IMEC Services Ltd

₹ 37.0 1.99%

22 Nov - close price

About

Incorporated in 1987, MEC Services Ltd
provides Management and Consultancy
Services inter alia – information technology, engineering, and technical^[1]

Key Points

Business Overview:^[1]^[2]
a) Company (formerly known as Ruchi Strips & Alloys Limited) was in the business of Cold Rolled Steel Coils & Sheets. It had its manufacturing unit near Indore, with an installed capacity of 1 Lac TPA of Cold Rolled Steel. In FY11, their entire business including their assets and liabilities was sold on a slump sale basis to RSAL Steel Private Limited (a subsidiary of Ruchi Strips And Alloys Limited). After demerger of its entire steel division, the company was only in trading of commodities.
b) Currently, the company provides Management and Consultancy in engineering, information technology and technical.
c) It is also in trading of agricultural products, metal & metal alloys etc.

Website BSE

Market Cap ₹ 7.02 Cr.
Current Price ₹ 37.0
High / Low ₹ 37.0 / 2.70
Stock P/E 10.0
Book Value ₹ 8.79
Dividend Yield 0.00 %
ROCE 2.47 %
ROE 1.85 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company's working capital requirements have reduced from 84.2 days to 55.2 days

Cons

Stock is trading at 4.21 times its book value
Promoter holding is low: 30.3%
Company has a low return on equity of 1.05% over last 3 years.
Promoters have pledged 65.5% of their holding.

* 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: Miscellaneous Industry: Miscellaneous

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	0.24	1.25	1.79	2.30	0.75	1.48	3.99	1.02	1.51	0.35	-2.21	0.67	1.16
	0.11	1.17	2.07	2.39	1.67	1.98	2.39	1.63	1.99	1.53	-4.08	1.31	0.67
Operating Profit	0.13	0.08	-0.28	-0.09	-0.92	-0.50	1.60	-0.61	-0.48	-1.18	1.87	-0.64	0.49
OPM %	54.17%	6.40%	-15.64%	-3.91%	-122.67%	-33.78%	40.10%	-59.80%	-31.79%	-337.14%		-95.52%	42.24%
	0.01	0.00	0.01	0.00	0.00	0.00	0.01	0.00	0.02	0.00	-0.02	0.20	0.00
Interest	0.00	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.00	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.01	0.01	-0.02	0.01	0.01
Profit before tax	0.14	0.08	-0.27	-0.10	-0.93	-0.51	1.60	-0.62	-0.47	-1.19	1.87	-0.45	0.48
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.14	0.08	-0.27	-0.10	-0.93	-0.51	1.60	-0.62	-0.47	-1.19	1.86	-0.45	0.48
EPS in Rs	0.03	0.02	-0.05	-0.02	-0.19	-0.10	0.32	-3.26	-2.47	-6.26	9.79	-2.37	2.53
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013 18m	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	553.27	275.55	226.76	33.31	15.49	0.51	1.19	2.91	0.24	3.37	8.52	6.41	-0.03
	545.55	275.59	226.61	86.10	15.48	0.77	0.62	2.89	0.47	3.43	8.43	6.37	-0.57
Operating Profit	7.72	-0.04	0.15	-52.79	0.01	-0.26	0.57	0.02	-0.23	-0.06	0.09	0.04	0.54
OPM %	1.40%	-0.01%	0.07%	-158.48%	0.06%	-50.98%	47.90%	0.69%	-95.83%	-1.78%	1.06%	0.62%	-1,800.00%
	1.51	0.99	0.09	0.02	0.06	0.02	0.01	0.01	0.01	0.02	0.01	0.03	0.18
Interest	6.93	0.16	0.11	0.01	0.00	0.00	0.00	0.01	0.00	0.00	0.01	0.00	0.00
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.03	0.01
Profit before tax	2.30	0.79	0.13	-52.78	0.07	-0.24	0.58	0.02	-0.22	-0.04	0.07	0.04	0.71
Tax %	48.26%	125.32%	53.85%	8.22%	-14.29%	0.00%	91.38%	0.00%	0.00%	0.00%	0.00%	0.00%
	1.19	-0.19	0.06	-57.12	0.07	-0.24	0.05	0.01	-0.22	-0.04	0.06	0.03	0.70
EPS in Rs	0.24	-0.04	0.01	-11.42	0.01	-0.05	0.01	0.00	-0.04	-0.01	0.01	0.16	3.69
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-31%
5 Years:	40%
3 Years:	199%
TTM:	-100%

Compounded Profit Growth
10 Years:	8%
5 Years:	-10%
3 Years:	29%
TTM:	-50%

Stock Price CAGR
10 Years:	22%
5 Years:	82%
3 Years:	167%
1 Year:	%

Return on Equity
10 Years:	-54%
5 Years:	-2%
3 Years:	1%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	50.01	50.01	50.01	50.01	50.01	50.01	50.01	50.01	50.01	50.01	50.01	1.90	1.90
Reserves	9.09	8.90	8.95	-48.17	-46.85	-47.09	-48.22	-48.21	-48.43	-48.47	-48.41	-0.26	-0.23
	1.06	1.20	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	24.83	8.36	16.82	13.73	15.87	2.28	0.26	2.60	2.64	1.18	4.71	1.25	1.09
Total Liabilities	84.99	68.47	75.78	15.57	19.03	5.20	2.05	4.40	4.22	2.72	6.31	2.89	2.76
	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.21	0.19	0.17
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	50.96	50.95	52.95	0.15	1.68	1.68	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	34.02	17.52	22.83	15.42	17.35	3.52	2.05	4.40	4.22	2.72	6.10	2.70	2.59
Total Assets	84.99	68.47	75.78	15.57	19.03	5.20	2.05	4.40	4.22	2.72	6.31	2.89	2.76

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	8.61	-0.16	3.35	0.47	0.61	-1.31	0.04	-0.32	0.01	0.06	0.48	0.11
	0.02	0.01	-2.18	0.23	0.02	0.02	0.08	0.10	0.01	0.01	-0.22	-0.01
	-8.45	-0.01	-1.31	-0.01	0.00	0.00	0.00	0.00	0.00	0.00	-0.01	0.00
Net Cash Flow	0.18	-0.16	-0.14	0.69	0.63	-1.30	0.12	-0.23	0.02	0.07	0.25	0.10

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	17.21	11.19	27.40	148.70	354.63	1,760.59	98.15	368.76	4,167.08	45.49	29.13	5.12
Inventory Days	0.00	0.00	0.00	0.00	0.00			0.00		155.57	217.45	79.35
Days Payable										311.15	350.24	125.37
Cash Conversion Cycle	17.21	11.19	27.40	148.70	354.63	1,760.59	98.15	368.76	4,167.08	-110.08	-103.67	-40.90
Working Capital Days	2.10	5.56	1.43	4.05	-6.13	730.00	438.61	220.76	2,311.67	153.80	43.70	55.23
ROCE %	15.31%	1.51%	0.40%	-173.59%	2.80%	-7.89%	24.63%	1.67%	-13.02%	-2.56%	5.10%	2.47%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	30.15%	30.15%	30.15%	30.15%	30.15%	26.60%	26.60%	26.60%	30.30%	30.30%	30.30%	30.30%
	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%
	69.69%	69.69%	69.69%	69.69%	69.70%	73.23%	73.24%	73.23%	69.54%	69.54%	69.54%	69.53%
No. of Shareholders	23,030	24,683	24,712	24,620	24,648	24,809	24,832	24,832	10,764	10,641	10,568	10,450

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	31.43%	31.43%	35.93%	30.17%	30.17%	30.15%	26.60%	30.30%	30.30%
	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%
	68.41%	68.41%	63.91%	69.67%	69.67%	69.69%	73.23%	69.54%	69.53%
No. of Shareholders	21,959	21,743	21,707	21,712	21,680	24,683	24,809	10,641	10,450

* 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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IMEC Services Ltd

IMEC Services Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

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