BSE: 506261 | NSE: MODISONLTD | Electric Equipment | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Modison Ltd is a good quality company.
The key valuation ratios of Modison Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Modison Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 8.4% | 16.7% | 19.5% | 18.8% | 18% | 12.7% | 18.4% | 11.9% | 8.9% | 15% | - |
| Value Creation Index ⓘ | -0.4 | 0.2 | 0.4 | 0.3 | 0.3 | -0.1 | 0.3 | -0.2 | -0.4 | 0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 171 | 168 | 191 | 201 | 220 | 219 | 292 | 340 | 335 | 405 | 460 |
| Sales YoY Gr. | - | -1.9% | 13.4% | 5.5% | 9.5% | -0.5% | 33.2% | 16.2% | -1.4% | 20.9% | - |
| Adj EPS ⓘ | 1.5 | 3.2 | 4.5 | 4.2 | 4.5 | 4.9 | 7.6 | 5.1 | 3.8 | 5.5 | 6 |
| YoY Gr. | - | 110.5% | 40.6% | -6.2% | 7.6% | 7.9% | 54.7% | -33.3% | -25.5% | 45.9% | - |
| BVPS (₹) ⓘ | 29.9 | 32 | 35.2 | 39 | 42.3 | 45.2 | 50.6 | 54.1 | 57.5 | 62.6 | 63.4 |
| Adj Net Profit ⓘ | 4.9 | 10.4 | 14.6 | 13.7 | 14.7 | 15.9 | 24.6 | 16.4 | 12.3 | 17.9 | 20 |
| Cash Flow from Ops. ⓘ | 12.7 | 26.4 | 12.5 | 18.6 | 3.8 | 19.3 | 23.8 | 14.4 | 22.5 | -3.6 | - |
| Debt/CF from Ops. ⓘ | 2.1 | 0.8 | 1.5 | 0.7 | 5.6 | 1.3 | 0.5 | 1.2 | 0.2 | -8.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 10% | 12.9% | 11.5% | 20.9% | ||||
| Adj EPS ⓘ | 15.4% | 3.9% | -10.1% | 45.9% | ||||
| BVPSⓘ | 8.6% | 8.1% | 7.3% | 8.7% | ||||
| Share Price | 13.1% | 43.1% | 33.3% | 39.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 5.1 | 10.3 | 13.4 | 11.3 | 11.1 | 11.2 | 15.8 | 9.7 | 6.8 | 9.1 | 9.6 |
| Op. Profit Mgn % ⓘ | 10 | 15.5 | 16.5 | 13.5 | 13.5 | 12.4 | 13.7 | 9 | 7.3 | 8.1 | 7.9 |
| Net Profit Mgn % ⓘ | 2.9 | 6.2 | 7.7 | 6.8 | 6.7 | 7.3 | 8.4 | 4.8 | 3.7 | 4.4 | 4.3 |
| Debt to Equity ⓘ | 0.3 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.1 | 0.1 | 0 | 0.2 | 0 |
| Working Cap Days ⓘ | 168 | 166 | 149 | 168 | 181 | 203 | 163 | 145 | 150 | 144 | 67 |
| Cash Conv. Cycle ⓘ | 142 | 133 | 122 | 142 | 153 | 168 | 133 | 123 | 130 | 123 | 42 |
Return on Equity has increased versus last 3 years average to 9.60%
Sales growth is growing at healthy rate in last 3 years 11.47%
Sales growth is good in last 4 quarters at 32.61%
Net Profit has been subdued in last 3 years -10.14%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 6 | 6 |
| TTM Sales (₹ Cr.) | 460 | 460 |
| BVPS (₹.) ⓘ | 63.4 | 63.4 |
| Reserves (₹ Cr.) ⓘ | 209 | 203 |
| P/BV ⓘ | 2.92 | 2.91 |
| PE ⓘ | 30.66 | 30.64 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 95.20 / 232.15 |
| All Time Low / High (₹) | 0.42 / 232.15 |
| Market Cap (₹ Cr.) | 600 |
| Equity (₹ Cr.) | 3.3 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 91.8 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 171 | 168 | 191 | 201 | 220 | 219 | 292 | 340 | 335 | 405 |
| Operating Expenses ⓘ | 155 | 142 | 159 | 174 | 191 | 192 | 252 | 309 | 310 | 373 |
| Manufacturing Costs | 13 | 14 | 15 | 16 | 16 | 17 | 16 | 18 | 19 | 23 |
| Material Costs | 126 | 111 | 127 | 139 | 153 | 152 | 211 | 266 | 263 | 320 |
| Employee Cost | 10 | 11 | 12 | 13 | 14 | 16 | 17 | 19 | 20 | 21 |
| Other Costs ⓘ | 6 | 6 | 6 | 6 | 7 | 7 | 8 | 7 | 7 | 8 |
| Operating Profit ⓘ | 17 | 26 | 31 | 27 | 30 | 27 | 40 | 30 | 25 | 32 |
| Operating Profit Margin (%) | 9.7% | 15.5% | 16.5% | 13.5% | 13.4% | 12.4% | 13.7% | 9.0% | 7.3% | 7.9% |
| Other Income ⓘ | 0 | 1 | 1 | 2 | 1 | 3 | 2 | 2 | 1 | 1 |
| Interest ⓘ | 4 | 4 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 3 |
| Depreciation ⓘ | 7 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 6 | 6 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 3 | 3 | -3 | -4 | -4 | -3 | 6 |
| Profit Before Tax ⓘ | 7 | 17 | 22 | 24 | 24 | 19 | 30 | 20 | 15 | 29 |
| Tax ⓘ | 2 | 6 | 8 | 7 | 8 | 4 | 7 | 5 | 4 | 8 |
| Profit After Tax | 5 | 11 | 14 | 16 | 17 | 15 | 22 | 15 | 11 | 21 |
| PAT Margin (%) | 2.7% | 6.5% | 7.5% | 8.2% | 7.6% | 6.9% | 7.7% | 4.3% | 3.3% | 5.3% |
| Adjusted EPS (₹) | 1.4 | 3.4 | 4.4 | 5.1 | 5.1 | 4.7 | 6.9 | 4.5 | 3.4 | 6.6 |
| Dividend Payout Ratio (%) | 53% | 30% | 23% | 30% | 29% | 21% | 22% | 22% | 29% | 38% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 97 | 104 | 114 | 127 | 138 | 147 | 165 | 176 | 187 | 203 |
| Share Capital ⓘ | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves ⓘ | 94 | 101 | 111 | 124 | 134 | 144 | 161 | 173 | 184 | 200 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 26 | 21 | 18 | 13 | 21 | 25 | 12 | 17 | 5 | 32 |
| Long Term Debt | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 26 | 21 | 18 | 12 | 20 | 25 | 12 | 17 | 5 | 32 |
| Trade Payables | 4 | 5 | 4 | 6 | 4 | 5 | 6 | 7 | 9 | 10 |
| Others Liabilities ⓘ | 20 | 15 | 16 | 17 | 17 | 14 | 21 | 14 | 20 | 26 |
| Total Liabilities ⓘ | 147 | 145 | 152 | 162 | 180 | 191 | 203 | 214 | 222 | 271 |
Fixed Assets | ||||||||||
| Gross Block | 108 | 118 | 64 | 70 | 75 | 80 | 90 | 103 | 107 | 123 |
| Accumulated Depreciation | 51 | 57 | 6 | 12 | 18 | 24 | 30 | 36 | 42 | 47 |
| Net Fixed Assetsⓘ | 57 | 61 | 58 | 58 | 56 | 56 | 60 | 67 | 65 | 76 |
| CWIP ⓘ | 2 | 1 | 1 | 1 | 1 | 3 | 3 | 3 | 10 | 10 |
| Investmentsⓘ | 0 | 0 | 2 | 2 | 2 | 4 | 2 | 2 | 2 | 2 |
| Inventories | 45 | 40 | 42 | 47 | 65 | 61 | 60 | 65 | 79 | 96 |
| Trade Receivables | 31 | 29 | 39 | 42 | 42 | 45 | 60 | 58 | 53 | 66 |
| Cash Equivalents | 2 | 2 | 2 | 2 | 2 | 3 | 0 | 4 | 1 | 1 |
| Others Assetsⓘ | 11 | 12 | 8 | 10 | 12 | 20 | 17 | 15 | 12 | 20 |
| Total Assets ⓘ | 147 | 145 | 152 | 162 | 180 | 191 | 203 | 214 | 222 | 271 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 13 | 26 | 12 | 19 | 4 | 19 | 24 | 14 | 22 | -4 |
| PBT ⓘ | 7 | 17 | 22 | 24 | 24 | 19 | 30 | 20 | 15 | 29 |
| Adjustment ⓘ | 10 | 9 | 8 | 7 | 8 | 9 | 10 | 8 | 11 | 6 |
| Changes in Working Capital ⓘ | -1 | 6 | -10 | -6 | -21 | -2 | -9 | -7 | 0 | -31 |
| Tax Paid ⓘ | -3 | -5 | -8 | -6 | -8 | -6 | -7 | -7 | -5 | -8 |
| Cash Flow From Investing Activity ⓘ | -6 | -11 | -3 | -8 | -4 | -15 | -4 | -11 | -12 | -16 |
| Capex | -6 | -10 | -3 | -8 | -4 | -14 | -5 | -11 | -12 | -16 |
| Net Investments | 0 | -2 | -1 | 0 | 0 | -1 | 1 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -6 | -15 | -9 | -10 | 0 | -3 | -21 | 1 | -14 | 19 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -2 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -3 | -3 | -2 | -1 | -2 | -2 | -2 | -2 | -1 | -2 |
| Dividend Paid ⓘ | -4 | -7 | -4 | -4 | -6 | -6 | -5 | -3 | 0 | -5 |
| Others ⓘ | 3 | -5 | -3 | -5 | 8 | 5 | -14 | 6 | -12 | 27 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 | -1 | 1 | -1 | 4 | -4 | 0 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.78 | 10.83 | 13.08 | 13.63 | 12.65 | 10.65 | 14.44 | 8.61 | 6.17 | 10.95 |
| ROCE (%) | 8.43 | 16.71 | 19.51 | 18.8 | 17.98 | 12.72 | 18.37 | 11.9 | 8.91 | 15.02 |
| Asset Turnover Ratio | 1.26 | 1.26 | 1.4 | 1.31 | 1.29 | 1.18 | 1.49 | 1.63 | 1.54 | 1.64 |
| PAT to CFO Conversion(x) | 2.6 | 2.36 | 0.86 | 1.19 | 0.24 | 1.27 | 1.09 | 0.93 | 2 | -0.19 | Working Capital Days |
| Receivable Days | 62 | 59 | 60 | 72 | 70 | 73 | 66 | 63 | 60 | 54 |
| Inventory Days | 87 | 85 | 72 | 79 | 93 | 104 | 75 | 67 | 78 | 79 |
| Payable Days | 10 | 14 | 12 | 12 | 12 | 11 | 9 | 9 | 11 | 11 |
Modison Metals Ltd was founded in 1965 by Girdharilal Madanlal Modi, Rajkumar Mohanlal Modi and Sureshchandra Purshottamdas Modi.
The company is an established manufacturer of electrical contacts made of silver and silver alloys for low, medium and high voltage switchgear industry. It makes contacts like pure silver, silver copper, silver cadmium, silver cadmium oxide (by powder metallurgy and internal oxidation), silver nickel, silver graphite, silver tungsten, silver tungsten carbide etc. These contacts are manufactured in various forms and sizes as per customer s drawings and specifications.
Situated at Vapi in Gujarat, Modison Metals offers total solution for complete range of contact parts both for arcing and main current carrying contacts; for medium and high tension switchgears. Right from silver refining to producing all the semis like oxygen free copper, CuCr / Cu CrZr, Ag Alloys, extruded sections and profiles are carried out in house.
In addition, Modison Metals also has state-of-the-art Electron Beam Welding machines, VIM furnaces, CNC machining centres and Ag platting plant all under one roof, is an added competitive edge.
Modison has dedicated in house R&D for development of leading switchgear manufacturers all over the world.
Product range of the company includes:
LV Contacts
Semis for LV / MV Silver Inlay / Overlay / Through Lay in Copper / Silver bearing Copper / Silver Bronze
Silver Targets : 4N for CD - R
Articles Of Silver
Achievements/ recognition:
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