Sundaram Brake Linings Ltd

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

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 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

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
91.77 93.17 85.36 84.80 89.03 83.71 83.25 88.30 96.96 92.01 78.03 84.19 90.43
87.32 86.89 80.27 78.84 88.35 79.94 79.76 85.60 93.58 90.42 80.17 83.60 81.95
Operating Profit 4.45 6.28 5.09 5.96 0.68 3.77 3.49 2.70 3.38 1.59 -2.14 0.59 8.48
OPM % 4.85% 6.74% 5.96% 7.03% 0.76% 4.50% 4.19% 3.06% 3.49% 1.73% -2.74% 0.70% 9.38%
0.42 0.39 0.86 0.06 1.96 0.43 0.49 1.00 0.89 0.53 1.51 0.32 2.01
Interest 1.04 1.01 0.88 0.70 0.77 0.85 0.87 1.13 1.18 1.02 0.78 0.75 0.68
Depreciation 1.62 1.54 1.59 1.62 1.63 1.53 1.54 1.55 1.35 1.59 1.71 1.35 1.65
Profit before tax 2.21 4.12 3.48 3.70 0.24 1.82 1.57 1.02 1.74 -0.49 -3.12 -1.19 8.16
Tax % 2.26% 14.81% 18.10% 14.86% -141.67% 18.13% 6.37% 12.75% 24.14% 8.16% 0.00% 4.20% 8.58%
2.16 3.50 2.86 3.16 0.58 1.49 1.47 0.89 1.32 -0.53 -3.12 -1.24 7.47
EPS in Rs 5.49 8.90 7.27 8.03 1.47 3.79 3.74 2.26 3.35 -1.35 -7.93 -3.15 18.99
Raw PDF

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
%
Revenue by Segment - Exports
INR Lakhs
Total Employee Count
Number
Revenue by Segment - Aftermarket
INR Lakhs
Revenue by Segment - OEM
INR Lakhs
R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
65.54% 65.54% 65.54% 65.54% 65.54% 65.54% 65.54% 63.93% 63.93% 63.93% 63.94% 63.94%
0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.02% 0.00% 0.01% 0.00% 0.00% 0.00%
34.46% 34.45% 34.46% 34.46% 34.45% 34.44% 34.44% 36.06% 36.04% 36.06% 36.06% 36.06%
No. of Shareholders 8,4848,1877,7907,7457,9768,0398,6128,3938,4808,7738,6248,555

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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