Samvardhana Motherson International Ltd - Stock Valuation and Financial Performance

BSE: 517334 | NSE: MOTHERSON | Auto Ancillary | Large Cap

SamvardhanaMotherson Share Price

196.75 -1.70 -0.86%
as on 12-Jul'24 16:01

DeciZen - make an informed investing decision on SamvardhanaMotherson

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Samvardhana Motherson International stock performance -

mw4me loader
P/E Ratio (CD):
49.09
Market Cap:
1,33,326.1 Cr.
52-wk low:
86.8
52-wk high:
208.9

Is Samvardhana Motherson International Ltd an attractive stock to invest in?

1. Is Samvardhana Motherson International Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Samvardhana Motherson International Ltd is a average quality company.

2. Is Samvardhana Motherson International Ltd undervalued or overvalued?

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

3. Is Samvardhana Motherson International Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Samvardhana Motherson International 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 SamvardhanaMotherson:

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.
Samvardhana Motherson International Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 13.6%13.4%14.4%11.1%9%7.6%4.5%4.3%2.7%5.7%-
Value Creation
Index
0.20.20.30.0-0.2-0.3-0.6-0.6-0.8-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 30,42834,67337,21642,37656,29363,52360,72957,37063,77478,70197,779
Sales YoY Gr.-14%7.3%13.9%32.8%12.8%-4.4%-5.5%11.2%23.4%-
Adj EPS 22.22.93.33.63.31.61.70.72.24
YoY Gr.-10%32.3%13.1%9.1%-7.5%-50.9%4.3%-60%223.5%-
BVPS (₹) 6.67.49.917.520.923.123.826.530.433.138.6
Adj Net
Profit
8949841,2981,5581,7011,5727728044641,4942,717
Cash Flow from Ops. 2,6953,3902,1883,8003,2644,3126,3525,0512,4634,643-
Debt/CF from Ops. 1.81.52.82.73.22.71.92.15.22.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.1%6.9%9%23.4%
Adj EPS 1.1%-9.3%10.5%223.5%
BVPS19.6%9.7%11.7%9.1%
Share Price 11% 20% 6.5% 104.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
34.131.333.624.618.715.176.82.86.911.2
Op. Profit
Mgn %
8.58.29.69.89.18.47.77.77.47.99.2
Net Profit
Mgn %
44.14.85.14.23.21.52.31.22.12.8
Debt to
Equity
1.61.61.41.31.11.11.10.90.60.50.4
Working Cap
Days
838385929210011011211010670
Cash Conv.
Cycle
2217111-3-4-5-7-14-3

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 11.20%

Net Profit is growing at healthy rate in last 3 years 10.51%

Debt to equity has declined versus last 3 years average to 0.54

Sales growth is good in last 4 quarters at 25.91%

Sales growth has been subdued in last 3 years 9.03%

Latest Financials - Samvardhana Motherson International Ltd.

Standalone Consolidated
TTM EPS (₹) 1.4 4
TTM Sales (₹ Cr.) 8,788 97,779
BVPS (₹.) 47.1 38.6
Reserves (₹ Cr.) 31,251 25,477
P/BV 4.18 5.10
PE 141.25 49.09
From the Market
52 Week Low / High (₹) 86.80 / 208.90
All Time Low / High (₹) 0.06 / 208.90
Market Cap (₹ Cr.) 1,33,326
Equity (₹ Cr.) 677.6
Face Value (₹) 1
Industry PE 56.4

Management X-Ray of SamvardhanaMotherson:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *4.3811.171.121.121.121.181.912.321.862.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of SamvardhanaMotherson

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
Sales30,42834,67337,21642,37656,29363,52360,72957,37063,77478,701
Operating Expenses 28,03131,82933,66838,20951,17158,17556,07553,01159,07572,493
Manufacturing Costs1,6501,7821,9282,0842,8113,4802,7662,5723,3555,047
Material Costs19,36221,63422,41125,75334,30336,73834,96932,59836,73645,317
Employee Cost 5,1066,3657,1578,09111,06814,16914,37314,10015,37517,931
Other Costs 1,9132,0482,1722,2812,9893,7873,9673,7423,6084,197
Operating Profit 2,3972,8443,5484,1675,1235,3484,6544,3594,6996,208
Operating Profit Margin (%) 7.9%8.2%9.5%9.8%9.1%8.4%7.7%7.6%7.4%7.9%
Other Income 31137639264170220225229258257
Interest 294318345375411423593512543781
Depreciation 8179211,0871,0591,5752,0582,7212,9262,9583,136
Exceptional Items 0-1650-97-17800-62-48-100
Profit Before Tax 1,5961,8172,2933,0833,2673,2001,6221,1731,4242,405
Tax 4995265199101,0071,102688-69607735
Profit After Tax 1,0971,2921,7742,1722,2602,0989341,2438171,670
PAT Margin (%) 3.6%3.7%4.8%5.1%4.0%3.3%1.5%2.2%1.3%2.1%
Adjusted EPS (₹)1.71.92.93.33.43.42.52.21.32.2
Dividend Payout Ratio (%)29%31%26%18%30%29%40%46%34%29%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 2,9593,3244,3978,2739,88410,96311,26112,56120,58822,452
Share Capital 8888132140211316316316452678
Reserves 2,8713,2364,2658,1329,67410,64710,94512,24520,13721,774
Minority Interest790101415122232296034803565402317761925
Debt3,9954,9105,74210,1429,47710,94311,6698,82611,7068,831
Long Term Debt2,9834,0864,7869,4447,5708,1008,2617,4698,5016,618
Short Term Debt1,0118259566981,9072,8433,4081,3583,2052,213
Trade Payables4,0924,8645,1637,3009,02610,66110,30911,14111,36014,136
Others Liabilities 3,4093,2673,4023,9205,5246,6718,18910,5129,69113,143
Total Liabilities 15,24417,38020,21631,86736,87142,71844,99347,06355,12260,487

Fixed Assets

Gross Block12,63412,6448,33915,46419,69525,26530,52332,32536,24541,525
Accumulated Depreciation6,7156,5151,1923,3615,1146,9739,89312,35415,35818,878
Net Fixed Assets5,9196,1297,14712,10314,58118,29220,63019,97120,88722,648
CWIP 6479561,3971,9352,5851,0678528771,3101,478
Investments 75655324747928557968476,4626,290
Inventories3,2823,7502,2853,0724,0134,6635,1574,9966,4427,823
Trade Receivables3,2383,0144,6544,6555,6246,1665,1785,6936,5738,514
Cash Equivalents 9061,8921,7724,8872,7823,5474,8795,9064,9994,699
Others Assets1,1761,5742,4304,7426,4958,1277,5018,7738,4499,037
Total Assets 15,24417,38020,21631,86736,87142,71844,99347,06355,12260,487

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 2,6953,3902,1883,8003,2644,3126,3525,0512,4634,643
PBT 1,5961,8172,2933,0833,1293,0872,0551,5281,9092,405
Adjustment 1,4189241,4858962,3892,3713,7543,4403,4653,776
Changes in Working Capital 2401265-899664-1249-961620643-2079-685
Tax Paid -560-617-690-843-1,005-1,050-1,078-560-832-853
Cash Flow From Investing Activity -1,372-2,853-1,906-6,726-3,194-3,311-2,240-1,894-2,312-2,245
Capex -1,352-1,839-1,931-2,779-3,031-2,685-2,194-1,933-2,436-2,183
Net Investments -10-1273-165-12-5-12-67
Others -20-1,01436-4,0202-624-48441375
Cash Flow From Financing Activity -1,080495-2635,518-2,221-225-2,803-2,098-1,217-2,734
Net Proceeds from Shares 0002,528000000
Net Proceeds from Borrowing -1612,5305703,929-2,028-564-5451,137-84479
Interest Paid -288-299-323-347-394-416-567-414-553-808
Dividend Paid -174-316-639-83-552-555-1,142-161-646-331
Others -457-1,420128-5097521,310-548-2,659825-1,674
Net Cash Flow 2431,031192,591-2,1527771,3091,060-1,067-336
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)41.9541.244634.2924.8920.138.4110.434.937.76
ROCE (%)25.2526.327.923.7718.9216.959.737.286.959.37
Asset Turnover Ratio2.222.162.011.661.641.61.381.251.251.36
PAT to CFO Conversion(x)2.462.621.231.751.442.066.84.063.012.78
Working Capital Days
Receivable Days36323739333434353535
Inventory Days35362923232530323333
Payable Days697682888798109120112103

Samvardhana Motherson International Ltd Stock News

Samvardhana Motherson International Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of SamvardhanaMotherson on 12-Jul-2024 16:01 is ₹196.8.
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 12-Jul-2024 16:01 the market cap of SamvardhanaMotherson stood at ₹1,33,326.1.
The latest P/E ratio of SamvardhanaMotherson as of 12-Jul-2024 16:01 is 141.2.
The latest P/B ratio of SamvardhanaMotherson as of 12-Jul-2024 16:01 is 4.18.
The 52-week high of SamvardhanaMotherson is ₹208.9 and the 52-week low is ₹86.80.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SamvardhanaMotherson is ₹8,788 ( Cr.) .

About Samvardhana Motherson International Ltd

Motherson Sumi Systems Limited was incorporated in 1986 and listed in 1993, is listed at the Bombay Stock Exchange and National Stock Exchange of India, in India.The company’s business in India consists of designing, manufacturing and supplying wiring harness systems to domestic customers in India across segments viz. passenger cars, commercial vehicles, motorcycles/two-wheeler segments etc. The Company also exports harnesses to OEMs in Japan, Europe as well as Tier 1 OEM Suppliers (including Company’s subsidiaries for mirrors business). Also, included in the portfolio is designing, development, manufacturing and supplying of interior and exterior modules as well as plastic components to OEMs in India. Rubber and metal parts are also manufactured and supplied to customers in India and exported to Europe.

Business area of the company

Motherson Sumi Systems, including its subsidiaries and JVs is one of the leading manufacturer of automotive wiring harnesses, mirrors for passenger cars and a leading supplier of plastic components and modules to the automotive industry.

Products and services offered by the company

Wiring Harness- The wiring harness division of Motherson is a full service system supplier with complete in-house design, development and manufacturing capability. It is one of the most vertically integrated business divisions with a product range that promotes technological advancement across both the automotive and non-automotive sectors that it supplies to.

Vision Systems- Motherson is one of the leading global suppliers of vision systems to the automotive industry and the product range includes interior mirrors, exterior mirrors and camera-based detection which it supplies to almost all major OEMs. Vision Systems is aided by strong vertical integration and provides full-service solutions to its customers.

Modules and Polymer Products- The division encompasses the largest business line in Motherson. It develops and produces a highly diversified product range from simple plastic parts to highly integrated systems and modules, supplying to OEMs globally. The group also exhibits capabilities in mould design, tooling and elastomer processing.

Metal Products- The division offers an array of products like cutting and gear cutting tools, cabins for off-highway vehicles, HVAC systems, shock absorbers, metal components and assemblies with varied technologies, sheet metal parts, clutches for car AC compressors as well as coating services to a wide spectrum of industries.

Technology & Software- The division focuses on technology and innovations and sustains the digital foundation of the group’s global operations. It also caters to external clients from different industries globally. This division thinks beyond the current capabilities and has a futuristic approach in understanding industry trends and providing solutions.

Retail and services- The division consists of a wide spectrum of businesses that do business through direct channels like B2B supply, utilising distributor networks and engaging in direct sales and services to the end customers. Most products and services of this division directly support the manufacturing operations of customers.

Aerospace- Motherson offers global solutions to the aerospace industry segment, by providing integrated solutions. This division is an initiative of the group to establish its presence in sectors beyond automotive.

Logistics- The Logistics division of Motherson aims to bring in efficiency, technology and specialisation in the automotive supply chain. It deals with the logistics of finished vehicles in both the groups’ internal supply chain as well as for external customers.

Health and medical- The division is driven by its purpose of positively impacting lives globally by helping people become healthy, and stay healthy. The division works towards realising this by providing products, solutions and services that help people manage and improve their health, and enable people to access affordable care of the highest quality.

Awards

Daimler

  • Supplier Award (Wiring Harness)
  • Masters of Quality Supplier Award (Wiring Harness)
  • Best Quality Supplier Zero PPM (Wiring Harness)

Jaguar Land Rover

  • Quality Excellence (Vision Systems)

Renault Nissan

  • Quality & Customer Satisfaction (Wiring Harness)

Toyota

  • Zero Defect Supplies Zero PPM (Wiring Harness)
  • Achieving Targets Delivery
  • Achieving Target Quality
  • Zero Defect Supplies Zero PPM
  • Achieving Targets Quality (Vision Systems)
  • Achieving Targets Delivery (Vision Systems)
  • Quality Performance Award (Vision Systems)
  • Achieving Targets Quality (Modules & Polymer)
  • Achieving Targets Delivery (Modules & Polymer)

Honda

  • Kaizen Award Productivity Category (Wiring Harness)
  • Customer Satisfaction and Quality (Wiring Harness)
  • Certificate of Appreciation (Vision Systems)
  • Certificate of Excellence Quality, Cost & Delivery (Vision Systems)

Hyundai

  • Quality 5 Star (Vision Systems)
  • New Product Development (Vision Systems)

Volvo

  • VQE Quality Excellence (Vision Systems)

JAC Group

  • Best Quality Contribution Award (Wiring Harness)

Tata Motors

  • Quality Improvement for Proto Supplies (Wiring Harness)
  • Energy Champion Award (Wiring Harness)

MCI

  • Silver Perfoming Award (Wiring Harness)
  • SPM Leaders Award (Wiring Harness)

Foton Group

  • Quality Gold Award (Wiring Harness)
  • Excellence Partner Award (Wiring Harness)
  • Best Quality Award (Wiring Harness)

JMC Group

  • Excellence Development Partner Award (Wiring Harness)

Ashok Leyland

  • Best Supplier Award (Wiring Harness)
  • Best Poka Yoke (Wiring Harness)

Volvo Eicher

  • Best Supplier New Product Development (Wiring Harness)
  • Achieving Excellence Partner-Level Recognition (Wiring Harness)

Milestones

1975-1982

  • Motherson founded in Delhi, India.
  • First cable factory launches a new direction for the family firm.

1983-1986

  • First automotive component (wiring harness) produced in India Maruti Suzuki.
  • Motherson Sumi Systems Ltd. established in joint venture with Sumitomo Wiring Systems..

1987-1998

  • First wiring harnesses for commercial vehicles Tata.
  • The flagship company of the Group, Motherson Sumi Systems Ltd. (MSSL) listed on Indian stock exchanges.
  • First partnership with a luxury automotive brand Mercedes.
  • First parts for models exported from India Hyundai.
  • First collaboration with a US automaker Ford.

1999-2007

  • First overseas office in Graz, Austria.
  • 5-year plan announced publicly for the first time.
  • First partnership in the off-road segment Caterpillar.
  • First acquisition by Motherson Group I Wexford Electronics.
  • First overseas plant in Sharjah, UAE.
  • First Motherson operation in Europe Ford.
  • European headquarters opened in Germany.

2008-2020

  • Acquisition of Visiocorp (rearview mirror business), SMR established.
  • Peguform acquisition, SMP established.
  • Acquisition of wiring harness division of Stoneridge Inc, entering CV segment in USA.
  • PKC acquisition, leadership position in Amercian, European and Chinese CV market.
  • Reydel acquisition, closer relations with French OEMs.
  • Acquisition of Bombardier’s UK rolling stock electrical component business.
  • Motherson Sumi Systems has incorporated a wholly owned subsidiary namely, Motherson Sumi Wiring India (MSWIL) on July 2, 2020 for manufacturing of wiring harness.
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