Federal-Mogul Goetze (India) Ltd

₹ 396 0.67%

15 Jan 4:01 p.m.

federalmogulgoetzeindia.net BSE: 505744 NSE: FMGOETZE

About

Federal-Mogul Goetze (India) Ltd manufactures, supplies, and distributes automotive components like pistons, piston rings, etc to two/three/four-wheeler automobiles in Indian and International markets.
It was established in 1954 as a joint venture with Goetze-Werke of Germany. Goetze- Werke is owned by Federal-Mogul.
Presently, It operates as a subsidiary of Tenneco Inc, post-Tenneco’s acquisition of Federal-Mogul. ^[1]

Key Points

Market Share
The company is the second largest player in the organized market of pistons and piston rings in India with ~29% market share. ^[1]

Website BSE NSE

Market Cap ₹ 2,203 Cr.
Current Price ₹ 396
High / Low ₹ 489 / 313
Stock P/E 16.4
Book Value ₹ 200
Dividend Yield 0.00 %
ROCE 18.0 %
ROE 13.1 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 10.7% over last 3 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: Auto Ancillaries Industry: Auto Ancillaries

Part of BSE SmallCap BSE Allcap BSE Consumer Discretionary

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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
	336	320	351	396	422	387	403	405	436	409	420	435	455
	301	291	310	357	377	339	358	356	380	368	357	381	397
Operating Profit	34	29	41	39	46	48	45	49	55	41	63	55	59
OPM %	10%	9%	12%	10%	11%	12%	11%	12%	13%	10%	15%	13%	13%
	7	5	5	6	10	6	10	9	13	12	9	13	17
Interest	1	1	2	1	1	1	1	1	1	1	1	1	1
Depreciation	21	20	20	19	19	20	19	19	19	19	20	20	20
Profit before tax	19	13	25	25	35	33	36	37	48	32	51	47	55
Tax %	27%	26%	23%	26%	24%	30%	19%	23%	26%	26%	26%	27%	27%
	14	10	19	19	27	23	29	29	36	23	37	34	40
EPS in Rs	2.52	1.73	3.43	3.36	4.78	4.16	5.17	5.16	6.38	4.22	6.72	6.07	7.21
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2012	Dec 2013	Mar 2015 15m	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	1,178	1,136	1,535	1,329	1,256	1,304	1,319	1,066	1,087	1,322	1,609	1,670	1,719
	1,113	1,033	1,397	1,187	1,071	1,111	1,127	962	983	1,185	1,428	1,457	1,502
Operating Profit	65	103	138	142	184	193	192	104	104	137	180	212	217
OPM %	6%	9%	9%	11%	15%	15%	15%	10%	10%	10%	11%	13%	13%
	13	21	36	34	26	24	28	23	-20	20	31	39	51
Interest	30	27	37	28	21	11	9	5	3	5	5	6	5
Depreciation	62	66	89	75	76	73	82	89	80	81	77	78	79
Profit before tax	-14	30	47	72	113	133	128	33	1	71	129	168	184
Tax %	18%	32%	34%	39%	34%	38%	36%	10%	-36%	26%	25%	26%
	-16	21	31	44	74	83	83	30	1	53	97	125	135
EPS in Rs	-2.94	3.70	5.64	7.91	13.33	14.91	14.83	5.36	0.14	9.48	17.48	22.48	24.22
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	4%
5 Years:	5%
3 Years:	15%
TTM:	5%

Compounded Profit Growth
10 Years:	19%
5 Years:	9%
3 Years:	28%
TTM:	16%

Stock Price CAGR
10 Years:	-1%
5 Years:	-9%
3 Years:	18%
1 Year:	3%

Return on Equity
10 Years:	-7%
5 Years:	-19%
3 Years:	11%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	56	56	56	56	56	56	56	56	56	56	56	56	56
Reserves	343	364	395	435	507	592	678	698	702	755	856	984	1,058
	194	207	226	201	116	68	67	1	10	9	8	8	7
	263	277	311	367	325	303	289	281	407	383	430	390	440
Total Liabilities	856	904	988	1,059	1,003	1,019	1,089	1,037	1,174	1,203	1,349	1,438	1,561
	460	474	468	521	517	514	541	521	511	487	463	486	489
CWIP	36	33	56	32	24	33	28	36	21	34	76	55	28
Investments	5	5	5	5	5	5	5	5	5	7	7	7	7
	355	392	459	501	457	467	515	475	637	675	803	891	1,037
Total Assets	856	904	988	1,059	1,003	1,019	1,089	1,037	1,174	1,203	1,349	1,438	1,561

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	79	96	108	188	134	130	116	180	127	110	200	131
	-94	-80	-88	-104	-57	-76	-101	-87	-22	-111	-52	-60
	13	-14	-15	-53	-100	-59	-8	-74	-4	-5	-5	-6
Net Cash Flow	-2	2	4	32	-23	-5	7	19	101	-7	143	65

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	47	47	41	50	54	58	63	63	86	71	60	60
Inventory Days	107	132	126	140	157	155	169	179	160	122	98	100
Days Payable	137	155	142	180	159	151	150	191	257	216	187	176
Cash Conversion Cycle	17	23	26	10	51	62	82	50	-10	-22	-29	-15
Working Capital Days	38	46	40	38	40	52	66	55	47	41	19	29
ROCE %	4%	10%	13%	15%	20%	21%	18%	5%	6%	10%	15%	18%

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
	74.98%	74.98%	74.98%	74.98%	74.98%	74.98%	74.98%	74.98%	74.98%	74.98%	74.98%	74.98%
	0.07%	0.02%	0.04%	0.21%	0.14%	0.18%	0.49%	0.63%	0.45%	0.44%	0.53%	0.76%
	1.63%	1.92%	1.87%	1.48%	1.43%	1.43%	1.43%	1.13%	1.13%	0.61%	0.00%	0.13%
	23.32%	23.07%	23.11%	23.32%	23.43%	23.39%	23.09%	23.24%	23.42%	23.94%	24.47%	24.13%
No. of Shareholders	34,815	32,162	30,203	28,203	26,430	25,800	31,157	32,038	35,212	35,142	32,331	31,065

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	74.98%	74.98%	74.98%	96.82%	94.91%	74.98%	74.98%	74.98%	74.98%
	0.30%	0.33%	0.29%	0.02%	0.01%	0.02%	0.18%	0.44%	0.76%
	13.43%	13.57%	13.49%	0.01%	0.01%	1.92%	1.43%	0.61%	0.13%
	11.29%	11.12%	11.24%	3.15%	5.07%	23.07%	23.39%	23.94%	24.13%
No. of Shareholders	17,501	17,812	16,765	14,346	18,534	32,162	25,800	35,142	31,065

* 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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