Eastern Treads Ltd

₹ 44.8 1.91%

22 Nov - close price

About

Incorporated in 1993, Eastern Treads Limited is in the business of manufacturing and dealing with tread rubber, rubber-based adhesives, tire-retreading accessories and retreading services, rubber-based adhesives, tyre retreading accessories, and retreading services. The registered office of the company is in Kerala. ^[1]^[2]

Key Points

Product Portfolio:^[1]
Equipped with hot and cold processes, Eastern Treads has a wide range of radial patterns and retread materials that suits almost every tyre size of all vehicles viz.,
a) Precured Tread Rubber^[2]
b) Hot Rubber Slab & Camel Back Treads^[3]
c) Bonding Gum^[4]
d) Black Vulcanizing Cement^[5]
e) Repair Patches^[6]

Website BSE

Market Cap ₹ 23.4 Cr.
Current Price ₹ 44.8
High / Low ₹ 51.4 / 31.0
Stock P/E
Book Value ₹ -22.8
Dividend Yield 0.00 %
ROCE -0.62 %
ROE %
Face Value ₹ 10.0

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Pros

Company's working capital requirements have reduced from 71.5 days to 54.8 days

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -9.39% over past five years.

* 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: Plantation & Plantation Products Industry: Miscellaneous

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	20.64	15.60	21.28	16.87	13.25	15.36	14.36	14.53	15.44	14.79	14.77	14.20	14.24
	21.48	16.70	24.18	17.72	14.21	15.78	15.01	14.62	15.28	14.16	14.64	14.79	14.92
Operating Profit	-0.84	-1.10	-2.90	-0.85	-0.96	-0.42	-0.65	-0.09	0.16	0.63	0.13	-0.59	-0.68
OPM %	-4.07%	-7.05%	-13.63%	-5.04%	-7.25%	-2.73%	-4.53%	-0.62%	1.04%	4.26%	0.88%	-4.15%	-4.78%
	0.11	0.11	0.06	0.03	-0.00	0.03	0.02	0.01	0.03	0.16	0.04	0.01	0.07
Interest	0.83	0.85	0.73	0.61	0.78	1.00	0.84	0.80	0.79	0.64	0.75	0.62	0.57
Depreciation	0.47	0.44	0.43	0.42	0.41	0.40	0.42	0.38	0.33	0.28	0.23	0.22	0.22
Profit before tax	-2.03	-2.28	-4.00	-1.85	-2.15	-1.79	-1.89	-1.26	-0.93	-0.13	-0.81	-1.42	-1.40
Tax %	-3.45%	-2.19%	-0.75%	-3.78%	-2.33%	-2.79%	-14.81%	-1.59%	-2.15%	-15.38%	-13.58%	-2.11%	-32.86%
	-1.96	-2.23	-3.97	-1.78	-2.10	-1.74	-1.61	-1.23	-0.90	-0.11	-0.71	-1.40	-0.94
EPS in Rs	-3.75	-4.26	-7.59	-3.40	-4.01	-3.33	-3.08	-2.35	-1.72	-0.21	-1.36	-2.68	-1.80
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	65.00	89.24	85.28	84.45	90.59	94.38	97.46	77.45	66.60	72.28	59.84	59.53	58.00
	62.37	85.47	82.49	76.88	84.69	91.70	93.59	73.18	62.55	77.48	62.72	58.70	58.51
Operating Profit	2.63	3.77	2.79	7.57	5.90	2.68	3.87	4.27	4.05	-5.20	-2.88	0.83	-0.51
OPM %	4.05%	4.22%	3.27%	8.96%	6.51%	2.84%	3.97%	5.51%	6.08%	-7.19%	-4.81%	1.39%	-0.88%
	0.04	0.33	2.11	0.11	0.70	0.22	0.48	0.33	0.49	0.34	0.08	0.24	0.28
Interest	0.58	0.83	1.54	1.38	2.97	3.27	3.61	3.23	3.31	3.20	3.23	2.97	2.58
Depreciation	0.59	0.79	0.95	1.16	1.82	2.11	2.63	2.47	2.12	1.83	1.65	1.22	0.95
Profit before tax	1.50	2.48	2.41	5.14	1.81	-2.48	-1.89	-1.10	-0.89	-9.89	-7.68	-3.12	-3.76
Tax %	28.67%	33.87%	34.85%	33.66%	27.07%	-7.26%	-9.52%	2.73%	-35.96%	-2.12%	-5.86%	-5.45%
	1.07	1.64	1.58	3.41	1.32	-2.29	-1.71	-1.12	-0.57	-9.68	-7.23	-2.95	-3.16
EPS in Rs	1.91	2.93	3.02	6.52	2.52	-4.38	-3.27	-2.14	-1.09	-18.50	-13.82	-5.64	-6.05
Dividend Payout %	-0.00%	-0.00%	17.12%	15.39%	20.49%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%	-0.00%

Compounded Sales Growth
10 Years:	-4%
5 Years:	-9%
3 Years:	-4%
TTM:	-3%

Compounded Profit Growth
10 Years:	%
5 Years:	-23%
3 Years:	%
TTM:	42%

Stock Price CAGR
10 Years:	1%
5 Years:	8%
3 Years:	-4%
1 Year:	21%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	5.27	5.35	5.41	5.41	5.41	5.41	5.41	5.41	5.41	5.41	5.41	5.41	5.41
Reserves	-1.93	-0.29	0.97	3.76	7.16	4.49	2.58	1.40	0.85	-4.92	-12.27	-15.07	-17.33
	14.49	21.89	19.34	17.27	21.35	25.88	28.44	33.55	33.17	32.70	33.60	30.97	31.38
	5.28	9.04	10.25	13.32	19.54	20.10	19.21	14.12	13.68	13.88	10.86	14.09	14.15
Total Liabilities	23.11	35.99	35.97	39.76	53.46	55.88	55.64	54.48	53.11	47.07	37.60	35.40	33.61
	4.29	6.50	8.82	11.08	15.96	15.89	16.87	14.33	12.00	16.03	14.29	13.51	13.19
CWIP	0.01	-0.00	0.35	0.26	0.36	2.53	0.18	0.16	0.24	0.17	-0.00	-0.00	-0.00
Investments	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	0.03	0.03	0.03	-0.00	-0.00	-0.00	-0.00
	18.81	29.49	26.80	28.42	37.14	37.46	38.56	39.96	40.84	30.87	23.31	21.89	20.42
Total Assets	23.11	35.99	35.97	39.76	53.46	55.88	55.64	54.48	53.11	47.07	37.60	35.40	33.61

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	2.66	-0.81	5.82	5.62	-0.49	3.51	2.00	-1.32	4.46	1.40	4.80	2.90
	-1.18	-4.23	-2.34	-3.41	-4.12	-4.25	-1.24	-1.31	-0.56	2.62	-0.17	0.26
	-1.45	7.63	-2.80	-2.65	5.24	1.02	-1.03	1.87	-3.65	-3.65	-4.95	-2.90
Net Cash Flow	0.03	2.59	0.68	-0.43	0.63	0.28	-0.27	-0.76	0.25	0.36	-0.32	0.25

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	44.75	60.62	40.06	50.27	96.74	99.27	99.36	121.31	140.63	100.95	79.66	74.13
Inventory Days	37.26	40.62	47.33	51.70	56.85	42.33	45.76	74.90	87.16	52.12	64.56	67.92
Days Payable	28.46	38.32	42.15	55.97	71.77	76.89	67.21	63.64	75.29	52.19	54.63	90.09
Cash Conversion Cycle	53.55	62.92	45.24	46.00	81.83	64.71	77.91	132.56	152.49	100.88	89.59	51.96
Working Capital Days	65.03	72.48	56.84	53.25	62.89	59.40	69.17	120.22	151.92	95.39	64.47	54.75
ROCE %	11.59%	14.78%	11.01%	25.00%	15.84%	2.27%	4.76%	5.55%	6.07%	-18.42%	-14.85%	-0.62%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	65.63%	65.67%	65.67%	65.66%	65.66%	65.66%	65.66%	65.66%	65.66%	66.25%	66.25%	66.25%
	34.37%	34.33%	34.33%	34.33%	34.34%	34.34%	34.34%	34.33%	34.33%	33.73%	33.73%	33.74%
No. of Shareholders	2,169	2,152	2,144	1,887	1,887	1,876	1,875	1,858	1,847	1,969	2,047	2,084

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	65.50%	65.34%	65.39%	65.39%	65.45%	65.67%	65.66%	66.25%	66.25%
	34.50%	34.66%	34.61%	34.61%	34.55%	34.33%	34.34%	33.73%	33.74%
No. of Shareholders	2,227	2,030	2,026	1,996	2,010	2,152	1,876	1,969	2,084

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Concalls

Mar 2020

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Nov 2019

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Aug 2019

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Jun 2019

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Feb 2019

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Nov 2018

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Aug 2018

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May 2018

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Feb 2018

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Dec 2017

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Sep 2017

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Sep 2017

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May 2017

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Feb 2017

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Nov 2016

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Jul 2016

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Apr 2016

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