Mukand Ltd

₹ 167 -0.55%

03 Jul 11:42 a.m.

About

Mukand Ltd is engaged in manufacturing of special alloy steel, billets, bars, rods, EOT cranes, material handling equipment and other industrial machinery and comprehensive engineering services.^[1]

Key Points

Specialty Steel Division (~98%)^[1]
Under the division, the company offers various alloy steel and stainless steel products that cater to the requirements of auto components, engineering, oil & gas, petrochemicals, healthcare, food, architecture, building, and construction industries. ^[2]
Its product portfolio includes various types of special steel wire rods & black bars, special steel cold heating quality wire rods, electrode quality wire rods, Blooms/ Billets, bars, etc. ^[3]

Website BSE NSE

Market Cap ₹ 2,420 Cr.
Current Price ₹ 167
High / Low ₹ 213 / 120
Stock P/E 23.4
Book Value ₹ 65.5
Dividend Yield 1.19 %
ROCE 10.8 %
ROE 11.3 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 26.2% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 22.4%

Cons

Stock is trading at 2.57 times its book value
Company has low interest coverage ratio.
Company has a low return on equity of -6.95% 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: Steel Industry: Steel - Large

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	928	792	1,197	1,325	1,329	1,462	1,462	1,347	1,346	1,391	1,381	1,188	1,257
	1,119	755	1,145	1,260	1,244	1,383	1,415	1,270	1,715	1,319	1,308	1,125	1,173
Operating Profit	-191	37	53	65	85	80	48	78	-369	72	72	63	84
OPM %	-21%	5%	4%	5%	6%	5%	3%	6%	-27%	5%	5%	5%	7%
	636	4	2	24	3	3	22	7	554	3	3	6	4
Interest	55	39	38	40	44	43	46	50	36	33	33	34	32
Depreciation	12	11	11	11	11	11	12	14	14	12	12	12	12
Profit before tax	377	-10	6	38	32	28	12	20	134	30	30	24	45
Tax %	40%	96%	-95%	10%	-47%	19%	6%	17%	-1%	7%	20%	9%	32%
	228	-0	12	34	47	23	11	17	134	28	24	21	30
EPS in Rs	16.11	-0.03	0.83	2.42	3.31	1.59	0.79	1.15	9.30	1.91	1.69	1.48	2.11
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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
	2,126	2,533	2,819	2,731	2,667	3,070	3,588	2,818	2,681	4,643	5,618	5,218
	2,013	2,378	2,481	2,397	2,316	3,004	3,438	2,712	2,883	4,403	5,771	4,925
Operating Profit	113	155	339	334	350	66	150	107	-203	240	-153	292
OPM %	5%	6%	12%	12%	13%	2%	4%	4%	-8%	5%	-3%	6%
	118	34	5	21	220	284	79	52	666	32	573	16
Interest	215	244	266	279	425	267	303	338	307	161	175	131
Depreciation	64	67	75	74	71	56	58	75	69	45	51	48
Profit before tax	-48	-123	2	2	74	26	-132	-255	88	66	194	128
Tax %	17%	28%	26%	24%	85%	-71%	36%	23%	48%	-39%	5%	19%
	-39	-88	2	2	11	44	-84	-196	46	92	185	104
EPS in Rs	-2.70	-6.22	0.11	0.11	0.79	3.12	-5.95	-13.83	3.25	6.48	12.84	7.17
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	31%	24%	16%	28%

Compounded Sales Growth
10 Years:	7%
5 Years:	8%
3 Years:	25%
TTM:	-7%

Compounded Profit Growth
10 Years:	13%
5 Years:	26%
3 Years:	30%
TTM:	130%

Stock Price CAGR
10 Years:	16%
5 Years:	31%
3 Years:	5%
1 Year:	39%

Return on Equity
10 Years:	-8%
5 Years:	-22%
3 Years:	-7%
Last Year:	11%

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
Equity Capital	73	141	141	141	141	141	141	141	141	145	145	145
Reserves	2,003	1,985	1,974	1,971	220	993	912	716	756	596	737	802
Preference Capital	6	6	6	6	0	4	3	4	4	6	6
	2,160	2,306	2,558	2,734	2,878	1,949	2,373	2,533	1,817	2,031	1,499	1,489
	927	1,146	1,123	1,111	1,163	1,299	952	1,019	662	827	802	637
Total Liabilities	5,164	5,579	5,797	5,957	4,402	4,381	4,378	4,409	3,377	3,598	3,183	3,072
	2,408	2,486	2,448	2,407	693	562	505	516	447	484	447	441
CWIP	146	50	26	29	39	23	23	30	26	32	30	34
Investments	228	251	251	251	267	1,428	1,453	1,429	715	188	275	121
	2,382	2,792	3,072	3,270	3,404	2,368	2,397	2,435	2,189	2,894	2,431	2,476
Total Assets	5,164	5,579	5,797	5,957	4,402	4,381	4,378	4,409	3,377	3,598	3,183	3,072

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
	12	-26	12	117	295	764	-172	121	-262	-105	174	77
	-78	-19	2	-31	-33	89	8	16	1,353	338	558	102
	72	50	-14	-101	-260	-859	153	-136	-1,071	-212	-736	-166
Net Cash Flow	5	4	-0	-15	2	-6	-10	0	19	21	-5	13

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	136	130	128	149	138	37	45	54	70	39	34	42
Inventory Days	356	386	416	471	427	233	235	324	221	184	133	161
Days Payable	252	280	254	270	275	209	143	184	85	64	50	47
Cash Conversion Cycle	240	236	290	350	290	61	137	195	206	159	117	155
Working Capital Days	144	143	192	223	236	83	120	150	198	132	97	119
ROCE %	1%	3%	6%	6%	12%	10%	5%	2%	-8%	7%	-7%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	74.35%	74.35%	74.61%	74.72%	73.82%	73.82%	73.82%	74.36%	74.70%	74.70%	74.70%	74.70%
	0.01%	0.04%	0.07%	0.07%	0.03%	0.08%	0.04%	0.14%	0.06%	0.08%	0.32%	0.23%
	3.59%	3.59%	3.59%	3.59%	3.27%	2.18%	2.18%	2.10%	1.52%	1.17%	1.19%	1.56%
	22.05%	22.02%	21.73%	21.62%	22.88%	23.92%	23.96%	23.40%	23.72%	24.04%	23.78%	23.50%
No. of Shareholders	31,754	32,641	32,347	33,096	44,627	45,267	43,175	43,783	44,839	47,593	49,809	49,481

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	71.68%	73.12%	73.71%	74.35%	74.35%	74.72%	74.36%	74.70%
	0.02%	0.00%	0.09%	0.00%	0.00%	0.07%	0.14%	0.23%
	5.23%	3.84%	3.82%	3.79%	3.59%	3.59%	2.10%	1.56%
	23.06%	23.04%	22.38%	21.86%	22.06%	21.62%	23.40%	23.50%
No. of Shareholders	41,726	41,782	37,696	36,006	33,580	33,096	43,783	49,481

* 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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Mukand Ltd

Mukand Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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