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PPAP Automotive Ltd (PPAP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532934 NSE: PPAP Auto Ancillary | Small Cap | PPAP Automotive Share Price

₹208.75 -2.75 (-1.30%)

As on 04-Jun'26 16:59

PPAP Automotive Ltd (PPAP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532934 NSE: PPAP Auto Ancillary | Small Cap | PPAP Automotive Share Price

₹208.75 -2.75 (-1.30%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹295 Cr.
Current Price
₹208.8
52-Week Low / High
₹177 / 295
TTM EPS
₹23.6
TTM Sales
₹536 Cr.
Book Value per Share
₹251.8
P/E Ratio
8.84
Lower than its 5-year historical median
Industry PE
42.9
Price to Book (P/B)
0.83
Lower than its 5-year historical median
Price to Sales (P/S)
0.55
Lower than its 5-year historical median
EV/EBITDA
8.25
Higher than its 5-year historical median
Dividend Yield
1.54%
Profitability Efficiency
Return on Equity (ROE)
4.44%
Underperforms industry median
Return on Capital Employed (ROCE)
7.23%
Underperforms industry median
Return on Assets (ROA)
2.43%
Operating Profit Margin
11.3%
Net Profit Margin
2.62%
Gross Profit Margin
9.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
6.7%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
38.4%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
64.48%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹342 Cr.
Equity
₹14.2 Cr.
Face Value
₹10
All Time Low / High
₹23.05 / 721.00

PPAP Automotive stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is PPAP Automotive Ltd a good quality company?
PPAP Automotive Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does PPAP Automotive Ltd performance compare with that of its Peers?
Q.1 Revenue growth of PPAP Automotive Ltd vs industry peers?
PPAP Automotive Ltd revenue CAGR is 8.35%, compared to the industry median CAGR of 11.89%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of PPAP Automotive Ltd?
Promoters hold 64.48% of the PPAP Automotive Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of PPAP Automotive Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 4.4% based on the current price.

10 Year X-Ray : Login to view analysis.

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.
PPAP Automotive Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 10.9%15.4%20.9%17%8.1%3%3.3%4.6%3.5%7.2%-
Value Creation
Index
-0.20.10.50.2-0.4-0.8-0.8-0.7-0.8-0.5-

Growth Parameters

Sales 303345398411360321409492504538536
Sales YoY Gr.-14%15.3%3.4%-12.4%-10.8%27.4%20.4%2.3%6.7%-
Adj EPS 11.317.426.423.814.13.43.15.1-3.51023.6
YoY Gr.-54.4%51.4%-9.7%-40.7%-76%-9.1%65.6%-168.4%NA-
BVPS (₹) 150.3170.4192.7210.8217.3221.3223.5225.7222.2230.2251.8
Adj Net
Profit
15.824.436.933.419.84.74.37.1-4.914.133
Cash Flow from Ops. 40.970.177.858.736.230.140.538.936.555.7-
Debt/CF from Ops. 1.80.70.40.40.61.72.33.23.82.7-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 6.6%8.4%9.5%6.7%
Adj EPS -1.4%-6.7%48%NA
BVPS4.9%1.2%1%3.6%
Share Price 4% -0.7% 8.2% -15.8%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
7.710.914.511.86.61.51.42.3-1.64.49.8
Op. Profit
Mgn %
17.519.321.418.814.410.69.79.48.811.49.8
Net Profit
Mgn %
5.27.19.38.15.51.51.11.5-12.66.2
Debt to
Equity
0.40.20.10.10.10.20.30.40.50.50.1
Working Cap
Days
1059810712113214111710812412888
Cash Conv.
Cycle
434039465156443743361

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales303345398411360321409492504538
Operating Expenses + 250278313334309287370446460477
Manufacturing Costs32293335272331424547
Material Costs152172189198187177239289286294
Employee Cost 47536371666170799196
Other Costs 20242829292630373840
Operating Profit 52678577513439464461
Operating Profit Margin (%) 17.3%19.3%21.4%18.8%14.2%10.6%9.7%9.3%8.7%11.3%
Other Income + 1231132345
Exceptional Items 0000000000
Interest 8654346111215
Depreciation 23242626262629303232
Profit Before Tax 2338574823669319
Tax 7132015422285
Profit After Tax 1525373319557-514
PAT Margin (%) 5.0%7.3%9.4%8.1%5.4%1.5%1.1%1.4%-0.9%2.6%
Adjusted EPS (₹)10.917.926.723.913.83.53.34.9-3.310.0
Dividend Payout Ratio (%)18.30%16.80%16.80%18.90%21.80%29%45.80%30.80%-37.50%25%

Valuation of PPAP Automotive - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 210239270295304310313316311324
Share Capital 14141414141414141414
Reserves 196225256281290296299302297310
Debt +59361817224284105111121
Long Term Debt44281613124272676457
Short Term Debt1481410012384763
Minority Interest0000000000
Trade Payables21243240424847625665
Others Liabilities 46628579464547599082
Total Liabilities 336361404431413445491542569592

Fixed Assets

Net Fixed Assets +194197211237230240271301297300
Gross Block320221260311329364422481507539
Accumulated Depreciation12624497499125151180211239
CWIP 0312282021111726
Investments 38514949515566697171
Inventories37233245494243585949
Trade Receivables38495557416252626572
Cash Equivalents 0211510111
Others Assets 29364440292538415974
Total Assets 336361404431413445491542569592

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 41707859363040393656
PBT 2338574823669319
Adjustment 31292930282733364243
Changes in Working Capital -91013-2-3-25-4-8-4
Tax Paid -4-7-22-17-12-1-3-2-2-2
Cash Flow From Investing Activity + -24-43-45-43-29-49-70-49-30-35
Capex -24-26-40-25-17-36-60-18-24-11
Net Investments 0-143-1-5-2-10-3-11
Others 0-2-8-18-7-120-28-4-25
Cash Flow From Financing Activity + -18-25-33-16-5182911-6-21
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -7-10-16-8-13030-5-3-7
Interest Paid -8-6-4-3-1-2-5-9-11-13
Dividend Paid 0-4-6-8-90-1-4-1-3
Others -4-6-736-1052892
Net Cash Flow -12-1-12-1-101-0

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)7.4711.1614.7211.836.431.581.472.17-1.494.44
ROCE (%)10.8815.4220.916.968.073.033.284.643.517.23
Asset Turnover Ratio1.051.131.070.990.850.750.870.950.910.93
PAT to CFO Conversion(x)2.732.82.111.791.89685.57N/A4
Working Capital Days
Receivable Days40.5040.4046.405049.9058.5050.9042.3045.9046.20
Inventory Days33.6027.7024.6034.2047.5051.5037.8037.5042.2036.40
Payable Days54.6047.7054.2066.1079.8092.2072.306975.6075.80

Management X-Ray

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

PPAP Automotive Ltd FAQs

The current trading price of PPAP Automotive on 04-Jun-2026 16:59 is ₹208.8.

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 03-Jun-2026 the market cap of PPAP Automotive stood at ₹295.4 Cr

The latest P/E ratio of PPAP Automotive as of 03-Jun-2026 is 8.84.

The latest P/B ratio of PPAP Automotive as of 03-Jun-2026 is 0.83.

The 52-week high of PPAP Automotive is ₹295.4 and the 52-week low is ₹177.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of PPAP Automotive is ₹536 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that PPAP Automotive Ltd is a average quality company.

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

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of PPAP Automotive Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About PPAP Automotive Ltd

Precision Pipes & Profiles Company Ltd (PPAP) was originally incorporated on April 3, 1978 as a partnership firm by three partners viz. Devendra Chandra Jain (HUF), Asha Jain and Vinay Kumari Jain in the name and style of Precision Pipes and Profiles Company

PPAP is a leading manufacturer of high quality automotive sealing systems and exterior products in India. The company has four state of the art manufacturing facilities, which are located in New Delhi and Noida. All the plants are TS 16949, ISO 14001 and OHSAS 18001 certified. PPAP's core competence is in Plastic Extrusion and Injection moulding.

Along with the state of the art manufacturing facilities, PPAP has an experienced engineering team, which is capable of designing and manufacturing products based on customer specifications. The engineering department has latest versions of software’s like Moldflow, Unigraphics, IDEAS, Catia V4 and Catia V5. The company also has a well equipped laboratory to perform raw material as well as product performance testing.

PPAP has a joint venture with Tokai Kogyo Co. Ltd, Japan for manufacturing plastic extrusion as well as gas assist injection moulding products. The association between PPAP and Tokai Kogyo dates back to more than 15 years.

Product range of the company includes:

Automotive Sealing

  • Weather Strips
  • Trim Door Opening
  • Windshield Moulding
  • Roof Moulding
  • Quarter Window Seal
  • A- Pillar Garnish
  • C- Pillar Garnish

Exterior/ Interior Products

  • Skirt Air Damper
  • Body Side Moulding
  • Other Interior

Achievements/ recognition:

  • OHSAS Certification
  • Best Vendor Award
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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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