Atul Auto Ltd

Atul Auto is a manufacturer of three-wheeled commercial vehicles in the state of Gujarat. The Company is a three-wheeler manufacturer of auto rickshaws, pick-up vans and chassis of passenger vehicles.

Pros:
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 21.57%
Company has been maintaining a healthy dividend payout of 22.21%
Cons:
The company has delivered a poor growth of 9.16% over past five years.

Peer Comparison Sector: Automobile // Industry: Automobiles - Scooters And 3 - Wheelers

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
135 104 117 160 129 151 137 176 186 167 148 172
116 94 105 133 113 133 122 154 161 148 130 152
Operating Profit 19 10 12 27 16 18 15 23 25 19 18 20
OPM % 14% 10% 10% 17% 12% 12% 11% 13% 13% 11% 12% 12%
Other Income 1 0 1 1 0 1 2 2 2 0 1 1
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 1 1 2 2
Profit before tax 18 9 11 26 15 18 16 23 25 18 17 19
Tax % 35% 30% 30% 35% 33% 34% 35% 36% 36% 34% 35% 7%
Net Profit 12 6 8 17 10 12 10 15 16 12 11 18
EPS in Rs 5.51 2.91 3.56 7.74 4.42 5.33 4.70 6.80 7.34 5.37 5.13 8.07
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
80 117 120 202 299 364 430 493 531 475 556 667 673
74 115 107 183 272 324 385 435 455 416 483 585 591
Operating Profit 6 2 13 19 26 40 45 58 76 60 73 81 82
OPM % 7% 2% 11% 10% 9% 11% 11% 12% 14% 13% 13% 12% 12%
Other Income 1 4 1 1 2 2 3 8 1 2 3 7 4
Interest 3 3 3 2 1 0 0 1 1 1 0 1 1
Depreciation 2 2 4 4 4 4 5 6 5 5 5 6 6
Profit before tax 2 1 7 14 23 37 43 59 72 56 69 82 79
Tax % 34% 23% 36% 32% 33% 30% 30% 32% 34% 34% 33% 35%
Net Profit 1 0 5 9 16 26 30 41 47 37 46 53 57
EPS in Rs 6.64 11.09 12.69 17.12 20.11 16.32 21.05 24.21 25.91
Dividend Payout % 22% 66% 27% 26% 24% 26% 28% 28% 25% 25% 25% 17%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:18.96%
5 Years:9.16%
3 Years:7.88%
TTM:13.40%
Compounded Profit Growth
10 Years:64.64%
5 Years:11.61%
3 Years:2.92%
TTM:21.92%
Stock Price CAGR
10 Years:31.78%
5 Years:-11.22%
3 Years:-18.02%
1 Year:-32.76%
Return on Equity
10 Years:26.96%
5 Years:25.44%
3 Years:21.57%
Last Year:21.43%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
6 6 6 6 8 11 11 11 11 11 11 11 11
Reserves 21 24 28 34 49 63 83 110 143 173 208 248 273
Borrowings 34 32 23 6 4 0 0 0 0 0 0 0 2
13 16 21 28 37 49 50 57 68 62 81 96 105
Total Liabilities 73 78 77 75 97 123 145 178 222 246 300 354 391
30 30 42 42 40 43 53 79 85 87 87 94 94
CWIP 10 15 1 0 2 5 1 0 3 3 5 37 68
Investments 2 2 2 2 1 1 1 1 1 24 59 23 31
31 31 32 30 54 74 90 97 134 132 150 201 200
Total Assets 73 78 77 75 97 123 145 178 222 246 300 354 391

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
8 7 10 14 20 41 24 28 11 71 26 35
-10 -7 -2 -1 -6 -10 -11 -36 -10 -29 -39 -28
2 2 -8 -12 -5 -4 -13 -11 -14 -14 -11 -14
Net Cash Flow 0 1 -0 1 9 27 1 -19 -13 28 -24 -7

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 8% 5% 17% 31% 45% 56% 51% 54% 52% 32% 34% 33%
Debtor Days 18 11 14 10 7 7 11 24 52 36 51 55
Inventory Turnover 3.98 6.35 6.61 10.71 12.20 13.79 18.57 19.96 17.49 13.40 13.52 12.89