Sandhar Technologies Limited

About

Sandhar Techs. is primarily engaged in the manufacturing and assembling of safety and security systems and its associated components for the automotive industry.

  • Market Cap 1,380 Cr.
  • Current Price 229
  • High / Low 302 / 121
  • Stock P/E 90.5
  • Book Value 127
  • Dividend Yield 0.87 %
  • ROCE 9.57 %
  • ROE 7.55 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 18.49%
  • Debtor days have improved from 46.29 to 36.04 days.

Cons

  • The company has delivered a poor growth of 5.57% over past five years.
  • Company has a low return on equity of 11.54% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
571 606 568 591 552 503 480 409 129
516 540 509 524 500 450 434 370 146
Operating Profit 54 66 59 66 51 53 47 39 -16
OPM % 10% 11% 10% 11% 9% 11% 10% 10% -13%
Other Income 1 -0 1 2 1 -2 3 5 1
Interest 5 6 7 6 6 6 5 5 3
Depreciation 19 21 21 20 25 25 25 25 22
Profit before tax 31 39 33 42 23 21 20 15 -40
Tax % 31% 34% 35% 36% 38% 17% 32% 17% 22%
Net Profit 22 26 21 27 14 17 14 12 -31
EPS in Rs 3.63 4.30 3.54 4.41 2.31 2.86 2.27 2.02 -5.15
Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,482 1,513 1,611 1,946 2,336 1,943 1,521
1,343 1,372 1,466 1,743 2,092 1,757 1,399
Operating Profit 139 141 145 203 244 187 122
OPM % 9% 9% 9% 10% 10% 10% 8%
Other Income 6 1 8 4 6 10 6
Interest 41 42 43 43 24 20 18
Depreciation 52 55 58 68 81 98 95
Profit before tax 51 45 52 97 145 78 15
Tax % 25% 25% 20% 32% 34% 27%
Net Profit 38 33 41 65 95 57 12
EPS in Rs 7.48 6.54 8.07 10.80 15.81 9.45 2.00
Dividend Payout % 25% 54% 25% 19% 16% 21%
Compounded Sales Growth
10 Years:%
5 Years:6%
3 Years:6%
TTM:-34%
Compounded Profit Growth
10 Years:%
5 Years:8%
3 Years:12%
TTM:-83%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:-6%
Return on Equity
10 Years:%
5 Years:12%
3 Years:12%
Last Year:8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
10 51 51 60 60 60
Reserves 249 222 251 574 659 702
Borrowings 370 395 460 484 268 277
286 296 305 467 475 327
Total Liabilities 916 965 1,067 1,585 1,462 1,367
476 528 595 678 743 831
CWIP 40 55 29 72 37 33
Investments 3 4 11 24 39 48
396 377 433 811 642 454
Total Assets 916 965 1,067 1,585 1,462 1,367

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
100 144 96 188 133 239
-118 -103 -107 -186 -141 -112
20 -41 14 247 -243 -124
Net Cash Flow 2 -0 2 249 -251 3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 14% 13% 15% 16% 10%
Debtor Days 46 40 47 50 53 36
Inventory Turnover 6.03 6.23 6.52 6.88 5.69

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
70.14 70.14 70.17 70.21 70.23 70.24 70.25 70.25 70.29 70.29 70.30
3.76 4.53 4.44 3.48 2.63 3.07 2.68 2.63 3.58 3.58 3.55
9.06 12.22 13.00 14.44 15.42 14.62 15.34 15.74 15.22 15.55 15.06
17.03 13.10 12.39 11.87 11.72 12.08 11.73 11.38 10.92 10.58 11.10

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