Federal-Mogul Goetze (India) Ltd

₹ 309 0.10%
02 Dec - close price
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 ~36% market share(FY19) in the organized market of pistons/piston rings in India[1]
In FY20, It has 50% market share in aftermarket segment for Commercial Vehicle [2]
It is the leader in Diesel Pistons, Piston Rings, and Valve Seats & Guides segment in India [3]

  • Market Cap 1,718 Cr.
  • Current Price 309
  • High / Low 350 / 202
  • Stock P/E 22.7
  • Book Value 166
  • Dividend Yield 0.00 %
  • ROCE 10.2 %
  • ROE 6.55 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 0.97% over past five years.
  • Company has a low return on equity of 3.38% 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
259 279 234 98 276 357 376 319 344 325 356 402 429
234 244 207 139 239 291 313 282 302 289 307 355 376
Operating Profit 25 36 27 -41 37 66 63 36 42 36 49 47 54
OPM % 10% 13% 12% -42% 14% 18% 17% 11% 12% 11% 14% 12% 12%
3 2 3 2 4 3 -41 3 1 3 3 4 4
Interest 1 1 1 0 0 1 1 1 1 1 2 1 1
Depreciation 23 23 23 15 23 24 22 22 22 23 21 21 21
Profit before tax 5 13 6 -54 18 44 -0 16 20 15 29 29 35
Tax % -133% 26% 48% 25% 27% 18% -2,239% 28% 31% 27% 24% 26% 26%
Net Profit 11 10 3 -40 13 37 -4 12 14 11 22 21 26
EPS in Rs 1.66 1.46 0.41 -7.11 1.98 6.26 -1.03 1.94 2.22 1.84 3.71 3.58 4.45
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
933 1,165 1,198 1,157 1,578 1,329 1,279 1,325 1,342 1,085 1,107 1,343 1,512
818 1,017 1,092 1,012 1,390 1,152 1,064 1,097 1,115 953 979 1,177 1,326
Operating Profit 115 147 106 145 189 178 215 228 227 132 128 166 185
OPM % 12% 13% 9% 13% 12% 13% 17% 17% 17% 12% 12% 12% 12%
19 3 0 5 18 18 11 11 14 11 -33 7 13
Interest 12 23 27 25 33 26 17 7 6 4 3 5 5
Depreciation 52 57 65 69 93 78 79 77 86 93 84 87 85
Profit before tax 69 70 14 56 79 91 130 155 149 47 8 81 108
Tax % 30% 32% 87% 36% 36% 40% 36% 38% 36% 17% 37% 27%
Net Profit 49 48 2 36 51 55 84 96 96 39 5 59 81
EPS in Rs 7.19 7.11 -1.21 4.88 7.10 8.56 15.05 15.88 15.71 5.84 0.10 9.71 13.58
Dividend Payout % 8% 8% -58% 143% 123% 65% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: 1%
5 Years: 1%
3 Years: 0%
TTM: 8%
Compounded Profit Growth
10 Years: 3%
5 Years: -8%
3 Years: -14%
TTM: -6%
Stock Price CAGR
10 Years: 4%
5 Years: -11%
3 Years: -17%
1 Year: 28%
Return on Equity
10 Years: 7%
5 Years: 7%
3 Years: 3%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
56 56 56 56 56 56 56 56 56 56 56 56 56
Reserves 336 371 356 382 415 455 558 648 739 762 765 820 866
63 118 174 178 195 181 83 25 23 1 10 9 9
272 345 315 334 374 423 384 361 353 356 489 456 521
Total Liabilities 727 889 901 950 1,040 1,115 1,080 1,089 1,170 1,175 1,319 1,340 1,451
371 442 474 496 486 540 534 554 578 555 547 528 505
CWIP 36 37 38 33 57 32 48 35 28 42 29 48 73
Investments 10 11 -0 -0 -0 -0 0 0 0 0 0 2 2
310 400 389 421 496 543 499 500 563 578 743 762 872
Total Assets 727 889 901 950 1,040 1,115 1,080 1,089 1,170 1,175 1,319 1,340 1,451

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
99 101 79 115 126 192 159 138 133 191 152 111
-50 -133 -100 -89 -97 -115 -86 -72 -121 -81 -20 -130
-44 27 21 -25 -22 -46 -100 -69 -8 -32 -8 -8
Net Cash Flow 5 -4 1 1 8 32 -27 -3 4 78 124 -26

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 49 50 48 49 42 53 55 60 65 66 87 72
Inventory Days 127 134 124 153 139 166 177 178 195 208 185 140
Days Payable 178 196 147 166 142 183 173 160 161 211 287 230
Cash Conversion Cycle -2 -12 25 36 40 36 59 79 100 63 -15 -18
Working Capital Days 31 40 41 50 45 50 44 58 72 61 49 45
ROCE % 20% 19% 9% 14% 18% 18% 21% 23% 20% 6% 7% 10%

Shareholding Pattern

Numbers in percentages

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
74.98 96.82 96.82 96.82 95.66 94.91 75.00 74.98 74.98 74.98 74.98 74.98
0.30 0.02 0.02 0.02 0.00 0.01 0.11 0.11 0.07 0.02 0.04 0.21
8.64 0.01 0.01 0.01 0.01 0.01 1.81 1.57 1.63 1.92 1.87 1.48
16.08 3.15 3.16 3.16 4.33 5.07 23.08 23.33 23.32 23.07 23.11 23.32

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