Steel Strips Wheels Ltd

About [ edit ]

Company Overview
Steel Strips Wheels Ltd was incorporated in 1985 and started its operations in 1991. It designs, manufactures, and supplies Steel Wheel Rims and Alloy Wheels for a wide range of domestic and global automobile makers. It is Headquarter in Chandigarh. #

Key Points [ edit ]
  • Market Cap 1,090 Cr.
  • Current Price 698
  • High / Low 728 / 316
  • Stock P/E
  • Book Value 432
  • Dividend Yield 0.00 %
  • ROCE 7.24 %
  • ROE 3.43 %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 6.37% over past five years.
  • Company has a low return on equity of 9.74% for last 3 years.
  • Promoters have pledged 45.12% of their holding.
  • Dividend payout has been low at 5.29% of profits over last 3 years
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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
431 501 531 483 527 471 362 344 387 120 405 525
375 437 467 421 470 415 321 301 356 118 355 459
Operating Profit 56 64 64 62 57 56 41 43 31 2 50 66
OPM % 13% 13% 12% 13% 11% 12% 11% 12% 8% 2% 12% 12%
Other Income 7 2 5 4 7 4 7 4 8 1 5 4
Interest 20 22 25 23 23 23 23 21 22 23 22 20
Depreciation 15 15 16 16 15 18 18 18 18 17 18 18
Profit before tax 29 28 28 27 26 19 8 7 -1 -37 15 31
Tax % 24% 23% 25% 27% 22% 23% -2% 15% -310% -4% 9% 7%
Net Profit 22 22 21 20 20 15 8 6 -5 -38 14 29
EPS in Rs 14.40 13.83 13.66 12.59 12.78 9.44 4.93 4.03 -3.37 -24.43 8.99 18.42
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
315 416 652 953 968 1,056 1,148 1,177 1,330 1,518 2,041 1,563 1,437
270 355 565 860 873 957 1,041 1,031 1,165 1,318 1,795 1,392 1,288
Operating Profit 45 61 87 93 95 99 108 145 165 200 246 171 149
OPM % 14% 15% 13% 10% 10% 9% 9% 12% 12% 13% 12% 11% 10%
Other Income 1 1 2 10 11 19 21 19 20 13 17 22 18
Interest 16 17 20 28 30 41 41 43 51 64 93 89 87
Depreciation 17 25 33 43 50 53 38 42 48 53 62 72 71
Profit before tax 13 20 36 33 27 25 49 79 86 97 109 33 8
Tax % 39% 26% 16% 13% 6% 3% 19% 23% 35% 23% 24% 28%
Net Profit 8 15 30 29 25 24 39 61 56 75 82 23 -1
EPS in Rs 5.97 10.66 20.08 19.38 16.47 16.00 25.82 40.09 35.85 48.27 52.83 15.04 -0.39
Dividend Payout % 0% 9% 7% 8% 9% 9% 8% 7% 8% 8% 8% 0%
Compounded Sales Growth
10 Years:14%
5 Years:6%
3 Years:6%
TTM:-16%
Compounded Profit Growth
10 Years:5%
5 Years:-10%
3 Years:-25%
TTM:-101%
Stock Price CAGR
10 Years:11%
5 Years:16%
3 Years:-12%
1 Year:1%
Return on Equity
10 Years:10%
5 Years:11%
3 Years:10%
Last Year:3%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
13 13 15 15 15 15 15 15 16 16 16 16 16
Reserves 157 170 268 294 327 349 383 444 496 569 644 682 658
Borrowings 235 300 424 505 612 658 631 674 870 1,103 988 1,001 847
74 126 130 145 131 162 170 196 349 489 506 480 603
Total Liabilities 479 610 837 959 1,086 1,184 1,200 1,329 1,732 2,176 2,153 2,179 2,124
342 338 496 564 574 571 542 705 745 1,029 1,329 1,307 1,274
CWIP 18 85 37 50 97 120 154 52 352 323 53 85 100
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
118 187 303 344 414 492 504 572 635 823 771 787 749
Total Assets 479 610 837 959 1,086 1,184 1,200 1,329 1,732 2,176 2,153 2,179 2,124

Cash Flows

Figures in Rs. Crores

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 50 33 76 78 115 152 95 121 233 184 104
-63 -88 -142 -123 -104 -62 -34 -91 -375 -299 -80 -69
44 56 112 43 67 -71 -63 18 253 76 -113 -64
Net Cash Flow -1 18 2 -4 41 -18 55 22 -1 10 -10 -29

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 8% 8% 9% 8% 6% 6% 9% 11% 11% 10% 12% 7%
Debtor Days 51 55 51 53 56 74 52 52 56 75 35 49
Inventory Turnover 4.67 4.27 3.86 4.81 5.22 5.30 5.68 5.18 5.17 4.31 4.51 3.05

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 Dec 2020
57.63 57.63 57.64 57.89 58.79 60.08 61.10 61.65 62.85 62.85 62.85 62.77
0.59 0.68 0.64 0.58 0.58 0.58 0.58 0.58 0.58 0.58 0.80 0.63
2.56 1.48 1.30 1.07 0.44 0.43 0.44 0.44 0.44 0.40 0.71 0.71
39.23 40.21 40.42 40.46 40.19 38.90 37.89 37.32 36.14 36.17 35.64 35.89

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