JTEKT India Ltd

₹ 101 4.99%

29 Mar - close price

jtekt.co.in BSE: 520057 NSE : JTEKTINDIA

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]

Website BSE NSE

Market Cap ₹ 2,471 Cr.
Current Price ₹ 101
High / Low ₹ 201 / 66.0
Stock P/E 32.7
Book Value ₹ 27.2
Dividend Yield 0.40 %
ROCE 9.84 %
ROE 6.61 %
Face Value ₹ 1.00

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Pros

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 28.7%

Cons

Stock is trading at 3.72 times its book value
The company has delivered a poor sales growth of 5.57% over past five years.
Company has a low return on equity of 4.57% 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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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
	364	365	76	355	432	470	321	385	413	470	472	571	471
	333	332	107	321	388	414	303	355	376	428	432	513	433
Operating Profit	30	34	-31	34	44	56	18	30	37	42	40	58	38
OPM %	8%	9%	-41%	9%	10%	12%	6%	8%	9%	9%	8%	10%	8%
	3	2	2	1	1	1	1	3	2	-3	-1	2	2
Interest	2	2	1	1	1	1	1	1	1	1	1	1	1
Depreciation	24	22	21	22	21	20	19	18	17	17	17	18	19
Profit before tax	7	12	-51	12	23	36	-1	14	21	21	21	41	20
Tax %	6%	9%	24%	27%	28%	26%	6%	26%	26%	27%	26%	27%	23%
Net Profit	6	11	-39	9	17	27	-1	11	16	15	16	30	15
EPS in Rs	0.22	0.37	-1.53	0.33	0.65	1.04	-0.05	0.39	0.59	0.58	0.58	1.14	0.59
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
	1,207	1,421	1,460	1,492	1,553	1,518	1,211	1,519	1,754	1,511	1,333	1,589	1,984
	1,061	1,246	1,295	1,313	1,337	1,324	1,063	1,306	1,532	1,374	1,230	1,461	1,805
Operating Profit	146	175	165	179	216	194	148	213	222	137	103	127	178
OPM %	12%	12%	11%	12%	14%	13%	12%	14%	13%	9%	8%	8%	9%
	9	3	9	39	5	16	12	9	12	9	5	3	0
Interest	44	46	41	39	31	32	25	21	16	10	5	4	5
Depreciation	38	46	58	68	104	99	79	96	96	93	83	71	71
Profit before tax	74	86	74	111	86	79	56	104	122	43	21	56	104
Tax %	33%	30%	35%	22%	31%	32%	28%	34%	36%	18%	33%	27%
Net Profit	49	60	48	86	58	54	40	68	78	35	14	41	76
EPS in Rs	2.25	2.45	1.92	3.41	1.91	1.86	1.86	3.21	2.98	1.24	0.48	1.51	2.89
Dividend Payout %	29%	27%	34%	23%	34%	27%	27%	16%	27%	28%	31%	26%

Compounded Sales Growth
10 Years:	1%
5 Years:	6%
3 Years:	-3%
TTM:	25%

Compounded Profit Growth
10 Years:	-2%
5 Years:	1%
3 Years:	-18%
TTM:	55%

Stock Price CAGR
10 Years:	26%
5 Years:	0%
3 Years:	38%
1 Year:	34%

Return on Equity
10 Years:	9%
5 Years:	8%
3 Years:	5%
Last Year:	7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Sep 2022
	20	20	20	20	20	20	20	20	24	24	24	24	24
Reserves	186	219	242	289	304	327	363	525	568	571	574	607	639
	344	358	410	341	292	307	249	232	188	78	49	71	61
	315	357	376	389	398	397	248	274	302	217	286	297	345
Total Liabilities	865	953	1,048	1,039	1,013	1,052	880	1,051	1,083	890	933	1,000	1,070
	470	546	609	602	584	600	477	549	533	487	425	399	475
CWIP	24	46	32	75	63	40	23	25	10	3	10	97	21
Investments	30	30	30	1	1	1	103	0	0	0	0	0	0
	342	331	377	361	365	411	278	476	541	401	498	505	574
Total Assets	865	953	1,048	1,039	1,013	1,052	880	1,051	1,083	890	933	1,000	1,070

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
	81	181	99	163	199	131	162	178	184	125	91	108
	-54	-139	-96	-42	-81	-79	-64	-118	16	-34	-40	-126
	-21	-42	-13	-122	-102	-35	-100	-55	-85	-153	-44	14
Net Cash Flow	6	-0	-10	-0	15	18	-2	5	115	-61	7	-4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Debtor Days	49	45	57	51	44	52	47	62	56	47	70	56
Inventory Days	32	22	29	33	35	36	39	39	36	41	52	48
Days Payable	83	74	69	69	68	71	77	68	66	52	81	65
Cash Conversion Cycle	-2	-7	17	15	12	17	8	33	26	37	41	38
Working Capital Days	4	-7	1	-3	1	8	-1	22	20	30	42	34
ROCE %	21%	23%	18%	17%	18%	16%	13%	18%	18%	7%	4%	10%

Shareholding Pattern

Numbers in percentages

Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	73.98	73.97	73.97
1.96	1.89	2.36	2.40	4.07	4.69	4.53	4.58	4.59	4.58	3.99	3.95
4.18	4.17	4.52	4.33	3.89	3.19	3.50	3.55	3.24	4.52	4.48	4.45
18.86	18.94	18.12	18.27	17.04	17.12	16.97	16.87	17.17	16.92	17.55	17.62

* 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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Documents

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Nov 2022

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Jun 2020

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Nov 2019

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Aug 2019

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May 2019

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Aug 2018

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May 2018

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Aug 2016

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Feb 2016

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