Multi-Arc India Ltd - Stock Valuation and Financial Performance

Name: Multi-Arc India
Brand: Multi-Arc India

BSE: 513685 | NSE: MULTIARC | Engineering | Small Cap

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Multi-Arc India stock performance -

PE Chart Key Ratios

P/E Ratio (SA):

0.00

Market Cap:

5.4 Cr.

52-wk low:

4.8

52-wk high:

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1. Is a good quality company?

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2. Is undervalued or overvalued?

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10 Year X-Ray of Multi-Arc India:

Analysis of Financial Track Record

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

Standalone Basis ^P Consolidated Basis ^P

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'99	Mar'00	Mar'01	Mar'02	Sep'03	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09	TTM
ROCE % ⓘ	3.7%	-5.1%	-0.4%	1.9%	4.8%	3.9%	-2.7%	6.2%	10.1%	-4.7%	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	9.4	11.8	17.7	17.9	27.9	30.3	23.9	19.9	22.5	11.2	7
Sales YoY Gr.	-	25.9%	49.6%	1.1%	56%	8.8%	-21.2%	-16.8%	13.1%	-50.2%	-
Adj EPS ⓘ	0.4	-15.3	-6	-6.3	-5.5	-4.2	-5.1	0.7	2.1	-2.3	-3.4
YoY Gr.	-	-3740.5%	NA	NA	NA	NA	NA	NA	185.1%	-207.6%	-
BVPS (₹) ⓘ	42.9	17.7	5.6	18	8.8	13	23.6	24.4	30.3	30.1	27.3
Adj Net Profit ⓘ	0.1	-5.2	-3	-3.2	-2.8	-2.1	-4.2	0.6	2.3	-2.5	-4
Cash Flow from Ops. ⓘ	3.7	-2.8	-3.3	8.9	2.6	1.3	6.7	-7.9	6.4	-8.7	-
Debt/CF from Ops. ⓘ	7.2	-10.9	-9.3	4	9.2	20.3	2.2	-2.1	1.3	-1.1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	2%	-16.7%	-22.3%	-50.2%
Adj EPS ⓘ	-220.6%	NA	NA	-207.6%
BVPSⓘ	-3.9%	28%	8.4%	-0.7%
Share Price	-	-	-	-

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'99	Mar'00	Mar'01	Mar'02	Sep'03	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09	TTM
Return on Equity % ⓘ	0.9	-36.6	-25.3	-28.9	-52.1	-38.1	-28.7	3.1	8.8	-7.5	-11.9
Op. Profit Mgn % ⓘ	31.5	12	19.8	33.6	28.9	26.6	23.2	29.6	32.1	-11.8	-34
Net Profit Mgn % ⓘ	1.5	-44	-17.1	-17.7	-10	-6.9	-17.5	3	10.4	-22.5	-51.8
Debt to Equity ⓘ	1.8	5.2	10.8	3.9	5.4	3.9	0.8	0.8	0.2	0.3	-
Working Cap Days ⓘ	489	389	270	287	144	190	350	389	407	883	0
Cash Conv. Cycle ⓘ	365	188	39	33	7	17	56	40	10	133	0

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to %

Sales growth has been subdued in last 3 years %

Sales growth is not so good in last 4 quarters at %

Latest Financials - Multi-Arc India Ltd.

	Standalone	Consolidated
TTM EPS (₹)	-3.4	-4
TTM Sales (₹ Cr.)	7.3	14.4
BVPS (₹.) ⓘ	27.3	18.5
Reserves (₹ Cr.) ⓘ	19	18
P/BV ⓘ	0.18	0.26
PE ⓘ	0.00	0.00

From the Market
52 Week Low / High (₹)	4.80 / 6.00
All Time Low / High (₹)	2.95 / 160.00
Market Cap (₹ Cr.)	5.4
Equity (₹ Cr.)	11.1
Face Value (₹)	10
Industry PE ⓘ	36.8

Management X-Ray of Multi-Arc India:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

25.12

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

Valuation of Multi-Arc India

Analyst's Notes

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Key Ratios of Multi-Arc India

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'99	Mar'00	Mar'01	Mar'02	Sep'03	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09
Sales	9.38	11.81	17.67	17.87	41.81	45.47	23.88	19.88	22.49	11.21
Operating Expenses ⓘ	6.43	10.40	14.20	11.87	29.78	33.44	18.37	14.01	15.37	12.54
Manufacturing Costs	1.46	1.64	2.73	3.34	7.88	10.23	4.93	1.98	1.91	1.68
Material Costs	1.19	2.25	3.88	3.46	10.65	9.77	5.78	7.49	8.86	6.50
Employee Cost	1.45	2.36	2.70	2.77	6.77	7.90	4.56	2.83	2.52	2.96
Other Costs ⓘ	2.34	4.16	4.89	2.31	4.49	5.54	3.09	1.70	2.08	1.40
Operating Profit ⓘ	2.95	1.42	3.47	6	12.02	12.02	5.51	5.87	7.13	-1.32
Operating Profit Margin (%)	31.5%	12.0%	19.6%	33.6%	28.8%	26.4%	23.1%	29.5%	31.7%	-11.8%
Other Income ⓘ	0.45	0.36	0.09	0.21	0.21	0.28	0.06	0.04	0.70	0.57
Interest ⓘ	1.74	4.31	4.06	5.68	8.93	7.04	4.40	2.24	2.25	0.77
Depreciation ⓘ	1.50	2.53	2.54	3.69	7.50	8.45	4.84	3	3.02	1.96
Exceptional Items ⓘ	0	0	0	0	0	0	-1.40	0	0	3.28
Profit Before Tax ⓘ	0.16	-5.06	-3.04	-3.17	-4.20	-3.18	-5.07	0.67	2.56	-0.20
Tax ⓘ	0.02	0	0	0	0	0	0.10	0.08	0.28	0.03
Profit After Tax	0.14	-5.06	-3.04	-3.17	-4.20	-3.18	-5.17	0.59	2.28	-0.23
PAT Margin (%)	1.5%	-42.8%	-17.2%	-17.7%	-10.0%	-7.0%	-21.6%	3.0%	10.1%	-2.0%
Adjusted EPS (₹)	0.2	-14.9	-6.0	-6.3	-8.3	-6.3	-6.4	0.7	2.1	-0.2
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'99	Mar'00	Mar'01	Mar'02	Sep'03	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09
Equity and Liabilities
Shareholders Fund	16.97	11.41	12.51	9.34	6.64	9.87	19.20	19.79	33.66	33.43
Share Capital ⓘ	3.90	3.40	5.06	5.06	5.06	5.06	8.13	8.13	11.11	11.11
Reserves ⓘ	13.07	8.01	7.45	4.29	1.58	4.81	11.07	11.66	22.54	22.32
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	26.90	30.96	30.64	35.36	36.03	38.42	14.92	16.20	8.11	9.15
Long Term Debt	26.90	30.96	30.64	35.36	36.03	38.42	14.92	16.20	8.11	9.15
Short Term Debt	0	0	0	0	0	0	0	0	0	0
Trade Payables	0.30	4.79	6.30	7.11	10.50	11.92	5.45	9.37	5.61	4.04
Others Liabilities ⓘ	0.31	0	0	0	0	0	0.03	0.17	0.44	0.53
Total Liabilities ⓘ	44.48	47.16	49.46	51.81	53.16	60.20	39.60	45.54	47.82	47.16
Fixed Assets
Gross Block	37.25	36.56	36.87	50.60	57.69	61.22	34.84	36.82	36.07	29.68
Accumulated Depreciation	7.67	9.99	12.46	16.48	23.95	32.38	14.97	17.73	20.60	20.65
Net Fixed Assetsⓘ	29.58	26.57	24.41	34.11	33.74	28.84	19.88	19.08	15.46	9.03
CWIP ⓘ	0.44	1.82	1.57	1.87	0	1.42	1.97	0.14	0.23	0.23
Investmentsⓘ	0.11	0.10	0.11	0.11	0.11	0.12	0.20	0.20	7.55	7.55
Inventories	3.12	1.65	1.24	1.32	1.79	2.90	2.42	1.49	1.72	2.63
Trade Receivables	6.01	7.45	8.69	9	11.44	14.75	6.95	11.83	5.36	6.30
Cash Equivalents	0.31	0.26	0.62	0.51	1.30	0.54	1.03	0.26	0.27	0.39
Others Assetsⓘ	4.90	9.31	12.82	4.89	4.78	11.62	7.15	12.54	17.22	21.03
Total Assets ⓘ	44.48	47.16	49.46	51.81	53.16	60.20	39.60	45.54	47.82	47.16

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'99	Mar'00	Mar'01	Mar'02	Sep'03	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09
Cash Flow From Operating Activity ⓘ	3.74	-2.84	-3.30	8.87	3.94	1.89	6.71	-7.88	6.43	-8.68
PBT ⓘ	3.12	-5.06	-3.04	-3.17	-4.20	-3.18	-3.67	0.67	2.28	-0.23
Adjustment ⓘ	1.50	6.97	7.53	9.53	17.17	11.80	10.66	5.26	5.35	-0.55
Changes in Working Capital ⓘ	0.92	3.49	1.64	-1.01	0	0	4.07	-11.75	1.27	-6.94
Tax Paid ⓘ	-0.24	-0.08	-0.20	-0.08	-0.10	0.31	0.04	0.18	-0.22	-0.19
Cash Flow From Investing Activity ⓘ	-14.54	-0.69	-0.17	-13.71	-5.30	-5.04	0.69	5.82	-9.92	7.76
Capex	-14.09	0.68	-0.42	-13.40	-7.18	-3.60	1.31	-2.23	0.52	7.76
Net Investments	-0.01	0	-0.01	0	0	-0.02	-0.08	0	-7.35	0
Others ⓘ	-0.44	-1.38	0.26	-0.31	1.87	-1.42	-0.54	8.05	-3.08	0
Cash Flow From Financing Activityⓘ	10.86	3.48	3.83	4.72	2.16	2.39	-6.90	1.28	3.50	1.04
Net Proceeds from Shares ⓘ	0	-0.50	4.15	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	4.06	-0.32	4.72	0.67	2.39	0	0	0	1.04
Interest Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Dividend Paid ⓘ	-1.23	-0.08	0	0	0	0	0	0	0	0
Others ⓘ	12.09	0	0	0	1.49	0	-6.90	1.28	3.50	0
Net Cash Flow ⓘ	0.06	-0.05	0.37	-0.12	0.79	-0.76	0.49	-0.77	0.01	0.11

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'99	Mar'00	Mar'01	Mar'02	Sep'03	Mar'05	Mar'06	Mar'07	Mar'08	Mar'09
Ratios
ROE (%)	0.96	-49.1	-68.67	-52.91	-53.33	-38.54	-35.55	3.02	8.52	-0.68
ROCE (%)	5.41	-1.9	2.9	6.45	10.87	8.48	-1.62	8.28	12.36	1.36
Asset Turnover Ratio	0.25	0.26	0.37	0.35	0.8	0.8	0.48	0.47	0.48	0.24
PAT to CFO Conversion(x)	26.71	N/A	N/A	N/A	N/A	N/A	N/A	-13.36	2.82	N/A
Working Capital Days
Receivable Days	248	208	167	181	89	105	166	172	139	190
Inventory Days	137	74	30	26	14	19	41	36	26	71
Payable Days	93	414	522	708	302	419	548	361	309	271

Multi-Arc India Ltd Stock News

Multi-Arc India Ltd FAQs

What is the share price of Multi-Arc India?

Company share prices are keep on changing according to the market conditions. The closing price of Multi-Arc India on 01-Jan-1970 05:30 is ₹0.00.

What is the market cap of Multi-Arc India?

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 01-Jan-1970 05:30 the market cap of Multi-Arc India stood at ₹5.42.

What is the P/E ratio of Multi-Arc India?

The latest P/E ratio of Multi-Arc India as of 01-Jan-1970 05:30 is 0.00.

What is the P/B ratio of Multi-Arc India?

The latest P/B ratio of Multi-Arc India as of 01-Jan-1970 05:30 is 0.18.

What is the 52-week high and low of Multi-Arc India?

The 52-week high of Multi-Arc India is ₹6.00 and the 52-week low is ₹4.80.

What is the TTM revenue of Multi-Arc India?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Multi-Arc India is ₹7.34 ( Cr.) .

About Multi-Arc India Ltd

Established in 1983, Multi-Arc India (MAIL) is in the business of surface medication. Over the course of past 20 years, as technological leader of the industry in India, MAIL has developed and marketed various surface enhancement/modification technologies which have found extensive use in decorative applications and wear resistance.

Multi-Arc is a nationwide supplier of thin film coating services and equipment with operations in Umargam and Housur. The company is in the business of modifying surfaces to give decorative aesthetic appearance.

MAIL has been able to successfully develop various market segments. The market segments in decorative business include watch straps and cases, jewellery, cutlery, bathroom fittings, luggage accessories, hardware items, etc.

MAIL also has in house R&D and equipment manufacturing capabilities. MAIL is also planning to enter into coating related industries through strategic alliances.In 2006 MAIL has acquired Sonic Ltd. (I.P. Coating services provider and closest competitors) and M/s. Sotex (Horological Parts manufacturers.)MAIL has a Joint Venture with Universal Chemical Technologies Inc. (UCT) for commercial application of a revolutionary technology developed by UCT.

Multi-Arc India is a public limited company, listed on the Bombay Stock Exchange (BSE Code: 513685). The company's registered corporate headquarter is located in Mumbai and two manufacturing/servicing facilities strategically located at Umargam and Housur. The company came with preferential issue of Rs 19 crore in 2006 at a premium of Rs 62 to and a preferential issue of Rs 7 crore in 2007 at a premium of Rs 29 to augment working capital.

Subsidiaries of the company :

Multi-Arc Coating and Straps Ltd, India, UCT Coatings Pvt.Ltd, India

Clientele:The companyâ€™s clientage is spread all over India and some of these are:

TIMEX
TITAN
MAXIMA
HMT
SAMAY, etc.

Products range of the company includes:

Decorative : Ion plated coatings are possible on stainless steel, spring steel and tother tool steels besides on brass, mild steel, ABS plastic and Zinc Alloys (Mazak) which is possible after providing a suitable under layer.

Wear component & Medical: PVD coating application in the medical industry can be subdivided into 4 major markets :-Orthopaedic Implants -Surgical and Medical instruments -Orthodontic appliances -Cardiovascular implants

Achievements/ recognition :

Multi-Arc has been certified to ISO 9001: 2000 standards.
Multi-Arc India Limited is a public limited company, listed on the Bombay Stock Exchange.
It is recognized by the Department of Science and Technology Govt. Of India.
MAIL achieved a net profit for the year 2006-07 after a gap of 9 years
Takeover of Bharuch Unit from SONIC / SOTEX.
Largest watch strap manufacturer in India.
Set up new coating canter facility at Hosur to cater to Titan requirements.
Set up joint venture company UCT INDIA LTD in India with technical collaboration of UCT Inc, USA.

Future plan: Plans to set up coating canter facility at Parwanoo to cater to the northern region.