Modison Ltd

₹ 164 -1.47%

22 Nov 2:31 p.m.

About

Incorporated in 1975, Modison Ltd manufactures Electrical contacts in the LV, MV & HV segments^[1]

Key Points

Business Overview:^[1]
Modison is an ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 accredited company. It has a technical collaboration with DODUCO KG, Pforzheim, Germany and is one of the few companies globally manufacturing silver electrical contact materials and finished contacts for Low, Medium, High & Extra High Voltage switchgear industry

Website BSE NSE - BE

Market Cap ₹ 532 Cr.
Current Price ₹ 164
High / Low ₹ 233 / 95.2
Stock P/E 26.2
Book Value ₹ 63.5
Dividend Yield 1.53 %
ROCE 12.4 %
ROE 8.88 %
Face Value ₹ 1.00

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Pros

Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 34.9%

Cons

Stock is trading at 2.57 times its book value
Company has a low return on equity of 8.62% over last 3 years.

* 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

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	95.62	74.13	99.95	89.65	80.14	77.48	87.43	86.05	97.15	107.77	113.58	116.48	122.48
	86.58	68.98	91.06	85.47	78.34	70.08	76.36	79.39	89.83	99.23	104.14	108.36	112.32
Operating Profit	9.04	5.15	8.89	4.18	1.80	7.40	11.07	6.66	7.32	8.54	9.44	8.12	10.16
OPM %	9.45%	6.95%	8.89%	4.66%	2.25%	9.55%	12.66%	7.74%	7.53%	7.92%	8.31%	6.97%	8.30%
	0.49	0.54	-0.23	4.63	0.70	-7.90	1.50	2.56	2.33	-0.43	1.80	-3.52	4.19
Interest	0.48	0.35	0.46	0.36	0.22	0.56	0.58	0.32	0.59	0.98	0.93	1.21	1.60
Depreciation	1.61	1.63	1.85	1.57	1.57	1.58	1.60	1.48	1.48	1.57	1.75	1.71	1.78
Profit before tax	7.44	3.71	6.35	6.88	0.71	-2.64	10.39	7.42	7.58	5.56	8.56	1.68	10.97
Tax %	26.48%	25.34%	25.67%	25.87%	35.21%	-22.35%	26.18%	25.74%	25.99%	26.62%	28.04%	31.55%	25.34%
	5.47	2.77	4.72	5.10	0.46	-2.05	7.67	5.51	5.61	4.08	6.15	1.15	8.19
EPS in Rs	1.69	0.85	1.45	1.57	0.14	-0.63	2.36	1.70	1.73	1.26	1.90	0.35	2.52
Raw PDF

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
	159	184	171	168	191	201	220	219	292	340	335	405	460
	140	158	155	142	159	174	191	192	252	309	310	372	424
Operating Profit	19	26	17	26	31	27	30	27	40	30	25	32	36
OPM %	12%	14%	10%	16%	16%	14%	13%	12%	14%	9%	7%	8%	8%
	0	2	0	1	0	4	4	0	-2	-2	-1	6	2
Interest	3	3	4	4	3	2	2	2	2	2	2	3	5
Depreciation	6	6	7	6	6	6	6	6	6	7	6	6	7
Profit before tax	10	18	7	17	22	24	24	19	30	20	15	29	27
Tax %	36%	34%	31%	37%	35%	30%	32%	20%	25%	26%	27%	27%
	7	12	5	11	14	16	17	15	22	15	11	21	20
EPS in Rs	2.02	3.75	1.42	3.35	4.39	5.05	5.14	4.66	6.91	4.51	3.44	6.58	6.03
Dividend Payout %	50%	33%	53%	30%	23%	30%	29%	22%	22%	22%	29%	53%

Compounded Sales Growth
10 Years:	8%
5 Years:	13%
3 Years:	11%
TTM:	32%

Compounded Profit Growth
10 Years:	4%
5 Years:	3%
3 Years:	-11%
TTM:	-1%

Stock Price CAGR
10 Years:	12%
5 Years:	40%
3 Years:	32%
1 Year:	45%

Return on Equity
10 Years:	11%
5 Years:	11%
3 Years:	9%
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	3	3	3	3	3	3	3	3	3	3	3	3	3
Reserves	85	93	94	101	111	124	134	144	161	173	184	200	203
	24	26	27	21	18	13	21	26	12	17	5	32	47
	31	26	23	19	19	22	21	18	26	21	29	36	29
Total Liabilities	144	147	147	145	152	162	180	191	203	214	222	271	282
	61	60	57	61	60	60	58	58	62	70	69	79	86
CWIP	1	1	2	1	1	1	1	3	3	3	10	10	5
Investments	0	0	0	0	0	0	0	2	2	2	2	2	0
	82	86	88	82	91	101	121	128	135	140	141	180	190
Total Assets	144	147	147	145	152	162	180	191	203	214	222	271	282

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
	24	3	13	26	12	19	4	19	24	14	22	-4
	-12	-6	-6	-11	-3	-8	-4	-15	-4	-11	-12	-16
	-4	-4	-6	-15	-9	-10	0	-3	-21	1	-14	19
Net Cash Flow	7	-7	0	-0	0	0	-1	1	-1	4	-4	0

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	45	65	65	63	75	76	70	75	75	62	58	60
Inventory Days	145	122	130	132	120	124	154	146	104	90	109	109
Days Payable	9	8	11	15	11	14	11	11	10	9	13	11
Cash Conversion Cycle	181	179	184	180	184	185	214	209	168	143	154	158
Working Capital Days	96	120	136	135	139	141	163	169	134	124	122	126
ROCE %	13%	18%	8%	17%	20%	17%	16%	14%	20%	14%	10%	12%

Shareholding Pattern

Numbers in percentages

14 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%
	0.21%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.41%	0.48%	0.53%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.00%	0.00%	0.00%	0.00%
	47.67%	47.71%	47.89%	47.89%	47.90%	47.90%	47.88%	47.64%	47.88%	47.47%	47.40%	47.35%
No. of Shareholders	16,938	16,927	17,065	16,853	16,327	15,736	14,996	14,639	18,205	19,040	18,380	21,670

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	51.65%	51.65%	51.92%	52.53%	52.78%	52.77%	52.11%	52.11%	52.11%	52.11%
	0.00%	0.00%	0.15%	0.15%	0.15%	0.09%	0.17%	0.00%	0.41%	0.53%
	48.35%	48.35%	47.93%	47.32%	47.06%	47.14%	47.71%	47.90%	47.47%	47.35%
No. of Shareholders	3,783	4,500	6,457	6,171	5,817	7,278	16,927	15,736	19,040	21,670

* 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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