Mafatlal Industries Ltd

₹ 141 -2.25%

21 Nov - close price

About

The Company is engaged in textile manufacturing and trading, having its manufacturing units at Nadiad and Navsari.^[1]

Key Points

History
The co. is a 118+ years old textile manufacturing player in India and part of Arvind Mafatlal Group founded by Mr. Mafatlal Gagalbhai. The company is a part of promoter group of NOCIL Ltd with ~15.16% stake.
^[1]

Website BSE

Market Cap ₹ 1,016 Cr.
Current Price ₹ 141
High / Low ₹ 221 / 97.2
Stock P/E 9.52
Book Value ₹ 132
Dividend Yield 0.71 %
ROCE 6.76 %
ROE 8.20 %
Face Value ₹ 2.00

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Pros

Company is almost debt free.
Stock is trading at 1.07 times its book value
Company is expected to give good quarter
Company has delivered good profit growth of 21.0% CAGR over last 5 years

Cons

Tax rate seems low
Company has a low return on equity of 3.80% over last 3 years.
Earnings include an other income of Rs.39.5 Cr.

* 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.

Peer comparison

Sector: Textiles Industry: Textiles - Composite

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	292	197	393	383	355	292	338	586	309	420	764	452	996
	294	194	378	374	349	287	331	573	301	415	749	427	977
Operating Profit	-2	4	16	9	6	6	7	12	7	6	15	25	18
OPM %	-1%	2%	4%	2%	2%	2%	2%	2%	2%	1%	2%	5%	2%
	40	5	10	17	11	3	13	23	21	20	6	6	8
Interest	6	3	4	4	5	4	5	3	3	5	4	4	3
Depreciation	4	4	4	4	4	4	4	4	4	4	4	4	4
Profit before tax	28	1	18	19	9	1	12	27	21	17	14	24	20
Tax %	5%	0%	3%	15%	0%	0%	0%	0%	0%	0%	-145%	-29%	-0%
	27	1	17	16	9	1	12	27	21	17	33	30	20
EPS in Rs	3.83	0.17	2.44	2.25	1.23	0.13	1.66	3.89	2.96	2.39	4.65	4.23	2.78
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	797	920	1,013	1,323	1,238	1,168	1,024	1,006	603	1,003	1,372	2,079	2,632
	750	892	995	1,283	1,223	1,175	1,085	1,012	650	991	1,343	2,033	2,568
Operating Profit	47	28	19	40	15	-8	-61	-7	-47	12	28	46	64
OPM %	6%	3%	2%	3%	1%	-1%	-6%	-1%	-8%	1%	2%	2%	2%
	50	25	40	21	43	33	-53	42	-5	54	45	64	39
Interest	32	15	17	21	27	31	30	31	22	19	18	15	15
Depreciation	14	18	17	21	32	36	36	17	17	16	15	15	15
Profit before tax	51	20	25	19	-1	-42	-180	-13	-91	32	40	79	74
Tax %	26%	-18%	5%	9%	-908%	-0%	0%	3%	3%	9%	7%	-25%
	37	23	24	17	4	-42	-180	-14	-94	29	37	99	101
EPS in Rs	7.57	3.24	3.43	2.46	0.59	-6.00	-25.87	-1.97	-13.50	4.09	5.26	13.81	14.05
Dividend Payout %	13%	19%	18%	24%	68%	-7%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	8%
5 Years:	15%
3 Years:	51%
TTM:	73%

Compounded Profit Growth
10 Years:	14%
5 Years:	21%
3 Years:	41%
TTM:	73%

Stock Price CAGR
10 Years:	16%
5 Years:	60%
3 Years:	61%
1 Year:	-2%

Return on Equity
10 Years:	-3%
5 Years:	-1%
3 Years:	4%
Last Year:	8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	10	14	14	14	14	14	14	14	14	14	14	14	14
Reserves	315	332	350	362	576	785	493	271	453	672	600	800	934
	135	122	148	224	250	234	207	150	148	113	94	82	88
	174	186	251	331	358	360	292	381	330	424	466	910	1,060
Total Liabilities	633	655	762	932	1,198	1,392	1,006	816	944	1,223	1,175	1,806	2,096
	93	158	165	213	318	298	139	138	122	98	95	86	85
CWIP	63	15	36	9	8	7	1	0	0	0	0	0	0
Investments	48	47	46	46	284	502	374	168	444	633	523	631	736
	428	435	515	663	588	585	493	510	378	493	557	1,089	1,276
Total Assets	633	655	762	932	1,198	1,392	1,006	816	944	1,223	1,175	1,806	2,096

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	16	12	7	-35	88	12	8	24	7	10	-7	159
	6	-51	-7	-21	-73	49	40	84	31	61	36	-2
	-25	-38	4	52	-11	-52	-57	-91	-29	-52	-34	-23
Net Cash Flow	-3	-78	4	-5	4	9	-9	17	8	18	-5	133

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	56	55	72	86	85	89	70	92	131	93	76	112
Inventory Days	82	78	69	65	76	76	52	49	17	33	36	17
Days Payable	78	81	108	115	111	125	106	146	173	159	126	161
Cash Conversion Cycle	60	53	33	35	50	40	15	-4	-24	-34	-14	-32
Working Capital Days	35	38	32	44	42	43	42	17	-16	-12	3	-19
ROCE %	18%	6%	3%	6%	1%	-2%	-8%	2%	-9%	2%	5%	7%

Shareholding Pattern

Numbers in percentages

7 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	71.29%	71.10%	71.03%	70.97%	70.97%	70.85%	70.85%	70.74%	70.16%	69.96%	69.61%	69.60%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.90%	0.85%	0.85%	0.71%	0.59%
	2.52%	2.45%	2.45%	2.46%	2.45%	2.44%	2.44%	2.16%	1.70%	0.94%	0.93%	0.80%
	26.19%	26.45%	26.52%	26.59%	26.59%	26.71%	26.71%	26.20%	27.30%	28.26%	28.75%	29.03%
No. of Shareholders	65,530	65,583	65,383	65,862	64,875	63,939	63,399	65,114	58,792	60,676	60,475	61,535

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	74.86%	74.86%	72.08%	72.08%	71.85%	71.10%	70.85%	69.96%	69.60%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.85%	0.59%
	2.60%	2.59%	2.59%	2.59%	2.58%	2.45%	2.44%	0.94%	0.80%
	22.54%	22.55%	25.33%	25.33%	25.57%	26.45%	26.71%	28.26%	29.03%
No. of Shareholders	1,06,708	1,03,344	1,01,127	99,465	70,603	65,583	63,939	60,676	61,535

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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