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Modi Rubber
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Incorporated in Feb.'71, Modi Rubber (MRL), a B K Modi Group Company, manufactures automobile tyres. It has entered into a technical collaboration with the German tyre major, Continental Aktiengesellschaft, to manufacture steel radial tyres for trucks. The company has a state-of-the-art plant at Modipuram, which is one of the most modern tyre manufacturing plants in Asia.
The Company was earlier engaged in manufacture of automotive tyres, tubes, flaps and other allied products in its plants set-up in 1974 at Modipuram, Meerut and Modinagar. Pursuant to the BIFR Scheme, Modinagar Plant was with the Company for carrying out its industrial activities. However, Modinagar Plant of the Company was under the Seal of Official Liquidator (OL) attached to the Allahabad High Court appointed by Allahabad High Court in 'Punjab National Bank Vs Modi Export Processors Ltd,' as the Company had taken Industrial Shed and land on perpetual lease from Modi Export Processors Ltd, on which Company installed its Plant & Machinery for Modinagar Plant. The Company filed Special Appeal with Allahabad High Court for re-possession from the OL which was pending for final adjudication before the Hon'ble High Court. Further, the Company implemented provisions of BIFR Scheme.
The company has a 12.4% market share and is doing well on the export front. It has also won the CAPEXIL export award for its excellent export performance.
MRL exports to countries like Vietnam, the Philippines, Singapore, the US, the UK, Bangladesh, Afghanistan, Syria, Sri Lanka and the Latin American countries. However exports to Pakistan and Afganistan received a set back due to political condition and a stiff competition from China. The company has set up the facilities for manufacture of automobile tubes at Partapur, UP.
The company expansion plans for manufacture of radial tyres for passenger cars and light commercial vehicles with latest technology from collaborator has been very supportive. The company has been successful in launching new range of Truck & LCV tyres as well as premium tractor tyres which are finding better acceptance in the market. It has introduced a number of new tyres for super heavy and heavy load areas, under the brand name Multilife 2000 and Marathon 2000. The company is planning to tap normal load areas like South India and part of West Zone in India with upgraded technology tyres, to further increase its market share in these regions.
In a move that would aid the existing promoters of the company in coming up with an open offer for buying out the 44% stake of the financial institutions in the company, the promoters have spoken to various NRI investors to bring in investments to the tune of $8-10 million, the open offer by purchasing a maximum of 52.58 lakh shares representing 21% of the company's paid up equity. The proposal is awaiting a final approval from the Industry Minister.
During 2008-09, Board for Industrial & Financial Reconstruction (BIFR) sanctioned a Rehabilitation Scheme for the revival of the Company on April 21, 2008. Pursuant to Rehabilitation Scheme, the business operations of Modipuram and Partapur Plants were vested in M/s Modi Tyres Company Pvt. Ltd. (MTCPL) a wholly owned subsidiary of MRL from March 31, 2008. As a result, Modipuram and Partapur Plants commenced their commercial production since 2009. Modi Tyre Factory (MTF)-Modinagar Plant which manufactures tyres other than Truck & Buses was set up by the Company and accordingly, was taken from Modi Export Processors Ltd.( MEPL). MEPL was under liquidation and an Official Liquidator (OL) was appointed by an Order of the Allahabad High Court.
Modi Rubber share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Market capitalization of Modi Rubber indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Modi Rubber is valued compared to its competitors.
Modi Rubber PE ratio helps investors understand what is the market value of each stock compared to Modi Rubber 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
The PEG ratio of Modi Rubber evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Return on Equity (ROE) measures how effectively Modi Rubber generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Return on Capital Employed (ROCE) evaluates the profitability of Modi Rubber in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Total debt of Modi Rubber shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
The Debt-to-Equity (DE) ratio of Modi Rubber compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
CAGR shows the consistent growth rate of Modi Rubber over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Technical analysis of Modi Rubber helps investors get an insight into when they can enter or exit the stock. Key components of Modi Rubber Technical Analysis include:
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Modi Rubber shares often struggle to rise above due to selling pressure.
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Modi Rubber ’s financial health and profitability.
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
The financials of Modi Rubber provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
The profit and loss statement of Modi Rubber highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Modi Rubber .
The balance sheet presents a snapshot of Modi Rubber ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
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