IP Rings Ltd

IP Rings Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

IP Rings Ltd

₹ 136 -1.45%
28 Sep 10:47 a.m.
iprings.com BSE: 523638
About

IP Rings is a front line automotive components manufacturer, specializing in the production of piston rings in high carbon high alloy steels and nodular iron with a variety of surface coatings that find application in present day high performance low emission engines. It also produces a series of transmission parts and other components for automotive and related industries employing a unique Precision Forging technology. The company, established in 1991, is located in Chennai.[1]

Key Points

Products
The products portfolio of co. includes.
Rings : Piston Rings, Turbocharger Rings, Piston Pin
Orbital Cold Formed Components : Differential Gear & Pinion, Synchrocone, Pole Wheel, Rotor Shaft, Diffcase & Other Transmission Components [1]

Revenue
Rings Sales: 25% in FY22 vs 28% in FY20
OCF Sales: 63% in FY22 vs 59% in FY20
Piston Pin Sales: 7% in FY22 vs 9% in FY20
Tooling Sales: 2% in FY22 vs 3% in FY20 [2] [3]

Geographical Wise
India: 60% in FY22 vs 61% in FY21
USA: 9% in FY22 vs 6% in FY21
Thailand: 30% in FY22 vs 32% in FY21 [4]

Website BSE
  • Market Cap ₹ 172 Cr.
  • Current Price ₹ 136
  • High / Low ₹ 162 / 80.0
  • Stock P/E
  • Book Value ₹ 87.6
  • Dividend Yield 0.74 %
  • ROCE 6.09 %
  • ROE 1.60 %
  • Face Value ₹ 10.0
Edit ratios

Pros

  • Company has been maintaining a healthy dividend payout of 47.3%
  • Company's working capital requirements have reduced from 73.3 days to 54.8 days

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 4.62% over 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: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023
10.02 45.82 66.62 76.00 62.68 66.25 71.95 71.84 79.10 85.35 82.54 76.32 76.24
13.10 39.27 55.93 65.63 51.25 60.00 65.49 62.87 70.56 78.81 76.85 71.22 72.23
Operating Profit -3.08 6.55 10.69 10.37 11.43 6.25 6.46 8.97 8.54 6.54 5.69 5.10 4.01
OPM % -30.74% 14.30% 16.05% 13.64% 18.24% 9.43% 8.98% 12.49% 10.80% 7.66% 6.89% 6.68% 5.26%
0.12 0.48 0.00 0.39 0.15 0.20 0.53 1.41 0.94 0.87 1.28 0.25 1.29
Interest 2.06 1.36 1.93 2.09 2.44 2.37 2.74 2.46 2.42 2.57 2.81 3.08 3.06
Depreciation 2.11 3.09 3.16 3.19 3.47 3.55 3.61 3.71 3.79 3.93 4.00 4.23 4.16
Profit before tax -7.13 2.58 5.60 5.48 5.67 0.53 0.64 4.21 3.27 0.91 0.16 -1.96 -1.92
Tax % 27.77% 28.29% 25.71% 25.36% 28.57% 45.28% 31.25% 18.53% 29.97% 15.38% 62.50% 28.57% 36.46%
-5.14 1.86 4.17 4.09 4.05 0.29 0.44 3.44 2.29 0.77 0.06 -1.40 -1.22
EPS in Rs -4.05 1.47 3.29 3.23 3.20 0.23 0.35 2.71 1.81 0.61 0.05 -1.10 -0.96
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
83 85 85 101 118 175 203 212 198 198 273 323 320
74 79 75 88 103 160 179 184 176 174 240 297 299
Operating Profit 9 5 10 13 15 15 24 28 22 25 33 26 21
OPM % 11% 6% 12% 13% 13% 8% 12% 13% 11% 12% 12% 8% 7%
0 0 -0 0 1 1 1 1 1 1 2 3 4
Interest 4 6 6 8 9 10 7 8 9 7 10 11 12
Depreciation 5 6 7 7 7 8 8 10 11 12 14 16 16
Profit before tax 0 -6 -4 -1 0 -3 10 11 2 7 11 2 -3
Tax % -100% 35% 24% 58% 12% 44% 28% 28% 36% 24% 26% 27%
1 -4 -3 -0 0 -1 7 8 1 5 8 2 -2
EPS in Rs 0.46 -3.29 -2.17 -0.39 0.17 -1.14 5.78 6.27 0.87 3.92 6.48 1.37 -1.40
Dividend Payout % 121% 0% 0% 0% 0% 0% 0% 16% 0% 38% 31% 73%
Compounded Sales Growth
10 Years: 14%
5 Years: 10%
3 Years: 18%
TTM: 11%
Compounded Profit Growth
10 Years: 9%
5 Years: -25%
3 Years: 16%
TTM: -128%
Stock Price CAGR
10 Years: 20%
5 Years: 1%
3 Years: 49%
1 Year: 17%
Return on Equity
10 Years: 3%
5 Years: 5%
3 Years: 5%
Last Year: 2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
7 7 7 7 7 13 13 13 13 13 13 13
Reserves 41 37 34 33 33 74 81 89 88 93 99 98
39 47 58 66 86 60 73 82 82 99 113 101
19 19 20 22 30 43 40 44 54 68 75 104
Total Liabilities 106 110 119 129 156 189 207 228 237 273 301 316
60 65 68 68 80 85 95 118 119 145 154 154
CWIP 3 1 3 0 1 4 4 2 19 2 5 2
Investments 0 0 0 0 0 0 0 0 0 0 1 1
42 43 48 60 74 100 108 108 99 126 142 159
Total Assets 106 110 119 129 156 189 207 228 237 273 301 316

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
2 -0 1 -2 7 10 22 21 32 17 23 42
-12 -8 -12 -6 -20 -18 -24 -22 -15 -26 -27 -13
9 7 11 8 11 12 6 2 -11 4 1 -27
Net Cash Flow -0 -1 0 0 -2 4 4 0 6 -5 -3 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 75 80 80 88 106 102 85 85 70 104 90 85
Inventory Days 176 193 230 273 242 211 192 225 220 288 236 194
Days Payable 128 140 156 160 157 189 155 193 173 325 282 298
Cash Conversion Cycle 123 133 154 201 192 124 121 117 117 67 44 -19
Working Capital Days 69 63 81 87 88 72 64 74 31 84 81 55
ROCE % 5% -1% 3% 6% 8% 5% 11% 11% 6% 7% 10% 6%

Shareholding Pattern

Numbers in percentages

Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023
56.58% 56.58% 56.58% 56.58% 56.58% 56.58% 56.58% 56.58% 56.58% 56.58% 56.58% 56.58%
43.42% 43.42% 43.42% 43.42% 43.42% 43.42% 43.42% 43.42% 43.41% 43.42% 43.42% 43.42%
No. of Shareholders 7,6727,5336,6996,6336,6496,5866,5586,5376,5056,4466,4576,476

Documents

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