The Hi-Tech Gears Ltd

₹ 919 -0.99%

24 Jul - close price

hitechgears.com BSE: 522073 NSE: HITECHGEAR

About

The Hi-Tech Gears Ltd is an auto components manufacturer primarily engaged in the business of manufacturing gears and transmission components.^[1]

Key Points

Product Portfolio
The product portfolio of the company comprises precision gears, shafts, transmission components, and engine components catering to two-wheelers (26%), Passenger Vehicles (43%), Commercial Vehicles, and Agri and Off-Road vehicles (31%). ^[1]

Website BSE NSE - BE

Market Cap ₹ 1,726 Cr.
Current Price ₹ 919
High / Low ₹ 1,280 / 350
Stock P/E 35.0
Book Value ₹ 236
Dividend Yield 0.27 %
ROCE 14.3 %
ROE 11.7 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.

Cons

Stock is trading at 3.89 times its book value
The company has delivered a poor sales growth of 3.80% over past five years.
Company has a low return on equity of 12.2% over last 3 years.
Dividend payout has been low at 11.9% of profits 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

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	169	133	178	148	185	194	216	184	188	180	203	194	203
	140	116	148	129	156	166	186	157	164	157	178	165	176
Operating Profit	29	17	30	19	29	27	30	27	25	24	26	29	27
OPM %	17%	13%	17%	13%	15%	14%	14%	15%	13%	13%	13%	15%	13%
	1	2	1	2	2	2	3	2	2	3	1	2	4
Interest	4	4	5	5	4	4	4	4	4	5	5	5	4
Depreciation	7	7	7	8	8	8	8	8	8	8	8	8	8
Profit before tax	19	8	19	8	19	17	21	17	14	14	14	18	20
Tax %	30%	36%	27%	28%	26%	36%	31%	31%	7%	24%	27%	28%	17%
	13	5	14	6	14	11	15	12	13	10	10	13	16
EPS in Rs	7.06	2.65	7.55	3.02	7.29	5.79	7.85	6.38	6.81	5.49	5.37	6.76	8.64
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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
	373	361	432	450	448	527	647	509	522	645	782	780
	321	315	379	393	394	457	565	451	440	550	673	675
Operating Profit	52	46	53	57	55	71	82	58	82	95	109	105
OPM %	14%	13%	12%	13%	12%	13%	13%	11%	16%	15%	14%	13%
	2	5	3	2	6	13	16	6	10	7	9	9
Interest	8	6	4	2	3	9	18	22	18	18	17	18
Depreciation	23	23	25	23	25	26	27	27	25	30	32	32
Profit before tax	24	22	26	34	33	48	53	15	50	54	69	65
Tax %	31%	28%	30%	37%	36%	34%	33%	49%	25%	28%	27%	24%
	16	16	18	21	21	32	35	8	37	39	50	49
EPS in Rs	8.64	8.49	9.81	11.27	11.13	17.00	18.90	4.12	19.87	20.52	26.82	26.24
Dividend Payout %	29%	29%	25%	27%	22%	21%	19%	36%	10%	7%	9%	19%

Compounded Sales Growth
10 Years:	8%
5 Years:	4%
3 Years:	14%
TTM:	0%

Compounded Profit Growth
10 Years:	12%
5 Years:	11%
3 Years:	10%
TTM:	0%

Stock Price CAGR
10 Years:	18%
5 Years:	37%
3 Years:	40%
1 Year:	130%

Return on Equity
10 Years:	11%
5 Years:	11%
3 Years:	12%
Last Year:	12%

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
Equity Capital	19	19	19	19	19	19	19	19	19	19	19	19
Reserves	148	157	163	177	196	222	249	248	289	331	379	424
	47	42	44	42	124	182	253	190	175	209	200	120
	94	80	68	78	83	98	111	121	158	152	131	139
Total Liabilities	307	298	294	316	421	521	633	578	641	710	728	702
	190	179	173	174	171	169	175	198	205	222	211	213
CWIP	0	0	1	3	3	2	14	12	25	16	13	3
Investments	0	0	0	0	102	154	158	163	164	167	167	166
	117	119	120	139	146	196	285	205	247	305	338	319
Total Assets	307	298	294	316	421	521	633	578	641	710	728	702

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
	70	18	39	50	37	45	37	144	58	53	53	85
	-12	-8	-32	-25	-120	-88	-63	-51	-15	-43	-35	-14
	-50	-17	-7	-12	75	43	48	-108	-23	-18	-31	-78
Net Cash Flow	9	-8	-0	13	-7	1	22	-15	19	-8	-13	-7

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	29	53	54	54	59	69	61	42	58	71	71	66
Inventory Days	38	45	41	47	54	59	78	79	77	87	69	74
Days Payable	76	77	50	57	59	72	67	96	103	115	73	69
Cash Conversion Cycle	-9	20	45	44	55	56	73	25	32	44	66	72
Working Capital Days	6	27	32	38	45	50	49	-3	27	50	64	69
ROCE %	14%	13%	14%	16%	12%	15%	13%	7%	14%	14%	15%	14%

Shareholding Pattern

Numbers in percentages

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	56.00%	56.22%	56.22%	56.22%	56.22%	56.22%	56.22%	56.26%	56.26%	56.26%	56.23%	56.23%
	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.06%	0.01%
	0.01%	0.00%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	43.99%	43.76%	43.78%	43.78%	43.76%	43.77%	43.77%	43.72%	43.69%	43.73%	43.70%	43.75%
No. of Shareholders	7,785	7,583	7,463	7,554	7,736	6,643	6,309	7,176	7,414	7,284	9,567	11,872

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	55.30%	55.30%	55.30%	55.53%	56.00%	56.22%	56.22%	56.23%	56.23%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	0.01%
	0.14%	0.24%	0.13%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%	0.02%
	44.56%	44.46%	44.57%	44.47%	43.99%	43.78%	43.77%	43.70%	43.75%
No. of Shareholders	5,305	5,275	5,245	5,203	5,243	7,463	6,309	9,567	11,872

* 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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