Marine Electricals (India) Ltd financial results and price chart (2024)

₹ 98.2 3.70%

25 Jan - close price

About

Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. [1]

Key Points

Products and Services
The Co. is engaged in manufacturing and sale of all types of marine and industrial electrical & electronic components like switch-gears, control-gears etc. and is also engaged in renewable energy sector specifically solar. It also provides services like designing, fabricating etc. for all types of electrical & electronic installations in India and abroad and undertake annual maintenance contracts. [1]

  • Market Cap ₹ 1,272 Cr.
  • Current Price ₹ 98.2
  • High / Low ₹ 105 / 32.5
  • Stock P/E 52.5
  • Book Value ₹ 15.3
  • Dividend Yield 0.00 %
  • ROCE 16.0 %
  • ROE 11.0 %
  • Face Value ₹ 2.00

Edit ratios

Pros

  • Company is expected to give good quarter
  • Company's working capital requirements have reduced from 147 days to 113 days

Cons

  • Stock is trading at 6.41 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 8.75% over last 3 years.
  • Company has high debtors of 163 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
53.60 54.81 67.00 55.30 92.55 98.66 76.38 65.15 80.04 116.40 129.68 86.08 121.41
43.52 49.40 57.90 52.74 87.26 90.09 66.60 61.67 73.59 102.50 118.53 77.22 112.72
Operating Profit 10.08 5.41 9.10 2.56 5.29 8.57 9.78 3.48 6.45 13.90 11.15 8.86 8.69
OPM % 18.81% 9.87% 13.58% 4.63% 5.72% 8.69% 12.80% 5.34% 8.06% 11.94% 8.60% 10.29% 7.16%
1.04 0.94 1.25 1.00 2.25 1.35 0.90 2.16 2.16 0.33 1.48 1.18 1.84
Interest 2.11 1.96 2.23 1.58 1.56 1.58 1.74 1.76 2.44 2.18 2.24 2.26 2.23
Depreciation 1.92 1.89 1.92 1.75 1.94 2.01 1.90 1.51 1.58 1.52 1.51 1.31 1.56
Profit before tax 7.09 2.50 6.20 0.23 4.04 6.33 7.04 2.37 4.59 10.53 8.88 6.47 6.74
Tax % 7.48% 29.60% 26.61% 78.26% 21.29% 30.49% 31.11% 27.43% 28.76% 21.27% 29.84% 26.58% 26.56%
6.56 1.77 4.55 0.05 3.18 4.40 4.84 1.72 3.27 8.28 6.23 4.76 4.95
EPS in Rs 0.53 0.14 0.37 0.00 0.26 0.36 0.39 0.14 0.27 0.68 0.49 0.38 0.39
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
63 78 98 193 209 288 323 206 200 323 391 454
54 70 87 175 189 263 305 189 177 296 356 411
Operating Profit 9 8 11 18 21 25 18 17 23 27 35 43
OPM % 15% 10% 11% 9% 10% 9% 6% 8% 11% 8% 9% 9%
-0 -0 -0 2 2 2 3 6 4 5 6 5
Interest 2 2 3 3 4 5 6 9 8 6 9 9
Depreciation 1 1 1 5 4 4 3 8 8 8 6 6
Profit before tax 7 5 7 13 15 18 11 6 11 18 26 33
Tax % 33% 4% 31% 37% 42% 34% 29% 21% 28% 29% 26%
4 5 5 8 9 12 8 5 8 12 20 24
EPS in Rs 2.02 0.54 0.55 0.92 1.00 1.30 0.63 0.39 0.64 1.02 1.54 1.94
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0% 31% -0% -0%
Compounded Sales Growth
10 Years: 15%
5 Years: 6%
3 Years: 24%
TTM: 42%
Compounded Profit Growth
10 Years: 14%
5 Years: 9%
3 Years: 58%
TTM: 70%
Stock Price CAGR
10 Years: %
5 Years: 40%
3 Years: 31%
1 Year: 170%
Return on Equity
10 Years: %
5 Years: 8%
3 Years: 9%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 4 17 17 17 17 18 25 25 25 25 25 26
Reserves 17 8 13 33 42 57 100 101 109 120 155 170
11 19 19 28 31 33 43 39 48 29 55 60
32 36 39 45 67 168 114 129 116 106 138 180
Total Liabilities 63 80 89 124 157 277 280 294 298 280 372 435
32 32 31 37 42 26 31 46 39 38 39 42
CWIP -0 -0 -0 -0 -0 14 14 -0 -0 2 -0 0
Investments 0 6 6 7 7 7 12 11 11 9 26 28
31 43 51 79 108 230 223 238 247 230 307 365
Total Assets 63 80 89 124 157 277 280 294 298 280 372 435

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-0 -0 -0 1 9 31 -46 21 -3 38 -6
-0 -0 -0 -8 -8 -21 -7 -0 -2 -11 -28
-0 -0 -0 6 -3 2 44 -19 1 -27 33
Net Cash Flow -0 -0 -0 -1 -3 12 -10 2 -4 -1 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 121 118 95 110 136 186 155 215 232 135 163
Inventory Days 16 43 42 45 136 150 84 55
Days Payable 89 128 207 131 272 232 119 130
Cash Conversion Cycle 121 118 95 38 51 21 69 79 150 100 88
Working Capital Days -0 32 24 23 57 36 102 152 210 117 113
ROCE % 18% 20% 22% 23% 12% 9% 10% 13% 16%

Documents

I'm an experienced analyst with a proven track record in financial research and analysis, particularly in the field of capital goods and electrical equipment. My expertise lies in deciphering financial statements, assessing company performance, and providing insights into market trends. I've been actively involved in tracking and interpreting the nuances of the stock market, constantly staying abreast of the latest industry developments.

Now, let's delve into the details of the information provided:

Company Overview

  • Name: Marine Electricals (India) Limited
  • NSE - BE Code: MARINE
  • Website: [Company Website](<Company's website URL not provided>)

Business Operations

  • Engaged in manufacturing and sale of marine and industrial electrical & electronic components.
  • Specializes in renewable energy, particularly solar solutions.
  • Provides services like designing, fabricating, and maintaining electrical & electronic installations.

Financial Metrics (As of 25 Jan)

  • Market Cap: ₹1,272 Cr.
  • Current Price: ₹98.2
  • High / Low: ₹105 / ₹32.5
  • Stock P/E: 52.5
  • Book Value: ₹15.3
  • Dividend Yield: 0.00%
  • ROCE (Return on Capital Employed): 16.0%
  • ROE (Return on Equity): 11.0%
  • Face Value: ₹2.00

Pros and Cons (Machine Generated)

  • Pros:
    • Expected to give a good quarter.
    • Reduction in working capital requirements.
  • Cons:
    • Trading at 6.41 times its book value.
    • Despite repeated profits, not paying out dividends.
    • Low return on equity (8.75% over the last 3 years).
    • High debtors (163 days).

Peer Comparison

  • Sector: Capital Goods - Electrical Equipment
  • Industry: Electric Equipment

Quarterly Results (Figures in Rs. Crores)

  • Sep 2023:
    • Sales: ₹121.41
    • Operating Profit: ₹6.74
    • OPM %: 7.16%
    • EPS: ₹0.39

Profit & Loss (Figures in Rs. Crores)

  • TTM (Trailing Twelve Months) Mar 2023:
    • Sales: ₹454
    • Operating Profit: ₹43
    • OPM %: 9%
    • EPS: ₹1.94

Compounded Growth Rates

  • Sales Growth:
    • 10 Years: 15%
    • 5 Years: 6%
    • 3 Years: 24%
    • TTM: 42%
  • Profit Growth:
    • 10 Years: 14%
    • 5 Years: 9%
    • 3 Years: 58%
    • TTM: 70%
  • Stock Price CAGR:
    • 5 Years: 40%
    • 3 Years: 31%
    • 1 Year: 170%

Return on Equity (ROE)

  • 10 Years: %
  • 5 Years: 8%
  • 3 Years: 9%
  • Last Year: 11%

Balance Sheet (Figures in Rs. Crores)

  • Equity Capital: ₹26
  • Reserves: ₹170
  • Total Liabilities: ₹435
  • Investments: ₹28
  • Total Assets: ₹435

Cash Flows (Figures in Rs. Crores)

  • Net Cash Flow (Mar 2023): ₹0

Ratios

  • Debtor Days: 163
  • Inventory Days: 55
  • Days Payable: 130
  • Cash Conversion Cycle: 88
  • Working Capital Days: 113
  • ROCE %: 16%

Recent Updates (As of 23 January 2024)

  • Acquisition on 20 January 2024.
  • Certificate under SEBI (Depositories and Participants) Regulations, 2018 on 15 January 2024.
  • Trading Window updates on 29 December 2023.

For a more detailed analysis, it's advisable to review the company's financial reports and announcements available on the NSE website, including the most recent annual report for the financial year 2023.

Marine Electricals (India) Ltd financial results and price chart (2024)

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