JTEKT India Ltd

JTEKT India is engaged in the business of manufacturing Steering Systems, Propeller Shafts, Axle Assemblies and other automobile components for its various customers viz. Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Honda, Fiat India, Toyota Kirloskar, General Motors, John Deere, Club Car, E-z-go, Renault-Nissan and Isuzu at its Plants located in Gurugram, Dharuhera, Bawal, Chennai and Sanand.(Source : 201903 Annual Report Page No: 10)

  • Market Cap: 1,611 Cr.
  • Current Price: 65.90
  • 52 weeks High / Low 99.00 / 34.75
  • Book Value: 24.36
  • Stock P/E:
  • Dividend Yield: 1.21 %
  • ROCE: 17.65 %
  • ROE: 12.82 %
  • Sales Growth (3Yrs): 4.93 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 1.00
Edit ratios
Pros:
Company has reduced debt.
Company is virtually debt free.
Company has been maintaining a healthy dividend payout of 23.12%
Cons:
Company has low interest coverage ratio.
The company has delivered a poor growth of 3.28% over past five years.
Company has a low return on equity of 12.53% for last 3 years.
Company's cost of borrowing seems high

Peer comparison Sector: Auto Ancillaries // Industry: Auto Ancillaries

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
387 395 452 416 465 397 475 390 391 364 365 76
340 344 390 367 408 352 406 356 353 333 332 107
Operating Profit 47 51 62 49 57 46 69 34 39 30 34 -31
OPM % 12% 13% 14% 12% 12% 11% 15% 9% 10% 8% 9% -41%
Other Income 2 2 4 2 3 3 3 3 2 3 2 2
Interest 8 7 6 4 4 3 4 3 3 2 2 1
Depreciation 25 26 27 24 24 24 24 24 24 24 22 21
Profit before tax 16 21 33 24 33 21 44 10 15 7 12 -51
Tax % 39% 37% 30% 35% 35% 33% 38% 36% 19% 6% 9% 24%
Net Profit 6 9 16 14 20 13 26 5 10 5 9 -37
EPS in Rs 0.31 0.45 0.82 0.57 0.81 0.55 1.05 0.22 0.43 0.22 0.37 -1.53
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
684 692 853 1,207 1,421 1,460 1,492 1,553 1,518 1,211 1,519 1,754 1,196
622 686 770 1,061 1,246 1,295 1,314 1,337 1,324 1,063 1,306 1,532 1,125
Operating Profit 61 6 83 146 175 165 179 216 194 148 213 222 72
OPM % 9% 1% 10% 12% 12% 11% 12% 14% 13% 12% 14% 13% 6%
Other Income 7 5 7 9 3 9 40 5 16 12 9 12 8
Interest 13 32 36 44 46 41 39 31 32 25 21 16 8
Depreciation 17 25 28 38 46 58 68 104 99 79 96 96 90
Profit before tax 39 -46 25 74 86 74 111 86 79 56 104 122 -18
Tax % 36% 31% 38% 33% 30% 35% 22% 31% 32% 28% 34% 36%
Net Profit 25 -32 17 45 49 38 68 38 37 37 64 73 -13
EPS in Rs 1.22 0.00 0.80 2.14 2.35 1.81 3.27 1.77 1.72 1.86 3.21 2.98 -0.51
Dividend Payout % 28% -0% 35% 29% 27% 34% 23% 34% 27% 27% 16% 27%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:9.75%
5 Years:3.28%
3 Years:4.93%
TTM:-30.80%
Compounded Profit Growth
10 Years:15.67%
5 Years:11.36%
3 Years:32.38%
TTM:-119.59%
Stock Price CAGR
10 Years:13.18%
5 Years:2.18%
3 Years:-13.91%
1 Year:-12.89%
Return on Equity
10 Years:13.63%
5 Years:11.92%
3 Years:12.53%
Last Year:12.82%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
19 20 20 20 20 20 20 20 20 20 20 24 24
Reserves 162 146 156 186 219 242 289 304 327 363 520 568 571
Borrowings 185 274 325 344 358 410 341 292 307 249 232 188 53
167 225 212 315 357 376 389 398 397 248 279 302 241
Total Liabilities 534 665 713 865 953 1,048 1,039 1,013 1,052 880 1,051 1,083 890
278 326 449 470 546 609 602 584 600 477 549 533 488
CWIP 29 107 20 24 46 32 75 63 40 23 25 10 2
Investments 32 33 33 30 30 30 1 1 1 103 0 0 0
195 199 212 342 331 377 361 365 411 278 476 541 400
Total Assets 534 665 713 865 953 1,048 1,039 1,013 1,052 880 1,051 1,083 890

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
67 45 39 81 181 99 163 199 131 162 178 184
-150 -158 -64 -54 -139 -96 -42 -81 -79 -64 -118 18
139 51 26 -21 -42 -13 -122 -102 -35 -100 -55 -87
Net Cash Flow 55 -62 2 6 -0 -10 -0 15 18 -2 5 115

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % -3% 13% 21% 23% 18% 17% 18% 16% 13% 18% 18%
Debtor Days 38 42 40 49 45 57 51 44 52 47 62 56
Inventory Turnover 20.45 16.06 13.87 15.02 14.78 12.02 10.92 10.28 8.85 10.69 10.94

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
77.39 77.39 76.77 75.00 69.25 69.25 75.00 75.00 75.00 75.00 75.00 75.00
0.15 0.11 0.18 0.14 1.59 1.82 1.60 1.75 1.86 1.95 1.96 1.89
0.62 0.63 0.69 0.71 4.74 4.58 3.72 3.64 3.71 3.77 4.18 4.17
21.83 21.87 22.36 24.15 24.42 24.35 19.68 19.61 19.43 19.28 18.86 18.94