Kross Ltd - Stock Valuation and Financial Performance

BSE: 544253 | NSE: KROSS | Auto Ancillary | Small Cap

Kross Share Price

178.25 -11.80 -6.21%
as on 13-Nov'24 13:35

DeciZen - make an informed investing decision on Kross

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Kross stock performance -

mw4me loader
P/E Ratio (SA):
27.32
Market Cap:
1,226 Cr.
52-wk low:
158.3
52-wk high:
271

Is Kross Ltd an attractive stock to invest in?

1. Is Kross Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Kross Ltd is a good quality company.

2. Is Kross Ltd undervalued or overvalued?

The key valuation ratios of Kross Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Kross Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Kross 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 Kross:

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.
Kross Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 15.4%16.4%17.2%19.9%19.6%10.5%11.9%16.3%31%33.6%-
Value Creation
Index
0.10.20.20.40.4-0.3-0.20.21.21.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 110136142174231161185297489620620
Sales YoY Gr.-24.2%4.2%22.4%32.9%-30.5%15.4%60.4%64.3%26.9%-
Adj EPS 0.40.60.70.91.60.41.12.25.78.27
YoY Gr.-44.2%17.7%27.4%75.3%-77.3%186.5%110.4%154.7%45.1%-
BVPS (₹) 6.57.17.88.810.410.811.813.418.927.1100.6
Adj Net
Profit
2.33.33.94.98.725.712.130.744.645
Cash Flow from Ops. 0013.520.315.516.35.717.541.88.5-
Debt/CF from Ops. 003.52.63.9413.64.92.113.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 21.2%21.8%49.6%26.9%
Adj EPS 38.8%38.3%98.1%45.1%
BVPS17.3%21.1%31.9%43.8%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
79.29.811.2173.69.417.735.235.810.9
Op. Profit
Mgn %
13.212.312.712.610.610.310.79.911.81311
Net Profit
Mgn %
2.12.42.72.83.71.33.14.16.37.27.2
Debt to
Equity
1.31.31.11.11.11.11.21.20.90.8-
Working Cap
Days
2121901911591362071831361011110
Cash Conv.
Cycle
130112133118941361218554630

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 49.55%

Net Profit is growing at healthy rate in last 3 years 98.10%

Debt to equity has declined versus last 3 years average to 0.80

Return on Equity has declined versus last 3 years average to 10.90%

Sales growth is not so good in last 4 quarters at 0.93%

Latest Financials - Kross Ltd.

Standalone Consolidated
TTM EPS (₹) 7 -
TTM Sales (₹ Cr.) 620 -
BVPS (₹.) 100.6 -
Reserves (₹ Cr.) 617 -
P/BV 1.89 -
PE 27.32 -
From the Market
52 Week Low / High (₹) 158.30 / 271.00
All Time Low / High (₹) 158.30 / 271.00
Market Cap (₹ Cr.) 1,226
Equity (₹ Cr.) 32.3
Face Value (₹) 5
Industry PE 51.4

Management X-Ray of Kross:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Kross

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales110136142174231161185297489620
Operating Expenses 95120124152207144166268431539
Manufacturing Costs0011364410316890123
Material Costs607575731069089160290356
Employee Cost 11121214171715202730
Other Costs 24332630402730192531
Operating Profit 15171822241720305881
Operating Profit Margin (%) 13.2%12.3%12.7%12.6%10.6%10.3%10.7%9.9%11.8%13.0%
Other Income 0000000011
Interest 899111010981215
Depreciation 3334445646
Exceptional Items 0000000000
Profit Before Tax 35671137164261
Tax 122221141116
Profit After Tax 2345926123145
PAT Margin (%) 2.1%2.4%2.7%2.8%3.8%1.2%3.1%4.1%6.3%7.2%
Adjusted EPS (₹)0.40.60.70.91.70.41.12.35.78.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%4%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 3438424655586472102147
Share Capital 771313131414141427
Reserves 283128334245505989120
Minority Interest0000000000
Debt445047526065787679104
Long Term Debt610611111530242723
Short Term Debt38394241495048525281
Trade Payables16171312191915193449
Others Liabilities 13141521231617343652
Total Liabilities 108119117132158158174201251352

Fixed Assets

Gross Block374064788996112122140162
Accumulated Depreciation002528323741465156
Net Fixed Assets374039505659707689106
CWIP 0000060005
Investments 0000100001
Inventories37383540414543416284
Trade Receivables263237324435415052110
Cash Equivalents 444465511411
Others Assets44369913333336
Total Assets 108119117132158158174201251352

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 0014201616618428
PBT 00671137164261
Adjustment 001214141413141620
Changes in Working Capital 00-30-72-14-9-7-62
Tax Paid 00-1-2-2-2-1-3-9-11
Cash Flow From Investing Activity 00-2-13-12-13-9-12-19-30
Capex 00-3-14-11-13-10-12-19-22
Net Investments 00000000-1-3
Others 0001-20000-5
Cash Flow From Financing Activity 00-12-6-2-44-6-1114
Net Proceeds from Shares 0000010000
Net Proceeds from Borrowing 0000000-12-5
Interest Paid 00-9-11-10-10-9-5-11-15
Dividend Paid 00000000-10
Others 00-3585130033
Net Cash Flow 00-11100012-7
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)6.988.999.7911.2317.283.449.3817.8435.4536.06
ROCE (%)15.4116.3917.1819.8619.5810.4611.9416.330.9533.57
Asset Turnover Ratio1.061.21.21.391.591.021.121.592.162.06
PAT to CFO Conversion(x)003.541.78811.51.350.18
Working Capital Days
Receivable Days93788872608975563848
Inventory Days1101009378649887523943
Payable Days92807564537668383442

Kross Ltd Stock News

Kross Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Kross on 13-Nov-2024 13:35 is ₹178.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 13-Nov-2024 13:35 the market cap of Kross stood at ₹1,226.
The latest P/E ratio of Kross as of 13-Nov-2024 13:35 is 27.32.
The latest P/B ratio of Kross as of 13-Nov-2024 13:35 is 1.89.
The 52-week high of Kross is ₹271.0 and the 52-week low is ₹158.3.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kross is ₹620.2 ( Cr.) .

About Kross Ltd

Kross Limited was incorporated as ‘Kross Manufacturers (India) Private Limited’, as a private limited company under  the  Companies  Act,  1956,  pursuant  to  a  certificate  of  incorporation  dated  May  9,  1991,  issued  by  the Registrar  of  Companies,  Bihar  at  Patna.  Thereafter,  the  Registered  Office  of  the  company  was  changed  from 214, Ashiana Centre Adityapur, Jamshedpur to M-4, Phase VI, Gamharia, Adityapur Industrial Area, Jamshedpur. Subsequently, the name of the Company was changed from ‘Kross Manufacturers (India) Private Limited’ to ‘Kross Private Limited’ pursuant to a fresh certificate of incorporation issued by the Registrar of Companies Jharkhand at Ranchi dated September 26, 2016. Further, the name of the company was changed upon conversion from a private limited company ‘Kross Private Limited’, to a public limited company ‘Kross Limited’ pursuant to a special resolution passed by its shareholders on January 13, 2017 and a fresh certificate of incorporation issued by the Registrar of Companies Jharkhand at Ranchi dated January 17, 2017.

Kross is a diversified player focused on manufacturing and supply of trailer axle and suspension assembly and a wide range of forged and precision machined high performance safety critical parts for medium and heavy commercial vehicles (M&HCV) and farm equipment segments. The company is widely recognized as one of the prominent manufacturers of trailer axles and suspension assembly in India. In 2019, it commenced manufacture and sale of trailer axle and suspension assemblies and has witnessed robust growth between Fiscal 2021 and Fiscal 2024. It has become one of the fastest growing players in the organised trailer axle manufacturing industry competing with major trailer axle manufacturers. With over three decades of experience, the company relies on its product development capabilities to design and deliver proprietary products such as trailer axle and suspension assembly. It is one of the few players domestically, with the competency to manufacture trailer axles and suspension assembly in-house.

With a diversified portfolio of high performance and safety critical components for the M&HCV and farm equipment segments, the company is a specialist in manufacturing of safety critical components for M&HCV segment which include axle shafts, companion flanges, anti-roll bars and stabilizer bar assembly, suspension linkages, differential spiders, bevel gears, planet carriers, inter-axle kits, rear end spindles, pole wheels and wide variety of tractor components for the hydraulic lift arrangement, power take-off (PTO) shafts and front axle spindles. The company supplies its products to a diversified client base which includes large original equipment manufacturers (OEMs) manufacturing M&HCV and tractors, tier one suppliers to the OEMs in the M&HCV segment domestic dealers and fabricators for its trailer axle and suspension business.

Business area of the company

The company is a diversified player focused on manufacturing and supply of trailer axle and suspension assembly and a wide  range  of forged  and  precision  machined  high  performance  safety  critical  parts  for  M&HCV and  farm  equipment  segments.  

Products of the company 

M&HCV components and assemblies

  • Trailer axles and suspensions
  • Axle shafts
  • Coupling flanges
  • Differential spiders
  • Bevel gear assemblies
  • Bell crank assemblies
  • Trunion pins
  • Gear joint assemblies
  • Clutch release forks
  • Steering joints
  • Universal cross
  • Input and output shafts
  • Reaction plate and carrier annulus
  • Planet carrier assembly
  • Rear end spindles
  • ABS Pole wheels
  • Interaxle rings
  • Anti-roll bar and stabilizer bar assembly

Tractor components and assemblies

  • Spindle front axles
  • Control spring assembly
  • Arm rams and hydraulic lift arms
  • PTO shafts
  • Hydraulic lift shafts

Awards, accreditations and recognitions

  • 2013: Best supplier award for ‘Consistent Delivery Performance’ through pull system -Kanban at the Global Supplier Meetby TAFE.
  • 2014: Best supplier award for ‘Overall Performance’ by TAFE. 
  • 2015: Best supplier of the year award for outstanding efforts in delivery, quality and cost by York, a Tata Enterprise.
  • 2021: Durafit Range best vendor award for demand fulfilment east (2020-21) by Tata Genuine Parts at the Vendor Impact Progamme 2021.
  • 2023: Silver award in Best Performance in Business Alignment by Ashok Leyland.

History and milestones

  • 1991: Obtained the certificate of incorporation.
  • 1997: Supplied their first product, joint cross to Tata Engineering and Locomotive Company Limited (Telco Limited). 
  • 2001: Diversified into tractor components and started working with TAFE. 
  • 2006: Started working with Ashok Leyland by developing output flanges. 
  • 2008: Installed upsetter forging equipment (4” and 5”) and started development of manufacturing of axle shafts for Tata Motors. 
  • 2008: Installed press forging equipment by installing 2500 and 2000 tonnes mechanical press. 
  • 2014: Commenced business with International Tractors Limited for rockshafts. 
  • 2016: Developed spider bevel gears for TAFE.
  • 2018: Commenced manufacturing anti-roll bar and stabilizer bar for OEM’s by commissioning a new facility, Unit IV. 
  • 2019: Developed the trailer axle along with mechanical suspensions for the trailer industry. 
  • 2022: Established foundry Unit V, a high pressure mould line along with its machine shop.

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