Triton Valves Ltd - Stock Valuation and Financial Performance

BSE: 505978 | NSE: | Auto Ancillary | Small Cap

Triton Valves Share Price

2,805 55.00 2.00%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Triton Valves

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Triton Valves stock performance -

mw4me loader
P/E Ratio (SA):
71.23
Market Cap:
286 Cr.
52-wk low:
1,147
52-wk high:
3,595

Is Triton Valves Ltd an attractive stock to invest in?

1. Is Triton Valves Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Triton Valves Ltd is a below average quality company.

2. Is Triton Valves Ltd undervalued or overvalued?

The key valuation ratios of Triton Valves Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Triton Valves Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Triton Valves Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Triton Valves:

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.
Triton Valves Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 8.5%11.5%10.1%10.3%8%5.7%6.5%8.2%3.7%1.6%-
Value Creation
Index
-0.4-0.2-0.3-0.3-0.4-0.6-0.5-0.4-0.7-0.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 161170165187221243214233295323322
Sales YoY Gr.-5.5%-2.4%13%18.2%9.9%-11.9%9.3%26.3%9.6%-
Adj EPS 39.973.27387.163.935.748.783.416.3-20.938.6
YoY Gr.-83.5%-0.2%19.3%-26.6%-44.1%36.2%71.4%-80.5%-228.2%-
BVPS (₹) 484.8520.8576.8664.9713.9730.9749.9841.4838.8812.3857.4
Adj Net
Profit
47.27.28.66.33.558.61.7-2.24
Cash Flow from Ops. 16.620.912.823.118.315.528.81.8-6.1-5.4-
Debt/CF from Ops. 3.52.34.42.433.51.535-11.7-15-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.1%7.9%14.8%9.6%
Adj EPS -193.1%-179.9%-175.4%-228.2%
BVPS5.9%2.6%2.7%-3.2%
Share Price 24.8% 22.5% 44.3% 97.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
8.414.613.3149.356.710.51.9-2.54.6
Op. Profit
Mgn %
12.214.213.113.510.7810.39.54.824.4
Net Profit
Mgn %
2.54.34.44.62.91.52.43.70.6-0.71.3
Debt to
Equity
1.20.910.80.80.80.60.70.81-
Working Cap
Days
13112312911912512314216116917364
Cash Conv.
Cycle
89869586777575615555-1

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 4.60%

Sales growth is growing at healthy rate in last 3 years 14.78%

Debt to equity has declined versus last 3 years average to 0.96

Sales growth is not so good in last 4 quarters at -4.58%

Latest Financials - Triton Valves Ltd.

Standalone Consolidated
TTM EPS (₹) 38.6 -5.7
TTM Sales (₹ Cr.) 322 420
BVPS (₹.) 857.4 705.6
Reserves (₹ Cr.) 88 72
P/BV 3.21 3.90
PE 71.23 0.00
From the Market
52 Week Low / High (₹) 1147.00 / 3595.00
All Time Low / High (₹) 93.67 / 3595.00
Market Cap (₹ Cr.) 286
Equity (₹ Cr.) 1
Face Value (₹) 10
Industry PE 46

Management X-Ray of Triton Valves:

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 Triton Valves

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales161170165187221243214233295323
Operating Expenses 142145144163198223192211281317
Manufacturing Costs13151516181715313938
Material Costs10610498109137165135155215249
Employee Cost 16192226293029202122
Other Costs 77913141212557
Operating Profit 1824212422192222146
Operating Profit Margin (%) 11.3%14.2%12.9%12.6%10.1%8.0%10.3%9.5%4.8%1.9%
Other Income 0002211356
Interest 8755554467
Depreciation 7881010111110109
Exceptional Items 0000000000
Profit Before Tax 410911947113-3
Tax 122221221-1
Profit After Tax 377973592-2
PAT Margin (%) 1.8%4.4%4.2%4.6%3.0%1.4%2.5%3.9%0.7%-0.7%
Adjusted EPS (₹)29.474.870.487.766.034.951.289.219.7-22.3
Dividend Payout Ratio (%)27%16%17%17%23%34%29%22%25%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 48525766717277878784
Share Capital 1111111111
Reserves 47515665707176868683
Minority Interest0000000000
Debt50425451505041596877
Long Term Debt10513141543151425
Short Term Debt40384137364638445451
Trade Payables1310610231529356746
Others Liabilities 1816121212991478
Total Liabilities 129120130138156147157195228216

Fixed Assets

Gross Block10410511774809498103106112
Accumulated Depreciation39505710203041516068
Net Fixed Assets64566064596457534644
CWIP 1133933341
Investments 0001111222
Inventories25262428332935304742
Trade Receivables35333531403735477152
Cash Equivalents 0001116721
Others Assets45710131119545874
Total Assets 129120130138156147157195228216

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 172113231816292-6-5
PBT 410911947113-3
Adjustment 14141313181616121110
Changes in Working Capital -1-1-62-4-39-21-18-11
Tax Paid -1-3-2-3-5-2-30-3-1
Cash Flow From Investing Activity -1-3-15-14-12-8-8-17-23
Capex -1-3-15-14-12-8-8-4-2-4
Net Investments 0000000-14-40
Others 0000000147
Cash Flow From Financing Activity -16-182-8-6-7-161432
Net Proceeds from Shares 0000003010
Net Proceeds from Borrowing -7-8531-6-312-111
Interest Paid -8-7-5-5-5-50-4-6-7
Dividend Paid -1-1-1-1-1-1-30-2-1
Others 0-23-5-15-13611-2
Net Cash Flow 0001005-1-50
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)6.1814.8812.8314.129.584.837.0511.212.35-2.7
ROCE (%)10.515.912.8913.5111.27.389.310.815.812.14
Asset Turnover Ratio1.351.511.471.551.541.61.411.331.41.46
PAT to CFO Conversion(x)5.6731.862.562.575.335.80.22-3N/A
Working Capital Days
Receivable Days67666758575861647369
Inventory Days56494945494755514750
Payable Days47413127444260758683

Triton Valves Ltd Stock News

Triton Valves Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Triton Valves on 28-Mar-2024 16:01 is ₹2,805.
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 28-Mar-2024 16:01 the market cap of Triton Valves stood at ₹286.0.
The latest P/E ratio of Triton Valves as of 28-Mar-2024 16:01 is 71.23.
The latest P/B ratio of Triton Valves as of 28-Mar-2024 16:01 is 3.21.
The 52-week high of Triton Valves is ₹3,595 and the 52-week low is ₹1,147.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Triton Valves is ₹321.9 ( Cr.) .

About Triton Valves Ltd

Triton Valves Ltd was incorporated in 1976 by M.V. Gokarn. Gokarn was a technocrat entrepreneur with a vision. His vision was to establish world-class manufacturing in India, not just for tyre valves but for a wide range of industrial and automotive products.

Triton was established in technical collaboration with Pingeot Bardin SA a leading manufacturer of automotive tyre valves in France. Critical manufacturing technology was transferred to Triton during the five year collaboration with Pingeot Bardin.

It is India’s largest manufacturer of automotive tyre tube valves, valve cores and accessories. For over three decades they have been developing and manufacturing high precision products to meet the diverse requirements of their customers around the world.

The manufacturing facility of the company was setup on a 14 acre plot in Mysore, 140 km from Bangalore in Southern India. Equipment was imported from Europe and a young dedicated team of engineers was formed.

Commercial production of the company commenced in 1978 with an annual capacity of 3 million valves and 4 million valve cores. Triton quickly established a reputation for its quality and customer service and emerged as a strong player in the tyre valve market in India.

The company plunged into a crisis with the untimely demise of Gokarn in 1986. However the management team rose to the challenge under the leadership of Mrs. Gokarn and soon Triton emerged as the market leader in India.

Today Triton has many significant achievements to its credit. It is the market leader in India with over 60% market share, the first in the industry to acquire the QS 9000 and the ISO/TS 16949 certifications; it has the most modern manufacturing facility in India and is also the fastest growing company in the industry.

Produc range of the company includes:

  • Valvas
  • Cores
  • Service Tools
  • Adapters & Plugs
  • Accessories

Clientele:

The company’s reputation for quality, delivery and customer service has earned them the trust of their Original Equipment customers such as Apollo Tyres, Bridgestone India, Ceat Tyres, JK tyres, MRF Tyres, Mahindra & Mahindra, Tata Motors, TVS-Srichakra Tyres and Wheels India.

Milestones:

  • 1976 - Incorporation of the company
  • 1978 - Commencement of commercial production with technical collaboration from Pingeot Bardin SA of France
  • 1992 - Triton emerges as the market leader in India
  • 1996 - Certified for ISO 9002
  • 2000 - Certified for QS 9000
  • 2004 - Certified for ISOTS:16949
  • 2007 - Large scale capaity expansion

Achievements/ recognition:

  • 1996 - Certified for ISO 9002
  • 2000 - Certified for QS 9000
  • 2004 - Certified for ISOTS: 16949
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