Enkei Wheels India Ltd

Enkei Wheels Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Enkei Wheels India Ltd

₹ 484 2.13%
02 Jun - close price
enkei.in BSE: 533477
About

Enkei Wheels (India) Limited is India’s leading manufacturer and supplier of aluminium wheels. It is part of the Enkei Group, a globally renowned Japanese multinational conglomerate with more than six decades of experience in manufacturing aluminium wheels. [1]

Key Points

Formation
The company was formed under a scheme of arrangement in 2009 wherein the wheel division of Enkei Castalloy Ltd was demerged into Enkei Wheels (India) Ltd. Post the scheme of arrangement, the Rai Group (Indian promoter of Enkei Castalloy) got the castalloy business and renamed the company Alicon Castalloy Ltd; the Enkei Corporation (Foreign promoter of Enkei Castalloy) got the wheels business of the joint venture. [1]

Website BSE
  • Market Cap ₹ 870 Cr.
  • Current Price ₹ 484
  • High / Low ₹ 630 / 375
  • Stock P/E
  • Book Value ₹ 123
  • Dividend Yield 0.00 %
  • ROCE 6.78 %
  • ROE 1.84 %
  • Face Value ₹ 5.00
Edit ratios

Pros

  • Company is expected to give good quarter
  • Debtor days have improved from 44.3 to 31.4 days.

Cons

  • Stock is trading at 3.93 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -1.72% over last 3 years.
  • Earnings include an other income of Rs.13.7 Cr.

* 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

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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
67.18 10.72 75.83 81.48 112.46 68.28 119.23 150.56 170.66 159.41 184.71 148.72 132.43
69.85 21.80 72.14 71.55 102.23 65.38 109.17 137.14 155.56 163.07 162.93 144.70 128.98
Operating Profit -2.67 -11.08 3.69 9.93 10.23 2.90 10.06 13.42 15.10 -3.66 21.78 4.02 3.45
OPM % -3.97% -103.36% 4.87% 12.19% 9.10% 4.25% 8.44% 8.91% 8.85% -2.30% 11.79% 2.70% 2.61%
0.39 0.34 0.34 0.32 0.23 -0.45 0.36 1.93 3.64 8.63 3.66 0.09 1.29
Interest 6.84 1.40 1.44 2.44 -1.67 2.17 0.92 0.64 0.70 1.69 2.38 10.52 1.99
Depreciation 5.23 5.23 6.05 5.26 4.95 4.98 4.96 4.26 5.53 6.35 8.32 8.21 9.30
Profit before tax -14.35 -17.37 -3.46 2.55 7.18 -4.70 4.54 10.45 12.51 -3.07 14.74 -14.62 -6.55
Tax % 7.67% 0.52% 16.18% 19.22% -15.32% 8.30% -7.27% 28.90% 28.86% -47.56% 8.75% 3.35% 32.82%
Net Profit -13.25 -17.28 -2.90 2.06 8.28 -4.31 4.88 7.43 8.90 -4.53 13.45 -14.12 -4.40
EPS in Rs -7.76 -10.12 -1.61 1.15 4.61 -2.40 2.71 4.13 4.95 -2.52 7.48 -7.86 -2.45
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Dec 2019 Dec 2020 Dec 2021 Dec 2022 TTM
279 287 320 384 385 407 465 474 267 235 451 663 625
260 265 299 346 346 373 423 450 270 235 413 617 600
Operating Profit 20 22 21 38 40 34 42 25 -4 0 38 46 26
OPM % 7% 8% 7% 10% 10% 8% 9% 5% -1% 0% 8% 7% 4%
-5 6 6 0 -12 0 6 15 32 1 2 8 14
Interest 5 6 9 8 5 5 5 5 5 13 3 16 17
Depreciation 15 16 18 28 26 22 23 21 18 22 19 28 32
Profit before tax -5 6 1 2 -3 7 19 14 5 -33 17 10 -10
Tax % -2% 24% 20% -21% -91% 63% 44% 7% 47% 4% 7% 61%
Net Profit -5 4 1 2 -5 3 11 13 3 -31 16 4 -10
EPS in Rs -4.36 3.41 0.42 1.70 -3.87 1.84 6.99 7.85 1.60 -17.45 9.06 2.06 -5.35
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 9%
5 Years: 10%
3 Years: 35%
TTM: 23%
Compounded Profit Growth
10 Years: 45%
5 Years: 8%
3 Years: 29%
TTM: -157%
Stock Price CAGR
10 Years: 26%
5 Years: 3%
3 Years: 35%
1 Year: 26%
Return on Equity
10 Years: -3%
5 Years: -3%
3 Years: -2%
Last Year: 2%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Dec 2019 Dec 2020 Dec 2021 Dec 2022
10 6 6 7 7 7 8 8 9 9 9 9
Reserves -2 6 10 12 -5 36 73 121 175 182 199 212
136 141 121 88 79 69 73 86 152 184 187 162
172 200 180 177 158 123 121 115 87 78 94 110
Total Liabilities 311 353 318 283 239 236 275 330 423 452 488 494
162 158 181 164 131 129 127 126 140 122 110 231
CWIP 8 25 0 0 0 0 2 55 101 189 218 100
Investments 0 0 0 0 0 0 0 0 0 0 3 3
142 170 136 119 108 107 147 148 182 142 158 159
Total Assets 311 353 318 283 239 236 275 330 423 452 488 494

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Dec 2019 Dec 2020 Dec 2021 Dec 2022
43 26 18 26 13 17 25 39 6 16 28 49
-28 -31 -15 -11 -6 -20 -44 -71 -89 -64 -37 -41
16 -7 -25 -34 -8 3 20 42 104 37 12 -35
Net Cash Flow 32 -12 -22 -18 -1 -0 2 11 21 -11 3 -26

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Dec 2019 Dec 2020 Dec 2021 Dec 2022
Debtor Days 60 66 63 54 61 58 56 34 29 44 57 31
Inventory Days 40 53 21 31 33 22 33 72 183 168 56 67
Days Payable 127 151 106 113 102 61 55 56 87 100 51 58
Cash Conversion Cycle -27 -32 -21 -28 -8 19 34 49 126 113 62 40
Working Capital Days 9 -2 16 11 29 38 28 19 35 21 37 30
ROCE % 4% 4% 3% 8% 15% 12% 14% 3% -9% -6% 6% 7%

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
73.65 74.97 74.97 74.97 74.97 74.97 74.97 74.97 74.97 74.97 74.97 74.97
0.27 0.28 0.28 0.01 0.01 0.01 0.01 0.00 0.00 0.02 0.02 0.00
0.60 0.44 0.41 0.41 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
25.48 24.31 24.35 24.62 25.03 25.03 25.03 25.03 25.03 25.01 25.02 25.04

* 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.

Click on the line-items to see the names of individual entities.

Documents

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