Automotive Axles Ltd

Automotive Axles Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Automotive Axles Ltd

₹ 1,749 0.22%
22 Nov - close price
autoaxle.com BSE: 505010 NSE: AUTOAXLES
About

Automotive Axles was established in 1981 as a JV of Kalyani Group (35.5% ownership) and Meritor Inc, USA (35.5% ownership). [1]
The Company is engaged in the business of manufacturing and supplying Automotive Parts to the major domestic and global manufacturers of Trucks & Buses (LCV, MCV, HCV, Military & Off-highway Vehicle Segment). [2]

Key Points

Brand & Customer
Co. is the largest independent axle manufacturer and 2nd-largest brake manufacturer in India. [1]
They have a strong customer base which includes companies like Ashok Leyland, Daimler India, Mahindra & Mahindra, Tata Motors, Volvo Eicher, and many more. [2]
Ashok Leyland accounted for ~57% of co.’s revenues in FY21, up from ~52% in FY20. [3]

Website BSE NSE
  • Market Cap ₹ 2,643 Cr.
  • Current Price ₹ 1,749
  • High / Low ₹ 2,398 / 1,720
  • Stock P/E 17.2
  • Book Value ₹ 593
  • Dividend Yield 1.83 %
  • ROCE 26.7 %
  • ROE 20.2 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 29.8%
  • Debtor days have improved from 77.8 to 59.7 days.

Cons

* 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: Auto Ancillaries Industry: Auto Ancillaries

Part of BSE Allcap BSE Consumer Discretionary BSE SmallCap

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Quarterly Results

Figures in Rs. Crores

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
309 374 552 500 475 656 693 532 584 541 572 492 495
287 339 490 449 424 578 615 473 518 483 508 444 444
Operating Profit 22 35 62 52 50 78 78 59 66 58 64 49 51
OPM % 7% 9% 11% 10% 11% 12% 11% 11% 11% 11% 11% 10% 10%
1 2 0 1 1 1 1 2 4 4 5 6 6
Interest 1 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 9 9 10 10 10 10 10 9 9 9 9 8 8
Profit before tax 14 27 52 42 41 68 68 51 60 53 59 46 48
Tax % 27% 26% 25% 27% 26% 25% 25% 26% 25% 26% 25% 26% 26%
10 20 39 30 30 51 51 38 45 39 44 34 36
EPS in Rs 6.71 13.10 25.70 20.12 19.94 33.54 33.62 25.03 29.84 25.91 29.18 22.53 23.80
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Profit & Loss

Figures in Rs. Crores

Sep 2013 Sep 2014 Mar 2015 6m Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
643 677 459 1,086 1,172 1,520 1,939 952 906 1,491 2,324 2,229 2,100
589 620 424 990 1,059 1,353 1,710 859 840 1,356 2,066 1,983 1,878
Operating Profit 54 57 35 96 114 167 229 93 66 135 257 246 222
OPM % 8% 8% 8% 9% 10% 11% 12% 10% 7% 9% 11% 11% 11%
2 6 3 1 2 5 3 6 3 4 5 16 22
Interest 9 7 4 6 1 1 1 2 3 2 3 3 3
Depreciation 29 29 17 39 39 43 46 37 36 36 41 36 34
Profit before tax 19 26 16 52 75 128 185 60 30 100 218 223 206
Tax % 32% 30% 36% 33% 34% 34% 34% 31% 25% 26% 26% 25%
13 18 11 35 49 84 122 41 23 74 162 166 153
EPS in Rs 8.40 12.03 6.97 23.01 32.70 55.54 80.43 27.22 15.04 49.21 107.22 109.95 101.42
Dividend Payout % 24% 21% 14% 24% 24% 24% 24% 25% 30% 30% 30% 29%
Compounded Sales Growth
10 Years: 13%
5 Years: 3%
3 Years: 35%
TTM: -15%
Compounded Profit Growth
10 Years: 29%
5 Years: 6%
3 Years: 87%
TTM: -17%
Stock Price CAGR
10 Years: 10%
5 Years: 17%
3 Years: 11%
1 Year: -25%
Return on Equity
10 Years: 15%
5 Years: 15%
3 Years: 19%
Last Year: 20%

Balance Sheet

Figures in Rs. Crores

Sep 2013 Sep 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 15 15 15 15 15 15 15 15 15 15 15 15 15
Reserves 265 279 287 312 361 429 523 517 539 606 744 861 882
51 92 62 30 0 0 73 35 29 23 28 22 27
94 139 156 169 189 290 322 161 364 401 369 332 301
Total Liabilities 425 525 521 526 566 734 933 728 947 1,045 1,157 1,230 1,225
183 166 177 168 146 118 109 255 245 259 245 227 220
CWIP 7 23 17 9 7 17 116 24 32 3 6 6 8
Investments 0 0 0 0 0 0 0 0 12 17 0 21 47
235 336 327 349 413 600 709 449 658 766 905 976 950
Total Assets 425 525 521 526 566 734 933 728 947 1,045 1,157 1,230 1,225

Cash Flows

Figures in Rs. Crores

Sep 2013 Sep 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
54 -6 92 57 97 51 106 198 49 43 52 260
-24 -25 -18 -25 -23 -27 -157 -59 -40 -27 -84 -182
-30 30 -70 -35 -40 -15 47 -105 -10 -15 -31 -56
Net Cash Flow -0 -0 3 -3 35 9 -4 34 -1 2 -63 22

Ratios

Figures in Rs. Crores

Sep 2013 Sep 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 65 93 140 67 72 80 65 47 114 95 78 60
Inventory Days 71 89 129 52 45 47 50 88 116 68 50 58
Days Payable 52 71 149 64 75 88 70 65 168 114 69 65
Cash Conversion Cycle 84 110 119 55 42 39 45 70 62 49 60 52
Working Capital Days 79 102 132 61 56 59 53 69 78 65 74 88
ROCE % 8% 9% 6% 16% 21% 31% 35% 11% 6% 17% 31% 27%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04% 71.04%
1.43% 1.08% 1.35% 0.74% 0.71% 0.73% 0.70% 0.67% 0.63% 0.51% 0.58% 0.63%
13.50% 14.45% 13.31% 13.21% 13.88% 13.53% 12.47% 12.00% 11.96% 11.97% 11.51% 12.77%
14.03% 13.43% 14.30% 15.02% 14.37% 14.71% 15.81% 16.31% 16.38% 16.49% 16.88% 15.56%
No. of Shareholders 18,93517,80618,27319,99319,66126,82031,76937,15234,52730,10829,49630,802

* 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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