Mukand Ltd

₹ 169 0.52%

03 Jul 9:52 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 ₹ 2,446 Cr.
Current Price ₹ 169
High / Low ₹ 213 / 120
Stock P/E 23.8
Book Value ₹ 63.8
Dividend Yield 1.19 %
ROCE 10.8 %
ROE 11.6 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 23.5% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 19.1%

Cons

Stock is trading at 2.64 times its book value
Company has low interest coverage ratio.
Company has a low return on equity of -9.35% 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	924	793	1,199	1,324	1,331	1,464	1,462	1,330	1,312	1,382	1,377	1,177	1,239
	1,399	757	1,145	1,255	1,244	1,383	1,424	1,256	1,691	1,305	1,307	1,114	1,156
Operating Profit	-476	37	55	68	88	82	38	75	-379	77	70	62	83
OPM %	-52%	5%	5%	5%	7%	6%	3%	6%	-29%	6%	5%	5%	7%
	637	80	7	25	7	3	22	7	554	3	3	6	4
Interest	59	39	38	40	44	43	46	51	38	33	33	34	31
Depreciation	12	11	11	11	11	11	12	14	15	12	12	12	12
Profit before tax	90	66	12	42	39	31	3	16	123	34	28	22	43
Tax %	169%	-15%	-42%	17%	-37%	19%	8%	-19%	-2%	9%	16%	12%	32%
	-61	76	18	35	54	25	2	19	125	31	23	19	29
EPS in Rs	-4.34	5.37	1.24	2.48	3.81	1.75	0.17	1.30	8.68	2.14	1.61	1.34	2.01
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	2,138	2,516	3,016	2,953	2,713	3,436	3,689	2,923	2,726	4,643	5,568	5,175
	2,034	2,329	2,643	2,593	2,351	3,216	3,542	2,848	3,228	4,404	5,739	4,883
Operating Profit	104	188	373	360	361	220	148	75	-502	239	-172	292
OPM %	5%	7%	12%	12%	13%	6%	4%	3%	-18%	5%	-3%	6%
	-48	16	-7	12	45	1,331	79	68	748	119	573	16
Interest	226	254	276	293	294	473	327	364	332	161	177	131
Depreciation	65	68	76	77	72	158	58	75	69	45	52	50
Profit before tax	-234	-118	13	2	42	920	-158	-296	-155	151	172	127
Tax %	4%	28%	12%	280%	127%	11%	27%	19%	-32%	-17%	0%	19%
	-224	-84	12	-6	-11	821	-115	-240	-204	176	172	103
EPS in Rs	-15.32	-5.98	0.79	-0.53	-0.80	58.06	-8.17	-16.96	-14.41	12.47	11.89	7.11
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	-7%	12%	17%	28%

Compounded Sales Growth
10 Years:	7%
5 Years:	7%
3 Years:	24%
TTM:	-7%

Compounded Profit Growth
10 Years:	14%
5 Years:	24%
3 Years:	28%
TTM:	127%

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

Return on Equity
10 Years:	-18%
5 Years:	-38%
3 Years:	-9%
Last Year:	12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	147	141	141	141	141	141	141	141	145	145	145
Reserves	1,740	1,726	1,725	1,714	173	938	774	529	321	522	709	777
Preference Capital	6	0	6	6	0	4	3	4	4	6	6
	2,244	2,365	2,615	2,846	2,979	2,120	2,572	2,751	2,072	2,031	1,499	1,489
	1,145	1,393	1,381	1,391	1,181	1,247	979	1,038	703	827	825	636
Total Liabilities	5,202	5,632	5,863	6,093	4,474	4,447	4,465	4,460	3,237	3,524	3,178	3,046
	2,417	2,500	2,461	2,429	693	562	505	516	447	484	488	482
CWIP	147	52	38	31	39	23	23	30	26	32	30	34
Investments	54	39	38	36	133	1,268	1,287	1,214	528	128	159	10
	2,584	3,040	3,326	3,597	3,609	2,594	2,650	2,700	2,236	2,880	2,501	2,520
Total Assets	5,202	5,632	5,863	6,093	4,474	4,447	4,465	4,460	3,237	3,524	3,178	3,046

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-46	-59	19	135	319	894	-56	150	-328	-102	106	65
	-99	-9	-11	-35	-36	88	7	12	1,345	280	619	99
	152	77	-10	-94	-283	-987	40	-159	-997	-166	-728	-152
Net Cash Flow	7	10	-3	5	-0	-5	-9	2	20	12	-3	12

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	134	135	122	144	137	31	45	52	69	39	30	38
Inventory Days	354	413	380	417	456	220	227	309	217	184	144	173
Days Payable	250	296	230	238	294	196	138	172	84	64	50	48
Cash Conversion Cycle	237	253	273	323	299	56	134	189	203	159	125	163
Working Capital Days	150	154	189	220	252	97	138	175	197	132	101	123
ROCE %	1%	4%	7%	7%	8%	4%	5%	2%	-18%	8%	-8%

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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