The Hi-Tech Gears Ltd

₹ 1,138 -1.70%

26 Apr 9:48 a.m.

hitechgears.com BSE: 522073 NSE - BE : HITECHGEAR

About

The Hi-Tech Gears Ltd is an auto components manufacturer primarily engaged in the business of manufacturing gears and transmission components.^[1]

Key Points

Product Portfolio
The Co. offers products for 2-wheelers, light vehicles, commercial vehicles, off-highway vehicles, and engine components. Its offerings include high precision gears and shafts, straight and involure special ratchets, kick spindles, power take-off components, etc. ^[1]

Website BSE NSE - BE

Market Cap ₹ 2,137 Cr.
Current Price ₹ 1,138
High / Low ₹ 1,280 / 241
Stock P/E 45.1
Book Value ₹ 232
Dividend Yield 0.21 %
ROCE 8.13 %
ROE 6.55 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.

Cons

Stock is trading at 5.00 times its book value
Company has a low return on equity of 5.21% over last 3 years.
Earnings include an other income of Rs.84.6 Cr.

* 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: Auto Ancillaries Industry: Auto Ancillaries

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	224	250	207	252	223	289	292	314	277	287	264	284	273
	199	208	186	232	217	254	260	275	239	253	230	248	232
Operating Profit	24	41	21	20	6	35	32	39	38	33	33	35	41
OPM %	11%	17%	10%	8%	3%	12%	11%	12%	14%	12%	13%	12%	15%
	3	0	2	1	3	2	2	3	2	1	3	78	2
Interest	7	2	6	6	7	8	8	8	9	9	9	14	8
Depreciation	12	11	12	12	14	15	20	24	24	15	15	15	15
Profit before tax	9	28	6	3	-12	14	6	10	8	10	12	85	20
Tax %	54%	-3%	42%	204%	-12%	20%	94%	64%	67%	-62%	24%	15%	25%
	4	29	3	-3	-13	11	0	4	3	17	9	72	15
EPS in Rs	2.20	15.31	1.84	-1.46	-6.96	5.99	0.20	1.88	1.37	8.87	4.96	38.48	7.94
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	195	471	749	914	722	746	971	1,169	1,107
	178	415	654	800	638	656	889	1,028	964
Operating Profit	17	56	95	113	84	90	82	141	142
OPM %	9%	12%	13%	12%	12%	12%	8%	12%	13%
	7	7	20	17	11	10	8	8	85
Interest	5	4	24	29	33	23	26	33	40
Depreciation	9	26	39	42	43	43	52	82	60
Profit before tax	9	33	52	59	19	34	11	34	127
Tax %	40%	38%	34%	39%	56%	15%	110%	32%
	6	20	34	36	8	29	-1	23	113
EPS in Rs		10.73	18.24	18.96	4.41	15.34	-0.59	12.31	60.25
Dividend Payout %	42%	23%	19%	18%	34%	13%	-256%	20%

Compounded Sales Growth
10 Years:	%
5 Years:	9%
3 Years:	17%
TTM:	-6%

Compounded Profit Growth
10 Years:	%
5 Years:	-8%
3 Years:	40%
TTM:	167%

Stock Price CAGR
10 Years:	30%
5 Years:	32%
3 Years:	93%
1 Year:	366%

Return on Equity
10 Years:	%
5 Years:	6%
3 Years:	5%
Last Year:	7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	9	19	19	19	19	19	19	19	19
Reserves	30	183	222	253	257	302	312	336	416
	90	319	366	440	352	427	471	457	344
	52	160	128	155	161	174	201	171	160
Total Liabilities	181	680	734	867	789	922	1,002	983	939
	105	403	423	444	446	468	528	496	467
CWIP	7	11	13	19	34	71	38	13	14
Investments	0	0	0	4	8	10	12	12	12
	70	267	298	400	301	373	424	462	446
Total Assets	181	680	734	867	789	922	1,002	983	939

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	15	54	15	47	184	37	56	54
	-48	-119	-72	-85	-40	-51	-56	-41
	33	26	18	60	-151	25	11	-41
Net Cash Flow	1	-40	-39	22	-7	12	10	-27

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2006	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	34	82	75	68	46	73	65	65
Inventory Days	124	85	66	87	92	91	88	75
Days Payable	158	86	75	79	102	112	109	73
Cash Conversion Cycle	0	81	66	76	37	52	45	67
Working Capital Days	39	28	53	51	8	54	49	62
ROCE %			13%	12%	8%	8%	5%	8%

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	56.00%	56.00%	56.22%	56.22%	56.22%	56.22%	56.22%	56.22%	56.26%	56.26%	56.26%	56.23%
	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.06%
	0.01%	0.01%	0.00%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%
	43.99%	43.99%	43.76%	43.78%	43.78%	43.76%	43.77%	43.77%	43.72%	43.69%	43.72%	43.70%
No. of Shareholders	7,126	7,785	7,583	7,463	7,554	7,736	6,643	6,309	7,176	7,414	7,284	9,567

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	55.30%	55.30%	55.30%	55.53%	56.00%	56.22%	56.22%	56.23%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%
	0.14%	0.24%	0.13%	0.01%	0.01%	0.01%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%
	44.56%	44.46%	44.57%	44.47%	43.99%	43.78%	43.77%	43.70%
No. of Shareholders	5,305	5,275	5,245	5,203	5,243	7,463	6,309	9,567

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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