Modison Ltd - Stock Valuation and Financial Performance

BSE: 506261 | NSE: MODISONLTD | Electric Equipment | Small Cap

Modison Share Price

118 1.70 1.46%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Modison

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

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Modison stock performance -

mw4me loader
P/E Ratio (SA):
16.65
Market Cap:
380.5 Cr.
52-wk low:
50.1
52-wk high:
158

Is Modison Ltd an attractive stock to invest in?

1. Is Modison Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Modison Ltd is a average quality company.

2. Is Modison Ltd undervalued or overvalued?

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

3. Is Modison Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Modison 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 Modison:

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.
Modison Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 11.5%6.1%10.3%13%11.1%11%10.5%15%9.7%7%-
Value Creation
Index
-0.2-0.6-0.3-0.1-0.2-0.2-0.30.1-0.3-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 184171168191201220219292340335378
Sales YoY Gr.--6.6%-1.9%13.4%5.5%9.5%-0.5%33.2%16.2%-1.4%-
Adj EPS 3.51.53.24.54.24.54.97.65.13.87
YoY Gr.--56.2%110.5%40.6%-6.2%7.6%7.9%54.7%-33.3%-25.5%-
BVPS (₹) 29.429.93235.23942.345.250.654.157.561.2
Adj Net
Profit
11.34.910.414.613.714.715.924.616.412.323
Cash Flow from Ops. 2.612.726.412.518.63.819.323.814.422.5-
Debt/CF from Ops. 102.10.81.50.75.61.30.51.20.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 6.9%10.7%15.1%-1.4%
Adj EPS 0.9%-2.2%-8.4%-25.5%
BVPS7.7%8.1%8.4%6.4%
Share Price 14.7% 21.2% 37.5% 129.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
12.25.110.313.411.311.111.215.89.76.811.9
Op. Profit
Mgn %
13.91015.516.513.513.512.413.797.38.9
Net Profit
Mgn %
6.12.96.27.76.86.77.38.44.83.76.1
Debt to
Equity
0.30.30.20.20.10.20.20.10.10-
Working Cap
Days
16016816614916818120316314515072
Cash Conv.
Cycle
12314213312214215316813312313053

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 11.90%

Sales growth is growing at healthy rate in last 3 years 15.14%

Sales growth is good in last 4 quarters at 10.95%

Net Profit has been subdued in last 3 years -8.37%

Latest Financials - Modison Ltd.

Standalone Consolidated
TTM EPS (₹) 7 7.1
TTM Sales (₹ Cr.) 378 378
BVPS (₹.) 61.2 61.3
Reserves (₹ Cr.) 195 196
P/BV 1.91 1.91
PE 16.65 16.64
From the Market
52 Week Low / High (₹) 50.11 / 158.00
All Time Low / High (₹) 0.42 / 158.00
Market Cap (₹ Cr.) 380
Equity (₹ Cr.) 3.3
Face Value (₹) 1
Industry PE 84.1

Management X-Ray of Modison:

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

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales184171168191201220219292340335
Operating Expenses 158155142159174191192252309310
Manufacturing Costs11131415161617161819
Material Costs131126111127139153152211266263
Employee Cost 9101112131416171920
Other Costs 7666677877
Operating Profit 25172631273027403025
Operating Profit Margin (%) 13.9%9.7%15.5%16.5%13.5%13.4%12.4%13.7%9.0%7.3%
Other Income 2011213221
Interest 3443222222
Depreciation 6766666676
Exceptional Items 100033-3-4-4-3
Profit Before Tax 1871722242419302015
Tax 6268784754
Profit After Tax 1251114161715221511
PAT Margin (%) 6.6%2.7%6.5%7.5%8.2%7.6%6.9%7.7%4.3%3.3%
Adjusted EPS (₹)3.81.43.44.45.15.14.76.94.53.4
Dividend Payout Ratio (%)33%53%30%23%30%29%21%22%22%29%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 9697104114127138147165176187
Share Capital 3333333333
Reserves 9394101111124134144161173184
Minority Interest0000000000
Debt2326211813212512175
Long Term Debt1000100000
Short Term Debt2226211812202512175
Trade Payables3454645679
Others Liabilities 25201516171714211420
Total Liabilities 147147145152162180191203214222

Fixed Assets

Gross Block1061081186470758090103107
Accumulated Depreciation4651576121824303642
Net Fixed Assets60576158585656606765
CWIP 12111133310
Investments 0002224222
Inventories44454042476561606579
Trade Receivables33312939424245605853
Cash Equivalents 2222223041
Others Assets811128101220171512
Total Assets 147147145152162180191203214222

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 313261219419241422
PBT 1871722242419302015
Adjustment 9109878910811
Changes in Working Capital -19-16-10-6-21-2-9-70
Tax Paid -6-3-5-8-6-8-6-7-7-5
Cash Flow From Investing Activity -6-6-11-3-8-4-15-4-11-12
Capex -6-6-10-3-8-4-14-5-11-12
Net Investments 00-2-100-1100
Others 0000000000
Cash Flow From Financing Activity -4-6-15-9-100-3-211-14
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -3-2-10000000
Interest Paid -2-3-3-2-1-2-2-2-2-1
Dividend Paid -4-4-7-4-4-6-6-5-30
Others 53-5-3-585-146-12
Net Cash Flow -70000-11-14-4
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)13.284.7810.8313.0813.6312.6510.6514.448.616.17
ROCE (%)18.518.4316.7119.5118.817.9812.7218.3711.98.91
Asset Turnover Ratio1.31.261.261.41.311.291.181.491.631.54
PAT to CFO Conversion(x)0.252.62.360.861.190.241.271.090.932
Working Capital Days
Receivable Days48625960727073666360
Inventory Days828785727993104756778
Payable Days81014121212119911

Modison Ltd Stock News

Modison Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Modison on 28-Mar-2024 16:01 is ₹118.0.
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 28-Mar-2024 16:01 the market cap of Modison stood at ₹380.5.
The latest P/E ratio of Modison as of 28-Mar-2024 16:01 is 16.65.
The latest P/B ratio of Modison as of 28-Mar-2024 16:01 is 1.91.
The 52-week high of Modison is ₹158.0 and the 52-week low is ₹50.11.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Modison is ₹378.4 ( Cr.) .

About Modison Ltd

Modison Metals Ltd was founded in 1965 by Girdharilal Madanlal Modi, Rajkumar Mohanlal Modi and Sureshchandra Purshottamdas Modi.

The company is an established manufacturer of electrical contacts made of silver and silver alloys for low, medium and high voltage switchgear industry. It makes contacts like pure silver, silver copper, silver cadmium, silver cadmium oxide (by powder metallurgy and internal oxidation), silver nickel, silver graphite, silver tungsten, silver tungsten carbide etc. These contacts are manufactured in various forms and sizes as per customer s drawings and specifications.

Situated at Vapi in Gujarat, Modison Metals offers total solution for complete range of contact parts both for arcing and main current carrying contacts; for medium and high tension switchgears. Right from silver refining to producing all the semis like oxygen free copper, CuCr / Cu CrZr, Ag Alloys, extruded sections and profiles are carried out in house.

In addition, Modison Metals also has state-of-the-art Electron Beam Welding machines, VIM furnaces, CNC machining centres and Ag platting plant all under one roof, is an added competitive edge.

Modison has dedicated in house R&D for development of leading switchgear manufacturers all over the world.

Product range of the company includes:

LV Contacts

  • Silver Cadmium Oxide Contacts
  • Modurit 10ZH / 15ZH
  • Silver Graphite AgC 2-5
  • Silver Tungsten & Silver Tungsten Carbide Contacts
  • Button Contacts - Steel Back
  • Copper Tungsten
  • Precision Stamped Parts with AgNi Wire Welded and Formed Contacts
  • Stamped Parts of Silver Inlay, Overlay, Through Lay 
  • Brazed Contact 

Semis for LV / MV 

  • Silver Inlay / Overlay / Through Lay in Copper / Silver bearing Copper / Silver Bronze
  • Silver Bronze – Strips / Plates
  • Silver Bearing Copper
  • Oxygen Free Copper

Silver Targets : 4N for CD - R

  • HV Contact Parts for MV, HV, EHV (SF6) Circuit Breakers 

Articles Of Silver  

  • Sterling Silver Flatware  

Achievements/ recognition:

  • The company has been certified ISO 9001 - 2000 from   DNV.   

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