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BSE: 505010 | NSE: AUTOAXLES | Auto Ancillary | Small Cap
1. Is Automotive Axles Ltd a good quality company?
Past 10 year's financial track record analysis by Moneyworks4me indicates that Automotive Axles Ltd is a average quality company.
2. Is Automotive Axles Ltd undervalued or overvalued?
The key valuation ratios of Automotive Axles Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
3. Is Automotive Axles Ltd a good buy now?
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Automotive Axles Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
Value Creation ⓘValue Creation Index Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep'13 | Sep'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | |||
| ROCE % ⓘ | 5.8% | 6.5% | 3.6% | 11.1% | 13.7% | 20.1% | 22.5% | 7.4% | 4.8% | 12.6% | - | ||
| Value Creation Index ⓘ | -0.6 | -0.5 | -0.7 | -0.2 | -0.0 | 0.4 | 0.6 | -0.5 | -0.7 | -0.1 | - | ||
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ |
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| Sales ⓘ | 643 | 677 | 918 | 1,086 | 1,172 | 1,519 | 1,939 | 952 | 906 | 1,491 | 2,183 | ||
| YoY Gr. Rt. % | - | 5.4% | 35.7% | 18.3% | 8% | 29.6% | 27.6% | -50.9% | -4.9% | 64.6% | - | ||
| Adj EPS ⓘ | 8.6 | 12.1 | 14 | 23.8 | 32.6 | 54.3 | 78.5 | 27.8 | 16.7 | 49.2 | 99.3 | ||
| YoY Gr. Rt. % | - | 40.4% | 16% | 70.1% | 37.2% | 66.5% | 44.4% | -64.6% | -40.1% | 195.5% | - | ||
| BVPS (₹) ⓘ | 185.6 | 194.7 | 400.3 | 216.5 | 249.2 | 294 | 356.3 | 352 | 366.6 | 411 | 469.3 | ||
| Adj Net Profit ⓘ | 13 | 18.2 | 21.1 | 36 | 49.3 | 82.1 | 119 | 42 | 25.2 | 74.3 | 150 | ||
| Cash Flow from Ops. ⓘ | 53.9 | -5.8 | 183 | 56.9 | 97.1 | 51.2 | 106 | 198 | 48.7 | 43.3 | - | ||
| Debt/CF from Ops. ⓘ | 1 | -15.9 | 0.7 | 0.5 | 0 | 0 | 0.7 | 0.1 | 0.4 | 0.3 | - | ||
CAGR ⓘCAGR Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Sales ⓘ | 9.8% | 4.9% | -8.4% | 64.6% | ||||||||
| Adj EPS ⓘ | 21.4% | 8.6% | -14.4% | 195.5% | ||||||||
| BVPS ⓘ | 9.2 | 10.5 | 4.9 | 12.1 | ||||||||
| Share Price | 23% | 10.2% | 86.8% | 40% | ||||||||
Key Financial Parameters ⓘPerformance Ratio Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep'13 | Sep'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | TTM | ||
| Return on Equity % ⓘ | 4.7 | 6.3 | 3.5 | 11.4 | 14 | 20 | 24.1 | 7.9 | 4.6 | 12.7 | 22.6 | |
| Op. Profit Mgn % ⓘ | 8.5 | 8.4 | 7.7 | 8.9 | 9.7 | 10.9 | 11.7 | 9.8 | 7.3 | 9 | 11.1 | |
| Net Profit Mgn % ⓘ | 2 | 2.7 | 2.3 | 3.3 | 4.2 | 5.4 | 6.1 | 4.4 | 2.8 | 5 | 6.9 | |
| Debt to Equity ⓘ | 0.2 | 0.3 | 0.2 | 0.1 | 0 | 0 | 0.1 | 0 | 0 | 0 | - | |
| Working Cap Days ⓘ | 166 | 160 | 262 | 110 | 106 | 109 | 113 | 195 | 190 | 154 | 0 | |
| Cash Conv. Cycle ⓘ | 66 | 77 | 120 | 47 | 40 | 38 | 41 | 78 | 69 | 47 | 0 | |
Return on Equity has increased versus last 3 years average to 22.60%
Sales growth is good in last 4 quarters at 63.69%
Sales growth has been subdued in last 3 years -8.39%
Net Profit has been subdued in last 3 years -14.41%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 99.3 | - |
| TTM Sales (₹ Cr.) | 2,183 | - |
| BVPS (₹.) ⓘ | 469.3 | - |
| Reserves (₹ Cr.) ⓘ | 694 | - |
| P/BV ⓘ | 5.05 | - |
| PE ⓘ | 23.85 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 1380.90 / 2685.00 |
| All Time Low / High (₹) | 14.00 / 2685.00 |
| Market Cap (₹ Cr.) | 3,579 |
| Equity (₹ Cr.) | 15.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 31.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Automotive Axles Limited (AAL) a joint venture of Kalyani Group and Arvin Meritor Inc., USA (formerly the automotive division of Rockwell International Corporation) was established in 1981, AAL has developed an impressive domestic OEM clientele that includes Ashok Leyland, Telco, Vehicle Factory, Jabalpur,Mahindra & Mahindra, Volvo and Bharat Earth Movers.
The infrastructure at AAL spans highly specialized manufacturing processes involving Friction Welding, CO2 Welding, CNC Machining, Flexible Machine Centres and a range of specially built machines for production of Axles and Brakes. The facilities also comprises Gleason Gear Manufacturing Equipment backed by a modern Heat Treatment Shop including Continuous Carburising and Sealed Quench Furnaces. Wide range of Rear Drive Axles catering to commercial vehicles ranging from 6 Tons to 35 Tons GCW, S-Cam Actuated Quick Change Air Brakes for commercial vehicles, and Trailer Axles for 10 Tons to 13 Tons GVW.
The company’s manufacturing facilities are located at Mysore, the company is currently the largest independent manufacturer of Rear Drive Axle Assemblies in the country. Over the years, AAL has developed an impressive domestic OEM clientele that includes Ashok Leyland, Telco, Vehicle Factory, Jabalpur,Mahindra & Mahindra, Volvo and Bharat Earth Movers. AAL exports axle parts to USA, and Italy.
The company brought in Rockwell’s state-of-the-art manufactureing technology to India way ahead of its time expecting it would be able to penetrate a market segment in which CV manufacturers were making their own axles. Due to unforeseen delays caused due to various factors, it took it several years to achieve this objective. The company had therefore to be content with the business of contract manufacturing in which it could barely recover variable costs resulting in the accumulation of significant losses with interest and depreciation burden contributing to the erosion of over 50% of the company's net worth which led to its reference to BIFR in 1989.
Product range of the company includes:
Milestones:
Awards/ Achievements:
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