Greaves Cotton Ltd
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)
Leadership Position in diesel engine segment:
GCL has a market share of around 60%-65% in the 3W diesel engine segment. GCL supplies engines to around 30 original equipment manufacturers (OEMs) in India, such as Piaggio Vehicle Limited, Mahindra & Mahindra Limited, Atul Auto etc.
- 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
Peer comparison
Sector: Capital Goods-Non Electrical Equipment Industry: Engines
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 |
Documents
Add documentRecent announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 20h
- Clarification On Movement In Price 2d
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2d
- Clarification sought from Greaves Cotton Ltd 2d
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 25 Feb
View all
Annual reports
- Financial Year 2020 from bse
- Financial Year 2019 from bse
- Financial Year 2018 from bse
- Financial Year 2017 from bse
- Financial Year 2016 from bse
- Financial Year 2015 from bse
- Financial Year 2014 from bse
- Financial Year 2013 from bse
- Financial Year 2012 from bse
- Financial Year 2012 from nse
- Financial Year 2011 from bse
- Financial Year 2011 from nse
- Financial Year 2010 from bse