Federal-Mogul Goetze (India) Ltd

Federal-Mogul Goetze (India) Ltd

₹ 321 1.84%
28 Mar 2:10 p.m.
About

Federal-Mogul Goetze (India) Ltd manufactures, supplies, and distributes automotive components like pistons, piston rings, etc to two/three/four-wheeler automobiles in Indian and International markets.
It was established in 1954 as a joint venture with Goetze-Werke of Germany. Goetze- Werke is owned by Federal-Mogul.
Presently, It operates as a subsidiary of Tenneco Inc, post-Tenneco’s acquisition of Federal-Mogul. [1]

Key Points

Market Share
It is the second-largest player with more than 30% market share (FY21) in India's organized market of pistons/piston rings. [1]

  • Market Cap 1,786 Cr.
  • Current Price 321
  • High / Low 432 / 299
  • Stock P/E 15.4
  • Book Value 175
  • Dividend Yield 0.00 %
  • ROCE 15.5 %
  • ROE 11.4 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company's working capital requirements have reduced from 35.5 days to 19.4 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 4.29% over past five years.
  • Company has a low return on equity of -39.1% 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

Standalone Figures in Rs. Crores / View Consolidated

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
350 371 315 336 320 351 396 422 387 403 405 436 409
293 316 285 301 291 310 357 377 339 358 356 380 368
Operating Profit 58 55 30 34 29 41 39 46 48 45 49 55 41
OPM % 16% 15% 9% 10% 9% 12% 10% 11% 12% 11% 12% 13% 10%
6 -38 5 7 5 5 6 10 6 10 9 13 12
Interest 1 1 1 1 1 2 1 1 1 1 1 1 1
Depreciation 22 21 21 21 20 20 19 19 20 19 19 19 19
Profit before tax 40 -4 14 19 13 25 25 35 33 36 37 48 32
Tax % 17% -63% 27% 27% 26% 23% 26% 24% 30% 19% 23% 26% 26%
33 -7 10 14 10 19 19 27 23 29 29 36 23
EPS in Rs 5.95 -1.26 1.80 2.52 1.73 3.43 3.36 4.78 4.16 5.17 5.16 6.38 4.22
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,150 1,178 1,136 1,535 1,329 1,256 1,304 1,319 1,066 1,087 1,322 1,609 1,653
1,039 1,113 1,033 1,397 1,187 1,071 1,111 1,127 962 983 1,185 1,428 1,462
Operating Profit 110 65 103 138 142 184 193 192 104 104 137 180 190
OPM % 10% 6% 9% 9% 11% 15% 15% 15% 10% 10% 10% 11% 12%
17 13 21 36 34 26 24 28 23 -20 20 31 44
Interest 25 30 27 37 28 21 11 9 5 3 5 5 4
Depreciation 54 62 66 89 75 76 73 82 89 80 81 77 77
Profit before tax 49 -14 30 47 72 113 133 128 33 1 71 129 153
Tax % 23% -18% 32% 34% 39% 34% 38% 36% 10% -36% 26% 25%
37 -16 21 31 44 74 83 83 30 1 53 97 116
EPS in Rs 6.73 -2.94 3.70 5.64 7.91 13.33 14.91 14.83 5.36 0.14 9.48 17.48 20.93
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 3%
5 Years: 4%
3 Years: 15%
TTM: 6%
Compounded Profit Growth
10 Years: 29%
5 Years: 3%
3 Years: 47%
TTM: 33%
Stock Price CAGR
10 Years: 6%
5 Years: -11%
3 Years: 4%
1 Year: 4%
Return on Equity
10 Years: -9%
5 Years: -22%
3 Years: -39%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 56 56 56 56 56 56 56 56 56 56 56 56 56
Reserves 360 343 364 395 435 507 592 678 698 702 755 856 920
153 194 207 226 201 116 68 67 1 10 9 8 9
289 263 277 311 367 325 303 289 281 407 383 430 432
Total Liabilities 857 856 904 988 1,059 1,003 1,019 1,089 1,037 1,174 1,203 1,349 1,416
425 460 474 468 521 517 514 541 521 511 487 463 474
CWIP 37 36 33 56 32 24 33 28 36 21 34 76 71
Investments 21 5 5 5 5 5 5 5 5 5 7 7 7
375 355 392 459 501 457 467 515 475 637 675 803 864
Total Assets 857 856 904 988 1,059 1,003 1,019 1,089 1,037 1,174 1,203 1,349 1,416

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
82 79 96 108 188 134 130 116 180 127 110 200
-125 -94 -80 -88 -104 -57 -76 -101 -87 -22 -111 -52
43 13 -14 -15 -53 -100 -59 -8 -74 -4 -5 -5
Net Cash Flow -0 -2 2 4 32 -23 -5 7 19 101 -7 143

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 48 47 47 41 50 54 58 63 63 86 71 60
Inventory Days 115 107 132 126 140 157 155 169 179 160 122 98
Days Payable 170 137 155 142 180 159 151 150 191 257 216 187
Cash Conversion Cycle -7 17 23 26 10 51 62 82 50 -10 -22 -29
Working Capital Days 39 38 46 40 38 40 52 66 55 47 41 19
ROCE % 15% 4% 10% 13% 15% 20% 21% 18% 5% 6% 10% 15%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
94.91% 75.00% 74.98% 74.98% 74.98% 74.98% 74.98% 74.98% 74.98% 74.98% 74.98% 74.98%
0.01% 0.11% 0.11% 0.07% 0.02% 0.04% 0.21% 0.14% 0.18% 0.49% 0.63% 0.45%
0.01% 1.81% 1.57% 1.63% 1.92% 1.87% 1.48% 1.43% 1.43% 1.43% 1.13% 1.13%
5.07% 23.08% 23.33% 23.32% 23.07% 23.11% 23.32% 23.43% 23.39% 23.09% 23.24% 23.42%
No. of Shareholders 18,53431,58335,00634,81532,16230,20328,20326,43025,80031,15732,03835,212

* 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.

Click on the line-items to see the names of individual entities.

Documents

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