TVS Srichakra Ltd

About [ edit ]

TVS Srichakra is engaged in the business of two-wheeler, three-wheeler and other industrial tyre manufacturing.

  • Market Cap 1,421 Cr.
  • Current Price 1,855
  • High / Low 2,273 / 758
  • Stock P/E 22.5
  • Book Value 976
  • Dividend Yield 1.08 %
  • ROCE 11.3 %
  • ROE 11.2 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 24.95%

Cons

  • The company has delivered a poor sales growth of -0.68% over past five years.
  • Tax rate seems low

Peer comparison

Sector: Tyres Industry: Tyres

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
594 646 602 596 606 557 509 431 212 552 573
518 579 540 538 532 497 461 398 230 466 493
Operating Profit 75 67 61 58 73 61 48 34 -17 87 80
OPM % 13% 10% 10% 10% 12% 11% 9% 8% -8% 16% 14%
Other Income 1 3 -0 9 1 2 4 4 1 1 0
Interest 7 6 10 11 11 9 8 10 11 9 7
Depreciation 20 21 22 23 23 23 23 31 23 25 26
Profit before tax 49 43 29 33 40 30 20 -3 -50 54 48
Tax % 30% 34% 21% 46% 35% 36% 36% 935% 25% 26% 24%
Net Profit 34 28 23 18 26 20 13 24 -37 40 36
EPS in Rs 44.39 37.08 30.30 23.12 33.66 25.58 16.69 31.60 -48.62 52.04 47.37
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,091 1,453 1,652 1,938 2,176 2,185 1,961 2,152 2,431 2,104 1,769
992 1,324 1,552 1,787 1,958 1,858 1,676 1,899 2,168 1,887 1,586
Operating Profit 98 129 100 150 219 326 284 253 263 217 183
OPM % 9% 9% 6% 8% 10% 15% 14% 12% 11% 10% 10%
Other Income 6 5 33 2 -7 23 5 15 12 10 6
Interest 32 57 62 50 33 22 22 31 37 39 35
Depreciation 16 23 25 26 42 44 56 69 85 100 105
Profit before tax 57 55 47 77 137 284 211 169 153 87 49
Tax % 32% 28% 30% 15% 29% 33% 29% 31% 33% 6%
Net Profit 39 39 27 57 100 186 148 116 103 82 63
EPS in Rs 51.12 51.18 35.51 73.89 130.11 243.09 192.79 151.68 134.44 107.53 82.39
Dividend Payout % 24% 26% 21% 22% 26% 25% 26% 26% 30% 19%
Compounded Sales Growth
10 Years:%
5 Years:-1%
3 Years:2%
TTM:-22%
Compounded Profit Growth
10 Years:%
5 Years:-5%
3 Years:-18%
TTM:-17%
Stock Price CAGR
10 Years:23%
5 Years:-4%
3 Years:-19%
1 Year:27%
Return on Equity
10 Years:%
5 Years:22%
3 Years:15%
Last Year:11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
8 8 8 8 8 8 8 8 8 8 8
Reserves 106 133 154 206 275 404 553 631 721 737 740
Borrowings 256 402 297 383 274 145 315 312 426 351 221
279 367 484 428 414 412 515 475 655 520 531
Total Liabilities 648 911 942 1,025 970 969 1,391 1,426 1,809 1,616 1,499
155 248 278 344 382 384 532 620 662 687 676
CWIP 10 22 31 20 18 44 63 26 34 48 57
Investments 1 1 1 0 1 49 49 68 97 97 97
482 640 632 661 569 493 748 711 1,016 785 669
Total Assets 648 911 942 1,025 970 969 1,391 1,426 1,809 1,616 1,499

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
10 80 187 14 244 400 64 185 64 298
-65 -154 8 -89 -84 -120 -215 -102 -120 -134
52 78 -159 38 -158 -271 149 -79 52 -169
Net Cash Flow -3 5 35 -37 2 9 -3 5 -4 -5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 25% 16% 24% 31% 52% 32% 22% 18% 11%
Debtor Days 58 57 50 62 38 29 38 41 51 36
Inventory Turnover 3.48 3.84 4.92 5.30 5.43 3.78 3.65 3.80 2.82

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
45.36 45.36 45.36 45.36 45.36 45.36 45.36 45.36 45.36 45.36 45.36 45.36
2.80 2.95 2.88 2.92 1.97 1.40 1.08 1.19 1.05 0.97 0.94 1.13
4.87 5.40 5.18 5.23 5.53 5.69 6.05 6.06 6.06 5.93 5.58 6.26
46.96 46.29 46.57 46.49 47.13 47.54 47.51 47.38 47.52 47.73 48.11 47.24

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