Automotive Axles Ltd
Automotive Axles was established in 1981 as a JV of Kalyani Group (35.5% ownership) and Meritor Inc, USA (35.5% ownership). [1]
The Company is engaged in the business of manufacturing and supplying Automotive Parts to the major domestic and global manufacturers of Trucks & Buses (LCV, MCV, HCV, Military & Off-highway Vehicle Segment). [2]
- Market Cap ₹ 3,339 Cr.
- Current Price ₹ 2,210
- High / Low ₹ 2,693 / 1,871
- Stock P/E 18.1
- Book Value ₹ 525
- Dividend Yield 1.45 %
- ROCE 30.8 %
- ROE 23.4 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 30.1%
Cons
* 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
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Sep 2012 | Sep 2013 | Sep 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
941 | 643 | 677 | 459 | 1,086 | 1,172 | 1,520 | 1,939 | 952 | 906 | 1,491 | 2,324 | 2,465 | |
838 | 589 | 620 | 424 | 990 | 1,059 | 1,353 | 1,710 | 859 | 840 | 1,356 | 2,066 | 2,185 | |
Operating Profit | 102 | 54 | 57 | 35 | 96 | 114 | 167 | 229 | 93 | 66 | 135 | 257 | 280 |
OPM % | 11% | 8% | 8% | 8% | 9% | 10% | 11% | 12% | 10% | 7% | 9% | 11% | 11% |
1 | 2 | 6 | 3 | 1 | 2 | 5 | 3 | 6 | 3 | 4 | 5 | 9 | |
Interest | 10 | 9 | 7 | 4 | 6 | 1 | 1 | 1 | 2 | 3 | 2 | 3 | 3 |
Depreciation | 27 | 29 | 29 | 17 | 39 | 39 | 43 | 46 | 37 | 36 | 36 | 41 | 39 |
Profit before tax | 67 | 19 | 26 | 16 | 52 | 75 | 128 | 185 | 60 | 30 | 100 | 218 | 247 |
Tax % | 32% | 32% | 30% | 36% | 33% | 34% | 34% | 34% | 31% | 25% | 26% | 26% | |
45 | 13 | 18 | 11 | 35 | 49 | 84 | 122 | 41 | 23 | 74 | 162 | 184 | |
EPS in Rs | 29.79 | 8.40 | 12.03 | 6.97 | 23.01 | 32.70 | 55.54 | 80.43 | 27.22 | 15.04 | 49.21 | 107.22 | 122.03 |
Dividend Payout % | 34% | 24% | 21% | 14% | 24% | 24% | 24% | 24% | 25% | 30% | 30% | 30% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 9% |
3 Years: | 35% |
TTM: | 30% |
Compounded Profit Growth | |
---|---|
10 Years: | 13% |
5 Years: | 14% |
3 Years: | 57% |
TTM: | 55% |
Stock Price CAGR | |
---|---|
10 Years: | 25% |
5 Years: | 10% |
3 Years: | 34% |
1 Year: | 12% |
Return on Equity | |
---|---|
10 Years: | 14% |
5 Years: | 15% |
3 Years: | 14% |
Last Year: | 23% |
Balance Sheet
Figures in Rs. Crores
Sep 2012 | Sep 2013 | Sep 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
Reserves | 256 | 265 | 279 | 287 | 312 | 361 | 429 | 523 | 517 | 539 | 606 | 744 | 778 |
56 | 51 | 92 | 62 | 30 | 0 | 0 | 73 | 35 | 29 | 23 | 28 | 25 | |
167 | 94 | 139 | 156 | 169 | 189 | 290 | 322 | 161 | 364 | 401 | 369 | 336 | |
Total Liabilities | 494 | 425 | 525 | 521 | 526 | 566 | 734 | 933 | 728 | 947 | 1,045 | 1,157 | 1,155 |
176 | 183 | 166 | 177 | 168 | 146 | 118 | 109 | 255 | 245 | 259 | 245 | 236 | |
CWIP | 19 | 7 | 23 | 17 | 9 | 7 | 17 | 116 | 24 | 32 | 3 | 6 | 5 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 17 | 0 | 65 |
300 | 235 | 336 | 327 | 349 | 413 | 600 | 709 | 449 | 658 | 766 | 905 | 848 | |
Total Assets | 494 | 425 | 525 | 521 | 526 | 566 | 734 | 933 | 728 | 947 | 1,045 | 1,157 | 1,155 |
Cash Flows
Figures in Rs. Crores
Sep 2012 | Sep 2013 | Sep 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
94 | 54 | -6 | 92 | 57 | 97 | 51 | 106 | 198 | 49 | 43 | 52 | |
-70 | -24 | -25 | -18 | -25 | -23 | -27 | -157 | -59 | -40 | -27 | -84 | |
-33 | -30 | 30 | -70 | -35 | -40 | -15 | 47 | -105 | -10 | -15 | -31 | |
Net Cash Flow | -9 | -0 | -0 | 3 | -3 | 35 | 9 | -4 | 34 | -1 | 2 | -63 |
Ratios
Figures in Rs. Crores
Sep 2012 | Sep 2013 | Sep 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 62 | 65 | 93 | 140 | 67 | 72 | 80 | 65 | 47 | 114 | 95 | 78 |
Inventory Days | 51 | 71 | 89 | 129 | 52 | 45 | 47 | 50 | 88 | 116 | 68 | 50 |
Days Payable | 62 | 52 | 71 | 149 | 64 | 75 | 88 | 70 | 65 | 168 | 114 | 69 |
Cash Conversion Cycle | 51 | 84 | 110 | 119 | 55 | 42 | 39 | 45 | 70 | 62 | 49 | 60 |
Working Capital Days | 48 | 79 | 102 | 132 | 61 | 56 | 59 | 53 | 69 | 78 | 65 | 74 |
ROCE % | 24% | 8% | 9% | 6% | 16% | 21% | 31% | 35% | 11% | 6% | 17% | 31% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 1 Dec
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
30 Nov - Management interactions and plant visit with the Investors / Financial Institutions have been Scheduled with the Company on Tuesday, 5th December 2023 at the Registered …
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 28 Nov
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Announcement under Regulation 30 (LODR)-Newspaper Publication
27 Nov - For Postal Ballot Notice & e-voting information.
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 24 Nov
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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Concalls
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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May 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Feb 2022TranscriptNotesPPT
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Feb 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Aug 2021TranscriptNotesPPT
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May 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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Feb 2019TranscriptNotesPPT
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Nov 2018Transcript PPT
Brand & Customer
The co. is the largest independent axle manufacturer and the 2nd-largest brake manufacturer in India. [1]
The Company has a strong customer base which includes companies like Ashok Leyland, Daimler India, Mahindra & Mahindra, Tata Motors, Volvo Eicher, and many more. [2]
Ashok Leyland accounted for ~57% of co.’s revenues in FY21, up from ~52% in FY20. [3]