Sundaram Clayton Ltd

About

Sundaram Clayton Ltd was incorporated in Chennai in 1962 and is part of the TVS group, led by Mr. Venu Srinivasan. It is engaged in the business of manufacturing and distributing aluminum die castings. [1] Sundaram Clayton manufactures non-ferrous gravity and pressure die castings.

Key Points

Brand Reputation
It is the leading manufacturer of aluminum die-casting components.
It supplies its product to major bands like the TVS Motor, the Cummins Group, the Volvo Group, and many more. [1]

See full details
  • Market Cap 7,429 Cr.
  • Current Price 3,672
  • High / Low 4,250 / 1,573
  • Stock P/E 15.1
  • Book Value 1,436
  • Dividend Yield 0.71 %
  • ROCE 11.8 %
  • ROE 12.4 %
  • Face Value 5.00

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 17.24%

Cons

  • Stock is trading at 2.56 times its book value
  • Promoter holding has decreased over last quarter: -72.68%
  • The company has delivered a poor sales growth of 10.25% over past five years.
  • Promoter holding is low: 2.32%
  • Company might be capitalizing the interest cost
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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
5,824.99 5,473.02 5,271.12 5,307.13 5,220.75 4,989.97 4,340.89 2,021.09 5,463.58 6,374.49 6,439.57 4,972.54
5,158.23 4,862.91 4,736.48 4,707.92 4,596.23 4,343.76 3,806.17 1,973.23 4,789.47 5,552.60 5,600.60 4,508.75
Operating Profit 666.76 610.11 534.64 599.21 624.52 646.21 534.72 47.86 674.11 821.89 838.97 463.79
OPM % 11.45% 11.15% 10.14% 11.29% 11.96% 12.95% 12.32% 2.37% 12.34% 12.89% 13.03% 9.33%
Other Income 0.43 2.14 22.89 17.01 74.90 -65.47 -27.30 10.40 11.74 15.36 5.78 -39.05
Interest 183.32 180.87 196.52 221.53 215.69 228.53 244.19 227.01 250.54 231.97 219.59 232.04
Depreciation 132.54 139.81 136.97 158.08 159.48 150.26 180.83 124.77 170.40 169.12 178.45 188.48
Profit before tax 351.33 291.57 224.04 236.61 324.25 201.95 82.40 -293.52 264.91 436.16 446.71 4.22
Tax % 32.43% 34.48% 30.30% 34.14% 19.21% 21.45% 39.17% 19.73% 28.42% 24.17% 31.20% 289.57%
Net Profit 137.18 107.36 90.71 89.30 149.77 88.84 9.21 -156.64 110.79 202.37 167.16 1.61
EPS in Rs 67.80 53.06 44.83 44.14 74.03 43.91 4.55 -77.42 54.76 100.02 82.62 0.80

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
5,176 7,382 8,297 8,226 9,344 11,340 12,464 13,498 17,512 21,548 19,859 20,299 23,250
5,245 6,934 7,737 7,704 8,762 10,622 11,506 12,494 15,973 19,205 17,446 17,911 20,451
Operating Profit -69 448 561 522 582 717 959 1,004 1,539 2,343 2,412 2,388 2,799
OPM % -1% 6% 7% 6% 6% 6% 8% 7% 9% 11% 12% 12% 12%
Other Income 368 21 46 133 68 98 102 171 121 28 -8 38 -6
Interest 165 106 130 148 115 99 102 88 372 719 910 929 934
Depreciation 182 181 206 226 214 238 317 377 447 534 649 643 706
Profit before tax -49 182 270 282 320 478 641 710 841 1,118 845 854 1,152
Tax % 9% 33% 38% 31% 40% 29% 26% 23% 25% 33% 26% 31%
Net Profit -44 123 166 186 141 212 292 330 338 432 337 324 482
EPS in Rs -11.61 32.39 43.84 98.06 69.80 104.84 144.26 163.21 167.13 213.59 166.63 159.98 238.20
Dividend Payout % -31% 26% 10% 21% 37% 18% 28% 19% 9% 17% 19% 16%
Compounded Sales Growth
10 Years:11%
5 Years:10%
3 Years:5%
TTM:40%
Compounded Profit Growth
10 Years:11%
5 Years:5%
3 Years:-1%
TTM:401%
Stock Price CAGR
10 Years:34%
5 Years:4%
3 Years:2%
1 Year:120%
Return on Equity
10 Years:16%
5 Years:16%
3 Years:15%
Last Year:12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
19 19 9 9 10 10 10 10 10 10 10 10
Reserves 529 563 689 885 1,111 1,278 1,513 1,857 2,141 2,464 2,453 2,894
Borrowings 1,536 1,498 1,679 1,482 1,090 1,497 1,461 1,665 7,593 10,022 12,314 12,853
1,313 1,728 1,834 1,907 2,345 2,740 3,233 3,785 5,016 5,674 5,835 7,551
Total Liabilities 3,397 3,808 4,212 4,283 4,555 5,525 6,216 7,317 14,761 18,170 20,612 23,309
1,477 1,643 1,772 1,980 1,909 2,040 2,468 2,851 3,627 4,030 4,460 4,850
CWIP 41 90 270 48 57 102 69 101 396 756 1,017 1,050
Investments 445 300 358 410 499 601 1,055 1,333 607 618 472 673
1,433 1,775 1,812 1,845 2,090 2,782 2,624 3,032 10,131 12,766 14,663 16,735
Total Assets 3,397 3,808 4,212 4,283 4,555 5,525 6,216 7,317 14,761 18,170 20,612 23,309

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
469 256 482 459 567 138 1,075 838 324 -710 458 1,215
-67 -119 -492 -114 -22 -461 -715 -818 -1,379 -1,324 -1,055 -979
-158 -108 13 -395 -474 179 -373 -61 1,198 2,085 1,795 261
Net Cash Flow 245 29 4 -50 71 -144 -13 -40 143 51 1,199 496

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 24 21 17 20 20 19 19 23 27 29 29 22
Inventory Days 50 56 55 55 49 58 48 55 44 41 42 46
Days Payable 84 58 55 63 67 77 76 83 94 84 96 125
Cash Conversion Cycle -10 19 17 13 3 -0 -8 -5 -22 -14 -25 -57
Working Capital Days 21 16 12 14 9 19 7 6 67 79 93 71
ROCE % -0% 13% 17% 14% 17% 21% 24% 25% 19% 17% 13% 12%

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
75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
0.62 0.62 0.62 0.75 0.74 0.74 0.70 0.66 0.63 0.43 0.32 0.30
15.57 15.39 15.32 15.18 15.20 15.08 15.06 14.83 14.49 14.47 14.25 14.23
8.81 8.99 9.06 9.07 9.06 9.18 9.24 9.51 9.88 10.10 10.43 10.47

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