	4.3	1.6	2.7	4.6	7.6	5.7	15.8	25.4	30.3	39.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	2%	36%	16%	14%
Operating Profit CAGR	10%	54%	28%	15%
PAT CAGR	20%	77%	46%	21%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	453%	151%	113%	47%
ROE Average	20%	18%	14%	9%
ROCE Average	26%	24%	19%	14%

Master Trust 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	151	158	167	171	177	185	207	214	256	300	365
Minority's Interest	0	1	1	1	1	1	1	1	0	0	2
Borrowings	38	42	43	46	60	46	41	48	56	65	70
Current Liability	205	246	206	210	227	258	325	294	472	663	793
Other Liabilities & Provisions	1	1	0	0	-0	-0	-3	-2	2	-0	-1
Total Liabilities	395	448	418	428	464	491	572	555	786	1027	1229
Loans	0	0	0	0	0	0	0	0	0	0	0
Investments	45	48	18	23	25	21	40	27	23	7	6
Fixed Assets	13	13	11	10	9	8	10	10	10	12	14
Other Loans	8	10	13	9	8	6	6	11	9	11	12
Other Non Current Assets	0	0	0	0	0	0	0	0	0	0	0
Current Assets	330	376	376	386	423	456	515	507	744	989	1188
Total Assets	395	448	418	428	464	491	572	555	786	1027	1229

Master Trust 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	118	83	99	120	174	228	233	295	29	16	7
Cash Flow from Operating Activities	-11	22	-8	54	52	-2	82	14	-24	-15	10
Cash Flow from Investing Activities	-24	-5	29	1	2	7	-18	19	12	6	3
Cash Flow from Financing Activities	-1	-0	-1	0	0	0	-1	0	0	0	0
Net Cash Inflow / Outflow	-36	17	21	54	54	5	62	33	-13	-9	13
Closing Cash & Cash Equivalent	83	99	120	174	228	233	295	328	16	7	19

Master Trust 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)	4.61	3.88	4.31	1.63	2.68	4.62	7.64	5.66	15.8	25.37	30.29
CEPS(Rs)	5.11	4.43	6.39	2.49	3.56	5.92	8.37	6.4	16.41	26.27	31.5
DPS(Rs)	0.5	0.5	0	0	0	0.5	0	0	0	0	0
Book NAV/Share(Rs)	69.29	72.44	76.78	78.43	81.14	85.15	94.92	98.39	117.4	137.78	167.7
Net Profit Margin	10.83	9.75	8.24	3.46	5.25	6.3	12.45	9.06	15.29	16.65	19.42
Operating Margin	30.52	27.86	25.15	19.07	21.79	20.08	24.36	22.99	27.61	32.32	34.61
PBT Margin	11.91	11.41	8.48	5.11	7.91	8.13	14.53	9.89	19.09	21.71	24.96
ROA(%)	2.48	2.01	2.18	0.85	1.31	2.11	3.15	2.18	5.13	6.09	5.84
ROE(%)	6.86	5.5	5.82	2.13	3.36	5.57	8.55	5.86	14.65	19.88	19.83
ROCE(%)	12.25	9.6	9.78	7.03	9.54	12.72	12.37	10.53	18.58	28.68	25.51
Price/Earnings(x)	4.1	3.11	3.03	12.36	5.38	9.75	2.16	2.31	3	5.1	3.97
Price/Book(x)	0.27	0.17	0.17	0.26	0.18	0.53	0.17	0.13	0.4	0.94	0.72
Dividend Yield(%)	2.65	4.15	0	0	0	1.11	0	0	0	0	0
EV/Net Sales(x)	0.31	0.6	0.42	-0.44	-1.1	-0.41	-1.41	-1.44	-1.68	-1.38	-1.75
EV/Core EBITDA(x)	0.98	2.06	1.43	-2.1	-4.68	-1.89	-5.55	-5.97	-5.97	-4.19	-4.95
Interest Earned Growth(%)	-0.21	-6.18	31.85	-9.59	7.1	44.21	-15.99	1.04	65.46	47.41	2.4
Net Profit Growth	-13.96	-15.55	11.39	-61.99	62.51	72.82	66.13	-26.47	179.21	60.53	19.42
EPS Growth(%)	-13.99	-15.91	11.26	-62.1	63.85	72.41	65.54	-25.96	179.23	60.53	19.41
Interest Coverage(x) %	1.64	1.69	1.51	1.37	1.57	1.68	2.48	1.76	3.24	3.05	3.59

Master Trust Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	74.84	74.84	74.84	74.84	74.84	74.84	74.83	74.83	74.83	74.83
FII	0	0	0	0	0	0	0	0	0	0.06
DII	0.03	0.03	0.03	0.03	0.03	0.02	0	0	0.06	0
Public	25.14	25.14	25.14	25.14	25.14	25.14	25.17	25.17	25.11	25.11
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	1.63	1.63	1.63	1.63	1.63	1.63	1.63	1.63	1.63	1.63
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.55
Others	0	0	0	0	0	0	0	0	0	0
Total	2.18	2.18	2.18	2.18	2.18	2.18	2.18	2.18	2.18	2.18

Pros

Company has delivered good profit growth of 45% CAGR over last 5 years
Company is almost debt free.

Cons

Stock is trading at 3.6 times its book value.

* 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.