Maithan Alloys Ltd


(Dr. TarunDS) #23

UFR300916-MAL.PDF (588.0 KB)


#24

What is happening here, anyone any clue?

BK Agarwala, the mastermind behind all of Maithan Success is leaving without any public reason. The shareholding of his and related family members also getting changed from promoters to public.

Does he plan to open another company or he is heading to another listed firm of the group?

Still the share price is outperforming.

If anyone can join the EGM or have any clue on the background story, kindly share.


(Sarabjeet Singh) #25

I guess stock performance is due to rally in all metal stocks… lets see what Q3 number they present today.


#26

Company suspended the production due to high cost of raw material in November and yet to fully come back in production for Andhra plant destroyed last year.


#27

Company came out with amazing set of numbers EPS of Rs23 for the quarter can one believe it? Still the shares rather than be locked at UC have corrected from day’s high and closing the day with minimal gains.

Some story is cooking on the counter. It would have been great if they could hold a press conference to explain the results in detail.

Edit: They means management of the company


#28

http://corporates.bseindia.com/xml-data/corpfiling/AttachLive/C02214B5_D63C_4A94_8C78_C0DD8C3859AA_123156.pdf


(Sarabjeet Singh) #29

I got a query regarding results,
since the company has been reporting only stanalone results, will it take into account the entire year revenue from subsidiaries in Q4 result ?
That way Q4 will be huge, isn’t it ?


(kaustubhkale) #30

It does not work that way. Consolidation happens on a quarter basis only, even though consolidated results might not be declared.


#31

Does not have any major subsidiary so results won’t be much different.


(Sarabjeet Singh) #32

Shares price could be subdued post wonderful results due to ferro alloy’s price off their peak they hit in Jan… Maybe…


(Sarabjeet Singh) #33

I was going through several year ARs however could not find the production numbers (quantity) for each of following products that company manufactures

Ferro Silicon
Silico Manganese
Ferro Manganese

Has someone got any info about them ?


(Sarabjeet Singh) #34

Rally in Silion Manganese and Ferro Manganese seems to be fizzling out. Though price of Major raw material (Manganese) has also come down significantly due to over supply. Not sure how margins of Maithan would be impacted. Need to analyze some more data for last few quarters

Not sure if today’s fall (12 %) in stock has anything to do with this.


(Tarun_1984) #35

Thanks for your analysis dear Zoro99…Can you please let me know where have you gathered this data from…I heard from my broker that there was some “rumor” of IT raid that took it down.


(Sarabjeet Singh) #36

Data is from steelmint.com


(Tarun_1984) #37

Thanks zoro, have mailed the Company CS to seek clarity about the rumor


(cool_gaurav) #38

Hi Tarun,

I just talked to CS & he confirmed that there is no Income tax raid, just rumour.


(Tarun_1984) #39

Many Thanks Gaurav, your pro activeness is much appreciated…Just got an email from CS…

From: Rajesh Shah [email protected]
Sent: Saturday, March 4, 2017 4:57 AM
Subject: RE: Extremely Urgent Clarification Sought

Dear Sir

There is no substance in the market rumour.

Regards
Rajesh K Shah


(Sarabjeet Singh) #40

Got a response for manufacturing capacity of different products from company representative

The three variants of Ferro Alloys manufactured are ‎Ferro Manganese, 
Silico Manganese and Ferro Silicon. The furnaces of the company are 
compatible to manufacture any of the three products depending on market 
dynamics. As such the product can be switched in any of the furnaces at 
short notice. ‎Thus the capacity of the plant is mentioned as that of 
Ferro Alloys. 

So the total capacity should matter and based on demand they can alter the production numbers…

Makes it really difficult to say whether company is doing good or bad right now based on the prices of its Ferro Alloys as we will not know the ratio of production numbers.


#41

Excellent set of results, sales down a bit in Q4 significant set of margin on back on power subsidy by various state govt’s and better capacity management backed by stable raw material prices. http://corporates.bseindia.com/xml-data/corpfiling/AttachLive/e1af1cf2-eed5-42f0-a497-77794919104a.PDF

Unfortunately, stock price showed a negative return on closing basis.


(Sarabjeet Singh) #42

True, numbers are too good. But like last quarter… stock price is not matching the numbers :frowning:

Maybe Mr.Market is foreseeing something which we don’t know for now… rest time will tell.