JTEKT India Ltd

About

JTEKT India Ltd is primarily engaged in the business of manufacturing steering systems & other auto components for the passenger car and utility vehicle manufacturers in the automobile sector.[1]

Key Points

Product Portfolio
The product portfolio of the Company includes High-performance Rack and Pinion Manual Steering Gear, Hydraulic Power Steering System, Tilt & telescopic steering column, intermediate shaft, Electric Power Assist Module (EPAM), Rear Axle Assembly and other products.[1]

See full details
  • Market Cap 2,670 Cr.
  • Current Price 109
  • High / Low 133 / 71.1
  • Stock P/E 55.7
  • Book Value 24.5
  • Dividend Yield 0.14 %
  • ROCE 3.79 %
  • ROE 1.95 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 28.81%

Cons

  • Stock is trading at 4.46 times its book value
  • The company has delivered a poor sales growth of -2.57% over past five years.
  • Company has a low return on equity of 6.52% for last 3 years.
  • Debtor days have increased from 57.41 to 69.51 days.
Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
465.42 397.11 475.43 390.44 391.19 363.52 365.41 75.99 354.65 431.87 470.49 320.97
407.99 351.56 406.06 356.02 352.61 333.20 331.87 106.86 321.14 387.90 414.34 302.94
Operating Profit 57.43 45.55 69.37 34.42 38.58 30.32 33.54 -30.87 33.51 43.97 56.15 18.03
OPM % 12.34% 11.47% 14.59% 8.82% 9.86% 8.34% 9.18% -40.62% 9.45% 10.18% 11.93% 5.62%
Other Income 3.32 3.18 2.86 2.61 2.08 2.52 1.60 1.71 1.42 1.30 1.00 0.55
Interest 3.72 3.46 4.13 3.29 2.59 2.44 1.61 1.27 1.25 1.17 1.03 0.81
Depreciation 24.13 23.91 24.11 23.69 23.54 23.69 21.85 20.66 21.60 20.67 20.03 18.62
Profit before tax 32.90 21.36 43.99 10.05 14.53 6.71 11.68 -51.09 12.08 23.43 36.09 -0.85
Tax % 35.05% 33.19% 37.94% 35.52% 19.48% 5.81% 9.08% 24.43% 27.40% 28.04% 26.10% 5.88%
Net Profit 19.73 13.41 25.61 5.37 10.45 5.39 9.05 -37.45 8.09 15.77 25.31 -1.21
EPS in Rs 0.99 0.67 1.05 0.22 0.43 0.22 0.37 -1.53 0.33 0.65 1.04 -0.05

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
853 1,207 1,421 1,460 1,492 1,553 1,518 1,211 1,519 1,754 1,511 1,333 1,578
770 1,061 1,246 1,295 1,313 1,337 1,324 1,063 1,306 1,532 1,374 1,230 1,426
Operating Profit 83 146 175 165 179 216 194 148 213 222 137 103 152
OPM % 10% 12% 12% 11% 12% 14% 13% 12% 14% 13% 9% 8% 10%
Other Income 7 9 3 9 39 5 16 12 9 12 9 5 4
Interest 36 44 46 41 39 31 32 25 21 16 10 5 4
Depreciation 28 38 46 58 68 104 99 79 96 96 93 83 81
Profit before tax 25 74 86 74 111 86 79 56 104 122 43 21 71
Tax % 38% 33% 30% 35% 22% 31% 32% 28% 34% 36% 18% 33%
Net Profit 17 45 49 38 68 38 37 37 64 73 30 12 48
EPS in Rs 0.85 2.25 2.45 1.92 3.41 1.91 1.86 1.86 3.21 2.98 1.24 0.48 1.97
Dividend Payout % 35% 29% 27% 34% 23% 34% 27% 27% 16% 27% 28% 31%
Compounded Sales Growth
10 Years:1%
5 Years:-3%
3 Years:-4%
TTM:32%
Compounded Profit Growth
10 Years:-12%
5 Years:-19%
3 Years:-43%
TTM:482%
Stock Price CAGR
10 Years:23%
5 Years:10%
3 Years:-2%
1 Year:43%
Return on Equity
10 Years:11%
5 Years:8%
3 Years:7%
Last Year:2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
20 20 20 20 20 20 20 20 20 24 24 24
Reserves 156 186 219 242 289 304 327 363 520 568 571 574
Borrowings 325 344 358 410 341 292 307 249 232 188 78 49
212 315 357 376 389 398 397 248 279 302 217 286
Total Liabilities 713 865 953 1,048 1,039 1,013 1,052 880 1,051 1,083 890 933
449 470 546 609 602 584 600 477 549 533 487 425
CWIP 20 24 46 32 75 63 40 23 25 10 3 10
Investments 33 30 30 30 1 1 1 103 0 0 0 0
212 342 331 377 361 365 411 278 476 541 401 498
Total Assets 713 865 953 1,048 1,039 1,013 1,052 880 1,051 1,083 890 933

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
39 81 181 99 163 199 131 162 178 184 125 91
-64 -54 -139 -96 -42 -81 -79 -64 -118 16 -34 -40
26 -21 -42 -13 -122 -102 -35 -100 -55 -85 -153 -44
Net Cash Flow 2 6 -0 -10 -0 15 18 -2 5 115 -61 7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 40 49 45 57 51 44 52 47 62 56 47 70
Inventory Days 29 32 22 29 33 35 36 39 39 36 41 52
Days Payable 78 83 74 69 69 68 71 77 68 66 52 81
Cash Conversion Cycle -9 -2 -7 17 15 12 17 8 33 26 37 41
Working Capital Days 21 21 8 26 24 21 28 19 36 31 35 42
ROCE % 13% 21% 23% 18% 17% 18% 16% 13% 18% 18% 7% 4%

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
69.25 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
1.82 1.60 1.75 1.86 1.95 1.96 1.89 2.36 2.40 4.07 4.69 4.53
4.58 3.72 3.64 3.71 3.77 4.18 4.17 4.52 4.33 3.89 3.19 3.50
24.35 19.68 19.61 19.43 19.28 18.86 18.94 18.12 18.27 17.04 17.12 16.97

Documents