Modern Insulators

₹119.8 1.2 | 1%

WEBSITE BSE:515008 NSE : MOD.INSUL. 18 May, 12:50

Market Cap ₹565 Cr.

Stock P/E 17.4

P/B 1.4

Current Price ₹119.8

Book Value ₹ 86.7

Face Value 10

52W High ₹139

Dividend Yield 0%

52W Low ₹ 45.6

Edit Ratio

Modern Insulators Research see more...

Overview Inc. Year: 1982Industry: Electronics - Components

Modern Insulators Ltd manufactures and sells porcelain insulators in India. It operates in 2 segments, Insulators and Terry Towels. The corporation offers hollow porcelain insulators which are used in modern transformers, voltage transformers, capacitive voltage transformers, SF6 and non-SF6 circuit breakers, surge arresters, electricity transformer bushings, and wall through bushings; and solidcore post insulators which might be utilized in isolators, pantographs, bus bar supports, wave entice supports, capacitor financial institution helps, and line submit insulators. It also offers long rod insulators to be used in high voltage transmission traces; and live arm, bracket, 9 tonne, sectioning, post, and working rod insulators for railway programs. The organisation serves software, railway, OEM, and EPC businesses. It additionally exports its products to about 50 nations. The organization incorporated in 1982 and is located in Mumbai, India.

Modern Insulators Share Price

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Peer Comparison

Modern Insulators 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	106	115	121	101	100	107	123	90	106	107
Other Income	1	2	3	2	4	3	5	3	3	3
Total Income	107	117	124	103	104	110	127	92	109	110
Total Expenditure	100	114	114	100	97	97	113	85	101	97
Operating Profit	7	3	10	3	7	13	15	7	9	13
Interest	1	1	1	1	1	1	1	1	1	1
Depreciation	2	2	2	2	2	2	2	2	2	2
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	4	-0	7	0	4	10	11	3	6	10
Provision for Tax	1	-0	-2	-1	-1	0	-1	-0	-0	0
Profit After Tax	3	0	9	1	5	10	12	4	6	10
Adjustments	0	0	0	0	0	0	0	-0	0	0
Profit After Adjustments	3	0	9	1	5	10	12	4	6	10
Adjusted Earnings Per Share	0.6	0	1.8	0.2	1	2.1	2.6	0.8	1.3	2.1

Modern Insulators Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	459	418	461	440	398	442	431	426
Other Income	5	6	7	6	15	12	15	14
Total Income	464	424	468	446	413	453	446	438
Total Expenditure	419	382	420	404	359	419	408	396
Operating Profit	46	42	48	42	54	35	39	44
Interest	12	19	13	13	9	5	4	4
Depreciation	8	9	8	10	11	9	9	8
Exceptional Income / Expenses	-10	0	5	0	0	0	0	0
Profit Before Tax	16	14	32	19	35	21	26	30
Provision for Tax	2	-3	2	-4	0	-1	-2	-1
Profit After Tax	14	17	29	22	34	22	28	32
Adjustments	0	-0	0	0	0	0	0	0
Profit After Adjustments	14	17	29	22	34	22	28	32
Adjusted Earnings Per Share	6.5	7.7	13.4	4.8	7.2	4.7	5.9	6.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-2%	-1%	1%	0%
Operating Profit CAGR	11%	-2%	-1%	0%
PAT CAGR	27%	8%	10%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	146%	43%	NA%	NA%
ROE Average	7%	8%	9%	8%
ROCE Average	8%	9%	10%	10%

Modern Insulators Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	219	236	265	305	339	361	389
Minority's Interest	0	0	0	0	0	0	0
Borrowings	0	0	0	1	1	0	0
Other Non-Current Liabilities	34	31	29	49	50	50	48
Total Current Liabilities	100	113	108	176	101	95	67
Total Liabilities	353	380	402	530	491	506	504
Fixed Assets	132	138	135	192	182	175	168
Other Non-Current Assets	38	51	71	61	59	66	75
Total Current Assets	183	192	196	277	250	265	261
Total Assets	353	380	402	530	491	506	504

Modern Insulators Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	6	7	4	15	1	2	4
Cash Flow from Operating Activities	44	-2	9	27	53	14	23
Cash Flow from Investing Activities	-19	-13	-8	-34	35	-8	-4
Cash Flow from Financing Activities	-23	12	-1	-7	-87	-3	-22
Net Cash Inflow / Outflow	1	-3	0	-14	1	3	-3
Closing Cash & Cash Equivalent	7	4	5	1	2	4	1

Modern Insulators Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	6.47	7.65	13.43	4.76	7.24	4.66	5.93
CEPS(Rs)	10.26	11.97	17.23	6.96	9.5	6.51	7.77
DPS(Rs)	0	0	0	0	0	0	0
Book NAV/Share(Rs)	100.69	108.34	121.77	64.75	71.81	76.48	82.44
Core EBITDA Margin(%)	8.11	7.87	8.12	8.14	9.94	5.16	5.43
EBIT Margin(%)	5.43	7.12	8.76	7.19	10.99	5.85	6.92
Pre Tax Margin(%)	3.12	3.05	6.24	4.25	8.66	4.67	5.96
PAT Margin (%)	2.79	3.63	5.76	5.11	8.57	4.98	6.49
Cash Profit Margin (%)	4.43	5.68	7.39	7.46	11.23	6.95	8.5
ROA(%)	3.99	4.54	7.46	4.82	6.69	4.41	5.54
ROE(%)	6.43	7.32	11.67	7.88	10.6	6.29	7.46
ROCE(%)	10.2	11.57	14.32	8.66	11.4	6.9	7.62
Receivable days	47.82	51.68	50.71	67.18	81.86	80.2	86.77
Inventory Days	53.58	66.04	60.45	85.34	112.78	98.96	101.69
Payable days	54.78	70.79	55.72	115.72	131.09	111.49	93.27
PER(x)	0	0	0	0	6.24	10.3	7.02
Price/Book(x)	0	0	0	0	0.63	0.63	0.5
Dividend Yield(%)	0	0	0	0	0	0	0
EV/Net Sales(x)	0.14	0.19	0.17	0.33	0.58	0.55	0.46
EV/Core EBITDA(x)	1.38	1.86	1.59	3.46	4.24	7.06	5.15
Net Sales Growth(%)	0	-9.01	10.31	-4.62	-9.38	10.83	-2.41
EBIT Growth(%)	0	19.41	36.17	-28.8	38.51	-41.05	15.6
PAT Growth(%)	0	18.3	75.49	-23.13	52.03	-35.61	27.16
EPS Growth(%)	0	18.3	75.5	-64.54	52.03	-35.61	27.17
Debt/Equity(x)	0.22	0.26	0.22	0.33	0.07	0.07	0.02
Current Ratio(x)	1.83	1.69	1.81	1.58	2.48	2.8	3.88
Quick Ratio(x)	1.09	0.88	1.11	0.84	1.32	1.5	2.14
Interest Cover(x)	2.36	1.75	3.48	2.45	4.71	4.97	7.19
Total Debt/Mcap(x)	0	0	0	0	0.11	0.11	0.04

Modern Insulators Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	60.2	60.2	60.2	60.2	60.2	60.2	60.2	60.2	60.2	60.2
FII	0.31	0.31	0.31	0	0	0	0	0	0	0
DII	3.97	3.59	2.22	2.82	3.08	3.03	2.82	2.54	2.54	2.24
Public	35.52	35.89	37.26	36.97	36.72	36.77	36.98	37.26	37.26	37.55
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	2.84	2.84	2.84	2.84	2.84	2.84	2.84	2.84	2.84	2.84
FII	0.01	0.01	0.01	0	0	0	0	0	0	0
DII	0.19	0.17	0.1	0.13	0.15	0.14	0.13	0.12	0.12	0.11
Public	1.67	1.69	1.76	1.74	1.73	1.73	1.74	1.76	1.76	1.77
Others	0	0	0	0	0	0	0	0	0	0
Total	4.71	4.71	4.71	4.71	4.71	4.71	4.71	4.71	4.71	4.71

Pros

Debtor days have improved from 111.49 to 93.27days.
Company is almost debt free.

Cons

Company has a low return on equity of 8% over the last 3 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.