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 ₹ 3,655 Cr.
- Current Price ₹ 1,256
- High / Low ₹ 1,359 / 955
- Stock P/E 10.5
- Book Value ₹ 1,079
- Dividend Yield 0.48 %
- ROCE 15.0 %
- ROE 11.7 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 1.16 times its book value
Cons
- The company has delivered a poor sales growth of -2.67% over past five years.
- Earnings include an other income of Rs.358 Cr.
- Working capital days have increased from 256 days to 573 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 948 | 957 | 1,103 | 1,146 | 1,337 | 1,873 | 1,979 | 1,816 | 1,615 | 2,989 | 2,883 | 1,729 | |
| 861 | 904 | 989 | 1,015 | 1,064 | 1,489 | 1,654 | 1,581 | 1,321 | 1,913 | 2,293 | 1,614 | |
| Operating Profit | 86 | 53 | 114 | 132 | 273 | 384 | 325 | 235 | 294 | 1,075 | 589 | 114 |
| OPM % | 9% | 6% | 10% | 11% | 20% | 21% | 16% | 13% | 18% | 36% | 20% | 7% |
| 5 | 3 | 1 | 4 | 8 | 15 | 26 | 66 | 24 | 27 | 72 | 358 | |
| Interest | 19 | 21 | 22 | 17 | 12 | 8 | 8 | 6 | 3 | 3 | 5 | 2 |
| Depreciation | 19 | 23 | 27 | 23 | 25 | 15 | 16 | 16 | 16 | 17 | 20 | 21 |
| Profit before tax | 54 | 12 | 66 | 96 | 244 | 376 | 327 | 279 | 299 | 1,082 | 637 | 450 |
| Tax % | 19% | 9% | 21% | 18% | 26% | 22% | 22% | 20% | 23% | 24% | 22% | 22% |
| 44 | 11 | 53 | 79 | 180 | 292 | 255 | 222 | 230 | 818 | 499 | 349 | |
| EPS in Rs | 15.25 | 3.91 | 18.08 | 27.09 | 61.72 | 100.24 | 87.67 | 76.27 | 79.29 | 281.01 | 171.43 | 119.87 |
| Dividend Payout % | 7% | 26% | 6% | 7% | 4% | 3% | 7% | 8% | 8% | 2% | 4% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | -3% |
| 3 Years: | 2% |
| TTM: | -40% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 41% |
| 5 Years: | 7% |
| 3 Years: | 17% |
| TTM: | -32% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 37% |
| 5 Years: | 17% |
| 3 Years: | 4% |
| 1 Year: | 20% |
| Return on Equity | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 21% |
| 3 Years: | 23% |
| Last Year: | 12% |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 |
| Reserves | 254 | 262 | 308 | 364 | 556 | 839 | 1,083 | 1,263 | 1,492 | 2,294 | 2,775 | 3,113 |
| Preference Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | |
| 211 | 258 | 214 | 139 | 81 | 45 | 7 | 10 | 49 | 5 | 12 | 30 | |
| 255 | 254 | 246 | 266 | 236 | 303 | 399 | 213 | 328 | 422 | 324 | 296 | |
| Total Liabilities | 735 | 788 | 783 | 799 | 902 | 1,215 | 1,519 | 1,516 | 1,898 | 2,751 | 3,140 | 3,468 |
| 297 | 293 | 280 | 267 | 242 | 238 | 229 | 217 | 203 | 276 | 267 | 253 | |
| CWIP | 1 | 5 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 2 | 54 |
| Investments | 38 | 38 | 36 | 36 | 70 | 343 | 628 | 6 | 795 | 824 | 870 | 1,788 |
| 399 | 452 | 466 | 496 | 590 | 635 | 662 | 1,292 | 900 | 1,651 | 2,000 | 1,373 | |
| Total Assets | 735 | 788 | 783 | 799 | 902 | 1,215 | 1,519 | 1,516 | 1,898 | 2,751 | 3,140 | 3,468 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 42 | -4 | 58 | 136 | 126 | 284 | 315 | -45 | 117 | 237 | 968 | -411 | |
| -47 | -22 | -4 | -11 | -11 | -280 | -276 | 696 | -761 | -105 | -962 | 371 | |
| -39 | 26 | -65 | -101 | -74 | -49 | -54 | -43 | 37 | -62 | -5 | -9 | |
| Net Cash Flow | -45 | 1 | -11 | 24 | 41 | -44 | -15 | 609 | -607 | 70 | 1 | -49 |
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 | 48 | 54 | 68 | 63 | 62 | 47 | 47 | 56 | 99 | 84 | 54 | 82 |
| Inventory Days | 118 | 137 | 109 | 92 | 109 | 93 | 85 | 95 | 151 | 214 | 81 | 141 |
| Days Payable | 83 | 74 | 77 | 81 | 40 | 55 | 80 | 26 | 80 | 63 | 40 | 35 |
| Cash Conversion Cycle | 83 | 117 | 99 | 74 | 130 | 85 | 52 | 125 | 170 | 236 | 94 | 188 |
| Working Capital Days | 39 | 49 | 49 | 44 | 59 | 49 | 38 | 87 | 122 | 132 | 64 | 573 |
| ROCE % | 16% | 7% | 17% | 21% | 42% | 49% | 33% | 20% | 20% | 56% | 26% |
Documents
Announcements
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Switching-On Of Furnace By Impex Metal & Ferro Alloys Ltd- Update
28 Jun - Impex Metal & Ferro Alloys Limited ( a wholly owned subsidiary of the Company) proposes to resume its production during the month of June-2024. However, …
- Announcement under Regulation 30 (LODR)-Credit Rating 28 Jun
- Closure of Trading Window 28 Jun
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Announcement under Regulation 30 (LODR)-Acquisition
19 Jun - Acquisition of Equity Shares through Stock Exchange.
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Announcement under Regulation 30 (LODR)-Acquisition
15 Jun - Acquisition of Equity Shares through Stock Exchange
Annual reports
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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
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Financial Year 2011
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Financial Year 2010
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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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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