Greaves Cotton Ltd

About [ edit ]

Greaves Cotton is engaged in manufacturing of engines, engine applications and trading of power tillers, spares related to engines, electric vehicles and infrastructure equipment etc.(Source : 202003 Annual Report Page No:98)

Key Points [ edit ]
  • Market Cap 3,225 Cr.
  • Current Price 140
  • High / Low 146 / 66.0
  • Stock P/E
  • Book Value 32.2
  • Dividend Yield 0.00 %
  • ROCE 18.2 %
  • ROE 13.9 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Promoter holding has increased by 0.81% over last quarter.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 2.39% over past five years.
  • Company's cost of borrowing seems high
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
458 495 522 541 492 512 520 386 156 329 495
397 422 451 473 434 457 448 363 183 314 445
Operating Profit 61 73 71 68 58 55 72 24 -27 16 49
OPM % 13% 15% 14% 13% 12% 11% 14% 6% -17% 5% 10%
Other Income 10 13 5 -4 7 11 9 -2 2 -29 -2
Interest 0 1 1 1 1 1 1 1 2 2 1
Depreciation 13 13 14 13 14 16 13 18 14 15 15
Profit before tax 58 72 61 50 51 49 67 3 -41 -31 31
Tax % 32% 32% 33% 33% 32% 11% 27% 79% 24% 28% 32%
Net Profit 40 49 41 35 36 44 49 1 -31 -22 21
EPS in Rs 1.63 2.02 1.70 1.43 1.46 1.80 2.12 0.02 -1.33 -0.97 0.90
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Jun 2009 Jun 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,065 1,392 1,281 1,789 1,906 1,736 1,698 1,616 1,634 1,792 2,015 1,911 1,366
957 1,182 1,086 1,573 1,669 1,577 1,505 1,358 1,405 1,538 1,764 1,707 1,304
Operating Profit 108 210 195 216 237 159 192 259 230 254 252 204 62
OPM % 10% 15% 15% 12% 12% 9% 11% 16% 14% 14% 12% 11% 5%
Other Income 13 7 13 84 16 65 -31 82 67 95 44 31 -31
Interest 24 14 1 4 2 5 2 1 1 1 4 5 7
Depreciation 28 31 24 42 41 45 48 46 47 52 52 61 62
Profit before tax 69 173 183 255 211 175 111 294 249 295 240 169 -39
Tax % 35% 32% 31% 26% 30% 30% 25% 32% 27% 32% 32% 25%
Net Profit 44 117 126 189 148 123 84 201 181 202 165 129 -32
EPS in Rs 1.82 4.81 5.17 7.74 6.06 5.05 3.42 8.23 7.40 8.28 6.74 5.59 -1.38
Dividend Payout % 44% 62% 29% 28% 26% 26% 73% 67% 74% 66% 59% 0%
Compounded Sales Growth
10 Years:6%
5 Years:2%
3 Years:5%
TTM:-34%
Compounded Profit Growth
10 Years:11%
5 Years:1%
3 Years:-7%
TTM:-105%
Stock Price CAGR
10 Years:5%
5 Years:2%
3 Years:5%
1 Year:7%
Return on Equity
10 Years:18%
5 Years:16%
3 Years:15%
Last Year:14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Jun 2009 Jun 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
49 49 49 49 49 49 49 49 49 49 49 46 46
Reserves 340 372 456 582 684 771 774 842 876 916 920 753 699
Borrowings 57 15 16 33 16 0 0 0 0 0 11 28 22
272 434 457 428 442 383 301 286 325 381 474 413 377
Total Liabilities 718 870 978 1,092 1,191 1,203 1,124 1,177 1,250 1,346 1,454 1,240 1,144
266 252 277 331 373 370 326 283 292 278 339 380 447
CWIP 17 28 9 20 8 5 8 24 15 28 72 69 20
Investments 34 98 53 94 92 181 293 362 411 506 420 3 3
401 491 638 647 718 647 497 507 532 535 624 788 674
Total Assets 718 870 978 1,092 1,191 1,203 1,124 1,177 1,250 1,346 1,454 1,240 1,144

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Jun 2009 Jun 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
14 179 110 113 108 155 225 230 114 280 145 102
24 -89 12 -62 -59 -108 -179 -70 36 -97 38 255
-49 -87 -83 -41 -78 -55 -60 -166 -148 -162 -174 -241
Net Cash Flow -11 3 39 10 -29 -8 -14 -6 2 20 10 116

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Jun 2009 Jun 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 21% 42% 36% 34% 30% 21% 21% 28% 23% 23% 24% 18%
Debtor Days 53 55 75 52 70 68 50 45 60 51 62 49
Inventory Turnover 4.91 6.18 5.14 6.69 7.45 7.05 8.64 9.82 9.04 10.24 11.47 8.11

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
51.00 51.00 51.00 51.65 51.90 51.90 51.90 54.81 54.82 54.82 54.82 55.63
6.72 6.92 12.16 12.99 14.02 14.87 14.56 15.01 15.64 14.34 11.29 5.01
18.93 19.89 17.48 15.85 15.62 15.67 15.96 14.12 13.43 13.13 12.15 14.24
23.35 22.19 19.35 19.51 18.46 17.57 17.58 16.05 16.11 17.71 21.74 25.12

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