GNA Axles Ltd

About

GNA Axles is engaged in the Business of manufactures auto components for the four-wheeler industry, primary product being Rear Axles, Shafts, Spindles & other Automobiles Components for sale in domestic and foreign market.

Key Points

Key Points
GNA Axles has a large variety of Axle Shafts ranging from 1.5kg to 65kg, producing about 2 million Axle Shafts annually. Its one of the largest producer. [1]

See full details
  • Market Cap 2,311 Cr.
  • Current Price 1,077
  • High / Low 1,112 / 225
  • Stock P/E 21.7
  • Book Value 241
  • Dividend Yield 0.23 %
  • ROCE 15.4 %
  • ROE 14.6 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter

Cons

  • The company has delivered a poor sales growth of 11.83% over past five years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 8.06% of profits over last 3 years
  • Company has high debtors of 179.68 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
227 246 242 258 256 214 181 81 222 276 310 329
191 207 204 217 216 190 162 76 180 228 262 274
Operating Profit 36 39 39 41 40 24 19 6 42 48 48 54
OPM % 16% 16% 16% 16% 16% 11% 10% 7% 19% 17% 16% 17%
Other Income 0 0 0 0 0 0 1 0 0 0 1 0
Interest 2 2 2 4 4 4 3 3 2 2 1 3
Depreciation 9 9 9 10 11 11 11 10 10 10 10 12
Profit before tax 25 27 28 28 26 10 6 -7 29 36 37 40
Tax % 36% 34% 37% 35% 13% 24% 24% 2% 22% 26% 26% 26%
Net Profit 16 18 18 18 22 8 5 -7 23 27 28 29
EPS in Rs 7.57 8.36 8.34 8.47 10.38 3.55 2.16 -3.07 10.68 12.41 12.87 13.72

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
509 513 670 928 909 890 1,137
426 433 567 783 784 746 945
Operating Profit 82 80 103 145 124 144 193
OPM % 16% 16% 15% 16% 14% 16% 17%
Other Income 0 3 3 0 1 2 2
Interest 16 13 7 8 14 9 9
Depreciation 27 24 25 35 42 41 43
Profit before tax 39 47 74 103 70 96 143
Tax % 34% 37% 31% 36% 24% 26%
Net Profit 26 30 51 66 53 71 107
EPS in Rs 17.10 13.78 23.69 30.67 24.57 32.90 49.68
Dividend Payout % 0% 0% 8% 9% 0% 15%
Compounded Sales Growth
10 Years:%
5 Years:12%
3 Years:10%
TTM:55%
Compounded Profit Growth
10 Years:%
5 Years:22%
3 Years:12%
TTM:281%
Stock Price CAGR
10 Years:%
5 Years:33%
3 Years:44%
1 Year:351%
Return on Equity
10 Years:%
5 Years:15%
3 Years:15%
Last Year:15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
15 21 21 21 21 21
Reserves 123 275 320 380 425 496
Borrowings 139 117 142 170 194 197
170 163 199 211 180 245
Total Liabilities 447 577 682 782 821 960
147 132 191 229 244 295
CWIP 0 3 0 16 61 0
Investments 0 0 0 0 0 0
299 443 492 538 515 665
Total Assets 447 577 682 782 821 960

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
74 -90 60 72 119 31
-16 -8 -78 -88 -123 -27
-58 98 19 16 4 -5
Net Cash Flow -0 -0 0 -0 -0 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 116 130 128 123 119 180
Inventory Days 105 126 132 96 90 100
Days Payable 177 174 157 113 102 150
Cash Conversion Cycle 44 82 103 107 106 130
Working Capital Days 82 116 131 116 118 156
ROCE % 17% 18% 21% 14% 15%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
65.86 65.86 66.19 65.15 66.50 66.50 67.41 67.48 67.51 67.51 67.51 67.52
0.63 0.62 0.44 0.43 0.36 0.36 0.71 0.71 1.13 1.13 1.48 2.03
13.57 13.76 13.30 13.09 13.25 13.35 14.10 13.19 12.97 12.45 11.10 10.14
19.94 19.76 20.07 21.33 19.89 19.79 17.78 18.63 18.39 18.91 19.91 20.32

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