Modi Rubber Ltd

₹ 104 0.92%

17 Apr - close price

modigroup.net BSE: 500890 NSE: MODIRUBBER

About

Incorporated in 1971, Modi Rubber Ltd manufactures automobile tyres, tubes & flaps, resin coated sand and operates salons^[1]

Key Points

Business Overview:^[1]^[2]
a) MRL is a part of Modi Group. It manufactures and sells tyres for trucks and bus.
b) It has 62 depots and 20 C&F agents, with a network of over 3000 dealers
c) Company sells products under the brand MARATHAN
d) Company also manufactures resin coated sand and operates Salons

Website BSE NSE

Market Cap ₹ 260 Cr.
Current Price ₹ 104
High / Low ₹ 157 / 85.0
Stock P/E 24.1
Book Value ₹ 166
Dividend Yield 0.00 %
ROCE 9.53 %
ROE 6.92 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.63 times its book value
Company has delivered good profit growth of 43.9% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -12.1% over past five years.
Company has a low return on equity of 3.87% over last 3 years.
Earnings include an other income of Rs.46.0 Cr.
Company has high debtors of 182 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

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	0.70	0.52	0.56	0.56	0.41	1.19	0.64	0.63	0.71	0.77	0.71	0.80	1.25
	5.27	9.63	4.83	5.44	5.79	5.44	5.39	5.30	5.30	7.97	5.56	6.63	7.53
Operating Profit	-4.57	-9.11	-4.27	-4.88	-5.38	-4.25	-4.75	-4.67	-4.59	-7.20	-4.85	-5.83	-6.28
OPM %	-652.86%	-1,751.92%	-762.50%	-871.43%	-1,312.20%	-357.14%	-742.19%	-741.27%	-646.48%	-935.06%	-683.10%	-728.75%	-502.40%
	1.94	10.25	1.05	27.41	1.93	2.26	13.27	30.46	3.50	16.57	3.34	23.07	2.97
Interest	0.11	0.19	0.13	0.12	0.11	0.11	0.11	0.11	0.17	1.51	0.17	0.17	0.16
Depreciation	0.64	0.66	0.53	0.52	0.54	0.54	0.47	0.65	0.79	0.79	0.68	0.71	0.72
Profit before tax	-3.38	0.29	-3.88	21.89	-4.10	-2.64	7.94	25.03	-2.05	7.07	-2.36	16.36	-4.19
Tax %	66.57%	-48.28%	-11.86%	21.20%	-29.51%	12.50%	26.45%	8.39%	81.46%	50.35%	30.08%	17.30%	-24.34%
	-5.62	0.43	-3.42	17.25	-2.89	-2.98	5.83	22.93	-3.72	3.51	-3.07	13.53	-3.17
EPS in Rs	-2.24	0.17	-1.37	6.89	-1.15	-1.19	2.33	9.16	-1.49	1.40	-1.23	5.40	-1.27
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013 18m	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	9	4	5	5	5	6	5	5	3	2	3	3	4
	24	19	18	19	19	24	21	20	16	23	22	24	28
Operating Profit	-14	-14	-13	-13	-14	-18	-16	-15	-13	-21	-19	-21	-24
OPM %	-153%	-318%	-243%	-244%	-276%	-299%	-299%	-286%	-439%	-971%	-691%	-771%	-684%
	44	18	16	18	20	40	25	27	24	31	33	64	46
Interest	0	0	0	0	0	0	1	1	1	1	0	2	2
Depreciation	2	1	2	1	1	3	3	3	3	3	2	3	3
Profit before tax	28	3	1	4	4	19	5	8	7	7	11	38	17
Tax %	4%	61%	-9%	-44%	-78%	115%	15%	34%	-7%	28%	29%	25%
	27	1	1	5	7	-3	5	6	8	5	8	29	11
EPS in Rs	10.89	0.50	0.48	2.09	2.77	-1.13	1.84	2.26	3.08	2.09	3.18	11.41	4.30
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-5%
5 Years:	-12%
3 Years:	-3%
TTM:	11%

Compounded Profit Growth
10 Years:	35%
5 Years:	44%
3 Years:	24%
TTM:	-51%

Stock Price CAGR
10 Years:	15%
5 Years:	27%
3 Years:	14%
1 Year:	3%

Return on Equity
10 Years:	3%
5 Years:	4%
3 Years:	4%
Last Year:	7%

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	25	25	25	25	25	25	25	25	25	25	25	25	25
Reserves	109	111	112	117	135	132	140	143	162	324	326	355	390
	5	3	3	3	4	4	3	3	4	4	4	6	6
	49	42	38	38	41	40	34	30	22	66	64	62	67
Total Liabilities	188	180	178	183	204	200	202	202	213	419	419	448	487
	15	13	13	10	13	32	29	29	27	216	214	218	217
CWIP	0	0	0	5	19	0	0	0	0	2	10	10	10
Investments	54	67	87	82	82	88	101	109	128	138	134	161	194
	119	100	78	85	91	80	72	63	58	64	61	60	67
Total Assets	188	180	178	183	204	200	202	202	213	419	419	448	487

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
	-30	-1	7	-16	-15	-21	-20	-11	-4	-21	-17	-30
	28	1	-8	17	14	32	16	9	-0	23	18	30
	-0	0	0	-0	1	-0	-1	-0	-1	-1	-0	-1
Net Cash Flow	-3	1	-0	0	-0	11	-4	-2	-5	1	1	-1

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	3	50	122	171	205	68	30	81	96	51	301	182
Inventory Days
Days Payable
Cash Conversion Cycle	3	50	122	171	205	68	30	81	96	51	301	182
Working Capital Days	-67	-748	-1,818	-1,604	-2,296	-2,088	-1,964	-1,660	1,663	-1,784	-1,927	-480
ROCE %	-2%	2%	2%	1%	2%	-2%	3%	5%	8%	3%	3%	10%

Shareholding Pattern

Numbers in percentages

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	62.69%	62.69%	62.69%	62.67%	62.69%	62.69%	59.50%	59.50%	62.69%	62.69%	62.69%	62.69%
	0.15%	0.15%	2.15%	2.15%	2.15%	2.15%	2.15%	2.10%	2.10%	2.03%	2.02%	2.02%
	2.01%	2.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%
	35.14%	35.14%	35.13%	35.16%	35.15%	35.14%	38.35%	38.41%	35.20%	35.28%	35.27%	35.28%
No. of Shareholders	13,618	13,612	13,496	13,284	13,184	13,117	13,156	13,553	13,915	14,099	14,105	14,096

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Dec 2024
	62.69%	62.69%	62.69%	62.69%	62.69%	62.69%	62.69%	62.69%	62.69%
	0.00%	0.00%	0.49%	0.49%	0.49%	0.15%	2.15%	2.10%	2.02%
	2.93%	2.93%	2.01%	2.01%	2.01%	2.01%	0.00%	0.00%	0.01%
	34.38%	34.38%	34.80%	34.81%	34.81%	35.14%	35.15%	35.20%	35.28%
No. of Shareholders	12,962	12,067	11,951	11,848	13,127	13,618	13,184	13,915	14,096

* 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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Modi Rubber Ltd

Modi Rubber Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

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