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Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 500265 | NSE: MAHSEAMLES

Maharashtra Seamless Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 20, 2024, 9:47 pm

Market Cap 8,179 Cr.
Current Price 610
High / Low1,099/563
Stock P/E9.70
Book Value 444
Dividend Yield1.64 %
ROCE22.9 %
ROE18.1 %
Face Value 5.00
PEG Ratio0.18

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Maharashtra Seamless Ltd

Competitors of Maharashtra Seamless Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Maharashtra Seamless Ltd 8,179 Cr. 6101,099/5639.70 4441.64 %22.9 %18.1 % 5.00
Industry Average8,179.00 Cr610.009.70444.001.64%22.90%18.10%5.00

All Competitor Stocks of Maharashtra Seamless Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales6909511,1391,4281,3341,4141,3391,6331,2231,5351,4311,2151,151
Expenses5708169791,2621,1151,1711,1001,3199881,2071,0659451,032
Operating Profit120135160167220243239314235328366270119
OPM %17%14%14%12%16%17%18%19%19%21%26%22%10%
Other Income32322226182218273330354465
Interest1111121211139671101
Depreciation35343435353435343426262425
Profit before tax106122136146193217213301228331374290158
Tax %10%22%24%-171%28%26%25%-24%9%24%26%25%18%
Net Profit9695104396140161160373207251276218129
EPS in Rs7.156.787.0729.3110.4112.0211.9127.6215.4218.6920.5916.309.65

Last Updated: October 22, 2024, 12:30 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 22, 2024, 12:30 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales1,7291,2091,3551,0191,4342,1503,0522,6452,3084,2115,7165,4045,332
Expenses1,5581,1201,2499801,2091,8392,3832,1351,8673,6284,7054,2054,250
Operating Profit17289105382253116695094415831,0111,1991,083
OPM %10%7%8%4%16%14%22%19%19%14%18%22%20%
Other Income706474577699-117-197-9111188142174
Interest7520263442396456453883
Depreciation3837317171768088121138138110100
Profit before tax197111129-21962924331611735119241,2231,153
Tax %23%13%29%1,521%41%31%53%29%30%-35%17%22%
Net Profit152102118-24116200202115121692768952874
EPS in Rs10.807.398.79-1.819.2115.7317.486.267.3251.6257.0771.0065.23
Dividend Payout %28%40%28%-69%27%19%17%20%24%5%9%14%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-32.89%15.69%-120.34%583.33%72.41%1.00%-43.07%5.22%471.90%10.98%23.96%
Change in YoY Net Profit Growth (%)0.00%48.58%-136.03%703.67%-510.92%-71.41%-44.07%48.29%466.68%-460.92%12.98%

Maharashtra Seamless Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:16%
5 Years:12%
3 Years:33%
TTM:-11%
Compounded Profit Growth
10 Years:30%
5 Years:26%
3 Years:69%
TTM:-15%
Stock Price CAGR
10 Years:15%
5 Years:27%
3 Years:37%
1 Year:-30%
Return on Equity
10 Years:10%
5 Years:14%
3 Years:18%
Last Year:18%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 8:35 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital35343434343434343434676767
Reserves2,7792,7652,7632,5492,6502,8963,0373,1713,2653,9514,7075,6645,879
Borrowings1511389166657036261,0591,14592270924400
Other Liabilities2763523134364704836668891,135695841857881
Total Liabilities3,2413,2884,0263,6843,8564,0394,7955,2395,3565,3885,8596,5886,827
Fixed Assets1,2601,2311,4721,1211,0951,2351,1732,3642,2682,1352,0161,9501,906
CWIP1503437311191723299131435
Investments7408341,3731,4441,5291,4611,2761,0071,0716461,1772,0982,625
Other Assets1,0911,1891,1431,0881,1131,3262,3221,8402,0082,5932,6512,5372,291
Total Assets3,2413,2884,0263,6843,8564,0394,7955,2395,3565,3885,8596,5886,827

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +30010910412224193-183748447-2699121,041
Cash from Investing Activity +-313-59-63012-10713-161-730-183563-386-722
Cash from Financing Activity +3-26527-141-133-953877-285-286-542-320
Net Cash Flow-10232-62104425-218-170

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow21.00-49.00-811.00-627.00-478.00-315.00668.00508.00-481.00-126.00-243.001.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days6710280967966595075484135
Inventory Days155186189246192132150172255182148175
Days Payable13632865553453129194612932
Cash Conversion Cycle21022524127721516515593135169160178
Working Capital Days177250233289219181223151171165135137
ROCE %6%2%3%0%6%9%18%11%9%12%20%23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters64.90%67.00%67.08%67.26%67.64%67.80%67.80%67.86%67.86%68.00%68.00%68.04%
FIIs1.00%1.15%1.28%2.67%3.08%2.84%5.96%7.98%10.50%11.96%9.23%7.97%
DIIs3.14%3.41%3.69%4.00%3.76%3.92%4.18%4.26%4.19%3.81%5.26%4.34%
Public30.96%28.44%27.95%26.08%25.52%25.43%22.05%19.89%17.44%16.22%17.49%19.65%
No. of Shareholders28,76027,64030,97536,51349,03347,26150,77154,87961,98969,66377,50096,466

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HSBC Small Cap Fund - Regular Plan1,852,3670.69118.9844,0112024-11-204108.87%
Quant Active Fund1,382,0310.7988.7744,0112024-11-203040.19%
Quant Small Cap Fund1,300,4970.3183.5344,0112024-11-202854.94%
L&T Flexicap Fund - Regular Plan568,6621.5444.4944,0112024-11-201192.09%
ITI Value Fund44,0110.932.8344,0112024-11-200%
Nippon India Nifty Smallcap 250 Index Fund39,2530.132.5244,0112024-11-20-10.81%
LIC MF Dividend Yield Fund37,0590.552.3844,0112024-11-20-15.8%
SBI Nifty Smallcap 250 Index Fund24,3270.131.5644,0112024-11-20-44.73%
DSP Nifty Smallcap250 Quality 50 Index Fund22,8010.961.4644,0112024-11-20-48.19%
Motilal Oswal Nifty Smallcap 250 Index Fund17,4000.131.1244,0112024-11-20-60.46%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue5.005.005.005.005.00
Basic EPS (Rs.)70.9957.0756.7514.6312.52
Diluted EPS (Rs.)70.9957.0756.7514.6312.52
Cash EPS (Rs.)80.8969.7685.2540.1834.88
Book Value[Excl.RevalReserv]/Share (Rs.)427.36355.96551.74492.36478.31
Book Value[Incl.RevalReserv]/Share (Rs.)427.66356.27551.74492.36478.31
Revenue From Operations / Share (Rs.)403.29426.60626.91344.53394.75
PBDIT / Share (Rs.)101.7684.26107.9282.5188.14
PBIT / Share (Rs.)93.5773.9987.3464.3875.02
PBT / Share (Rs.)92.9471.1379.7829.6828.63
Net Profit / Share (Rs.)72.7059.4864.6722.0521.76
NP After MI And SOA / Share (Rs.)70.9957.0756.7514.6312.52
PBDIT Margin (%)25.2319.7517.2123.9422.32
PBIT Margin (%)23.2017.3413.9318.6819.00
PBT Margin (%)23.0416.6712.728.617.25
Net Profit Margin (%)18.0213.9410.316.405.51
NP After MI And SOA Margin (%)17.6013.379.054.243.17
Return on Networth / Equity (%)16.5715.9810.282.972.65
Return on Capital Employeed (%)20.3618.6512.8610.0111.75
Return On Assets (%)14.4413.057.051.831.60
Long Term Debt / Equity (X)0.000.030.130.210.25
Total Debt / Equity (X)0.000.050.190.280.36
Asset Turnover Ratio (%)0.861.020.680.420.53
Current Ratio (X)8.405.903.152.041.89
Quick Ratio (X)4.743.131.441.111.10
Inventory Turnover Ratio (X)2.112.542.271.712.16
Dividend Payout Ratio (NP) (%)7.044.386.1617.0847.92
Dividend Payout Ratio (CP) (%)6.313.714.527.6323.40
Earning Retention Ratio (%)92.9695.6293.8482.9252.08
Cash Earning Retention Ratio (%)93.6996.2995.4892.3776.60
Interest Coverage Ratio (X)160.9929.4614.269.929.24
Interest Coverage Ratio (Post Tax) (X)116.0221.809.556.827.14
Enterprise Value (Cr.)11266.084966.094354.202712.092394.60
EV / Net Operating Revenue (X)2.080.861.041.170.90
EV / EBITDA (X)8.264.406.024.914.05
MarketCap / Net Operating Revenue (X)2.100.830.870.800.48
Retention Ratios (%)92.9595.6193.8382.9152.07
Price / BV (X)1.971.000.990.560.40
Price / Net Operating Revenue (X)2.100.830.870.800.48
EarningsYield0.080.150.100.050.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Maharashtra Seamless Ltd as of November 21, 2024 is: 792.32

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 21, 2024, Maharashtra Seamless Ltd is Undervalued by 29.89% compared to the current share price 610.00

Intrinsic Value of Maharashtra Seamless Ltd as of November 21, 2024 is: 1,227.12

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 21, 2024, Maharashtra Seamless Ltd is Undervalued by 101.17% compared to the current share price 610.00

Last 5 Year EPS CAGR: 54.88%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (3,544.31 cr) compared to borrowings (559.85 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (2.54 cr) and profit (240.54 cr) over the years.
  1. The stock has a low average ROCE of 9.92%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 194.25, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 185.25, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Maharashtra Seamless Ltd:
    1. Net Profit Margin: 18.02%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 20.36% (Industry Average ROCE: 22.9%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 16.57% (Industry Average ROE: 18.1%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 116.02
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 4.74
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 9.7 (Industry average Stock P/E: 9.7)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Maharashtra Seamless Ltd. is a Public Limited Listed company incorporated on 10/05/1988 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L99999MH1988PLC080545 and registration number is 080545. Currently company belongs to the Industry of Steel - Seamless Tubes. Company’s Total Operating Revenue is Rs. 3556.08 Cr. and Equity Capital is Rs. 33.50 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Steel - Seamless TubesPipe Nagar, Raigad District Maharashtra 402126secretarial@mahaseam.com
http://www.jindal.com
Management
NamePosition Held
Mr. D P JindalChairman
Mr. Saket JindalManaging Director
Mr. Raghav JindalJoint Managing Director
Mr. S P RajDirector
Mr. P N VijayDirector
Mr. Ashok BhandariDirector
Dr. Roma KumarDirector
Mr. Sanjeev RungtaDirector

FAQ

What is the latest intrinsic value of Maharashtra Seamless Ltd?

The latest intrinsic value of Maharashtra Seamless Ltd as on 21 November 2024 is ₹792.32, which is 29.89% higher than the current market price of ₹610.00.

What is the Market Cap of Maharashtra Seamless Ltd?

The Market Cap of Maharashtra Seamless Ltd is 8,179 Cr..

What is the current Stock Price of Maharashtra Seamless Ltd as on 21 November 2024?

The current stock price of Maharashtra Seamless Ltd as on 21 November 2024 is ₹610.

What is the High / Low of Maharashtra Seamless Ltd stocks in FY 2024?

In FY 2024, the High / Low of Maharashtra Seamless Ltd stocks is 1,099/563.

What is the Stock P/E of Maharashtra Seamless Ltd?

The Stock P/E of Maharashtra Seamless Ltd is 9.70.

What is the Book Value of Maharashtra Seamless Ltd?

The Book Value of Maharashtra Seamless Ltd is 444.

What is the Dividend Yield of Maharashtra Seamless Ltd?

The Dividend Yield of Maharashtra Seamless Ltd is 1.64 %.

What is the ROCE of Maharashtra Seamless Ltd?

The ROCE of Maharashtra Seamless Ltd is 22.9 %.

What is the ROE of Maharashtra Seamless Ltd?

The ROE of Maharashtra Seamless Ltd is 18.1 %.

What is the Face Value of Maharashtra Seamless Ltd?

The Face Value of Maharashtra Seamless Ltd is 5.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Maharashtra Seamless Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE