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Last Updated on: 21 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Fundamental Analysis of Maithan Alloys Ltd

About the Company - Qualitative Analysis

Maithan Alloys Ltd. is a Public Limited Listed company incorporated on 19/09/1985 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L27101WB1985PLC039503 and registration number is 039503. Currently Company is involved in the business activities of Electric power generation, transmission and distribution. Company’s Total Operating Revenue is Rs. 3057.59 Cr. and Equity Capital is Rs. 29.11 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Ferro AlloysIdeal Centre, 4th Floor, Kolkata West Bengal 700017kolkata@maithanalloys.com
http://www.maithanalloys.com
Management
NamePosition Held
Mr. S C AgarwallaChairman & Managing Director
Mr. Subodh AgarwallaWholeTime Director & CEO
Mr. Nand Kishore AgarwalDirector
Mr. Ashok BhandariDirector
Mr. Vivek KaulDirector
Mr. P K VenkatramaniDirector
Mrs. Kalpana Biswas KunduDirector
Mr. Srinivas PeddiDirector

Basic Stock Data of Maithan Alloys Ltd

Last Updated: July 20, 2024, 10:53 pm

Market Cap 3,408 Cr.
Current Price 1,171
High / Low1,359/955
Stock P/E9.77
Book Value 1,079
Dividend Yield0.51 %
ROCE15.0 %
ROE11.7 %
Face Value 10.0
PEG Ratio1.72

Data Source: screener.in

Maithan Alloys Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales409446499566666923837975690685535404444
Expenses338376389425445529526631584639445363411
Operating Profit717011114122239431134510646904132
OPM %17%16%22%25%33%43%37%35%15%7%17%10%7%
Other Income466107511-603951434460
Interest0010000000100
Depreciation4444445555555
Profit before tax7172112147224394317280139921268087
Tax %22%22%25%24%27%24%24%22%22%21%22%25%28%
Net Profit55558411216430024221910973986062
EPS in Rs18.8719.0529.3038.5056.31103.0983.1175.2137.5125.0033.7120.4721.28

Last Updated: July 10, 2024, 12:29 pm

Maithan Alloys Ltd Quarterly Chart

Maithan Alloys Ltd Profit & Loss

Last Updated: July 10, 2024, 12:29 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales6739489571,1031,1461,3371,8731,9791,8161,6152,9892,8832,067
Expenses6078619049891,0151,0641,4891,6541,5811,3211,9132,2931,858
Operating Profit6686531141322733843252352941,075589209
OPM %10%9%6%10%11%20%21%16%13%18%36%20%10%
Other Income753148152666242772198
Interest419212217128863352
Depreciation10192327232515161616172021
Profit before tax60541266962443763272792991,082637384
Tax %25%19%9%21%18%26%22%22%20%23%24%22%
Net Profit4544115379180292255222230818499292
EPS in Rs15.5915.253.9118.0827.0961.72100.2487.6776.2779.29281.01171.43100.46
Dividend Payout %6%7%26%6%7%4%3%7%8%8%2%4%

Maithan Alloys Ltd Profit & Loss Yearly Chart

Maithan Alloys Ltd Growth

Compounded Sales Growth
10 Years:6%
5 Years:-3%
3 Years:2%
TTM:-40%
Compounded Profit Growth
10 Years:41%
5 Years:7%
3 Years:17%
TTM:-32%
Stock Price CAGR
10 Years:37%
5 Years:18%
3 Years:5%
1 Year:13%
Return on Equity
10 Years:23%
5 Years:21%
3 Years:23%
Last Year:12%

Last Updated: July 9, 2024, 4:46 pm

Maithan Alloys Ltd Balance Sheet

Last Updated: July 10, 2024, 12:29 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital15151515292929292929292929
Reserves2162542623083645568391,0831,2631,4922,2942,7752,880
Preference Capital000000000008
Borrowings20621125821413981457104951214
Other Liabilities254255254246266236303399213328422324354
Total Liabilities6917357887837999021,2151,5191,5161,8982,7513,1403,276
Fixed Assets225297293280267242238229217203276267258
CWIP651510000100214
Investments15383836367034362867958248701,395
Other Assets3863994524664965906356621,2929001,6512,0001,609
Total Assets6917357887837999021,2151,5191,5161,8982,7513,1403,276

Maithan Alloys Ltd Reserves and Borrowings Chart

Maithan Alloys Ltd Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 42-458136126284315-45117237968-411
Cash from Investing Activity -47-22-4-11-11-280-276696-761-105-962371
Cash from Financing Activity -3926-65-101-74-49-54-4337-62-5-9
Net Cash Flow-451-112441-44-15609-607701-49

Maithan Alloys Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days474854686362474756998454
Inventory Days1461181371099210993859515121481
Days Payable1948374778140558026806340
Cash Conversion Cycle-1831179974130855212517023694
Working Capital Days42394949445949388712213264
ROCE %17%16%7%17%21%42%49%33%20%20%56%26%

Maithan Alloys Ltd Financial Efficiency Indicators Chart

Maithan Alloys Ltd Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters74.99%74.99%74.99%74.99%74.99%74.98%74.98%74.98%74.98%74.98%74.98%74.99%
FIIs0.32%0.67%1.02%2.54%1.77%1.68%1.54%1.52%1.82%1.88%2.14%1.87%
DIIs0.61%0.48%0.51%0.62%0.62%0.59%0.59%0.55%0.56%0.52%0.44%0.15%
Public24.08%23.86%23.48%21.86%22.62%22.75%22.90%22.96%22.62%22.63%22.42%23.00%
No. of Shareholders25,34533,10933,64034,21735,17436,04936,21834,86133,39832,41233,21036,475

Maithan Alloys Ltd Shareholding Pattern Chart

No. of Maithan Alloys Ltd Shareholders

Maithan Alloys Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Nifty Microcap 250 Index Fund8,0550.150.88202024-07-1940175%
Groww Nifty Total Market Index Fund200.010202024-07-190%

Maithan Alloys Ltd ROCE Trend

Maithan Alloys Ltd EPS Trend

Maithan Alloys Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)119.87171.41281.0079.0276.27
Diluted EPS (Rs.)119.87171.41281.0079.0276.27
Cash EPS (Rs.)127.01178.36286.8284.3981.70
Book Value[Excl.RevalReserv]/Share (Rs.)1079.66963.67798.27522.62444.09
Book Value[Incl.RevalReserv]/Share (Rs.)1079.66963.67798.27522.62444.09
Revenue From Operations / Share (Rs.)593.83991.051027.98556.43628.95
PBDIT / Share (Rs.)162.12261.48377.99108.65102.64
PBIT / Share (Rs.)154.98254.54372.18103.2897.21
PBT / Share (Rs.)154.42218.76371.79102.8795.93
Net Profit / Share (Rs.)119.88171.41281.0279.0276.27
NP After MI And SOA / Share (Rs.)119.88171.44281.0279.3076.27
PBDIT Margin (%)27.3026.3836.7619.5216.31
PBIT Margin (%)26.0925.6836.2018.5615.45
PBT Margin (%)26.0022.0736.1618.4815.25
Net Profit Margin (%)20.1817.2927.3314.2012.12
NP After MI And SOA Margin (%)20.1817.2927.3314.2512.12
Return on Networth / Equity (%)11.1017.7935.2115.1717.18
Return on Capital Employeed (%)14.0226.0245.9619.2721.28
Return On Assets (%)10.0615.8929.7312.1614.64
Total Debt / Equity (X)0.010.000.000.020.01
Asset Turnover Ratio (%)0.520.971.320.941.20
Current Ratio (X)12.069.496.074.886.72
Quick Ratio (X)10.678.454.353.855.23
Inventory Turnover Ratio (X)2.822.512.022.303.43
Dividend Payout Ratio (NP) (%)0.003.502.130.0018.96
Dividend Payout Ratio (CP) (%)0.003.362.090.0017.70
Earning Retention Ratio (%)0.0096.5097.870.0081.04
Cash Earning Retention Ratio (%)0.0096.6497.910.0082.30
Interest Coverage Ratio (X)289.53339.81965.19263.5780.53
Interest Coverage Ratio (Post Tax) (X)215.09269.26718.58192.6960.84
Enterprise Value (Cr.)2798.581199.883764.841584.57387.56
EV / Net Operating Revenue (X)1.620.411.260.970.21
EV / EBITDA (X)5.931.583.425.011.30
MarketCap / Net Operating Revenue (X)1.650.801.290.960.55
Retention Ratios (%)0.0096.4997.860.0081.03
Price / BV (X)0.900.821.661.030.78
Price / Net Operating Revenue (X)1.650.801.290.960.55
EarningsYield0.120.210.210.140.21

Maithan Alloys Ltd Profitability Ratios (%)

Maithan Alloys Ltd Liquidity Ratios

Maithan Alloys Ltd Liquidity Ratios (%)

Maithan Alloys Ltd Interest Coverage Ratios (%)

Maithan Alloys Ltd Valuation Ratios

Fair Value

Fair Value: 1,239.68

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.

Undervalued: 5.87% compared to the current price 1171

Intrinsic Value: 1,309.90

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 11.86% compared to the current price 1171

Last 5 Year EPS CAGR: 5.66%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 27.00%, which is a positive sign.
  2. The company has higher reserves (1,216.92 cr) compared to borrowings (89.08 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (199.31 cr) and profit (218.08 cr) over the years.
  1. The stock has a high average Working Capital Days of 64.50, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 105.33, which may not be favorable.

FAQ

What is the latest fair value of Maithan Alloys Ltd?

The latest fair value of Maithan Alloys Ltd is ₹1239.68.

What is the Market Cap of Maithan Alloys Ltd?

The Market Cap of Maithan Alloys Ltd is 3,408 Cr..

What is the current Stock Price of Maithan Alloys Ltd as on 21 July 2024?

The current stock price of Maithan Alloys Ltd as on 21 July 2024 is 1,171.

What is the High / Low of Maithan Alloys Ltd stocks in FY 2024?

In FY 2024, the High / Low of Maithan Alloys Ltd stocks is 1,359/955.

What is the Stock P/E of Maithan Alloys Ltd?

The Stock P/E of Maithan Alloys Ltd is 9.77.

What is the Book Value of Maithan Alloys Ltd?

The Book Value of Maithan Alloys Ltd is 1,079.

What is the Dividend Yield of Maithan Alloys Ltd?

The Dividend Yield of Maithan Alloys Ltd is 0.51 %.

What is the ROCE of Maithan Alloys Ltd?

The ROCE of Maithan Alloys Ltd is 15.0 %.

What is the ROE of Maithan Alloys Ltd?

The ROE of Maithan Alloys Ltd is 11.7 %.

What is the Face Value of Maithan Alloys Ltd?

The Face Value of Maithan Alloys Ltd is 10.0.

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 Maithan Alloys 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