Federal-Mogul Goetze (India) Ltd Stock Analysis

BSE: 505744 | NSE: FMGOETZE | Auto Ancillary | Small Cap

BSE Share Price Aug 12, 18:03
286.70 -1.70 (-0.59%)

DeciZen - Make an Informed Decision on Federal-Mogul Goetze

Overall Rating

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Semi Strong

Federal-Mogul Goetze Price Chart

P/E Ratio (CD) :
25.21
Market Cap :
1,595 Cr.
52-wk low :
207.1
52-wk high :
303.5
Bole Toh?

1. Is Federal-Mogul Goetze (India) Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Federal-Mogul Goetze (India) Ltd is a below average quality company.

2. Is Federal-Mogul Goetze (India) Ltd undervalued or overvalued?

The key valuation ratios of Federal-Mogul Goetze (India) Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Federal-Mogul Goetze (India) Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Federal-Mogul Goetze (India) 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 Federal-Mogul Goetze:

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.
Federal-Mogul Goetze (India) Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Dec'11Dec'12Dec'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 12.2%4.3%7.4%9.6%8.8%12.1%12.1%11.2%4.1%4%-
Value Creation Index -0.1-0.7-0.5-0.3-0.4-0.1-0.1-0.2-0.7-0.7-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,1671,1991,1581,2641,3311,2791,3251,3421,0851,1071,426
YoY Gr. Rt. %-2.8%-3.4%9.1%5.3%-3.9%3.6%1.2%-19.1%2%-
Adj EPS 8.91.35.56.38.614.415.816.165.911.4
YoY Gr. Rt. %--85.3%322.1%14.1%35.7%67.8%10%1.8%-62.9%-0.5%-
BVPS (₹) 76.773.978.667.791.7110.2126.5142.8147147.5161.2
Adj Net Profit 49.67.330.835.147.779.987.989.533.23363
Cash Flow from Ops. 10179.3115101192159138133191152-
Debt/CF from Ops. 1.22.21.61.510.50.20.200-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -0.6%-3.6%-5.8%2%
Adj EPS -4.4%-7.1%-27.9%-0.5%
BVPS 7.5105.30.4
Share Price 2.6% -11.4% -17.2% 0.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Dec'11Dec'12Dec'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 12.11.77.39.79.714.213.411.94.147.4
Op. Profit Mgn % 13.49.812.812.313.317.117.217.112.211.712.2
Net Profit Mgn % 51.33.43.54.16.87.27.33.63.44.4
Debt to Equity 0.30.40.40.40.40.10000-
Working Cap Days 107106113961211221281381651620
Cash Conv. Cycle 142128253030466271500

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 7.40%

Sales growth has been subdued in last 3 years -5.82%

Net Profit has been subdued in last 3 years -27.87%

Sales growth is not so good in last 4 quarters at 9.00%

Latest Financials - Federal-Mogul Goetze (India) Ltd.

Standalone Consolidated
TTM EPS (₹) 11.1 11.4
TTM Sales (₹ Cr.) 1,403 1,426
BVPS (₹.) 149.2 161.2
Reserves (₹ Cr.) 774 841
P/BV 1.92 1.77
PE 25.95 25.21
From the Market
52 Week Low / High (₹) 207.10 / 303.50
All Time Low / High (₹) 14.32 / 664.90
Market Cap (₹ Cr.) 1,595
Equity (₹ Cr.) 55.6
Face Value (₹) 10
Industry PE 40

Management X-Ray of Federal-Mogul Goetze :

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

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Key Ratios of Federal-Mogul Goetze

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

News

About Federal-Mogul Goetze (India) Ltd

Federal-Mogul Goetze (India) was established in 1954 as a joint venture with Goetze-Werke of Germany. The company is now owned by Federal-Mogul Corporation, a $6.3 billion global company and one of the leading manufacturers of automotive components in the world.

Goetze and Goetze Brico provide leading-edge technologies and competitive solutions for original equipment manufacturers and the automotive aftermarket

Federal-Mogul Goetze (India) is the largest manufacturer world-class pistons, piston rings, sintered parts and cylinder liners covering a wide range of applications including two/three-wheelers, cars, SUVs, tractors, light commercial vehicles, heavy commercial vehicles, stationary engines and high output locomotive diesel engines. It also exports its products to many countries.

Products:

  • Pistons
  • Piston rings
  • Sintered parts
  • Cylinder liners
  • Light Metal Castings

Subsidiary:

Federal-Mogul TPR (India) --  Federal-Mogul TPR (India), formerly Goetze TP (India) was formed in 1997 as a joint venture among Federal-Mogul Goetze (India),Federal-Mogul Corporation and Japan’s Teikoku Piston Ring.

This partnership provides the Indian automobile industry with hi-tech steel compression rings and multi-piece oil rings for its new generation cars, 4-stroke bi-wheeler and other high-performance engines.

Certification:

It’s most modern production facilities at Bengaluru, Patiala and Bhiwadi are certified TS 16949, ISO14001 and OHSAS 18001.

Milestones:

  • 1954    Incorporated as a joint venture with Goetze Werke 
  • 1957     Ring and liner production at Patiala
  • 1958    Piston production as escorts (Automotive Division) at Patiala                                                                                                              
  • 1960    Cast iron / forged piston production started at Patiala
  • 1968    Pins / ring carrier production started at Patiala
  • 1977    Piston / ring production started at Bengaluru
  • 1982    Steel rings / large bore locomotive piston at Bengaluru
  • 1985    Light alloy products at Patiala
  • 1989    Auto thermic pistons production at Bengaluru
  • 1990    Moly coated / IKA / chrome oil rings at Patiala
  • 1992    Large bore rings / pistons for battle tanks at Bengaluru
  • 1994    Composite pistons / new ring foundry at Bengaluru
  • 1996    Escorts (Automotive Division) hived off into joint venture with Mahle
  • 1997    Goetze TP (India) -  Manufacturer of steel rings
  • 2001    Merger of Federal-Mogul sintered products with Goetze (India)
  • 2003    Merger of Escorts pistons activities with Goetze (India)
  • 2004    Introduction of chrome-ceramic rings
  • 2004    Technical collaboration for pistons with Federal-Mogul Corporation
  • 2006    Majority stake holding acquisition by Federal-Mogul Corporation
  • 2006    Name changed from Goetze (India) to Federal-Mogul Goetze (India)
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