Mangal Credit & Fincorp Ltd

₹ 160 10.19%

24 Dec 9:09 a.m.

mangalfincorp.com BSE: 505850 NSE: MANCREDIT

About

Incorporated in 2012, Mangal Credit & Fincorp Ltd provides various type of loans^[1]

Key Points

Business Overview:^[1]^[2]
MCFL is registered as a Non-Systematically Important Non-Deposit Taking NBFC. It has 6 branches in Maharashtra, 2 branches in Gujarat with 1 in Surat and 1 in Rajkot.

Website BSE NSE

Market Cap ₹ 313 Cr.
Current Price ₹ 160
High / Low ₹ 169 / 99.8
Stock P/E 46.7
Book Value ₹ 49.2
Dividend Yield 0.37 %
ROCE 11.4 %
ROE 7.68 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 20.0% CAGR over last 5 years

Cons

Stock is trading at 2.97 times its book value
The company has delivered a poor sales growth of -13.4% over past five years.
Company has a low return on equity of 7.96% over last 3 years.
Promoter holding has decreased over last 3 years: -10.2%

* 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: Finance Industry: Finance & Investments

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2013	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019
	1.48	24.22	7.35	14.25	81.01	12.34	5.55	8.84
	0.34	19.11	15.43	3.80	67.28	8.45	4.70	4.00
Operating Profit	1.14	5.11	-8.08	10.45	13.73	3.89	0.85	4.84
OPM %	77.03%	21.10%	-109.93%	73.33%	16.95%	31.52%	15.32%	54.75%
	0.01	1.39	2.31	1.62	1.25	1.10	1.27	0.93
Interest	0.83	2.17	2.42	1.88	3.82	1.74	1.65	1.53
Depreciation	0.03	0.33	1.80	1.86	2.83	1.71	1.79	1.91
Profit before tax	0.29	4.00	-9.99	8.33	8.33	1.54	-1.32	2.33
Tax %	0.00%	30.50%	3.90%	4.80%	13.45%	33.77%	45.45%	15.88%
	0.29	2.78	-10.39	7.93	7.22	1.03	-1.92	1.96
EPS in Rs	0.48	1.31	-2.56	2.65	2.32	0.68	-0.14	0.76
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	TTM
	3	4	215	240	148	81	114	104	108
	1	2	200	213	126	60	91	79	84
Operating Profit	2	1	14	27	23	21	24	25	23
OPM %	55%	35%	7%	11%	15%	26%	21%	24%	22%
	0	1	3	1	1	2	2	1	5
Interest	0	1	12	19	13	7	8	9	9
Depreciation	0	0	2	6	7	9	6	7	8
Profit before tax	1	1	4	4	3	7	12	10	11
Tax %	22%	20%	25%	33%	43%	37%	22%	28%
	1	1	3	3	2	5	9	8	8
EPS in Rs			4.82	3.27	0.88	2.51	4.35	3.71	3.62
Dividend Payout %	18%	15%	10%	4%	0%	10%	11%	13%

Compounded Sales Growth
10 Years:	%
5 Years:	-13%
3 Years:	-11%
TTM:	-9%

Compounded Profit Growth
10 Years:	%
5 Years:	20%
3 Years:	133%
TTM:	-16%

Stock Price CAGR
10 Years:	14%
5 Years:	29%
3 Years:	22%
1 Year:	36%

Return on Equity
10 Years:	%
5 Years:	7%
3 Years:	8%
Last Year:	8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Sep 2019
Equity Capital	0.71	0.70	1	1	16	16	19	19	19
Reserves	14	15	31	32	51	56	72	74	76
	0	20	189	164	67	78	67	73	59
	2	4	81	70	64	71	71	39	24
Total Liabilities	16	40	303	267	199	221	229	205	178
	0	1	24	21	22	29	28	23	24
CWIP	0	0	0	0	0	0	0	7	0
Investments	2	3	1	2	2	0	15	15	16
	14	37	277	244	174	192	186	160	138
Total Assets	16	40	303	267	199	221	229	205	178

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
	3	-125	7	44	-7	31	1
	-0	-36	26	-30	-12	-30	-1
	-0	180	-27	-17	19	1	12
Net Cash Flow	2	18	5	-4	0	2	12

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Debtor Days	0	7	101	66	55	113	93	93
Inventory Days	679	795	164	176	55	253	89	0
Days Payable	791	916	113	60	135	304	141	138
Cash Conversion Cycle	-112	-115	152	182	-25	62	41	-44
Working Capital Days	-78	2,890	262	233	169	320	216	212
ROCE %		8%	12%	10%	8%	9%	12%	11%

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
	61.98%	62.36%	63.01%	63.41%	63.53%	55.36%	55.43%	55.46%	50.65%	51.61%	51.70%	51.70%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	0.64%	0.64%	0.64%	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	37.37%	36.99%	36.34%	35.94%	36.46%	44.63%	44.56%	44.53%	49.34%	48.37%	48.28%	48.28%
No. of Shareholders	4,460	4,656	4,479	4,432	4,355	4,293	4,293	4,401	4,267	4,453	4,503	4,676

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	41.32%	49.28%	54.12%	58.24%	61.02%	62.36%	55.36%	51.61%	51.70%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	0.00%	0.00%	0.00%	0.00%	0.26%	0.64%	0.00%	0.00%	0.00%
	58.67%	50.72%	45.87%	41.76%	38.71%	36.99%	44.63%	48.37%	48.28%
No. of Shareholders	3,318	5,822	5,224	4,601	4,468	4,656	4,293	4,453	4,676

* 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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Aug 2021

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May 2021

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Feb 2021

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Nov 2020

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Sep 2020

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Feb 2020

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Dec 2019

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Jun 2019

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Sep 2016

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