BSE: 590134 | NSE: MADRASFERT | Fertilizers | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Madras Fertilizers Ltd is a average quality company.
The key valuation ratios of Madras Fertilizers 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 Weak which suggest that the price of Madras Fertilizers Ltd is likely to Fall 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 % ⓘ | -5.3% | -15.7% | 24% | 12.3% | -1.5% | -4.7% | 57.8% | 46.5% | 79.4% | 19.3% | - |
| Value Creation Index ⓘ | NA | NA | 0.7 | NA | NA | NA | 3.1 | 2.3 | 4.7 | 0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,702 | 1,202 | 1,392 | 1,616 | 1,593 | 1,292 | 1,533 | 2,302 | 3,447 | 2,228 | 2,502 |
| Sales YoY Gr. | - | -29.4% | 15.8% | 16.1% | -1.4% | -18.9% | 18.6% | 50.2% | 49.7% | -35.4% | - |
| Adj EPS ⓘ | -8.8 | -8.5 | 0.2 | -3.7 | -8.1 | -7.8 | 0.2 | 10.1 | 11.5 | 2.6 | 4.9 |
| YoY Gr. | - | NA | NA | -1759.1% | NA | NA | NA | 4930% | 14.3% | -77.8% | - |
| BVPS (₹) ⓘ | -21.3 | -33.1 | -26.8 | -30.6 | -35.8 | -45.4 | -43.2 | -31.4 | -17.9 | -11.8 | -9.2 |
| Adj Net Profit ⓘ | -141 | -136 | 3.5 | -58.8 | -131 | -125 | 3.2 | 162 | 185 | 41.1 | 79 |
| Cash Flow from Ops. ⓘ | -64.7 | -19.3 | 220 | -150 | -22.6 | 104 | 492 | -317 | 687 | 164 | - |
| Debt/CF from Ops. ⓘ | -14.1 | -51 | 3.5 | -6.4 | -46.4 | 11.1 | 1.4 | -3.1 | 1 | 4.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 3% | 6.9% | 13.3% | -35.4% | ||||
| Adj EPS ⓘ | NA | NA | 133.6% | -77.8% | ||||
| BVPSⓘ | NA | NA | NA | NA | ||||
| Share Price | - | 35.7% | 48.5% | 15.7% | ||||
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 % ⓘ | 51.5 | 31.2 | -0.7 | 12.8 | 24.6 | 19.2 | -0.5 | -27 | -46.7 | -17.3 | -46.3 |
| Op. Profit Mgn % ⓘ | -1.8 | 0.6 | 5.8 | 1.5 | -0.1 | -0.1 | 8.8 | 10.8 | 9.6 | 4.7 | 7.3 |
| Net Profit Mgn % ⓘ | -8.3 | -11.4 | 0.3 | -3.6 | -8.2 | -9.7 | 0.2 | 7 | 5.4 | 1.8 | 3.1 |
| Debt to Equity ⓘ | -2.7 | -1.9 | -1.8 | -2 | -1.8 | -1.6 | -1 | -1.9 | -2.3 | -3.7 | - |
| Working Cap Days ⓘ | 283 | 328 | 249 | 236 | 272 | 288 | 187 | 167 | 127 | 143 | 91 |
| Cash Conv. Cycle ⓘ | -54 | -9 | 14 | -9 | -14 | 97 | 100 | 87 | 71 | 55 | -53 |
Sales growth is growing at healthy rate in last 3 years 13.28%
Net Profit is growing at healthy rate in last 3 years 133.62%
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at 4.79%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 4.9 | - |
| TTM Sales (₹ Cr.) | 2,502 | - |
| BVPS (₹.) ⓘ | -9.2 | - |
| Reserves (₹ Cr.) ⓘ | -310 | - |
| P/BV ⓘ | -10.06 | - |
| PE ⓘ | 19.02 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 76.00 / 134.00 |
| All Time Low / High (₹) | 3.25 / 134.00 |
| Market Cap (₹ Cr.) | 1,496 |
| Equity (₹ Cr.) | 161.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 17.4 |
| 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 | 1,702 | 1,202 | 1,392 | 1,616 | 1,593 | 1,292 | 1,533 | 2,302 | 3,447 | 2,228 |
| Operating Expenses ⓘ | 1,732 | 1,195 | 1,313 | 1,592 | 1,595 | 1,294 | 1,398 | 2,058 | 3,115 | 2,125 |
| Manufacturing Costs | 587 | 431 | 504 | 521 | 575 | 297 | 333 | 388 | 415 | 322 |
| Material Costs | 1,022 | 640 | 677 | 934 | 882 | 859 | 920 | 1,465 | 2,544 | 1,625 |
| Employee Cost | 93 | 90 | 97 | 99 | 101 | 97 | 101 | 103 | 106 | 102 |
| Other Costs ⓘ | 30 | 34 | 36 | 38 | 38 | 41 | 44 | 101 | 50 | 76 |
| Operating Profit ⓘ | -30 | 7 | 79 | 24 | -2 | -2 | 134 | 244 | 332 | 103 |
| Operating Profit Margin (%) | -1.8% | 0.6% | 5.7% | 1.5% | -0.1% | -0.1% | 8.8% | 10.6% | 9.6% | 4.6% |
| Other Income ⓘ | 18 | 23 | 38 | 47 | 18 | 12 | 7 | 31 | 14 | 44 |
| Interest ⓘ | 104 | 109 | 90 | 94 | 123 | 104 | 108 | 100 | 89 | 76 |
| Depreciation ⓘ | 18 | 18 | 21 | 22 | 23 | 32 | 31 | 9 | 10 | 10 |
| Exceptional Items ⓘ | 0 | -92 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | -50 |
| Profit Before Tax ⓘ | -135 | -190 | 4 | -45 | -130 | -125 | 3 | 166 | 249 | 12 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 63 | 6 |
| Profit After Tax | -135 | -190 | 4 | -45 | -130 | -125 | 3 | 162 | 185 | 6 |
| PAT Margin (%) | -7.9% | -15.8% | 0.3% | -2.8% | -8.1% | -9.7% | 0.2% | 7.1% | 5.4% | 0.2% |
| Adjusted EPS (₹) | -8.4 | -11.8 | 0.2 | -2.8 | -8.1 | -7.8 | 0.2 | 10.1 | 11.5 | 0.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 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 | -343 | -532 | -430 | -492 | -575 | -730 | -695 | -505 | -287 | -190 |
| Share Capital ⓘ | 162 | 162 | 162 | 162 | 162 | 162 | 162 | 162 | 162 | 162 |
| Reserves ⓘ | -505 | -694 | -592 | -654 | -737 | -892 | -857 | -668 | -449 | -352 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 556 | 598 | 342 | 511 | 573 | 641 | 122 | 422 | 119 | 153 |
| Long Term Debt | 197 | 166 | 136 | 107 | 79 | 51 | 26 | 9 | 0 | 0 |
| Short Term Debt | 359 | 432 | 206 | 404 | 495 | 589 | 96 | 413 | 119 | 153 |
| Trade Payables | 265 | 227 | 246 | 382 | 277 | 116 | 288 | 309 | 288 | 283 |
| Others Liabilities ⓘ | 878 | 959 | 1,072 | 1,181 | 1,293 | 1,391 | 1,476 | 1,685 | 1,795 | 1,766 |
| Total Liabilities ⓘ | 1,356 | 1,252 | 1,230 | 1,582 | 1,568 | 1,419 | 1,191 | 1,911 | 1,915 | 2,012 |
Fixed Assets | ||||||||||
| Gross Block | 951 | 963 | 203 | 203 | 211 | 320 | 329 | 338 | 349 | 365 |
| Accumulated Depreciation | 768 | 783 | 21 | 43 | 64 | 104 | 140 | 149 | 159 | 167 |
| Net Fixed Assetsⓘ | 183 | 180 | 182 | 160 | 146 | 216 | 189 | 189 | 190 | 198 |
| CWIP ⓘ | 15 | 15 | 22 | 26 | 31 | 3 | 18 | 14 | 13 | 25 |
| Investmentsⓘ | 0 | 0 | 135 | 149 | 198 | 180 | 203 | 251 | 337 | 455 |
| Inventories | 190 | 211 | 314 | 220 | 281 | 239 | 247 | 284 | 232 | 206 |
| Trade Receivables | 14 | 9 | 44 | 20 | 27 | 522 | 273 | 984 | 504 | 321 |
Cash Equivalents  ⓘ
| 18 | 32 | 2 | 27 | 37 | 133 | 80 | 32 | 399 | 564 |
| Others Assetsⓘ | 936 | 804 | 531 | 980 | 849 | 125 | 182 | 158 | 239 | 243 |
| Total Assets ⓘ | 1,356 | 1,252 | 1,230 | 1,582 | 1,568 | 1,419 | 1,191 | 1,911 | 1,915 | 2,012 |
| 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 ⓘ | -65 | -19 | 220 | -150 | -23 | 104 | 492 | -317 | 687 | 164 |
| PBT ⓘ | -135 | -190 | 4 | -45 | -130 | -125 | 3 | 167 | 249 | 12 |
| Adjustment ⓘ | 100 | 96 | 63 | 84 | 125 | 119 | 129 | 128 | 77 | 41 |
| Changes in Working Capital ⓘ | -30 | 74 | 153 | -189 | -18 | 110 | 360 | -612 | 420 | 116 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -58 | -5 |
| Cash Flow From Investing Activity ⓘ | -2 | -10 | -5 | -3 | -13 | -60 | -15 | 2 | 2 | -1 |
| Capex | -4 | -14 | -8 | -4 | -14 | -92 | -6 | -2 | -1 | -15 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | 3 | 3 | 1 | 1 | 32 | -10 | 3 | 3 | 14 |
| Cash Flow From Financing Activityⓘ | 62 | 44 | -245 | 178 | 45 | 56 | -527 | 265 | -320 | 19 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -33 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -29 | -28 | -19 | -21 | -45 | -37 | -46 | -38 | -24 | -16 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 124 | 73 | -226 | 199 | 91 | 94 | -481 | 303 | -297 | 35 |
| Net Cash Flow ⓘ | -5 | 15 | -30 | 25 | 10 | 100 | -50 | -50 | 369 | 182 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover Ratio | 1.1 | 0.92 | 1.13 | 1.16 | 1.01 | 0.87 | 1.17 | 1.48 | 1.8 | 1.13 |
| PAT to CFO Conversion(x) | N/A | N/A | 55 | N/A | N/A | N/A | 164 | -1.96 | 3.71 | 27.33 | Working Capital Days |
| Receivable Days | 1 | 3 | 7 | 7 | 5 | 78 | 95 | 100 | 79 | 68 |
| Inventory Days | 44 | 61 | 68 | 60 | 57 | 74 | 58 | 42 | 27 | 36 |
| Payable Days | 170 | 140 | 127 | 123 | 136 | 84 | 80 | 74 | 43 | 64 |
Madras Fertilizers (MFL) was incorporated on December 8, 1966 as a joint venture between GOI and AMOCO India incorporated of U.S.A (AMOCO) in accordance with the Fertilizer Formation Agreement executed on May 14, 1966 with equity contributions of 51% and 49% respectively. In accordance with the participation agreement between GOI, AMOCO and National Iranian Oil Company (NIOC), an undertaking of Government of Iran, NIOC acquired 50% of the shareholding of AMOCO in MFL on November 22, 1972. With this acquisition, shareholding of AMOCO and NIOC were at 24.5% each, with the balance 51% being held by GOI. Subsequently, on July 22, 1985, the shareholding of AMOCO was proportionately purchased by GOI and NIOC. As a result, GOI and NIOC shareholding was revised to 67.55% and 32.45% respectively. Subsequent to the issue of rights shares in 1994 for part-financing the project, the holding of GOI and NIOC stood at 69.78% and 30.22% respectively. MFL had an initial public offering of its shares in May 1997.
Business area of the company
The company is engaged in the manufacture of Ammonia, Urea, Complex Fertilizers and Biofertilizers. The company’s activities include marketing of these fertilizers and trading in Agro Chemicals in accordance with the corporate objective. It has been striving to develop and maintain an Organisational environment, that motivates the individual, encourages personal initiative, innovation and creativity. The company is also engaged in manufacturing Bio-fertilizers and marketing of eco-friendly Organic fertilizers and Neem Pesticides under the brand name “VIJAY”.
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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