Multibase India Ltd

Multibase India Ltd

₹ 270 -2.84%
30 Aug - close price
About

Incorporated in 1991, Multibase India Ltd manufactures, trades and sells of polypropylene compound, thermoplastic elastomer, silicon master batch and thermoplastic master
batch[1]

Key Points

Business Overview:[1]
MBIL is a part of Multibase SA, subsidiary of Dow Corning Corporation. It manufactures thermoplastic elastomers and silicone-based products used in automotive, building and construction segments

  • Market Cap 341 Cr.
  • Current Price 270
  • High / Low 337 / 211
  • Stock P/E 27.0
  • Book Value 107
  • Dividend Yield 1.11 %
  • ROCE 11.6 %
  • ROE 8.58 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 26.6%

Cons

  • Stock is trading at 2.53 times its book value
  • The company has delivered a poor sales growth of -10.0% over past five years.
  • Company has a low return on equity of 7.43% over last 3 years.
  • Earnings include an other income of Rs.8.04 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: Plastic products Industry: Plastics Products

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Quarterly Results

Figures in Rs. Crores

Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
14.92 14.94 13.81 18.81 18.20 18.98 16.99 18.04 18.08 16.26 15.74 14.65 19.23
13.37 13.63 12.81 15.95 16.97 17.72 15.08 12.81 16.16 15.17 13.60 11.48 15.63
Operating Profit 1.55 1.31 1.00 2.86 1.23 1.26 1.91 5.23 1.92 1.09 2.14 3.17 3.60
OPM % 10.39% 8.77% 7.24% 15.20% 6.76% 6.64% 11.24% 28.99% 10.62% 6.70% 13.60% 21.64% 18.72%
0.60 0.71 0.76 0.84 0.88 1.18 0.88 1.65 1.67 1.78 1.88 2.45 1.93
Interest 0.00 0.00 0.00 0.06 0.00 0.00 0.00 0.05 0.02 0.00 0.00 0.08 0.00
Depreciation 0.23 0.24 0.24 0.23 0.28 0.27 0.29 0.16 0.31 0.20 0.25 0.26 0.27
Profit before tax 1.92 1.78 1.52 3.41 1.83 2.17 2.50 6.67 3.26 2.67 3.77 5.28 5.26
Tax % 25.52% 25.84% 27.63% 27.27% 25.14% 26.73% 25.20% 25.64% 25.46% 24.72% 27.06% 25.38% 25.48%
1.44 1.32 1.10 2.47 1.37 1.58 1.87 4.96 2.44 2.01 2.76 3.95 3.92
EPS in Rs 1.14 1.05 0.87 1.96 1.09 1.25 1.48 3.93 1.93 1.59 2.19 3.13 3.11
Raw PDF

Profit & Loss

Figures in Rs. Crores

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
45 55 62 70 86 109 110 60 53 62 72 65 66
39 47 51 56 68 80 90 53 47 56 63 56 56
Operating Profit 6 7 10 14 19 29 20 7 7 7 10 8 10
OPM % 14% 13% 17% 20% 22% 26% 18% 11% 13% 11% 13% 13% 15%
1 1 1 2 2 2 3 4 4 3 5 8 8
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 7 8 11 15 20 30 22 10 10 9 13 15 17
Tax % 31% 33% 34% 35% 35% 35% 30% 24% 32% 27% 26% 26%
4 5 7 10 13 20 15 8 7 6 10 11 13
EPS in Rs 3.56 4.03 5.72 7.83 10.52 15.49 12.17 5.97 5.32 5.02 7.76 8.84 10.02
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 38% 20% 26% 34%
Compounded Sales Growth
10 Years: 2%
5 Years: -10%
3 Years: 7%
TTM: -9%
Compounded Profit Growth
10 Years: 8%
5 Years: -6%
3 Years: 18%
TTM: 17%
Stock Price CAGR
10 Years: 10%
5 Years: 17%
3 Years: 4%
1 Year: 8%
Return on Equity
10 Years: 12%
5 Years: 7%
3 Years: 7%
Last Year: 9%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 13 13 13 13 13 13 13 13 13 13 13 13
Reserves 16 21 29 38 52 71 87 94 101 105 113 122
0 0 0 0 0 0 0 0 0 0 0 0
7 7 6 8 12 32 12 10 12 12 11 10
Total Liabilities 36 41 47 59 77 116 111 117 126 130 137 144
5 5 5 8 9 10 10 11 10 11 11 12
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0
32 36 42 51 68 106 101 106 115 119 126 133
Total Assets 36 41 47 59 77 116 111 117 126 130 137 144

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-0 3 7 7 5 25 5 20 10 5 9 5
-2 1 -9 7 4 -30 32 -0 2 1 3 4
-0 -0 0 0 0 0 -10 10 0 -2 -1 -3
Net Cash Flow -3 3 -1 14 8 -5 26 31 12 3 10 6

Ratios

Figures in Rs. Crores

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 76 71 60 67 81 80 61 71 77 64 58 51
Inventory Days 126 105 84 106 128 132 83 106 123 103 61 95
Days Payable 77 52 36 52 66 157 43 72 101 79 55 54
Cash Conversion Cycle 125 124 108 120 144 56 101 106 98 88 64 91
Working Capital Days 134 120 105 103 121 72 131 98 90 78 62 77
ROCE % 25% 24% 29% 33% 35% 40% 24% 10% 9% 8% 11% 12%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
1.03% 1.03% 1.03% 1.03% 1.03% 0.33% 0.33% 0.33% 0.33% 0.33% 0.33% 0.17%
23.97% 23.97% 23.97% 23.97% 23.98% 24.67% 24.68% 24.68% 24.67% 24.68% 24.66% 24.82%
No. of Shareholders 8,3288,2518,4588,4008,4318,3918,2378,1388,5788,6558,6379,137

* 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.

Click on the line-items to see the names of individual entities.

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