L G Balakrishnan & Bros Ltd

₹ 704 0.04%
25 Nov - close price
lgb.co.in. BSE: 500250 NSE : LGBBROSLTD
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]

Website BSE NSE
  • Market Cap ₹ 2,211 Cr.
  • Current Price ₹ 704
  • High / Low ₹ 805 / 460
  • Stock P/E 8.90
  • Book Value ₹ 397
  • Dividend Yield 2.13 %
  • ROCE 29.0 %
  • ROE 22.7 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 26.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 19.9%

Cons

  • The company has delivered a poor sales growth of 10.8% over past five years.
  • Promoter holding is low: 34.0%
  • Promoter holding has decreased over last 3 years: -14.2%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
412 407 356 195 417 498 499 393 577 574 559 521 578
355 351 322 180 359 407 410 331 470 458 454 436 476
Operating Profit 57 55 34 14 58 91 89 61 107 116 105 85 102
OPM % 14% 14% 10% 7% 14% 18% 18% 16% 18% 20% 19% 16% 18%
6 6 8 1 6 2 12 4 20 3 8 13 6
Interest 4 4 3 3 3 2 2 2 2 3 3 1 1
Depreciation 19 20 21 20 21 21 21 20 21 21 21 20 20
Profit before tax 39 37 18 -8 41 70 78 43 104 95 90 77 87
Tax % 8% 25% 30% 25% 33% 23% 25% 23% 25% 25% 29% 24% 23%
Net Profit 36 28 13 -6 27 54 58 33 78 71 64 58 67
EPS in Rs 11.62 8.87 4.13 -1.93 8.86 17.11 18.47 10.50 24.82 22.64 20.24 18.57 21.37
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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
704 898 939 1,085 1,151 1,175 1,258 1,418 1,688 1,543 1,609 2,102 2,232
616 794 850 959 1,009 1,037 1,095 1,222 1,479 1,355 1,355 1,713 1,824
Operating Profit 87 104 89 126 142 138 162 196 209 187 254 389 408
OPM % 12% 12% 10% 12% 12% 12% 13% 14% 12% 12% 16% 19% 18%
2 2 4 5 9 4 10 5 15 22 21 35 30
Interest 15 18 23 18 18 18 16 12 13 16 11 9 8
Depreciation 26 29 30 33 39 46 53 58 68 79 83 83 81
Profit before tax 48 59 40 80 94 78 103 131 143 115 180 332 349
Tax % 4% 25% 19% 19% 22% 17% 28% 33% 32% 22% 26% 26%
Net Profit 46 44 33 66 74 66 75 89 100 91 133 246 260
EPS in Rs 14.74 14.09 10.42 20.01 22.68 20.22 22.61 27.41 31.72 29.19 42.51 78.20 82.82
Dividend Payout % 17% 20% 18% 15% 15% 15% 15% 8% 16% 17% 24% 19%
Compounded Sales Growth
10 Years: 9%
5 Years: 11%
3 Years: 8%
TTM: 13%
Compounded Profit Growth
10 Years: 18%
5 Years: 27%
3 Years: 36%
TTM: 22%
Stock Price CAGR
10 Years: 28%
5 Years: 8%
3 Years: 38%
1 Year: 44%
Return on Equity
10 Years: 17%
5 Years: 17%
3 Years: 17%
Last Year: 23%

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
8 8 8 8 16 16 16 16 31 31 31 31 31
Reserves 189 225 251 300 349 401 505 570 635 675 848 1,101 1,216
118 138 168 150 177 178 134 108 218 133 84 100 104
165 184 196 231 264 266 292 321 338 292 415 476 439
Total Liabilities 480 554 622 689 806 860 947 1,015 1,221 1,132 1,378 1,709 1,790
191 197 228 255 316 381 407 424 532 585 552 508 515
CWIP 4 3 3 9 37 10 14 27 37 9 6 15 10
Investments 14 14 19 17 18 19 60 54 55 20 63 104 139
271 341 372 408 436 451 466 510 597 518 757 1,082 1,127
Total Assets 480 554 622 689 806 860 947 1,015 1,221 1,132 1,378 1,709 1,790

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
82 38 70 96 119 117 150 128 102 203 211 202
-72 -30 -63 -60 -114 -87 -78 -87 -180 -55 -121 -182
-11 -7 -3 -39 -4 -33 -60 -50 81 -154 -33 -23
Net Cash Flow -0 1 5 -4 1 -2 11 -9 2 -5 57 -2

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 44 44 48 49 46 47 51 50 48 41 56 51
Inventory Days 159 151 140 139 153 155 150 143 145 150 149 168
Days Payable 109 88 85 98 122 127 139 147 122 128 128 106
Cash Conversion Cycle 94 108 103 90 78 75 62 46 71 63 76 113
Working Capital Days 42 54 55 48 47 45 42 35 48 48 45 56
ROCE % 22% 22% 15% 21% 21% 17% 19% 21% 18% 13% 20% 29%

Shareholding Pattern

Numbers in percentages

4 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
47.73 47.38 47.14 44.07 43.36 43.36 41.98 40.05 34.32 34.32 34.32 33.99
0.48 0.48 0.47 0.55 0.64 2.36 3.32 5.00 6.78 7.72 8.03 8.96
17.50 17.87 18.08 17.99 17.91 14.86 13.63 12.86 12.48 11.80 11.82 11.73
34.29 34.27 34.31 37.39 38.09 39.42 41.07 42.10 46.42 46.16 45.83 45.28

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