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Federal-Mogul Goetze (India) Ltd Stock Analysis

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Evaluated by 513 users | BSE: 505744 | NSE: FMGOETZE |
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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...

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.
Federal-Mogul Goetze (India) Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation
 Dec'10Dec'11Dec'12Dec'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 10.16%12.21%4.28%7.37%9.57%8.82%12.12%12.11%11.22%4.08%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 9331,1671,1991,1581,2641,3311,2791,3251,3421,085
Y-o-Y Gr. Rt.-25.1%2.8%-3.4%9.1%5.3%-3.9%3.6%1.2%-19.1%
Adjusted EPS (Rs.) 7.268.921.315.536.318.5614.3615.816.085.96
Y-o-Y Gr. Rt.-22.9%-85.3%322.1%14.1%35.7%67.8%10%1.8%-62.9%
Book Value per Share (Rs.) 70.0276.6773.9378.6367.7191.7110.21126.52142.79146.99
Adjusted Net Profit 40.449.67.330.835.147.779.987.989.533.2
Net Op. Cash Flow (Rs. Cr.) 99.510179.3115101192159138133191
Debt to Cash Flow from Ops 0.641.162.21.551.540.950.520.180.170
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.
Federal-Mogul Goetze (India) Ltd. should be analysed on a Consolidated basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 1.7%-3%-5.3%-19.1%
Adjusted EPS -2.2%-1.1%-25.4%-62.9%
Book Value per Share 8.616.810.12.9
Share Price 1.2% -0.6% -14.3% -38.8%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Dec'10Dec'11Dec'12Dec'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 10.7812.131.747.269.669.7114.2213.3511.944.11
Operating Profit Margin (%) 12.1113.429.8212.7912.2513.3417.0717.2217.0912.2
Net Profit Margin (%) 5.314.981.333.443.494.136.757.237.273.63
Debt to Equity 0.160.280.420.410.410.360.140.030.030
Working Capital Days 11710710611396121122128138165
Cash Conversion Cycle 16142128253030466271
Entity Percentage Holding
Promoters 95.66%
Institutions 0.01%
Non-Institutions 4.33%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Federal-Mogul Goetze (India) Ltd and arrived at the following conclusion:

Past 10 year's financial track record indicates that Federal-Mogul Goetze (India) Ltd is a average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Federal-Mogul Goetze (India) Ltd's performance infers:

Federal-Mogul Goetze (India) Ltd earnings have declined by -1.1%, whereas share price has depreciated -0.6% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Federal-Mogul Goetze (India) Ltd share prices over the last 10 years. Here is what we found out:

Federal-Mogul Goetze (India) Ltd share price has depreciated 7.9% annually over the past ten years.

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

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)
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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