Multibase India Ltd: Share Price Analysis, Intrinsic Value & Fundamentals (2025)

Share Price and Basic Stock Data

Last Updated: January 21, 2025, 9:14 pm

Market Cap	422 Cr.
Current Price	334
High / Low	622/225
Stock P/E	28.3
Book Value	110
Dividend Yield	15.9 %
ROCE	11.6 %
ROE	8.58 %
Face Value	10.0
PEG Ratio	1.63

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Multibase India Ltd

Competitors of Multibase India Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Multibase India Ltd	422 Cr.	334	622/225	28.3	110	15.9 %	11.6 %	8.58 %	10.0
IIRM Holdings India Ltd	797 Cr.	117	172/22.9	35.2	18.7	0.00 %	%	%	5.00
Fiberweb (India) Ltd	150 Cr.	52.3	66.6/29.0	13.0	58.3	0.00 %	5.17 %	4.61 %	10.0
Deep Polymers Ltd	163 Cr.	67.3	120/61.2	22.0	35.5	0.00 %	9.48 %	9.69 %	10.0
DDev Plastiks Industries Ltd	2,910 Cr.	281	458/160	15.4	71.2	0.53 %	41.9 %	31.5 %	1.00
Industry Average	4,368.29 Cr	670.99		59.76	191.24	1.05%	15.72%	13.15%	7.75

All Competitor Stocks of Multibase India Ltd

Quarterly Result

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Sales	14.94	13.81	18.81	18.20	18.98	16.99	18.04	18.08	16.26	15.74	14.65	19.23	18.42
Expenses	13.63	12.81	15.95	16.97	17.72	15.08	12.81	16.16	15.17	13.60	11.48	15.63	14.39
Operating Profit	1.31	1.00	2.86	1.23	1.26	1.91	5.23	1.92	1.09	2.14	3.17	3.60	4.03
OPM %	8.77%	7.24%	15.20%	6.76%	6.64%	11.24%	28.99%	10.62%	6.70%	13.60%	21.64%	18.72%	21.88%
Other Income	0.71	0.76	0.84	0.88	1.18	0.88	1.65	1.67	1.78	1.88	2.45	1.93	2.02
Interest	0.00	0.00	0.06	0.00	0.00	0.00	0.05	0.02	0.00	0.00	0.08	0.00	0.02
Depreciation	0.24	0.24	0.23	0.28	0.27	0.29	0.16	0.31	0.20	0.25	0.26	0.27	0.28
Profit before tax	1.78	1.52	3.41	1.83	2.17	2.50	6.67	3.26	2.67	3.77	5.28	5.26	5.75
Tax %	25.84%	27.63%	27.27%	25.14%	26.73%	25.20%	25.64%	25.46%	24.72%	27.06%	25.38%	25.48%	25.39%
Net Profit	1.32	1.10	2.47	1.37	1.58	1.87	4.96	2.44	2.01	2.76	3.95	3.92	4.29
EPS in Rs	1.05	0.87	1.96	1.09	1.25	1.48	3.93	1.93	1.59	2.19	3.13	3.11	3.40

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	45	55	62	70	86	109	110	60	53	62	72	65	68
Expenses	39	47	51	56	68	80	90	53	47	56	63	56	55
Operating Profit	6	7	10	14	19	29	20	7	7	7	10	8	13
OPM %	14%	13%	17%	20%	22%	26%	18%	11%	13%	11%	13%	13%	19%
Other Income	1	1	1	2	2	2	3	4	4	3	5	8	8
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	7	8	11	15	20	30	22	10	10	9	13	15	20
Tax %	31%	33%	34%	35%	35%	35%	30%	24%	32%	27%	26%	26%
Net Profit	4	5	7	10	13	20	15	8	7	6	10	11	15
EPS in Rs	3.56	4.03	5.72	7.83	10.52	15.49	12.17	5.97	5.32	5.02	7.76	8.84	11.83
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	38%	20%	26%	34%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	25.00%	40.00%	42.86%	30.00%	53.85%	-25.00%	-46.67%	-12.50%	-14.29%	66.67%	10.00%
Change in YoY Net Profit Growth (%)	0.00%	15.00%	2.86%	-12.86%	23.85%	-78.85%	-21.67%	34.17%	-1.79%	80.95%	-56.67%

Multibase India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	2%
5 Years:	-10%
3 Years:	7%
TTM:	-2%

Compounded Profit Growth
10 Years:	8%
5 Years:	-6%
3 Years:	18%
TTM:	32%

Stock Price CAGR
10 Years:	1%
5 Years:	16%
3 Years:	4%
1 Year:	45%

Return on Equity
10 Years:	12%
5 Years:	7%
3 Years:	7%
Last Year:	9%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	13	13	13	13	13	13	13	13	13	13	13	13	13
Reserves	16	21	29	38	52	71	87	94	101	105	113	122	126
Borrowings	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Liabilities	7	7	6	8	12	32	12	10	12	12	11	10	14
Total Liabilities	36	41	47	59	77	116	111	117	126	130	137	144	153
Fixed Assets	5	5	5	8	9	10	10	11	10	11	11	12	12
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	32	36	42	51	68	106	101	106	115	119	126	133	141
Total Assets	36	41	47	59	77	116	111	117	126	130	137	144	153

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	-0	3	7	7	5	25	5	20	10	5	9	5
Cash from Investing Activity +	-2	1	-9	7	4	-30	32	-0	2	1	3	4
Cash from Financing Activity +	-0	-0	0	0	0	0	-10	10	0	-2	-1	-3
Net Cash Flow	-3	3	-1	14	8	-5	26	31	12	3	10	6

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	6.00	7.00	10.00	14.00	19.00	29.00	20.00	7.00	7.00	7.00	10.00	8.00

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

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	76	71	60	67	81	80	61	71	77	64	58	51
Inventory Days	126	105	84	106	128	132	83	106	123	103	61	95
Days Payable	77	52	36	52	66	157	43	72	101	79	55	54
Cash Conversion Cycle	125	124	108	120	144	56	101	106	98	88	64	91
Working Capital Days	134	120	105	103	121	72	131	98	90	78	62	77
ROCE %	25%	24%	29%	33%	35%	40%	24%	10%	9%	8%	11%	12%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
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	1.03%	1.03%	1.03%	1.03%	0.33%	0.33%	0.33%	0.33%	0.33%	0.33%	0.17%	0.17%
Public	23.97%	23.97%	23.97%	23.98%	24.67%	24.68%	24.68%	24.67%	24.68%	24.66%	24.82%	24.83%
No. of Shareholders	8,251	8,458	8,400	8,431	8,391	8,237	8,138	8,578	8,655	8,637	9,137	9,242

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	8.84	7.76	5.02	5.32	5.97
Diluted EPS (Rs.)	8.84	7.76	5.02	5.32	5.97
Cash EPS (Rs.)	9.64	8.55	5.77	6.11	6.73
Book Value[Excl.RevalReserv]/Share (Rs.)	106.63	99.80	93.06	90.05	84.71
Book Value[Incl.RevalReserv]/Share (Rs.)	106.63	99.80	93.06	90.05	84.71
Dividend / Share (Rs.)	3.00	2.00	1.00	2.00	0.00
Revenue From Operations / Share (Rs.)	51.30	57.22	49.51	42.35	47.37
PBDIT / Share (Rs.)	12.76	11.26	7.63	8.58	8.65
PBIT / Share (Rs.)	11.96	10.47	6.88	7.79	7.89
PBT / Share (Rs.)	11.88	10.43	6.84	7.79	7.89
Net Profit / Share (Rs.)	8.84	7.76	5.02	5.32	5.97
PBDIT Margin (%)	24.87	19.68	15.41	20.25	18.26
PBIT Margin (%)	23.31	18.29	13.89	18.39	16.66
PBT Margin (%)	23.16	18.23	13.80	18.39	16.66
Net Profit Margin (%)	17.22	13.55	10.14	12.56	12.61
Return on Networth / Equity (%)	8.28	7.77	5.39	5.90	7.05
Return on Capital Employeed (%)	11.03	10.32	7.29	8.54	9.19
Return On Assets (%)	7.72	7.13	4.88	5.33	6.46
Asset Turnover Ratio (%)	0.45	0.54	0.48	0.44	0.52
Current Ratio (X)	17.24	13.75	11.09	10.81	12.61
Quick Ratio (X)	15.71	12.82	9.91	9.68	11.21
Inventory Turnover Ratio (X)	2.80	2.51	2.16	1.75	1.79
Dividend Payout Ratio (NP) (%)	22.63	12.89	39.81	0.00	0.00
Dividend Payout Ratio (CP) (%)	20.75	11.69	34.64	0.00	0.00
Earning Retention Ratio (%)	77.37	87.11	60.19	0.00	0.00
Cash Earning Retention Ratio (%)	79.25	88.31	65.36	0.00	0.00
Interest Coverage Ratio (X)	160.74	307.62	172.58	0.00	0.00
Interest Coverage Ratio (Post Tax) (X)	112.30	212.87	114.61	0.00	0.00
Enterprise Value (Cr.)	186.74	114.54	148.81	150.18	25.91
EV / Net Operating Revenue (X)	2.88	1.59	2.38	2.81	0.43
EV / EBITDA (X)	11.59	8.06	15.45	13.87	2.37
MarketCap / Net Operating Revenue (X)	4.59	3.03	3.89	4.51	1.76
Retention Ratios (%)	77.36	87.10	60.18	0.00	0.00
Price / BV (X)	2.21	1.74	2.07	2.12	0.98
Price / Net Operating Revenue (X)	4.59	3.03	3.89	4.51	1.76
EarningsYield	0.03	0.04	0.02	0.02	0.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Multibase India Ltd as of January 22, 2025 is: 309.56

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 January 22, 2025, Multibase India Ltd is Overvalued by 7.32% compared to the current share price 334.00

Intrinsic Value of Multibase India Ltd as of January 22, 2025 is: 363.21

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 January 22, 2025, Multibase India Ltd is Undervalued by 8.75% compared to the current share price 334.00

Last 5 Year EPS CAGR: 17.33%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 21.67%, which is a positive sign. The company has higher reserves (75.00 cr) compared to borrowings (0.00 cr), indicating strong financial stability. The company has shown consistent growth in sales (70.54 cr) and profit (14.62 cr) over the years.	The stock has a high average Working Capital Days of 99.25, which may not be favorable. The stock has a high average Cash Conversion Cycle of 102.08, 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 Multibase India Ltd:
1. Net Profit Margin: 17.22%
  - 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: 11.03% (Industry Average ROCE: 15.72%)
  - 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%: 8.28% (Industry Average ROE: 13.15%)
  - 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): 112.3
  - 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: 15.71
  - 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: 28.3 (Industry average Stock P/E: 59.76)
  - 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
  - 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

Multibase India Ltd. is a Public Limited Listed company incorporated on 17/12/1991 and has its registered office in the State of Daman & Diu, India. Company's Corporate Identification Number(CIN) is L01122DD1991PLC002959 and registration number is 002959. Currently Company is involved in the business activities of Manufacture of mixture of synthetic and natural or rubber like gums. Company's Total Operating Revenue is Rs. 64.74 Cr. and Equity Capital is Rs. 12.62 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Plastics - Plastic & Plastic Products	74/5-6, Daman Industrial Estate, Kadaiya Village, Nani-Daman Daman & Diu 396210	compliance.officer@multibaseindia.com http://www.multibaseindia.com

Management
Name	Position Held
Mr. Deepak Dhanak	Managing Director
Mr. Krishan Kumar Phophalia	Non Executive Director
Mr. Mark Stephen Metaxas	Non Executive Director
Ms. Bharti Dhar	Ind. Non-Executive Director
Mr. Piyush Chhajed	Ind. Non-Executive Director
Mr. B Renganathan	Ind. Non-Executive Director

FAQ

What is the latest intrinsic value of Multibase India Ltd?

The latest intrinsic value of Multibase India Ltd as on 21 January 2025 is ₹309.56, which is 7.32% lower than the current market price of ₹334.00. The stock has a market capitalization of 422 Cr. and recorded a high/low of 622/225 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹126 Cr and total liabilities of ₹153 Cr.

What is the Market Cap of Multibase India Ltd?

The Market Cap of Multibase India Ltd is 422 Cr..

What is the current Stock Price of Multibase India Ltd as on 21 January 2025?

The current stock price of Multibase India Ltd as on 21 January 2025 is 334.

What is the High / Low of Multibase India Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Multibase India Ltd stocks is 622/225.

What is the Stock P/E of Multibase India Ltd?

The Stock P/E of Multibase India Ltd is 28.3.

What is the Book Value of Multibase India Ltd?

The Book Value of Multibase India Ltd is 110.

What is the Dividend Yield of Multibase India Ltd?

The Dividend Yield of Multibase India Ltd is 15.9 %.

What is the ROCE of Multibase India Ltd?

The ROCE of Multibase India Ltd is 11.6 %.

What is the ROE of Multibase India Ltd?

The ROE of Multibase India Ltd is 8.58 %.

What is the Face Value of Multibase India Ltd?

The Face Value of Multibase India Ltd is 10.0.