Sundaram Brake Linings Ltd
₹ 739
-3.06%
29 May
- close price
About
Incorporated in 1978, Sundaram Brake Linings Ltd manufactures asbestos free friction materials[1]
Key Points
- Market Cap ₹ 291 Cr.
- Current Price ₹ 739
- High / Low ₹ 1,050 / 458
- Stock P/E 113
- Book Value ₹ 259
- Dividend Yield 0.20 %
- ROCE 4.35 %
- ROE 2.55 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 2.85 times its book value
- The company has delivered a poor sales growth of 7.79% over past five years.
- Company has a low return on equity of 6.18% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.4.38 Cr.
* 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.
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Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 237 | 228 | 228 | 247 | 286 | 258 | 237 | 295 | 355 | 352 | 352 | 345 | |
| 236 | 221 | 219 | 240 | 275 | 252 | 229 | 292 | 352 | 334 | 338 | 336 | |
| Operating Profit | 1 | 7 | 9 | 7 | 11 | 6 | 8 | 3 | 3 | 19 | 15 | 8 |
| OPM % | 0% | 3% | 4% | 3% | 4% | 2% | 3% | 1% | 1% | 5% | 4% | 2% |
| 1 | 2 | 2 | 3 | 3 | 5 | 1 | 5 | 3 | 3 | 3 | 4 | |
| Interest | 4 | 3 | 3 | 2 | 3 | 2 | 2 | 3 | 5 | 4 | 5 | 3 |
| Depreciation | 7 | 6 | 5 | 4 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 |
| Profit before tax | -9 | 0 | 1 | 4 | 6 | 3 | 2 | 0 | -5 | 12 | 6 | 3 |
| Tax % | 63% | 232% | -23% | -0% | -9% | 16% | -186% | 38% | -11% | 13% | 16% | 24% |
| -15 | -0 | 2 | 4 | 7 | 3 | 6 | 0 | -5 | 10 | 5 | 3 | |
| EPS in Rs | -36.98 | -1.04 | 4.47 | 9.56 | 17.92 | 6.40 | 15.25 | 0.20 | -12.15 | 25.64 | 13.14 | 6.53 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 8% | 11% | 10% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 8% |
| 3 Years: | -1% |
| TTM: | -2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 24% |
| 5 Years: | -16% |
| 3 Years: | 36% |
| TTM: | -50% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 16% |
| 3 Years: | 32% |
| 1 Year: | -13% |
| Return on Equity | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 2% |
| 3 Years: | 6% |
| Last Year: | 3% |
Balance Sheet
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 66 | 66 | 67 | 71 | 78 | 80 | 86 | 87 | 81 | 91 | 95 | 98 |
| 51 | 48 | 33 | 30 | 33 | 24 | 30 | 42 | 50 | 44 | 56 | 46 | |
| 56 | 54 | 56 | 65 | 73 | 71 | 62 | 65 | 71 | 67 | 70 | 61 | |
| Total Liabilities | 177 | 172 | 160 | 170 | 189 | 179 | 182 | 197 | 206 | 206 | 225 | 209 |
| 81 | 77 | 71 | 68 | 67 | 68 | 67 | 68 | 67 | 65 | 67 | 71 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 3 | 3 | 1 | 1 | 3 | 4 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| 96 | 94 | 89 | 103 | 122 | 107 | 112 | 127 | 137 | 137 | 154 | 138 | |
| Total Assets | 177 | 172 | 160 | 170 | 189 | 179 | 182 | 197 | 206 | 206 | 225 | 209 |
Cash Flows
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -1 | 8 | 19 | 4 | 3 | 17 | -4 | -2 | 1 | 15 | 0 | 21 | |
| -2 | -2 | -1 | 1 | -4 | -6 | -4 | -8 | -6 | -6 | -7 | -7 | |
| 2 | -9 | -18 | -5 | 2 | -12 | 5 | 10 | 5 | -9 | 7 | -14 | |
| Net Cash Flow | -1 | -2 | 0 | -0 | 0 | -0 | -3 | 0 | -0 | 0 | -0 | 0 |
| Free Cash Flow | -4 | 6 | 17 | 3 | -1 | 11 | -8 | -10 | -5 | 9 | -8 | 14 |
| CFO/OP | -146% | 186% | 182% | 25% | 32% | 311% | 31% | -46% | 40% | 94% | 10% | 249% |
Ratios
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 83 | 85 | 70 | 78 | 79 | 74 | 100 | 80 | 71 | 72 | 82 | 77 |
| Inventory Days | 90 | 85 | 105 | 100 | 98 | 112 | 103 | 107 | 95 | 88 | 107 | 98 |
| Days Payable | 106 | 119 | 89 | 91 | 84 | 99 | 106 | 93 | 81 | 87 | 100 | 81 |
| Cash Conversion Cycle | 67 | 51 | 87 | 87 | 93 | 87 | 97 | 93 | 85 | 72 | 88 | 94 |
| Working Capital Days | 3 | 0 | 18 | 28 | 31 | 38 | 43 | 33 | 26 | 34 | 36 | 39 |
| ROCE % | -4% | 3% | 4% | 6% | 8% | 5% | 3% | 0% | -1% | 11% | 8% | 4% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Number of Operational Manufacturing Plants Number |
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| R&D Expenditure as percentage of Revenue % |
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| Total Employee Count Number |
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| Revenue by Segment - Aftermarket INR Lakhs |
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| Revenue by Segment - OEM INR Lakhs |
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| R&D Expenditure (Percentage of Turnover) % |
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Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
27 May - Annual secretarial compliance report for FY2026 notes Rs 3.28 lakh NSE penalty and five-day BSE filing delay.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 26 May
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Announcement under Regulation 30 (LODR)-Cessation
25 May - Ms. Shobhana Ramachandhran resigned as Non-Executive Director effective close of business on 25 May 2026.
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Announcement under Regulation 30 (LODR)-Dividend Updates
25 May - Auditor issued unmodified report on Sundaram Brake Linings’ FY2026 annual financial results on 25 May 2026.
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Appointment of Company Secretary and Compliance Officer
25 May - Auditors issued clean report on Sundaram Brake Linings' FY2026 annual financial results.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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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