Sundaram Clayton Ltd

Sundaram Clayton is engaged in manufactures non-ferrous gravity and pressure die castings.

Pros:
Company has been maintaining a healthy dividend payout of 57.70%
Cons:
Stock is trading at 7.09 times its book value
The company has delivered a poor growth of 10.03% over past five years.
Tax rate seems low
Earnings include an other income of Rs.110.37 Cr.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Auto Ancillaries // Industry: Auto Ancillaries

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
346 352 338 359 373 412 405 454 469 488 469 407
317 321 300 324 355 430 430 415 432 432 430 372
Operating Profit 29 31 37 35 18 -18 -26 39 36 56 39 35
OPM % 8% 9% 11% 10% 5% -4% -6% 9% 8% 12% 8% 9%
Other Income 7 0 39 30 2 1 55 37 5 -1 58 49
Interest 8 7 8 5 8 8 9 9 13 16 14 13
Depreciation 15 15 16 15 16 17 19 20 20 22 24 26
Profit before tax 14 8 52 45 -4 -43 1 46 9 17 59 45
Tax % 16% 5% 8% 16% -0% 5% 0% -112% 18% 29% 15% -11%
Net Profit 11 8 48 38 -4 -41 1 98 7 12 50 50
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
816 427 492 492 806 1,017 1,019 1,197 1,346 1,418 1,395 1,643 1,833
689 387 469 467 720 910 929 1,089 1,223 1,279 1,262 1,630 1,666
Operating Profit 127 39 24 25 86 107 90 108 123 139 132 13 167
OPM % 16% 9% 5% 5% 11% 11% 9% 9% 9% 10% 9% 1% 9%
Other Income 50 37 41 48 22 60 38 42 58 111 77 94 110
Interest 17 13 26 22 22 38 44 36 37 32 29 34 55
Depreciation 33 28 31 38 41 47 51 53 60 55 61 73 92
Profit before tax 128 35 7 14 45 81 32 61 84 163 120 1 130
Tax % 29% 32% 9% 10% 18% 11% -10% 12% 16% 11% 12% -6,438%
Net Profit 91 24 6 12 37 72 35 54 71 144 106 55 120
EPS in Rs 8.08 2.12 2.16 4.68 13.94 52.05 18.68 26.41 35.16 71.33 51.97 27.13
Dividend Payout % 35% 30% 60% 54% 59% 15% 75% 73% 54% 57% 60% 55%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:14.43%
5 Years:10.03%
3 Years:6.87%
TTM:11.57%
Compounded Profit Growth
10 Years:9.93%
5 Years:10.00%
3 Years:-7.19%
TTM:117.88%
Return on Equity
10 Years:15.36%
5 Years:17.97%
3 Years:18.23%
Last Year:8.61%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
19 9 9 19 19 9 9 10 10 10 10 10 10
Reserves 325 230 230 226 241 273 283 334 364 493 602 654 679
Borrowings 216 267 339 289 360 390 414 362 378 369 354 666 679
173 111 93 107 196 263 224 257 238 272 307 521 365
Total Liabilities 733 618 672 641 815 935 930 962 991 1,145 1,273 1,851 1,733
313 224 265 296 333 310 397 397 409 435 495 617 747
CWIP 13 16 39 11 33 85 12 9 9 22 37 82 13
Investments 82 69 67 73 68 58 56 56 61 137 215 281 295
325 308 301 260 381 482 465 501 512 550 527 869 677
Total Assets 733 618 672 641 815 935 930 962 991 1,145 1,273 1,851 1,733

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
19 16 43 105 44 33 75 91 85 129 169 -59
-48 91 -76 -41 -85 -8 -21 -7 -41 -2 -62 -188
24 -108 59 -83 -29 -25 -130 4 -62 -53 -107 124
Net Cash Flow -5 -1 25 -20 -70 1 -76 88 -18 75 -0 -123

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 28% 8% 6% 6% 11% 15% 11% 13% 16% 23% 16% 3%
Debtor Days 62 73 64 54 54 57 58 56 49 48 45 64
Inventory Turnover 9.29 3.88 4.06 4.04 5.65 5.69 5.19 6.14 6.92 6.50 5.92 5.51