Federal-Mogul Goetze (India) Ltd

Federal-Mogul Go Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Federal-Mogul Goetze (India) Ltd

₹ 319 -0.27%
30 May - close price
federalmogulgoetzeindia.net BSE: 505744 NSE : FMGOETZE
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] In FY20, it had a 50% market share in the aftermarket segment for Commercial Vehicle. [2]
It is the leader in Diesel Pistons, Piston Rings, and Valve Seats & Guides segment in India. [3]

Website BSE NSE
  • Market Cap ₹ 1,776 Cr.
  • Current Price ₹ 319
  • High / Low ₹ 350 / 266
  • Stock P/E 17.6
  • Book Value ₹ 176
  • Dividend Yield 0.00 %
  • ROCE 15.5 %
  • ROE 10.9 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company's working capital requirements have reduced from 39.6 days to 24.8 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 4.28% over past five years.
  • Company has a low return on equity of 5.82% 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.

Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
234 98 276 357 376 319 344 325 356 402 429 393 410
207 139 239 291 313 282 302 289 307 355 376 338 356
Operating Profit 27 -41 37 66 63 36 42 36 49 47 54 55 53
OPM % 12% -42% 14% 18% 17% 11% 12% 11% 14% 12% 12% 14% 13%
3 2 4 3 -41 3 1 3 3 4 4 4 8
Interest 1 0 0 1 1 1 1 1 2 1 1 1 1
Depreciation 23 15 23 24 22 22 22 23 21 21 21 21 20
Profit before tax 6 -54 18 44 -0 16 20 15 29 29 35 37 40
Tax % 48% 25% 27% 18% -2,239% 28% 31% 27% 24% 26% 26% 30% 15%
Net Profit 3 -40 13 37 -4 12 14 11 22 21 26 26 34
EPS in Rs 0.41 -7.11 1.98 6.26 -1.03 1.94 2.22 1.84 3.71 3.58 4.45 4.40 5.70
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1,165 1,198 1,157 1,578 1,329 1,279 1,325 1,342 1,085 1,107 1,343 1,634
1,017 1,092 1,012 1,390 1,152 1,064 1,097 1,115 953 979 1,177 1,425
Operating Profit 147 106 145 189 178 215 228 227 132 128 166 209
OPM % 13% 9% 13% 12% 13% 17% 17% 17% 12% 12% 12% 13%
3 0 5 18 18 11 11 14 11 -33 7 19
Interest 23 27 25 33 26 17 7 6 4 3 5 4
Depreciation 57 65 69 93 78 79 77 86 93 84 87 84
Profit before tax 70 14 56 79 91 130 155 149 47 8 81 141
Tax % 32% 87% 36% 36% 40% 36% 38% 36% 17% 37% 27% 24%
Net Profit 48 2 36 51 55 84 96 96 39 5 59 107
EPS in Rs 7.11 -1.21 4.88 7.10 8.56 15.05 15.88 15.71 5.84 0.10 9.71 18.13
Dividend Payout % 8% -58% 143% 123% 65% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 3%
5 Years: 4%
3 Years: 15%
TTM: 22%
Compounded Profit Growth
10 Years: 43%
5 Years: 3%
3 Years: 45%
TTM: 81%
Stock Price CAGR
10 Years: 5%
5 Years: -6%
3 Years: -8%
1 Year: 17%
Return on Equity
10 Years: 8%
5 Years: 7%
3 Years: 6%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
56 56 56 56 56 56 56 56 56 56 56 56
Reserves 371 356 382 415 455 558 648 739 762 765 820 924
118 174 178 195 181 83 25 23 1 10 9 8
345 315 334 374 423 384 361 353 356 489 456 499
Total Liabilities 889 901 950 1,040 1,115 1,080 1,089 1,170 1,175 1,319 1,340 1,487
442 474 496 486 540 534 554 578 555 547 528 508
CWIP 37 38 33 57 32 48 35 28 42 29 48 85
Investments 11 0 0 0 0 0 0 0 0 0 2 2
400 389 421 496 543 499 500 563 578 743 762 893
Total Assets 889 901 950 1,040 1,115 1,080 1,089 1,170 1,175 1,319 1,340 1,487

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
101 79 115 126 192 159 138 133 191 152 111 210
-133 -100 -89 -97 -115 -86 -72 -121 -81 -20 -130 -58
27 21 -25 -22 -46 -100 -69 -8 -32 -8 -8 -8
Net Cash Flow -4 1 1 8 32 -27 -3 4 78 124 -26 144

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 50 48 49 42 53 55 60 65 66 87 72 61
Inventory Days 134 124 153 139 166 177 178 195 208 185 140 110
Days Payable 196 147 166 142 183 173 160 161 211 287 230 192
Cash Conversion Cycle -12 25 36 40 36 59 79 100 63 -15 -18 -21
Working Capital Days 40 41 50 45 50 44 58 72 61 49 45 25
ROCE % 19% 9% 14% 18% 18% 21% 23% 20% 6% 7% 10% 15%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
96.82 96.82 95.66 94.91 75.00 74.98 74.98 74.98 74.98 74.98 74.98 74.98
0.02 0.02 0.00 0.01 0.11 0.11 0.07 0.02 0.04 0.21 0.14 0.18
0.01 0.01 0.01 0.01 1.81 1.57 1.63 1.92 1.87 1.48 1.43 1.43
3.16 3.16 4.33 5.07 23.08 23.33 23.32 23.07 23.11 23.32 23.43 23.39

* 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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