Pix Transmission Ltd

About [ edit ]

PIX Transmissions is the leading manufacturer of Belts and related mechanical Power Transmission products in India. The Company features state-of-the-art Belt manufacturing units as well as a completely automated Rubber Mixing facility in Nagpur.

  • Market Cap 460 Cr.
  • Current Price 337
  • High / Low 415 / 78.0
  • Stock P/E 9.53
  • Book Value 188
  • Dividend Yield 0.59 %
  • ROCE 13.8 %
  • ROE 12.2 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 51.14% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 7.65% over past five years.
  • Company has a low return on equity of 12.83% for last 3 years.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
80 69 72 74 75 70 72 79 77 55 95 103
62 53 61 60 59 56 59 65 63 41 64 75
Operating Profit 18 16 11 13 17 14 13 14 14 14 31 28
OPM % 23% 23% 16% 18% 22% 21% 18% 17% 19% 25% 32% 27%
Other Income 4 3 4 -1 1 1 2 2 3 2 1 2
Interest 3 2 3 3 3 3 3 3 3 2 2 2
Depreciation 4 4 4 4 4 4 4 4 6 5 5 5
Profit before tax 15 12 8 6 11 8 7 9 9 8 24 23
Tax % 32% 14% 28% 31% 29% 29% -2% 25% 24% 31% 26% 23%
Net Profit 10 11 6 4 8 6 8 7 7 6 18 18
EPS in Rs 7.54 7.89 4.48 3.05 5.54 4.35 5.57 4.87 4.89 4.22 13.34 12.93
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
171 164 214 211 226 187 196 208 223 239 276 283 331
143 127 175 166 187 155 161 174 178 184 219 227 243
Operating Profit 28 37 38 45 39 33 35 34 45 55 58 56 88
OPM % 16% 23% 18% 21% 17% 17% 18% 16% 20% 23% 21% 20% 26%
Other Income -5 0 10 2 140 4 3 3 6 5 7 7 7
Interest 14 19 22 26 20 17 20 18 16 14 12 12 9
Depreciation 13 15 20 20 13 13 12 12 12 14 15 19 21
Profit before tax -4 4 6 1 145 7 6 7 23 33 38 33 64
Tax % -6% 81% 41% 22% 27% -14% 43% 45% 35% 34% 24% 20%
Net Profit -4 1 4 1 107 8 3 4 15 21 29 27 48
EPS in Rs -3.93 0.59 2.82 0.48 78.19 5.60 2.53 2.69 10.97 15.76 20.95 19.68 35.38
Dividend Payout % 0% 0% 27% 0% 6% 27% 39% 56% 18% 16% 13% 10%
Compounded Sales Growth
10 Years:6%
5 Years:8%
3 Years:8%
TTM:12%
Compounded Profit Growth
10 Years:45%
5 Years:51%
3 Years:23%
TTM:74%
Stock Price CAGR
10 Years:17%
5 Years:49%
3 Years:31%
1 Year:168%
Return on Equity
10 Years:8%
5 Years:10%
3 Years:13%
Last Year:12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
16 23 24 24 18 14 14 14 14 14 14 14 14
Reserves 21 24 29 30 132 137 139 140 156 174 199 219 243
Borrowings 198 202 205 220 81 116 129 124 127 104 113 101 76
36 63 85 83 110 59 46 47 54 57 53 61 72
Total Liabilities 266 301 333 346 337 325 328 325 351 349 378 395 404
118 185 189 172 100 139 164 170 172 186 198 219 224
CWIP 41 0 4 0 15 7 0 6 5 0 10 0 0
Investments 2 2 2 2 1 16 14 15 24 12 9 8 5
105 114 138 172 220 164 150 133 151 151 161 168 175
Total Assets 266 301 333 346 337 325 328 325 351 349 378 395 404

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-11 44 44 29 141 31 33 56 28 32 45 50
-58 -40 -28 -20 44 -58 -29 -25 -14 -13 -34 -27
69 -5 -14 -8 -161 12 -7 -24 -14 -24 -10 -19
Net Cash Flow -0 -2 3 -0 24 -14 -3 7 -1 -6 2 4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 7% 9% 11% 10% 13% 9% 9% 9% 13% 16% 16% 14%
Debtor Days 61 79 72 74 96 109 111 106 114 114 103 107
Inventory Turnover 2.25 1.49 2.01 1.70 1.99 1.83 1.62 2.00 2.42 2.01 2.21 2.12

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
61.05 61.07 61.12 61.12 61.12 61.18 61.21 61.30 61.54 61.56 61.64 61.68
0.00 0.00 0.01 0.00 0.81 1.35 1.35 1.43 1.43 1.43 1.04 0.00
0.02 0.02 0.02 0.02 0.01 0.02 0.02 0.05 0.02 0.02 0.01 0.02
38.94 38.92 38.85 38.86 38.05 37.45 37.42 37.22 37.02 36.99 37.31 38.31

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