Automotive Axles Ltd

Automotive Axles is primarily engaged in manufacturing of Axles and Brakes at Mysore, Rudrapur and Jamshedpur.(Source : 201903 Annual Report Page No: 77)

Pros:
Company is virtually debt free.
Company has good consistent profit growth of 57.11% over 5 years
Company has been maintaining a healthy dividend payout of 24.33%
Cons:
Company might be capitalizing the interest cost

Peer Comparison Sector: Auto Ancillaries // Industry: Auto Ancillaries

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Quarterly Results Figures in Rs. Crores

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
228 285 359 293 350 408 469 474 498 486 481 418
204 260 322 264 310 364 414 418 440 430 423 370
Operating Profit 24 26 37 28 39 44 55 56 59 56 59 49
OPM % 11% 9% 10% 10% 11% 11% 12% 12% 12% 11% 12% 12%
Other Income 1 1 0 1 2 1 1 1 1 1 0 -1
Interest 1 0 0 0 0 0 0 0 0 0 0 0
Depreciation 10 10 10 10 10 12 12 12 12 11 10 9
Profit before tax 15 16 27 20 31 34 44 44 47 45 49 38
Tax % 35% 34% 34% 34% 34% 34% 35% 34% 32% 32% 39% 36%
Net Profit 10 11 18 13 20 22 28 29 32 31 30 25
EPS in Rs 6.40 7.12 11.83 8.53 13.53 14.76 18.72 19.19 21.21 20.21 19.82 16.29
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Sep 2008 Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Sep 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
747 266 668 1,012 941 643 677 459 1,086 1,172 1,520 1,939 1,884
640 234 581 896 838 589 620 424 990 1,059 1,353 1,710 1,662
Operating Profit 107 32 87 117 102 54 57 35 96 114 167 229 222
OPM % 14% 12% 13% 12% 11% 8% 8% 8% 9% 10% 11% 12% 12%
Other Income 6 4 4 0 1 2 6 3 1 2 5 3 1
Interest 6 5 4 7 10 9 7 4 6 1 1 1 1
Depreciation 21 18 21 23 27 29 29 17 39 39 43 46 43
Profit before tax 85 13 66 87 67 19 26 16 52 75 128 185 180
Tax % 35% 24% 33% 34% 32% 32% 30% 36% 33% 34% 34% 34%
Net Profit 56 10 44 58 45 13 18 11 35 49 84 122 117
EPS in Rs 35.81 5.93 27.76 36.47 28.17 8.06 11.60 13.40 21.89 32.70 55.54 80.43 77.53
Dividend Payout % 18% 42% 29% 26% 34% 24% 21% 14% 24% 24% 24% 24%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:24.72%
3 Years:21.32%
TTM:10.78%
Compounded Profit Growth
10 Years:%
5 Years:57.11%
3 Years:50.83%
TTM:17.12%
Stock Price CAGR
10 Years:11.25%
5 Years:5.69%
3 Years:7.21%
1 Year:-26.11%
Return on Equity
10 Years:%
5 Years:16.15%
3 Years:20.30%
Last Year:24.72%

Balance Sheet Figures in Rs. Crores

Sep 2008 Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Sep 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
15 15 15 15 15 15 15 15 15 15 15 15
Reserves 155 160 189 229 256 265 279 287 312 361 429 523
Borrowings 72 45 71 62 56 51 92 62 30 0 0 73
115 78 101 185 167 94 139 156 169 191 290 322
Total Liabilities 357 298 375 491 494 425 525 521 526 568 734 933
161 145 133 146 176 183 166 177 168 146 118 109
CWIP 8 7 8 4 19 7 23 17 9 7 17 116
Investments 0 0 0 0 0 0 0 0 0 0 0 0
188 146 234 341 300 235 336 327 349 415 600 709
Total Assets 357 298 375 491 494 425 525 521 526 568 734 933

Cash Flows Figures in Rs. Crores

Sep 2008 Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Sep 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
98 35 -8 72 94 54 -6 92 57 97 51 98
-38 -2 -9 -40 -70 -24 -25 -18 -25 -23 -27 -149
-52 -44 17 -31 -33 -30 30 -70 -35 -40 -15 47
Net Cash Flow 8 -11 0 2 -9 -0 -0 3 -3 35 9 -4

Ratios Figures in Rs. Crores

Sep 2008 Sep 2009 Sep 2010 Sep 2011 Sep 2012 Sep 2013 Sep 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 39% 8% 28% 32% 24% 8% 9% 6% 16% 21% 31% 35%
Debtor Days 32 92 68 69 62 65 93 140 67 72 80 65
Inventory Turnover 9.13 3.61 8.89 10.10 9.21 7.03 6.67 4.49 9.52 11.00 12.77 12.06