Goodyear India Ltd

₹ 1,029 -0.05%
28 Jun - close price
About

Goodyear India is engaged in the business of manufacturing and trading of tyres, tubes, and flaps
It is a leading player in the India farm tyre market[1]

Key Points

Product
It manufactures farm tyres, commercial truck tyres, tubes, and flaps. It trades in “Goodyear'' passenger car tyres (Radial) for Consumer business. It also serves in Passenger Vehicle Segment [1]
In FY20, its consumer replacement business delivered an above industry performance [1]

  • Market Cap 2,374 Cr.
  • Current Price 1,029
  • High / Low 1,332 / 783
  • Stock P/E 23.1
  • Book Value 310
  • Dividend Yield 1.94 %
  • ROCE 18.0 %
  • ROE 13.2 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 186.45%

Cons

  • The company has delivered a poor sales growth of 10.01% over past five years.
  • Company has a low return on equity of 12.88% for 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: Tyres Industry: Tyres

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Quarterly Results

Figures in Rs. Crores

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
490 454 426 375 227 481 514 569 534 698 605 598
446 406 406 352 225 408 440 502 489 638 571 565
Operating Profit 44 48 20 23 1 73 74 67 45 60 34 34
OPM % 9% 10% 5% 6% 1% 15% 14% 12% 8% 9% 6% 6%
9 9 10 8 6 6 5 5 6 6 7 5
Interest 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 12 12 13 13 13 13 13 13 13 13 13 13
Profit before tax 40 43 16 17 -6 65 66 58 36 53 27 23
Tax % 35% 12% 27% 26% 25% 25% 26% 26% 25% 25% 27% 25%
Net Profit 26 38 12 13 -4 49 49 43 27 39 19 17
EPS in Rs 11.38 16.38 5.15 5.51 -1.95 21.05 21.23 18.74 11.66 16.98 8.43 7.54

Profit & Loss

Figures in Rs. Crores

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
1,272 1,489 1,461 1,546 1,564 1,730 1,512 1,665 1,912 1,746 1,792 2,436
1,159 1,381 1,370 1,407 1,408 1,534 1,312 1,463 1,747 1,610 1,575 2,264
Operating Profit 113 108 91 139 156 196 200 202 164 136 217 172
OPM % 9% 7% 6% 9% 10% 11% 13% 12% 9% 8% 12% 7%
17 13 21 30 29 38 33 37 38 35 23 23
Interest 4 5 4 2 3 3 3 3 3 4 3 4
Depreciation 15 20 24 25 29 46 34 36 41 50 53 53
Profit before tax 111 96 85 142 154 184 196 199 158 117 183 138
Tax % 33% 33% 33% 34% 34% 35% 35% 35% 35% 24% 26% 26%
Net Profit 75 65 56 94 101 120 127 130 102 89 136 103
EPS in Rs 32.43 28.00 24.42 40.78 43.89 51.92 55.22 56.34 44.25 38.51 59.07 44.61
Dividend Payout % 22% 25% 29% 22% 23% 23% 23% 23% 29% 34% 301% 224%
Compounded Sales Growth
10 Years: 5%
5 Years: 10%
3 Years: 8%
TTM: 36%
Compounded Profit Growth
10 Years: 5%
5 Years: -4%
3 Years: 0%
TTM: -24%
Stock Price CAGR
10 Years: 13%
5 Years: 3%
3 Years: 2%
1 Year: -5%
Return on Equity
10 Years: 16%
5 Years: 14%
3 Years: 13%
Last Year: 13%

Balance Sheet

Figures in Rs. Crores

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
23 23 23 23 23 23 23 23 23 23 23 23
Reserves 248 293 331 400 474 591 684 779 844 893 816 692
0 0 0 0 0 0 0 0 0 15 14 17
322 382 388 436 395 310 382 495 463 376 537 634
Total Liabilities 593 699 742 859 892 924 1,090 1,298 1,331 1,307 1,391 1,365
139 190 198 210 240 221 227 246 251 316 312 317
CWIP 59 20 17 32 17 29 31 26 50 15 16 33
Investments 0 0 0 0 0 0 0 0 0 0 0 0
395 489 527 617 635 674 831 1,025 1,029 976 1,063 1,015
Total Assets 593 699 742 859 892 924 1,090 1,298 1,331 1,307 1,391 1,365

Cash Flows

Figures in Rs. Crores

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
146 84 26 131 99 9 168 182 57 65 294 89
-65 35 -178 -121 116 -133 -12 -22 -36 -96 87 -50
-21 -23 -23 -21 -27 -31 -37 -37 -39 -45 -223 -236
Net Cash Flow 59 96 -174 -11 188 -155 120 123 -18 -76 158 -197

Ratios

Figures in Rs. Crores

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 28 32 39 39 26 34 38 46 46 46 55 38
Inventory Days 24 28 35 32 41 42 65 57 46 46 41 63
Days Payable 70 83 87 94 82 65 101 128 94 82 126 101
Cash Conversion Cycle -18 -23 -14 -23 -15 10 2 -25 -2 10 -29 -1
Working Capital Days -39 -31 -22 -28 -25 8 -0 -11 0 10 -18 -5
ROCE % 47% 35% 26% 37% 34% 34% 30% 27% 19% 13% 21% 18%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
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 2.27 2.08 2.08 2.03 1.73 1.75 0.82 0.77 0.79 0.83
6.94 7.52 7.74 7.78 7.60 7.56 8.15 7.80 7.49 7.44 7.03 7.02
16.70 16.12 15.99 16.14 16.32 16.41 16.12 16.45 17.69 17.79 18.18 18.15

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