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Mishra Dhatu Nigam

₹406.9 -3.1 | 0.8%

Market Cap ₹7622 Cr.

Stock P/E 68.2

P/B 5.7

Current Price ₹406.9

Book Value ₹ 71.1

Face Value 10

52W High ₹547.5

Dividend Yield 0.82%

52W Low ₹ 202.7

Mishra Dhatu Nigam Research see more...

Overview Inc. Year: 1973Industry: Steel & Iron Products

Mishra Dhatu Nigam Ltd is an primarily India-based enterprise, which is engaged in development, manufacture and delivery of essential alloys and merchandise. The Company's products include Titanium and Titanium Alloys; Electrical and Electronic Alloys; Super alloys; Special Steel; Other Products; and Special Products. Super alloys encompass Nickel Base (Superni), Cobal Base (Superco) and Iron Base (Superfer). Super alloys have software in industries, consisting of aeronautics, space, nuclear, chemical, petrochemical, power generation and furnace. Titanium and Titanium Alloys consist of Pure Titanium. Special Steel consists of Martensitic Steels, Austennitic Steels and Percipitation Hardening Steels. Its other products consist of Molybdenum, Weld Consumables, Magnesium Alloys, Titanium Tubes, Fastners, Ttianium Castings and Columbium Alloy. Its Special merchandise consist of Biomedical implants, Armour Products and Powder Metallurgy Product. The Company also offers testing, assessment and consultancy offerings.

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Mishra Dhatu Nigam Share Price

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Mishra Dhatu Nigam 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
Net Sales 188 234 323 115 181 231 345 188 227 252
Other Income 2 5 16 7 9 9 12 8 8 6
Total Income 190 240 339 122 190 240 357 196 235 258
Total Expenditure 136 171 201 82 122 166 244 146 191 216
Operating Profit 54 68 138 40 68 75 112 50 44 42
Interest 2 3 15 5 6 7 8 9 9 9
Depreciation 7 7 12 12 13 14 14 14 14 14
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 45 58 110 23 49 54 90 27 21 19
Provision for Tax 12 15 29 6 15 15 24 8 7 6
Profit After Tax 34 43 81 18 34 39 66 19 14 12
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 34 43 81 18 34 39 66 19 14 13
Adjusted Earnings Per Share 1.8 2.3 4.3 0.9 1.8 2.1 3.5 1 0.7 0.7

Mishra Dhatu Nigam Profit & Loss

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 711 713 813 859 872 1012
Other Income 37 36 20 31 38 34
Total Income 748 749 833 891 910 1046
Total Expenditure 526 514 567 596 613 797
Operating Profit 221 235 266 295 296 248
Interest 7 7 13 23 27 35
Depreciation 23 26 27 33 53 56
Exceptional Income / Expenses 0 0 0 0 0 0
Profit Before Tax 191 200 226 239 217 157
Provision for Tax 60 42 60 63 61 45
Profit After Tax 131 158 166 177 156 111
Adjustments 0 0 0 0 0 0
Profit After Adjustments 131 158 166 177 156 112
Adjusted Earnings Per Share 7 8.4 8.9 9.4 8.3 5.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 2% 7% 0% 0%
Operating Profit CAGR 0% 8% 0% 0%
PAT CAGR -12% -0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 101% 26% 27% NA%
ROE Average 13% 15% 16% 16%
ROCE Average 16% 19% 19% 19%

Mishra Dhatu Nigam Balance Sheet

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 835 957 1071 1190 1285
Minority's Interest 0 0 0 0 0
Borrowings 1 0 0 28 67
Other Non-Current Liabilities 456 743 745 760 709
Total Current Liabilities 534 697 643 802 801
Total Liabilities 1825 2396 2459 2779 2863
Fixed Assets 425 441 429 938 1016
Other Non-Current Assets 234 441 579 163 104
Total Current Assets 1166 1514 1451 1678 1744
Total Assets 1825 2396 2459 2779 2863

Mishra Dhatu Nigam Cash Flow

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 1 14 10 34 10
Cash Flow from Operating Activities 296 204 176 5 -35
Cash Flow from Investing Activities -205 -195 -115 -68 -3
Cash Flow from Financing Activities -78 -13 -37 39 43
Net Cash Inflow / Outflow 13 -4 24 -24 4
Closing Cash & Cash Equivalent 14 10 34 10 14

Mishra Dhatu Nigam Ratios

# Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 6.97 8.44 8.88 9.43 8.34
CEPS(Rs) 8.21 9.83 10.32 11.19 11.17
DPS(Rs) 2.19 2.56 2.78 3.1 3.35
Book NAV/Share(Rs) 44.56 51.07 57.18 63.5 68.61
Core EBITDA Margin(%) 25.96 27.92 30.24 30.6 29.67
EBIT Margin(%) 27.89 29.14 29.38 30.44 27.97
Pre Tax Margin(%) 26.88 28.12 27.82 27.82 24.88
PAT Margin (%) 18.37 22.18 20.46 20.52 17.92
Cash Profit Margin (%) 21.63 25.84 23.78 24.36 24
ROA(%) 7.16 7.49 6.85 6.74 5.54
ROE(%) 15.64 17.65 16.41 15.63 12.63
ROCE(%) 21.06 20.45 20.58 19.49 15.58
Receivable days 180.87 166.31 153.39 146.84 130.21
Inventory Days 261.27 363.36 384.05 401.3 484.82
Payable days 248.27 393.37 184.92 250.07 375.61
PER(x) 20.24 21.19 19.89 17.54 22.11
Price/Book(x) 3.17 3.5 3.09 2.6 2.69
Dividend Yield(%) 1.55 1.43 1.57 1.87 1.82
EV/Net Sales(x) 3.59 4.73 4.15 3.84 4.39
EV/Core EBITDA(x) 11.52 14.32 12.71 11.21 12.91
Net Sales Growth(%) 0 0.29 14.08 5.69 1.45
EBIT Growth(%) 0 4.79 15.01 9.66 -6.93
PAT Growth(%) 0 21.1 5.26 6.13 -11.52
EPS Growth(%) 0 21.1 5.26 6.12 -11.52
Debt/Equity(x) 0.13 0.14 0.15 0.22 0.3
Current Ratio(x) 2.19 2.17 2.26 2.09 2.18
Quick Ratio(x) 1.23 0.87 1.01 0.73 0.65
Interest Cover(x) 27.55 28.52 18.83 11.61 9.06
Total Debt/Mcap(x) 0.04 0.04 0.05 0.09 0.11

Mishra Dhatu Nigam Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 74 74 74 74 74 74 74 74 74 74
FII 0.25 0.31 0.51 0.52 0.52 0.58 0.96 1.18 0.95 1.08
DII 14.27 14.74 14.59 15.58 13.77 13.82 13.12 12.48 11.84 11.03
Public 11.48 10.95 10.91 9.9 11.71 11.61 11.93 12.34 13.21 13.89
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company is almost debt free.

Cons

  • Debtor days have increased from 250.07 to 375.61days.
  • Stock is trading at 5.7 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.

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