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Last Updated on: 17 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Maral Overseas Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 15, 2024, 2:31 pm

Market Cap 310 Cr.
Current Price 74.6
High / Low102/61.0
Stock P/E
Book Value 28.6
Dividend Yield0.00 %
ROCE4.52 %
ROE7.27 %
Face Value 10.0
PEG Ratio0.00

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

View Share Price Target for Maral Overseas Ltd

Competitors of Maral Overseas Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Hisar Spinning Mills Ltd 24.7 Cr. 66.084.0/38.012.8 59.60.00 %12.5 %9.50 % 10.0
Rudra Ecovation Ltd 659 Cr. 62.882.6/22.21,569 7.740.00 %1.92 %4.05 % 1.00
H P Cotton Textile Mills Ltd 47.8 Cr. 122194/110 38.50.00 %4.39 %6.57 % 10.0
Gujarat Hy-Spin Ltd 28.9 Cr. 17.217.8/8.5027.2 11.20.00 %4.31 %0.90 % 10.0
Gem Spinners India Ltd 61.7 Cr. 10.010.6/3.27 0.310.00 %9.62 %% 5.00
Industry Average3,086.04 Cr197.3492.59131.040.33%35.08%10.57%7.41

All Competitor Stocks of Maral Overseas Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales193.17204.10224.05279.57263.20315.62259.10257.41237.89271.45227.66245.00227.63
Expenses169.64180.02195.73246.03229.74293.63249.09262.77235.09259.46229.99232.63213.81
Operating Profit23.5324.0828.3233.5433.4621.9910.01-5.362.8011.99-2.3312.3713.82
OPM %12.18%11.80%12.64%12.00%12.71%6.97%3.86%-2.08%1.18%4.42%-1.02%5.05%6.07%
Other Income1.253.833.825.397.555.544.984.733.322.243.343.794.51
Interest4.564.154.425.815.285.525.965.175.656.327.739.418.88
Depreciation6.005.955.936.226.737.237.247.137.488.128.248.608.80
Profit before tax14.2217.8121.7926.9029.0014.781.79-12.93-7.01-0.21-14.96-1.850.65
Tax %17.79%32.51%6.29%25.99%28.86%59.34%-11.73%16.32%10.98%-314.29%3.61%-23.78%-63.08%
Net Profit11.6912.0220.4219.9120.636.012.00-10.82-6.24-0.87-14.42-2.291.06
EPS in Rs2.822.904.924.804.971.450.48-2.61-1.50-0.21-3.47-0.550.26

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
Sales5365596536486196666417576766321,0821,026972
Expenses4975015655905726216157216685789651,006936
Operating Profit38588959474625368541172036
OPM %7%10%14%9%8%7%4%5%1%8%11%2%4%
Other Income58-11412151215178221514
Interest27231919191819171617212332
Depreciation19193835252318202424263034
Profit before tax-22431181421113-152192-18-16
Tax %0%0%5%5%25%33%-65%39%0%40%28%13%
Net Profit-2242917101418-151367-16-17
EPS in Rs-0.475.837.104.022.463.330.241.96-3.683.0216.14-3.84-3.97
Dividend Payout %0%0%0%0%0%0%0%0%0%0%12%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)1300.00%20.83%-41.38%-41.18%40.00%-92.86%700.00%-287.50%186.67%415.38%-123.88%
Change in YoY Net Profit Growth (%)0.00%-1279.17%-62.21%0.20%81.18%-132.86%792.86%-987.50%474.17%228.72%-539.27%

Maral Overseas 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:4%
5 Years:5%
3 Years:15%
TTM:3%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:73%
Stock Price CAGR
10 Years:14%
5 Years:37%
3 Years:-2%
1 Year:5%
Return on Equity
10 Years:8%
5 Years:6%
3 Years:9%
Last Year:-7%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 8:33 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital42424242424242424242424242
Reserves-151427385351594256124999077
Borrowings264247232239231211248223204243372476464
Other Liabilities4960595396100107126140180120150158
Total Liabilities340363359371421404455433442590633758740
Fixed Assets185165171153158157188182160175203346320
CWIP21311313302341915
Investments0000100011111
Other Assets153197184207260232264250279411388402404
Total Assets340363359371421404455433442590633758740

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +386185254468315638341661
Cash from Investing Activity +-6-24-45-14-22-26-39-11-2-31-90-122
Cash from Financing Activity +-31-38-36-15-24-4111-42-43-27659
Net Cash Flow2-14-3-2134-812-2

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow38.00-206.00-158.00-173.00-192.00-185.00-186.00-212.00-215.00-150.00-126.00-352.00

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 Days242024284547464156373546
Inventory Days9612291124138101838399164127124
Days Payable252420163840444860913727
Cash Conversion Cycle9511895135144108857595110125142
Working Capital Days425542667451595285779399
ROCE %17%19%13%11%12%6%9%0%12%30%1%5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%
FIIs0.32%0.31%0.17%0.12%0.10%0.09%0.09%0.16%0.09%0.10%0.08%0.08%
DIIs0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public24.73%24.74%24.88%24.94%24.95%24.95%24.95%24.89%24.97%24.94%24.97%24.96%
No. of Shareholders16,46416,51916,39416,69616,90816,69916,48117,32017,36918,50718,02017,650

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.)-2.35-3.8416.143.02-3.68
Diluted EPS (Rs.)-2.35-3.8416.143.02-3.68
Cash EPS (Rs.)5.903.3822.438.802.20
Book Value[Excl.RevalReserv]/Share (Rs.)31.6933.9739.9023.5220.18
Book Value[Incl.RevalReserv]/Share (Rs.)31.6933.9739.9023.5220.18
Dividend / Share (Rs.)0.000.002.000.000.00
Revenue From Operations / Share (Rs.)231.28247.15260.78152.26162.85
PBDIT / Share (Rs.)14.398.3633.6414.805.98
PBIT / Share (Rs.)6.141.1427.349.020.10
PBT / Share (Rs.)-2.04-4.4222.285.03-3.68
Net Profit / Share (Rs.)-2.35-3.8416.143.02-3.68
PBDIT Margin (%)6.223.3812.899.713.67
PBIT Margin (%)2.650.4610.485.920.06
PBT Margin (%)-0.88-1.788.543.30-2.26
Net Profit Margin (%)-1.01-1.556.181.98-2.26
Return on Networth / Equity (%)-7.42-11.2940.4412.83-18.24
Return on Capital Employeed (%)6.561.6541.0221.100.28
Return On Assets (%)-1.28-2.5111.362.83-3.53
Long Term Debt / Equity (X)1.180.640.400.490.45
Total Debt / Equity (X)3.232.331.311.792.38
Asset Turnover Ratio (%)1.381.682.101.451.52
Current Ratio (X)0.971.071.260.990.80
Quick Ratio (X)0.530.550.620.610.46
Inventory Turnover Ratio (X)3.503.374.733.904.17
Dividend Payout Ratio (NP) (%)0.00-52.120.000.000.00
Dividend Payout Ratio (CP) (%)0.0059.130.000.000.00
Earning Retention Ratio (%)0.00152.120.000.000.00
Cash Earning Retention Ratio (%)0.0040.870.000.000.00
Interest Coverage Ratio (X)1.761.506.643.711.58
Interest Coverage Ratio (Post Tax) (X)0.710.314.191.760.02
Enterprise Value (Cr.)679.41517.00549.28306.96229.08
EV / Net Operating Revenue (X)0.700.500.500.480.33
EV / EBITDA (X)11.3714.903.935.009.22
MarketCap / Net Operating Revenue (X)0.270.190.310.210.05
Retention Ratios (%)0.00152.120.000.000.00
Price / BV (X)1.981.382.051.390.46
Price / Net Operating Revenue (X)0.270.190.310.210.05
EarningsYield-0.03-0.080.190.09-0.39

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Maral Overseas Ltd as of November 17, 2024 is: 31.81

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 17, 2024, Maral Overseas Ltd is Overvalued by 57.36% compared to the current share price 74.60

Default values used*: Default value of 15 for Stock P/E is used

Intrinsic Value of Maral Overseas Ltd as of November 17, 2024 is: 30.23

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 17, 2024, Maral Overseas Ltd is Overvalued by 59.48% compared to the current share price 74.60

Default values used*: Default value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: -4.97%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has shown consistent growth in sales (566.23 cr) and profit (14.15 cr) over the years.
  1. The stock has a low average ROCE of 11.25%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 66.25, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 110.58, which may not be favorable.
  4. The company has higher borrowings (281.08) compared to reserves (55.00), which may suggest financial risk.

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 Maral Overseas Ltd:
    1. Net Profit Margin: -1.01%
      • 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: 6.56% (Industry Average ROCE: 35.08%)
      • 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%: -7.42% (Industry Average ROE: 10.57%)
      • 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): 0.71
      • 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: 0.53
      • 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: 0 (Industry average Stock P/E: 92.59)
      • 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: 3.23
      • 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

Maral Overseas Ltd. is a Public Limited Listed company incorporated on 27/01/1989 and has its registered office in the State of Madhya Pradesh, India. Company’s Corporate Identification Number(CIN) is L17124MP1989PLC008255 and registration number is 008255. Currently company belongs to the Industry of Textiles - Spinning - Cotton Blended. Company’s Total Operating Revenue is Rs. 1082.44 Cr. and Equity Capital is Rs. 41.51 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Textiles - Spinning - Cotton BlendedMaral Sarovar, V. & P.O. Khalbujurg, Khargone District Madhya Pradesh 451660maral.investor@lnjbhilwara.com
http://www.Injbhilwara.com
Management
NamePosition Held
Mr. L N JhunjhunwalaChairman Emeritus
Mr. Shekhar AgarwalChairman & M.D & CEO
Mr. Shantanu AgarwalJoint Managing Director
Mr. Ravi JhunjhunwalaNon Executive Director
Mr. Priya Shankar DasguptaIndependent Director
Mrs. Archana CapoorIndependent Director
Dr. Kamal GuptaIndependent Director

FAQ

What is the latest intrinsic value of Maral Overseas Ltd?

The latest intrinsic value of Maral Overseas Ltd as on 17 November 2024 is ₹31.81, which is 57.36% lower than the current market price of ₹74.60.

What is the Market Cap of Maral Overseas Ltd?

The Market Cap of Maral Overseas Ltd is 310 Cr..

What is the current Stock Price of Maral Overseas Ltd as on 17 November 2024?

The current stock price of Maral Overseas Ltd as on 17 November 2024 is ₹74.6.

What is the High / Low of Maral Overseas Ltd stocks in FY 2024?

In FY 2024, the High / Low of Maral Overseas Ltd stocks is 102/61.0.

What is the Stock P/E of Maral Overseas Ltd?

The Stock P/E of Maral Overseas Ltd is .

What is the Book Value of Maral Overseas Ltd?

The Book Value of Maral Overseas Ltd is 28.6.

What is the Dividend Yield of Maral Overseas Ltd?

The Dividend Yield of Maral Overseas Ltd is 0.00 %.

What is the ROCE of Maral Overseas Ltd?

The ROCE of Maral Overseas Ltd is 4.52 %.

What is the ROE of Maral Overseas Ltd?

The ROE of Maral Overseas Ltd is 7.27 %.

What is the Face Value of Maral Overseas Ltd?

The Face Value of Maral Overseas 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 Maral Overseas 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