Salzer Electronics Ltd - Stock Valuation and Financial Performance

BSE: 517059 | NSE: SALZERELEC | Electric Equipment | Small Cap

Salzer Electronics Share Price

821 -6.50 -0.79%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Salzer Electronics

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Salzer Electronics stock performance -

mw4me loader
P/E Ratio (SA):
36.37
Market Cap:
1,457.2 Cr.
52-wk low:
236
52-wk high:
888

Is Salzer Electronics Ltd an attractive stock to invest in?

1. Is Salzer Electronics Ltd a good quality company?

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

2. Is Salzer Electronics Ltd undervalued or overvalued?

The key valuation ratios of Salzer Electronics Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Salzer Electronics Ltd a good buy now?

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

10 Year X-Ray of Salzer Electronics:

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.
Salzer Electronics 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 % 9.7%10.6%10.1%7.5%7.5%9%8.9%7%6.2%8.5%-
Value Creation
Index
-0.3-0.2-0.3-0.5-0.5-0.4-0.4-0.5-0.6-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2452833613854435605676067841,0131,113
Sales YoY Gr.-15.9%27.5%6.6%15%26.4%1.3%6.8%29.4%29.3%-
Adj EPS 811.512.210.212.515.316.51313.522.323.1
YoY Gr.-42.8%6.5%-16.5%22.4%22.6%8%-21.3%3.8%65.3%-
BVPS (₹) 94103.3139.7161.7179.6179.6193.6207.3219.9241.2263.6
Adj Net
Profit
8.311.816.714.618.724.526.420.821.636.140
Cash Flow from Ops. 14.526.2-14.50.94.251.735.614-1423.1-
Debt/CF from Ops. 5.73.7-7.5139.135.12.9514.6-1812-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 17.1%18%21.4%29.3%
Adj EPS 12%12.3%10.5%65.3%
BVPS11%6.1%7.6%9.7%
Share Price 29.5% 47.5% 84.6% 238.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
8.911.5116.87.48.88.96.56.39.69.1
Op. Profit
Mgn %
12.412.512.111.612.111.511.510.38.199.2
Net Profit
Mgn %
3.44.24.63.84.24.44.73.42.83.63.6
Debt to
Equity
0.90.90.60.50.50.50.60.60.70.7-
Working Cap
Days
19018718321625823223424121620098
Cash Conv.
Cycle
11411310312315914515216315014027

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 9.10%

Sales growth is growing at healthy rate in last 3 years 21.35%

Net Profit is growing at healthy rate in last 3 years 10.53%

Debt to equity has declined versus last 3 years average to 0.71

Sales growth is good in last 4 quarters at 17.87%

No data to display

Latest Financials - Salzer Electronics Ltd.

Standalone Consolidated
TTM EPS (₹) 23.1 24.5
TTM Sales (₹ Cr.) 1,113 1,142
BVPS (₹.) 263.6 267.5
Reserves (₹ Cr.) 441 448
P/BV 3.18 3.13
PE 36.37 34.21
From the Market
52 Week Low / High (₹) 236.00 / 888.00
All Time Low / High (₹) 3.85 / 888.00
Market Cap (₹ Cr.) 1,457
Equity (₹ Cr.) 17.4
Face Value (₹) 10
Industry PE 84.1

Management X-Ray of Salzer Electronics:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.0022.99
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Salzer Electronics

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
Sales2452833613854435605676067841,013
Operating Expenses 214248318341389496502544720922
Manufacturing Costs21253234384446415774
Material Costs164190250272314408410461609780
Employee Cost 12151719202526242935
Other Costs 17182016171919172533
Operating Profit 30354344536465626491
Operating Profit Margin (%) 12.4%12.5%11.9%11.5%12.0%11.4%11.5%10.2%8.1%9.0%
Other Income 1135311221
Interest 12121315152021212026
Depreciation 8789111214161616
Exceptional Items 0000000000
Profit Before Tax 12172426313230273050
Tax 357911846814
Profit After Tax 8121717202426212236
PAT Margin (%) 3.5%4.2%4.7%4.5%4.5%4.3%4.7%3.4%2.9%3.6%
Adjusted EPS (₹)8.211.712.512.113.415.016.512.914.122.5
Dividend Payout Ratio (%)18%13%13%13%12%11%0%12%13%10%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 97106191232270287309331351390
Share Capital 10101414161616161616
Reserves 8696177218254271293315335374
Minority Interest0000000000
Debt809399115135140174200248273
Long Term Debt5181812841816128
Short Term Debt757581103128136156183235265
Trade Payables232733283654505974110
Others Liabilities 334953799685738569104
Total Liabilities 232275375454537566607674742876

Fixed Assets

Gross Block127144173148185214251270290322
Accumulated Depreciation5866719193145607592
Net Fixed Assets6878102139166183207211214231
CWIP 0689663111
Investments 661853420212122
Inventories58666793139143157177224270
Trade Receivables5878100117118146143178209276
Cash Equivalents 11913121014910813
Others Assets31336978957069756665
Total Assets 232275375454537566607674742876

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1426-1514523614-1423
PBT 12172419203229293050
Adjustment 19191926333236333441
Changes in Working Capital -13-7-55-38-41-7-24-43-69-57
Tax Paid -2-3-4-6-8-6-6-5-9-11
Cash Flow From Investing Activity -9-22-45-13-33-28-50-17-18-32
Capex -10-23-35-28-38-29-38-20-20-32
Net Investments 00-12132-1000-1
Others 112241-13311
Cash Flow From Financing Activity -40641226-19942914
Net Proceeds from Shares 0174102100000
Net Proceeds from Borrowing 2130-6-4-314-2-41
Interest Paid -12-12-13-15-15-20-21-21-20-26
Dividend Paid -1-2-2-3-3-3-300-3
Others 7062627720275342
Net Cash Flow 1450-24-52-25
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)9.0411.8111.498.217.998.618.856.456.599.8
ROCE (%)13.8315.2614.6712.2811.8412.2711.29.428.7711.9
Asset Turnover Ratio1.211.241.271.070.911.020.970.951.111.25
PAT to CFO Conversion(x)1.752.17-0.880.060.22.171.380.67-0.640.64
Working Capital Days
Receivable Days79787989948693979087
Inventory Days747259669392971019389
Payable Days52484441384046434043

Salzer Electronics Ltd Stock News

Salzer Electronics Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Salzer Electronics on 28-Mar-2024 16:01 is ₹821.0.
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 Salzer Electronics stood at ₹1,457.2.
The latest P/E ratio of Salzer Electronics as of 28-Mar-2024 16:01 is 36.37.
The latest P/B ratio of Salzer Electronics as of 28-Mar-2024 16:01 is 3.18.
The 52-week high of Salzer Electronics is ₹888.0 and the 52-week low is ₹236.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Salzer Electronics is ₹1,113 ( Cr.) .

About Salzer Electronics Ltd

Salzer Electronics was established in 1985 to design and manufacture of world-class Cam Operated Rotary Switches in Technical Collaboration with Saelzer Schaltgerate Fabrik, GmbH., Germany. The Company has a consistent track record for the last 15 years in Profit Making and declaring Dividends since 1991 - 1992.

Salzer manufactures Load Break Switches, Proximity Switches, Wiring Ducts and Terminal Connectors with CSA-NRTL/C approval. Besides Modular Wiring Accessories and Allied Specialty Products With international approval and innovative designs the market share for these products is continuously growing.

The Company has entered into technical and financial collaboration with M/s. Plitron Manufacturing Inc., Canada, in 1995 for manufacturing Toraidal Transformers With 50% Buy-Back Specialty.

The Company has a strong R&D facility with the full-fledged laboratory to upgrade the products and set new market trends. Their In-house R&D has been recognized by Ministry of Science and Technology, Department of Science and Industrial Research, Government of India. Today, they are market leaders in India for Rotary Switches.

Larsen & Turbo Limited, the Indian Industrial Giant in Engineering has been marketing Salzer Switches throughout India since 1993.

Product range of the company includes:

  • Cam operated rotary switches
  • Toroidal Transformers
  • Relays
  • Terminal Block
  • Salzer Energy Saver (SES)
  • LB Series Load Break Switches
  • Proximity Switch
  • Modular Switches.

Achievements/ recognition:

  • The Prestigious ISO 9001 Certification by NQA-UK has been obtained for Design, Development, Manufacture and Supply of CAM Operated Rotary Switches and Allied Products.
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