X

IP Rings Ltd. Stock Analysis

Small Cap
Evaluated by 153 users | BSE: 523638 | NSE: IPRINGLTD |
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IP Rings was born out of the technical collaboration between India Pistons Limited and Nippon Piston Ring Company Ltd., Japan - a world class leader in Ring Technology in 1991. IP Rings was promoted by India Pistons Ltd., Simpson & Company Ltd., Tractors and Farm Equipment Ltd., and...

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 8.12%4.35%-0.52%2.09%4.75%5.55%4.4%8.28%7.99%4.65%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 79.782.884.884.7101118174203212198
Y-o-Y Gr. Rt.-4%2.4%-0.1%19.5%16.7%46.9%16.9%4.5%-6.7%
Adjusted EPS (Rs.) 4.961.02-4.31-2.54-0.520.5-0.786.266.731.54
Y-o-Y Gr. Rt.--79.4%-522.6%NANANA-256%NA7.5%-77.1%
Book Value per Share (Rs.) 48.3948.1643.9941.2440.4340.1468.2773.9680.1779.72
Adjusted Net Profit 51-4.3-2.6-0.50.5-17.98.52
Net Op. Cash Flow (Rs. Cr.) 7.22.5-0.31-2.47.410.321.820.732.5
Debt to Cash Flow from Ops 3.8115.91-154.0760.01-27.411.625.783.343.972.56
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.
IP Rings Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 10.6%14.3%4.5%-6.7%
Adjusted EPS -12.2%NANA-77.1%
Book Value per Share 5.714.55.3-0.6
Share Price -1.3% -5.2% -31.2% -30.1%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 10.52.12-9.34-5.97-1.271.24-1.558.818.731.93
Operating Profit Margin (%) 16.111.796.0711.8112.613.218.0312.2413.4211.51
Net Profit Margin (%) 6.241.24-5.08-3.01-0.510.42-0.573.914.020.99
Debt to Equity 0.570.811.061.41.642.130.690.780.810.82
Working Capital Days 154159160174172181164177176175
Cash Conversion Cycle 85879195929881839497
Entity Percentage Holding
Promoters 56.58%
Non-Institutions 43.42%
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 IP Rings's performance infers:

IP Rings earnings have grown by 0%, whereas share price has depreciated -5.2% 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 IP Rings share prices over the last 10 years. Here is what we found out:

IP Rings share price has depreciated -6.6% annually over the past ten years.

IP Rings was born out of the technical collaboration between India Pistons Limited and Nippon Piston Ring Company Ltd., Japan - a world class leader in Ring Technology in 1991. IP Rings was promoted by India Pistons Ltd., Simpson & Company Ltd., Tractors and Farm Equipment Ltd., and Amalgamations Pvt Ltd., Chennai. State-of-the-Art manufacturing facility at Maraimalai Nagar, 50 Kms. from Chennai. 

IP Rings manufactures a wide range of sophisticated piston rings. A model

IP Rings was born out of the technical collaboration between India Pistons Limited and Nippon Piston Ring Company Ltd., Japan - a world class leader in Ring Technology in 1991. IP Rings was promoted by India Pistons Ltd., Simpson & Company Ltd., Tractors and Farm Equipment Ltd., and Amalgamations Pvt Ltd., Chennai. State-of-the-Art manufacturing facility at Maraimalai Nagar, 50 Kms. from Chennai. 

IP Rings manufactures a wide range of sophisticated piston rings. A model manufacturing unit, the Company’s production plant is fully integrated and has a wide spectrum of Surface Engineering Technologies.

IP Rings is the only Company in India, which has got under one roof, facilities for all the surface treatments, which are currently used in contemporary engines. Its plant at Maraimalainagar has the following surface treatment facilities.

Plasma Spray: IP Rings has one of the best plasma spray facilities, which is capable of spraying alloy powders and also multi-layer coatings. Plasma sprayed coatings improve the scuff and wear resistance and are recommended for high operating temperatures.

Gas Nitriding : IP Rings has a fully automatic Gas Nitriding frunace, capable of giving extremely close tolerances on mechanical properties and case depth. This results in excellent wear-resistance and prolonged engine life for gasolene engines - both for passenger cars and two-wheelers.  

Nifflex-S & Nifflex-H: IP Rings has the facility to manufacture 3 piece steel oil control ring, consisting of an expander and two side rails, based on the famous Nifflex-S, Nifflex-Hdesign of NPR, Japan. These rings ensure total conformability of the oil ring to the cylinder bore throughout the life of the engine and give better and long life oil control.  

Chrome Plating : IP Rings has a fully automated chrome plating facility, which can carry out besides periphery plating, chrome plating of the side faces of the rings, as well as the bore surface. Thus, it can cater to the entire range of chrome plating requirements.

Entire spectrum of the automobile industry from two-wheelers to Heavy Commercial Vehicles and Tractors are catered by them.

Product range of the company includes:

  • Steel Rings
  • Cast Iron Rings and
  • Nifflex S Rings
  • Nifflex H with surface coatings
  • Plasma Spraying
  • Gas Nitriding
  • Chrome Plating

Clientele:Tata Motors, Maruti, Ashok Leyland, Hyundai. Eicher, HM, TVS, Royal Enfield, Simpson, Nippon Pistons etc.

Achievements/ recognition:

  • ISO 9002 (1996)
  • QS9000 (2000)
  • ISO 14001 (2002)
  • ISO/TS16949:2002 (2002)
  • 100 PPM (2003)
  • Accreditation of In-house R & D (2004)
  • IMEA Gold Award from Frost & Sulivan (2005)
  • IMEA Super Platinum From Frost & Sulivan (2007)
  • CII EXIM - Significant Acheivement Award (2008)
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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