SAL Automotive Ltd

SAL Automotive Ltd

₹ 545 1.76%
23 Feb - close price
About

Incorporated in 1974, SAL Automotive Ltd is engaged in automotive (Passenger and Commercial Vehicle) and agriculture segments

Key Points

Business Overview:[1]
Company manufactures automotive components and agricultural implements which it supplies to manufacturers of passenger vehicles, commercial vehicles and tractors. The product line of company includes seats, seat mechanisms, seat frames, rotavators, planters and tractor trollies

  • Market Cap 131 Cr.
  • Current Price 545
  • High / Low 697 / 240
  • Stock P/E 18.9
  • Book Value 155
  • Dividend Yield 0.73 %
  • ROCE 13.4 %
  • ROE 14.4 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Debtor days have improved from 79.1 to 44.5 days.
  • Company's working capital requirements have reduced from 27.3 days to 19.8 days

Cons

  • Stock is trading at 3.51 times its book value
  • Company has a low return on equity of 3.27% 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.

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Quarterly Results

Figures in Rs. Crores

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
29.14 31.67 31.43 47.67 33.73 37.75 60.12 75.25 76.30 92.12 84.94 80.27 81.53
28.05 30.63 30.80 46.75 35.43 38.88 58.92 73.37 74.02 87.09 81.32 76.96 78.89
Operating Profit 1.09 1.04 0.63 0.92 -1.70 -1.13 1.20 1.88 2.28 5.03 3.62 3.31 2.64
OPM % 3.74% 3.28% 2.00% 1.93% -5.04% -2.99% 2.00% 2.50% 2.99% 5.46% 4.26% 4.12% 3.24%
0.48 0.25 0.31 0.55 0.30 0.38 0.34 0.34 0.35 0.50 0.40 0.53 0.27
Interest 0.13 0.16 0.21 0.29 0.26 0.38 0.46 0.56 0.75 0.87 0.76 0.76 0.58
Depreciation 0.39 0.40 0.48 0.51 0.55 0.58 0.55 0.63 0.82 1.08 0.87 1.06 1.19
Profit before tax 1.05 0.73 0.25 0.67 -2.21 -1.71 0.53 1.03 1.06 3.58 2.39 2.02 1.14
Tax % 10.48% 19.18% 12.00% 34.33% 24.43% 22.81% 28.30% 25.24% 24.53% 23.18% 25.52% 26.24% 21.05%
0.94 0.59 0.22 0.44 -1.67 -1.32 0.38 0.77 0.80 2.75 1.78 1.49 0.90
EPS in Rs 3.92 2.46 0.92 1.84 -6.97 -5.51 1.58 3.21 3.34 11.47 7.42 6.21 3.75
Raw PDF

Profit & Loss

Figures in Rs. Crores

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
70 75 81 94 96 93 114 131 85 95 151 304 339
67 71 77 90 93 90 109 125 86 93 152 293 324
Operating Profit 3 4 4 4 3 3 5 6 -1 2 -1 10 15
OPM % 4% 5% 5% 4% 3% 3% 5% 4% -1% 2% -1% 3% 4%
1 1 1 1 1 1 1 1 4 1 2 2 2
Interest 0 0 0 0 0 0 0 0 0 1 1 3 3
Depreciation 1 1 1 1 1 1 1 1 1 2 2 3 4
Profit before tax 2 3 4 4 3 3 5 5 2 1 -3 6 9
Tax % 34% 33% 34% 32% 34% 32% 31% 28% 32% 1% 22% 24%
2 2 2 2 2 2 3 3 1 1 -2 5 7
EPS in Rs 6.42 9.47 9.80 10.05 8.47 9.59 14.22 14.47 5.21 3.50 -9.72 19.60 28.85
Dividend Payout % 47% 32% 36% 35% 41% 42% 32% 31% 67% 100% 0% 20%
Compounded Sales Growth
10 Years: 15%
5 Years: 22%
3 Years: 53%
TTM: 36%
Compounded Profit Growth
10 Years: 8%
5 Years: 7%
3 Years: 79%
TTM: 998%
Stock Price CAGR
10 Years: %
5 Years: 20%
3 Years: 47%
1 Year: 115%
Return on Equity
10 Years: 6%
5 Years: 3%
3 Years: 3%
Last Year: 14%

Balance Sheet

Figures in Rs. Crores

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 2 2 2 2 2 2 2 2 2 2 2 2 2
Reserves 19 21 22 23 24 26 29 31 31 31 28 33 35
0 0 0 0 0 0 4 5 5 10 28 39 37
21 22 25 26 23 24 34 28 26 35 47 56 53
Total Liabilities 43 45 50 51 49 53 69 66 65 78 105 130 128
10 10 10 9 9 10 13 14 9 9 13 33 33
CWIP 0 1 0 1 1 0 0 0 0 1 10 1 1
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
33 34 39 41 39 42 56 52 56 68 82 96 93
Total Assets 43 45 50 51 49 53 69 66 65 78 105 130 128

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
5 3 0 1 4 -0 -1 3 -7 -1 -9 17
0 -2 -0 -1 -0 -1 -3 -1 7 -0 -14 -10
-1 -1 -1 -1 -1 -1 3 -0 -2 2 16 6
Net Cash Flow 4 1 -1 -0 3 -2 -1 1 -1 0 -7 13

Ratios

Figures in Rs. Crores

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 95 83 96 78 62 76 99 73 90 108 84 44
Inventory Days 23 30 28 31 30 31 28 26 44 45 46 36
Days Payable 110 109 120 104 89 101 122 82 125 149 125 75
Cash Conversion Cycle 8 3 4 5 3 6 4 17 9 4 6 6
Working Capital Days 29 24 33 36 25 35 37 35 37 36 26 20
ROCE % 12% 15% 15% 14% 12% 12% 16% 14% -2% 3% -4% 13%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
4.44% 4.44% 4.44% 4.44% 4.44% 4.44% 4.44% 4.44% 4.44% 4.44% 4.44% 4.44%
0.52% 0.52% 0.52% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
20.04% 20.04% 20.04% 20.56% 20.56% 20.56% 20.56% 20.56% 20.57% 20.56% 20.56% 20.56%
No. of Shareholders 1,5011,5181,5171,5461,5421,5771,6161,5601,4881,6041,6851,924

* 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.

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