Pix Transmissions Ltd - Stock Valuation and Financial Performance

BSE: 500333 | NSE: PIXTRANS | Rubber Products | Small Cap

Pix Transmission Share Price

1,339.95 4.85 0.36%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Pix Transmission

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Pix Transmissions stock performance -

mw4me loader
P/E Ratio (SA):
25.30
Market Cap:
1,819.1 Cr.
52-wk low:
733.9
52-wk high:
1,560

Is Pix Transmissions Ltd an attractive stock to invest in?

1. Is Pix Transmissions Ltd a good quality company?

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

2. Is Pix Transmissions Ltd undervalued or overvalued?

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

3. Is Pix Transmissions Ltd a good buy now?

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

10 Year X-Ray of Pix Transmission:

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.
Pix Transmissions 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 % 7.8%6.3%5.8%8.3%10.1%10.8%9.6%19.1%15.6%12.3%-
Value Creation
Index
-0.5-0.6-0.6-0.4-0.3-0.2-0.30.40.1-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 194204218235251290298354417450463
Sales YoY Gr.-5%6.9%7.9%6.8%15.7%2.6%18.9%17.8%8%-
Adj EPS 5.62.52.79.614.518.317.14442.937.352.8
YoY Gr.--54.8%5.1%259.8%51.3%26.5%-6.7%157.6%-2.5%-13.1%-
BVPS (₹) 99105.8112.6124.6137.2155.7171.1213.6253.7285.5318.5
Adj Net
Profit
7.63.53.61319.72523.36058.550.872
Cash Flow from Ops. 31.33356.527.631.645.250.557.954101-
Debt/CF from Ops. 3.73.92.24.63.32.521.22.20.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 9.8%12.4%14.8%8%
Adj EPS 23.5%20.8%29.7%-13.1%
BVPS12.5%15.8%18.6%12.5%
Share Price 44.9% 50.6% 61.3% 82%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
5.12.32.48.11112.510.522.918.413.817.5
Op. Profit
Mgn %
16.917.315.519222019.130.225.120.424.3
Net Profit
Mgn %
3.91.71.75.67.98.67.8171411.315.5
Debt to
Equity
0.90.90.80.80.60.50.40.20.30.2-
Working Cap
Days
285231199191200183185165179185102
Cash Conv.
Cycle
12613613612313513714011712613272

Recent Performance Summary

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

Net Profit is growing at healthy rate in last 3 years 29.71%

Return on Equity has declined versus last 3 years average to 17.50%

Sales growth is not so good in last 4 quarters at 6.65%

Latest Financials - Pix Transmissions Ltd.

Standalone Consolidated
TTM EPS (₹) 52.8 57
TTM Sales (₹ Cr.) 463 499
BVPS (₹.) 318.5 342.1
Reserves (₹ Cr.) 420 452
P/BV 4.19 3.90
PE 25.30 23.43
From the Market
52 Week Low / High (₹) 733.90 / 1560.00
All Time Low / High (₹) 2.50 / 1560.00
Market Cap (₹ Cr.) 1,819
Equity (₹ Cr.) 13.6
Face Value (₹) 10
Industry PE 31.6

Management X-Ray of Pix Transmission:

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 Pix Transmission

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
Sales194204218235251290298354417450
Operating Expenses 161168184190196232242248312359
Manufacturing Costs10182719192223264551
Material Costs8471738185110108132170189
Employee Cost 35374244485260656083
Other Costs 33434146444850253736
Operating Profit 3335344555585610610591
Operating Profit Margin (%) 16.9%17.3%15.5%19.0%21.9%19.9%18.8%29.9%25.1%20.3%
Other Income 43365785814
Interest 17201816141212988
Depreciation 13121212141519202023
Exceptional Items 0000000000
Profit Before Tax 76723333833828474
Tax -13381197212219
Profit After Tax 83415212927616255
PAT Margin (%) 3.9%1.7%1.7%6.4%8.6%9.8%9.0%17.3%14.9%12.3%
Adjusted EPS (₹)5.32.52.711.015.821.019.744.945.540.7
Dividend Payout Ratio (%)28%40%56%18%16%13%10%11%13%15%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 150152153170188212233291346389
Share Capital 14141414141414141414
Reserves 137139140156174199219277332375
Minority Interest0000000000
Debt1161291241271041131016610353
Long Term Debt47544750414743386144
Short Term Debt6975777863665828419
Trade Payables31161519191521282522
Others Liabilities 29313335383840445875
Total Liabilities 325328325351349378395429531539

Fixed Assets

Gross Block216253270284311337373392443478
Accumulated Depreciation7789100112125139154166185205
Net Fixed Assets139164170172186198219225258273
CWIP 70650100001
Investments 161415241298566
Inventories484733375155557810485
Trade Receivables566060707578839196105
Cash Equivalents 1815221691116132939
Others Assets43281728161715163931
Total Assets 325328325351349378395429531539

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 313357283245505854101
PBT 76723333833828474
Adjustment 28312824252528272432
Changes in Working Capital -4-421-14-16-4-2-30-3316
Tax Paid 000-5-10-13-9-21-21-21
Cash Flow From Investing Activity -58-29-25-14-13-34-27-16-72-22
Capex -43-31-24-14-23-37-30-22-70-24
Net Investments -152-100004-31
Others 0000943211
Cash Flow From Financing Activity 12-7-24-14-25-10-19-4331-69
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 248-72-86-4000
Interest Paid -15-19-16-14-13-11-11-8-7-7
Dividend Paid -2-1-2-2-3-3-4-3-7-8
Others 6620-1-1-1-3245-53
Net Cash Flow -14-37-1-724-11310
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)5.772.472.469.2512.0414.3112.0523.3319.4815.08
ROCE (%)10.029.889.0113.3715.8916.1313.7126.1622.3817.86
Asset Turnover Ratio0.590.620.670.690.720.80.770.910.90.84
PAT to CFO Conversion(x)3.881114.251.871.521.551.850.950.871.84
Working Capital Days
Receivable Days1091031001011059698857981
Inventory Days96856755656767657776
Payable Days1431187677825559675746

Pix Transmissions Ltd Stock News

Pix Transmissions Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Pix Transmission on 28-Mar-2024 16:01 is ₹1,340.
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 Pix Transmission stood at ₹1,819.1.
The latest P/E ratio of Pix Transmission as of 28-Mar-2024 16:01 is 25.30.
The latest P/B ratio of Pix Transmission as of 28-Mar-2024 16:01 is 4.19.
The 52-week high of Pix Transmission is ₹1,560 and the 52-week low is ₹733.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Pix Transmission is ₹463.0 ( Cr.) .

About Pix Transmissions Ltd

PIX Transmissions Limited established in 1982 is the fastest emerging global leader in power & fluid transmission business. It is engaged into the manufacturing of World Class Quality Industrial & Automotive Belts, Hoses, Hose Assemblies and End Fittings to suit various Power Drive needs.

PIX has got the best infrastructure in the industry which is not only taking care of its existing expanding needs but is also sufficient to accommodate its further expansion plans.

The fully-automated mixing plant commenced its operation from June 2009. Also its upcoming state-of-the-art facility of Rigid Mandrel Hose at Bazargaon will help in attaining an extra edge over its competitors in terms of added product range at competitive price.

It is also the first Indian company to establish JVs in United Kingdom, Brasil, Germany, Northern  Ireland, UAE & China, as a result it is able to serve its customers better and market its products extensively to various parts of the world.

PIX  has got the widest network of Channel Partners overseas. With distribution network in 45 countries and its products being exported to over 70 countries globally, it has got a niche over its counterparts in terms of reach and market penetration.

Subsidiaries of the company:

  • PIX Europe Limited
  • PIX South America Limited
  • PIX Germany GmbH
  • PIX Flexequip Hydraulics Ltd.
  • PIX Middle East FZC
  • PIX Hydraulics & Transmissions, Hangzhou, China

Product range of the company includes:

Mechanical Power Transmission Products

  • PIX Industrial Belts
  • Automotive Belts & Allied Products
  • PIX X'act Synchronous or Timing Belts
  • Profile Top Belts
  • Special Construction Belts
  • Application Specific Belts

Fluid Power Transmission Products

  • PIX Performer Hydraulic Hoses
  • PIX Performer/T Hydraulic Hoses
  • PIX Prokomp Compact Hydraulic Hoses
  • PIX Brute/ K Hydraulic Hoses
  • PIX Brute/ K+ Hydraulic Hoses
  • PIX Thermal Hydraulic Hoses
  • PIX X'el Extra High Pressure Hydraulic Hoses
  • PIX Optimal Hydraulic Hoses
  • Mining PRO Hydraulic Hoses
  • PIX Aquawash Hoses
  • PIX Special Application Hoses
  • PIX Pulsar Spiral Hose
  • PIX Impetus Spiral Hose
  • PIX Tex'el Industrial Hoses
  • PIX Tex'el TP Thermoplastic Hoses

End Connectors

  • PIX X'el FIT End Fittings
  • Standard Fittings
  • Interlock Fittings
  • Reusable Fittings

Accessories

Adapters

Achievements/ recognition:

  • Its decades of extensive interaction with the customers all over the world has perfected it into the art of making Belts and Hoses as a result it has distinguished itself in the Power & Fluid Transmissions Industry by having number of approvals from various Global Certifying authorities -
  • It is an ISO/TS 16949:2002, ISO 14001 & OHSAS 18001 certified company.
  • The company is the recipient of ATEX certification from Germany, certifying its belts meeting with the essential Health and Safety norms for its entire range of fire-resistant antistatic belts.
  • It has achieved prestigious approval for Hoses such as MSHA, GL, DGMS & DNV.
  • It is the only Indian company to receive the special award for 'Outstanding Export Performance' given by Export Promotion Council, Govt. of India, consistently for last several years.
  • PIX is also the recipient of the prestigious 'Niryat Shree' award for achieving outstanding performance in the export of its products.
  • In 2009 PIX Bagged AIRIA's Highest Export Award.
  • 2011 Pix Transmissions Ltd awarded the prestigious Trading House.
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