Past 10 year’s financial track record analysis by Moneyworks4me indicates that MCON Rasayan India Ltd is a below average quality company.
The key valuation ratios of MCON Rasayan India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of MCON Rasayan India 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'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 0% | 0% | 0% | 0% | 8.4% | 13.6% | 14.9% | 14.6% | 17.4% | - |
| Value Creation Index ⓘ | NA | NA | NA | NA | -0.4 | 0.0 | 0.1 | 0.1 | 0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||||||
| Sales ⓘ | 0 | 0 | 0 | 0 | 9 | 9 | 19.2 | 31 | 42 | 42 |
| Sales YoY Gr. | - | NA | NA | NA | NA | 0.1% | 114% | 61.5% | 35.5% | - |
| Adj EPS ⓘ | 0 | 0 | 0 | 0 | 0.2 | 0.5 | 1.5 | 1.8 | 3.5 | 3.1 |
| YoY Gr. | - | NA | NA | NA | NA | 231.3% | 175.5% | 23.3% | 96.7% | - |
| BVPS (₹) ⓘ | 0 | 0 | 0 | 0 | 4.9 | 5.3 | 7.1 | 21.2 | 24.8 | 43.2 |
| Adj Net Profit ⓘ | 0 | 0 | 0 | 0 | 0 | 0.2 | 0.5 | 1.1 | 2.2 | 2 |
| Cash Flow from Ops. ⓘ | 0 | 0 | 0 | 0 | -0.6 | 0 | -2 | -5.3 | 3.9 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | -5.7 | -206.3 | -3.8 | -1.6 | 4.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 67.3% | 35.5% | ||||
| Adj EPS ⓘ | NA | NA | 88.3% | 96.7% | ||||
| BVPSⓘ | NA | NA | 67.5% | 17.1% | ||||
| Share Price | - | - | - | 34% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0 | 0 | 0 | 0 | 3.3 | 12.3 | 23.6 | 14.4 | 15.4 | 9 |
| Op. Profit Mgn % ⓘ | 0 | 0 | 0 | 0 | 7.5 | 10.1 | 7.5 | 8.7 | 12.6 | NAN |
| Net Profit Mgn % ⓘ | 0 | 0 | 0 | 0 | 0.4 | 2 | 2.6 | 3.7 | 5.3 | 5.3 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 2.9 | 1.9 | 3.1 | 0.6 | 1 | - |
| Working Cap Days ⓘ | 0 | 0 | 0 | 0 | 0 | 270 | 177 | 205 | 229 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 0 | 0 | 0 | 0 | 91 | 83 | 74 | 108 | 0 |
Sales growth is growing at healthy rate in last 3 years 67.29%
Net Profit is growing at healthy rate in last 3 years 88.33%
Debt to equity has declined versus last 3 years average to 1.02
Return on Equity has declined versus last 3 years average to 9.00%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 3.1 | - |
| TTM Sales (₹ Cr.) | 42 | - |
| BVPS (₹.) ⓘ | 43.2 | - |
| Reserves (₹ Cr.) ⓘ | 24 | - |
| P/BV ⓘ | 4.86 | - |
| PE ⓘ | 68.71 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 154 |
| Equity (₹ Cr.) | 7.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 57.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Sales | 9 | 9 | 19 | 31 | 42 |
| Operating Expenses ⓘ | 8 | 8 | 18 | 28 | 37 |
| Manufacturing Costs | 2 | 2 | 4 | 6 | 7 |
| Material Costs | 4 | 4 | 10 | 16 | 21 |
| Employee Cost | 1 | 1 | 2 | 3 | 5 |
| Other Costs ⓘ | 1 | 1 | 2 | 3 | 5 |
| Operating Profit ⓘ | 1 | 1 | 1 | 3 | 5 |
| Operating Profit Margin (%) | 7.5% | 10.1% | 7.5% | 8.6% | 12.6% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 0 |
| Interest ⓘ | 0 | 0 | 0 | 1 | 2 |
| Depreciation ⓘ | 0 | 0 | 0 | 0 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 0 | 0 | 1 | 2 | 3 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 1 |
| Profit After Tax | 0 | 0 | 0 | 1 | 2 |
| PAT Margin (%) | 0.4% | 2.1% | 2.6% | 3.7% | 5.3% |
| Adjusted EPS (₹) | 0.2 | 0.6 | 1.5 | 1.8 | 3.6 |
| Dividend Payout Ratio (%) | 0% | 8% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 1 | 2 | 2 | 13 | 16 | |||||
| Share Capital ⓘ | 1 | 2 | 2 | 6 | 6 | |||||
| Reserves ⓘ | 0 | 0 | 1 | 7 | 9 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | |||||
| Debt | 3 | 3 | 7 | 8 | 15 | |||||
| Long Term Debt | 1 | 1 | 2 | 4 | 5 | |||||
| Short Term Debt | 2 | 2 | 5 | 4 | 10 | |||||
| Trade Payables | 3 | 3 | 4 | 7 | 12 | |||||
| Others Liabilities ⓘ | 0 | 1 | 1 | 2 | 3 | |||||
| Total Liabilities ⓘ | 8 | 8 | 14 | 30 | 46 | |||||
Fixed Assets | ||||||||||
| Gross Block | 2 | 2 | 3 | 8 | 12 | |||||
| Accumulated Depreciation | 1 | 1 | 1 | 2 | 3 | |||||
| Net Fixed Assetsⓘ | 1 | 1 | 1 | 7 | 10 | |||||
| CWIP ⓘ | 0 | 0 | 1 | 0 | 5 | |||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | |||||
| Inventories | 1 | 2 | 4 | 7 | 11 | |||||
| Trade Receivables | 3 | 4 | 5 | 10 | 17 | |||||
| Cash Equivalents | 0 | 0 | 0 | 0 | 1 | |||||
| Others Assetsⓘ | 2 | 1 | 2 | 6 | 1 | |||||
| Total Assets ⓘ | 8 | 8 | 14 | 30 | 46 | |||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -1 | 0 | -2 | -5 | 4 |
| PBT ⓘ | 0 | 0 | 1 | 2 | 3 |
| Adjustment ⓘ | 1 | 1 | 1 | 1 | 3 |
| Changes in Working Capital ⓘ | -1 | -1 | -3 | -8 | -2 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 0 | 0 | -1 | -5 | -9 |
| Capex | 0 | 0 | -1 | -5 | -9 |
| Net Investments | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 1 | 0 | 3 | 10 | 6 |
| Net Proceeds from Shares ⓘ | 1 | 0 | 0 | 10 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 1 | 1 | 2 |
| Interest Paid ⓘ | 0 | 0 | 0 | -1 | -2 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | 0 | 3 | 0 | 6 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 | 0 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.27 | 12.92 | 23.68 | 14.39 | 15.44 | |||||
| ROCE (%) | 8.42 | 13.62 | 14.87 | 14.64 | 17.38 | |||||
| Asset Turnover Ratio | 1.16 | 1.13 | 1.7 | 1.39 | 1.11 | |||||
| PAT to CFO Conversion(x) | N/A | N/A | N/A | -5 | 2 | Working Capital Days | ||||
| Receivable Days | 128 | 138 | 83 | 91 | 118 | |||||
| Inventory Days | 56 | 77 | 64 | 64 | 77 | |||||
| Payable Days | 278 | 262 | 120 | 125 | 168 | |||||
MCON Rasayan India was originally incorporated as ‘MCON Rasayan Private Limited’ a Private Limited Company under the Companies Act, 2013 at its registered office situated at Jogeshwari, Mumbai, pursuant to a certificate of incorporation dated September 22, 2016 issued by the Registrar of Companies Maharashtra at Mumbai (RoC). Thereafter, the name the company was changed from ‘MCON Rasayan Private Limited’ to ‘MCON Rasayan India Private Limited’, pursuant to a special resolution passed by the shareholders of the company on September 23, 2022 and a fresh certificate of incorporation consequent to change of name was issued by the RoC on October 17, 2022. Thereafter, name of the company was changed from ‘MCON Rasayan India Private Limited’ to Mcon Rasayan India Limited’ consequent to conversion of the company from private to public company, pursuant to a special resolution passed by the shareholders of the company on October 18, 2022, and a fresh certificate of incorporation consequent to conversion was issued by the RoC on December 12, 2022.
The company is in the business of manufacturing, marketing and selling of modern building materials and construction chemicals with a suite of many products which includes a range of construction materials and construction chemicals in both powder and liquid forms. Its powder products such as ready mix plaster, tile adhesives, block adhesives, wall putty, micro concrete & polymer mortar, engineering non-shrink grouts and floor hardeners are widely used in the building construction segment. Its liquid portfolio having products such as poly-urethane (PU) based liquid membrane, bonding agents, paints, anti-corrosive coatings, concrete admixtures and curing compounds. Its products are marketed and sold under the “MCON” brand.
The company has manufacturing plants, one each in Valsad and Navsari, Gujarat. Its plant at GIDC Sarigam, Valsad, Gujarat mainly manufactures admixtures, wall putty, tile adhesives, paints, concrete repair systems and waterproofing systems. Its other plant at Chikli, Navsari, Gujarat mainly manufactures readymix mortars, block adhesives and tile adhesives. Its manufacturing plants are situated at Valsad being the border of Maharashtra and Gujarat which is strategic location with respect to serving the western regional markets of the country. It has obtained certifications for manufacture and supply of construction & water proofing chemicals and paints in respect of its Unit I. It has also obtained IS 15477:2019 for Adhesive for use with ceramic, mosaic and stone tiles and IS 2645:2003 for Integral waterproofing compounds for cement, mortar and concrete. Further, it has obtained the Certificate of Compliance for its products, MCON Mortar, MCON NSA Grey Gold, MCON NSA Grey No Limit, MCON NSA White, MCON NSA White Gold, MCON NSA White No Limit and MCON LW, identified by the symbol “CE”.
Business area of the company
The company is engaged into the business of manufacturing and reselling of water proofing chemicals, construction materials and paints.
Products of the company
Awards, accreditations or recognition
History and milestones
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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