Harita Seating Systems Ltd Stock Analysis

BSE: 590043 | NSE: HARITASEAT | Auto Ancillary | Small Cap

BSE Share Price Apr 09, 18:01
766.90 0.00 (0.00%)

DeciZen - Make an Informed Decision on Harita Seating Sys

Overall Rating

2. Valuation

Undervalued

3. Price Trend

FAQs

1. Is Harita Seating Systems Ltd a good quality company?

Data is not available for this company.

2. Is Harita Seating Systems Ltd undervalued or overvalued?

The key valuation ratios of Harita Seating Systems Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

3. Is Harita Seating Systems Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Harita Seating Systems Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Harita Seating Sys:

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.

Value Creation

Value Creation Index Colour Code Guide

Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20TTM
ROCE % -0.7%20.5%16.4%8.6%11.8%29.3%28.1%27.3%16%3.1%-
Value Creation Index -1.10.50.2-0.4-0.21.11.01.00.1-0.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 241307276250274308347471525369284
YoY Gr. Rt. %-27.4%-9.9%-9.4%9.5%12.4%12.6%36%11.4%-29.7%-
Adj EPS -7.412.913.15.69.528.530.739.728.33-2.2
YoY Gr. Rt. %-NA1.8%-57.2%68.9%200%8%29.2%-28.7%-89.5%-
BVPS (₹) 30.14151.856.362.388.6115.2148.9172.4174.6169.8
Adj Net Profit -5.71010.24.47.422.123.930.9222.3-2
Cash Flow from Ops. 16.3-18.620.814-1.225.37.513.746.720.9-
Debt/CF from Ops. 2.2-2.82.33.8-30.60.21.51.20.71-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 4.9%6.1%2.1%-29.7%
Adj EPS NA-20.7%-54.1%-89.5%
BVPS 21.622.914.91.3
Share Price 20.1% 0.2% 24.1% -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20TTM
Return on Equity % -2236.328.310.41637.730.230.117.61.7-1.3
Op. Profit Mgn % 1.877.54.946.67.685.33.43.2
Net Profit Mgn % -2.43.33.71.82.77.26.96.64.20.6-0.6
Debt to Equity 1.51.71.21.20.70.10.10.20.20.2-
Working Cap Days 109799010410392901011071300
Cash Conv. Cycle -14-3281310132119190

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to %

Sales growth has been subdued in last 3 years %

Net Profit has been subdued in last 3 years %

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

Latest Financials - Harita Seating Systems Ltd.

Standalone Consolidated
TTM EPS (₹) -2.2 17.8
TTM Sales (₹ Cr.) 284 774
BVPS (₹.) 169.8 252.8
Reserves (₹ Cr.) 124 189
P/BV 4.52 3.03
PE 0.00 43.17
From the Market
52 Week Low / High (₹) 749.65 / 790.00
All Time Low / High (₹) 38.70 / 1107.80
Market Cap (₹ Cr.) 596
Equity (₹ Cr.) 7.8
Face Value (₹) 10
Industry PE 33.6

Management X-Ray of Harita Seating Sys :

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

Login/Register to view analysis.

Analyst's Notes

Login/Register to view analysis.

News

About Harita Seating Systems Ltd

Harita Seating Systems Ltd. was incorporated as Harita Grammer Ltd through a joint venture with Grammer AG of Germany and promoted by Harita group and Grammer group in 1986 and started commercial production in 1989.

Harita Seating Systems specializes in manufacture & supply of safe, comfortable, durable seats for various types of vehicles. They provide seating solutions to the commercial vehicles, buses/coaches, agriculture tractors, construction machinery, two wheelers, three wheelers, cars, multi-utility vehicles etc. Their leadership in Indian market comes from years of experience in design, development and manufacture of these products. On the basis of vast experience together with state of the art technology and manufacturing techniques, Harita Seating Systems has also developed public seating for auditoriums and theatres. Harita Seating Systems has three manufacturing locations in India. The headquarter is located at Hosur (near Bangalore). It has established manufacturing facility at Ranjangaon (near Pune) to cater to the needs of customers in Western India. Another major unit is at Nalagarh (Himachal Pradesh) for its business improvement in northern area.

Products range of the company includes:

The company is engaged in manufacturing of seats for various types of vehicles:

  • Commercial Vehicles Driver & assistant seat for commercial vehicles - Tata Motors & Ashok Leyland
  • Tractor seats - Driver seats for agriculture tractors, construction machines & forklifts - Mahindra & Mahindra, Tafe, John Deere, New Holland, TMTL, Escorts, Caterpillar, BEML, Telcon, L & T Komatsu, Voltas
  • Construction Machinery
  • Two Wheelers- TVS Motor Company
  • Bus Passenger Seats State Transports Undertakings : KSRTC, APSRTC, MSRTC, UPSRTC, BSRTC, KLSRTC, RSRTC, UTC, OSRTC etc.  OEMs : Volvo, Tata Motors, Ashok Leyland & Eicher 
  • Auditorium
  • Cars & MUVs
  • LFI 
  • MCU 
  • Railways - ICF, RCF, DLW

Milestones:

  • 1986 - Harita Grammer Ltd incorporated as a Joint Venture with Grammer AG of Germany
  • 1989 - Commenced commercial production during 1988, first to launch foam-in-place technology in India
  • 1990 - First to launch tractor seats in India with foam-in-place technology, static driver seats for commercial vehicles launched
  • 1991 - Suspended driver seats for off-road & commercial vehicles launched, car seats & MUV seats launched during 1991 (Tata Estate, Tata Sierra and Tatamobile)
  • 1992 - First to launch deluxe bus passenger seats in India
  • 1994  - Launched Multi Utility Vehicle seats
  • 1995 - Commenced production from second plant in Ranjangaon near Pune
  • 1996  -Adopted cellular manufacturing techniques to improve productivity
  • 1997 - Roloforms Polymer merged operations with Harita Grammer Ltd, launched range of driver seats suitable to semi-arid climate conditions
  • 1998 - Opened R&D center
  • 1999 - Launched new platform for deluxe bus seats, launched millennium series of deluxe bus passenger seats with new features
  • 2000 - Launched 2X1 series of bus seats, QS9000 certification
  • 2001 - Commenced direct exports (Direct exports - Decathlon started during 2002), ISO 14001 certification
  • 2002 - Renamed as Harita Seating Systems Limited after terminating JV with Grammer AG, Entered Railways segment for luxury passenger  & driver seats
  • 2003 - Launched “Innova”  plastic seats for city buses for first time in India
  • 2004 - Launched new generation of suspension platform for driver seats, ISO/TS16949 certification
  • 2005 - Crossed annual turnover of Rs 1 billion, launched new platform for deluxe bus passenger seats, launched “Elite” series of bus seat with new features 

Achievements/ recognition:

  • 2005 Water management excellent water efficient unit
  • 2005 Energy management Energy conservation award
  • 2005 Occupational Health and Safety OHSAS 18000
  • 2004 Energy management Energy conservation award
  • 2003 Manufacturing System ACMA manufacturing excellence
  • 2003 Quality management system ISO/TS 16949
  • 2001 Quality management ACMA Quality Award
  • 2001 Environmental Management ISO 140001
  • 2000 Management System EFQM-CII EXIM
  • 1999 Quality management system QS 9000
  • 1999 Manufacturing System ACMA - Productivity Award
Read More Read Less