Frontier Springs Ltd

About

Frontier Springs Ltd. is the world's leading manufacturer of hot wound springs for transportation, industrial and government applications.

  • Market Cap 121 Cr.
  • Current Price 308
  • High / Low 380 / 165
  • Stock P/E 9.43
  • Book Value 130
  • Dividend Yield 0.36 %
  • ROCE 35.2 %
  • ROE 31.5 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 108.10% CAGR over last 5 years

Cons

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
13.26 14.19 17.23 18.44 19.33 21.05 24.32 24.29 25.22 28.54 21.75 16.80
11.36 12.41 14.82 15.35 16.68 18.10 20.36 20.09 21.11 22.17 16.75 13.85
Operating Profit 1.90 1.78 2.41 3.09 2.65 2.95 3.96 4.20 4.11 6.37 5.00 2.95
OPM % 14.33% 12.54% 13.99% 16.76% 13.71% 14.01% 16.28% 17.29% 16.30% 22.32% 22.99% 17.56%
Other Income 0.21 0.11 0.11 0.13 0.24 0.14 0.19 0.24 0.15 0.14 0.45 0.19
Interest 0.27 0.41 0.36 0.23 0.21 0.20 0.19 0.19 0.20 0.13 0.12 0.16
Depreciation 0.45 0.44 0.58 0.50 0.52 0.51 0.69 0.60 0.61 0.63 0.61 0.62
Profit before tax 1.39 1.04 1.58 2.49 2.16 2.38 3.27 3.65 3.45 5.75 4.72 2.36
Tax % 24.46% 25.96% 62.03% 12.45% 30.56% 18.49% 14.98% 24.93% 28.41% 25.74% 3.18% 33.47%
Net Profit 1.06 0.77 0.60 2.18 1.51 1.95 2.77 2.74 2.47 4.27 4.56 1.56
EPS in Rs 2.69 1.96 1.52 5.54 3.83 4.95 7.03 6.96 6.27 10.84 11.58 3.96
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
26 32 42 35 38 37 35 39 47 59 83 100 92
24 27 34 29 33 32 32 35 41 50 70 80 74
Operating Profit 2 6 8 5 5 4 3 4 6 8 13 20 18
OPM % 9% 18% 19% 15% 13% 12% 8% 10% 12% 14% 16% 20% 20%
Other Income 0 0 0 0 0 0 0 0 0 0 1 1 1
Interest 1 1 1 1 1 1 1 2 2 1 1 1 1
Depreciation 0 1 1 1 1 1 1 1 2 2 2 2 2
Profit before tax 2 5 6 4 3 2 1 1 2 5 10 18 16
Tax % 36% 36% 21% 24% 26% 25% 29% 49% 8% 35% 18% 20%
Net Profit 1 3 5 3 2 2 0 1 2 4 8 14 13
EPS in Rs 2.56 7.54 12.64 7.21 5.08 4.29 1.04 1.29 5.43 9.04 21.33 35.65 32.65
Dividend Payout % 0% 0% 8% 14% 0% 0% 0% 0% 0% 0% 5% 3%
Compounded Sales Growth
10 Years:12%
5 Years:24%
3 Years:29%
TTM:4%
Compounded Profit Growth
10 Years:17%
5 Years:108%
3 Years:87%
TTM:43%
Stock Price CAGR
10 Years:16%
5 Years:64%
3 Years:18%
1 Year:63%
Return on Equity
10 Years:16%
5 Years:19%
3 Years:25%
Last Year:32%

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
4 4 4 4 4 4 4 4 4 4 4 4
Reserves 6 9 13 16 17 19 20 20 22 26 34 47
Borrowings 3 5 5 6 6 11 10 13 14 12 9 9
4 7 6 8 9 11 12 16 15 17 21 18
Total Liabilities 18 24 28 34 37 44 46 52 55 59 68 78
5 10 11 14 16 16 16 23 27 29 30 33
CWIP 1 0 1 1 0 4 6 1 1 0 0 1
Investments 0 0 0 0 0 0 0 0 0 2 3 5
11 13 16 19 20 24 24 29 28 29 35 39
Total Assets 18 24 28 34 37 44 46 52 55 59 68 78

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 4 4 3 3 1 5 1 6 7 9 10
-1 -5 -2 -4 -2 -5 -3 -3 -6 -4 -4 -8
0 1 -1 1 -1 4 -2 2 -0 -3 -5 -1
Net Cash Flow 0 0 1 -0 -0 0 0 0 0 -1 0 1

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% 36% 36% 20% 15% 11% 5% 8% 11% 17% 26% 35%
Debtor Days 79 77 63 88 70 102 81 96 58 63 50 58
Inventory Turnover 4.59 4.44 4.48 2.97 2.57 2.13 1.78 1.68 1.72 2.02 2.54 2.73

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
51.76 51.76 51.76 51.76 51.76 51.76 51.76 51.76 51.76 51.76 51.76 51.76
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.03 0.03
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.00 0.00 0.00
48.23 48.23 48.23 48.23 48.23 48.23 48.23 48.23 48.20 48.23 48.21 48.21

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