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Mukand Ltd. Stock Analysis

Small Cap
Evaluated by 248 users | BSE: 500460 | NSE: MUKANDLTD |
Steel & Iron Products
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...

Analysis of Financial Track Record

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
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 6.38%3.55%1.6%1.27%2.66%4.36%4.5%6.9%2.04%3.9%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 1,9822,5492,5662,1262,5402,8192,7312,6673,0703,588
Y-o-Y Gr. Rt.-28.6%0.7%-17.1%19.4%11%-3.1%-2.4%15.1%16.9%
Adjusted EPS (Rs.) 8.322.7-8.82-13.66-3.920.891.36-1.28-8.66-6.02
Y-o-Y Gr. Rt.--67.6%-426.7%NANANA52.8%-194.1%NANA
Book Value per Share (Rs.) 69.9875.862.7957.332.9732.4932.625.5680.274.5
Adjusted Net Profit 59.819.4-63.4-98.2-55.412.619.2-18.1-122-85.1
Net Op. Cash Flow (Rs. Cr.) -71.181.574.411.6-26.211.8117295764-172
Debt to Cash Flow from Ops -23.6621.4325.3186.41-87.95217.5223.329.772.55-13.83
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Mukand Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 6.8%7.2%9.5%16.9%
Adjusted EPS -196.5%NA-264.2%NA
Book Value per Share 0.717.731.7-7.1
Share Price 2.7% 6% -21.5% 22.1%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) 3.280.95-2.91-4.67-2.630.590.91-1.46-16.38-7.78
Operating Profit Margin (%) 12.957.096.726.458.6512.3913.2212.412.054.86
Net Profit Margin (%) 3.020.76-2.47-4.62-2.180.450.7-0.68-3.99-2.37
Debt to Equity 3.313.174.125.184.895.55.867.961.722.26
Working Capital Days 301260284356322327364393329237
Cash Conversion Cycle 17817819122519820223524115596
Entity Percentage Holding
Promoters 74.35%
Institutions 3.79%
Non-Institutions 21.86%
Pledged *14.7214.7214.7214.6814.6014.4814.4813.8313.1213.12
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Mukand's performance infers:

Mukand earnings have grown by 0%, whereas share price has appreciated 6% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Mukand share prices over the last 10 years. Here is what we found out:

Mukand share price has appreciated -5.3% annually over the past ten years.

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:

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.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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