Madras Aluminium Company Ltd - Stock Valuation and Financial Performance

BSE: 504580 | NSE: MALCO | Aluminium & Aluminium Products | Small Cap

BSE Share Price
Not Listed

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Madras Aluminium Company stock performance -

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P/E Ratio (SA):
11.91
Market Cap:
1,302.9 Cr.
52-wk low:
115.1
52-wk high:
116.5

Is an attractive stock to invest in?

1. Is a good quality company?

Data is not available for this company.

2. Is undervalued or overvalued?

No data found

3. Is a good buy now?

No data found

10 Year X-Ray of Madras Aluminium:

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.

Value Creation

Value Creation Index Colour Code Guide

Jun'04Jun'05Jun'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13TTM
ROCE % 12.7%18.2%38.1%46.6%23.2%15.6%35.2%31.9%6%15.4%-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 303369453537474492469434306505505
Sales YoY Gr.-21.6%22.7%18.7%-11.7%3.7%-4.6%-7.5%-29.5%65%-
Adj EPS 3.83.88.216.47.75.313.616.73.39.69.7
YoY Gr.--0.3%114.1%100.1%-53.3%-30.6%155.8%22.6%-80.1%187.4%-
BVPS (₹) 11.113.619.238.932.934.845.558.759.864.234.9
Adj Net
Profit
43.243.192.318586.359.915318837.5108109
Cash Flow from Ops. 99.350.713620594.510410083.324.768.2-
Debt/CF from Ops. 1.320.20.10.200000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 5.8%1.3%2.5%65%
Adj EPS 10.7%4.5%-11.1%187.4%
BVPS21.5%14.3%12.2%7.5%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Jun'04Jun'05Jun'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13TTM
Return on
Equity %
36.429.948.850.124.415.633.631.85.615.419.6
Op. Profit
Mgn %
25.722.434.238.62012.842.427.4926.412.5
Net Profit
Mgn %
14.211.720.434.418.212.232.643.312.221.321.6
Debt to
Equity
1.10.70.10.10.100000-
Working Cap
Days
2127788115115103891552191640
Cash Conv.
Cycle
-23-25-26-48-31-50-88-2631710

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 %

Net Profit has been subdued in last 3 years %

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

Latest Financials - Madras Aluminium Company Ltd.

Standalone Consolidated
TTM EPS (₹) 9.7 -
TTM Sales (₹ Cr.) 505 -
BVPS (₹.) 34.9 -
Reserves (₹ Cr.) 369 -
P/BV 3.32 -
PE 11.91 -
From the Market
52 Week Low / High (₹) 115.10 / 116.50
All Time Low / High (₹) 1.50 / 224.80
Market Cap (₹ Cr.) 1,303
Equity (₹ Cr.) 22.5
Face Value (₹) 2
Industry PE 18.1

Management X-Ray of Madras Aluminium:

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 Madras Aluminium

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSJun'04Jun'05Jun'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13
Sales303.31368.81452.57402.96474.42492.08469.38434306.13505.15
Operating Expenses 226.09287.77298.25247.93384.47432.10270.61315.11278.78375.18
Manufacturing Costs32.7237.2640.6630.0438.9927.2516.1515.8227.5844.96
Material Costs159.53216.33218.62185.99296.64352216.15267.21235.21308.03
Employee Cost 19.3419.6922.4620.3428.6830.8511.758.1710.5012.37
Other Costs 14.5114.4916.5111.5620.1622.0126.5623.915.499.82
Operating Profit 77.2281.04154.32155.0289.9559.98198.77118.8927.34129.97
Operating Profit Margin (%) 25.5%22.0%34.1%38.5%19.0%12.2%42.3%27.4%8.9%25.7%
Other Income 6.745.515.4120.5033.9232.0428.8731.0456.3831.75
Interest 11.136.235.371.210.783.2612.260.994.030.21
Depreciation 19.4820.5020.6315.6921.9522.852930.2728.3028.38
Exceptional Items -80-13-5.46-25.87-18.45-9.26000
Profit Before Tax 45.3559.82120.73153.1675.2647.46177.12118.6751.40133.14
Tax 8.1317.6237.6017.819.981.5930.57-68.906.8023.78
Profit After Tax 37.2242.2083.14135.3665.2845.86146.55187.5644.60109.36
PAT Margin (%) 12.3%11.4%18.4%33.6%13.8%9.3%31.2%43.2%14.6%21.6%
Adjusted EPS (₹)3.33.87.412.05.84.113.016.74.09.7
Dividend Payout Ratio (%)33%29%22%15%31%44%15%18%63%46%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSJun'04Jun'05Jun'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13

Equity and Liabilities

Shareholders Fund 129.98157.92220.40332.57374.05396.12516.34664.59676726.23
Share Capital 22.5022.5022.5022.5022.5022.5022.5022.5022.4922.49
Reserves 107.48135.42197.90310.07351.55373.62493.84642.09653.51703.74
Minority Interest0000000000
Debt132.06103.1523.0421.8021.774.471.050.320.700
Long Term Debt132.06103.1523.0421.8021.774.471.050.3200
Short Term Debt000000000.700
Trade Payables59.0169.9284.3783.75130.79140.7983.6080.5318.8422.52
Others Liabilities 96.02111.04155.35156.62196.61152.40156.71201.63111.99289.30
Total Liabilities 417.06442.02483.15594.74723.21693.78757.70947.07807.531,038.05

Fixed Assets

Gross Block440.66448.31455.46475.63504.83509.13603.99611.16621.11628.94
Accumulated Depreciation157.65178.17198.27213.66235.65258.46287.51316.96345.26372.92
Net Fixed Assets283.01270.14257.20261.97269.19250.67316.48294.20275.86256.03
CWIP 3.711.427.609.4832.3986.286.6412.744.935.22
Investments 57.8957.8865.1841.3845.8872.91107.04151.30381.86434.08
Inventories35.9954.6257.7341.3683.102832.0220.9221.6416.67
Trade Receivables10.4525.9445.7743.9438.5231.9544.9748.9060.22152.20
Cash Equivalents 1.712.138.40130.31180.77172.90210.52238.0828.674.30
Others Assets24.3129.8941.2766.3073.3651.0640.03180.9234.37169.55
Total Assets 417.06442.02483.15594.74723.21693.78757.70947.07807.531,038.05

Cash Flow

(All Figures are in Crores.)
PARTICULARSJun'04Jun'05Jun'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13
Cash Flow From Operating Activity 99.2550.69135.59153.8994.54104.49100.0483.2624.7268.15
PBT 72.8380.32154.37174.31123.0988.75215.38148.9451.40133.14
Adjustment 7.821.990.79-18.41-18.80-28.03-14.08-29.73-19.740.45
Changes in Working Capital 22.46-27.31-10.2116.481.5456.57-63.61-0.472.29-65.21
Tax Paid -3.86-4.31-9.36-16.54-11.29-3.70-28.39-35.48-9.22-0.23
Cash Flow From Investing Activity 248.32-4.90-32.5014.10-43.37-67.96-23.05-27.7538.2276.88
Capex -26.25-6.44-13.73-22.28-52.13-58.29-15.27-14.260.010
Net Investments -3.500-20.3020.30-4.50-36.38-34.12-44.27-222.7960.72
Others 278.071.541.5416.0813.2626.7126.3430.79260.9916.16
Cash Flow From Financing Activity -347.04-45.36-96.82-46.08-0.72-44.40-39.37-27.95-43.16-59.50
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -280.94-11.96001.24-21.770000
Interest Paid -31.51-3.81-2.60-1.22-0.69-3.41-12.26-0.99-4.03-0.21
Dividend Paid -12.63-13.88-14.11-43.620-23.69-23.69-26.24-33.62-50.38
Others -21.96-15.71-80.11-1.25-1.274.47-3.42-0.73-5.51-8.91
Net Cash Flow 0.530.426.28121.9150.45-7.8737.6227.5619.7885.54
PARTICULARSJun'04Jun'05Jun'06Mar'07Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13
Ratios
ROE (%)32.7730.345.0449.7618.7112.0432.4231.986.6915.68
ROCE (%)14.2225.7250.9152.4320.5112.8741.6420.388.3119.11
Asset Turnover Ratio0.6411.140.870.830.770.650.510.350.55
PAT to CFO Conversion(x)2.671.21.631.141.452.280.680.440.550.62
Working Capital Days
Receivable Days10162535272430396577
Inventory Days37393939413723222514
Payable Days1041091291651321411891127725

Madras Aluminium Company Ltd Stock News

Madras Aluminium Company Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Madras Aluminium on 01-Jan-1970 05:30 is ₹0.00.
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 Madras Aluminium stood at ₹1,302.9.
The latest P/E ratio of Madras Aluminium as of 01-Jan-1970 05:30 is 11.91.
The latest P/B ratio of Madras Aluminium as of 01-Jan-1970 05:30 is 3.32.
The 52-week high of Madras Aluminium is ₹116.5 and the 52-week low is ₹115.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Madras Aluminium is ₹505.1 ( Cr.) .

About Madras Aluminium Company Ltd

Madras Aluminium Company (MALCO) is part of Vedanta Resources, a London-listed metals and mining major with aluminium, copper and zinc operations in UK, India and Australia.

MALCO is a primary aluminium producer in South India with operations encompassing mining, refining, smelting and power generation, Madras Aluminium Company Ltd. (MALCO) was established in 1965 at Mettur Dam, near the city of Salem, Tamil Nadu in collaboration with Montecatine of Italy. MALCO is the only integrated primary Aluminium Metal complex in the entire South India with its own captive mining, refining, smelting and power generation operations.

MALCO was taken over by the Sterlite group in 1995 and the new management has re-written the success story of MALCO after which the company is surging ahead to achieve global recognition in Aluminium production.

The company has its own bauxite mines in the state of Tamil Nadu, at Yercaud (Salem district) having reserves of 0.8 million tons and Kolli Hills (Namakkal district) having reserves of 0.9 million tons. The company has an integrated aluminum complex at Mettur comprising 40,000 tons per annum of aluminum smelter, 80,000 tons per annum alumina refinery, captive power plant (CPP) of 75 megawatt (3 x 25 megawatt) and associated metal casting and fabrication facilities. Each E.C. Ingot and Alloy Ingot weighs approximately 20 kilograms and six kilograms, respectively. It supplies Wire Rod in diameter of 9.5 millimeter, as well as in F Temper that is as manufactured condition.

The Vedanta Group holds 80% of the share capital of MALCO. India is positioned to become one of the world’s largest producers of aluminium, with the 6th largest reserves of bauxite globally of c2.3 billion tonnes and the 4th largest reserves of coal worldwide of over 250 billion tonnes.  Of these reserves, over 1.4 billion tonnes of bauxite and 62 billion tonnes of coal reserves are co-located in the State of Orissa alone. The next phase of brownfield growth projects undertaken by the company comprises a 1,250 kt aluminium smelter project in Jharsuguda, Orissa (the “Jharsuguda II Project”), as well as a 325 kt aluminium smelter project together with an associated 1,200 MW captive thermal power plant in Korba, Chattisgarh (the “Korba III Project”).  Correspondingly, it will also increase the alumina production capacity at Lanjigarh from 1.4 mtpa to 5 mtpa.

Product range

  • The company is involved in mining, refining, smelting, and power generation operations. The company also manufactures electrical conductor and alloy grade ingots, and electrical conductor grade wire rods, as well as busbars for electrical applications in energy intensive industries.
  • MALCO manufactures E.C. Grade and Alloy Grade (LM Series) Ingots as per IS Specification. Each E.C. Ingot and Alloy Ingot weighs approximately 20 kgs and 6 kgs, respectively. Alloy Ingot is produced as per standard chemical composition as well as customer's specification.
  • Madras Aluminium Company Ltd. (MALCO) supplies Wire Rod in diameter of 9.5 mm ( + 0.5 mm ), as well as in ‘F’ Temper i.e. ‘as manufactured’ condition. MALCO offers E.C. Grade Wire Rod.
  • The company has unique horizontal casting facility and manufactures customized Busbars with a wide range of cross section as well as length. The Busbar is used for electrical applications in energy intensive industries, as current carrying media.

Achievements/ recognition

  • MALCO is ISO 8001 certified for quality management system, ISO 14001 for the environment management system and OHSAS 18001 for occupational heath and safety management system.
  • Recent awards of the company include the ICWAI National Award for Excellence in Cost Management - first prize in Private Sector Manufacturing Unit Category by the Institute of Cost and Works Accountants of India (ICWAI) on July 2, 2007;
  • The Finalist Award of Excellence in Corporate Governance, instituted by the Institute of Directors & World Council for Corporate Governance;
  • The CII Award for Excellence in Water Management.

Recent developments

Twin Star Holdings which holds 80% or 9,00,00,000 equity shares of Rs 2 each of The Madras Aluminium Company Ltd, is planning  to further acquire 2,25,00,000 shares, or around 20% from the public shareholders. In doing so, Twin Star seeks to delist the equity shares of MALCO..

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