Bosch Chassis Systems India Ltd - Stock Valuation and Financial Performance

BSE: 505185 | NSE: BOSCHCHASY | Auto Ancillary | Small Cap

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Bosch Chassis Systems India stock performance -

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P/E Ratio (SA):
18.38
Market Cap:
1,239.2 Cr.
52-wk low:
593.2
52-wk high:
597

Is an attractive stock to invest in?

1. Is a good quality company?

Data is not available for this company.

2. Is undervalued or overvalued?

No data found

3. Is a good buy now?

No data found

10 Year X-Ray of Bosch Chassis:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.

Value Creation

Value Creation Index Colour Code Guide

Dec'08Dec'09Dec'10Dec'11Dec'12Dec'13Mar'15Mar'16Mar'17Mar'18TTM
ROCE % 12.1%13.2%12.7%6.7%-4.3%-6.6%7.1%12.1%14.1%11.7%-
Value Creation
Index
-0.1-0.1-0.1-0.5-1.3-1.5-0.5-0.10.0-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 5315928101,0141,2476997768581,1261,1461,146
Sales YoY Gr.-11.5%36.8%25.2%23%-43.9%10.9%10.6%31.3%1.8%-
Adj EPS 15.620.722.712.9-9.4-13.411.32,67,173.13,55,067.33,25,884.632.4
YoY Gr.-33.1%9.5%-43%-172.5%NANA2370557.3%32.9%-8.2%-
BVPS (₹) 128.3150173.7186.7194.2182.7160.222,78,076.926,57,115.429,75,576.9102.4
Adj Net
Profit
32.443.147.126.9-19.5-2823.455.673.967.867
Cash Flow from Ops. 90.921.537.17.143.569.97.970.973.3147-
Debt/CF from Ops. 0.51.914.80.60.320.20.10-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.9%-1.7%13.9%1.8%
Adj EPS 202.1%NA2969.4%-8.2%
BVPS205.5%587.2%2548.3%12%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Dec'08Dec'09Dec'10Dec'11Dec'12Dec'13Mar'15Mar'16Mar'17Mar'18TTM
Return on
Equity %
14.214.9147.2-4.9-7.17.412.514.411.60
Op. Profit
Mgn %
6.78.583.7-3-4.54.49.18.59.28.7
Net Profit
Mgn %
6.17.35.82.7-1.6-436.56.65.95.9
Debt to
Equity
0.20.10.10.10.10.10.1000-
Working Cap
Days
10410696106108193116114991050
Cash Conv.
Cycle
-3-18-316-3-48-22-11-11-150

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to %

Sales growth has been subdued in last 3 years %

Net Profit has been subdued in last 3 years %

Sales growth is not so good in last 4 quarters at %

Latest Financials - Bosch Chassis Systems India Ltd.

Standalone Consolidated
TTM EPS (₹) 32.4 31.8
TTM Sales (₹ Cr.) 1,146 1,155
BVPS (₹.) 102.4 310.4
Reserves (₹ Cr.) 192 625
P/BV 5.82 1.92
PE 18.38 18.72
From the Market
52 Week Low / High (₹) 593.20 / 597.00
All Time Low / High (₹) 17.55 / 721.25
Market Cap (₹ Cr.) 1,239
Equity (₹ Cr.) 20.8
Face Value (₹) 10
Industry PE 49

Management X-Ray of Bosch Chassis:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Bosch Chassis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSDec'08Dec'09Dec'10Dec'11Dec'12Dec'13Mar'15Mar'16Mar'17Mar'18
Sales531.17592.32810.221,014.101,247.40699.35969.41857.881,126.361,146.37
Operating Expenses 495.69542.06745.22976.911,291.90743.67927.66781.601,032.241,041.01
Manufacturing Costs50.3957.9778.02182.35110.1159.33108.0787.34108.82118.49
Material Costs352.80379.61537.98706.49964.94514.62653.20570.90666.56716.80
Employee Cost 46.7252.0866.3886.1796.9366.7788.0767.3975.0488.25
Other Costs 45.7952.3962.851.89119.92102.9578.3255.97181.82117.47
Operating Profit 35.4850.266537.19-44.50-44.3241.7576.2894.12105.36
Operating Profit Margin (%) 6.7%8.5%8.0%3.7%-3.6%-6.3%4.3%8.9%8.4%9.2%
Other Income 31.0631.9029.9335.4453.4234.6727.5421.9239.3626.03
Interest 0.640.740.560.731.841.170.250.250.482.19
Depreciation 22.4827.9832.0132.6035.7223.9734.6431.4428.5831.64
Exceptional Items 63.0400051.39-0.900000
Profit Before Tax 106.4653.4562.3539.3022.75-35.6934.4066.51104.4297.56
Tax 29.928.2313.1112.387.08-11.66-2.199.4431.2830.14
Profit After Tax 76.5445.2149.2426.9215.67-24.0336.5957.0773.1467.42
PAT Margin (%) 14.4%7.6%6.1%2.7%1.3%-3.4%3.8%6.7%6.5%5.9%
Adjusted EPS (₹)36.821.723.713.07.5-11.617.62,74,375.03,51,634.63,24,134.6
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSDec'08Dec'09Dec'10Dec'11Dec'12Dec'13Mar'15Mar'16Mar'17Mar'18

Equity and Liabilities

Shareholders Fund 266.74311.96361.20388.12403.79379.76416.35473.84552.68618.92
Share Capital 20.7920.7920.7920.7920.7920.7920.7920.8020.8020.80
Reserves 245.95291.16340.41367.33383358.97395.56453.04531.88598.12
Minority Interest0000000000
Debt41.1439.8036.2434.2123.9019.6714.8510.014.772
Long Term Debt41.1439.8036.2434.2123.9019.6714.8510.014.772
Short Term Debt0000000000
Trade Payables149.15130.90165.23224.10311.54281.75194.95211.69219.67325.77
Others Liabilities 34.3040.6939.2843.4949.63110.5354.2339.8243.9673.28
Total Liabilities 491.33523.35601.95689.92788.86791.71680.38735.36821.081,019.97

Fixed Assets

Gross Block268.98342364.21439.32262.50308.59311.40321.05152.77225.93
Accumulated Depreciation135.58157.56185.97207.78131.50146.78165.17192.7928.5158.89
Net Fixed Assets133.40184.44178.24231.54131161.81146.23128.26124.26167.04
CWIP 53.1413.4232.5619.438.1711.135.655.580.9628.60
Investments 75.5456.0159.879.61204.11214.82207.05275.76346.07402.35
Inventories64.2958100.78146.89100.7398.82103.77107.04111.96148.56
Trade Receivables70.1781.40110.01164.38157.12118.91111.74120.72138.09153.27
Cash Equivalents 59.7168.7661.5348.3416.2616.8026.8924.6741.6968.67
Others Assets35.0861.3258.9569.74171.47169.4279.0573.3358.0551.48
Total Assets 491.33523.35601.95689.92788.86791.71680.38735.36821.081,019.97

Cash Flow

(All Figures are in Crores.)
PARTICULARSDec'08Dec'09Dec'10Dec'11Dec'12Dec'13Mar'15Mar'16Mar'17Mar'18
Cash Flow From Operating Activity 90.8521.5237.057.1043.4869.879.9070.9373.33147.33
PBT 43.4253.4562.3539.30-28.64-34.7934.4066.51104.4297.56
Adjustment 21.1117.4226.6730.8632.9125.2225.8020.11-6.6211.59
Changes in Working Capital 51.01-27.32-37.78-63.0654.4480.55-44.86-6.48-9.4571.75
Tax Paid -24.13-21.30-13.630-15.23-1.1100-15.02-33.57
Cash Flow From Investing Activity -36.38-11.10-40.69-18.26-28.27-66.802.92-68.85-48.27-114.78
Capex -76.69-39.18-44.91-72.95-77.94-54.79-14.69-15.62-18.68-81.72
Net Investments 37.4623.17-0.8950.26-194.50-10.710000
Others 2.854.915.114.42244.17-1.3017.61-53.23-29.59-33.06
Cash Flow From Financing Activity -8.73-1.38-3.58-2.03-9.86-4.18-3.75-4.67-5.32-5.55
Net Proceeds from Shares 00000000.4200
Net Proceeds from Borrowing 0000000000
Interest Paid -0.09-0.0100-1.84-1.17-0.25-0.25-0.48-1.51
Dividend Paid -6.21-0.02-0.020000000
Others -2.43-1.34-3.56-2.03-8.02-3.01-3.50-4.84-4.84-4.04
Net Cash Flow 45.749.05-7.22-13.195.35-1.119.07-2.5919.7427
PARTICULARSDec'08Dec'09Dec'10Dec'11Dec'12Dec'13Mar'15Mar'16Mar'17Mar'18
Ratios
ROE (%)33.515.6314.637.193.96-6.139.1912.8214.2511.51
ROCE (%)39.6216.4316.799.775.79-8.358.2914.4419.9816.82
Asset Turnover Ratio1.41.261.591.731.860.981.461.341.451.25
PAT to CFO Conversion(x)1.190.480.750.262.77N/A0.271.2412.19
Working Capital Days
Receivable Days52433945436539454246
Inventory Days34353240334734403541
Payable Days125135100101101210133130118139

Bosch Chassis Systems India Ltd Stock News

Bosch Chassis Systems India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Bosch Chassis on 01-Jan-1970 05:30 is ₹0.00.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 01-Jan-1970 05:30 the market cap of Bosch Chassis stood at ₹1,239.2.
The latest P/E ratio of Bosch Chassis as of 01-Jan-1970 05:30 is 18.38.
The latest P/B ratio of Bosch Chassis as of 01-Jan-1970 05:30 is 5.82.
The 52-week high of Bosch Chassis is ₹597.0 and the 52-week low is ₹593.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bosch Chassis is ₹1,146 ( Cr.) .

About Bosch Chassis Systems India Ltd

Bosch Chassis Systems India (BOSCHCHAS) is a leading manufacturer of hydraulic brakes in India for passenger cars, two wheelers, three wheelers and tractors. Formerly known as Kalyani Brakes, the company was incorporated in 1982 and is a subsidiary of Bosch (95.87% stake) in India. The chairman of the company is Peter Deihey and Satish Sekhri, the managing director.

The company`s business areas include actuation, foundation and modulation of the braking system. As a manufacturer of brakes for two-wheelers, three-wheelers, passenger cars, utility vehicles, light commercial vehicles and agriculture tractors, the company uses its system engineering capabilities to suggest the right kind of brake system for the OEMs. Products include all components for automobile hydraulic brake systems such as tandem master cylinder, front caliper assembly, rotors, rear brake assembly, wheel cylinder assembly, hubs etc.

Its plants are located in Jalgaon, Chakan, Manesar and Sitarganj. The facility in Chakan, Pune supplies brakes to foreign car manufacturers like Ford, GM and Hyundai. The company has a technical agreement with Japan Brake Industrial Co, Japan for brake shoe bonding technology. The company has acquired 40% interest in Precision Seals Manufacturing.

The company is ISO-9000, ISO-9001 and the QS-9000 certified. Growth has mainly been driven by brake equipment for two/three wheeler vehicles. The company is set to secure large volume supply contracts for braking systems from the global players entering the Indian market. It has formalized arrangements for local application engineering of advanced technologies and safety systems such as ABS and ESP advanced systems for domestic and exports requirements. Local manufacturing is likely to be undertaken by 2010.

The registered office is at Panchshil, Quadra 1, Magarpatta City Road, 238, Hadapsar, Pune-411028, Maharashtra.

Milestones

  • 1982 - Kalyani Brakes Limited (KBX) was first incorporated as a Private Limited Company called Kalyani Brakes Pvt. Limited. On May 25 subsequently it was converted into a public limited company on November 24 and its name changed to Kalyani Brakes Ltd.
  • 1982 - The company manufactures all components for Automobile Hydraulic Brake Systems such as Tandem Master Cylinder, Front Caliper Assembly, Rotors, Rear Brake Assembly, Wheel Cylinder Assembly, Hubs, etc.
  • 1983 - On January 31, it entered into a technical collaboration agreement known as Allied Signal Inc. USA, for manufacture of air a with Bendix Corporation USA and Bendix Ltd, U.K. now air-over hydraulic brake systems and components.
  • 1984 - Subsequently as per the agreement between Kalyani Steels (the Indian Promoter) and Bendix Corporation, through its 100% subsidiary Bayfield Corporation (the Foreign Collaborator), the latter subscribed to 40% of the equity capital of Kalyani Brakes Ltd in March.
  • 1992 - During the year, the company developed Hydraulic Brake Systems and components thereof as well as Air Brake Systems for additional vehicle models.
  • 1993 - The company issue of 19,50,000 No. of Equity Shares of Rs. 10/- each for cash at a premium of Rs. 30/- per share on a rights basis, in the ratio of one equity share for every two equity shares held, aggregating Rs. 780 lacs in May-June.
  • 1994 - The company had a Technical Collaboration Agreement with NABCO Ltd. for Hydraulic Brake Systems.
  • 1994 - The company has obtained the prestigious ISO 9001 Certification which will provide a major fillip to company's business, especially for Exports.
  • 1995 - The company has issued 10,81,000, Zero Percent Fully Convertible Debentures (FCDs) of Rs. 92.50 each aggregating Rs. 99,992,500/- to the Promoters of the company on Preferential basis.
  • 1995 - During the period, the company has issued 34,65,500 equity shares of Rs. 10 each for cash at a premium of Rs. 65 per share aggregating Rs. 25,99,12,500/- on rights basis to the shareholders of the company.
  • 1996 - The company has changed the method of accounting of deferred sales tax from present value to full value.
  • 1997 - The company has secured supply contracts from DCM-Daewoo, Mahindra-Ford, PAL-Peugeot & Telco-INDICA. Discussions were at advanced stage with HM-Mitsubishi and Ford-Fiesta. These new businesses will provide a sustained long term growth for the company.
  • 1997 - The company has gone in for a major expansion by setting of a new modern plant at Chakan near Pune.
  • 1997 - The company implementing world's best known ERP solution Called SAP with the help of MICO and HCL-HP.
  • 1997 - The onset of world-class manufacturers in the Indian Automotive Market is certain to raise the quality and reliability labels of Indians vehicles.
  • 1997 - The company launched a major re-engineering program in its Jalgaon Plant which entails re-layout, small batch production, high throughput, low change over time and better product handling during the course of manufacture.
  • 1997 - Kalyani Brakes Ltd (KBX) enters into a buy back arrangement with one of its promoters the Japanese NABCO Ltd.
  • 1998 - The company is a joint venture of Kalyani Group of India, Robert Bosch of Germany and NABCO of Japan.
  • 1999 - The company was awarded contracts by Bajaj Tempo for Mini Door, Hindustan Motors for Ambassador Isuzu and Piaggio Greaves for its new Three Wheeler.
  • 1999 - Kalyani Brakes Ltd  entered into two technical collaborations with Italian companies Titan Italia and Brembo, the second largest brake manufacturer in the world, to introduce new generation braking systems for the tractor and motor cycles segment.
  • 1999 - The company has been awarded the brake system development for Mahindra's `IDAM' project, codenamed Scorpio.
  • 2000 - A Technical Collaboration agreement has been signed between Japan Brake Industrial Co. Ltd., Japan and the Pune-based Kalyani Brakes Ltd. for brake shoe bonding technology.
  • 2002 - Shri O H Vaish resigned from the directorship of the company.
  • 2004 - Sh. Suman Jyothi Khaitan  appointed as the Additional Director of the company.
  • 2005 - Kalyani Brakes Ltd and Brembo S.p.A, of Italy established a 50/50 joint-venture company for the application engineering, production and sales of two-wheeler brakes
  • 2007 - The company issued Bonus Shares in the Ratio of 1:1.
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