RACL Geartech Ltd

raclgeartech.com BSE: 520073

About [ edit ]

RACL Geartech Limited, formerly Raunaq Automotive Components Limited, is an India-based company, which is engaged in automotive gears and components business.

Key Points [ edit ]

Marquee Clients ^#
Company manufactures high-precision products (various types of transmission gears and shafts) for the premium segment and has reputed global majors such as BMW, Kubota, Piaggio, Yamaha, KTM, BRP Rotax etc. as its key customers.

Good growth in export sales ^#
The export sales of the company are continuously increasing and have increased from 59 Cr in FY16 to 142 Cr in FY20 and it formed around 70% of total sales during FY20.

Future Expansion ^#
Company is undertaking an expansion of 50 Cr. The expansion is on account of the new orders received by the company from new customers in export market

Revenue Breakup FY20 ^#
Motorbike & Scooters – 47%
Tractors & Agriculture Equipment – 16%
3 Wheeler – 14%
Recreational Vehicles (ATV & RTV) – 16%

Website BSE

Market Cap ₹ 287 Cr.
Current Price ₹ 266
High / Low ₹ 278 / 49.1
Stock P/E 14.9
Book Value ₹ 85.3
Dividend Yield 0.38 %
ROCE 19.6 %
ROE 23.8 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 38.10% CAGR over last 5 years

Cons

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Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Detailed Comparison with:

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
	42.22	38.31	44.57	52.88	54.20	52.82	55.96	55.81	47.74	22.66	48.45	65.24
	35.99	33.19	38.06	43.99	44.03	44.13	45.41	43.66	38.03	18.51	36.31	47.85
Operating Profit	6.23	5.12	6.51	8.89	10.17	8.69	10.55	12.15	9.71	4.15	12.14	17.39
OPM %	14.76%	13.36%	14.61%	16.81%	18.76%	16.45%	18.85%	21.77%	20.34%	18.31%	25.06%	26.66%
Other Income	0.17	0.07	0.51	0.00	0.43	0.07	0.40	0.07	-0.02	0.75	1.40	0.23
Interest	1.28	1.53	1.65	1.92	1.27	1.70	1.72	1.86	3.16	1.45	2.59	2.49
Depreciation	1.25	1.65	2.07	2.10	2.18	2.33	2.33	2.44	4.18	2.73	2.81	3.36
Profit before tax	3.87	2.01	3.30	4.87	7.15	4.73	6.90	7.92	2.35	0.72	8.14	11.77
Tax %	-16.80%	19.90%	19.70%	23.82%	74.97%	32.98%	25.65%	29.42%	-31.49%	-111.11%	31.57%	22.85%
Net Profit	4.52	1.61	2.65	3.71	1.80	3.18	5.13	5.59	3.09	1.51	5.56	9.08
EPS in Rs	4.55	1.62	2.67	3.61	1.75	3.09	4.76	5.18	2.87	1.40	5.16	8.42
	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
	57	64	82	98	95	104	107	117	116	136	190	212	184
	52	57	73	88	85	90	92	103	101	118	158	170	141
Operating Profit	5	7	9	10	10	14	16	15	15	18	32	43	43
OPM %	9%	12%	11%	10%	10%	13%	15%	13%	13%	13%	17%	20%	24%
Other Income	1	1	1	2	2	0	0	0	1	1	0	-1	2
Interest	2	2	3	5	6	6	7	6	5	6	6	8	10
Depreciation	2	3	3	3	3	4	4	4	4	5	8	11	13
Profit before tax	2	3	4	4	2	3	5	6	6	9	17	22	23
Tax %	16%	22%	34%	33%	36%	45%	28%	35%	21%	9%	44%	22%
Net Profit	2	2	3	3	2	2	4	4	5	8	10	17	19
EPS in Rs					1.76	2.09	3.61	3.73	5.18	7.92	9.50	15.75	17.85
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	6%

Compounded Sales Growth
10 Years:	13%
5 Years:	15%
3 Years:	22%
TTM:	-16%

Compounded Profit Growth
10 Years:	22%
5 Years:	38%
3 Years:	52%
TTM:	23%

Stock Price CAGR
10 Years:	33%
5 Years:	57%
3 Years:	59%
1 Year:	153%

Return on Equity
10 Years:	14%
5 Years:	16%
3 Years:	19%
Last Year:	24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

	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
	8	8	8	9	9	9	10	10	10	10	10	11	11
Reserves	4	6	9	12	25	27	31	35	38	45	56	74	81
Borrowings	18	21	21	35	39	39	37	30	54	66	85	88	77
	11	17	28	24	32	36	34	32	30	36	45	49	56
Total Liabilities	40	51	65	80	104	111	111	107	131	157	196	222	225
	21	29	34	43	52	62	60	62	64	72	95	108	105
CWIP	0	2	0	1	5	1	0	0	0	0	0	0	3
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
	19	21	31	37	47	48	51	45	67	85	101	114	118
Total Assets	40	51	65	80	104	111	111	107	131	157	196	222	225

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
	1	8	6	-0	-4	6	4	10	9	5	19	33
	-6	-12	-10	-12	-7	-10	-2	-7	-5	-13	-31	-26
	5	3	4	12	11	4	-2	-3	-4	7	11	-7
Net Cash Flow	-0	-0	0	0	0	1	0	0	-0	-1	-0	-0

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 %	18%	18%	20%	19%	13%	13%	15%	15%	13%	13%	18%	20%
Debtor Days	44	41	40	46	68	55	58	27	98	109	98	92
Inventory Turnover	3.94	3.50	3.51	3.43	2.79	2.59	2.25	2.16	1.99	2.00	2.26	2.11

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
51.32	48.47	49.63	51.33	51.08	51.12	53.32	53.11	53.19	53.22	53.31	53.32
0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.04	0.00	0.00	0.00	0.00
48.68	51.53	50.37	48.66	48.92	48.87	46.68	46.85	46.81	46.78	46.68	46.68

RACL Geartech Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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