Goodyear India Ltd

goodyear.co.in BSE: 500168 NSE : GOODYEAR
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Goodyear India is engaged in the business of manufacturing and trading of tyres, tubes and flaps with manufacturing facility at Ballabgarh, Haryana, India.

Website BSE NSE
  • Market Cap ₹ 2,259 Cr.
  • Current Price ₹ 979
  • High / Low ₹ 1,208 / 531
  • Stock P/E 21.4
  • Book Value ₹ 403
  • Dividend Yield 8.17 %
  • ROCE 13.4 %
  • ROE 9.97 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 8.17%.
  • Company has been maintaining a healthy dividend payout of 28.74%

Cons

  • The company has delivered a poor sales growth of 2.22% over past five years.
  • Company has a low return on equity of 12.93% for last 3 years.

Peer comparison

Sector: Tyres Industry: Tyres

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
381 535 489 464 424 490 454 426 375 227 481 514
346 495 444 430 379 446 406 406 352 225 408 440
Operating Profit 35 40 45 34 45 44 48 20 23 1 73 74
OPM % 9% 7% 9% 7% 11% 9% 10% 5% 6% 1% 15% 14%
Other Income 9 9 10 11 9 9 9 10 8 6 6 5
Interest 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 10 10 10 10 10 12 12 13 13 13 13 13
Profit before tax 34 38 44 34 42 40 43 16 17 -6 65 66
Tax % 35% 35% 35% 36% 36% 35% 12% 27% 26% 25% 25% 26%
Net Profit 22 25 29 22 27 26 38 12 13 -4 49 49
EPS in Rs 9.53 10.74 12.46 9.40 11.64 11.38 16.38 5.15 5.51 -1.95 21.05 21.23
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
920 993 1,272 1,489 1,461 1,546 1,564 1,730 1,512 1,665 1,912 1,746 1,597
867 870 1,159 1,381 1,370 1,407 1,408 1,534 1,312 1,463 1,747 1,610 1,425
Operating Profit 53 123 113 108 91 139 156 196 200 202 164 136 173
OPM % 6% 12% 9% 7% 6% 9% 10% 11% 13% 12% 9% 8% 11%
Other Income 14 5 17 13 21 30 29 38 33 37 38 35 25
Interest 3 4 4 5 4 2 3 3 3 3 3 4 4
Depreciation 11 13 15 20 24 25 29 46 34 36 41 50 53
Profit before tax 52 111 111 96 85 142 154 184 196 199 158 117 142
Tax % 38% 34% 33% 33% 33% 34% 34% 35% 35% 35% 35% 24%
Net Profit 32 73 75 65 56 94 101 120 127 130 102 89 106
EPS in Rs 13.96 31.69 32.43 28.00 24.42 40.78 43.89 51.92 55.22 56.34 44.25 38.51 45.84
Dividend Payout % 43% 22% 22% 25% 29% 22% 23% 23% 23% 23% 29% 34%
Compounded Sales Growth
10 Years:6%
5 Years:2%
3 Years:5%
TTM:-11%
Compounded Profit Growth
10 Years:2%
5 Years:-3%
3 Years:-11%
TTM:3%
Stock Price CAGR
10 Years:14%
5 Years:16%
3 Years:-6%
1 Year:11%
Return on Equity
10 Years:18%
5 Years:15%
3 Years:13%
Last Year:10%

Balance Sheet

Figures in Rs. Crores

Corporate actions
Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
23 23 23 23 23 23 23 23 23 23 23 23 23
Reserves 138 192 248 293 331 400 474 591 684 779 844 893 907
Borrowings 0 0 0 0 0 0 0 0 0 0 0 15 17
207 267 322 382 388 436 395 310 382 495 463 376 414
Total Liabilities 368 482 593 699 742 859 892 924 1,090 1,298 1,331 1,307 1,361
115 120 139 190 198 210 240 221 227 246 251 316 305
CWIP 13 36 59 20 17 32 17 29 31 26 50 15 14
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
240 325 395 489 527 617 635 674 831 1,025 1,029 976 1,042
Total Assets 368 482 593 699 742 859 892 924 1,090 1,298 1,331 1,307 1,361

Cash Flows

Figures in Rs. Crores

Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
30 145 146 84 26 131 99 9 168 182 57 65
-21 -22 -65 35 -178 -121 116 -133 -12 -22 -36 -96
-18 -19 -21 -23 -23 -21 -27 -31 -37 -37 -39 -45
Net Cash Flow -9 104 59 96 -174 -11 188 -155 120 123 -18 -76

Ratios

Figures in Rs. Crores

Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 36% 61% 47% 35% 26% 37% 34% 34% 30% 27% 19% 13%
Debtor Days 40 36 28 32 39 39 26 34 38 46 46 46
Inventory Turnover 10.94 11.75 17.23 15.88 11.99 11.35 10.23 9.28 6.71 6.73 8.28 7.92

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
74.00 74.00 74.00 74.00 74.00 74.00 74.00 74.00 74.00 74.00 74.00 74.00
2.36 2.36 2.36 2.36 2.36 2.36 2.36 2.27 2.08 2.08 2.03 1.73
6.27 6.26 6.26 6.26 6.76 6.94 7.52 7.74 7.78 7.60 7.56 8.15
17.37 17.38 17.38 17.38 16.88 16.70 16.12 15.99 16.14 16.32 16.41 16.12

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