Maithan Alloys Ltd
Maithan Alloys is engaged in the business of manufacturing and exporting of all three bulk Ferro alloys- Ferro Manganese, Silico Manganese and Ferro Silicon. It is also engaged in the generation and supply of Wind Power and has a Captive Power Plant.(Source : 201903 Annual Report Page No: 88)
- Market Cap ₹ 3,263 Cr.
- Current Price ₹ 1,121
- High / Low ₹ 1,359 / 955
- Stock P/E 3.90
- Book Value ₹ 1,259
- Dividend Yield 0.54 %
- ROCE 12.0 %
- ROE 9.36 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.89 times its book value
Cons
- The company has delivered a poor sales growth of -2.76% over past five years.
- Earnings include an other income of Rs.992 Cr.
- Working capital days have increased from 142 days to 214 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: Ferro Alloys Industry: Mining / Minerals / Metals
Part of Nifty Microcap 250 Nifty Total Market
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 854 | 811 | 882 | 1,146 | 1,337 | 1,873 | 1,979 | 1,816 | 1,615 | 3,054 | 2,905 | 1,721 | 1,722 | |
| 790 | 772 | 811 | 1,015 | 1,057 | 1,489 | 1,654 | 1,581 | 1,318 | 1,996 | 2,402 | 1,611 | 1,609 | |
| Operating Profit | 64 | 39 | 71 | 132 | 279 | 384 | 325 | 235 | 298 | 1,058 | 504 | 110 | 113 |
| OPM % | 7% | 5% | 8% | 11% | 21% | 21% | 16% | 13% | 18% | 35% | 17% | 6% | 7% |
| 4 | 2 | 3 | 4 | 8 | 15 | 26 | 66 | 24 | 31 | 79 | 357 | 992 | |
| Interest | 7 | 6 | 6 | 17 | 12 | 8 | 8 | 6 | 3 | 3 | 5 | 3 | 8 |
| Depreciation | 7 | 6 | 3 | 23 | 25 | 15 | 16 | 16 | 16 | 15 | 15 | 15 | 15 |
| Profit before tax | 54 | 29 | 64 | 96 | 250 | 376 | 327 | 279 | 302 | 1,070 | 563 | 449 | 1,082 |
| Tax % | 20% | 22% | 20% | 17% | 26% | 22% | 22% | 21% | 23% | 25% | 24% | 22% | |
| 44 | 23 | 52 | 79 | 186 | 292 | 255 | 222 | 233 | 808 | 427 | 351 | 836 | |
| EPS in Rs | 15.02 | 7.90 | 17.71 | 27.15 | 63.78 | 100.22 | 87.69 | 76.22 | 80.05 | 277.45 | 146.51 | 120.58 | 287.24 |
| Dividend Payout % | 7% | 13% | 6% | 7% | 4% | 3% | 7% | 8% | 8% | 2% | 4% | 5% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | -3% |
| 3 Years: | 2% |
| TTM: | -16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 28% |
| 5 Years: | 1% |
| 3 Years: | 7% |
| TTM: | 201% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 29% |
| 5 Years: | 20% |
| 3 Years: | 3% |
| 1 Year: | -6% |
| Return on Equity | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 19% |
| 3 Years: | 21% |
| Last Year: | 9% |
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 | 15 | 15 | 15 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 |
| Reserves | 256 | 276 | 320 | 366 | 563 | 846 | 1,091 | 1,270 | 1,502 | 2,293 | 2,702 | 3,041 | 3,635 |
| 23 | 39 | 25 | 139 | 81 | 45 | 7 | 10 | 49 | 5 | 12 | 17 | 362 | |
| 211 | 178 | 191 | 263 | 260 | 302 | 399 | 212 | 326 | 394 | 286 | 271 | 470 | |
| Total Liabilities | 505 | 507 | 551 | 797 | 934 | 1,222 | 1,526 | 1,522 | 1,905 | 2,722 | 3,028 | 3,358 | 4,496 |
| 62 | 57 | 55 | 260 | 238 | 233 | 219 | 207 | 193 | 160 | 151 | 145 | 140 | |
| CWIP | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 2 | 1 | 1 |
| Investments | 126 | 128 | 125 | 47 | 84 | 362 | 649 | 26 | 815 | 849 | 938 | 1,869 | 3,462 |
| 317 | 321 | 369 | 490 | 612 | 626 | 657 | 1,287 | 897 | 1,713 | 1,938 | 1,344 | 893 | |
| Total Assets | 505 | 507 | 551 | 797 | 934 | 1,222 | 1,526 | 1,522 | 1,905 | 2,722 | 3,028 | 3,358 | 4,496 |
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 | -7 | 8 | 136 | 123 | 284 | 315 | -45 | 116 | 128 | 958 | -392 | |
| -42 | 2 | 4 | -11 | -8 | -280 | -270 | 697 | -760 | -0 | -956 | 369 | |
| 7 | 7 | -21 | -101 | -74 | -55 | -54 | -43 | 37 | -62 | -13 | -14 | |
| Net Cash Flow | -26 | 2 | -8 | 25 | 41 | -50 | -9 | 609 | -607 | 66 | -11 | -37 |
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 | 49 | 46 | 78 | 63 | 62 | 47 | 47 | 56 | 99 | 91 | 53 | 82 |
| Inventory Days | 83 | 96 | 75 | 92 | 109 | 93 | 85 | 95 | 151 | 176 | 62 | 137 |
| Days Payable | 66 | 51 | 54 | 81 | 47 | 55 | 80 | 26 | 80 | 52 | 32 | 34 |
| Cash Conversion Cycle | 66 | 92 | 98 | 74 | 123 | 85 | 52 | 125 | 170 | 216 | 83 | 185 |
| Working Capital Days | 36 | 56 | 70 | 42 | 60 | 49 | 38 | 87 | 122 | 143 | 70 | 214 |
| ROCE % | 23% | 11% | 20% | 25% | 43% | 48% | 32% | 20% | 20% | 55% | 23% | 12% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Acquisition
9h - Maithan Alloys to acquire 1.99 lakh shares of NSE.
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Disclosure Under SEBI (LODR) Regulations, 2015
28 Nov - Company received Show Cause Notice for tax violations.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
28 Nov - Public Notice by way of advertisement regarding Postal Ballot Notice.
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 27 Nov
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Announcement under Regulation 30 (LODR)-Acquisition
22 Nov - Acquisition of 0.08% shares in Power Finance Corporation.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
from nse
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Financial Year 2011
from bse
Concalls
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Sep 2023TranscriptNotesPPT
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Jun 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Sep 2021TranscriptNotesPPT
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May 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
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Jul 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Sep 2019TranscriptNotesPPT
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May 2019Transcript PPT
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Jan 2019TranscriptNotesPPT
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Aug 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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Jan 2018TranscriptNotesPPT
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Nov 2017TranscriptNotesPPT
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Aug 2017TranscriptNotesPPT
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May 2017TranscriptNotesPPT
Leadership[1]
Maithan is India’s largest Manganese Alloy Producer