Sharda Motor Industries Ltd

About

Sharda Motor Industries Ltd is primarily engaged in the manufacturing and assembly of Auto Components and White Goods Components.[1]

Key Points

Product Portfolio
The company's product portfolio includes exhaust systems, catalytic convertors, suspension systems, sheet metal components and plastic parts for the automotive and white goods industries.[1]

See full details
  • Market Cap 2,056 Cr.
  • Current Price 691
  • High / Low 755 / 163
  • Stock P/E 20.2
  • Book Value 145
  • Dividend Yield 0.38 %
  • ROCE 25.0 %
  • ROE 15.9 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter

Cons

  • Dividend payout has been low at 0.78% of profits over last 3 years
  • Debtor days have increased from 53.33 to 68.17 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
299 258 285 254 210 215 237 104 444 584 604 472
261 226 247 225 192 190 212 112 410 533 552 432
Operating Profit 38 33 38 28 18 25 25 -9 34 51 52 40
OPM % 13% 13% 13% 11% 9% 12% 10% -8% 8% 9% 9% 9%
Other Income 3 6 9 5 12 7 3 4 6 6 6 6
Interest 0 0 0 0 11 0 0 0 0 0 0 0
Depreciation 10 10 12 10 0 12 12 8 11 12 13 10
Profit before tax 31 29 35 23 20 20 16 -13 29 45 45 36
Tax % 29% 31% 30% 30% 10% 25% 45% 27% 25% 25% 26% 26%
Net Profit 24 21 27 18 19 14 6 -11 21 31 26 24
EPS in Rs 7.97 7.19 9.03 5.90 6.26 4.87 2.09 -3.67 6.95 10.43 8.72 8.21

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
385 453 591 700 751 927 1,042 1,155 1,140 863 1,737 2,105
345 416 528 645 687 841 912 1,010 994 767 1,607 1,927
Operating Profit 40 37 63 55 65 87 130 145 145 96 129 178
OPM % 10% 8% 11% 8% 9% 9% 12% 13% 13% 11% 7% 8%
Other Income 7 3 5 5 5 19 4 16 21 24 21 24
Interest 4 9 8 8 9 12 8 2 0 1 1 1
Depreciation 15 18 22 24 31 44 50 44 41 40 44 46
Profit before tax 28 12 38 28 29 50 76 116 125 78 105 155
Tax % 26% 40% 33% 22% 9% -1% 27% 33% 31% 26% 25%
Net Profit 22 8 27 24 28 35 61 88 95 52 67 102
EPS in Rs 7.27 2.69 8.93 8.17 9.60 11.89 20.51 29.62 31.87 17.64 22.44 34.31
Dividend Payout % 28% 74% 22% 25% 21% 11% 12% 8% 0% 0% 2%
Compounded Sales Growth
10 Years:10%
5 Years:13%
3 Years:15%
TTM:175%
Compounded Profit Growth
10 Years:11%
5 Years:12%
3 Years:-9%
TTM:260%
Stock Price CAGR
10 Years:%
5 Years:25%
3 Years:31%
1 Year:307%
Return on Equity
10 Years:%
5 Years:19%
3 Years:16%
Last Year:16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
6 6 6 6 6 6 6 6 6 6 6
Reserves 97 98 118 136 157 241 300 379 469 359 425
Borrowings 83 92 96 106 126 121 59 0 0 11 12
127 119 122 145 149 179 207 232 246 247 530
Total Liabilities 313 315 342 392 438 547 572 616 721 622 973
117 128 151 181 229 243 204 179 194 186 179
CWIP 27 32 23 21 11 4 1 0 0 1 0
Investments 10 10 11 13 14 47 100 136 121 40 41
159 145 157 177 184 253 267 301 406 395 753
Total Assets 313 315 342 392 438 547 572 616 721 622 973

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
33 28 52 58 55 92 164 116 95 -64 148
-60 -27 -34 -62 -59 -61 -84 -30 -42 73 -152
44 -16 -11 -2 5 -43 -77 -70 -5 -1 -1
Net Cash Flow 17 -16 7 -7 1 -12 3 16 48 8 -6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 52 55 48 40 46 40 38 39 42 50 68
Inventory Days 38 44 41 46 41 47 37 40 48 67 36
Days Payable 84 84 77 78 72 71 84 85 90 129 121
Cash Conversion Cycle 6 15 13 8 15 16 -9 -6 1 -13 -17
Working Capital Days 16 23 21 17 18 16 2 -1 2 -3 -11
ROCE % 11% 21% 14% 13% 24% 30% 28% 17% 25%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
73.20 73.20 73.20 73.20 73.20 73.20 73.20 73.20 73.20 73.20 73.20 73.20
0.52 0.52 0.51 0.34 0.25 0.23 0.18 0.17 0.17 0.20 0.17 0.27
0.04 0.09 0.21 0.25 0.50 0.76 0.84 1.00 1.00 0.84 0.00 0.00
0.12 0.12 0.12 0.12 0.12 0.00 0.00 0.00 0.00 0.00 0.12 0.12
26.12 26.07 25.96 26.10 25.93 25.81 25.78 25.64 25.63 25.76 26.51 26.41

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