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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

Mangalam Cement Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 20, 2024, 9:46 pm

Market Cap 2,206 Cr.
Current Price 802
High / Low1,096/412
Stock P/E41.2
Book Value 301
Dividend Yield0.19 %
ROCE11.9 %
ROE7.63 %
Face Value 10.0
PEG Ratio-7.13

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

View Share Price Target for Mangalam Cement Ltd

Competitors of Mangalam Cement Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
IITL Projects Ltd 24.0 Cr. 48.067.2/15.07.42 70.70.00 %%% 10.0
HB Estate Developers Ltd 172 Cr. 88.3125/41.023.1 80.10.00 %7.00 %2.39 % 10.0
Hazoor Multi Projects Ltd 1,101 Cr. 55.963.9/13.613.1 19.50.54 %%% 1.00
Gyan Developers & Builders Ltd 6.92 Cr. 23.033.8/6.74 12.70.00 %4.02 %3.75 % 10.0
GG Dandekar Properties Ltd 56.2 Cr. 118163/87.4 96.90.00 %1.27 %9.45 % 1.00
Industry Average17,891.15 Cr272.6332.13129.970.16%24.93%17.75%22.76

All Competitor Stocks of Mangalam Cement Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales341411358376380452514399429459421428439
Expenses266336279338334396440392408414369380382
Operating Profit7576793846557472145514857
OPM %22%18%22%10%12%12%14%2%5%10%12%11%13%
Other Income6648784-10156686
Interest17181417161718191515161817
Depreciation13161416161617171817181819
Profit before tax52485413213044-39320232027
Tax %37%26%35%17%34%42%36%31%83%22%36%41%41%
Net Profit33353511141728-27116151216
EPS in Rs12.2513.2513.144.155.286.3610.22-9.860.195.685.344.295.80

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales6317066979228421,0451,0801,2001,2281,3051,5661,8021,748
Expenses5275756428317979279971,1421,0291,0601,3481,6541,546
Operating Profit1041315690451188257200245218148202
OPM %16%19%8%10%5%11%8%5%16%19%14%8%12%
Other Income675062128243025271625
Interest35938464747516369646665
Depreciation32252834374044464963626972
Profit before tax751082419-315019-161171381192890
Tax %25%28%-24%6%31%27%40%39%35%32%35%38%
Net Profit56773018-213711-107693781758
EPS in Rs20.9728.9811.096.71-8.0413.724.26-3.6528.4335.0228.266.2321.11
Dividend Payout %29%21%27%30%-6%5%12%-14%4%4%5%24%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)37.50%-61.04%-40.00%-216.67%276.19%-70.27%-190.91%860.00%22.37%-16.13%-78.21%
Change in YoY Net Profit Growth (%)0.00%-98.54%21.04%-176.67%492.86%-346.46%-120.64%1050.91%-837.63%-38.50%-62.08%

Mangalam Cement Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:8%
3 Years:10%
TTM:-7%
Compounded Profit Growth
10 Years:7%
5 Years:47%
3 Years:-14%
TTM:26%
Stock Price CAGR
10 Years:10%
5 Years:24%
3 Years:29%
1 Year:93%
Return on Equity
10 Years:6%
5 Years:10%
3 Years:7%
Last Year:8%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 8:34 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital27272727272727272828282828
Reserves466480491447479488477549640715729784800
Borrowings211368382428391372518585632628621607646
Other Liabilities265267312291316333393432558558612649593
Total Liabilities9691,1421,2121,1921,2131,2201,4141,5931,8581,9281,9902,0682,068
Fixed Assets3495157577448148318219159801,1411,1701,1651,169
CWIP2142553171495732111210174311
Investments363636202836336571104788498
Other Assets370337388358323348487591694673725776790
Total Assets9691,1421,2121,1921,2131,2201,4141,5931,8581,9281,9902,0682,068

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +1066348751638684216234189139182
Cash from Investing Activity +-242-226-50-62-91-17-176-156-172-134-64-112
Cash from Financing Activity +187116-18-13-77-67833-41-73-89-86
Net Cash Flow52-46-20-0-52-96320-18-14-15

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow104.00-80.00-312.00-292.00-383.00-273.00-290.00-461.00-385.00-387.00-410.00-473.00

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 Days16121115121211811987
Inventory Days654266305202216210200421366270320492
Days Payable271158200194269270286463316235310377
Cash Conversion Cycle39812011623-40-47-75-34604317123
Working Capital Days5656349-17-129647-2-2
ROCE %20%4%7%2%11%7%3%17%17%14%8%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters24.99%26.63%30.14%31.95%31.95%31.95%34.35%36.32%36.63%36.94%36.94%36.94%
FIIs6.75%6.52%6.62%6.64%6.33%6.41%6.75%6.82%6.20%5.70%6.32%6.17%
DIIs2.67%2.60%2.60%2.60%2.60%2.60%2.62%2.62%3.40%4.36%4.75%3.88%
Public65.59%64.25%60.64%58.81%59.10%59.04%56.28%54.26%53.76%53.00%51.97%53.00%
No. of Shareholders24,18637,37737,88436,96536,55336,20135,83134,98832,21034,06532,43133,027

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)1.690.88-6.04-0.96-8.64
Diluted EPS (Rs.)1.690.88-6.04-0.96-8.64
Cash EPS (Rs.)2.421.91-4.47-7.32-5.49
Book Value[Excl.RevalReserv]/Share (Rs.)-3.03-4.72-5.590.4410.08
Book Value[Incl.RevalReserv]/Share (Rs.)-3.03-4.72-5.590.4410.08
Revenue From Operations / Share (Rs.)20.9317.487.897.3912.64
PBDIT / Share (Rs.)4.784.27-2.79-5.61-3.78
PBIT / Share (Rs.)4.043.23-4.36-7.93-6.92
PBT / Share (Rs.)2.301.10-6.17-9.89-8.98
Net Profit / Share (Rs.)1.690.87-6.04-9.64-8.63
PBDIT Margin (%)22.8224.43-35.42-75.92-29.91
PBIT Margin (%)19.3118.50-55.32-107.34-54.80
PBT Margin (%)11.006.31-78.27-133.83-71.10
Net Profit Margin (%)8.075.00-76.53-130.47-68.34
Return on Networth / Equity (%)-55.83-18.540.00-2184.14-85.65
Return on Capital Employeed (%)112.23-1028.97-249.43-90.18-34.73
Return On Assets (%)10.316.23-40.36-46.45-27.85
Long Term Debt / Equity (X)-2.19-0.93-1.3118.920.97
Total Debt / Equity (X)-4.53-1.40-3.1337.631.68
Asset Turnover Ratio (%)1.381.210.440.280.35
Current Ratio (X)0.680.510.560.931.66
Quick Ratio (X)0.680.510.560.651.09
Interest Coverage Ratio (X)2.752.00-1.54-2.87-1.84
Interest Coverage Ratio (Post Tax) (X)1.971.41-2.34-3.92-3.19
Enterprise Value (Cr.)24.6612.4816.4914.5714.80
EV / Net Operating Revenue (X)1.721.043.062.881.71
EV / EBITDA (X)7.554.28-8.63-3.80-5.73
MarketCap / Net Operating Revenue (X)1.070.660.840.690.37
Price / BV (X)-7.43-2.48-1.2011.560.46
Price / Net Operating Revenue (X)1.070.660.840.690.37
EarningsYield0.070.07-0.90-1.89-1.84

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Mangalam Cement Ltd as of November 21, 2024 is: 948.01

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, Mangalam Cement Ltd is Undervalued by 18.21% compared to the current share price 802.00

Intrinsic Value of Mangalam Cement Ltd as of November 21, 2024 is: 893.21

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, Mangalam Cement Ltd is Undervalued by 11.37% compared to the current share price 802.00

Last 5 Year EPS CAGR: -5.78%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of 12.33, which is a positive sign.
  2. The company has higher reserves (580.38 cr) compared to borrowings (491.46 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (292.77 cr) and profit (56.92 cr) over the years.
  1. The stock has a low average ROCE of 10.17%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 58.67, 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 Mangalam Cement Ltd:
    1. Net Profit Margin: 8.07%
      • 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: 112.23% (Industry Average ROCE: 22.95%)
      • 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%: -55.83% (Industry Average ROE: 14.65%)
      • 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): 1.97
      • 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: 0.68
      • 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: 41.2 (Industry average Stock P/E: 23.46)
      • 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: -4.53
      • 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

Manav Infra Projects Ltd. is a Public Limited Listed company incorporated on 08/06/2009 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L45200MH2009PLC193084 and registration number is 193084. Currently company belongs to the Industry of Construction & Contracting. Company’s Total Operating Revenue is Rs. 5.39 Cr. and Equity Capital is Rs. 6.84 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Construction, Contracting & Engineering226, Gundecha Industrial-Complex, Mumbai Maharashtra 400101mip@manavinfra.com
http://www.manavinfra.com
Management
NamePosition Held
Mr. Mahendra Narayan RajuChairman & Managing Director
Mr. Dinesh Shivnath YadavExecutive Director
Ms. Mahalakshmi Mahendra RajuNon Executive Director
Mr. Mohan Madhav PaiIndependent Director
Mr. Atul Bhagavatishanker PurohitIndependent Director

FAQ

What is the latest intrinsic value of Mangalam Cement Ltd?

The latest intrinsic value of Mangalam Cement Ltd as on 21 November 2024 is ₹948.01, which is 18.21% higher than the current market price of ₹802.00.

What is the Market Cap of Mangalam Cement Ltd?

The Market Cap of Mangalam Cement Ltd is 2,206 Cr..

What is the current Stock Price of Mangalam Cement Ltd as on 21 November 2024?

The current stock price of Mangalam Cement Ltd as on 21 November 2024 is ₹802.

What is the High / Low of Mangalam Cement Ltd stocks in FY 2024?

In FY 2024, the High / Low of Mangalam Cement Ltd stocks is 1,096/412.

What is the Stock P/E of Mangalam Cement Ltd?

The Stock P/E of Mangalam Cement Ltd is 41.2.

What is the Book Value of Mangalam Cement Ltd?

The Book Value of Mangalam Cement Ltd is 301.

What is the Dividend Yield of Mangalam Cement Ltd?

The Dividend Yield of Mangalam Cement Ltd is 0.19 %.

What is the ROCE of Mangalam Cement Ltd?

The ROCE of Mangalam Cement Ltd is 11.9 %.

What is the ROE of Mangalam Cement Ltd?

The ROE of Mangalam Cement Ltd is 7.63 %.

What is the Face Value of Mangalam Cement Ltd?

The Face Value of Mangalam Cement 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 Mangalam Cement 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