Eastern Treads Ltd

Eastern Treads Ltd

₹ 36.8 -0.41%
28 Mar - close price
About

Incorporated in 1993, Eastern Treads Limited is in the business of manufacturing and dealing with tread rubber, rubber-based adhesives, tire-retreading accessories and retreading services, rubber-based adhesives, tyre retreading accessories, and retreading services. The registered office of the company is in Kerala. [1][2]

Key Points

Product Portfolio:[1]
Equipped with hot and cold processes, Eastern Treads has a wide range of radial patterns and retread materials that suits almost every tyre size of all vehicles viz.,
a) Precured Tread Rubber[2]
b) Hot Rubber Slab & Camel Back Treads[3]
c) Bonding Gum[4]
d) Black Vulcanizing Cement[5]
e) Repair Patches[6]

  • Market Cap 19.2 Cr.
  • Current Price 36.8
  • High / Low 48.0 / 26.6
  • Stock P/E
  • Book Value -17.3
  • Dividend Yield 0.00 %
  • ROCE -14.8 %
  • ROE %
  • Face Value 10.0

Pros

  • Debtor days have improved from 107 to 79.7 days.
  • Company's working capital requirements have reduced from 104 days to 64.5 days

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -8.71% over past five 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
19.03 18.89 14.75 20.64 15.60 21.28 16.87 13.25 15.36 14.36 14.53 15.44 14.79
17.26 18.19 15.10 21.48 16.70 24.18 17.72 14.21 15.78 15.01 14.62 15.28 14.16
Operating Profit 1.77 0.70 -0.35 -0.84 -1.10 -2.90 -0.85 -0.96 -0.42 -0.65 -0.09 0.16 0.63
OPM % 9.30% 3.71% -2.37% -4.07% -7.05% -13.63% -5.04% -7.25% -2.73% -4.53% -0.62% 1.04% 4.26%
0.19 0.15 0.06 0.11 0.11 0.06 0.03 0.00 0.03 0.02 0.01 0.03 0.16
Interest 0.65 0.81 0.76 0.83 0.85 0.73 0.61 0.78 1.00 0.84 0.80 0.79 0.64
Depreciation 0.43 0.51 0.49 0.47 0.44 0.43 0.42 0.41 0.40 0.42 0.38 0.33 0.28
Profit before tax 0.88 -0.47 -1.54 -2.03 -2.28 -4.00 -1.85 -2.15 -1.79 -1.89 -1.26 -0.93 -0.13
Tax % -5.68% 34.04% 3.90% 3.45% 2.19% 0.75% 3.78% 2.33% 2.79% 14.81% 1.59% 2.15% 15.38%
0.94 -0.31 -1.49 -1.96 -2.23 -3.97 -1.78 -2.10 -1.74 -1.61 -1.23 -0.90 -0.11
EPS in Rs 1.80 -0.59 -2.85 -3.75 -4.26 -7.59 -3.40 -4.01 -3.33 -3.08 -2.35 -1.72 -0.21
Raw PDF

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
85.04 65.00 89.24 85.28 84.45 90.59 94.38 97.46 77.45 66.60 72.28 59.84 59.12
82.75 62.37 85.47 82.49 76.88 84.69 91.70 93.59 73.18 62.55 77.48 62.72 59.07
Operating Profit 2.29 2.63 3.77 2.79 7.57 5.90 2.68 3.87 4.27 4.05 -5.20 -2.88 0.05
OPM % 2.69% 4.05% 4.22% 3.27% 8.96% 6.51% 2.84% 3.97% 5.51% 6.08% -7.19% -4.81% 0.08%
0.04 0.04 0.33 2.11 0.11 0.70 0.22 0.48 0.33 0.49 0.34 0.08 0.22
Interest 0.75 0.58 0.83 1.54 1.38 2.97 3.27 3.61 3.23 3.31 3.20 3.23 3.07
Depreciation 0.57 0.59 0.79 0.95 1.16 1.82 2.11 2.63 2.47 2.12 1.83 1.65 1.41
Profit before tax 1.01 1.50 2.48 2.41 5.14 1.81 -2.48 -1.89 -1.10 -0.89 -9.89 -7.68 -4.21
Tax % -4.95% 28.67% 33.87% 34.85% 33.66% 27.07% 7.26% 9.52% -2.73% 35.96% 2.12% 5.86%
1.06 1.07 1.64 1.58 3.41 1.32 -2.29 -1.71 -1.12 -0.57 -9.68 -7.23 -3.85
EPS in Rs 1.90 1.91 2.93 3.02 6.52 2.52 -4.38 -3.27 -2.14 -1.09 -18.50 -13.82 -7.36
Dividend Payout % 0.00% 0.00% 0.00% 17.12% 15.39% 20.49% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: -1%
5 Years: -9%
3 Years: -8%
TTM: -11%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 60%
Stock Price CAGR
10 Years: 11%
5 Years: -3%
3 Years: -12%
1 Year: 32%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

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 5.19 5.27 5.35 5.41 5.41 5.41 5.41 5.41 5.41 5.41 5.41 5.41 5.41
Reserves -2.99 -1.93 -0.29 0.97 3.76 7.16 4.49 2.58 1.40 0.85 -4.92 -12.27 -14.44
Preference Capital 10.00 10.00 10.00 10.00 10.00 0.00 5.97 6.56 4.11 3.60 3.04 2.40
5.87 4.49 11.89 9.34 7.27 21.35 19.91 21.88 29.44 29.57 29.66 31.21 33.37
14.76 15.28 19.04 20.25 23.32 19.54 26.07 25.77 18.23 17.28 16.92 13.25 14.01
Total Liabilities 22.83 23.11 35.99 35.97 39.76 53.46 55.88 55.64 54.48 53.11 47.07 37.60 38.35
3.57 4.29 6.50 8.82 11.08 15.96 15.89 16.87 14.33 12.00 16.03 14.29 14.03
CWIP 0.13 0.01 0.00 0.35 0.26 0.36 2.53 0.18 0.16 0.24 0.17 0.00 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.03 0.03 0.00 0.00 0.00
19.13 18.81 29.49 26.80 28.42 37.14 37.46 38.56 39.96 40.84 30.87 23.31 24.32
Total Assets 22.83 23.11 35.99 35.97 39.76 53.46 55.88 55.64 54.48 53.11 47.07 37.60 38.35

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
0.45 2.66 -0.81 5.82 5.62 -0.49 3.51 2.00 -1.32 4.46 1.40 4.80
-0.55 -1.18 -4.23 -2.34 -3.41 -4.12 -4.25 -1.24 -1.31 -0.56 2.62 -0.17
-0.38 -1.45 7.63 -2.80 -2.65 5.24 1.02 -1.03 1.87 -3.65 -3.65 -4.95
Net Cash Flow -0.48 0.03 2.59 0.68 -0.43 0.63 0.28 -0.27 -0.76 0.25 0.36 -0.32

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 31.89 44.75 60.62 40.06 50.27 96.74 99.27 99.36 121.31 140.63 100.95 79.66
Inventory Days 24.64 37.26 40.62 47.33 51.70 56.85 42.33 45.76 74.90 87.16 52.12 64.56
Days Payable 19.34 28.46 38.32 42.15 55.97 71.77 76.89 67.21 63.64 75.29 52.19 54.63
Cash Conversion Cycle 37.19 53.55 62.92 45.24 46.00 81.83 64.71 77.91 132.56 152.49 100.88 89.59
Working Capital Days 52.19 65.03 72.48 56.84 53.25 62.89 59.40 69.17 120.22 151.92 95.39 64.47
ROCE % 9.93% 11.59% 14.78% 11.01% 25.00% 15.84% 2.27% 4.76% 5.55% 6.07% -18.42% -14.85%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
65.45% 65.45% 65.45% 65.63% 65.67% 65.67% 65.66% 65.66% 65.66% 65.66% 65.66% 65.66%
34.55% 34.55% 34.55% 34.37% 34.33% 34.33% 34.33% 34.34% 34.34% 34.34% 34.33% 34.33%
No. of Shareholders 2,0102,0012,0672,1692,1522,1441,8871,8871,8761,8751,8581,847

Documents

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