Pix Transmission Ltd

About

PIX Transmissions Ltd. 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 an ultra-sophisticated, automated Rubber Mixing facility. [1]

Key Points

Product Portfolio
The company's product portfolio includes Industrial belts, agricultural belts, lawn & garden belts, Automotive belts, hi-power rated belts, power-ware products and various accessories as well. [1]
It products are used in various machinery and thus find applications in diverse industries viz. automotive, agriculture, ceramic, cold storage, food processing, domestic appliance, cement, machine tools, oil and gas, packaging, paper, pharmaceutical, steel, textile and many more. [2]

See full details
  • Market Cap 1,074 Cr.
  • Current Price 788
  • High / Low 930 / 135
  • Stock P/E 14.1
  • Book Value 220
  • Dividend Yield 0.63 %
  • ROCE 27.6 %
  • ROE 24.6 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 58.68% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 11.13% over past five years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
70 75 84 74 75 84 85 60 102 108 130 103
58 63 66 60 62 69 68 46 69 79 95 77
Operating Profit 12 12 18 15 13 15 17 13 32 29 35 26
OPM % 17% 16% 21% 20% 17% 18% 20% 22% 32% 27% 27% 26%
Other Income 4 -1 1 1 2 2 3 2 1 2 1 2
Interest 3 3 3 3 3 3 3 2 2 2 2 2
Depreciation 4 4 4 4 4 4 6 5 5 5 5 5
Profit before tax 9 5 12 8 8 10 11 8 26 24 30 22
Tax % 28% 38% 29% 29% -2% 22% 24% 34% 25% 23% 26% 25%
Net Profit 6 3 8 6 8 8 8 5 20 18 22 16
EPS in Rs 4.58 2.22 6.05 4.41 5.88 5.68 6.22 3.74 14.32 13.48 16.09 12.10

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
171 227 212 227 200 212 224 239 253 295 304 380 443
134 181 165 189 167 175 186 192 195 236 243 268 319
Operating Profit 36 46 48 39 33 37 38 48 58 59 61 113 124
OPM % 21% 20% 22% 17% 17% 17% 17% 20% 23% 20% 20% 30% 28%
Other Income 0 0 1 139 4 3 3 6 5 7 7 4 6
Interest 19 22 26 20 17 20 19 16 14 12 12 9 8
Depreciation 15 20 20 13 14 13 13 13 15 16 19 20 20
Profit before tax 3 4 3 145 7 6 10 24 34 38 37 87 102
Tax % 109% 57% 7% 27% -15% 40% 33% 34% 33% 25% 19% 26%
Net Profit -0 2 3 106 8 4 7 16 23 29 30 65 76
EPS in Rs -0.20 1.47 1.99 77.83 5.52 2.87 4.80 11.93 16.56 20.97 22.19 47.63 55.99
Dividend Payout % 0% 51% 0% 6% 27% 35% 31% 17% 15% 13% 9% 10%
Compounded Sales Growth
10 Years:5%
5 Years:11%
3 Years:15%
TTM:46%
Compounded Profit Growth
10 Years:43%
5 Years:59%
3 Years:43%
TTM:160%
Stock Price CAGR
10 Years:34%
5 Years:67%
3 Years:55%
1 Year:478%
Return on Equity
10 Years:12%
5 Years:16%
3 Years:18%
Last Year:25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
23 24 24 18 14 14 14 14 14 14 14 14
Reserves 21 23 31 131 135 136 138 157 175 200 223 286
Borrowings 203 209 220 91 118 134 125 128 105 113 101 71
68 86 79 101 111 45 53 56 59 57 63 69
Total Liabilities 304 330 343 337 377 329 330 355 353 385 400 440
185 189 173 100 142 167 173 174 187 199 219 225
CWIP 0 0 0 15 7 0 6 5 0 10 0 0
Investments 1 1 1 1 15 13 14 23 11 8 7 4
117 140 169 220 213 149 137 153 155 168 174 210
Total Assets 304 330 343 337 377 329 330 355 353 385 400 440

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
46 42 28 142 45 32 64 27 31 47 52 35
-40 -28 -21 44 -61 -29 -26 -15 -14 -34 -28 -22
-7 -12 -7 -162 3 -6 -30 -13 -25 -10 -19 -17
Net Cash Flow -2 2 0 24 -13 -4 8 -1 -7 3 5 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 80 65 72 94 103 84 86 93 94 84 81 78
Inventory Days 263 194 254 171 214 282 178 246 284 238 255 280
Days Payable 172 158 156 81 164 72 85 111 92 65 75 83
Cash Conversion Cycle 171 101 170 185 153 294 179 228 285 257 260 275
Working Capital Days 137 103 134 126 66 150 118 128 142 138 125 134
ROCE % 9% 10% 11% 12% 9% 10% 10% 14% 16% 16% 15% 28%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
61.12 61.12 61.18 61.21 61.30 61.54 61.56 61.64 61.68 61.73 61.73 61.76
0.00 0.81 1.35 1.35 1.43 1.43 1.43 1.04 0.00 0.00 0.05 0.05
0.02 0.01 0.02 0.02 0.05 0.02 0.02 0.01 0.02 0.02 0.01 0.03
38.86 38.05 37.45 37.42 37.22 37.02 36.99 37.31 38.31 38.26 38.21 38.16

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