Madhav Marbles and Granites Ltd

₹ 54.0 5.39%

22 Nov - close price

madhavmarbles.com BSE: 515093 NSE: MADHAV

About

Incorporated in 1989, Madhav Marbles and Granites Ltd is a 100% Export Oriented Unit, engaged in manufacturing, processing, and trading granite slabs/tiles, marble slabs/tiles, windmill power generation, and realty business. ^[1]^[2]

Key Points

Product Offerings
The company has several products which can be categorized into four main divisions: Marble, Granite, Quartz, and Sandstone.^[1]

Website BSE NSE

Market Cap ₹ 48.3 Cr.
Current Price ₹ 54.0
High / Low ₹ 92.0 / 37.0
Stock P/E 134
Book Value ₹ 154
Dividend Yield 0.00 %
ROCE 0.55 %
ROE -0.10 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.35 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -12.3% over past five years.
Company has a low return on equity of 0.59% over last 3 years.
Contingent liabilities of Rs.42.0 Cr.
Earnings include an other income of Rs.5.36 Cr.
Debtor days have increased from 112 to 137 days.

* 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
	14.72	11.26	11.58	14.54	11.57	9.20	11.61	11.14	10.66	6.50	11.59	10.60	5.82
	13.46	10.64	12.42	12.22	13.05	10.08	11.01	10.42	11.32	8.10	10.93	10.06	6.65
Operating Profit	1.26	0.62	-0.84	2.32	-1.48	-0.88	0.60	0.72	-0.66	-1.60	0.66	0.54	-0.83
OPM %	8.56%	5.51%	-7.25%	15.96%	-12.79%	-9.57%	5.17%	6.46%	-6.19%	-24.62%	5.69%	5.09%	-14.26%
	1.12	1.08	1.74	1.22	1.34	1.59	1.21	0.90	1.08	1.00	1.79	1.03	1.54
Interest	0.12	0.09	0.11	0.13	0.17	0.12	0.13	0.20	0.22	0.25	0.29	0.24	0.16
Depreciation	1.20	1.22	1.25	1.22	1.21	1.03	1.27	0.76	0.64	0.64	0.74	0.77	0.50
Profit before tax	1.06	0.39	-0.46	2.19	-1.52	-0.44	0.41	0.66	-0.44	-1.49	1.42	0.56	0.05
Tax %	22.64%	23.08%	-102.17%	22.37%	-3.29%	0.00%	-175.61%	24.24%	-27.27%	-2.68%	7.04%	19.64%	20.00%
	0.83	0.30	0.01	1.71	-1.46	-0.44	1.14	0.50	-0.33	-1.45	1.32	0.45	0.04
EPS in Rs	0.93	0.34	0.01	1.91	-1.63	-0.49	1.27	0.56	-0.37	-1.62	1.48	0.50	0.04
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Profit & Loss

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	TTM
	63.40	74.10	90.97	78.88	79.34	69.65	76.96	60.28	61.89	53.17	46.93	39.90	34.51
	55.00	63.51	78.96	71.42	72.87	69.38	69.78	57.82	56.75	51.00	46.35	40.78	35.74
Operating Profit	8.40	10.59	12.01	7.46	6.47	0.27	7.18	2.46	5.14	2.17	0.58	-0.88	-1.23
OPM %	13.25%	14.29%	13.20%	9.46%	8.15%	0.39%	9.33%	4.08%	8.31%	4.08%	1.24%	-2.21%	-3.56%
	1.90	3.33	2.41	3.76	2.17	5.40	4.89	6.72	4.51	5.14	5.35	4.77	5.36
Interest	0.44	0.24	0.22	0.66	0.22	1.08	1.30	1.10	0.52	0.43	0.55	0.97	0.94
Depreciation	4.83	5.46	3.23	2.50	2.33	2.42	4.76	4.89	4.62	4.85	4.72	2.79	2.65
Profit before tax	5.03	8.22	10.97	8.06	6.09	2.17	6.01	3.19	4.51	2.03	0.66	0.13	0.54
Tax %	37.97%	26.52%	28.44%	5.83%	14.61%	17.05%	23.29%	31.35%	4.43%	3.94%	-43.94%	76.92%
	3.13	6.04	7.85	7.58	5.21	1.80	4.61	2.18	4.32	1.94	0.94	0.04	0.36
EPS in Rs	3.50	6.75	8.77	8.47	5.82	2.01	5.15	2.44	4.83	2.17	1.05	0.04	0.40
Dividend Payout %	28.59%	22.23%	17.10%	11.81%	17.18%	12.43%	4.85%	0.00%	10.36%	11.53%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-6%
5 Years:	-12%
3 Years:	-14%
TTM:	-19%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-59%

Stock Price CAGR
10 Years:	1%
5 Years:	18%
3 Years:	1%
1 Year:	2%

Return on Equity
10 Years:	3%
5 Years:	1%
3 Years:	1%
Last Year:	0%

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	8.95	8.95	8.95	8.95	8.95	8.95	8.95	8.95	8.95	8.95	8.95	8.95	8.95
Reserves	92.11	96.57	102.81	109.32	114.52	115.19	119.61	121.53	125.99	127.52	128.24	128.28	128.77
	0.00	0.00	10.02	5.02	4.00	20.13	17.82	8.60	9.68	6.61	7.93	13.39	6.99
	18.11	17.30	17.97	19.28	14.62	17.49	15.84	13.89	10.84	10.20	9.46	7.35	7.44
Total Liabilities	119.17	122.82	139.75	142.57	142.09	161.76	162.22	152.97	155.46	153.28	154.58	157.97	152.15
	26.57	21.83	28.97	27.34	27.00	30.03	41.34	36.85	32.47	29.19	29.25	26.53	25.50
CWIP	0.15	0.01	0.31	0.64	1.06	13.45	0.33	0.37	0.51	0.29	0.39	0.38	0.38
Investments	0.00	0.00	0.00	0.00	0.63	1.95	2.55	1.98	1.31	2.03	2.98	3.06	3.05
	92.45	100.98	110.47	114.59	113.40	116.33	118.00	113.77	121.17	121.77	121.96	128.00	123.22
Total Assets	119.17	122.82	139.75	142.57	142.09	161.76	162.22	152.97	155.46	153.28	154.58	157.97	152.15

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
	4.42	10.29	7.71	11.52	5.75	-8.00	0.45	14.06	-1.55	1.39	2.89	-5.94
	-1.36	0.89	-9.07	-0.14	-2.42	-17.98	3.62	-4.16	3.84	-0.80	-3.62	1.36
	-3.40	-1.05	8.44	-7.09	-2.32	13.98	-3.88	-10.69	0.45	-3.64	0.55	4.49
Net Cash Flow	-0.34	10.13	7.08	4.29	1.01	-12.00	0.19	-0.80	2.74	-3.04	-0.18	-0.08

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	188.89	160.19	144.56	143.86	111.65	135.26	127.01	129.28	115.53	96.18	102.04	137.40
Inventory Days	357.18	320.65	210.94	231.03	252.70	277.43	278.70	324.50	293.05	463.18	508.48	509.82
Days Payable	77.25	71.55	51.76	78.64	76.53	96.55	82.92	74.93	66.36	68.72	84.32	59.73
Cash Conversion Cycle	468.83	409.28	303.75	296.25	287.83	316.14	322.78	378.84	342.21	490.63	526.20	587.49
Working Capital Days	312.78	267.12	228.70	265.24	223.81	285.71	282.62	405.69	294.52	334.73	373.24	461.51
ROCE %	5.44%	8.19%	9.85%	7.12%	5.04%	2.11%	5.03%	3.01%	3.26%	1.69%	0.56%	0.55%

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
	41.34%	42.10%	42.22%	42.22%	42.43%	42.60%	42.77%	42.81%	42.66%	43.48%	43.50%	43.50%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%
	4.03%	4.03%	4.03%	2.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	54.64%	53.87%	53.75%	55.22%	57.57%	57.41%	57.23%	57.20%	57.32%	56.52%	56.49%	56.50%
No. of Shareholders	9,328	9,270	9,269	9,411	9,465	9,406	9,320	9,292	9,020	9,195	8,946	9,084

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	37.93%	37.41%	38.68%	40.35%	40.98%	42.10%	42.60%	43.48%	43.50%
	4.14%	4.25%	4.03%	4.03%	4.03%	4.03%	0.00%	0.00%	0.00%
	57.93%	58.35%	57.30%	55.62%	54.99%	53.87%	57.41%	56.52%	56.50%
No. of Shareholders	9,342	9,171	8,392	7,805	8,640	9,270	9,406	9,195	9,084

* 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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Madhav Marbles and Granites Ltd

Madhav Marbles and Granites Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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