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Last Updated on: 22 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo

Marine Electricals (India) Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:12 am

Market Cap 4,110 Cr.
Current Price 298
High / Low 333/84.8
Stock P/E112
Book Value 25.6
Dividend Yield0.07 %
ROCE17.4 %
ROE13.4 %
Face Value 2.00
PEG Ratio3.33

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

View Share Price Target for Marine Electricals (India) Ltd

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Evans Electric Ltd 117 Cr. 426 504/16641.3 74.60.35 %36.4 %28.0 % 10.0
Epic Energy Ltd 94.8 Cr. 131 148/5.97126 10.00.00 %5.03 %5.49 % 10.0
Edvenswa Enterprises Ltd 176 Cr. 60.3 99.8/42.420.0 25.50.00 %23.5 %15.4 % 10.0
Cospower Engineering Ltd 91.5 Cr. 610 740/200102 49.80.00 %8.12 %1.54 % 10.0
Continental Controls Ltd 8.60 Cr. 14.0 18.5/5.81430 3.430.00 %7.82 %14.0 % 10.0
Industry Average12,096.02N/A128.42N/AN/A15.1518.32N/A

All Competitor Stocks of

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales54.8167.0055.3092.5598.6676.3865.1580.04116.40129.6886.08121.41124.31
Expenses49.4057.9052.7487.2690.0966.6061.6773.59102.50118.5377.22112.72114.83
Operating Profit5.419.102.565.298.579.783.486.4513.9011.158.868.699.48
OPM %9.87%13.58%4.63%5.72%8.69%12.80%5.34%8.06%11.94%8.60%10.29%7.16%7.63%
Other Income0.941.251.002.251.350.902.162.160.331.481.181.841.73
Interest1.962.231.581.561.581.741.762.442.182.242.262.232.95
Depreciation1.891.921.751.942.011.901.511.581.521.511.311.561.63
Profit before tax2.506.200.234.046.337.042.374.5910.538.886.476.746.63
Tax %29.60%26.61%78.26%21.29%30.49%31.11%27.43%28.76%21.27%29.84%26.58%26.56%22.17%
Net Profit1.774.550.053.184.404.841.723.278.286.234.764.955.16
EPS in Rs0.140.370.000.260.360.390.140.270.680.490.380.390.40

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2011Mar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales637898193209288323206200323391461
Expenses547087175189263305189177296356423
Operating Profit9811182125181723273538
OPM %15%10%11%9%10%9%6%8%11%8%9%8%
Other Income000222364566
Interest2233456986910
Depreciation111544388866
Profit before tax75713151811611182629
Tax %33%4%31%37%42%34%29%21%28%29%26%
Net Profit4558912858122021
EPS in Rs2.020.540.550.921.001.300.630.390.641.021.541.66
Dividend Payout %0%0%0%0%0%0%0%0%31%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2011-20122012-20132016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)25.00%0.00%12.50%33.33%-33.33%-37.50%60.00%50.00%66.67%
Change in YoY Net Profit Growth (%)0.00%-25.00%12.50%20.83%-66.67%-4.17%97.50%-10.00%16.67%

Marine Electricals (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2011-2012 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:%
5 Years:11%
3 Years:39%
TTM:36%
Compounded Profit Growth
10 Years:%
5 Years:28%
3 Years:53%
TTM:51%
Stock Price CAGR
10 Years:%
5 Years:72%
3 Years:90%
1 Year:205%
Return on Equity
10 Years:%
5 Years:9%
3 Years:11%
Last Year:13%

Last Updated: Unknown

Balance Sheet

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

MonthMar 2011Mar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital4171717171825252525252728
Reserves17813334257100101109120155196326
Borrowings11191928313343394829557672
Other Liabilities3236394567168114129116106138220204
Total Liabilities638089124157277280294298280372519630
Fixed Assets32323137422631463938394654
CWIP000001414002067
Investments0667771211119263637
Other Assets31435179108230223238247230307432532
Total Assets638089124157277280294298280372519630

Reserves and Borrowings Chart

Cash Flow

MonthMar 2011Mar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +0001931-4621-338-61
Cash from Investing Activity +000-8-8-21-7-0-2-11-27-24
Cash from Financing Activity +0006-3244-191-273324
Net Cash Flow000-1-312-102-4-1-01

Free Cash Flow

MonthMar 2011Mar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-2.00-11.00-8.00-10.00-10.00-8.00-25.00-22.00-25.00-2.00-20.00

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 2011Mar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days12111895110136186155215232135163179
Inventory Days16434245136150845566
Days Payable89128207131272232119130160
Cash Conversion Cycle1211189538512169791501008885
Working Capital Days03224235736102152210117113108
ROCE %18%20%22%23%12%9%10%13%16%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters73.52%73.52%73.63%73.71%73.71%74.46%74.46%73.84%72.87%71.98%71.17%68.45%
FIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.02%0.15%0.29%
DIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.11%0.07%
Public26.49%26.48%26.37%26.29%26.29%25.54%25.54%26.16%27.12%27.99%28.56%31.19%
No. of Shareholders69,83466,88164,44260,67657,53252,75552,44151,59449,30550,30455,98383,504

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
FaceValue2.002.002.002.0010.00
Basic EPS (Rs.)2.021.381.061.053.69
Diluted EPS (Rs.)2.021.361.061.053.69
Cash EPS (Rs.)2.711.971.851.856.54
Book Value[Excl.RevalReserv]/Share (Rs.)18.9017.0014.8013.8665.97
Book Value[Incl.RevalReserv]/Share (Rs.)18.9017.0014.8013.8665.97
Revenue From Operations / Share (Rs.)46.8935.0630.6820.49117.68
PBDIT / Share (Rs.)4.443.412.942.8511.56
PBIT / Share (Rs.)3.662.772.182.118.74
PBT / Share (Rs.)2.731.981.591.384.63
Net Profit / Share (Rs.)1.931.331.081.103.72
NP After MI And SOA / Share (Rs.)1.951.351.061.053.69
PBDIT Margin (%)9.479.739.5913.919.82
PBIT Margin (%)7.807.907.1010.287.42
PBT Margin (%)5.815.665.176.733.93
Net Profit Margin (%)4.113.793.535.383.15
NP After MI And SOA Margin (%)4.163.833.445.133.13
Return on Networth / Equity (%)10.338.157.437.915.79
Return on Capital Employeed (%)16.8614.4714.1114.1812.37
Return On Assets (%)4.203.643.473.362.37
Long Term Debt / Equity (X)0.100.100.020.050.05
Total Debt / Equity (X)0.380.310.200.290.29
Asset Turnover Ratio (%)1.151.060.970.580.62
Current Ratio (X)1.481.601.651.611.52
Quick Ratio (X)1.201.321.221.211.16
Inventory Turnover Ratio (X)6.364.393.602.163.02
Dividend Payout Ratio (NP) (%)0.000.0018.900.000.00
Dividend Payout Ratio (CP) (%)0.000.0010.980.000.00
Earning Retention Ratio (%)0.000.0081.100.000.00
Cash Earning Retention Ratio (%)0.000.0089.020.000.00
Interest Coverage Ratio (X)4.764.334.963.922.81
Interest Coverage Ratio (Post Tax) (X)3.072.692.832.521.90
Enterprise Value (Cr.)1273.74505.03411.73849.37258.65
EV / Net Operating Revenue (X)2.051.141.093.380.89
EV / EBITDA (X)21.6211.7211.4124.309.12
MarketCap / Net Operating Revenue (X)1.921.021.013.210.76
Retention Ratios (%)0.000.0081.090.000.00
Price / BV (X)4.772.172.174.951.42
Price / Net Operating Revenue (X)1.921.021.013.210.76
EarningsYield0.020.030.030.010.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Marine Electricals (India) Ltd as of December 22, 2024 is: 384.47

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 December 22, 2024, Marine Electricals (India) Ltd is Undervalued by 29.02% compared to the current share price 298.00

Intrinsic Value of Marine Electricals (India) Ltd as of December 22, 2024 is: 513.65

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 December 22, 2024, Marine Electricals (India) Ltd is Undervalued by 72.37% compared to the current share price 298.00

Last 5 Year EPS CAGR: 33.60%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (98.23 cr) compared to borrowings (38.69 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (236.08 cr) and profit (13.83 cr) over the years.
  1. The stock has a low average ROCE of 13.33%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 81.17, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 84.58, 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 Marine Electricals (India) Ltd:
    1. Net Profit Margin: 4.11%
      • 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: 16.86% (Industry Average ROCE: 15.15%)
      • 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%: 10.33% (Industry Average ROE: 18.32%)
      • 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): 3.07
      • 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: 1.2
      • 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: 112 (Industry average Stock P/E: 128.42)
      • 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: 0.38
      • 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

Marine Electricals (India) Ltd. is a Public Limited Listed company incorporated on 04/12/2007 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L31907MH2007PLC176443 and registration number is 176443. Currently Company is involved in the business activities of Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus. Company’s Total Operating Revenue is Rs. 322.89 Cr. and Equity Capital is Rs. 24.53 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Electric Equipment - GeneralNo: B/1, Udyog Sadan No.3, Mumbai Maharashtra 400093cs@marineelectricals.com
https://www.marineelectricals.com
Management
NamePosition Held
Mr. Vinay Krishna UchilChairman & Executive Director
Mr. Venkatesh Krishnappa UchilManaging Director
Mr. Shailendra ShuklaExecutive Director
Mr. Madan PendseInd. Non-Executive Director
Mr. Nikunj MishraInd. Non-Executive Director
Mr. Vikas JaywantInd. Non-Executive Director
Mr. Mohan RaoInd. Non-Executive Director
Ms. Archana Venkata RajagopalanInd. Non-Executive Director
Dr. Tanuja PudhierkarNon Exe.Non Ind.Director

FAQ

What is the latest intrinsic value of Marine Electricals (India) Ltd?

The latest intrinsic value of Marine Electricals (India) Ltd as on 22 December 2024 is ₹384.47, which is 29.02% higher than the current market price of ₹298.00. The stock has a market capitalization of 4,110 Cr. and recorded a high/low of 333/84.8 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹326 Cr and total liabilities of ₹630 Cr.

What is the Market Cap of Marine Electricals (India) Ltd?

The Market Cap of Marine Electricals (India) Ltd is 4,110 Cr..

What is the current Stock Price of Marine Electricals (India) Ltd as on 22 December 2024?

The current stock price of Marine Electricals (India) Ltd as on 22 December 2024 is 298.

What is the High / Low of Marine Electricals (India) Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Marine Electricals (India) Ltd stocks is 333/84.8.

What is the Stock P/E of Marine Electricals (India) Ltd?

The Stock P/E of Marine Electricals (India) Ltd is 112.

What is the Book Value of Marine Electricals (India) Ltd?

The Book Value of Marine Electricals (India) Ltd is 25.6.

What is the Dividend Yield of Marine Electricals (India) Ltd?

The Dividend Yield of Marine Electricals (India) Ltd is 0.07 %.

What is the ROCE of Marine Electricals (India) Ltd?

The ROCE of Marine Electricals (India) Ltd is 17.4 %.

What is the ROE of Marine Electricals (India) Ltd?

The ROE of Marine Electricals (India) Ltd is 13.4 %.

What is the Face Value of Marine Electricals (India) Ltd?

The Face Value of Marine Electricals (India) Ltd is 2.00.

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 Marine Electricals (India) 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