Sundaram Brake Linings Ltd

About

Sundaram Brake Linings is engaged in manufactures asbestos free friction materials.

  • Market Cap 88.4 Cr.
  • Current Price 225
  • High / Low 360 / 124
  • Stock P/E
  • Book Value 213
  • Dividend Yield 0.00 %
  • ROCE 4.88 %
  • ROE 3.03 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 1.05 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor growth of 1.77% over past five years.
  • Company has a low return on equity of 5.69% for last 3 years.
  • Earnings include an other income of Rs.4.84 Cr.
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Quarterly Results

Figures in Rs. Crores

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
61.70 59.29 69.64 69.75 72.10 69.39 71.58 73.27 59.13 65.15 60.59 30.50
59.93 57.45 67.57 67.68 70.18 67.60 66.88 70.28 60.74 63.40 58.84 34.36
Operating Profit 1.77 1.84 2.07 2.07 1.92 1.79 4.70 2.99 -1.61 1.75 1.75 -3.86
OPM % 2.87% 3.10% 2.97% 2.97% 2.66% 2.58% 6.57% 4.08% -2.72% 2.69% 2.89% -12.66%
Other Income 0.52 0.26 -0.29 1.03 0.67 0.12 0.80 0.41 2.79 0.98 0.90 0.17
Interest 0.49 0.45 0.64 0.36 0.45 0.47 0.37 0.44 0.35 0.41 0.33 0.24
Depreciation 1.09 1.10 1.03 1.22 1.23 1.25 1.25 1.24 1.27 1.55 1.36 1.37
Profit before tax 0.71 0.55 0.11 1.52 0.91 0.19 3.88 1.72 -0.44 0.77 0.96 -5.30
Tax % 25.35% 1.82% -809.09% -5.92% -59.34% 15.79% 1.03% 26.16% 18.18% 37.66% -18.75% -0.94%
Net Profit 0.54 0.54 1.01 1.61 1.45 0.16 3.84 1.27 -0.36 0.48 1.14 -5.35
EPS in Rs 1.37 1.37 2.57 4.09 3.69 0.41 9.76 3.23 -0.91 1.22 2.90 -13.60
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
171 199 238 256 232 247 237 228 228 247 286 258 215
153 178 215 235 226 241 236 221 219 240 275 252 217
Operating Profit 18 21 23 20 6 5 1 7 9 7 11 6 -2
OPM % 11% 11% 10% 8% 2% 2% 0% 3% 4% 3% 4% 2% -1%
Other Income -6 -5 -6 -10 1 6 1 2 2 3 3 5 5
Interest 2 2 3 4 3 3 4 3 3 2 3 2 1
Depreciation 6 6 6 8 8 8 7 6 5 4 5 5 6
Profit before tax 4 8 8 -1 -4 0 -9 0 1 4 6 3 -4
Tax % -26% 19% 24% 148% -7% 4,442% -63% 232% -23% -0% -9% 16%
Net Profit 5 6 6 1 -4 -5 -15 -0 2 4 7 3 -4
EPS in Rs 15.68 16.01 1.42 -11.21 -13.27 -36.98 -1.04 4.47 9.56 17.92 6.40 -10.39
Dividend Payout % 24% 25% 25% 211% -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years:3%
5 Years:2%
3 Years:4%
TTM:-25%
Compounded Profit Growth
10 Years:-15%
5 Years:17%
3 Years:12%
TTM:-161%
Stock Price CAGR
10 Years:0%
5 Years:-0%
3 Years:-30%
1 Year:-9%
Return on Equity
10 Years:2%
5 Years:4%
3 Years:6%
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
3 4 4 4 4 4 4 4 4 4 4 4
Reserves 71 89 93 92 88 83 66 66 67 71 78 80
Borrowings 23 30 37 41 41 46 51 48 33 30 33 24
34 41 42 40 43 50 56 54 56 65 73 71
Total Liabilities 130 163 175 177 175 183 177 172 160 170 189 179
71 71 85 88 86 87 81 77 71 68 67 65
CWIP -0 1 -0 0 -0 -0 -0 -0 -0 -0 0 3
Investments 1 1 1 1 -0 0 0 0 0 0 0 1
58 91 90 88 89 95 96 94 89 103 122 110
Total Assets 130 163 175 177 175 183 177 172 160 170 189 179

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
16 5 4 8 4 8 -1 8 19 4 3 17
-2 -6 -18 -9 -4 -9 -2 -2 -1 1 -4 -6
-15 17 8 -2 -4 2 2 -9 -18 -5 2 -12
Net Cash Flow -1 16 -6 -4 -4 1 -1 -2 -0 -0 0 -0

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 % 13% 16% 14% 11% -1% -0% -4% 3% 4% 6% 8% 5%
Debtor Days 81 79 74 75 81 85 83 85 70 78 79 74
Inventory Turnover 9.37 11.23 12.36 10.47 7.05 6.73 5.64 4.84 4.49 4.47 4.73 3.83

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
65.54 65.54 65.54 65.54 65.54 65.54 65.54 65.54 65.54 65.54 65.54 65.54
0.70 0.65 0.68 0.57 0.57 0.57 0.00 0.00 0.04 0.00 0.00 0.00
33.76 33.80 33.78 33.89 33.89 33.89 34.46 34.46 34.42 34.46 34.46 34.46

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