Sundaram Brake Linings Ltd

Sundaram Brake Linings Ltd

₹ 797 4.53%
18 Jun 4:01 p.m.
About

Incorporated in 1978, Sundaram Brake Linings Ltd manufactures asbestos free friction materials[1]

Key Points

Business Overview:[1]
SBLL is part of the T S Krishna Group, which in turn is part of the larger TVS Group. It is in the business of manufacturing automotive, non-automotive, railways and industrial friction materials. Its products are used in commercial vehicles, passenger cars, tractors (agricultural), railways and two wheelers. Company is a pioneer in manufacturing asbestos free friction materials in India, and the first Indian friction material company to become 100% asbestos free. SBL has a presence in the domestic OEM and Aftermarket. It services the Indian aftermarket through 140+ TVS owned wholesaler outlets

  • Market Cap 312 Cr.
  • Current Price 797
  • High / Low 939 / 346
  • Stock P/E 31.0
  • Book Value 242
  • Dividend Yield 0.00 %
  • ROCE 10.9 %
  • ROE 11.2 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 3.30 times its book value
  • The company has delivered a poor sales growth of 4.24% over past five years.
  • Company has a low return on equity of 1.18% over last 3 years.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Auto Ancillaries Industry: Auto Ancillaries

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
76.22 64.24 68.90 80.83 81.24 89.00 86.78 87.29 91.77 93.17 85.36 84.80 89.03
73.23 64.61 68.37 81.17 78.57 89.33 88.61 87.92 87.32 86.89 80.27 78.84 88.35
Operating Profit 2.99 -0.37 0.53 -0.34 2.67 -0.33 -1.83 -0.63 4.45 6.28 5.09 5.96 0.68
OPM % 3.92% -0.58% 0.77% -0.42% 3.29% -0.37% -2.11% -0.72% 4.85% 6.74% 5.96% 7.03% 0.76%
0.76 0.78 0.71 0.70 3.26 1.58 0.38 0.39 0.42 0.39 0.86 0.06 1.96
Interest 0.24 0.29 0.38 0.49 0.65 0.75 0.82 1.11 1.04 1.01 0.88 0.70 0.77
Depreciation 1.43 1.43 1.47 1.48 1.61 1.47 1.49 1.53 1.62 1.54 1.59 1.62 1.63
Profit before tax 2.08 -1.31 -0.61 -1.61 3.67 -0.97 -3.76 -2.88 2.21 4.12 3.48 3.70 0.24
Tax % 13.94% -0.00% 9.84% -0.00% 2.72% 54.64% 3.19% 0.69% 2.26% 14.81% 18.10% 14.86% -141.67%
1.79 -1.32 -0.55 -1.62 3.57 -0.44 -3.64 -2.86 2.16 3.50 2.86 3.16 0.58
EPS in Rs 4.55 -3.35 -1.40 -4.12 9.07 -1.12 -9.25 -7.27 5.49 8.90 7.27 8.03 1.47
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
232 247 237 228 228 247 286 258 237 295 355 352
226 241 236 221 219 240 275 252 229 292 352 334
Operating Profit 6 5 1 7 9 7 11 6 8 3 3 18
OPM % 2% 2% 0% 3% 4% 3% 4% 2% 3% 1% 1% 5%
1 6 1 2 2 3 3 5 1 5 3 3
Interest 3 3 4 3 3 2 3 2 2 3 5 3
Depreciation 8 8 7 6 5 4 5 5 6 6 6 6
Profit before tax -4 0 -9 0 1 4 6 3 2 0 -5 12
Tax % -7% 4,442% -63% 232% -23% -0% -9% 16% -186% 38% 11% 13%
-4 -5 -15 -0 2 4 7 3 6 0 -5 10
EPS in Rs -11.21 -13.27 -36.98 -1.04 4.47 9.56 17.92 6.40 15.25 0.20 -12.15 25.64
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% -0% 8%
Compounded Sales Growth
10 Years: 4%
5 Years: 4%
3 Years: 14%
TTM: -1%
Compounded Profit Growth
10 Years: 13%
5 Years: 7%
3 Years: 19%
TTM: 311%
Stock Price CAGR
10 Years: 13%
5 Years: 22%
3 Years: 24%
1 Year: 126%
Return on Equity
10 Years: 1%
5 Years: 3%
3 Years: 1%
Last Year: 11%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 4 4 4 4 4 4 4 4 4 4 4 4
Reserves 88 83 66 66 67 71 78 80 86 87 81 91
41 46 51 48 33 30 33 24 30 42 50 44
43 50 56 54 56 65 73 71 62 65 71 67
Total Liabilities 175 183 177 172 160 170 189 179 182 197 206 206
86 87 81 77 71 68 67 68 67 68 67 67
CWIP -0 -0 -0 -0 -0 -0 0 3 3 1 1 1
Investments -0 0 0 0 0 0 0 1 1 1 1 1
89 95 96 94 89 103 122 107 112 127 137 137
Total Assets 175 183 177 172 160 170 189 179 182 197 206 206

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
4 8 -1 8 19 4 3 17 -4 -2 1 15
-4 -9 -2 -2 -1 1 -4 -6 -4 -8 -6 -6
-4 2 2 -9 -18 -5 2 -12 5 10 5 -9
Net Cash Flow -4 1 -1 -2 -0 -0 0 -0 -3 0 -0 0

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 81 85 83 85 70 78 79 74 100 80 71 72
Inventory Days 80 66 90 85 105 100 98 112 103 107 95 88
Days Payable 74 66 106 119 89 91 84 99 106 93 87 87
Cash Conversion Cycle 86 85 67 51 87 87 93 87 97 93 79 72
Working Capital Days 78 68 61 65 67 73 73 72 87 85 73 75
ROCE % -1% -0% -4% 3% 4% 6% 8% 5% 3% 0% -1%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
65.54% 65.54% 65.54% 65.54% 65.54% 65.54% 65.54% 65.54% 65.54% 65.54% 65.54% 65.54%
34.46% 34.46% 34.46% 34.46% 34.46% 34.47% 34.46% 34.45% 34.46% 34.45% 34.46% 34.46%
No. of Shareholders 9,9099,1098,8978,7468,6158,6138,6358,5578,4848,1877,7907,745

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