Sterling Tools Ltd

Sterling Tools Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Sterling Tools Ltd

₹ 595 -3.80%
22 Nov - close price
stlfasteners.com BSE: 530759 NSE: STERTOOLS
About

Established in 1979, STL manufactures and markets high tensile cold forged fasteners, primarily for the automobile industry. STL was founded by the first generation entrepreneur, Mr. Manohar Lal Aggarwal, and has thereafter been managed by his two sons, Mr. Anil Aggarwal and Mr. Atul Aggarwal.

Key Points

Market Position
The company is India's 2nd largest automotive fastener manufacturer. Its WoS Sterling Gtake E-Mobility Ltd (SGEM) is the largest Motor Control Unit (MCU) manufacturer for the Electric Vehicle industry in India. [1] [2] In the high-speed scooter segment, SGEM commands a market share of ~50%. Overall, SGEM captures ~26% of the MCU market. [3]

Website BSE NSE
  • Market Cap ₹ 2,143 Cr.
  • Current Price ₹ 595
  • High / Low ₹ 640 / 304
  • Stock P/E 32.6
  • Book Value ₹ 133
  • Dividend Yield 0.34 %
  • ROCE 14.7 %
  • ROE 12.9 %
  • Face Value ₹ 2.00
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Pros

  • Company's working capital requirements have reduced from 96.5 days to 72.9 days

Cons

  • Stock is trading at 4.46 times its book value
  • Company has a low return on equity of 10.8% over last 3 years.
  • Company might be capitalizing the interest cost

* 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: Castings, Forgings & Fastners Industry: Fasteners

Part of BSE Allcap BSE Consumer Discretionary BSE SmallCap

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
128 122 169 174 179 208 212 221 210 232 269 282 284
108 106 152 152 154 180 189 195 185 206 238 250 252
Operating Profit 21 16 17 22 25 28 22 25 25 26 31 32 32
OPM % 16% 13% 10% 13% 14% 14% 11% 12% 12% 11% 11% 11% 11%
1 1 1 1 7 1 -2 2 2 2 1 2 2
Interest 2 2 2 2 2 2 2 2 2 2 2 2 2
Depreciation 7 7 7 8 8 8 8 8 8 8 8 8 9
Profit before tax 13 8 9 13 22 18 10 17 16 18 21 24 23
Tax % 25% 32% 25% 26% 24% 25% 22% 23% 24% 22% 24% 23% 24%
10 5 7 10 17 14 8 13 12 14 16 18 17
EPS in Rs 2.80 1.52 1.91 2.66 4.61 3.86 2.16 3.63 3.46 3.77 4.51 5.11 4.85
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
372 371 453 512 364 355 510 772 932 1,067
311 295 362 426 304 293 444 674 824 946
Operating Profit 61 76 91 86 60 62 66 98 108 121
OPM % 16% 20% 20% 17% 17% 17% 13% 13% 12% 11%
1 7 6 7 6 2 3 6 7 7
Interest 6 6 4 4 6 8 7 9 9 9
Depreciation 13 17 18 19 24 26 27 32 33 33
Profit before tax 43 60 75 70 36 30 35 63 72 86
Tax % 35% 35% 35% 35% 15% 23% 27% 24% 23%
28 39 49 45 30 24 26 48 55 66
EPS in Rs 8.20 11.43 13.62 12.52 8.47 6.53 7.09 13.29 15.37 18.24
Dividend Payout % 37% 17% 7% 16% 24% 15% 14% 15% 13%
Compounded Sales Growth
10 Years: %
5 Years: 13%
3 Years: 38%
TTM: 25%
Compounded Profit Growth
10 Years: %
5 Years: 4%
3 Years: 31%
TTM: 34%
Stock Price CAGR
10 Years: 24%
5 Years: 28%
3 Years: 47%
1 Year: 68%
Return on Equity
10 Years: %
5 Years: 10%
3 Years: 11%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 7 7 7 7 7 7 7 7 7 7
Reserves 122 153 237 273 299 324 349 393 440 473
69 40 34 99 75 105 126 133 118 136
48 67 72 78 63 79 83 122 145 148
Total Liabilities 246 267 351 458 444 516 565 656 710 764
139 165 159 192 263 257 280 275 278 283
CWIP 1 0 10 47 1 0 1 11 7 11
Investments 0 1 56 56 17 26 23 20 12 14
107 101 126 163 163 233 260 349 414 456
Total Assets 246 267 351 458 444 516 565 656 710 764

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
56 59 47 43 53 16 25 63 102
-26 -25 -75 -92 2 -49 -39 -53 -49
-21 -42 26 52 -42 23 10 -6 -33
Net Cash Flow 9 -8 -1 3 12 -11 -4 4 20

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 36 34 37 29 28 43 45 38 35
Inventory Days 105 125 118 146 158 330 189 153 133
Days Payable 69 78 79 58 56 92 52 55 56
Cash Conversion Cycle 72 81 76 117 130 281 182 137 112
Working Capital Days 43 43 51 62 83 147 125 91 73
ROCE % 31% 32% 22% 11% 9% 9% 13% 15%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
65.77% 65.77% 65.77% 65.77% 65.77% 65.77% 65.77% 65.77% 65.77% 65.77% 65.77% 65.77%
0.04% 0.00% 0.01% 0.01% 0.01% 0.06% 0.03% 0.01% 0.01% 0.01% 0.05% 0.12%
6.56% 6.56% 6.60% 5.93% 5.33% 5.43% 5.56% 5.71% 5.68% 5.49% 5.49% 4.74%
27.63% 27.67% 27.62% 28.30% 28.90% 28.73% 28.65% 28.52% 28.55% 28.74% 28.69% 29.38%
No. of Shareholders 17,75218,02116,91317,46816,08318,11119,48321,32424,34130,75029,80632,583

* 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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