Marine Electricals (India) Ltd
Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. [1]
- Market Cap ₹ 3,105 Cr.
- Current Price ₹ 225
- High / Low ₹ 308 / 84.2
- Stock P/E 84.1
- Book Value ₹ 27.9
- Dividend Yield 0.09 %
- ROCE 15.4 %
- ROE 11.2 %
- Face Value ₹ 2.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 22.9% CAGR over last 5 years
Cons
- Stock is trading at 8.08 times its book value
- Company has a low return on equity of 9.47% over last 3 years.
- Company has high debtors of 186 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: Capital Goods - Electrical Equipment Industry: Electric Equipment
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 212 | 236 | 250 | 272 | 369 | 400 | 263 | 251 | 376 | 443 | 622 | 706 | |
| 193 | 216 | 229 | 246 | 337 | 378 | 240 | 224 | 344 | 404 | 570 | 640 | |
| Operating Profit | 20 | 20 | 21 | 26 | 31 | 22 | 22 | 27 | 32 | 39 | 52 | 67 |
| OPM % | 9% | 8% | 8% | 9% | 9% | 6% | 9% | 11% | 9% | 9% | 8% | 9% |
| 3 | 3 | 2 | 2 | 3 | 4 | 6 | 8 | 4 | 5 | 7 | 10 | |
| Interest | 3 | 5 | 3 | 5 | 7 | 8 | 11 | 9 | 7 | 10 | 12 | 14 |
| Depreciation | 2 | 6 | 5 | 5 | 5 | 5 | 10 | 9 | 9 | 8 | 10 | 13 |
| Profit before tax | 17 | 12 | 14 | 18 | 23 | 13 | 8 | 17 | 19 | 25 | 36 | 50 |
| Tax % | 19% | 29% | 34% | 38% | 28% | 29% | 24% | 20% | 32% | 33% | 29% | |
| 14 | 9 | 9 | 11 | 16 | 9 | 6 | 14 | 13 | 17 | 26 | 37 | |
| EPS in Rs | 1.56 | 0.92 | 1.07 | 1.19 | 1.75 | 0.75 | 0.46 | 1.05 | 1.06 | 1.35 | 1.95 | 2.80 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 19% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 9% |
| 3 Years: | 35% |
| TTM: | 39% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 23% |
| 3 Years: | 26% |
| TTM: | 92% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 63% |
| 3 Years: | 96% |
| 1 Year: | 138% |
| Return on Equity | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 8% |
| 3 Years: | 9% |
| Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 17 | 17 | 17 | 17 | 18 | 25 | 25 | 25 | 25 | 25 | 27 | 28 |
| Reserves | 28 | 36 | 46 | 58 | 78 | 130 | 126 | 138 | 150 | 183 | 224 | 357 |
| 23 | 24 | 32 | 40 | 46 | 57 | 56 | 58 | 37 | 66 | 97 | 87 | |
| 53 | 66 | 54 | 112 | 212 | 162 | 176 | 162 | 162 | 192 | 268 | 249 | |
| Total Liabilities | 121 | 143 | 149 | 227 | 354 | 373 | 383 | 383 | 373 | 466 | 616 | 721 |
| 37 | 40 | 43 | 56 | 39 | 43 | 53 | 48 | 49 | 66 | 78 | 84 | |
| CWIP | 0 | 0 | 0 | 0 | 14 | 14 | 0 | 0 | 2 | 0 | 3 | 7 |
| Investments | 0 | 0 | 0 | 0 | 3 | 3 | 5 | 3 | 3 | 3 | 6 | 6 |
| 84 | 104 | 106 | 171 | 297 | 313 | 325 | 331 | 319 | 396 | 529 | 624 | |
| Total Assets | 121 | 143 | 149 | 227 | 354 | 373 | 383 | 383 | 373 | 466 | 616 | 721 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 14 | 13 | 31 | -53 | 23 | 2 | 47 | -2 | -7 | |||
| -2 | -16 | -23 | 1 | -1 | 1 | -18 | -28 | -21 | |||
| 1 | 2 | 3 | 44 | -19 | -7 | -31 | 31 | 32 | |||
| Net Cash Flow | 14 | -1 | 11 | -9 | 3 | -3 | -3 | 1 | 4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 62 | 91 | 104 | 148 | 182 | 174 | 235 | 252 | 167 | 186 | 186 |
| Inventory Days | 30 | 47 | 29 | 73 | 61 | 64 | 146 | 166 | 102 | 71 | 72 |
| Days Payable | 73 | 94 | 78 | 168 | 209 | 154 | 292 | 267 | 159 | 161 | 167 |
| Cash Conversion Cycle | 19 | 43 | 55 | 52 | 33 | 84 | 90 | 152 | 110 | 96 | 91 |
| Working Capital Days | 18 | 49 | 67 | 76 | 55 | 124 | 177 | 228 | 138 | 131 | 120 |
| ROCE % | 23% | 20% | 21% | 22% | 12% | 9% | 12% | 12% | 14% | 15% |
Documents
Announcements
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Copy of Newspaper Publication
13 November 2024 - Electricals (India) Limited has informed about Copy of Newspaper Publication
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Statement of deviation(s) or variation(s) under Reg. 32
13 November 2024 - Electricals (India) Limited has informed about statement of deviation(s) or variation(s) under Reg. 32
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Addendum
13 November 2024 - Electricals (India) Limited has informed about Addendum
-
Monitoring Agency Report
12 November 2024 - Monitoring Agency Report in respect of utilization of proceeds of preferential issue for the quarter ended September 30, 2024 issued by ICRA Limited, Monitoring Agency.
-
Outcome of Board Meeting
12 November 2024 - Electricals (India) Limited has informed regarding Board meeting held on November 12, 2024.
Market Leadership
The company is one of India's largest LV and MV Switchgear manufacturers. [1] It has a 50% market share in the electrical segment, it is a tier-1 electrical supplier and an approved vendor with Indian Navy, Indian and Global Shipyards. [2]