Automotive Axles Ltd

Automotive Axles Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Automotive Axles Ltd

₹ 1,855 -0.03%
19 Apr - close price
autoaxle.com BSE: 505010 NSE : AUTOAXLES
About

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]

Key Points

Brand & Customer
Co. is the largest independent axle manufacturer and 2nd-largest brake manufacturer in India. [1]
They have 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]

Website BSE NSE
  • Market Cap ₹ 2,803 Cr.
  • Current Price ₹ 1,855
  • High / Low ₹ 2,693 / 1,742
  • Stock P/E 16.2
  • Book Value ₹ 525
  • Dividend Yield 1.73 %
  • ROCE 30.8 %
  • ROE 23.4 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • 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

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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
272 426 255 309 374 552 500 475 656 693 532 584 541
247 381 239 287 339 490 449 424 578 615 473 518 483
Operating Profit 25 45 16 22 35 62 52 50 78 78 59 66 58
OPM % 9% 11% 6% 7% 9% 11% 10% 11% 12% 11% 11% 11% 11%
2 1 1 1 2 0 1 1 1 1 2 4 4
Interest 1 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 9 9 8 9 9 10 10 10 10 10 9 9 9
Profit before tax 17 36 8 14 27 52 42 41 68 68 51 60 53
Tax % 24% 27% 28% 27% 26% 25% 27% 26% 25% 25% 26% 25% 26%
13 27 6 10 20 39 30 30 51 51 38 45 39
EPS in Rs 8.73 17.58 3.69 6.71 13.10 25.70 20.12 19.94 33.54 33.62 25.03 29.84 25.91
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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 2,351
838 589 620 424 990 1,059 1,353 1,710 859 840 1,356 2,066 2,090
Operating Profit 102 54 57 35 96 114 167 229 93 66 135 257 260
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 12
Interest 10 9 7 4 6 1 1 1 2 3 2 3 2
Depreciation 27 29 29 17 39 39 43 46 37 36 36 41 38
Profit before tax 67 19 26 16 52 75 128 185 60 30 100 218 232
Tax % 32% 32% 30% 36% 33% 34% 34% 34% 31% 25% 26% 26%
45 13 18 11 35 49 84 122 41 23 74 162 173
EPS in Rs 29.79 8.40 12.03 6.97 23.01 32.70 55.54 80.43 27.22 15.04 49.21 107.22 114.40
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: 8%
Compounded Profit Growth
10 Years: 13%
5 Years: 14%
3 Years: 57%
TTM: 15%
Stock Price CAGR
10 Years: 18%
5 Years: 9%
3 Years: 23%
1 Year: -21%
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%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04%
0.74% 0.66% 0.83% 1.43% 1.08% 1.35% 0.74% 0.71% 0.73% 0.70% 0.67% 0.63%
12.38% 14.34% 13.64% 13.50% 14.45% 13.31% 13.21% 13.88% 13.53% 12.47% 12.00% 11.96%
15.84% 13.96% 14.49% 14.03% 13.43% 14.30% 15.02% 14.37% 14.71% 15.81% 16.31% 16.38%
No. of Shareholders 16,61316,74319,94418,93517,80618,27319,99319,66126,82031,76937,15234,527

* 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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