During the quarter, Maan Aluminium recorded its highest quarterly PBDIT at ₹7.96 crores, accompanied by an operating profit to net sales ratio of 4.17%, the best in recent periods. The company’s PAT for the quarter reached ₹5.77 crores, with earnings per share (EPS) at ₹1.07, both figures representing quarterly peaks. However, the nine-month PAT stood at ₹12.44 crores, showing a contraction of 21.27% compared to previous periods. Net sales for the quarter were ₹191.08 crores, reflecting a decline of 9.5% against the average of the preceding four quarters. Additionally, the inventory turnover ratio for the half-year was at a low of 12.88 times, indicating slower movement of stock.
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Non-operating income contributed significantly to the profit before tax (PBT), accounting for 43.11% in the quarter, which may suggest reliance on income sources beyond core operations. The stock price closed at ₹139.60, down 2.10% from the previous close of ₹142.60, with intraday highs and lows of ₹144.90 and ₹137.10 respectively. Over the past 52 weeks, the share price has ranged between ₹75.51 and ₹154.90, reflecting notable volatility.
When compared with the broader market, Maan Aluminium’s stock returns have shown mixed results. The stock outperformed the Sensex over short and medium terms, with a 1-week return of 5.72% versus Sensex’s 0.96%, and a 1-month return of 6.16% against 0.86%. Year-to-date, the stock posted a 10.57% return compared to the Sensex’s 8.36%. However, over the last year, the stock recorded a negative return of 7.12%, contrasting with the Sensex’s positive 9.48%. Longer-term returns remain robust, with a 3-year return of 204.89% versus Sensex’s 37.31%, a 5-year return of 1459.78% compared to 91.65%, and a 10-year return of 3184.71% against 232.28% for the Sensex.
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The recent adjustment in Maan Aluminium’s financial trend parameter from negative to flat reflects a stabilisation in its quarterly performance, particularly in profitability metrics. However, the decline in net sales and the subdued inventory turnover ratio highlight ongoing operational challenges. The significant share of non-operating income in PBT suggests that core business activities may require further attention to sustain growth momentum.
Investors analysing Maan Aluminium should consider the company’s mixed financial signals alongside its historical outperformance relative to the Sensex over extended periods. The current market cap grade remains modest, and the Mojo score adjustment indicates a revision in evaluation rather than a directional shift. The stock’s recent price movements and sector dynamics in Non - Ferrous Metals warrant close monitoring as the company navigates its financial trajectory.
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