Automotive Axles Ltd Stock Analysis

BSE: 505010 | NSE: AUTOAXLES | Auto Ancillary | Small Cap

BSE Share Price 06-Feb-2023 10:55
2598.95 4.00 (0.15%)

DeciZen - Make an Informed Decision on Auto.Axle

Overall Rating

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Auto.Axle Price Chart

P/E Ratio ( SA) :
26.13
Market Cap :
3,921.5 Cr.
52-wk low :
1,380.9
52-wk high :
2,659
Bole Toh?

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 Somewhat overvalued zone.

3. Is Automotive Axles Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Automotive Axles 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 Auto.Axle:

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.
Automotive Axles 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

Sep'13Sep'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 5.8%6.5%3.6%11.1%13.7%20.1%22.5%7.4%4.8%12.6%-
Value Creation Index -0.6-0.5-0.7-0.2-0.00.40.6-0.5-0.7-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6436779181,0861,1721,5191,9399529061,4912,183
YoY Gr. Rt. %-5.4%35.7%18.3%8%29.6%27.6%-50.9%-4.9%64.6%-
Adj EPS 8.612.11423.832.654.378.527.816.749.299.3
YoY Gr. Rt. %-40.4%16%70.1%37.2%66.5%44.4%-64.6%-40.1%195.5%-
BVPS (₹) 185.6194.7400.3216.5249.2294356.3352366.6411469.3
Adj Net Profit 1318.221.13649.382.11194225.274.3150
Cash Flow from Ops. 53.9-5.818356.997.151.210619848.743.3-
Debt/CF from Ops. 1-15.90.70.5000.70.10.40.3-

CAGR

CAGR Colour Code Guide

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 9.210.54.912.1
Share Price 22.3% 11% 45.2% 69.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Sep'13Sep'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 4.76.33.511.4142024.17.94.612.722.6
Op. Profit Mgn % 8.58.47.78.99.710.911.79.87.3911.1
Net Profit Mgn % 22.72.33.34.25.46.14.42.856.9
Debt to Equity 0.20.30.20.1000.1000-
Working Cap Days 1661602621101061091131951901540
Cash Conv. Cycle 6677120474038417869470

Recent Performance Summary

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%

Latest Financials - Automotive Axles Ltd.

Standalone Consolidated
TTM EPS (₹) 99.3 -
TTM Sales (₹ Cr.) 2,183 -
BVPS (₹.) 469.3 -
Reserves (₹ Cr.) 694 -
P/BV 5.53 -
PE 26.13 -
From the Market
52 Week Low / High (₹) 1380.90 / 2659.00
All Time Low / High (₹) 14.00 / 2659.00
Market Cap (₹ Cr.) 3,921
Equity (₹ Cr.) 15.1
Face Value (₹) 10
Industry PE 34.8

Management X-Ray of Auto.Axle :

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 Auto.Axle

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Automotive Axles Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Auto.Axle on 06-Feb-2023 10:55 is : 2,599.
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 06-Feb-2023 10:55 the market cap of Auto.Axle stood at ₹ 3,921.5.
The latest PE ratio of Auto.Axle as of 06-Feb-2023 10:55 is 26.13.
The latest PB ratio of Auto.Axle as of 06-Feb-2023 10:55 is 5.53
The 52-week high of Auto.Axle is ₹ 2,659 and the 52-week low is ₹ 1,380.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Auto.Axle is ₹ 2,183 ( Cr.) .

About Automotive Axles Ltd

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:

  • Single drive Axle- AAL offers a broad selection of single rear drive axles ranging from 6000 kg to 14000 kg GAWR for Truck, Bus, Tractor & construction vocations.
  • Tandem Drive Axle- Vehicles used in the mining & Tractor applications are often required to carry extremely heavy loads, AAL offers the following variety of single-reduction tandem drive axles with GAWR capacities from 19000 kg to 28000 kg) for such vehicles.
  • Non Drive Axle- This axle does not have drive but used along with drive axles inorder to increase the vehicle load bearing capacity.

Milestones:

  • 1981 - Foundation Stone laid
  • 1981 - Incorporation and commencement of business
  • 1982 - First Annual General meeting of Members
  • 1983 - First Public Issue of equity shares
  • 1984 - Commercial production of Rear Axle Housing
  • 1986 - Commercial production of Brake Assembly
  • 1988 - Commercial production of Axle Assembly for LCV manufacturers
  • 1991 - Entered Export market by exporting prototypes to MB-Germany
  • 1995 - Rights issue in the ratio of 1:4
  • 1996 - Sales cross Rs. 1 billion
  • 1998 - Quality Management System certified to ISO 9001
  • 2000 - Quality System certified to QS 9000
  • 2003 - Sales cross Rs. 2 Billion
  • 2005 - Quality System certified to TS16949
  • 2005 - Sales cross Rs. 3.5 Billion
  • 2005 - Foundation Stone laid for 'Kalyani Nagar' colony of Employees
  • 2006 - Environment Management System Certified to IS14001
  • 2006 - Silver Jubilee year - Sales Cross Rs. 4.5 Billion

Awards/ Achievements:

  • AAL has a Quality Management System that is certified to ISO/TS 16949:2002 standard and also Environmental Management System that is certified to ISO 14001:2004 standard.
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