X

Bharat Seats Ltd Stock Analysis

Small Cap
Evaluated by 432 users | BSE: 523229 | NSE: |
Auto Ancillary
Bharat Seats (BSL) incorporated in 1986, is a joint venture of Suzuki Motor Corporation, Japan, Maruti Suzuki India and the Relans. The company is in the business of manufacturing complete seating systems and interior components for the automotive and surface transport. Company has received...

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'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 16.61%9.64%8.24%7.79%8.76%8.43%12.24%25.95%19.58%10.59%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 442432602560693700840970904589
Y-o-Y Gr. Rt.--2.2%39.4%-7%23.8%0.9%20.1%15.5%-6.9%-34.9%
Adjusted EPS (Rs.) 2.621.821.722.152.542.373.949.086.974.01
Y-o-Y Gr. Rt.--30.5%-5.5%25%18.1%-6.7%66.2%130.5%-23.2%-42.5%
Book Value per Share (Rs.) 10.4211.312.0713.2714.7417.0219.7927.6333.336.08
Adjusted Net Profit 8.25.75.46.887.512.428.521.912.6
Net Op. Cash Flow (Rs. Cr.) 15.127.75.535.735.734.438.568.534.727.7
Debt to Cash Flow from Ops 2.422.2719.142.872.562.181.630.370.821.22
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.
Bharat Seats Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 3.2%-3.2%-11.2%-34.9%
Adjusted EPS 4.8%9.6%0.6%-42.5%
Book Value per Share 14.819.622.28.4
Share Price 19.5% 7.1% -33.4% 19.5%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 27.4116.7814.691718.1514.9421.4238.2922.8911.55
Operating Profit Margin (%) 4.043.893.925.114.644.274.436.75.566.1
Net Profit Margin (%) 1.871.320.891.211.151.061.472.942.422.14
Debt to Equity 1.121.772.762.451.981.41.010.290.270.3
Working Capital Days 26333552505043454955
Cash Conversion Cycle -5-13-8-6-8-9-11-13-13-15
Entity Percentage Holding
Promoters 74.59%
Institutions 0.11%
Non-Institutions 25.30%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Bharat Seats Ltd's performance infers:

Bharat Seats Ltd earnings have grown by 9.6%, whereas share price has appreciated 7.1% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Bharat Seats Ltd share prices over the last 10 years. Here is what we found out:

Bharat Seats Ltd share price has appreciated 11.8% annually over the past ten years.

Bharat Seats (BSL) incorporated in 1986, is a joint venture of Suzuki Motor Corporation, Japan, Maruti Suzuki India and the Relans. The company is in the business of manufacturing complete seating systems and interior components for the automotive and surface transport.

Company has received technical guidance by Houwa Kogyo Co., a leading producer of hi-tech seating system for the automobile industry in Japan, and the main suppliers to Suzuki Motor Corporation.

The factory in Gurgaon

Bharat Seats (BSL) incorporated in 1986, is a joint venture of Suzuki Motor Corporation, Japan, Maruti Suzuki India and the Relans. The company is in the business of manufacturing complete seating systems and interior components for the automotive and surface transport.

Company has received technical guidance by Houwa Kogyo Co., a leading producer of hi-tech seating system for the automobile industry in Japan, and the main suppliers to Suzuki Motor Corporation.

The factory in Gurgaon houses Polyurethane moulding, seat frame manufacture, final seat assembly and head rest moulding and assembly.

Bharat Seats has set up a manufacturing unit for PU Headrests within its existing plant with a capacity to produce 4 lakh sets per annum. It started commercial production of headrest of international standards of quality commenced in May 1999.

BSL had phased out the use of CFC-11(Cholorofluorocarbons), used as a foam-blowing agent for polyol formation in the manufacturing of moulded Puf cushions.

The company also operates research & development centre which handles projects from the concept stage through modelling, designing prototyping to testing and validation for the final product. The centre has received approval from Ministry of Science and Technology Department of Scientific and Industrial Research.

Products

  • Four wheeler seating system
  • Two wheeler seating system
  • Moulded carpets
  • Two wheeler frames and sheet metal components
  • Railway seats and berth
  • Two wheeler main frame

Milestone

  • 1986- Bharat Seats was established as seating system supplier to Maruti
  • 1988- Company installed PU seat pad moulding line
  • 1999- BSL installed Headrestraint PU pad moulding line installed
  • 2000- Company started Suzuki production system techniques and TPM
  • 2002- BSL installed PU Seat Pad Robotic line
  • 2004- Bharat Seats accredited in-house its testing laboratory
  • 2005- It installed an automated carpet moulding line
  • 2006 - Company started production of two wheeler seating systems for Suzuki motorcycles
  • 2007 - BSL bagged TPM award from JIPM, Japan and two wheeler sheet metal components and frames was introduced
  • 2008- Bharat Seats started supplying seating systems to Indian Railways
  • 2009- Company executed capacity expansion by setting third PU moulding line.

Award/Recognition

BSL has already received the ISO 9002 and QS 9000 revised version quality systems certification.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback