Hindustan Motors Ltd

About

Established in 1948, Hindustan Motors is involved in the production of the Ambassador and Winner automobiles. At present, the company is engaged in the manufacture and sale of Vehicles, Spare Parts of Vehicles, Steel Products, and Related Components. The Company is also engaged in Trading Spare Parts of Vehicles.
The company's registered office is in Kolkata, West Bengal.

Key Points

Manufacturing Units:[1]
The company currently manufactures the Ambassador (1500 and 2000 cc diesel, 1800 cc petrol, CNG and LPG variants) in the passenger car segment and light commercial vehicle 1-tonne payload mini-truck Winner (2000 cc diesel and CNG) by the name of Winner, at its Uttarpara and Pithampur plants.
The Co's manufacturing plants were the first integrated automobile plant in India, the Uttarpara factory, popularly known as Hind Motor, also manufactures automotive and forged components. The plant is equipped with integrated facilities such as a press shop, forge shop, foundry, machine shop, aggregate assembly units for engines, axles, etc., and an R&D wing. At the Pithampur plant, the company produces 1800 cc CNG and other variants of Winner.

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  • Market Cap 248 Cr.
  • Current Price 11.9
  • High / Low 18.2 / 5.54
  • Stock P/E 730
  • Book Value -0.84
  • Dividend Yield 0.00 %
  • ROCE %
  • ROE %
  • Face Value 5.00

Pros

  • Company has reduced debt.

Cons

  • Promoter holding is low: 32.34%
  • Contingent liabilities of Rs.83.36 Cr.
  • Earnings include an other income of Rs.22.55 Cr.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
0 0 0 0 0 0 0 0 1 0 0 0
1 2 2 2 1 1 1 1 2 1 1 3
Operating Profit -1 -2 -2 -2 -1 -1 -1 -1 -1 -1 -1 -3
OPM % -14,800% -3,500% -756% -2,025% -240% -187% -562%
Other Income 3 27 2 3 0 1 1 3 2 5 2 14
Interest 0 1 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 1 24 0 1 -1 -1 -0 2 1 3 0 11
Tax % 0% 2% 0% 22% 0% 26% 0% 24% 40% 49% 77% 9%
Net Profit 1 24 0 0 -1 -0 -0 2 1 2 0 10
EPS in Rs 0.04 1.15 0.01 0.02 -0.05 -0.02 -0.01 0.09 0.03 0.08 0.00 0.49

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Sep 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
574 655 494 723 183 15 1 1 -3 1 0 1 1
703 719 593 841 227 53 22 18 13 7 6 5 7
Operating Profit -129 -64 -99 -118 -44 -38 -21 -16 -16 -6 -6 -4 -6
OPM % -22% -10% -20% -16% -24% -251% -2,632% -1,450% -1,124% -2,757% -331% -761%
Other Income 125 107 107 91 108 6 2 12 88 36 6 11 23
Interest 11 30 20 31 56 8 10 10 9 2 0 0 0
Depreciation 18 17 22 22 8 2 2 2 1 1 1 1 1
Profit before tax -33 -4 -33 -80 -1 -42 -32 -16 62 27 -1 6 15
Tax % -54% 120% 10% 11% -339% 0% 0% 0% 9% -0% 2% 40%
Net Profit -51 1 -30 -71 -3 -42 -32 -16 57 27 -1 4 12
EPS in Rs -3.17 0.05 -1.73 -3.85 -0.17 -2.01 -1.54 -0.77 2.71 1.28 -0.04 0.18 0.60
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -47%
5 Years: 8%
3 Years: %
TTM: 457%
Compounded Profit Growth
10 Years: 7%
5 Years: 15%
3 Years: 25%
TTM: 580%
Stock Price CAGR
10 Years: 1%
5 Years: 11%
3 Years: 15%
1 Year: 89%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Sep 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
161 81 87 92 92 104 104 104 104 104 104 104 104
Reserves -121 -40 -61 -124 -127 -166 -198 -217 -161 -135 -136 -132 -122
Borrowings 98 128 136 98 41 41 38 36 18 18 18 18 0
242 252 191 200 183 91 107 116 89 43 40 39 51
Total Liabilities 380 420 353 267 189 70 52 39 50 30 26 29 34
139 128 109 118 39 29 27 26 24 21 20 18 17
CWIP 4 2 19 1 0 0 0 0 0 0 0 0 0
Investments 69 103 85 18 0 0 0 0 0 0 0 0 0
168 188 140 130 150 41 24 13 26 9 6 11 17
Total Assets 380 420 353 267 189 70 52 39 50 30 26 29 34

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Sep 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
11 -104 -100 -109 -24 33 9 11 -33 -14 -1 -5
57 77 100 150 78 1 0 1 79 2 0 11
-35 26 -8 -53 -60 -35 -9 -12 -29 -2 -0 -0
Net Cash Flow 33 -0 -8 -13 -6 -1 -0 0 17 -14 -1 6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Sep 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 8 12 15 10 36 33 532 333 -6 34 122 16
Inventory Days 57 66 54 50 37 279 774 413 226 196 196 0
Days Payable 75 114 51 38 70 667 2,795 3,011 3,073 6,721 14,209
Cash Conversion Cycle -10 -36 17 23 3 -355 -1,489 -2,265 -2,853 -6,491 -13,892 16
Working Capital Days -61 -43 -53 -32 -84 -1,130 -37,897 -32,850 -8,550 -23,401 -55,932 -9,930
ROCE % -45% -46% -69% -112%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
32.34 32.34 32.34 32.34 32.34 32.34 32.34 32.34 32.34 32.34 32.34 32.34
0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
4.88 4.89 4.89 4.88 4.95 4.89 4.88 4.88 4.88 4.88 4.88 1.32
62.75 62.76 62.76 62.76 62.69 62.76 62.76 62.76 62.76 62.76 62.76 66.32

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