NSEI:TMRVL

Stock Analysis Report

Mandhana Retail Ventures

Executive Summary

The Mandhana Retail Ventures Limited designs, manufactures, retails, markets, and distributes men’s and women’s wear, and accessories under the Being Human brand name in India and internationally.

Rewards

Trading at 74.2% below its fair value

Risk Analysis

Earnings have declined by -50.97% per year over past 5 years

Does not have a meaningful market cap (₹261M)

Highly volatile share price over past 3 months



Snowflake Analysis

Excellent balance sheet and fair value.


Similar Companies

Share Price & News

How has Mandhana Retail Ventures's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TMRVL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-0.4%

TMRVL

2.0%

IN Specialty Retail

0.2%

IN Market


1 Year Return

-65.2%

TMRVL

-19.5%

IN Specialty Retail

7.2%

IN Market

Return vs Industry: TMRVL underperformed the Indian Specialty Retail industry which returned -20.8% over the past year.

Return vs Market: TMRVL underperformed the Indian Market which returned 6.7% over the past year.


Shareholder returns

TMRVLIndustryMarket
7 Day-0.4%2.0%0.2%
30 Day-2.1%2.9%2.1%
90 Day-6.0%-2.2%5.7%
1 Year-65.2%-65.2%-19.2%-19.5%9.2%7.2%
3 Year-94.0%-94.0%-15.4%-16.2%33.1%26.2%
5 Yearn/a26.8%23.8%35.6%23.5%

Price Volatility Vs. Market

How volatile is Mandhana Retail Ventures's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Mandhana Retail Ventures undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TMRVL (₹11.75) is trading below our estimate of fair value (₹45.55)

Significantly Below Fair Value: TMRVL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: TMRVL is unprofitable, so we can't compare its PE Ratio to the Specialty Retail industry average.

PE vs Market: TMRVL is unprofitable, so we can't compare its PE Ratio to the Indian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TMRVL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TMRVL is good value based on its PB Ratio (0.4x) compared to the IN Specialty Retail industry average (1x).


Next Steps

Future Growth

How is Mandhana Retail Ventures forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

8.7%

Forecasted Retail industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Mandhana Retail Ventures has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Mandhana Retail Ventures performed over the past 5 years?

-51.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TMRVL is currently unprofitable.

Growing Profit Margin: TMRVL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TMRVL is unprofitable, and losses have increased over the past 5 years at a rate of -51% per year.

Accelerating Growth: Unable to compare TMRVL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TMRVL is unprofitable, making it difficult to compare its past year earnings growth to the Specialty Retail industry (-6.5%).


Return on Equity

High ROE: TMRVL has a negative Return on Equity (-11.97%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Mandhana Retail Ventures's financial position?


Financial Position Analysis

Short Term Liabilities: TMRVL's short term assets (₹723.0M) exceed its short term liabilities (₹574.9M).

Long Term Liabilities: TMRVL's short term assets (₹723.0M) exceed its long term liabilities (₹341.5M).


Debt to Equity History and Analysis

Debt Level: TMRVL's debt to equity ratio (13.7%) is considered satisfactory.

Reducing Debt: TMRVL's debt to equity ratio has reduced from 92.3% to 13.7% over the past 5 years.

Debt Coverage: TMRVL's debt is well covered by operating cash flow (162%).

Interest Coverage: Insufficient data to determine if TMRVL's interest payments on its debt are well covered by EBIT.


Balance Sheet

Inventory Level: TMRVL has a high level of physical assets or inventory.

Debt Coverage by Assets: TMRVL's debt is covered by short term assets (assets are 8.7x debt).


Next Steps

Dividend

What is Mandhana Retail Ventures's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%0.6%markettop25%2.3%industryaverage0.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate TMRVL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TMRVL's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TMRVL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TMRVL's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TMRVL's dividend in 3 years as they are not forecast to pay a notable one for the Indian market.


Next Steps

Management

What is the CEO of Mandhana Retail Ventures's salary, the management and board of directors tenure and is there insider trading?

3.3yrs

Average management tenure


CEO

Manish S. Mandhana (51yo)

2.8yrs

Tenure

₹9,600,000

Compensation

Mr. Manish S. Biharilal Mandhana has been Chief Executive Officer of The Mandhana Retail Ventures Limited since April 1, 2017. Mr. Mandhana has over 13 years of experience in the textile industry. He has g ...


CEO Compensation Analysis

Compensation vs Market: Manish S.'s total compensation ($USD135.47K) is above average for companies of similar size in the Indian market ($USD50.75K).

Compensation vs Earnings: Manish S.'s compensation has been consistent with company performance over the past year.


Management Age and Tenure

3.3yrs

Average Tenure

48yo

Average Age

Experienced Management: TMRVL's management team is considered experienced (3.3 years average tenure).


Board Age and Tenure

3.3yrs

Average Tenure

59yo

Average Age

Experienced Board: TMRVL's board of directors are considered experienced (3.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Manish S. Mandhana (51yo)

    Chief Executive Officer

    • Tenure: 2.8yrs
    • Compensation: ₹9.60m
  • Jagdish Pamwani (54yo)

    Vice President of Sales

    • Sangeeta Mandhana (49yo)

      MD & Director

      • Tenure: 3.4yrs
      • Compensation: ₹10.02m
    • Ritesh Bhardwaj (40yo)

      Vice President of Finance

      • Tenure: 3.8yrs
    • Priyavrat Mandhana (30yo)

      Executive Director

      • Tenure: 3.4yrs
      • Compensation: ₹10.02m
    • Kunal Mehta (48yo)

      Vice President of Business Development & Marketing

      • Tenure: 3.8yrs
    • Virendra Varma (36yo)

      Compliance Officer & Company Secretary

      • Tenure: 3.3yrs
      • Compensation: ₹1.16m
    • Pankaj Gharat

      Chief Financial Officer

      • Tenure: 0.5yrs
    • Mustafa Kanchwala

      Vice President of Operations & Business Development

      • Deepali Mathur

        Head - Human Resource


        Board Members

        • Ram Pradeep (68yo)

          Non Executive & Independent Director

          • Tenure: 3.3yrs
          • Compensation: ₹650.00k
        • Kiran Vaidya (59yo)

          Non Executive & Independent Director

          • Tenure: 3.3yrs
          • Compensation: ₹600.00k
        • Sangeeta Mandhana (49yo)

          MD & Director

          • Tenure: 3.4yrs
          • Compensation: ₹10.02m
        • Priyavrat Mandhana (30yo)

          Executive Director

          • Tenure: 3.4yrs
          • Compensation: ₹10.02m
        • Pradip Dubhashi (71yo)

          Non-Executive & Independent Chairman

          • Tenure: 3.3yrs
          • Compensation: ₹625.00k

        Company Information

        The Mandhana Retail Ventures Limited's company bio, employee growth, exchange listings and data sources


        Key Information

        • Name: The Mandhana Retail Ventures Limited
        • Ticker: TMRVL
        • Exchange: NSEI
        • Founded: 2011
        • Industry: Apparel Retail
        • Sector: Retail
        • Market Cap: ₹259.471m
        • Shares outstanding: 22.08m
        • Website: https://www.mandhanaretail.com

        Number of Employees


        Location

        • The Mandhana Retail Ventures Limited
        • 006-008, Peninsula Centre
        • Dr. S.S. Rao Road
        • Mumbai
        • Maharashtra
        • 400012
        • India

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        TMRVLNSEI (National Stock Exchange of India)YesEquity SharesININRDec 2016
        540210BSE (Mumbai Stock Exchange)YesEquity SharesININRDec 2016

        Biography

        The Mandhana Retail Ventures Limited designs, manufactures, retails, markets, and distributes men’s and women’s wear, and accessories under the Being Human brand name in India and internationally. The company provides shirts and jackets, skirts, blouses, and sportswear. As of March 31, 2019, it operated 431 points of sale units in 14 countries, as well as 203 store-in-stores, 3 e-commerce partners, 36 exclusive brand outlets, and 23 franchise stores. The company was formerly known as Mandhana Retail Ventures Limited and changed its name to The Mandhana Retail Ventures Limited in September 2016. The company was founded in 2011 and is headquartered in Mumbai, India. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/21 13:06
        End of Day Share Price2020/01/20 00:00
        Earnings2019/09/30
        Annual Earnings2019/03/31


        Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.