Madhur steel Unlisted Shares
About Madhur steel Unlisted Shares
Madhur Iron and Steel is a key player in India’s structural steel industry. With a strategic location near the Bhilai Steel Plant, the company ensures efficient distribution across western, northern, and central India. Its cost-efficient manufacturing and exclusive certifications make it a trusted supplier for infrastructure projects.
Business Divisions
Structural Steel Products
The company produces angles, channels, flats, and rods, essential for power transmission lines, bridges, buildings, and transportation infrastructure.
Infrastructure & Industrial Supply
Madhur Iron and Steel supplies high-quality steel products for power infrastructure, construction, and the automotive industry, meeting stringent quality standards.
Expansion Initiatives
The company is increasing production capacity, developing a new plant, and diversifying its product line with beams, columns, and round bars to cater to growing industry demands.
Financial Highlights
- Revenue Growth: Increased from ₹193 Cr (2023) to ₹239 Cr (2024), driven by higher demand and market expansion.
- Profitability Boost: PAT doubled from ₹6 Cr to ₹12 Cr, with Net Profit Margin rising from 3.11% to 5.02%.
- Operational Efficiency: EBITDA improved from ₹13 Cr to ₹24 Cr, reflecting better cost management and productivity.
- Stronger Margins: Gross Margins surged from 1.04% to 9.21%, while OPM increased from 6.74% to 10.04%.
- Higher Borrowings: Debt rose from ₹30 Cr to ₹58 Cr, funding expansion and capacity growth.
- Asset Expansion: Fixed Assets grew from ₹8 Cr to ₹14 Cr, supporting infrastructure development.
- Increased Reserves: Reserves climbed from ₹14 Cr to ₹26 Cr, strengthening financial stability.
Pros
- Strong Revenue Growth: Increased demand and expansion led to revenue rising from ₹193 Cr to ₹239 Cr, showcasing business strength and market penetration.
- Higher Profitability: PAT doubled from ₹6 Cr to ₹12 Cr, improving margins and enhancing financial stability for long-term growth.
- Operational Efficiency: EBITDA surged from ₹13 Cr to ₹24 Cr, reflecting better cost management, improved production processes, and optimized resource utilization.
Cons
- Rising Debt: Borrowings increased from ₹30 Cr to ₹58 Cr, which may increase interest costs and financial liabilities.
- Higher Material Costs: Cost of materials grew from ₹191 Cr to ₹217 Cr, potentially affecting profit margins if not controlled.
- Declining Trade Receivables: Dropped from ₹3 Cr to ₹2 Cr, which might indicate tighter credit policies but could also impact sales.
Key Details
| Share Name | Particulars |
|---|---|
| Madhur Steel Unlisted | ₹225 |
| Shares Price | Per Equity Share |
| Lot Size | 5,000 Shares |
| 52 Week High | ₹125 |
| 52 Week Low | ₹125 |
| Depository | NSDL & CDSL |
| PAN Number | AAHCM7572R |
| ISIN Number | INE0TO301014 |
| CIN | U51101CT2012PTC000189 |
| RTA | KFin Technologies |
| Fundamentals | Value |
|---|---|
| Market Cap (in Cr.) | ₹297.84 |
| P/E Ratio | 12.40 |
| P/B Ratio | 6.94 |
| Debt to Equity | 1.35 |
| ROE (%) | 29% |
| Book Value | ₹32.42 |
| EPS | ₹18.15 |
| Face Value | ₹10 |
| Total Shares | 1,32,37,200 |
Financials
| P&L Statement | 2024 | 2023 |
|---|---|---|
| Revenue | 239.00 | 193.00 |
| Cost of Material Consumed | 217.00 | 191.00 |
| Gross Margins (%) | 9.21 | 1.04 |
| Change in Inventory | -16.00 | -24.00 |
| Employee Benefit Expenses | 2.00 | 2.00 |
| Other Expenses | 12.00 | 11.00 |
| EBITDA | 24.00 | 13.00 |
| OPM (%) | 10.04 | 6.74 |
| Other Income | 0.30 | 1.00 |
| Finance Cost | 5.60 | 3.00 |
| D&A (Depreciation & Amort.) | 0.99 | 1.00 |
| EBIT | 23.01 | 12.00 |
| EBIT Margins (%) | 9.63 | 6.22 |
| PBT (Profit Before Tax) | 17.00 | 9.00 |
| PBT Margins (%) | 7.11 | 4.66 |
| Tax | 5.00 | 3.00 |
| PAT (Profit After Tax) | 12.00 | 6.00 |
| NPM (Net Profit Margin %) | 5.02 | 3.11 |
| EPS (Earnings Per Share) | ₹18.15 | ₹10.29 |
| Ratio | FY24 |
|---|---|
| Operating Margin | 10% |
| Net Profit Margin | 5% |
| Return on Equity | 29% |
| Debt-Equity | 1.35 |
| Current Ratio | 1.35 |
| Dividend Payout | 0% |
| Company | Madhur Steel | Rama Steel Tubes | Venus Pipes and Tubes |
|---|---|---|---|
| Market Cap (₹ Crores) | 165 | 1,545 | 2,664 |
| Profitability Margin (%) | 5% | 3% | 11% |
| ROCE (%) | 125% | 12% | 28% |
| ROE (%) | 29% | 10% | 24% |
| D/E Ratio | 1.35 | 0.27 | 0.37 |
| P/E Ratio | 12.72 | 67.50 | 28.30 |
| P/B Ratio | 3.86 | 4.37 | 5.52 |
| Book Value per Share (₹) | ₹32.42 | ₹2.26 | ₹237.00 |
| Assets | 2024 | 2023 |
|---|---|---|
| Fixed Assets | 14.00 | 8.00 |
| CWIP | 0.10 | 2.00 |
| Investments | 0.00 | 0.00 |
| Trade Receivables | 2.00 | 3.00 |
| Inventory | 94.00 | 56.00 |
| Other Assets | 19.90 | 11.00 |
| Total Assets | 130.00 | 80.00 |
| Liabilities | 2024 | 2023 |
|---|---|---|
| Share Capital | 6.61 | 5.83 |
| FV (Face Value) | 10 | 10 |
| Reserves | 26.00 | 14.00 |
| Borrowings | 58.00 | 30.00 |
| Trade Payables | 21.00 | 26.00 |
| Other Liabilities | 18.39 | 4.17 |
| Total Liabilities | 130.00 | 80.00 |
Promoters or Management
Frequently Asked Questions
Madhur steel raised 36 crore rupees by issuing 18 lakh shares at 200/- per share. This fund will be used to for funding current/future expansion plans and working capital requirements.
Madhur Iron and Steel has received a credit rating upgrade from CRISIL, moving from BBB- to BBB, which reflects the company’s strengthened financial position and improved outlook. Infomerics Rating Agency has also aligned its assessment with this upgrade, indicating a consistent positive trajectory in the company’s performance. These enhanced ratings are expected to increase Madhur Iron and Steel’s financing flexibility and enable better access to capital on more favorable terms.
Madhur Iron and Steel is actively progressing on the merger of its engineering unit with its core structural steel business. This strategic move is aimed at unlocking operational synergies and enhancing overall efficiency. In line with this development, the company also plans to adopt a new name that better reflects its expanded scope and the enhanced value it aims to deliver.
