L G Balakrishnan & Bros Ltd

₹ 697 0.09%
27 Jan - close price
About

L.G. Balakrishnan & Bros Ltd is a major manufacturer of chains, sprockets and metal formed parts for automotive applications. Its business segments include transmission, metal forming and others.[1]

Key Points

Product Portfolio
The company manufacturing is divided in 2 business segments. Its transmission products include chains, sprockets, tensioners, belts and brake shoe. It also offers metal forming products consisting of fine blanking for precision sheet metal parts, machined components and wire drawing products.[1]

  • Market Cap 2,189 Cr.
  • Current Price 697
  • High / Low 805 / 507
  • Stock P/E 9.10
  • Book Value 389
  • Dividend Yield 2.15 %
  • ROCE 29.0 %
  • ROE 22.4 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 27.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.8%

Cons

  • The company has delivered a poor sales growth of 11.9% over past five years.
  • Promoter holding is low: 34.0%
  • Promoter holding has decreased over last 3 years: -13.7%

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
382 335 173 408 471 479 368 552 549 540 487 545 551
328 297 159 336 381 393 309 447 436 438 407 447 447
Operating Profit 53 38 13 72 90 86 59 105 113 102 80 98 104
OPM % 14% 11% 8% 18% 19% 18% 16% 19% 21% 19% 16% 18% 19%
12 8 1 6 2 12 2 20 3 8 13 6 7
Interest 3 3 3 3 2 2 1 1 2 3 1 1 2
Depreciation 19 20 19 19 20 19 19 20 20 19 18 18 18
Profit before tax 43 23 -8 56 70 77 40 104 93 88 74 85 92
Tax % 21% 24% 27% 24% 23% 26% 25% 25% 25% 30% 25% 24% 23%
Net Profit 34 18 -6 42 54 57 30 78 70 62 55 65 71
EPS in Rs 10.74 5.63 -1.76 13.53 17.23 18.22 9.54 24.72 22.18 19.73 17.61 20.66 22.58
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
698 890 920 969 1,027 1,064 1,146 1,315 1,582 1,444 1,531 2,008 2,123
613 788 831 857 897 938 997 1,131 1,379 1,257 1,269 1,629 1,739
Operating Profit 86 102 90 112 130 126 150 184 204 187 262 379 384
OPM % 12% 11% 10% 12% 13% 12% 13% 14% 13% 13% 17% 19% 18%
2 2 4 5 9 4 6 4 15 29 21 32 35
Interest 15 17 22 17 16 16 14 11 12 15 10 9 6
Depreciation 25 28 29 31 37 43 49 54 64 74 77 77 74
Profit before tax 47 58 42 69 85 70 92 123 143 127 195 325 339
Tax % 3% 25% 20% 21% 24% 18% 28% 35% 32% 20% 24% 26%
Net Profit 46 44 34 54 64 57 66 80 97 102 148 239 253
EPS in Rs 14.59 13.86 10.73 17.31 20.51 18.30 21.04 25.51 30.79 32.44 47.21 76.17 80.58
Dividend Payout % 17% 20% 17% 17% 17% 16% 17% 9% 16% 15% 21% 20%
Compounded Sales Growth
10 Years: 8%
5 Years: 12%
3 Years: 8%
TTM: 9%
Compounded Profit Growth
10 Years: 18%
5 Years: 28%
3 Years: 36%
TTM: 12%
Stock Price CAGR
10 Years: 28%
5 Years: 8%
3 Years: 30%
1 Year: 3%
Return on Equity
10 Years: 17%
5 Years: 17%
3 Years: 18%
Last Year: 22%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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
8 8 8 8 16 16 16 16 31 31 31 31 31
Reserves 189 223 250 293 335 381 481 543 604 649 838 1,084 1,191
117 137 148 123 146 148 106 90 200 118 71 90 103
166 179 177 208 239 241 262 296 307 264 387 446 398
Total Liabilities 479 547 582 632 735 786 864 944 1,143 1,063 1,326 1,652 1,723
187 191 203 221 274 330 358 369 477 530 503 462 467
CWIP 4 3 3 9 31 7 3 26 36 8 4 14 9
Investments 17 17 34 36 37 39 79 67 66 46 96 137 171
271 336 341 367 394 410 424 482 564 479 724 1,039 1,076
Total Assets 479 547 582 632 735 786 864 944 1,143 1,063 1,326 1,652 1,723

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

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 36 82 100 88 108 138 118 98 205 216 199
-70 -29 -56 -51 -81 -80 -73 -84 -179 -61 -126 -181
-11 -6 -26 -49 -7 -30 -57 -39 83 -150 -34 -19
Net Cash Flow 0 1 0 -0 1 -2 8 -4 2 -6 56 -1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 44 43 44 47 44 47 49 50 48 40 55 50
Inventory Days 158 150 139 147 163 163 157 149 149 152 152 167
Days Payable 107 85 83 103 128 134 143 154 124 125 124 101
Cash Conversion Cycle 95 109 99 91 79 76 63 45 73 66 83 117
Working Capital Days 42 54 52 46 45 42 42 36 49 49 46 56
ROCE % 22% 22% 16% 20% 20% 17% 18% 21% 19% 14% 22% 29%

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
47.38 47.14 44.07 43.36 43.36 41.98 40.05 34.32 34.32 34.32 33.99 33.99
0.48 0.47 0.55 0.64 2.36 3.32 5.00 6.78 7.72 8.03 8.96 9.46
17.87 18.08 17.99 17.91 14.86 13.63 12.86 12.48 11.80 11.82 11.73 11.73
34.27 34.31 37.39 38.09 39.42 41.07 42.10 46.42 46.16 45.83 45.28 44.81

* 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.

Click on the line-items to see the names of individual entities.

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