MTAR Technologies Ltd - Stock Valuation and Financial Performance

BSE: 543270 | NSE: MTARTECH | Engineering | Small Cap

MTAR Technologies Share Price

1,621.50 2.55 0.16%
as on 05-Nov'24 15:48

DeciZen - make an informed investing decision on MTAR Technologies

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

MTAR Technologies stock performance -

mw4me loader
P/E Ratio (SA):
127.91
Market Cap:
4,983.1 Cr.
52-wk low:
1,495
52-wk high:
2,583.9

Is MTAR Technologies Ltd an attractive stock to invest in?

1. Is MTAR Technologies Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that MTAR Technologies Ltd is a average quality company.

2. Is MTAR Technologies Ltd undervalued or overvalued?

The key valuation ratios of MTAR Technologies Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is MTAR Technologies Ltd a good buy now?

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

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.
MTAR Technologies Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 0.1%3.1%-9.4%9.5%18.8%19.4%19.2%16%22.5%11.7%-
Value Creation
Index
-1.0-0.8-1.7-0.30.30.40.40.20.7-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 80.881.5101157184214246322573580574
Sales YoY Gr.-0.8%23.6%55.6%17.3%16.4%15.3%30.7%78.1%1.2%-
Adj EPS -1.80-6.52.313.310.91519.130.617.812.7
YoY Gr.-NA-21800%NA487.6%-17.6%37.5%27.3%59.8%-41.9%-
BVPS (₹) 747471.872.983.384.1155169201.8220.2227.7
Adj Net
Profit
-5.10.1-18.46.437.529.346.358.994.154.739
Cash Flow from Ops. 6.133.511.614.442.156.28.6-29.88.955.5-
Debt/CF from Ops. 80.82.51.40.70.52-3.216.13.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 24.5%25.9%33%1.2%
Adj EPS NA6%5.7%-41.9%
BVPS12.9%21.5%12.4%9.1%
Share Price - - -2.6% -34.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
-2.40-8.93.11712.713.211.816.58.45.7
Op. Profit
Mgn %
4.514.8-11.320.429.327.133.829.326.919.316.5
Net Profit
Mgn %
-6.30.1-18.24.120.413.718.818.316.49.46.8
Debt to
Equity
0.20.10.10.10.10.100.20.20.30.1
Working Cap
Days
71241,60432,610286247241277327322378159
Cash Conv.
Cycle
29325918213515515316420316823298

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 33.02%

Return on Equity has declined versus last 3 years average to 5.70%

Net Profit has been subdued in last 3 years 5.74%

Sales growth is not so good in last 4 quarters at -13.95%

Latest Financials - MTAR Technologies Ltd.

Standalone Consolidated
TTM EPS (₹) 12.7 12.5
TTM Sales (₹ Cr.) 574 574
BVPS (₹.) 227.7 227.4
Reserves (₹ Cr.) 670 669
P/BV 7.11 7.12
PE 127.91 129.37
From the Market
52 Week Low / High (₹) 1495.00 / 2583.85
All Time Low / High (₹) 870.00 / 2920.00
Market Cap (₹ Cr.) 4,983
Equity (₹ Cr.) 30.8
Face Value (₹) 10
Industry PE 48.8

Management X-Ray of MTAR Technologies:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *2.052.656.898.276.646.649.168.598.508.50
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of MTAR Technologies

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales8181101157184214246322573580
Operating Expenses 7969113125130156163228419468
Manufacturing Costs771524182221294154
Material Costs31245050637280116269301
Employee Cost 28343945445253719295
Other Costs 145966109121718
Operating Profit 112-123254588394154112
Operating Profit Margin (%) 1.7%14.8%-11.9%20.4%29.2%27.1%33.7%29.3%26.9%19.3%
Other Income 41112419206
Interest 875445771522
Depreciation 551111111213141823
Exceptional Items 0000100000
Profit Before Tax -71-27174246658214173
Tax -31-91121419213717
Profit After Tax -50-1963931466110456
PAT Margin (%) -5.7%0.2%-18.6%4.1%21.3%14.7%18.7%18.9%18.2%9.7%
Adjusted EPS (₹)-1.60.1-6.62.313.911.715.019.833.818.3
Dividend Payout Ratio (%)0%0%0%0%36%26%40%15%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 209209203206235225477520621677
Share Capital 28282828282731313131
Reserves 180181174177207198446489590646
Minority Interest0000000000
Debt4926292029291273115145
Long Term Debt0000007267897
Short Term Debt4926292029295473848
Trade Payables442114631355721870
Others Liabilities 4518,353484635626378109114
Total Liabilities 30618,5913012853053465867281,0631,006

Fixed Assets

Gross Block203209257264198203227271371442
Accumulated Depreciation58631011123648607589110
Net Fixed Assets145146156152162155167196282332
CWIP 888261211446368
Investments 000000062347
Inventories533732424175103170386347
Trade Receivables16203949506277136208146
Cash Equivalents 871091123191673151
Others Assets7618,3745831351938525856
Total Assets 30618,5913012853053465867281,0631,006

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 634121442569-30955
PBT -71-27174246658214173
Adjustment 1411157161517142842
Changes in Working Capital -12125-7-63-62-108-128-38
Tax Paid 01-1-3-9-7-12-18-32-21
Cash Flow From Investing Activity -1-6-7-1-33-12-22-145-88-54
Capex -2-6-7-2-24-12-23-91-106-90
Net Investments 0-100-9-1-1-572737
Others 11111114-9-1
Cash Flow From Financing Activity 3-30-5-4-7-41180543225
Net Proceeds from Shares 000000211000
Net Proceeds from Borrowing 00000012375637
Interest Paid 0-7-5-4-6-6-6-6-15-22
Dividend Paid 0000-10-17-8-1800
Others 3-23009-18-2842-910
Net Cash Flow 8-2-1923167-121-4727
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)-2.190.09-9.113.1417.813.6113.1312.2218.258.67
ROCE (%)0.133.09-9.49.4618.8219.4219.2116.0222.5311.7
Asset Turnover Ratio0.250.010.010.540.620.660.530.490.640.56
PAT to CFO Conversion(x)N/AN/AN/A2.331.081.810.2-0.490.090.98
Working Capital Days
Receivable Days72791021009996103121110112
Inventory Days234200120848299132155177231
Payable Days3061921275792149144187175

MTAR Technologies Ltd Stock News

MTAR Technologies Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of MTAR Technologies on 05-Nov-2024 15:48 is ₹1,621.5.
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 05-Nov-2024 15:48 the market cap of MTAR Technologies stood at ₹4,983.1.
The latest P/E ratio of MTAR Technologies as of 05-Nov-2024 15:48 is 127.9.
The latest P/B ratio of MTAR Technologies as of 05-Nov-2024 15:48 is 7.11.
The 52-week high of MTAR Technologies is ₹2,583.9 and the 52-week low is ₹1,495.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of MTAR Technologies is ₹574.2 ( Cr.) .

About MTAR Technologies Ltd

MTAR Technologies is a leading precision engineering solutions company engaged in the manufacture of mission critical precision components with close tolerances (5-10 microns), and in critical assemblies, to serve projects of high national importance, through its precision machining, assembly, testing, quality control, and specialized fabrication competencies, some of which have been indigenously developed and manufactured. It primarily serves customers in the clean energy, nuclear and space and defence, sectors.

Since inception, it has strived to grow continually, contributing to the Indian civilian nuclear power programme, Indian space programme, Indian defence and aerospace sector, as well as to the global clean energy sector and the global defence and aerospace sector. Over the years, it has also developed import substitutes such as ball screws and water lubricated bearings that are specialized and used in the sectors it caters to. The engineering capability of the company, evolved over decades, has enabled it to consistently offer quality complex precision manufactured components and assemblies, within stipulated timelines and at reasonable cost in most cases, allowing it to forge a robust relationship with its customers.

The company currently operates through seven manufacturing facilities, including an export-oriented unit (EOU). These manufacturing facilities, each of which is situated in Hyderabad, Telangana, employ advanced equipment to undertake precision machining, assembly, testing and quality control, specialized fabrication, brazing and heat treatment, and other specialized processes, leading to the company being a one-stop solutions company for its customers. Over the years, it has made investments in processes, infrastructure and systems, and in specialized training to its technical team to become a leading player in nuclear and space and defence sectors. It has also implemented various information technology solutions including for assisting in its designing and manufacturing operations, and enterprise resource planning (ERP) solutions to integrate key areas of its operations.

Business area of the company

The company develops and manufactures a wide range of mission critical assemblies and precision components with close tolerances (5-10 microns), through its precision machining, assembly, and specialized fabrication facilities, for onward usage by its customers in the clean energy, nuclear, and space and defence sectors in India, and abroad.

Major events and milestones

  • 1999: Incorporation of the company upon its conversion from a partnership firm to a private limited company.
  • 1999: Commencement of manufacture of base shroud and fin assembly and pneumatic components for use in flight systems.
  • 2003: Manufacture of control and safety red drive mechanism and diverse safety rod drive mechanism for IGCAR.
  • 2008: Manufacture of grid plates for a 500 mega-watt prototype fast breeder reactor.
  • 2012: Manufacture of power units for Bloom Energy.
  • 2018: Commencement of defence exports by company.

Awards, accreditations or recognitions

  • 2002: The Company was awarded the ‘Award for Excellence in Aerospace Indigenisation’ by the Society of Indian Aerospace Technologies and Industries for the outstanding contributions made by company towards the indigenisation of machining of critical components for ‘Kaveri’ engines.
  • 2004: The company was awarded the ‘INS Industrial Excellence Award’ by the Indian Nuclear Society for the contributions made by the company in the nuclear field by undertaking critical development jobs.
  • 2005: The company was awarded the ‘Defence Technology Absorption Award’ by the Defence Research and Development Organisation, in recognition of the outstanding contribution made by the Company in technology absorption in the area of Agni missiles.
  • 2018: The company was awarded the ‘Best Quality Supplier Award’ by the helicopter division of Hindustan Aeronautics Limited, at the Business Partners Quality Meet, 2018.
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