X

ANG Industries Ltd Stock Analysis

Small Cap
Evaluated by 275 users | BSE: 530721 | NSE: ANGIND |
Auto Ancillary
ANG Auto, the ANG group company is one of the largest manufacturers in India of forged, CNC-machined, assembly and heat treatment of automotive components for specialized. ANG Exports (erstwhile flagship company) was engaged only in the manufacture of air-brake components. The company widened...

Analysis of Financial Track Record

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.
Value Creation
 Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17
Return on Capital Employed 13.67%4.54%4.2%5.58%7.77%1.32%4.68%2.7%1.53%-63.88%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 14311510715517314215813315989.4
Y-o-Y Gr. Rt.--19.3%-7.5%45.6%11.1%-17.6%10.7%-15.6%19.8%-43.9%
Adjusted EPS (Rs.) 11.87-0.31-0.141.592.11-8.27-1.73-3.61-4.98-66.59
Y-o-Y Gr. Rt.--102.6%NANA32.7%-491.9%NANANANA
Book Value per Share (Rs.) 62.8161.9569.4773.9574.0360.0657.152.2347.22-18.4
Adjusted Net Profit 15.8-0.4-0.222.9-12.7-2.7-5.8-8-107
Net Op. Cash Flow (Rs. Cr.) -1.15.839.3-0.811.4-166.5-5.716.47.7
Debt to Cash Flow from Ops -135.8526.263.11-165.8812.78-8.623.64-25.88.5816.76
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
ANG Industries Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -5.1%-12.3%-17.2%-43.9%
Adjusted EPS -221.1%-299.5%NANA
Book Value per Share -187.3-175.7-168.6-139
Share Price - - - -
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'08Mar'09Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17
Return on Equity (%) 20.03-0.45-0.22.152.9-12.93-2.97-6.72-10.02-462.19
Operating Profit Margin (%) 21.2117.1214.8914.9118.3111.8714.514.529.54-103.84
Net Profit Margin (%) 11.02-0.34-0.171.291.66-8.9-1.71-4.37-5.03-119.92
Debt to Equity 1.791.961.41.461.451.491.731.741.85-4.37
Working Capital Days 285427437297320422394495395470
Cash Conversion Cycle 162247263171167233189227181246
Entity Percentage Holding
Promoters 27.49%
Institutions 0.08%
Non-Institutions 72.42%
Pledged *71.8669.6084.0671.8676.3676.3671.8676.3676.3676.37
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

Data is not available for this company.

Data is not available for this company

ANG Auto, the ANG group company is one of the largest manufacturers in India of forged, CNC-machined, assembly and heat treatment of automotive components for specialized. ANG Exports (erstwhile flagship company) was engaged only in the manufacture of air-brake components. The company widened the product portfolio through privately held group companies (unlisted) like ANG Auto Pvt. Ltd. and ANG Automotive Industries Pvt. Ltd. In 2005, the ANG management consolidated these group companies to

ANG Auto, the ANG group company is one of the largest manufacturers in India of forged, CNC-machined, assembly and heat treatment of automotive components for specialized. ANG Exports (erstwhile flagship company) was engaged only in the manufacture of air-brake components. The company widened the product portfolio through privately held group companies (unlisted) like ANG Auto Pvt. Ltd. and ANG Automotive Industries Pvt. Ltd. In 2005, the ANG management consolidated these group companies to create ANG Auto Limited.

ANG is the preferred name world over for its quality products such as heavy vehicle spare parts and automotive trailer parts. The company’s sustained endeavor to become a low cost manufacturer and courtesy its work principles of quality, cost and delivery (QCD), it is Tier 1 and Tier 2 approved original equipment(OE) supplier to some of the leaders of HCV segment in US, Europe and Latin America.

The company has been dealing in heavy vehicle spare parts like automatic slack adjuster, manual slack adjuster, fully dressed dummy axle, automotive trailer parts and air brakes since years and has succeeded in reaching a broader international market in these years.

The company is having five state-of-the-art production and assembly units, equipped with the best-in-class machinery, successfully display the optimal technology in use that covers nearly 250,000 sq. ft. across Noida and Faridabad, Sitarganj, Uttranchal (both adjacent to New Delhi, India’s capital). Aligning itself with the buyer’s era, it put vast resources in market research and new product engineering.

The company has collaborated with Guangdong Fuwa, the largest trailer axle manufacturer in Asia and amongst the top 5 in the world.

Product range of the company includes:

In addition to its customized products our standardized range of products include :

  • Air Brake Kits
  • Automatic Slack Adjuster
  • Brake Assembly
  • Brake Pins & Rollers
  • Brake S-Chamshafts
  • Brake Shoes
  • Fully Dressed Dummy Axle
  • Manual Slack Adjuster
  • Mechanical Suspension
  • Suspension System
  • Transmission Components
  • Welded Axle 

Clientele:

More than 90% of ANG’s revenue is derived from exports to developed economies.The company’s products are marketed primarily to major OEM manufacturers in the USA and Europe. Some of its clients include:

  • Arvin Meritor: $ 8 bn global auto component vendor to car majors in US, Italy, Sweden and Mexico.
  • Axle Alliance Corp., USA: Wholly owned subsidiary of Daimler Chrysler engaged in the business of supplying axle systems for commercial trucks in US
  • Dexter Axle, USA: Axle industry leader and premier supplier of running gear and components to the trailer industry, with eight manufacturing facilities, international distribution network and over 1700 employees
  • Mack Trucks (Arvin Meritor), USA: Founded in 1900, Mack Trucks, Inc. is one of North America's largest producers of heavy-duty trucks. MACK ?trucks are sold and serviced in more than 45 countries through a worldwide network of more than 670 sales, parts and service centers. As a Volvo Group company, Mack is committed to the core values of safety, quality and care for the environment. Mack is the primary sponsor of the American Trucking Associations’ “Share The Road” national safety education initiative. All Mack manufacturingand development locations are certified under ISO 14001, the international standard for environmental management.FUWA Engineering Manufacturing Co. Ltd., China: Largest manufacturer and supplier of special spare parts for semi-trailers in Asia.
  • Bosch Rexroth Limited, UK: Wholly owned subsidiary of Bosch Rexroth AG, possessing a unique range of technologies required for driving, controlling and moving.
  • Triangle Suspension System Inc., USA: Synonymous with steel leaf springs, a premier aftermarket supplier of steel and air springs and suspension components to the aftermarkets in medium and heavy commercial vehicles.
  • Dayton Parts LLC: Dayton Parts, LLC is the most comprehensive manufacturer and distributor of undercarriage replacement products for the heavy-duty aftermarket in the United States.
  • Ashok Leyland, India: Technology leader in India's commercial vehicle industry for over five decades. Its buses carry more people than the entire Indian rail network (the second largest in the world).

Milestones:

  • 1991- Established ANG Exports (P) Ltd for Manufacture and Export of Engineering Goods to various Customers of North America mainly catering to wholesaler distributors initially.
  • 1994- Converted ANG Exports (P) Ltd to Public Limited Company       
  • Purchased its first Facility at B-48 Noida Phase-II, Noida
  • 1995 - Commenced Operations of its Noida Facility       
  • First Public Issue - The company raised its capital from the market in April 1995 by issuing 27.50 lakhs equity shares at par.
  • 1997 - Selected as supplier to Rockwell Automotive, USA
  • 1998 - Commenced Business Relation with Dexter Axle,USA as supplier of Stub Axle        
  • Set up a plant at Faridabad in the name of ANG Automotive Industries (P) Ltd. To manufacture Differential Spiders
  • 2000 - Got Tier I Status from Mack Trucks, USA
  • 2004 - Merger of ANG Auto with ANG Exports Limited in November        
  • Selected for supply of Cylinder Blocks by M/S Hillfoot Steel, UK, for further supply to Rexroth Bosch        
  • First domestic tie-up -- Established as a source to Ashok Leyland for Manual Slack Adjusters
  • 2005 - Alliance with Guandong Fuwa (China) for single Piece dummy axles in June        
  • Started Commercial production at NSEZ (Noida Special Economic Zone) plant for manufacture of Automatic Slack Adjusters in September         
  • In November, started commercial production at Nalagarh Plant at Himachal Pradesh, for manufacture of Single Piece Dummy Axle for Trailers         
  • Took over the Manufacturing activity of ANG Automotive Industires w.e.f December
  • 2006 - The Name of Our Company ANG Exports Ltd was changed to ANG AUTO LIMITED in February         
  • Technical collaboration with Shanghai Fulangie Import & Export Co. Ltd. Shanghai, China in March 2006         
  • Indian Patent Office accepted the application of Patent of Automatic Slack Adjuster of the Company          
  • Conversion of Warrants into Equity Shares ans allotment made on March 30, 2006         
  • ANG Auto Entered into an MOU with M/S Fuwa Engineering Co. Ltd. China to set up a Joint Venture Company in India for the manufacture of Trailers, Trailer Axles and other Components.          
  • In May 06, the company's subsidiary ANG Auto Tech embarked on a project to commission India's largest Trailer Manufacturing Facility with an installed capacity of 6,000 Trailers per annum.           
  • In July 06, the Company entered into a five year strategic agreement with commercial vehicle Major Ashok LeylandLtd.for the supply of co-branded Trailers on an exclusive basis to its 'Fully Built Vehicle' division in the Project worth 450 Million Dollars.
  • 2007 - The first phase of the Trailer Project (3600 Trailers per annum) went into commercial production on April 02, 2007.       
  • The Company captured more than 17% market share in the axle segment within just 15 months of Launch in India.       
  • The company received a patent from the US PTO for its Automatic Slack Adjuster, presenting the company with greater access to various OEM customers in the US and European Markets.       
  • In accordance with the approval of the Board, our 75% subsidiary company ANG Auto Tech was merged with ANG with effect from March 31,07. This was subject to the approval of the High Court of New Delhi.       
  • Installation of an Axle Beam production line with an Annual Capacity of 48,000 axles per annum, for the export as well as domestic market.        
  • Expansion of Manufacturing Capacity for Automatic Slack Adjuster.       
  • Increase in the machining capacity of Plants and technological upgradation of certain lines of equipment.        
  • Potential Overseas acquisitions in Europe and the US.

Awards/ Achievements

  • The company’s strict commitment to quality has been recognized with the highest international quality standards of ISO 9001, QS 9000 and TS 16949.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback