Mukand Ltd - Stock Valuation and Financial Performance

BSE: 500460 | NSE: MUKANDLTD | Steel & Iron Products | Small Cap

Mukand Share Price

146.55 0.55 0.38%
as on 19-Mar'24 13:56

DeciZen - make an informed investing decision on Mukand

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Mukand stock performance -

mw4me loader
P/E Ratio (SA):
10.16
Market Cap:
2,109.6 Cr.
52-wk low:
115.5
52-wk high:
212.5

Is Mukand Ltd an attractive stock to invest in?

1. Is Mukand Ltd a good quality company?

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

2. Is Mukand Ltd undervalued or overvalued?

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

3. Is Mukand Ltd a good buy now?

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

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.
Mukand 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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 2.7%4.4%4.5%6.9%2%3.9%1.1%-5.8%6.8%-3.2%-
Value Creation
Index
-0.8-0.7-0.7-0.5-0.9-0.7-0.9-1.4-0.5-1.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,5402,8192,7312,6673,0703,5882,8182,6814,6435,6185,293
Sales YoY Gr.-11%-3.1%-2.4%15.1%16.9%-21.4%-4.9%73.2%21%-
Adj EPS -3.90.91.4-1.3-8.7-6-14.1-27.85.1-14.214.4
YoY Gr.-NA52.8%-194.1%NANANANANA-379.8%-
BVPS (₹) 3332.532.625.680.274.560.663.551.26164.1
Adj Net
Profit
-55.412.619.2-18.1-122-85.1-199-39373.1-205208
Cash Flow from Ops. -26.211.8117295764-172121-262-105174-
Debt/CF from Ops. -88217.523.39.82.6-13.821-7-19.48.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 9.2%12.9%25.9%21%
Adj EPS NANANA-379.8%
BVPS7.1%-5.3%0.2%19.1%
Share Price 21.6% 19.6% 36.7% 7.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-2.60.60.9-1.5-16.4-7.8-20.8-44.88.9-25.223
Op. Profit
Mgn %
8.712.413.212.42.14.93.9-9.75.1-3.1-3.1
Net Profit
Mgn %
-2.20.50.7-0.7-4-2.4-7.1-14.71.6-3.63.9
Debt to
Equity
4.95.55.981.72.3322.81.7-
Working Cap
Days
32232736439332923730530818415777
Cash Conv.
Cycle
198202235241155961581691069554

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 23.00%

Sales growth is growing at healthy rate in last 3 years 25.85%

Debt to equity has declined versus last 3 years average to 1.71

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at -4.97%

Latest Financials - Mukand Ltd.

Standalone Consolidated
TTM EPS (₹) 14.4 13.8
TTM Sales (₹ Cr.) 5,293 5,248
BVPS (₹.) 64.1 62.2
Reserves (₹ Cr.) 781 754
P/BV 2.28 2.35
PE 10.16 10.60
From the Market
52 Week Low / High (₹) 115.50 / 212.50
All Time Low / High (₹) 1.69 / 212.50
Market Cap (₹ Cr.) 2,110
Equity (₹ Cr.) 144.5
Face Value (₹) 10
Industry PE 24.3

Management X-Ray of Mukand:

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
Sales2,5402,8192,7312,6673,0703,5882,8182,6814,6435,618
Operating Expenses 2,3592,4812,3982,3383,0193,4382,7122,9414,4085,806
Manufacturing Costs9009409369731,0131,1799037981,2561,415
Material Costs1,1691,2491,1341,0491,7291,9471,5391,8312,9013,966
Employee Cost 146159171175182208189189202205
Other Costs 145133156142941048112249220
Operating Profit 18033833332851150107-260235-187
Operating Profit Margin (%) 7.1%12.0%12.2%12.3%1.7%4.2%3.8%-9.7%5.1%-3.3%
Other Income 332022242312795272438608
Interest 244266279425267303338307161175
Depreciation 67757471565875694551
Exceptional Items -25-1500-1300000
Profit Before Tax -123227426-132-2558866194
Tax -351163-18-48-5942-269
Profit After Tax -88221144-84-1964692185
PAT Margin (%) -3.5%0.1%0.1%0.4%1.4%-2.3%-6.9%1.7%2.0%3.3%
Adjusted EPS (₹)-6.20.10.10.83.1-6.0-13.83.36.312.8
Dividend Payout Ratio (%)0%0%0%0%0%0%0%31%24%16%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 2,1322,1212,1183611,1341,053857897740881
Share Capital 147147147141141141141141145145
Reserves 1,9851,9741,971220993912716756596737
Minority Interest0000000000
Debt1,8962,3312,4642,5971,6582,2292,4611,8201,0361,505
Long Term Debt1,1081,5021,5821,6497791,5641,8941,7358861,448
Short Term Debt7888298829498796655678415156
Trade Payables850868838864989764775428508541
Others Liabilities 6594314975236113423082441,243220
Total Liabilities 5,5375,7515,9174,3454,3924,3894,4013,3893,5293,147

Fixed Assets

Gross Block3,3553,4063,4371,7691,4741,4691,5501,5411,6041,601
Accumulated Depreciation8699581,0301,0779129641,0341,0941,1201,153
Net Fixed Assets2,4862,4482,407693562505516447484447
CWIP 50262939232330263230
Investments 2512512512671,4281,4531,429715188275
Inventories1,2351,4241,4621,3431,1051,2541,3671,1111,4611,447
Trade Receivables9029871,1161,011310443420517492518
Cash Equivalents 858065615960673620939
Others Assets527537586932905650572537663392
Total Assets 5,5375,7515,9174,3454,3924,3894,4013,3893,5293,147

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -2612117295764-172121-262-105174
PBT -971727441-132-2558866194
Adjustment 27331934027641279385-287170-231
Changes in Working Capital -204-342-217-54704-320-8-80-328215
Tax Paid 118-8-5-111-217-13-5
Cash Flow From Investing Activity -192-31-33898161,353338558
Capex -23-14-36-34886-18631-170619
Net Investments 40000032715508-61
Others 01651221700
Cash Flow From Financing Activity 50-14-101-260-859153-136-1,071-212-736
Net Proceeds from Shares 143000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -312-312-277-40668-269-267-323-150-183
Dividend Paid 00000000-14-22
Others 218298175145-928422131-749-49-532
Net Cash Flow 40-152-6-1001921-5
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-20.050.340.352.735.89-7.69-20.475.2411.1922.87
ROCE (%)4.539.259.0315.499.275.252.4512.928.2614.31
Asset Turnover Ratio0.530.550.530.580.710.820.640.691.341.68
PAT to CFO Conversion(x)N/A658.526.8217.36N/AN/A-5.7-1.140.94
Working Capital Days
Receivable Days110110125130783856644033
Inventory Days14715517217114412017016910194
Payable Days125130141158119109118925547

Mukand Ltd Stock News

Mukand Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Mukand on 19-Mar-2024 13:56 is ₹146.6.
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 13:56 the market cap of Mukand stood at ₹2,109.6.
The latest P/E ratio of Mukand as of 19-Mar-2024 13:56 is 10.16.
The latest P/B ratio of Mukand as of 19-Mar-2024 13:56 is 2.28.
The 52-week high of Mukand is ₹212.5 and the 52-week low is ₹115.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Mukand is ₹5,293 ( Cr.) .

About Mukand Ltd

Mukand, incorporated in 1937; is engaged in manufacturing of alloy and stainless steel long products. Earlier known as Mukand Iron & Steel Works; the company operates in four segments namely steel, industrial machinery, road construction and other products.

Mukand is part of Bajaj group of companies. Bajaj Auto is Flagship Company of this group.

Company’s steel plant is located at Kalwe near Mumbai and Hospet, Karnataka. Mukand’s manufacturing facilities are ISO 9000: 2000 certified.

The Company supplies its steel products to customers located in countries such as the United States of America, Germany, Italy, the Netherlands, Switzerland, United Arab Emirates, Japan, Korea, Hong Kong, Taiwan, Vietnam, to mention a few.

The company has offered its products and services to clients like Maruti Udyog, Bajaj Auto, Honda Motor Cycle & Scooter India, Hero Honda Motors, Steel Authority of India, Larsen & Toubro, Defence Research and Development Organisation, Mitsui, General Electric, National Highways Authority of India are among others.

In 2012 the company formed the Joint Venture with Sumitomo Corporation, Japan & sale of Cold Finished Bars & Wires Business to subsidiary, Technosys Metal Processing Ltd.

Business Area

Steel- Under this, it manufactures a wide range of steel and alloy products such as wire rods, rolled products, round bars, hexagons, round corners squares, bright bars, cold finished wires and cast for booms and billets.

Machinery- Under this Mukand manufactures electric overhead travelling (EOT) cranes, electrical level luffing crane, gantry crane, container handling crane, bulk material handling and equipment, process plant equipment.

Turnkey projects- This division undertakes several projects for various organisation such as a 40 metre high mobile service structure for assembly of augmented satellite launching vehicle (ASLV) for Indian Space Research Organization (ISRO); An anode handling and rodding plant for National Aluminium Company are among several others projects.

Road construction- The company undertook construction of two highway projects namely Ashapur-Khaga and Handia-Rajatalao funded by the World Bank.

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