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BSE: 522195 | NSE: | Steel & Iron Products | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Frontier Springs Ltd is a average quality company.
The key valuation ratios of Frontier Springs Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Frontier Springs Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 7.8% | 3.4% | 4.9% | 9% | 11.9% | 20.7% | 27.5% | 12.7% | 11.1% | 9.9% | - |
| Value Creation Index ⓘ | -0.4 | -0.8 | -0.7 | -0.4 | -0.2 | 0.5 | 1.0 | -0.1 | -0.2 | -0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 38 | 36.1 | 40.9 | 48.8 | 59.5 | 83.3 | 99.9 | 77 | 83.7 | 107 | 120 |
| Sales YoY Gr. | - | -5.1% | 13.2% | 19.3% | 22% | 40% | 19.9% | -22.9% | 8.7% | 28.3% | - |
| Adj EPS ⓘ | 4.3 | 0.9 | 1.3 | 5.4 | 9.1 | 21.2 | 35 | 19.1 | 18.4 | 18.4 | 25.7 |
| YoY Gr. | - | -79.1% | 43.3% | 321.7% | 68% | 131.7% | 65.1% | -45.5% | -3.4% | -0.3% | - |
| BVPS (₹) ⓘ | 58.6 | 59.6 | 60.9 | 66.3 | 75.4 | 95.8 | 130.3 | 151.1 | 171.2 | 189.6 | 212.5 |
| Adj Net Profit ⓘ | 1.7 | 0.4 | 0.5 | 2.1 | 3.6 | 8.3 | 13.8 | 7.5 | 7.3 | 7.2 | 10 |
| Cash Flow from Ops. ⓘ | 0.8 | 5.1 | 1.3 | 6.3 | 6.7 | 8.8 | 10.1 | 11 | 10.2 | 9.6 | - |
| Debt/CF from Ops. ⓘ | 13.4 | 1.9 | 9.9 | 2.2 | 1.9 | 1 | 0.9 | 0.3 | 0.3 | 0.5 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 12.2% | 12.5% | 2.4% | 28.3% | ||||
| Adj EPS ⓘ | 17.5% | 15% | -19.3% | -0.3% | ||||
| BVPSⓘ | 13.9% | 20.3% | 13.3% | 10.8% | ||||
| Share Price | 56.9% | 41.4% | 73.1% | 202.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 7.6 | 1.5 | 2.1 | 8.5 | 12.9 | 24.7 | 30.9 | 13.5 | 11.4 | 10.2 | 12.8 |
| Op. Profit Mgn % ⓘ | 11.4 | 7.7 | 9.6 | 11.4 | 14.7 | 15.8 | 20.3 | 16.5 | 14.6 | 11.8 | 14.2 |
| Net Profit Mgn % ⓘ | 4.5 | 1 | 1.3 | 4.4 | 6.1 | 10 | 13.8 | 9.8 | 8.7 | 6.7 | 8.4 |
| Debt to Equity ⓘ | 0.5 | 0.4 | 0.5 | 0.5 | 0.4 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 186 | 210 | 203 | 184 | 143 | 115 | 109 | 176 | 169 | 152 | 74 |
| Cash Conv. Cycle ⓘ | 96 | 107 | 85 | 67 | 41 | 29 | 33 | 44 | 57 | 47 | 31 |
Return on Equity has increased versus last 3 years average to 12.80%
Sales growth is good in last 4 quarters at 20.13%
Sales growth has been subdued in last 3 years 2.44%
Net Profit has been subdued in last 3 years -19.34%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 25.7 | - |
| TTM Sales (₹ Cr.) | 120 | - |
| BVPS (₹.) ⓘ | 212.5 | - |
| Reserves (₹ Cr.) ⓘ | 80 | - |
| P/BV ⓘ | 5.90 | - |
| PE ⓘ | 48.90 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 386.50 / 1435.00 |
| All Time Low / High (₹) | 0.20 / 1435.00 |
| Market Cap (₹ Cr.) | 494 |
| Equity (₹ Cr.) | 3.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 26.4 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 38 | 36 | 41 | 49 | 59 | 83 | 100 | 77 | 84 | 107 |
| Operating Expenses ⓘ | 34 | 33 | 37 | 43 | 51 | 70 | 80 | 64 | 71 | 95 |
| Manufacturing Costs | 9 | 9 | 10 | 12 | 15 | 21 | 24 | 10 | 10 | 14 |
| Material Costs | 18 | 17 | 20 | 22 | 27 | 36 | 40 | 29 | 35 | 52 |
| Employee Cost | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 4 |
| Other Costs ⓘ | 5 | 5 | 6 | 7 | 7 | 11 | 12 | 22 | 23 | 25 |
| Operating Profit ⓘ | 4 | 3 | 4 | 6 | 9 | 13 | 20 | 13 | 12 | 13 |
| Operating Profit Margin (%) | 11.3% | 7.7% | 9.6% | 11.3% | 14.6% | 15.7% | 20.3% | 16.5% | 14.6% | 11.8% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Interest ⓘ | 1 | 1 | 2 | 2 | 2 | 1 | 1 | 0 | 0 | 0 |
| Depreciation ⓘ | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 3 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 2 | 1 | 1 | 2 | 5 | 10 | 18 | 11 | 10 | 10 |
| Tax ⓘ | 1 | 0 | 0 | 0 | 2 | 2 | 4 | 3 | 3 | 3 |
| Profit After Tax | 2 | 0 | 1 | 2 | 4 | 8 | 14 | 8 | 8 | 7 |
| PAT Margin (%) | 4.4% | 1.1% | 1.2% | 4.4% | 6.0% | 10.1% | 14.0% | 10.1% | 9.0% | 6.7% |
| Adjusted EPS (₹) | 4.3 | 1.0 | 1.3 | 5.4 | 9.1 | 21.3 | 35.6 | 19.8 | 19.1 | 18.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 5% | 3% | 0% | 5% | 5% |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 23 | 24 | 24 | 26 | 30 | 38 | 51 | 60 | 67 | 75 |
| Share Capital ⓘ | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves ⓘ | 19 | 20 | 20 | 22 | 26 | 34 | 47 | 56 | 63 | 71 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 11 | 10 | 13 | 14 | 12 | 9 | 9 | 4 | 3 | 5 |
| Long Term Debt | 4 | 4 | 6 | 6 | 6 | 3 | 3 | 2 | 1 | 1 |
| Short Term Debt | 7 | 5 | 7 | 8 | 7 | 6 | 6 | 2 | 2 | 3 |
| Trade Payables | 7 | 9 | 12 | 12 | 13 | 16 | 13 | 14 | 14 | 24 |
| Others Liabilities ⓘ | 3 | 3 | 4 | 3 | 4 | 5 | 5 | 6 | 7 | 6 |
| Total Liabilities ⓘ | 45 | 46 | 52 | 55 | 59 | 68 | 78 | 83 | 92 | 110 |
Fixed Assets | ||||||||||
| Gross Block | 25 | 26 | 34 | 40 | 43 | 46 | 51 | 55 | 60 | 68 |
| Accumulated Depreciation | 9 | 10 | 11 | 13 | 14 | 16 | 18 | 21 | 23 | 26 |
| Net Fixed Assetsⓘ | 16 | 16 | 23 | 27 | 29 | 30 | 33 | 34 | 36 | 42 |
| CWIP ⓘ | 4 | 6 | 1 | 1 | 0 | 0 | 1 | 0 | 1 | 1 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 2 | 3 | 5 | 8 | 13 | 15 |
| Inventories | 11 | 13 | 15 | 16 | 15 | 18 | 16 | 17 | 21 | 30 |
| Trade Receivables | 10 | 8 | 10 | 7 | 10 | 11 | 16 | 18 | 17 | 16 |
| Cash Equivalents | 1 | 1 | 2 | 2 | 1 | 1 | 3 | 3 | 2 | 2 |
| Others Assetsⓘ | 2 | 2 | 2 | 2 | 2 | 3 | 4 | 3 | 2 | 3 |
| Total Assets ⓘ | 45 | 46 | 52 | 55 | 59 | 68 | 78 | 83 | 92 | 110 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 1 | 5 | 1 | 6 | 7 | 9 | 10 | 11 | 10 | 10 |
| PBT ⓘ | 2 | 1 | 1 | 2 | 5 | 10 | 18 | 11 | 10 | 10 |
| Adjustment ⓘ | 2 | 2 | 3 | 3 | 3 | 3 | 2 | 3 | 3 | 4 |
| Changes in Working Capital ⓘ | -3 | 3 | -2 | 2 | -0 | -2 | -7 | 0 | -0 | -1 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | -1 | -2 | -3 | -3 | -3 | -2 |
| Cash Flow From Investing Activity ⓘ | -5 | -3 | -3 | -6 | -4 | -4 | -8 | -5 | -10 | -10 |
| Capex | -5 | -4 | -3 | -6 | -3 | -3 | -7 | -2 | -6 | -9 |
| Net Investments | 0 | 0 | 0 | 0 | -2 | -1 | -2 | -4 | -5 | -2 |
| Others ⓘ | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Cash Flow From Financing Activityⓘ | 4 | -2 | 1 | 0 | -3 | -5 | -1 | -6 | -1 | 1 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 1 | 0 | -3 | 0 | 1 | 0 | 0 |
| Interest Paid ⓘ | -1 | -1 | -1 | -1 | -1 | -1 | -1 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 4 | -1 | 3 | 0 | -1 | -1 | 0 | -6 | 0 | 1 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 | -1 | 0 | 1 | 0 | -1 | 0 |
| PARTICULARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 7.59 | 1.75 | 2.14 | 8.52 | 12.77 | 24.92 | 31.49 | 14.07 | 11.84 | 10.19 |
| ROCE (%) | 10.63 | 5 | 7.75 | 10.94 | 17.83 | 25.86 | 35.33 | 17.87 | 15.45 | 13.47 |
| Asset Turnover Ratio | 1.01 | 0.87 | 0.9 | 0.97 | 1.17 | 1.51 | 1.59 | 0.95 | 0.95 | 1.06 |
| PAT to CFO Conversion(x) | 0.5 | N/A | 1 | 3 | 1.75 | 1.13 | 0.71 | 1.38 | 1.25 | 1.43 | Working Capital Days |
| Receivable Days | 78 | 83 | 73 | 61 | 48 | 41 | 43 | 79 | 75 | 56 |
| Inventory Days | 92 | 111 | 114 | 108 | 84 | 63 | 55 | 79 | 83 | 87 |
| Payable Days | 136 | 171 | 195 | 197 | 172 | 148 | 132 | 168 | 149 | 135 |
Frontier Springs, is the world’s leading manufacturer of hot wound springs for transportation, industrial and government applications.
With a state-of-the-art manufacturing facility, covering more than 50,000 sq. ft., they offer a modern, streamlined operation that allows us to deliver high quality springs worldwide. Whether it’s an order for one spring or a million, Frontier is ready to meet requirements.
Frontier Springs has been meeting and satisfying the hot wound spring requirements of the transportation and heavy equipment industrial marketplace since 1980. They continuing commitment to quality, innovation and complete customer satisfaction is ‘’built into’’every product they manufacture.
Their ISO certification and investments in innovative technologies & custom design capabilities allows them to keep pace with the rigorous quality standards that are necessary in today’s ever-changing world market.For Rail Road and Transportation applications, Frontier maintains a large inventory of hot wound springs.
Product range of the company includes:
Hot coil springs supplying to Heavy Engineering. Industries, O.E. Manufacturers in India & Abroad in order to obtain better space utilization, more fatigue and weight reduction, different type of Coil Springs are manufactured at Frontier.
Frontier makes the following types of hot wound springs:
Clientele:
Awards & Achievements:
An ISO 9000:2001 certified company.
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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