Marsons Ltd - Stock Valuation and Financial Performance

BSE: 517467 | NSE: | Electric Equipment | Small Cap

Marsons Share Price

34.11 0.66 1.97%
as on 19-Mar'24 11:11

DeciZen - make an informed investing decision on Marsons

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Undervalued

3. Price Trend

Marsons stock performance -

mw4me loader
P/E Ratio (SA):
128.76
Market Cap:
468.3 Cr.
52-wk low:
5
52-wk high:
33.5

Is Marsons Ltd an attractive stock to invest in?

1. Is Marsons Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Marsons Ltd is a below average quality company.

2. Is Marsons Ltd undervalued or overvalued?

The key valuation ratios of Marsons Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

3. Is Marsons Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Marsons Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Marsons:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Marsons Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Jun'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 5.4%4.5%7.9%-2.4%-83.4%-79.6%-14.1%-8.9%-5.5%5.5%-
Value Creation
Index
-0.6-0.7-0.4-1.2NANA-2.0-1.6NA-0.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 72.957.713710016.70.400.31.64.65
Sales YoY Gr.--20.8%138.1%-27.3%-83.3%-97.9%-100%NA381.8%186.8%-
Adj EPS 0.1-1.52.1-3.9-23.5-8.6-0.2-0.2-0.1-0.10.3
YoY Gr.--1276.9%NA-280.4%NANANANANANA-
BVPS (₹) 19.410.119.10.4-25.5-34.10.30.1-00.21
Adj Net
Profit
0.3-3.85.4-9.7-58.8-21.6-2.9-2.2-1.3-1.14
Cash Flow from Ops. -3.2-2.436.24.2-6.60.9-13.4-0.50.30.1-
Debt/CF from Ops. -20.7-22.32.618-13.199-1.7-46.265.7147.3-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -26.5%-22.9%NA186.8%
Adj EPS -196%NANANA
BVPS-38.6%NA-3.9%NA
Share Price 20.6% 102.6% 41.1% 480.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Jun'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0.5-9.58.1-27.8394.337.18.8-96.6-272-80.742.6
Op. Profit
Mgn %
15.411122.7-283.2-6339.30-174.7-6.522.741.6
Net Profit
Mgn %
0.4-6.63.9-9.7-351.9-6219.10-676.7-80.7-24.569.3
Debt to
Equity
1.42.1277-1.4-16.619.2-91.24.8-
Working Cap
Days
9036224624531,56734,20908,0781,678695234
Cash Conv.
Cycle
1952862292201,26225,36607,8291,536559141

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 42.60%

Sales growth is good in last 4 quarters at 708.08%

Sales growth has been subdued in last 3 years 0.00%

Latest Financials - Marsons Ltd.

Standalone Consolidated
TTM EPS (₹) 0.3 -1.5
TTM Sales (₹ Cr.) 5.3 0.4
BVPS (₹.) 1 0
Reserves (₹ Cr.) - -101
P/BV 34.01 0.00
PE 128.76 0.00
From the Market
52 Week Low / High (₹) 4.95 / 33.45
All Time Low / High (₹) 0.03 / 66.52
Market Cap (₹ Cr.) 468
Equity (₹ Cr.) 14
Face Value (₹) 1
Industry PE 77.1

Management X-Ray of Marsons:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Marsons

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Jun'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales55721031001700025
Operating Expenses 4664919873221124
Manufacturing Costs12303100111
Material Costs405256916010002
Employee Cost 1111110000
Other Costs 494310210001
Operating Profit 88122-56-22-1-101
Operating Profit Margin (%) 15.4%11.0%11.9%2.2%-334.0%-6,339.3%--174.0%-6.5%22.7%
Other Income 1521120006
Interest 714810500003
Depreciation 1432532211
Exceptional Items 0000000000
Profit Before Tax 1-53-8-65-23-3-2-13
Tax 10-120-20000
Profit After Tax 0-54-10-65-22-3-2-13
PAT Margin (%) 0.4%-6.6%4.0%-9.9%-387.0%-6,219.1%--676.0%-81.1%71.6%
Adjusted EPS (₹)0.1-1.91.7-4.0-25.9-8.6-0.2-0.2-0.10.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Jun'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 53485217-47-693103
Share Capital 25252525252513131313
Reserves 282327-8-72-94-9-11-13-9
Minority Interest0000000000
Debt47677176868422232315
Long Term Debt5414444424122232315
Short Term Debt4327273244440000
Trade Payables7623823231170011
Others Liabilities 12222012660004
Total Liabilities 187160226137763826252323

Fixed Assets

Gross Block45575757575757575755
Accumulated Depreciation20242728333638404142
Net Fixed Assets25333029242119171613
CWIP 1000000000
Investments 10103712300000
Inventories58434850000000
Trade Receivables82631053942107779
Cash Equivalents 3211100000
Others Assets6946670000
Total Assets 187160226137763826252323

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Jun'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -2-3274-71-13000
PBT 1-53-8-65-22-3-2-13
Adjustment 716911174221-5
Changes in Working Capital -10-141514118-13002
Tax Paid 0000000000
Cash Flow From Investing Activity 0-6-25-1103008
Capex 0-63-1002008
Net Investments 01-280100000
Others 0000001000
Cash Flow From Financing Activity 28-3-45-21000-8
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 103630-2-1-1800-8
Interest Paid -6-12-7-9-500000
Dividend Paid 0000000000
Others -2-160512-129000
Net Cash Flow 0-1-100-10000
PARTICULARSMar'14Jun'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)0.65-14.0112.32-54.1N/AN/A0-96.56-273.44235.88
ROCE (%)9.939.6610.792.13N/AN/A-24.07-8.89-5.5532.19
Asset Turnover Ratio0.320.440.560.560.160.0100.010.070.2
PAT to CFO Conversion(x)-INFN/A6.75N/AN/AN/AN/AN/AN/A0
Working Capital Days
Receivable Days494347286260885007,8681,608655
Inventory Days3662401541755480001410
Payable Days733346342229190000725231

Marsons Ltd Stock News

Marsons Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Marsons on 19-Mar-2024 11:11 is ₹34.11.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 19-Mar-2024 11:11 the market cap of Marsons stood at ₹468.3.
The latest P/E ratio of Marsons as of 19-Mar-2024 11:11 is 128.8.
The latest P/B ratio of Marsons as of 19-Mar-2024 11:11 is 34.01.
The 52-week high of Marsons is ₹33.45 and the 52-week low is ₹4.95.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Marsons is ₹5.25 ( Cr.) .

About Marsons Ltd

Established as a private limited company in 1976, Marson’S, is into the business of power generation, EPC contracts, logistics and construction. The company has supplied more than 150,000 transformers across India during the last five decades. Marsons’ foundation has been established by powerful and pragmatic principles backed by hard-core commitment for excellence.

The company, incorporated under the name Marsons Electricals, acquired the proprietorship concern Marsons in 1977. Marsons was into the manufacturing of transformers of different classes and ratings since 1957.

It was converted into a public limited company in July 1981. The company got its present name in December 1990. The company got de-listed from the Delhi Stock Exchange (DSE) with effect from December 11, 2004.

Marsons manufactures power and distribution transformers ranging from 10 KVA to 100 MVA 132 KV class, furnace transformers, dry type transformers and various types of special application transformers. The company’s transformers of various rating have been successfully type-tested at CPRI in Bhopal and Bangalore.

In 1994, the company came out with a public issue to part finance the expansion of its facilities to manufacture power transformers up to 66 kV and 132 kV class, upto 20 MVA rating.

Marson’S constantly updates its products with the latest development and innovations in the industry. The company’s plant is located in Kolkata, spread over an area of 35,000 square feet with a built-up area of approximately 18,000 square meter. The plant is fully equipped to manufacture power transformers of up to 100 MVA 132 KV class. It recently upgraded the facilities to manufacture EHV power transformers up to 160 MVA 220 KV Class.

Marsons is among the first to set up Impulse Testing Laboratory and Autoclave (Vacuum Heating System) way back in 1995-96. The laboratory is equipped with 1600KV 80 KJ impulse generator imported from Haefely Trench of Switzerland. Its laboratory is also fully equipped to perform all required routine tests and temperature rise test for various ratings of power transformers up to the range of 160 MVA 220 KV class.

The testing departments with its hi-end equipment play a decisive role in the implementation of quality. It has two laboratories, both equipped with modern machineries and precision instruments; tests are conducted separately with one laboratory being alloted for high/ medium voltage transformers and the other one for medium/ low voltage transformers. 

Product Range:

a) Power Transformers up to 160 MVA 220 KV class -

  • Generator Transformers
  • Unit Auxiliary Transformers
  • Station Auxiliary Transformers
  • Power Transformers
  • Auto Transformers

b) Distribution Transformers -

  • 10 KVA, 11 KV/0.433 KVA
  • Single Phase 5 KVA to 40 KVA
  • Dry Type Transformers up to 2 MVA 33 KV class

c) Furnace Transformers up to 50 MVA -

  • Arc Furnace Transformers
  • Submerged ARC Furnace Transformers
  • Ladle Furnace Transformers
  • Induction Furnace Transformers
  • DC Arc Furnace Transformers

d) Instruments Transformers -

  • Current Transformers up to 132 KV class
  • Potential Transformers

e) Unitized Substation up to 2 MVA 33/11 KV class.

Clientele:

  • The company’s valued clientele includes some of the best-known names in power, infrastructure and other critical industries. Customers range from urban utility services and power plants to defence, railways, and other industries.
  • State Electricity Boards and Power Utilities -- Rajasthan, West Bengal, Assam, Madhya Pradesh, Andhra Pradesh, Maharashtra, Jharkhand, Chhattishgarh, Bihar, Orissa, Government of Manipur, Meghalaya, Uttar Pradesh, Uttaranchal, Tamilnadu and Kerala.
  • Corporate Customers -- ABB, Areva T & D, CESC, DPL, North Eastern Cable & Conductors, Techno Electric & Engg, Siemens, BHEL, Crompton, L&T , Tata Group of Companies, Reliance Group, Prakash Industries, Bharti Airtel, Bhushan Steel, Megatherm.
  • Overseas Customers -- UK-based Castle Cement, Ethiopia’s Yesu PLC, Dubai’s Teklec, UK’s Bowers Electricals and Jordan’s Alarabia Co.

Subsidiary

Advance Power Technologies -- The subsidiary company is engaged in the same line of business as Marson’S with more thrust on manufacturing of small capacities electric transformers.

Achievements:

Marson’S is an ISO 9001:2000 certified company.

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