SNL Bearings Ltd

SNL Bearings Ltd

₹ 277 -1.00%
02 Jun - close price
About

SNL Bearings Ltd is engaged in the manufacturing of antifriction bearing products
for automotive as well as industrial uses. [1][2]

Key Points

Product Portfolio
The Co manufactures cage-guided drawn cup needle bearings, connecting-rod needle cages for piston pins and crank pins, among other needle bearings. [1]

  • Market Cap 100 Cr.
  • Current Price 277
  • High / Low 328 / 240
  • Stock P/E 12.2
  • Book Value 150
  • Dividend Yield 2.35 %
  • ROCE 21.7 %
  • ROE 16.0 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 27.2%
  • Debtor days have improved from 62.8 to 49.6 days.

Cons

  • The company has delivered a poor sales growth of 4.56% over past five years.
  • Working capital days have increased from 148 days to 215 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Bearings Industry: Bearings

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Quarterly Results

Figures in Rs. Crores

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
8.50 2.83 8.89 12.23 12.52 10.17 12.43 10.24 10.69 11.30 13.92 11.32 11.33
7.10 3.79 6.76 8.35 8.87 7.40 8.29 7.63 8.11 8.37 10.41 8.56 9.04
Operating Profit 1.40 -0.96 2.13 3.88 3.65 2.77 4.14 2.61 2.58 2.93 3.51 2.76 2.29
OPM % 16.47% -33.92% 23.96% 31.73% 29.15% 27.24% 33.31% 25.49% 24.13% 25.93% 25.22% 24.38% 20.21%
0.22 0.30 0.14 0.22 0.08 0.26 0.29 0.26 0.27 0.10 0.46 0.27 0.34
Interest 0.01 0.07 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.25 0.19 0.25 0.28 0.28 0.32 0.35 0.37 0.38 0.38 0.37 0.38 0.39
Profit before tax 1.36 -0.92 2.02 3.81 3.45 2.71 4.08 2.50 2.47 2.65 3.60 2.65 2.24
Tax % 33.82% 23.91% 24.75% 25.20% 26.96% 25.46% 25.74% 24.00% 23.89% 26.04% 25.56% 23.77% 31.70%
Net Profit 0.90 -0.70 1.52 2.85 2.52 2.02 3.03 1.90 1.88 1.96 2.68 2.02 1.53
EPS in Rs 2.49 -1.94 4.21 7.89 6.98 5.59 8.39 5.26 5.21 5.43 7.42 5.59 4.24
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
20.52 22.86 23.01 26.46 30.04 33.48 38.31 40.64 34.14 36.47 43.51 47.87
13.63 16.09 17.44 18.89 20.56 22.73 26.44 29.46 28.29 27.77 31.42 36.39
Operating Profit 6.89 6.77 5.57 7.57 9.48 10.75 11.87 11.18 5.85 8.70 12.09 11.48
OPM % 33.58% 29.62% 24.21% 28.61% 31.56% 32.11% 30.98% 27.51% 17.14% 23.86% 27.79% 23.98%
0.03 0.07 0.53 0.33 -0.07 0.06 0.30 1.16 0.72 0.74 1.10 1.17
Interest 0.24 0.36 0.71 0.56 0.33 0.14 0.01 0.01 0.02 0.08 0.01 0.00
Depreciation 0.44 0.37 0.43 0.60 0.57 0.71 0.79 0.92 1.01 1.00 1.42 1.52
Profit before tax 6.24 6.11 4.96 6.74 8.51 9.96 11.37 11.41 5.54 8.36 11.76 11.13
Tax % 28.37% 35.19% 31.85% 32.34% 33.25% 33.63% 27.70% 28.57% 25.09% 25.96% 24.91% 26.50%
Net Profit 4.47 3.96 3.39 4.55 5.68 6.62 8.22 8.14 4.15 6.19 8.83 8.18
EPS in Rs 12.38 10.96 9.39 12.60 15.73 18.33 22.76 22.54 11.49 17.14 24.45 22.65
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 12.71% 16.36% 21.96% 22.17% 26.10% 26.24% 26.57% 28.69%
Compounded Sales Growth
10 Years: 8%
5 Years: 5%
3 Years: 12%
TTM: 10%
Compounded Profit Growth
10 Years: 8%
5 Years: 0%
3 Years: 27%
TTM: -7%
Stock Price CAGR
10 Years: 26%
5 Years: -6%
3 Years: 33%
1 Year: -4%
Return on Equity
10 Years: 23%
5 Years: 17%
3 Years: 17%
Last Year: 16%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
9.61 7.61 5.61 4.11 3.86 3.61 3.61 3.61 3.61 3.61 3.61 3.61
Reserves -0.42 2.83 5.52 7.29 11.02 16.30 24.68 30.63 31.13 37.40 44.71 50.43
1.15 3.85 6.48 4.10 1.82 0.70 0.00 0.09 3.00 0.08 0.16 0.13
9.41 7.60 5.83 7.36 6.20 4.77 5.67 5.15 4.02 5.78 6.35 8.17
Total Liabilities 13.75 17.89 21.44 22.36 22.65 25.38 33.96 39.48 41.76 46.87 54.83 62.34
3.12 5.12 8.32 8.97 8.85 9.36 8.91 10.76 13.37 13.02 14.80 14.79
CWIP 0.00 0.00 0.00 0.28 0.03 0.08 0.25 0.22 0.00 1.27 0.21 1.24
Investments 0.00 0.00 0.00 0.00 0.00 1.07 8.72 8.08 9.85 8.03 14.52 15.25
10.63 12.77 13.12 13.11 13.77 14.87 16.08 20.42 18.54 24.55 25.30 31.06
Total Assets 13.75 17.89 21.44 22.36 22.65 25.38 33.96 39.48 41.76 46.87 54.83 62.34

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
3.50 2.66 4.11 6.08 6.57 6.43 9.73 2.28 7.62 7.99 5.89 8.48
-0.59 -2.37 -3.33 -0.70 -0.58 -2.25 -9.04 -0.10 -4.56 -0.06 -9.25 -7.75
-3.08 -0.32 -0.75 -5.14 -5.65 -4.83 -0.71 -2.10 -0.58 -3.09 -1.56 -2.39
Net Cash Flow -0.17 -0.03 0.03 0.23 0.35 -0.65 -0.01 0.08 2.48 4.84 -4.92 -1.66

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 54.43 68.18 91.21 70.63 78.49 74.68 68.88 56.22 69.60 81.77 57.13 49.64
Inventory Days 440.64 402.86 348.19 369.21 286.12 327.90 215.33 463.30 278.95 206.55 340.69 282.80
Days Payable 35.39 91.69 78.64 110.97 98.95 48.09 96.02 64.69 38.17 68.22 78.94 98.55
Cash Conversion Cycle 459.68 379.34 360.76 328.86 265.66 354.50 188.20 454.83 310.39 220.10 318.87 233.89
Working Capital Days 118.64 139.87 151.65 87.18 93.56 118.94 96.32 143.43 134.28 110.59 118.03 215.40
ROCE % 65.75% 52.54% 35.55% 44.10% 55.34% 54.78% 46.54% 35.32% 14.93% 20.68% 26.28% 21.69%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
74.39 74.39 74.39 74.39 74.39 74.39 74.39 74.39 74.39 74.39 74.39 74.39
0.63 0.63 0.63 0.63 0.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00
24.97 24.97 24.97 24.97 25.04 25.60 25.60 25.60 25.60 25.60 25.61 25.60

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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