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Last Updated: April 2, 2026, 4:52 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 523160 | NSE: MORGANITE

Morganite Crucible (India) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,197.72Fairly Valued by 2.55%vs CMP ₹1,229.00

P/E (27.8) × ROE (21.4%) × BV (₹242.00) × DY (3.99%)

₹584.55Overvalued by 52.44%vs CMP ₹1,229.00
MoS: -110.2% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,054.9322%Over (-14.2%)
Graham NumberEarnings₹472.8916%Over (-61.5%)
Earnings PowerEarnings₹333.8511%Over (-72.8%)
DCFCash Flow₹401.6113%Over (-67.3%)
Net Asset ValueAssets₹242.947%Over (-80.2%)
EV/EBITDAEnterprise₹710.969%Over (-42.2%)
Earnings YieldEarnings₹410.707%Over (-66.6%)
ROCE CapitalReturns₹634.989%Over (-48.3%)
Revenue MultipleRevenue₹310.825%Over (-74.7%)
Consensus (9 models)₹584.55100%Overvalued
Key Drivers: Wide model spread (₹243–₹1,055) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -11.9%

*Investments are subject to market risks

Investment Snapshot

68
Morganite Crucible (India) Ltd scores 68/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 30.4% ExcellentROE 21.4% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 75.0% Stable
Earnings Quality65/100 · Strong
OPM expanding (18% → 24%) Improving
Quarterly Momentum50/100 · Moderate
Revenue (4Q): 3% YoY FlatProfit (4Q): -9% YoY DecliningOPM: 30.8% (up 7.3% YoY) Margin expansion
Industry Rank70/100 · Strong
P/E 27.8 vs industry 27.1 In-lineROCE 30.4% vs industry 17.5% Above peersROE 21.4% vs industry 13.0% Above peers3Y sales CAGR: 5% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:52 am

Market Cap 688 Cr.
Current Price 1,229
Intrinsic Value₹584.55
High / Low 1,964/1,155
Stock P/E27.8
Book Value 242
Dividend Yield3.99 %
ROCE30.4 %
ROE21.4 %
Face Value 5.00
PEG Ratio-2.33

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

View Share Price Target for Morganite Crucible (India) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Morganite Crucible (India) Ltd 688 Cr. 1,229 1,964/1,15527.8 2423.99 %30.4 %21.4 % 5.00
IFGL Refractories Ltd 948 Cr. 132 340/12031.1 1582.66 %5.71 %3.94 % 10.0
Vesuvius India Ltd 9,004 Cr. 444 647/39734.1 82.00.34 %22.9 %17.1 % 1.00
Associated Ceramics Ltd 38.8 Cr. 190 264/14015.4 1270.00 %10.8 %9.55 % 10.0
Industry Average3,546.67 Cr498.7527.10152.251.75%17.45%13.00%6.50

All Competitor Stocks of Morganite Crucible (India) Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 41.4933.9842.6945.3540.0039.9042.9044.3144.6642.3242.5445.9346.09
Expenses 33.4330.2331.1932.5131.5034.2832.1231.4834.1835.7733.4133.1631.89
Operating Profit 8.063.7511.5012.848.505.6210.7812.8310.486.559.1312.7714.20
OPM % 19.43%11.04%26.94%28.31%21.25%14.09%25.13%28.96%23.47%15.48%21.46%27.80%30.81%
Other Income 1.821.641.151.122.83-2.201.961.752.751.522.112.51-2.14
Interest 0.000.000.000.040.060.030.080.080.050.030.040.040.01
Depreciation 2.022.032.042.212.112.091.952.172.312.622.772.823.19
Profit before tax 7.863.3610.6111.719.161.3010.7112.3310.875.428.4312.428.86
Tax % 24.94%40.77%26.48%29.04%27.07%46.92%26.33%27.74%27.78%46.86%31.55%29.39%37.13%
Net Profit 5.901.997.808.316.670.707.908.927.852.885.778.785.57
EPS in Rs 10.543.5513.9314.8411.911.2514.1115.9314.025.1410.3015.689.95

Last Updated: March 3, 2026, 7:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 17, 2026, 12:23 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 818989111109120129107152155168174177
Expenses 647068838610011196122129129133134
Operating Profit 17182029232017103025394143
OPM % 21%21%23%26%21%17%13%10%20%16%23%24%24%
Other Income 20223671325384
Interest 0000000000000
Depreciation 58754456788911
Profit before tax 1311162621221865422333935
Tax % 37%44%36%37%35%30%29%116%20%28%28%30%
Net Profit 861017141513-14316232823
EPS in Rs 15.0410.7517.6429.6424.7927.4523.43-1.6677.4828.7941.9549.1841.07
Dividend Payout % 3%5%11%13%32%29%34%0%70%69%95%100%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-25.00%66.67%70.00%-17.65%7.14%-13.33%-107.69%4400.00%-62.79%43.75%21.74%
Change in YoY Net Profit Growth (%)0.00%91.67%3.33%-87.65%24.79%-20.48%-94.36%4507.69%-4462.79%106.54%-22.01%

Morganite Crucible (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:6%
3 Years:5%
TTM:3%
Compounded Profit Growth
10 Years:16%
5 Years:16%
3 Years:-7%
TTM:-1%
Stock Price CAGR
10 Years:23%
5 Years:12%
3 Years:20%
1 Year:-6%
Return on Equity
10 Years:17%
5 Years:17%
3 Years:18%
Last Year:21%

Last Updated: September 5, 2025, 3:51 pm

Balance Sheet

Last Updated: February 1, 2026, 3:03 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 3333333333333
Reserves 535867778896105100120124126129133
Borrowings 0000000000112
Other Liabilities 27141838232832373234453727
Total Liabilities 827588118114127139139155161174170164
Fixed Assets 23181525273132303853628183
CWIP 0132041922151042
Investments 5550000000000
Other Assets 54516591879388871021061128680
Total Assets 827588118114127139139155161174170164

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 6318251721111926324325
Cash from Investing Activity + -2-2-15-8-10-291-7-2-10-17-29
Cash from Financing Activity + -0-0-0-1-3-7-4-4-24-12-22-24
Net Cash Flow 312164-1577094-28
Free Cash Flow 3213181310-1313252126-5
CFO/OP 67%54%115%121%117%140%94%225%128%157%143%90%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow17.0018.0020.0029.0023.0020.0017.0010.0030.0025.0038.0040.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 615059605752667675645865
Inventory Days 156142149158179159158143136124116100
Days Payable 232116119129176161145178154146185164
Cash Conversion Cycle -15758989604978415742-112
Working Capital Days 41696756044623371481639
ROCE %27%19%24%36%25%23%18%8%39%18%28%30%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs 0.19%0.19%0.06%0.00%0.00%0.13%0.18%0.18%0.18%0.18%0.18%0.16%
DIIs 0.02%0.02%0.02%0.02%0.02%0.55%0.62%0.93%1.02%1.13%1.13%1.19%
Public 24.79%24.79%24.91%24.97%24.98%24.32%24.20%23.88%23.80%23.70%23.70%23.64%
No. of Shareholders 5,5165,4405,6196,3186,2706,1916,6957,0497,0787,0357,4556,866

Shareholding Pattern Chart

No. of Shareholders

Morganite Crucible (India) Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 17Mar 16Mar 15Mar 14Mar 13
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 51.8735.6720.5730.1634.37
Diluted EPS (Rs.) 51.8735.6720.5730.1634.37
Cash EPS (Rs.) 75.3866.8152.6151.1555.75
Book Value[Excl.RevalReserv]/Share (Rs.) 343.51285.76253.44234.62204.61
Book Value[Incl.RevalReserv]/Share (Rs.) 343.51285.76253.44234.62204.61
Revenue From Operations / Share (Rs.) 397.75392.35393.06360.68357.27
PBDIT / Share (Rs.) 109.5595.2671.7072.1581.96
PBIT / Share (Rs.) 91.9165.5939.7252.1865.20
PBT / Share (Rs.) 91.9165.5939.7050.9565.06
Net Profit / Share (Rs.) 57.7437.1420.6231.1838.99
NP After MI And SOA / Share (Rs.) 51.8735.6720.5730.1634.37
PBDIT Margin (%) 27.5424.2818.2420.0022.94
PBIT Margin (%) 23.1016.7110.1014.4618.25
PBT Margin (%) 23.1016.7110.0914.1218.20
Net Profit Margin (%) 14.519.465.248.6410.91
NP After MI And SOA Margin (%) 13.049.095.238.369.62
Return on Networth / Equity (%) 16.5613.648.9214.2418.81
Return on Capital Employeed (%) 26.6022.6215.5421.4330.91
Return On Assets (%) 12.309.596.288.5010.51
Asset Turnover Ratio (%) 1.000.981.020.921.00
Current Ratio (X) 4.013.142.711.921.67
Quick Ratio (X) 3.272.411.871.331.11
Inventory Turnover Ratio (X) 2.262.142.252.072.12
Dividend Payout Ratio (NP) (%) 0.0011.214.863.312.90
Dividend Payout Ratio (CP) (%) 0.006.121.901.991.95
Earning Retention Ratio (%) 0.0088.7995.1496.6997.10
Cash Earning Retention Ratio (%) 0.0093.8898.1098.0198.05
Interest Coverage Ratio (X) 0.000.002707.0558.75569.16
Interest Coverage Ratio (Post Tax) (X) 0.000.00779.5326.39271.76
Enterprise Value (Cr.) 210.8992.31144.8565.3477.58
EV / Net Operating Revenue (X) 1.890.841.320.640.77
EV / EBITDA (X) 6.873.467.213.233.38
MarketCap / Net Operating Revenue (X) 2.231.041.390.750.85
Retention Ratios (%) 0.0088.7895.1396.6897.09
Price / BV (X) 2.831.562.381.291.68
Price / Net Operating Revenue (X) 2.231.041.390.750.85
EarningsYield 0.050.080.030.110.11

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Morganite Crucible (India) Ltd. is a Public Limited Listed company incorporated on 13/01/1986 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L26920MH1986PLC038607 and registration number is 038607. Currently company belongs to the Industry of Refractories. Company's Total Operating Revenue is Rs. 174.19 Cr. and Equity Capital is Rs. 2.80 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
RefractoriesB-11, MIDC Waluj, Aurangabad Maharashtra 431136Contact not found
Management
NamePosition Held
Ms. Poonam BopshettiDirector
Mr. Aniruddha KarveDirector
Mr. Jonathan PercivalDirector
Ms. Maithilee TambolkarIndependent Director
Mr. Ulhas GaoliIndependent Director
Mr. Chandrashekhar ChitaleIndependent Director

FAQ

What is the intrinsic value of Morganite Crucible (India) Ltd and is it undervalued?

As of 19 April 2026, Morganite Crucible (India) Ltd's intrinsic value is ₹584.55, which is 52.44% lower than the current market price of ₹1,229.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (21.4 %), book value (₹242), dividend yield (3.99 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Morganite Crucible (India) Ltd?

Morganite Crucible (India) Ltd is trading at ₹1,229.00 as of 19 April 2026, with a FY2026-2027 high of ₹1,964 and low of ₹1,155. The stock is currently near its 52-week low. Market cap stands at ₹688 Cr..

How does Morganite Crucible (India) Ltd's P/E ratio compare to its industry?

Morganite Crucible (India) Ltd has a P/E ratio of 27.8, which is above the industry average of 27.10. The premium over industry average may reflect growth expectations or speculative interest.

Is Morganite Crucible (India) Ltd financially healthy?

Key indicators for Morganite Crucible (India) Ltd: ROCE of 30.4 % indicates efficient capital utilization; ROE of 21.4 % shows strong shareholder returns. Dividend yield is 3.99 %.

Is Morganite Crucible (India) Ltd profitable and how is the profit trend?

Morganite Crucible (India) Ltd reported a net profit of ₹28 Cr in Mar 2025 on revenue of ₹174 Cr. Compared to ₹43 Cr in Mar 2022, the net profit shows a declining trend.

Does Morganite Crucible (India) Ltd pay dividends?

Morganite Crucible (India) Ltd has a dividend yield of 3.99 % at the current price of ₹1,229.00. This is a relatively attractive yield for income-seeking investors.

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 Morganite Crucible (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
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