Frontier Springs Ltd
Frontier Springs was incorporated in 1981. It initially manufactured Leaf Springs and Laminated Bearing Springs for Automobiles and Railways. It is mainly engaged in the production of L.B.Springs and Hot Coiled Compression Spring and forging items for Wagon, Locomotives and Carriage and is regularly supplying to Railways, Bogie Manufacturers, Chittaranjan Locomotive Works, etc. Since 1990 it is registered with RDSO (Ministry of Railways) for supply of springs to Indian Railways [1] [2]
- Market Cap ₹ 492 Cr.
- Current Price ₹ 1,248
- High / Low ₹ 1,435 / 386
- Stock P/E 48.7
- Book Value ₹ 204
- Dividend Yield 0.08 %
- ROCE 13.5 %
- ROE 10.2 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 70.6 to 55.1 days.
Cons
- Company has a low return on equity of 11.9% over last 3 years.
* 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: Auto Ancillaries Industry: Auto Ancillaries
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
35 | 38 | 37 | 35 | 39 | 47 | 59 | 83 | 100 | 77 | 84 | 107 | 120 | |
29 | 33 | 32 | 32 | 35 | 41 | 50 | 70 | 79 | 64 | 71 | 95 | 103 | |
Operating Profit | 5 | 5 | 4 | 3 | 4 | 6 | 8 | 13 | 20 | 13 | 12 | 13 | 17 |
OPM % | 15% | 13% | 12% | 8% | 10% | 12% | 14% | 16% | 20% | 17% | 15% | 12% | 14% |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | |
Interest | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
Depreciation | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 4 |
Profit before tax | 4 | 3 | 2 | 1 | 1 | 2 | 5 | 10 | 18 | 11 | 10 | 10 | 14 |
Tax % | 24% | 26% | 25% | 29% | 49% | 8% | 35% | 18% | 20% | 26% | 25% | 26% | |
3 | 2 | 2 | 0 | 1 | 2 | 4 | 8 | 14 | 8 | 8 | 7 | 10 | |
EPS in Rs | 7.21 | 5.08 | 4.29 | 1.04 | 1.29 | 5.43 | 9.04 | 21.33 | 35.60 | 19.80 | 19.07 | 18.38 | 25.65 |
Dividend Payout % | 14% | 0% | 0% | 0% | 0% | 0% | 0% | 5% | 3% | 0% | 5% | 5% |
Compounded Sales Growth | |
---|---|
10 Years: | 11% |
5 Years: | 13% |
3 Years: | 2% |
TTM: | 20% |
Compounded Profit Growth | |
---|---|
10 Years: | 13% |
5 Years: | 15% |
3 Years: | -20% |
TTM: | 45% |
Stock Price CAGR | |
---|---|
10 Years: | 57% |
5 Years: | 41% |
3 Years: | 68% |
1 Year: | 196% |
Return on Equity | |
---|---|
10 Years: | 14% |
5 Years: | 17% |
3 Years: | 12% |
Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
Reserves | 16 | 17 | 19 | 20 | 20 | 22 | 26 | 34 | 47 | 56 | 63 | 71 | 77 |
6 | 6 | 11 | 10 | 13 | 14 | 12 | 9 | 9 | 4 | 3 | 5 | 2 | |
8 | 9 | 11 | 12 | 16 | 15 | 17 | 21 | 18 | 20 | 22 | 31 | 30 | |
Total Liabilities | 34 | 37 | 44 | 46 | 52 | 55 | 59 | 68 | 78 | 83 | 92 | 110 | 113 |
14 | 16 | 16 | 16 | 23 | 27 | 29 | 30 | 33 | 34 | 37 | 42 | 43 | |
CWIP | 1 | 0 | 4 | 6 | 1 | 1 | 0 | 0 | 1 | 0 | 1 | 1 | 1 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 5 | 8 | 13 | 15 | 17 |
19 | 20 | 24 | 24 | 29 | 28 | 29 | 35 | 39 | 41 | 42 | 52 | 52 | |
Total Assets | 34 | 37 | 44 | 46 | 52 | 55 | 59 | 68 | 78 | 83 | 92 | 110 | 113 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
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 | 3 | 1 | 5 | 1 | 6 | 7 | 9 | 10 | 11 | 10 | 10 | |
-4 | -2 | -5 | -3 | -3 | -6 | -4 | -4 | -8 | -5 | -10 | -10 | |
1 | -1 | 4 | -2 | 2 | -0 | -3 | -5 | -1 | -6 | -1 | 1 | |
Net Cash Flow | -0 | -0 | 0 | 0 | 0 | 0 | -1 | 0 | 1 | 0 | -1 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
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 | 88 | 70 | 102 | 81 | 96 | 58 | 63 | 50 | 58 | 83 | 74 | 55 |
Inventory Days | 170 | 183 | 223 | 265 | 281 | 265 | 206 | 186 | 147 | 214 | 215 | 211 |
Days Payable | 126 | 121 | 146 | 190 | 220 | 199 | 179 | 165 | 117 | 175 | 150 | 170 |
Cash Conversion Cycle | 132 | 132 | 180 | 156 | 156 | 124 | 90 | 71 | 87 | 121 | 139 | 97 |
Working Capital Days | 101 | 95 | 131 | 109 | 115 | 82 | 70 | 59 | 73 | 87 | 85 | 71 |
ROCE % | 20% | 15% | 11% | 5% | 8% | 11% | 17% | 26% | 35% | 18% | 15% | 13% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
19 Apr - Re-submission of Announcement under Regulation 30-Appointment of Statutory Auditors dated 11th August,2023.
- Compliance Certificate (RTA & Compliance Officer ) For The Financial Year Ended March 31,2024. 8 Apr
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Apr - Certificate under Regulation 74(5) of SEBI(DP) Regulations,2018 for the quarter ended March 31,2024.
- Closure of Trading Window 27 Mar
-
Announcement under Regulation 30 (LODR)-Investor Presentation
10 Mar - Outcome of the Investor Meet held on March 8,2024 along with the investor presentation.
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Products[1]
1. Air Springs for LHB coaches.
2. Suspension Coil Springs for freight stock , coaching stock, diesel & electical locomotives.
3. TMCLH & VLH Coil Springs for the power sector.
4. Forging components (Hangers, Draft Gear Forgings, Screw coupling, Side Bearer
Assembly LHB Components such as Anti Roll
Bar, Fork and Vande Bharat Components.)