Maharashtra Elektrosmelt Ltd. (Amalgamated) - Stock Valuation and Financial Performance

BSE: 504824 | NSE: | Ferro & Silica Manganese | Small Cap

BSE Share Price
Not Listed

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Maharashtra Elektrosmelt Ltd. (Amalgamated) stock performance -

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P/E Ratio (SA):
32.89
Market Cap:
551.8 Cr.
52-wk low:
229.9
52-wk high:
395

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 Maharash.Elektrosmel:

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

Mar'01Mar'02Mar'03Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10TTM
ROCE % -81.6%-100.2%53.4%39.5%149.1%42.4%29.3%44.3%36.7%33%-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 159128157125227196232317324331319
Sales YoY Gr.--19.7%22.7%-20%81.3%-13.8%18.5%36.5%2.4%2.2%-
Adj EPS -7.4-3.50.52.622.28.87.615.117207
YoY Gr.-NANA459.6%744.5%-60.6%-12.9%98.6%12.3%17.5%-
BVPS (₹) 000-7.614.122.52839.752.76877.2
Adj Net
Profit
-17.8-8.41.16.353.32118.336.340.847.917
Cash Flow from Ops. 14.8-8.60.6-1.13723.7-6.687.6-16.442.3-
Debt/CF from Ops. 1.4-3.756.3-41.30.20.1-0.20-0.10-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.5%7.8%12.6%2.2%
Adj EPS NA-2.1%37.9%17.5%
BVPSNA36.9%34.4%29%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'01Mar'02Mar'03Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10TTM
Return on
Equity %
255.541.7-4.7-31.557646.529.844.536.833.19.6
Op. Profit
Mgn %
-6.5-4.85.17.529.116.311.516.714.515.7-2.9
Net Profit
Mgn %
-11.2-6.60.7523.510.77.911.512.614.55.3
Debt to
Equity
-1.2-1.2-1.5-2.60.200000-
Working Cap
Days
13811190109961391259097128154
Cash Conv.
Cycle
-48-53-38-618484943536176

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 - Maharashtra Elektrosmelt Ltd. (Amalgamated)

Standalone Consolidated
TTM EPS (₹) 7 -
TTM Sales (₹ Cr.) 319 -
BVPS (₹.) 77.2 -
Reserves (₹ Cr.) 161 -
P/BV 2.98 -
PE 32.89 -
From the Market
52 Week Low / High (₹) 229.90 / 395.00
All Time Low / High (₹) 6.01 / 1971.30
Market Cap (₹ Cr.) 552
Equity (₹ Cr.) 24
Face Value (₹) 10
Industry PE 9.7

Management X-Ray of Maharash.Elektrosmel:

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 Maharash.Elektrosmel

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'01Mar'02Mar'03Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10
Sales159127.74156.70125.32227.18195.74231.88316.52324.10331.31
Operating Expenses 169.40133.82148.79115.97162.62163.92205.15263.70277.18279.37
Manufacturing Costs107.8598.10103.1874.69101.85105.67131.19127.51149.77171.87
Material Costs40.9211.0918.3215.8620.6330.4441.2475.8569.9159.72
Employee Cost 16.5820.5321.4321.6131.5023.6027.6455.0451.4041.53
Other Costs 4.044.115.863.818.644.215.085.316.106.26
Operating Profit -10.40-6.087.929.3564.5631.8226.7252.8246.9351.94
Operating Profit Margin (%) -6.5%-4.8%5.1%7.5%28.4%16.3%11.5%16.7%14.5%15.7%
Other Income 2.341.500.901.894.782.443.345.0717.6129.95
Interest 8.662.545.942.922.260.360.160.110.260.18
Depreciation 1.131.261.761.821.951.971.701.912.192.48
Exceptional Items 0000000000
Profit Before Tax -17.84-8.381.126.5065.1331.9328.2155.8762.0879.23
Tax 0000.2012.9010.969.7119.5521.1931.33
Profit After Tax -17.84-8.381.126.3052.2320.9718.5036.3240.8947.90
PAT Margin (%) -11.2%-6.6%0.7%5.0%23.0%10.7%8.0%11.5%12.6%14.5%
Adjusted EPS (₹)-7.4-3.50.52.621.88.77.715.117.020.0
Dividend Payout Ratio (%)0%0%0%0%0%23%26%20%21%20%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'01Mar'02Mar'03Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10

Equity and Liabilities

Shareholders Fund -15.91-24.29-23.17-16.8635.3754.9567.7495.36126.42163.09
Share Capital 24242424242424242424
Reserves -39.91-48.29-47.17-40.8611.3730.9543.7471.36102.42139.09
Minority Interest0000000000
Debt21.2832.1035.1247.137.982.080.980.391.010.22
Long Term Debt21.2832.1035.1247.137.982.080.980.391.010.22
Short Term Debt0000000000
Trade Payables51.3846.0232.1019.5127.7721.8525.5415.3911.2215.16
Others Liabilities 22.0626.1927.8634.4054.2666.5044.4594.9193.0287.01
Total Liabilities 78.8180.0371.9184.17125.37145.37138.71206.05231.67265.49

Fixed Assets

Gross Block39.4454.7154.8965.7758.7160.1861.0763.6470.8374.96
Accumulated Depreciation27.1028.3530.1033.2932.8634.9036.1137.7739.6642.11
Net Fixed Assets12.3426.3624.8032.4825.8525.2824.9625.8731.1732.85
CWIP 12.510.120.030.070.630.6622.675.415.58
Investments 0000000000
Inventories28.3132.7627.1519.5344.9668.2965.0342.1960.5258.19
Trade Receivables3.052.045.2312.8219.461.3117.2133.8927.0118.07
Cash Equivalents 4.642.990.634.365.5721.797.1986.1059.9093.67
Others Assets17.9615.7514.0814.9128.9128.0422.3215.3247.6657.13
Total Assets 78.8180.0371.9184.17125.37145.37138.71206.05231.67265.49

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'01Mar'02Mar'03Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10
Cash Flow From Operating Activity 14.78-8.610.62-1.1437.0123.70-6.5787.60-16.3742.34
PBT -17.84-8.381.126.5065.1331.9328.2555.8762.0879.23
Adjustment 11.655.1110.587.947.064.502.5622.9712.11-8.55
Changes in Working Capital 20.98-5.33-11.08-15.59-21.23-2.51-20.7137.06-65.04-2.83
Tax Paid 0000-13.96-10.23-16.66-28.31-25.52-25.51
Cash Flow From Investing Activity -3.45-1.52-0.11-4.225.61-1.21-1.32-2.40-1.542.21
Capex -3.45-1.52-0.11-4.225.58-1.55-2.62-4.02-10.08-4.35
Net Investments 0000000000
Others 00000.040.341.301.628.546.57
Cash Flow From Financing Activity -8.648.49-2.889.10-41.41-6.26-6.71-6.30-8.29-10.78
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -0.3010.823.0112.85-23.51-4.580000
Interest Paid -8.35-2.34-5.89-2.92-2.26-0.36-0.16-0.11-0.25-0.18
Dividend Paid 000000-4.79-4.77-7.39-8.38
Others 000-0.84-15.64-1.32-1.77-1.41-0.64-2.22
Net Cash Flow 2.69-1.65-2.363.741.2116.22-14.6078.91-26.2033.77
PARTICULARSMar'01Mar'02Mar'03Mar'04Mar'05Mar'06Mar'07Mar'08Mar'09Mar'10
Ratios
ROE (%)N/AN/AN/AN/A664.6247.7330.5244.7136.8933.09
ROCE (%)N/AN/AN/AN/A190.3165.9345.6668.3455.954.63
Asset Turnover Ratio1.841.962.51.962.51.832.052.31.941.54
PAT to CFO Conversion(x)N/AN/A0.55-0.180.711.13-0.362.41-0.40.88
Working Capital Days
Receivable Days316722221512242622
Inventory Days73725856458483494457
Payable Days5911,604778594418297210986981

Maharashtra Elektrosmelt Ltd. (Amalgamated) Stock News

Maharashtra Elektrosmelt Ltd. (Amalgamated) FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Maharash.Elektrosmel 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 Maharash.Elektrosmel stood at ₹551.8.
The latest P/E ratio of Maharash.Elektrosmel as of 01-Jan-1970 05:30 is 32.89.
The latest P/B ratio of Maharash.Elektrosmel as of 01-Jan-1970 05:30 is 2.98.
The 52-week high of Maharash.Elektrosmel is ₹395.0 and the 52-week low is ₹229.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Maharash.Elektrosmel is ₹319.5 ( Cr.) .

About Maharashtra Elektrosmelt Ltd. (Amalgamated)

Maharashtra Elektrosmelt Ltd (MEL) is a subsidiary of Steel Authority of India Ltd, a government of India Enterprise and the largest Manganese based Ferro Alloy producer in the country.

Maharashtra Elektrosmelt Ltd is a government company U/s 617 of the Companies Act, 1956. Steel Authority of India Ltd (SAIL), a government company, holds 99.12% in shares of MEL and that is why MEL falls under the category of government company. The company is managed by the board of directors appointed by the holding company (SAIL). Being a government company, it is subjected to the control of Government of India through the mof steel.

The main functions of MEL are:

  • Production and selling of High Carbon Ferro Manganese, Medium / low Carbon Ferro Manganese and Silico Manganese to the integrated steel plants of SAIL and others in private sector.
  • To help SAIL plants in formulating policies with respect to procurement of ferro alloys, a major raw material, for their steel plants.
  • To help SAIL in conducting R&D activities with respect to ferro alloys and developing new grades of ferro alloys
  • To ensure uninterrupted supply of ferro alloys to SAIL plants

MEL has an installed capacity of 1,00,000 TPY equivalent Ferro Manganese. The product range of MEL includes High Carbon Ferro Manganese, Silico Manganese and Medium/Low Carbon Ferro Manganese. It is accredited with Quality Assurance Certificate ISO 9001:2000.

The plant is located at Chandrapur in Maharashtra. Executive Director appointed by the holding company stationed at Chandrapur is the CEO of the organization. He is assisted by the Head of Departments of Works, Finance, Personnel & Administration, Commercial, Marketing, Vigilance, Board & Company Affairs, Law, Internal Audit and Public Relations.

Other service departments of the company include Raw Material Yard, finished Product Handling Yard, Maintenance Departments, Environment Management Dept, Safety Engineering Dept, Commercial Dept, Personnel & Administration Dept, Finance & Accounts Dept etc.

MEL's major infrastructure facilities include two nos. of 33 MVA Submerged Electric Arc Furnaces for the production of ferro alloys, Manganese Ore Sintering Plants, Furnace gas based Power Plant and one small Electric Arc Furnace for the production of MC/LC Ferro Manganese with Lime Calcination and Manganese Ore Roasting Unit.

Over the years, MEL has emerged as a leader in ferroalloy technology with technological developments in many areas like raw material preparation, raw material substitution, furnace operation, ferroalloy casting and processing etc. Cost Reduction through utilization of wastes has been the area of prime concern at MEL. Utilisation of Ferro Manganese Slag in the production of Silico Manganese, Sintering of Manganese Ore Fines and its use in production process, Utilisation of furnace gas as fuel for power generation, lime calcinations and manganese ore roasting are some of the major areas of waste utilization.

MEL has taken up several schemes and projects in and around the villages of its plant. Some of them are donation of stationery items and bags to the school children, providing street light fittings, organizing medical check up camps for women and children, training the youth in the villages for getting self-employment and beautification of Chandrapur city etc. In addition, plans are made to provide a mobile Ambulance with medical staff and medicine and also constructing a market yard for small vendors in the villages in the vicinity of the plant for the benefit of the villagers.

Product range of the company includes:

  • High Carbon Ferro Manganese
  • Low Carbon Ferro Manganese
  • Medium Carbon Ferro Manganese
  • Silico Manganese

Awards/ Achievements

Total Quality Management is an integral part of the day to day activities of the company. The ISO 9001:2000 Quality Assurance System is being maintained since its accreditation, which covers all the sections of the plant.

The company has gained a prestigious position in the area of safety and environment. It has been awarded with various international and national awards from British Safety Council, London, National Safety Council USA, Govt. of India etc. MEL has also made great strides in establishing industrial safety consciousness in the industrial belt of Vidarbha.

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